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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, 14 April 14
CHINA'S MEASURES TO STIMULATE ECONOMY'S GROWTH COULD OFFER ROOM FOR STABILITY IN SHIPPING MARKETS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Since the outbreak of the 2008-crisis, the shipping industry, in most of its aspects, i.e. dry bulk and tanker markets alike, has been dealing w ...
Sunday, 13 April 14
INDONESIA TO INDIA FREIGHT MARKET DECLINE CONTINUES
COALspot.com: The freight market continued to drop this week and BDI almost touched 1000 points. BDI closed at 1002 points fell 16.85 pct week o ...
Saturday, 12 April 14
HOW DO YOU CALCULATE LOSS OF EARNINGS FOLLOWING A COLLISION? - INCE & CO
KNOWLEDGE TO ELEVATE
The recent case of Astipalaia vs Hanjin Shenzhen [2014] EWHC 120 (Admlty) has revisited the existing case law on asses ...
Friday, 11 April 14
US COAL PRODUCTION IN MARCH INCREASED 9.69% TO 82.6 MMST MONTH ON MONTH
COALspot.com – United States the world's second largest coal producer, produced approximately 19.10 million short tons (mmst) of coal ...
Thursday, 10 April 14
DRY BULK MARKET IS RISING CLAIMS BIMCO - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Despite the recent fall of the Baltic Dry Index (BDI), when one compares the first quarter of 2014, to similar quarters of the recent past, it i ...
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- Port Waratah Coal Services - Australia
- Essar Steel Hazira Ltd - India
- Interocean Group of Companies - India
- Intertek Mineral Services - Indonesia
- Ministry of Finance - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Aditya Birla Group - India
- Mercuria Energy - Indonesia
- Bukit Baiduri Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Karbindo Abesyapradhi - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- Jorong Barutama Greston.PT - Indonesia
- Wilmar Investment Holdings
- Deloitte Consulting - India
- Jaiprakash Power Ventures ltd
- Independent Power Producers Association of India
- Baramulti Group, Indonesia
- LBH Netherlands Bv - Netherlands
- SMG Consultants - Indonesia
- Global Coal Blending Company Limited - Australia
- Cement Manufacturers Association - India
- GAC Shipping (India) Pvt Ltd
- Straits Asia Resources Limited - Singapore
- Coalindo Energy - Indonesia
- Rio Tinto Coal - Australia
- Indonesian Coal Mining Association
- TNB Fuel Sdn Bhd - Malaysia
- Power Finance Corporation Ltd., India
- Ambuja Cements Ltd - India
- AsiaOL BioFuels Corp., Philippines
- ASAPP Information Group - India
- Kalimantan Lumbung Energi - Indonesia
- Trasteel International SA, Italy
- Africa Commodities Group - South Africa
- Orica Australia Pty. Ltd.
- Indo Tambangraya Megah - Indonesia
- SMC Global Power, Philippines
- The State Trading Corporation of India Ltd
- Vizag Seaport Private Limited - India
- Mintek Dendrill Indonesia
- Carbofer General Trading SA - India
- Bukit Asam (Persero) Tbk - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Electricity Authority, New Zealand
- Savvy Resources Ltd - HongKong
- Global Business Power Corporation, Philippines
- Singapore Mercantile Exchange
- Marubeni Corporation - India
- Indian Energy Exchange, India
- Thiess Contractors Indonesia
- Vedanta Resources Plc - India
- Indogreen Group - Indonesia
- Mercator Lines Limited - India
- Xindia Steels Limited - India
- Bayan Resources Tbk. - Indonesia
- Karaikal Port Pvt Ltd - India
- Larsen & Toubro Limited - India
- Indian Oil Corporation Limited
- Meenaskhi Energy Private Limited - India
- Georgia Ports Authority, United States
- Kobexindo Tractors - Indoneisa
- Pendopo Energi Batubara - Indonesia
- The Treasury - Australian Government
- IEA Clean Coal Centre - UK
- VISA Power Limited - India
- IHS Mccloskey Coal Group - USA
- Semirara Mining Corp, Philippines
- Bhushan Steel Limited - India
- Goldman Sachs - Singapore
- PNOC Exploration Corporation - Philippines
- Indika Energy - Indonesia
- Posco Energy - South Korea
- Altura Mining Limited, Indonesia
- Bukit Makmur.PT - Indonesia
- Renaissance Capital - South Africa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Antam Resourcindo - Indonesia
- Maheswari Brothers Coal Limited - India
- Bangladesh Power Developement Board
- Formosa Plastics Group - Taiwan
- Meralco Power Generation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Neyveli Lignite Corporation Ltd, - India
- Chamber of Mines of South Africa
- Energy Development Corp, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Semirara Mining and Power Corporation, Philippines
- Makarim & Taira - Indonesia
- Madhucon Powers Ltd - India
- Eastern Coal Council - USA
- Sakthi Sugars Limited - India
- Medco Energi Mining Internasional
- Merrill Lynch Commodities Europe
- Parry Sugars Refinery, India
- Ministry of Mines - Canada
- Globalindo Alam Lestari - Indonesia
- Tata Chemicals Ltd - India
- Riau Bara Harum - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Lanco Infratech Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Alfred C Toepfer International GmbH - Germany
- Global Green Power PLC Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Edison Trading Spa - Italy
- Oldendorff Carriers - Singapore
- South Luzon Thermal Energy Corporation
- Wood Mackenzie - Singapore
- White Energy Company Limited
- Sical Logistics Limited - India
- CIMB Investment Bank - Malaysia
- Kartika Selabumi Mining - Indonesia
- Heidelberg Cement - Germany
- Therma Luzon, Inc, Philippines
- Coastal Gujarat Power Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Planning Commission, India
- Pipit Mutiara Jaya. PT, Indonesia
- Kumho Petrochemical, South Korea
- GMR Energy Limited - India
- Commonwealth Bank - Australia
- Cigading International Bulk Terminal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Aboitiz Power Corporation - Philippines
- Rashtriya Ispat Nigam Limited - India
- Toyota Tsusho Corporation, Japan
- Petron Corporation, Philippines
- Tamil Nadu electricity Board
- Sinarmas Energy and Mining - Indonesia
- Timah Investasi Mineral - Indoneisa
- Star Paper Mills Limited - India
- Binh Thuan Hamico - Vietnam
- Grasim Industreis Ltd - India
- Standard Chartered Bank - UAE
- McConnell Dowell - Australia
- India Bulls Power Limited - India
- TeaM Sual Corporation - Philippines
- Minerals Council of Australia
- Electricity Generating Authority of Thailand
- Sarangani Energy Corporation, Philippines
- Mjunction Services Limited - India
- Leighton Contractors Pty Ltd - Australia
- Australian Commodity Traders Exchange
- Central Electricity Authority - India
- GVK Power & Infra Limited - India
- CNBM International Corporation - China
- PTC India Limited - India
- Orica Mining Services - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Bulk Trading Sa - Switzerland
- Asmin Koalindo Tuhup - Indonesia
- Bharathi Cement Corporation - India
- OPG Power Generation Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Agrawal Coal Company - India
- Attock Cement Pakistan Limited
- MS Steel International - UAE
- Eastern Energy - Thailand
- ICICI Bank Limited - India
- Chettinad Cement Corporation Ltd - India
- Energy Link Ltd, New Zealand
- Bhatia International Limited - India
- PowerSource Philippines DevCo
- Coal and Oil Company - UAE
- Sojitz Corporation - Japan
- Samtan Co., Ltd - South Korea
- Metalloyd Limited - United Kingdom
- Uttam Galva Steels Limited - India
- Economic Council, Georgia
- European Bulk Services B.V. - Netherlands
- Holcim Trading Pte Ltd - Singapore
- London Commodity Brokers - England
- Videocon Industries ltd - India
- Borneo Indobara - Indonesia
- Barasentosa Lestari - Indonesia
- Iligan Light & Power Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- Gujarat Mineral Development Corp Ltd - India
- Siam City Cement - Thailand
- Directorate Of Revenue Intelligence - India
- New Zealand Coal & Carbon
- Romanian Commodities Exchange
- Maharashtra Electricity Regulatory Commission - India
- Petrochimia International Co. Ltd.- Taiwan
- Kepco SPC Power Corporation, Philippines
- The University of Queensland
- Offshore Bulk Terminal Pte Ltd, Singapore
- Dalmia Cement Bharat India
- Sree Jayajothi Cements Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Latin American Coal - Colombia
- Simpson Spence & Young - Indonesia
- Ind-Barath Power Infra Limited - India
- Kideco Jaya Agung - Indonesia
- Australian Coal Association
- San Jose City I Power Corp, Philippines
- Parliament of New Zealand
- Price Waterhouse Coopers - Russia
- Sindya Power Generating Company Private Ltd
- Jindal Steel & Power Ltd - India
- Banpu Public Company Limited - Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Thai Mozambique Logistica
- Manunggal Multi Energi - Indonesia
- Malabar Cements Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Siam City Cement PLC, Thailand
- Ministry of Transport, Egypt
- Anglo American - United Kingdom
- Kaltim Prima Coal - Indonesia
- Central Java Power - Indonesia
- SN Aboitiz Power Inc, Philippines
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