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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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Tuesday, 18 March 14
SECOND QUARTER SUB-BIT FOB INDONESIA COAL SWAP LOST 3.27% IN A MONTH
COALspot.com – Indonesia, the world’s largest exporter of the thermal coal's swaps for delivery April - June 2014 gained this pa ...
Tuesday, 18 March 14
NEWCASTLE COAL EXPORT VOLUME FALLS 26.23% WEEK ON WEEK
COALspot.com: In the week ended 17 March 2014, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensland, total 2 ...
Monday, 17 March 14
API 8 CFR SOUTH CHINA COAL SWAPS FOR AVERAGE Q2 14 DELIVERIES LOST 2.59% M-O-M
COALspot.com: API 8 CFR South China Coal swaps for average Q2 14 deliveries lost 2.59 percent month on month and closed at US$ 74.15 per mt as o ...
Sunday, 16 March 14
BDI DOWN ON LOW CAPESIZE ACTIVITY
COALspot.com: The freight market was slightly soft this week with BDI down by 4.28 pct week on week. The BDI closed at 1,477 points and the cape ...
Friday, 14 March 14
DRY BULK MARKET ENTERS RECOVERY MODE, ON INCREASED CAPESIZE DEMAND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market has entered and sustained higher ground as of this week, on the back on increased Capesize demand. Although the situation in ...
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- Parliament of New Zealand
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- South Luzon Thermal Energy Corporation
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- Australian Coal Association
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- Krishnapatnam Port Company Ltd. - India
- Siam City Cement PLC, Thailand
- Renaissance Capital - South Africa
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- Indonesian Coal Mining Association
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- Deloitte Consulting - India
- Australian Commodity Traders Exchange
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- Xindia Steels Limited - India
- Rio Tinto Coal - Australia
- Posco Energy - South Korea
- Intertek Mineral Services - Indonesia
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- Merrill Lynch Commodities Europe
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- Bank of Tokyo Mitsubishi UFJ Ltd
- Jaiprakash Power Ventures ltd
- Ministry of Mines - Canada
- PowerSource Philippines DevCo
- Goldman Sachs - Singapore
- Miang Besar Coal Terminal - Indonesia
- Indian Energy Exchange, India
- Star Paper Mills Limited - India
- Jindal Steel & Power Ltd - India
- Coalindo Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Commonwealth Bank - Australia
- Riau Bara Harum - Indonesia
- Global Green Power PLC Corporation, Philippines
- Grasim Industreis Ltd - India
- Mercuria Energy - Indonesia
- Borneo Indobara - Indonesia
- Power Finance Corporation Ltd., India
- Coastal Gujarat Power Limited - India
- Simpson Spence & Young - Indonesia
- Mintek Dendrill Indonesia
- Sindya Power Generating Company Private Ltd
- TeaM Sual Corporation - Philippines
- Kaltim Prima Coal - Indonesia
- Directorate Of Revenue Intelligence - India
- SMG Consultants - Indonesia
- Bhushan Steel Limited - India
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- Bangladesh Power Developement Board
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- Bukit Makmur.PT - Indonesia
- Cement Manufacturers Association - India
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- Sinarmas Energy and Mining - Indonesia
- Lanco Infratech Ltd - India
- Tata Chemicals Ltd - India
- Electricity Generating Authority of Thailand
- The University of Queensland
- The Treasury - Australian Government
- MS Steel International - UAE
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- Kepco SPC Power Corporation, Philippines
- Malabar Cements Ltd - India
- CNBM International Corporation - China
- Kapuas Tunggal Persada - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Altura Mining Limited, Indonesia
- Electricity Authority, New Zealand
- TNB Fuel Sdn Bhd - Malaysia
- Global Coal Blending Company Limited - Australia
- AsiaOL BioFuels Corp., Philippines
- Indogreen Group - Indonesia
- Dalmia Cement Bharat India
- Semirara Mining Corp, Philippines
- Standard Chartered Bank - UAE
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- Bhatia International Limited - India
- OPG Power Generation Pvt Ltd - India
- Africa Commodities Group - South Africa
- Port Waratah Coal Services - Australia
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- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Energy Development Corp, Philippines
- Eastern Coal Council - USA
- Bhoruka Overseas - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kohat Cement Company Ltd. - Pakistan
- Sarangani Energy Corporation, Philippines
- Baramulti Group, Indonesia
- Indian Oil Corporation Limited
- Trasteel International SA, Italy
- Toyota Tsusho Corporation, Japan
- Kumho Petrochemical, South Korea
- Thai Mozambique Logistica
- Bahari Cakrawala Sebuku - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Carbofer General Trading SA - India
- Maharashtra Electricity Regulatory Commission - India
- Therma Luzon, Inc, Philippines
- Coal and Oil Company - UAE
- White Energy Company Limited
- Aboitiz Power Corporation - Philippines
- London Commodity Brokers - England
- Holcim Trading Pte Ltd - Singapore
- Tamil Nadu electricity Board
- Ind-Barath Power Infra Limited - India
- ICICI Bank Limited - India
- Parry Sugars Refinery, India
- Gujarat Electricity Regulatory Commission - India
- Barasentosa Lestari - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Vedanta Resources Plc - India
- Orica Mining Services - Indonesia
- International Coal Ventures Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Gujarat Mineral Development Corp Ltd - India
- Madhucon Powers Ltd - India
- Straits Asia Resources Limited - Singapore
- Vizag Seaport Private Limited - India
- Sical Logistics Limited - India
- Meralco Power Generation, Philippines
- Karaikal Port Pvt Ltd - India
- Interocean Group of Companies - India
- India Bulls Power Limited - India
- Romanian Commodities Exchange
- Pipit Mutiara Jaya. PT, Indonesia
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- Directorate General of MIneral and Coal - Indonesia
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- Bukit Baiduri Energy - Indonesia
- Oldendorff Carriers - Singapore
- Sree Jayajothi Cements Limited - India
- Economic Council, Georgia
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