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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, 10 March 14
THE FREIGHT MARKET WAS QUITE FIRM THIS PAST WEEK
COALspot.com: The freight market was quite firm this past week with BDI sharply increased by 22.65 pct week on week and closed at 1543 points, while ...
Saturday, 08 March 14
LETTERS OF INDEMNITY - SKULD
KNOWLEDGE TO ELEVATE
In today's trading market, owners are frequently requested to accept a letter of indemnity (LOI) in exchange for complying ...
Friday, 07 March 14
DRY BULK MARKET TO BENEFIT FROM CHINA'S GDP GROWTH TARGET - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
With the dry bulk market freight rates finally making waves, China's aim of 7.5% GDP growth for 2014 mean once again positive news for the shipping ...
Friday, 07 March 14
RBCT, WORLD'S LARGEST COAL EXPORTING TERMINAL SHIPPED 1.78% LESS COAL MONTH ON MONTH
COALspot.com: South Africa's Richards Bay Coal Terminal (RBCT) the single largest export coal terminal in the world, shipped 4.487 million tons of ...
Friday, 07 March 14
INDONESIA SHIPPED 7% LESS COAL IN JANUARY 2014 COMPARED TO ITS DECEMBER EXPORTS
COALspot.com: Indonesia, the world 4th largest coal producer and the Global largest multi grade coal exporter shipped around $1.8* billion ...
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- IHS Mccloskey Coal Group - USA
- Holcim Trading Pte Ltd - Singapore
- Madhucon Powers Ltd - India
- Makarim & Taira - Indonesia
- ASAPP Information Group - India
- Sarangani Energy Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Savvy Resources Ltd - HongKong
- Ministry of Mines - Canada
- OPG Power Generation Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Latin American Coal - Colombia
- Ceylon Electricity Board - Sri Lanka
- Antam Resourcindo - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Globalindo Alam Lestari - Indonesia
- Semirara Mining Corp, Philippines
- Chamber of Mines of South Africa
- Manunggal Multi Energi - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Anglo American - United Kingdom
- Rio Tinto Coal - Australia
- San Jose City I Power Corp, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Videocon Industries ltd - India
- Dalmia Cement Bharat India
- Kapuas Tunggal Persada - Indonesia
- SMG Consultants - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Sindya Power Generating Company Private Ltd
- European Bulk Services B.V. - Netherlands
- Mjunction Services Limited - India
- Posco Energy - South Korea
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Metalloyd Limited - United Kingdom
- Cement Manufacturers Association - India
- Bukit Makmur.PT - Indonesia
- Central Java Power - Indonesia
- Maheswari Brothers Coal Limited - India
- The University of Queensland
- CIMB Investment Bank - Malaysia
- TNB Fuel Sdn Bhd - Malaysia
- Coalindo Energy - Indonesia
- Agrawal Coal Company - India
- GN Power Mariveles Coal Plant, Philippines
- Semirara Mining and Power Corporation, Philippines
- VISA Power Limited - India
- Energy Development Corp, Philippines
- GMR Energy Limited - India
- Ministry of Finance - Indonesia
- GVK Power & Infra Limited - India
- Baramulti Group, Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- GAC Shipping (India) Pvt Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Interocean Group of Companies - India
- Standard Chartered Bank - UAE
- Lanco Infratech Ltd - India
- Siam City Cement PLC, Thailand
- Bhushan Steel Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Kartika Selabumi Mining - Indonesia
- India Bulls Power Limited - India
- New Zealand Coal & Carbon
- Global Green Power PLC Corporation, Philippines
- Heidelberg Cement - Germany
- The State Trading Corporation of India Ltd
- Power Finance Corporation Ltd., India
- Sojitz Corporation - Japan
- Global Business Power Corporation, Philippines
- Economic Council, Georgia
- Merrill Lynch Commodities Europe
- Australian Commodity Traders Exchange
- Price Waterhouse Coopers - Russia
- Australian Coal Association
- London Commodity Brokers - England
- Sical Logistics Limited - India
- Global Coal Blending Company Limited - Australia
- Grasim Industreis Ltd - India
- Meralco Power Generation, Philippines
- Meenaskhi Energy Private Limited - India
- Trasteel International SA, Italy
- Ambuja Cements Ltd - India
- Uttam Galva Steels Limited - India
- Parliament of New Zealand
- Cigading International Bulk Terminal - Indonesia
- Planning Commission, India
- Krishnapatnam Port Company Ltd. - India
- Neyveli Lignite Corporation Ltd, - India
- Coal and Oil Company - UAE
- Directorate Of Revenue Intelligence - India
- Kalimantan Lumbung Energi - Indonesia
- Simpson Spence & Young - Indonesia
- Borneo Indobara - Indonesia
- Central Electricity Authority - India
- Gujarat Sidhee Cement - India
- Vedanta Resources Plc - India
- Malabar Cements Ltd - India
- Bharathi Cement Corporation - India
- Barasentosa Lestari - Indonesia
- Orica Mining Services - Indonesia
- Star Paper Mills Limited - India
- Banpu Public Company Limited - Thailand
- Eastern Energy - Thailand
- Kohat Cement Company Ltd. - Pakistan
- International Coal Ventures Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Indian Energy Exchange, India
- Jaiprakash Power Ventures ltd
- Attock Cement Pakistan Limited
- Indogreen Group - Indonesia
- Orica Australia Pty. Ltd.
- Jindal Steel & Power Ltd - India
- Indian Oil Corporation Limited
- Carbofer General Trading SA - India
- PNOC Exploration Corporation - Philippines
- Renaissance Capital - South Africa
- Sree Jayajothi Cements Limited - India
- Binh Thuan Hamico - Vietnam
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indika Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Singapore Mercantile Exchange
- Sinarmas Energy and Mining - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Xindia Steels Limited - India
- Samtan Co., Ltd - South Korea
- Tamil Nadu electricity Board
- The Treasury - Australian Government
- Ministry of Transport, Egypt
- Therma Luzon, Inc, Philippines
- Deloitte Consulting - India
- Miang Besar Coal Terminal - Indonesia
- Larsen & Toubro Limited - India
- Karaikal Port Pvt Ltd - India
- Bhatia International Limited - India
- Independent Power Producers Association of India
- Electricity Authority, New Zealand
- Sakthi Sugars Limited - India
- Altura Mining Limited, Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Rashtriya Ispat Nigam Limited - India
- Bhoruka Overseas - Indonesia
- Indonesian Coal Mining Association
- TeaM Sual Corporation - Philippines
- Vijayanagar Sugar Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Aboitiz Power Corporation - Philippines
- Mintek Dendrill Indonesia
- Billiton Holdings Pty Ltd - Australia
- Commonwealth Bank - Australia
- PowerSource Philippines DevCo
- Kobexindo Tractors - Indoneisa
- Parry Sugars Refinery, India
- Medco Energi Mining Internasional
- Kaltim Prima Coal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Marubeni Corporation - India
- Kumho Petrochemical, South Korea
- Bukit Baiduri Energy - Indonesia
- Mercuria Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Pendopo Energi Batubara - Indonesia
- Wilmar Investment Holdings
- Edison Trading Spa - Italy
- SN Aboitiz Power Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Goldman Sachs - Singapore
- Mercator Lines Limited - India
- Energy Link Ltd, New Zealand
- PetroVietnam Power Coal Import and Supply Company
- Salva Resources Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Thiess Contractors Indonesia
- Wood Mackenzie - Singapore
- Intertek Mineral Services - Indonesia
- Bangladesh Power Developement Board
- Siam City Cement - Thailand
- Minerals Council of Australia
- McConnell Dowell - Australia
- Petron Corporation, Philippines
- CNBM International Corporation - China
- Coastal Gujarat Power Limited - India
- Toyota Tsusho Corporation, Japan
- Aditya Birla Group - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- PTC India Limited - India
- Ind-Barath Power Infra Limited - India
- Kideco Jaya Agung - Indonesia
- Romanian Commodities Exchange
- Eastern Coal Council - USA
- Bukit Asam (Persero) Tbk - Indonesia
- Oldendorff Carriers - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- South Luzon Thermal Energy Corporation
- Timah Investasi Mineral - Indoneisa
- Vizag Seaport Private Limited - India
- SMC Global Power, Philippines
- Georgia Ports Authority, United States
- AsiaOL BioFuels Corp., Philippines
- Riau Bara Harum - Indonesia
- White Energy Company Limited
- Bayan Resources Tbk. - Indonesia
- Bulk Trading Sa - Switzerland
- Chettinad Cement Corporation Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Tata Chemicals Ltd - India
- Kepco SPC Power Corporation, Philippines
- Thai Mozambique Logistica
- Africa Commodities Group - South Africa
- Electricity Generating Authority of Thailand
- Indo Tambangraya Megah - Indonesia
- MS Steel International - UAE
- Essar Steel Hazira Ltd - India
- ICICI Bank Limited - India
- Port Waratah Coal Services - Australia
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