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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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Wednesday, 16 April 14
Q1 2014 : TERMS OF FREIGHT RATES THE PERFORMANCE IN THE DRY BULK MARKET HAS NOT MET THE HIGH EXPECTATIONS - INTERMODAL
This year the dates for the celebration of Easter will coincide for the Orthodox and the Catholic, so we are already seeing most people in the m ...
Tuesday, 15 April 14
NEWCASTLE SHIPPED MORE COAL WEEK ON WEEK
COALspot.com: In the week ended 07:00 hours 14 April 2014, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensl ...
Monday, 14 April 14
SUB-BIT FOB INDO COAL SWAP FOR Q1' 15 DELIVERY CLOSED AT US$ 60.12 PER MT
COALspot.com: Indonesian coal swaps for average Q4’ 2014 gain on month and on week according to AsiaClear OTC coal swap's reports rele ...
Monday, 14 April 14
INDONESIA'S Q1 COAL PRODUCTION LITTLE CHANGED EVEN WITH PRICE DROP - INVESTOR DAILY
Indonesia’s coal production by volume in the first quarter remained little changed from the same period last year despite the decline in t ...
Monday, 14 April 14
API 8 CFR SOUTH CHINA COAL SWAPS GAIN FOR THE MONTH & WEEK
COALspot.com: API 8 CFR South China Coal swaps for average Q2 14 deliveries gained 4.61 percent month on month and closed at US$ 76.18 per mt as ...
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- Leighton Contractors Pty Ltd - Australia
- Formosa Plastics Group - Taiwan
- Bulk Trading Sa - Switzerland
- SN Aboitiz Power Inc, Philippines
- Orica Australia Pty. Ltd.
- ASAPP Information Group - India
- Altura Mining Limited, Indonesia
- New Zealand Coal & Carbon
- OPG Power Generation Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Heidelberg Cement - Germany
- Kaltim Prima Coal - Indonesia
- GMR Energy Limited - India
- Port Waratah Coal Services - Australia
- Ministry of Mines - Canada
- Central Electricity Authority - India
- Tamil Nadu electricity Board
- Global Green Power PLC Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Goldman Sachs - Singapore
- Star Paper Mills Limited - India
- Indonesian Coal Mining Association
- PTC India Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Iligan Light & Power Inc, Philippines
- Medco Energi Mining Internasional
- Grasim Industreis Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Orica Mining Services - Indonesia
- Bukit Makmur.PT - Indonesia
- The University of Queensland
- Merrill Lynch Commodities Europe
- Kideco Jaya Agung - Indonesia
- Wilmar Investment Holdings
- Australian Coal Association
- Directorate Of Revenue Intelligence - India
- Latin American Coal - Colombia
- Bhushan Steel Limited - India
- Meralco Power Generation, Philippines
- Kepco SPC Power Corporation, Philippines
- Bharathi Cement Corporation - India
- Gujarat Electricity Regulatory Commission - India
- Holcim Trading Pte Ltd - Singapore
- Parliament of New Zealand
- Tata Chemicals Ltd - India
- Salva Resources Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Xindia Steels Limited - India
- AsiaOL BioFuels Corp., Philippines
- Trasteel International SA, Italy
- Global Business Power Corporation, Philippines
- Petron Corporation, Philippines
- Posco Energy - South Korea
- Maheswari Brothers Coal Limited - India
- McConnell Dowell - Australia
- Singapore Mercantile Exchange
- GVK Power & Infra Limited - India
- Karaikal Port Pvt Ltd - India
- Carbofer General Trading SA - India
- Globalindo Alam Lestari - Indonesia
- PNOC Exploration Corporation - Philippines
- Mercuria Energy - Indonesia
- Electricity Authority, New Zealand
- Samtan Co., Ltd - South Korea
- Bukit Baiduri Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Jaiprakash Power Ventures ltd
- Uttam Galva Steels Limited - India
- VISA Power Limited - India
- Bangladesh Power Developement Board
- Mintek Dendrill Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Pendopo Energi Batubara - Indonesia
- Siam City Cement PLC, Thailand
- Ind-Barath Power Infra Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Thai Mozambique Logistica
- Africa Commodities Group - South Africa
- Independent Power Producers Association of India
- Barasentosa Lestari - Indonesia
- CIMB Investment Bank - Malaysia
- Malabar Cements Ltd - India
- Indian Oil Corporation Limited
- ICICI Bank Limited - India
- Sical Logistics Limited - India
- Sojitz Corporation - Japan
- Gujarat Mineral Development Corp Ltd - India
- Oldendorff Carriers - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Global Coal Blending Company Limited - Australia
- Kartika Selabumi Mining - Indonesia
- Minerals Council of Australia
- Makarim & Taira - Indonesia
- Baramulti Group, Indonesia
- Semirara Mining and Power Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Sinarmas Energy and Mining - Indonesia
- Indo Tambangraya Megah - Indonesia
- Romanian Commodities Exchange
- Bukit Asam (Persero) Tbk - Indonesia
- Price Waterhouse Coopers - Russia
- Metalloyd Limited - United Kingdom
- Kohat Cement Company Ltd. - Pakistan
- Eastern Coal Council - USA
- Alfred C Toepfer International GmbH - Germany
- Petrochimia International Co. Ltd.- Taiwan
- Attock Cement Pakistan Limited
- Coalindo Energy - Indonesia
- Larsen & Toubro Limited - India
- European Bulk Services B.V. - Netherlands
- Energy Development Corp, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bhatia International Limited - India
- Ministry of Finance - Indonesia
- Gujarat Sidhee Cement - India
- Binh Thuan Hamico - Vietnam
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Krishnapatnam Port Company Ltd. - India
- San Jose City I Power Corp, Philippines
- Central Java Power - Indonesia
- Edison Trading Spa - Italy
- Chamber of Mines of South Africa
- Rio Tinto Coal - Australia
- Chettinad Cement Corporation Ltd - India
- Sree Jayajothi Cements Limited - India
- IEA Clean Coal Centre - UK
- Kumho Petrochemical, South Korea
- Georgia Ports Authority, United States
- Savvy Resources Ltd - HongKong
- Commonwealth Bank - Australia
- Madhucon Powers Ltd - India
- Parry Sugars Refinery, India
- Aditya Birla Group - India
- Sarangani Energy Corporation, Philippines
- Indika Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Antam Resourcindo - Indonesia
- Cement Manufacturers Association - India
- Straits Asia Resources Limited - Singapore
- Manunggal Multi Energi - Indonesia
- Energy Link Ltd, New Zealand
- Wood Mackenzie - Singapore
- Anglo American - United Kingdom
- IHS Mccloskey Coal Group - USA
- Essar Steel Hazira Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Standard Chartered Bank - UAE
- Renaissance Capital - South Africa
- TNB Fuel Sdn Bhd - Malaysia
- Ambuja Cements Ltd - India
- India Bulls Power Limited - India
- Semirara Mining Corp, Philippines
- Therma Luzon, Inc, Philippines
- Siam City Cement - Thailand
- Riau Bara Harum - Indonesia
- Deloitte Consulting - India
- Ministry of Transport, Egypt
- Coastal Gujarat Power Limited - India
- Mercator Lines Limited - India
- SMG Consultants - Indonesia
- Kobexindo Tractors - Indoneisa
- Thiess Contractors Indonesia
- Toyota Tsusho Corporation, Japan
- Interocean Group of Companies - India
- Simpson Spence & Young - Indonesia
- Lanco Infratech Ltd - India
- Eastern Energy - Thailand
- The Treasury - Australian Government
- London Commodity Brokers - England
- Economic Council, Georgia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Meenaskhi Energy Private Limited - India
- Power Finance Corporation Ltd., India
- Coal and Oil Company - UAE
- Videocon Industries ltd - India
- CNBM International Corporation - China
- South Luzon Thermal Energy Corporation
- Bayan Resources Tbk. - Indonesia
- TeaM Sual Corporation - Philippines
- Ceylon Electricity Board - Sri Lanka
- Offshore Bulk Terminal Pte Ltd, Singapore
- Borneo Indobara - Indonesia
- Jindal Steel & Power Ltd - India
- Aboitiz Power Corporation - Philippines
- Neyveli Lignite Corporation Ltd, - India
- Sindya Power Generating Company Private Ltd
- Marubeni Corporation - India
- White Energy Company Limited
- Mjunction Services Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- PowerSource Philippines DevCo
- Intertek Mineral Services - Indonesia
- Australian Commodity Traders Exchange
- Electricity Generating Authority of Thailand
- Planning Commission, India
- GN Power Mariveles Coal Plant, Philippines
- Bhoruka Overseas - Indonesia
- Vedanta Resources Plc - India
- Agrawal Coal Company - India
- MS Steel International - UAE
- Sakthi Sugars Limited - India
- Banpu Public Company Limited - Thailand
- Indian Energy Exchange, India
- Maharashtra Electricity Regulatory Commission - India
- SMC Global Power, Philippines
- GAC Shipping (India) Pvt Ltd
- Indogreen Group - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Dalmia Cement Bharat India
- Miang Besar Coal Terminal - Indonesia
- Vizag Seaport Private Limited - India
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