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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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Friday, 02 May 14
US WEEKLY COAL PRODUCTION RELATIVELY FLAT AT -0.1%, SAYS EIA
COALspot.com – United States the world's second largest coal producer, produced approximately 19.0 million short tons (mmst) of coal i ...
Friday, 02 May 14
DRY BULK MARKET SHOWING SIGNS OF COMEBACK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market which has been hovering below the 1,000-point market (BDI) during the past couple of weeks, could be exhibiting signs of a s ...
Thursday, 01 May 14
INDONESIA EXPORT BAN POINTS TO QUESTIONS OVER CHINA'S LONG-TERM BAUXITE SUPPLY - WOOD MACKENZIE
China’s Bauxite demand forecast to reach 240 million tonnes by 2030
In light of the Indonesian mineral ore ban that came into force o ...
Thursday, 01 May 14
DRY BULK MARKET STILL REELING UNDER PRESSURE FROM VARIOUS FACTORS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market's revival is still overdue, as the industry's benchmark, the BDI is still lagging below the 1,000-point mark. In fac ...
Wednesday, 30 April 14
FREIGHT MARKET FOR DRY BULKERS STILL REMAINS WEAK - INTERMODAL
One week after the Easter holiday and the celebration for the resurrection of Christ, everybody expected to see a similar sign of a revival in t ...
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- Interocean Group of Companies - India
- CNBM International Corporation - China
- Tata Chemicals Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Malabar Cements Ltd - India
- Tamil Nadu electricity Board
- New Zealand Coal & Carbon
- Eastern Energy - Thailand
- PowerSource Philippines DevCo
- Kapuas Tunggal Persada - Indonesia
- Formosa Plastics Group - Taiwan
- Essar Steel Hazira Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Global Business Power Corporation, Philippines
- Dalmia Cement Bharat India
- Heidelberg Cement - Germany
- Georgia Ports Authority, United States
- Port Waratah Coal Services - Australia
- Makarim & Taira - Indonesia
- Agrawal Coal Company - India
- Mintek Dendrill Indonesia
- Intertek Mineral Services - Indonesia
- Electricity Generating Authority of Thailand
- Sinarmas Energy and Mining - Indonesia
- Grasim Industreis Ltd - India
- Gujarat Sidhee Cement - India
- Maheswari Brothers Coal Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Trasteel International SA, Italy
- Cement Manufacturers Association - India
- Orica Australia Pty. Ltd.
- Kobexindo Tractors - Indoneisa
- Central Electricity Authority - India
- Simpson Spence & Young - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Sical Logistics Limited - India
- Videocon Industries ltd - India
- Singapore Mercantile Exchange
- London Commodity Brokers - England
- Billiton Holdings Pty Ltd - Australia
- Attock Cement Pakistan Limited
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Anglo American - United Kingdom
- Indo Tambangraya Megah - Indonesia
- Manunggal Multi Energi - Indonesia
- Power Finance Corporation Ltd., India
- Bangladesh Power Developement Board
- Bayan Resources Tbk. - Indonesia
- Energy Link Ltd, New Zealand
- Meenaskhi Energy Private Limited - India
- South Luzon Thermal Energy Corporation
- PTC India Limited - India
- Electricity Authority, New Zealand
- Merrill Lynch Commodities Europe
- Siam City Cement - Thailand
- MS Steel International - UAE
- Kohat Cement Company Ltd. - Pakistan
- Oldendorff Carriers - Singapore
- Alfred C Toepfer International GmbH - Germany
- The University of Queensland
- Mercuria Energy - Indonesia
- Baramulti Group, Indonesia
- Parry Sugars Refinery, India
- Siam City Cement PLC, Thailand
- Deloitte Consulting - India
- Bhushan Steel Limited - India
- Iligan Light & Power Inc, Philippines
- Indogreen Group - Indonesia
- Star Paper Mills Limited - India
- Sakthi Sugars Limited - India
- Holcim Trading Pte Ltd - Singapore
- Salva Resources Pvt Ltd - India
- Coal and Oil Company - UAE
- Offshore Bulk Terminal Pte Ltd, Singapore
- SN Aboitiz Power Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Antam Resourcindo - Indonesia
- Timah Investasi Mineral - Indoneisa
- Indonesian Coal Mining Association
- Jaiprakash Power Ventures ltd
- Goldman Sachs - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Globalindo Alam Lestari - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- SMG Consultants - Indonesia
- Bulk Trading Sa - Switzerland
- OPG Power Generation Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Mercator Lines Limited - India
- VISA Power Limited - India
- Sojitz Corporation - Japan
- Semirara Mining Corp, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Jindal Steel & Power Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Eastern Coal Council - USA
- Vizag Seaport Private Limited - India
- Wilmar Investment Holdings
- Australian Commodity Traders Exchange
- Mjunction Services Limited - India
- Coastal Gujarat Power Limited - India
- Chettinad Cement Corporation Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- The Treasury - Australian Government
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sindya Power Generating Company Private Ltd
- White Energy Company Limited
- Carbofer General Trading SA - India
- Thai Mozambique Logistica
- Kaltim Prima Coal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Ministry of Transport, Egypt
- Ministry of Finance - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Petron Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- International Coal Ventures Pvt Ltd - India
- Lanco Infratech Ltd - India
- Planning Commission, India
- Renaissance Capital - South Africa
- Posco Energy - South Korea
- Aboitiz Power Corporation - Philippines
- GAC Shipping (India) Pvt Ltd
- Global Coal Blending Company Limited - Australia
- Vedanta Resources Plc - India
- GMR Energy Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Kumho Petrochemical, South Korea
- The State Trading Corporation of India Ltd
- Asmin Koalindo Tuhup - Indonesia
- Samtan Co., Ltd - South Korea
- Therma Luzon, Inc, Philippines
- IHS Mccloskey Coal Group - USA
- McConnell Dowell - Australia
- Central Java Power - Indonesia
- Kartika Selabumi Mining - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GVK Power & Infra Limited - India
- Minerals Council of Australia
- Borneo Indobara - Indonesia
- Medco Energi Mining Internasional
- PetroVietnam Power Coal Import and Supply Company
- Barasentosa Lestari - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Bhatia International Limited - India
- Bhoruka Overseas - Indonesia
- Ambuja Cements Ltd - India
- TeaM Sual Corporation - Philippines
- Economic Council, Georgia
- Bahari Cakrawala Sebuku - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Binh Thuan Hamico - Vietnam
- Ind-Barath Power Infra Limited - India
- ICICI Bank Limited - India
- LBH Netherlands Bv - Netherlands
- Riau Bara Harum - Indonesia
- Savvy Resources Ltd - HongKong
- Commonwealth Bank - Australia
- India Bulls Power Limited - India
- Wood Mackenzie - Singapore
- San Jose City I Power Corp, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Romanian Commodities Exchange
- Independent Power Producers Association of India
- Rashtriya Ispat Nigam Limited - India
- Kepco SPC Power Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Pendopo Energi Batubara - Indonesia
- Marubeni Corporation - India
- Australian Coal Association
- Maharashtra Electricity Regulatory Commission - India
- Ministry of Mines - Canada
- Madhucon Powers Ltd - India
- Meralco Power Generation, Philippines
- ASAPP Information Group - India
- Indian Oil Corporation Limited
- Thiess Contractors Indonesia
- Krishnapatnam Port Company Ltd. - India
- Bharathi Cement Corporation - India
- Rio Tinto Coal - Australia
- Semirara Mining and Power Corporation, Philippines
- SMC Global Power, Philippines
- Edison Trading Spa - Italy
- Leighton Contractors Pty Ltd - Australia
- Larsen & Toubro Limited - India
- Uttam Galva Steels Limited - India
- Parliament of New Zealand
- PNOC Exploration Corporation - Philippines
- Xindia Steels Limited - India
- Indika Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Aditya Birla Group - India
- CIMB Investment Bank - Malaysia
- Latin American Coal - Colombia
- AsiaOL BioFuels Corp., Philippines
- Price Waterhouse Coopers - Russia
- Sree Jayajothi Cements Limited - India
- Banpu Public Company Limited - Thailand
- Bukit Makmur.PT - Indonesia
- Altura Mining Limited, Indonesia
- Orica Mining Services - Indonesia
- Standard Chartered Bank - UAE
- Coalindo Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- European Bulk Services B.V. - Netherlands
- Chamber of Mines of South Africa
- Africa Commodities Group - South Africa
- Indian Energy Exchange, India
- Energy Development Corp, Philippines
- Kideco Jaya Agung - Indonesia
- Global Green Power PLC Corporation, Philippines
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