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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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Monday, 12 May 14
TAIPOWER TO IMPORT AROUND 1 MMT OF SUB-BITUMINOUS COAL DURING AUGUST 2014 THROUGH NOVEMBER 2014
COALspot.com - Taiwan Power Company intends to procure 1.050 million tons of sub-bituminous coal for Taipower thermal power plant through open t ...
Monday, 12 May 14
DRY BULK MARKET IS STILL STRUGGLING TO FIND FIRM FOOTING
COALspot.com: The freight market continued to be weak and the BDI closed slightly lower at 997 points or fell 1.96 pct week on week. The cape in ...
Friday, 09 May 14
RBCT SHIPPED 5.4 MMT OF COAL IN APRIL
COALspot.com: South Africa's Richards Bay Coal Terminal (RBCT) the single largest coal export terminal in the world, shipped 5.45 million to ...
Friday, 09 May 14
DRY BULK MARKET: BANKRUPTCY TONNAGE UNLEASHED
Drewry’s latest Dry Bulk Forecaster saw freight rates on most routes declined in 2014’s first quarter as the previous quarter’ ...
Friday, 09 May 14
UNITED STATES COAL PRODUCTION SLIGHTLY SLIDES TO 82.4 MMST IN APRIL
COALspot.com – United States the world's second largest coal producer, produced approximately 18.8 million short tons (mmst) of coal i ...
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- Sindya Power Generating Company Private Ltd
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- Sakthi Sugars Limited - India
- Maharashtra Electricity Regulatory Commission - India
- European Bulk Services B.V. - Netherlands
- Pipit Mutiara Jaya. PT, Indonesia
- Coalindo Energy - Indonesia
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- Wilmar Investment Holdings
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- McConnell Dowell - Australia
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- Rio Tinto Coal - Australia
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- Siam City Cement PLC, Thailand
- Bangladesh Power Developement Board
- Interocean Group of Companies - India
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- Ceylon Electricity Board - Sri Lanka
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- Africa Commodities Group - South Africa
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- Global Green Power PLC Corporation, Philippines
- Trasteel International SA, Italy
- The University of Queensland
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- The State Trading Corporation of India Ltd
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- Eastern Coal Council - USA
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- Energy Development Corp, Philippines
- Simpson Spence & Young - Indonesia
- Kideco Jaya Agung - Indonesia
- International Coal Ventures Pvt Ltd - India
- Cement Manufacturers Association - India
- Sojitz Corporation - Japan
- Straits Asia Resources Limited - Singapore
- Global Business Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
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- Bukit Asam (Persero) Tbk - Indonesia
- Global Coal Blending Company Limited - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Rashtriya Ispat Nigam Limited - India
- Indonesian Coal Mining Association
- Heidelberg Cement - Germany
- Anglo American - United Kingdom
- Indo Tambangraya Megah - Indonesia
- ICICI Bank Limited - India
- Chettinad Cement Corporation Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Port Waratah Coal Services - Australia
- Jorong Barutama Greston.PT - Indonesia
- SMG Consultants - Indonesia
- Lanco Infratech Ltd - India
- Samtan Co., Ltd - South Korea
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- Deloitte Consulting - India
- Indika Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
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- TeaM Sual Corporation - Philippines
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- Gujarat Electricity Regulatory Commission - India
- Cigading International Bulk Terminal - Indonesia
- New Zealand Coal & Carbon
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- Bayan Resources Tbk. - Indonesia
- Coal and Oil Company - UAE
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- Mintek Dendrill Indonesia
- Sarangani Energy Corporation, Philippines
- Bhatia International Limited - India
- IHS Mccloskey Coal Group - USA
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- Economic Council, Georgia
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- Baramulti Group, Indonesia
- Star Paper Mills Limited - India
- Planning Commission, India
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- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Eastern Energy - Thailand
- Australian Coal Association
- White Energy Company Limited
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- Indian Energy Exchange, India
- Carbofer General Trading SA - India
- Semirara Mining Corp, Philippines
- Savvy Resources Ltd - HongKong
- Ambuja Cements Ltd - India
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- Asmin Koalindo Tuhup - Indonesia
- Aboitiz Power Corporation - Philippines
- Thai Mozambique Logistica
- Maheswari Brothers Coal Limited - India
- Medco Energi Mining Internasional
- Agrawal Coal Company - India
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- OPG Power Generation Pvt Ltd - India
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- San Jose City I Power Corp, Philippines
- Bukit Makmur.PT - Indonesia
- Wood Mackenzie - Singapore
- IEA Clean Coal Centre - UK
- Globalindo Alam Lestari - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Makarim & Taira - Indonesia
- Orica Australia Pty. Ltd.
- Banpu Public Company Limited - Thailand
- India Bulls Power Limited - India
- Singapore Mercantile Exchange
- Jaiprakash Power Ventures ltd
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- Attock Cement Pakistan Limited
- PetroVietnam Power Coal Import and Supply Company
- GAC Shipping (India) Pvt Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Grasim Industreis Ltd - India
- Georgia Ports Authority, United States
- Formosa Plastics Group - Taiwan
- Neyveli Lignite Corporation Ltd, - India
- Parliament of New Zealand
- Minerals Council of Australia
- Tamil Nadu electricity Board
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- Bank of Tokyo Mitsubishi UFJ Ltd
- Ministry of Finance - Indonesia
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- Iligan Light & Power Inc, Philippines
- Marubeni Corporation - India
- Bulk Trading Sa - Switzerland
- Kaltim Prima Coal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Australian Commodity Traders Exchange
- Therma Luzon, Inc, Philippines
- MS Steel International - UAE
- Bhushan Steel Limited - India
- Central Electricity Authority - India
- SN Aboitiz Power Inc, Philippines
- GMR Energy Limited - India
- South Luzon Thermal Energy Corporation
- Bhoruka Overseas - Indonesia
- Aditya Birla Group - India
- Chamber of Mines of South Africa
- Oldendorff Carriers - Singapore
- Electricity Generating Authority of Thailand
- Posco Energy - South Korea
- Leighton Contractors Pty Ltd - Australia
- CNBM International Corporation - China
- SMC Global Power, Philippines
- Xindia Steels Limited - India
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