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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, 24 March 14
SGX'S Q2'14 CFR SOUTH CHINA COAL SWAP CLOSES SLIGHTLY HIGHER W-O-W
COALspot.com: API 8 CFR South China Coal swaps for average Q2 14 deliveries lost 1.81 percent month on month and closed at US$ 74.82 per mt as o ...
Sunday, 23 March 14
THE COAL FREIGHT RATES SEEN SLIGHTLY FIRMING UP THIS WEEK - REDDY
COALspot.com: The freight market firmed up this week. BDI was up 8.26 pct week on week and index was closed at 1599 points. The Cape index was u ...
Saturday, 22 March 14
SHIP OWNERS INVEST $15 BILLION FOR NEWBUILDINGS AND SECONDHAND VESSELS DURING FEBRUARY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Ship owners have kept on their aggressive stance in the investment scene both for newbuildings, as well as for secondhand vessels globally durin ...
Friday, 21 March 14
DRY BULK MARKET STAYS ON RECOVERY MODE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market has reached new year heighs, as a result of renewed Capesize demand. The Baltic Dry Index (BDI) ended yesterday's sessio ...
Friday, 21 March 14
US COAL PRODUCTION UP 1.5%; WEST MISSISSIPPI COAL PRODUCTION DOWN 1.85% WEEK ON WEEK
COALspot.com – United States the world's second largest coal producer, produced approximately 19.0 million short tons (mmst) of coal i ...
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- Marubeni Corporation - India
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- Ministry of Finance - Indonesia
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- Thai Mozambique Logistica
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- Binh Thuan Hamico - Vietnam
- Bhatia International Limited - India
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- Petron Corporation, Philippines
- McConnell Dowell - Australia
- Singapore Mercantile Exchange
- Gujarat Mineral Development Corp Ltd - India
- Thiess Contractors Indonesia
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- Kumho Petrochemical, South Korea
- Indo Tambangraya Megah - Indonesia
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- Semirara Mining and Power Corporation, Philippines
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- Indian Oil Corporation Limited
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- Sakthi Sugars Limited - India
- Goldman Sachs - Singapore
- White Energy Company Limited
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- Global Coal Blending Company Limited - Australia
- Essar Steel Hazira Ltd - India
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- Dalmia Cement Bharat India
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- Globalindo Alam Lestari - Indonesia
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- IEA Clean Coal Centre - UK
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- European Bulk Services B.V. - Netherlands
- Deloitte Consulting - India
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- Price Waterhouse Coopers - Russia
- Africa Commodities Group - South Africa
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- Merrill Lynch Commodities Europe
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- Meenaskhi Energy Private Limited - India
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- Billiton Holdings Pty Ltd - Australia
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- CNBM International Corporation - China
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- SN Aboitiz Power Inc, Philippines
- Maheswari Brothers Coal Limited - India
- The University of Queensland
- AsiaOL BioFuels Corp., Philippines
- Directorate Of Revenue Intelligence - India
- Eastern Energy - Thailand
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- Orica Australia Pty. Ltd.
- Posco Energy - South Korea
- Oldendorff Carriers - Singapore
- Baramulti Group, Indonesia
- Edison Trading Spa - Italy
- Romanian Commodities Exchange
- Indogreen Group - Indonesia
- South Luzon Thermal Energy Corporation
- Borneo Indobara - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Alfred C Toepfer International GmbH - Germany
- SMC Global Power, Philippines
- Electricity Generating Authority of Thailand
- Wilmar Investment Holdings
- Lanco Infratech Ltd - India
- Mintek Dendrill Indonesia
- Renaissance Capital - South Africa
- Asia Pacific Energy Resources Ventures Inc, Philippines
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- Heidelberg Cement - Germany
- Tata Chemicals Ltd - India
- Wood Mackenzie - Singapore
- Kepco SPC Power Corporation, Philippines
- Anglo American - United Kingdom
- Medco Energi Mining Internasional
- Sinarmas Energy and Mining - Indonesia
- Jindal Steel & Power Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Madhucon Powers Ltd - India
- VISA Power Limited - India
- Eastern Coal Council - USA
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- Meralco Power Generation, Philippines
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- Sical Logistics Limited - India
- Salva Resources Pvt Ltd - India
- Minerals Council of Australia
- Star Paper Mills Limited - India
- PNOC Exploration Corporation - Philippines
- Straits Asia Resources Limited - Singapore
- Metalloyd Limited - United Kingdom
- Port Waratah Coal Services - Australia
- The Treasury - Australian Government
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- Antam Resourcindo - Indonesia
- Altura Mining Limited, Indonesia
- Bharathi Cement Corporation - India
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- Ceylon Electricity Board - Sri Lanka
- Agrawal Coal Company - India
- Siam City Cement - Thailand
- Karaikal Port Pvt Ltd - India
- Xindia Steels Limited - India
- Ministry of Transport, Egypt
- Petrochimia International Co. Ltd.- Taiwan
- Chettinad Cement Corporation Ltd - India
- MS Steel International - UAE
- Georgia Ports Authority, United States
- Sree Jayajothi Cements Limited - India
- IHS Mccloskey Coal Group - USA
- Grasim Industreis Ltd - India
- Australian Coal Association
- Aboitiz Power Corporation - Philippines
- Vedanta Resources Plc - India
- Samtan Co., Ltd - South Korea
- Bangladesh Power Developement Board
- Commonwealth Bank - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Economic Council, Georgia
- Coastal Gujarat Power Limited - India
- Latin American Coal - Colombia
- New Zealand Coal & Carbon
- India Bulls Power Limited - India
- Planning Commission, India
- Carbofer General Trading SA - India
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- Chamber of Mines of South Africa
- Parry Sugars Refinery, India
- San Jose City I Power Corp, Philippines
- Savvy Resources Ltd - HongKong
- Energy Link Ltd, New Zealand
- Coal and Oil Company - UAE
- Independent Power Producers Association of India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Global Green Power PLC Corporation, Philippines
- Indian Energy Exchange, India
- Vizag Seaport Private Limited - India
- Indonesian Coal Mining Association
- Global Business Power Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Tamil Nadu electricity Board
- Electricity Authority, New Zealand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Makarim & Taira - Indonesia
- Toyota Tsusho Corporation, Japan
- Karbindo Abesyapradhi - Indoneisa
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- Asmin Koalindo Tuhup - Indonesia
- Miang Besar Coal Terminal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Gujarat Electricity Regulatory Commission - India
- Larsen & Toubro Limited - India
- Energy Development Corp, Philippines
- Orica Mining Services - Indonesia
- Parliament of New Zealand
- GVK Power & Infra Limited - India
- Bhushan Steel Limited - India
- Videocon Industries ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Simpson Spence & Young - Indonesia
- Mercator Lines Limited - India
- Bukit Makmur.PT - Indonesia
- Interocean Group of Companies - India
- Aditya Birla Group - India
- Intertek Mineral Services - Indonesia
- SMG Consultants - Indonesia
- Pendopo Energi Batubara - Indonesia
- London Commodity Brokers - England
- Semirara Mining Corp, Philippines
- TNB Fuel Sdn Bhd - Malaysia
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