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Tuesday, 12 February 13
GOVERNMENT DECLARED INDONESIAN THERMAL COAL PRICE INCHES UP IN FEBRUARY
 COALspot.com - The Indonesian government has declared bench mark price for coal has moved upwards in February 2013.
The monthly coal reference price for coal sales in February 2013 gained 0.91 percent compared to last month. The Ministry of Energy & Mineral Resources of Indonesia sets the coal’s spot price for February 2013 at US$ 88.35 per ton, US$ 0.80 higher than January 2013 bench mark Price.
This coal benchmark price was calculated based on calorific value of 6,322 kcal/kg (GAR), stated to be using formula based on the January 2013 index average of ICI-1 (Indonesia Coal Index) 25%, Platts-5900 25%, NEX (Newcastle Export Index) 25%, and GC (globalCoal Index) 25%.
Assessment basis of coal price reference was calculated considering coal with GCV (GAR) 6,322 kcal/kg, Total Moisture (arb) 8.00%, Total Sulphur 0.8% (arb), Ash Content 15 % (arb) and delivery free on Board (FOB) Vessel basis and applicable for spot contract, delivery between 1 – 28 February 2013.
Energy and Mineral Resources Deputy Minister Rudi Rubiandini said early last month that, the Indonesian coal output would increase by 1.2 percent to 391 million tons from 386 million tons last year. According to, one of the leading English news paper in Indonesia, the Jakarta post, that the government had expected the Indonesia coal reference price (HBA) to reach over US$100 per ton this year following potential economic recovery as showed by the recent US fiscal-cliff budget deal, as quoted by Deputy Minister.
The country’s average HBA last year only reached $95.5 per ton, far below the average price level of $118.4 per ton throughout 2011. The January 2013 Indonesia coal reference price (HBA) has jumped by US$ 5.80 per MT or 7.09% from December 2012 price and the February 2013 price has up only by 0.91 percent M-O-M. If HBA continues its journey on this trend then, it may reach government prediction within end 2nd quarter 2013.
In the meantime, world coal analysts and coal industry experts are also predict that, the coal industry and price will improve in coming months as the consumers are back to field to source the coal.
RBS Morgans chief economist Michael Knox said last November, during Brisbane's Major Projects Conference, of all commodities, oil prices always hit the bottom first before beginning to rise, followed by metals including iron ore. Metallurgical coal - used for steel production - was always later, followed by thermal coal.
"In coming months you will see a base in metallurgical coal," he said during conference cited by sunshine coastal daily of Australia. "You'll be able to say in a year's time that the low in metallurgical coal is behind us and you will see a rally (in prices). "Six months later, you will see a rally in thermal coal,” he said, the media further said.
Goldman Sachs, expects met prices to average US$178 per tonne in 2013, rising to US$195 per tonne in 2014. Many other analysts have made similar predictions, according to Northern Miner.
The government of Indonesia has been publishing a monthly coal reference price (HBA & HPB) since January 2009 to be used by coal producers for all spot and term contracts. However the full implementation of HBA has started only since September 2011.
The February 2013 HBA is 23.23 percent or $ 20.82 lower Y-o-Y basis.
The price was only valid for the spot price (loading on or before 28 February 2013), while as for term price (up to 12 months supplies), the average reference price (HPB) of the previous 3 months will be used to determine the selling price. (50% of latest available month HPB, 30% of one month prior HPB and 20% of two months prior HPB).
Government also declared reference price for eight brands of Indonesia's coal, which are most commonly traded in the market. Those eight brands are acted as the benchmark and used to calculate other 62 coal types with a quality similar to the coal price markers.
For sales in barge, the reference price is reduced by barging and transshipment costs from barge to vessel.
The coal reference price, which has been established to fulfill the requirement of mining law 04/2009 and latest ministerial decree 17/2010 and also aims to increase government revenue from royalties from coal producers. According to industry, all existing coal supply agreements with Indonesian coal mining companies have been revised to comply with new coal pricing regulation, which was fully implemented on 23 September 2011.
The government has recently introduced export duty for unprocessed minerals but coal was missing in the recent regulation. According to Mining law 04/2009, the coal producers of Indonesia were asked to add value for their product such as washing, crushing, blending and upgrading to have a higher-value product prior to eye on the export market and avoid proposed export ban. However the industry players are in opinion that, the government may not proceed further with LOW GCV coal export ban by early next year as planned earlier.
According to local media reports, the Supreme court of Indonesia had ordered the government to withdraw four chapters in the regulation, including one chapter limiting the exports of raw minerals since May 6. According to Ministerial Decree No. 7 on mineral processing, mining companies would only be granted mineral ore export permits after receiving CNC for their business licenses as well as showing commitment to establish smelters or cooperate with other companies to process their mineral ores for export.
Click here for complete Indonesian coal reference prices since January 2009.(cs)
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Thursday, 15 May 14
USA COAL CONFERENCE
Press Release: IHS Inc. (NYSE: IHS), the leading global source of information and analysis, will host the Coal USA Conference, June 18-20, 2014, ...
Wednesday, 14 May 14
COAL PRICES IN CHINA HAVE DROPPED TO THEIR LOWEST LEVELS SINCE END-2008
COALspot.com: Coal prices in China have dropped to their lowest levels since end-2008, Fitch says in its latest rating report on one of the coal ...
Wednesday, 14 May 14
ALMOST THROUGH THE HALF OF THE YEAR, THE DRY BULK INDEX SHOW SIGNS OF WEAKNESS; CREATING TO BOTH EXISTING SHIP OWNERS AND POTENTIAL INVESTORS A LOT OF INSECURITY - PANOS MAKRINOS
Almost through the half of the year, the overall shipping market and more specifically the Dry Bulk Index show signs of weakness, creating to bo ...
Tuesday, 13 May 14
NPC COAL EXPORT VOLUMES PLUNGE TO 2.48 MMT WEEK ON WEEK
COALspot.com: In the week ended 07:00 hours 12 May 2014, power plant and semi-soft coking coal shipments from the port of Newcastle in Quee ...
Tuesday, 13 May 14
YET ANOTHER POSIDONIA EXHIBITION IS ON ITS WAY - INTERMODAL
With less than a month to go before another Posidonia exhibition starts and all the parties and celebrations get under way we thought that it wo ...
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- Ministry of Finance - Indonesia
- South Luzon Thermal Energy Corporation
- Billiton Holdings Pty Ltd - Australia
- Central Electricity Authority - India
- Sical Logistics Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Heidelberg Cement - Germany
- Singapore Mercantile Exchange
- Renaissance Capital - South Africa
- Petrochimia International Co. Ltd.- Taiwan
- Antam Resourcindo - Indonesia
- Essar Steel Hazira Ltd - India
- Baramulti Group, Indonesia
- Posco Energy - South Korea
- European Bulk Services B.V. - Netherlands
- ICICI Bank Limited - India
- International Coal Ventures Pvt Ltd - India
- Indonesian Coal Mining Association
- India Bulls Power Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Altura Mining Limited, Indonesia
- Gujarat Sidhee Cement - India
- Marubeni Corporation - India
- SMC Global Power, Philippines
- San Jose City I Power Corp, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Ind-Barath Power Infra Limited - India
- Bhatia International Limited - India
- Bayan Resources Tbk. - Indonesia
- Bukit Makmur.PT - Indonesia
- PNOC Exploration Corporation - Philippines
- Malabar Cements Ltd - India
- Latin American Coal - Colombia
- Makarim & Taira - Indonesia
- Vedanta Resources Plc - India
- CIMB Investment Bank - Malaysia
- ASAPP Information Group - India
- Iligan Light & Power Inc, Philippines
- Energy Development Corp, Philippines
- OPG Power Generation Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Oldendorff Carriers - Singapore
- PTC India Limited - India
- The State Trading Corporation of India Ltd
- Africa Commodities Group - South Africa
- Bangladesh Power Developement Board
- SMG Consultants - Indonesia
- Siam City Cement - Thailand
- Indian Energy Exchange, India
- Interocean Group of Companies - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bharathi Cement Corporation - India
- Bahari Cakrawala Sebuku - Indonesia
- Energy Link Ltd, New Zealand
- Borneo Indobara - Indonesia
- Global Coal Blending Company Limited - Australia
- Vizag Seaport Private Limited - India
- LBH Netherlands Bv - Netherlands
- New Zealand Coal & Carbon
- Wilmar Investment Holdings
- Lanco Infratech Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Electricity Generating Authority of Thailand
- Anglo American - United Kingdom
- McConnell Dowell - Australia
- Kepco SPC Power Corporation, Philippines
- Orica Australia Pty. Ltd.
- Directorate Of Revenue Intelligence - India
- Intertek Mineral Services - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kaltim Prima Coal - Indonesia
- Georgia Ports Authority, United States
- Cement Manufacturers Association - India
- Power Finance Corporation Ltd., India
- Kapuas Tunggal Persada - Indonesia
- Bulk Trading Sa - Switzerland
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Chamber of Mines of South Africa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Electricity Authority, New Zealand
- Minerals Council of Australia
- Timah Investasi Mineral - Indoneisa
- Kohat Cement Company Ltd. - Pakistan
- White Energy Company Limited
- Global Business Power Corporation, Philippines
- Australian Coal Association
- Mjunction Services Limited - India
- Coastal Gujarat Power Limited - India
- Simpson Spence & Young - Indonesia
- Metalloyd Limited - United Kingdom
- Salva Resources Pvt Ltd - India
- Xindia Steels Limited - India
- Wood Mackenzie - Singapore
- Independent Power Producers Association of India
- Binh Thuan Hamico - Vietnam
- Agrawal Coal Company - India
- Therma Luzon, Inc, Philippines
- Aditya Birla Group - India
- Sinarmas Energy and Mining - Indonesia
- Jaiprakash Power Ventures ltd
- Thai Mozambique Logistica
- IHS Mccloskey Coal Group - USA
- Global Green Power PLC Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- VISA Power Limited - India
- Siam City Cement PLC, Thailand
- Maheswari Brothers Coal Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Planning Commission, India
- Australian Commodity Traders Exchange
- Edison Trading Spa - Italy
- IEA Clean Coal Centre - UK
- PowerSource Philippines DevCo
- Sree Jayajothi Cements Limited - India
- Chettinad Cement Corporation Ltd - India
- SN Aboitiz Power Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- Pendopo Energi Batubara - Indonesia
- Price Waterhouse Coopers - Russia
- Eastern Coal Council - USA
- Straits Asia Resources Limited - Singapore
- Port Waratah Coal Services - Australia
- Kumho Petrochemical, South Korea
- Parliament of New Zealand
- Tamil Nadu electricity Board
- Orica Mining Services - Indonesia
- Globalindo Alam Lestari - Indonesia
- Sakthi Sugars Limited - India
- Barasentosa Lestari - Indonesia
- Formosa Plastics Group - Taiwan
- TeaM Sual Corporation - Philippines
- Uttam Galva Steels Limited - India
- Medco Energi Mining Internasional
- Pipit Mutiara Jaya. PT, Indonesia
- Bukit Baiduri Energy - Indonesia
- Eastern Energy - Thailand
- Mercuria Energy - Indonesia
- Sojitz Corporation - Japan
- Romanian Commodities Exchange
- Banpu Public Company Limited - Thailand
- Gujarat Electricity Regulatory Commission - India
- Parry Sugars Refinery, India
- Madhucon Powers Ltd - India
- GAC Shipping (India) Pvt Ltd
- Sarangani Energy Corporation, Philippines
- Trasteel International SA, Italy
- Coalindo Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Sindya Power Generating Company Private Ltd
- Neyveli Lignite Corporation Ltd, - India
- Samtan Co., Ltd - South Korea
- Tata Chemicals Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mercator Lines Limited - India
- Kideco Jaya Agung - Indonesia
- Economic Council, Georgia
- Central Java Power - Indonesia
- Jindal Steel & Power Ltd - India
- Petron Corporation, Philippines
- Standard Chartered Bank - UAE
- Deloitte Consulting - India
- Aboitiz Power Corporation - Philippines
- Cigading International Bulk Terminal - Indonesia
- Star Paper Mills Limited - India
- Coal and Oil Company - UAE
- Indogreen Group - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Karaikal Port Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- London Commodity Brokers - England
- Videocon Industries ltd - India
- Kobexindo Tractors - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Riau Bara Harum - Indonesia
- Bhushan Steel Limited - India
- Meralco Power Generation, Philippines
- Manunggal Multi Energi - Indonesia
- Attock Cement Pakistan Limited
- Indian Oil Corporation Limited
- GMR Energy Limited - India
- Carbofer General Trading SA - India
- CNBM International Corporation - China
- Bhoruka Overseas - Indonesia
- Ambuja Cements Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Larsen & Toubro Limited - India
- GVK Power & Infra Limited - India
- Kartika Selabumi Mining - Indonesia
- Grasim Industreis Ltd - India
- Indo Tambangraya Megah - Indonesia
- Indika Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Mintek Dendrill Indonesia
- Ministry of Mines - Canada
- The Treasury - Australian Government
- AsiaOL BioFuels Corp., Philippines
- MS Steel International - UAE
- Leighton Contractors Pty Ltd - Australia
- Savvy Resources Ltd - HongKong
- Goldman Sachs - Singapore
- Krishnapatnam Port Company Ltd. - India
- Ministry of Transport, Egypt
- Rio Tinto Coal - Australia
- Vijayanagar Sugar Pvt Ltd - India
- The University of Queensland
- Toyota Tsusho Corporation, Japan
- Dalmia Cement Bharat India
- GN Power Mariveles Coal Plant, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Thiess Contractors Indonesia
- Commonwealth Bank - Australia
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