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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, 21 March 14
MERCURIA ANNOUNCES ACQUISITION OF J.P. MORGAN PHYSICAL COMMODITIES BUSINESS
COALspot.com: Mercuria Energy Group announced that it has reached a definitive agreement with J.P. Morgan Chase & Co. to acquire its physica ...
Thursday, 20 March 14
CAPESIZE: WEST AUSTRALIA TO CHINA RATES HAVE CLIMBED BACK TOWARD USD 11 PMT - FEARNRESEARCH
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From a slight improvement in the Atlantic to a more mixed picture this mid week. North Atlantic rounds showing softening signs whereas S ...
Wednesday, 19 March 14
INSTEAD OF DECIDING WHETHER THE GLASS IS HALF FULL OR HALF EMPTY, I AM CURRENTLY GLAD THERE IS WATER IN THE GLASS - EVA TZIMA
By Eva Tzima
Research Analyst
Intermodal Research & Valuations
Right when you think that you have all your facts straight, right wh ...
Wednesday, 19 March 14
EUROCOKE SUMMIT 2014
Press Release: ThyssenKrupp, Steel Institute VDEh, SSI and more headline Smithers Apex’s Eurocoke Summit
The leading coke, coal and s ...
Wednesday, 19 March 14
DRY BULK MARKET REBOUND LEADS TO MORE NEWBUILDING ORDERS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The steady rise of the dry bulk market, as evidenced by the return, yesterday, of the Baltic Dry Index above the 1,500-point mark (1,518), is fu ...
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- Semirara Mining Corp, Philippines
- SMC Global Power, Philippines
- Anglo American - United Kingdom
- Indogreen Group - Indonesia
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- Straits Asia Resources Limited - Singapore
- AsiaOL BioFuels Corp., Philippines
- Ind-Barath Power Infra Limited - India
- Goldman Sachs - Singapore
- Borneo Indobara - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- GN Power Mariveles Coal Plant, Philippines
- Parry Sugars Refinery, India
- Directorate Of Revenue Intelligence - India
- Renaissance Capital - South Africa
- Gujarat Electricity Regulatory Commission - India
- Cigading International Bulk Terminal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- TeaM Sual Corporation - Philippines
- Coal and Oil Company - UAE
- Vedanta Resources Plc - India
- Kideco Jaya Agung - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Billiton Holdings Pty Ltd - Australia
- Makarim & Taira - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Petrochimia International Co. Ltd.- Taiwan
- Uttam Galva Steels Limited - India
- Star Paper Mills Limited - India
- Mercator Lines Limited - India
- Georgia Ports Authority, United States
- Sinarmas Energy and Mining - Indonesia
- GAC Shipping (India) Pvt Ltd
- IHS Mccloskey Coal Group - USA
- Kapuas Tunggal Persada - Indonesia
- Ministry of Mines - Canada
- Bukit Baiduri Energy - Indonesia
- Rio Tinto Coal - Australia
- European Bulk Services B.V. - Netherlands
- Videocon Industries ltd - India
- Larsen & Toubro Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Standard Chartered Bank - UAE
- Vijayanagar Sugar Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Chettinad Cement Corporation Ltd - India
- Sical Logistics Limited - India
- Ministry of Finance - Indonesia
- Coastal Gujarat Power Limited - India
- Latin American Coal - Colombia
- The University of Queensland
- McConnell Dowell - Australia
- Tamil Nadu electricity Board
- GVK Power & Infra Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Africa Commodities Group - South Africa
- ICICI Bank Limited - India
- Bukit Makmur.PT - Indonesia
- MS Steel International - UAE
- Bharathi Cement Corporation - India
- Indian Energy Exchange, India
- Savvy Resources Ltd - HongKong
- Medco Energi Mining Internasional
- Aditya Birla Group - India
- Wood Mackenzie - Singapore
- Kobexindo Tractors - Indoneisa
- Madhucon Powers Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Wilmar Investment Holdings
- Kaltim Prima Coal - Indonesia
- Economic Council, Georgia
- PTC India Limited - India
- Essar Steel Hazira Ltd - India
- Antam Resourcindo - Indonesia
- SMG Consultants - Indonesia
- Energy Link Ltd, New Zealand
- Australian Commodity Traders Exchange
- Global Business Power Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Carbofer General Trading SA - India
- PowerSource Philippines DevCo
- White Energy Company Limited
- Salva Resources Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Pipit Mutiara Jaya. PT, Indonesia
- Simpson Spence & Young - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Electricity Generating Authority of Thailand
- Ambuja Cements Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Interocean Group of Companies - India
- The Treasury - Australian Government
- IEA Clean Coal Centre - UK
- Agrawal Coal Company - India
- Attock Cement Pakistan Limited
- Barasentosa Lestari - Indonesia
- Edison Trading Spa - Italy
- Planning Commission, India
- Meenaskhi Energy Private Limited - India
- Aboitiz Power Corporation - Philippines
- Intertek Mineral Services - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Manunggal Multi Energi - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- SN Aboitiz Power Inc, Philippines
- Commonwealth Bank - Australia
- Sakthi Sugars Limited - India
- San Jose City I Power Corp, Philippines
- Price Waterhouse Coopers - Russia
- Eastern Coal Council - USA
- Bangladesh Power Developement Board
- Global Green Power PLC Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Ceylon Electricity Board - Sri Lanka
- Metalloyd Limited - United Kingdom
- Energy Development Corp, Philippines
- Indian Oil Corporation Limited
- Electricity Authority, New Zealand
- Jindal Steel & Power Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Samtan Co., Ltd - South Korea
- Mjunction Services Limited - India
- Bulk Trading Sa - Switzerland
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Cement Manufacturers Association - India
- Krishnapatnam Port Company Ltd. - India
- Coalindo Energy - Indonesia
- Minerals Council of Australia
- Bahari Cakrawala Sebuku - Indonesia
- Grasim Industreis Ltd - India
- Gujarat Sidhee Cement - India
- Central Electricity Authority - India
- Heidelberg Cement - Germany
- Eastern Energy - Thailand
- Power Finance Corporation Ltd., India
- Meralco Power Generation, Philippines
- Indo Tambangraya Megah - Indonesia
- Central Java Power - Indonesia
- Binh Thuan Hamico - Vietnam
- Singapore Mercantile Exchange
- Siam City Cement PLC, Thailand
- Bhushan Steel Limited - India
- Deloitte Consulting - India
- South Luzon Thermal Energy Corporation
- Global Coal Blending Company Limited - Australia
- Sojitz Corporation - Japan
- Riau Bara Harum - Indonesia
- Timah Investasi Mineral - Indoneisa
- Pendopo Energi Batubara - Indonesia
- Leighton Contractors Pty Ltd - Australia
- GMR Energy Limited - India
- Toyota Tsusho Corporation, Japan
- Merrill Lynch Commodities Europe
- VISA Power Limited - India
- Australian Coal Association
- Kartika Selabumi Mining - Indonesia
- Independent Power Producers Association of India
- CIMB Investment Bank - Malaysia
- Therma Luzon, Inc, Philippines
- Lanco Infratech Ltd - India
- India Bulls Power Limited - India
- Globalindo Alam Lestari - Indonesia
- New Zealand Coal & Carbon
- Posco Energy - South Korea
- Jaiprakash Power Ventures ltd
- Xindia Steels Limited - India
- Thai Mozambique Logistica
- ASAPP Information Group - India
- Karaikal Port Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Port Waratah Coal Services - Australia
- Oldendorff Carriers - Singapore
- PNOC Exploration Corporation - Philippines
- Chamber of Mines of South Africa
- TNB Fuel Sdn Bhd - Malaysia
- Altura Mining Limited, Indonesia
- Iligan Light & Power Inc, Philippines
- Marubeni Corporation - India
- Mintek Dendrill Indonesia
- Mercuria Energy - Indonesia
- Ministry of Transport, Egypt
- International Coal Ventures Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Rashtriya Ispat Nigam Limited - India
- Parliament of New Zealand
- Banpu Public Company Limited - Thailand
- London Commodity Brokers - England
- OPG Power Generation Pvt Ltd - India
- Indonesian Coal Mining Association
- LBH Netherlands Bv - Netherlands
- Indika Energy - Indonesia
- CNBM International Corporation - China
- Petron Corporation, Philippines
- Thiess Contractors Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bhoruka Overseas - Indonesia
- Dalmia Cement Bharat India
- Sree Jayajothi Cements Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vizag Seaport Private Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Siam City Cement - Thailand
- Orica Australia Pty. Ltd.
- Kumho Petrochemical, South Korea
- Tata Chemicals Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Bhatia International Limited - India
- Romanian Commodities Exchange
- Malabar Cements Ltd - India
- Orica Mining Services - Indonesia
- Trasteel International SA, Italy
- Baramulti Group, Indonesia
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