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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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Sunday, 02 March 14
THE FREIGHT MARKET WAS STEADY TO FIRM THIS PAST WEEK - CAPT. REDDY
COALspot.com: The freight market was steady to firm this past week. The BDI was up 7.06 pct and closed at 1258 points and the cape index was also fi ...
Friday, 28 February 14
PTBA TO INCREASE ITS COAL TERMINAL'S LOADING CAPACITY TO 25 MILLION TONS PER ANNUM BY JULY 2014
COALspot.com: PT. Bukit Asam (PTBA), the Indonesian government owned coal miner operates several coal mining units in Sumatera as well as in Kaliman ...
Friday, 28 February 14
U.S PRODUCED 1.9% LESS COAL WEEK ON WEEK
COALspot.com – United States the world’s second largest coal producer, produced approximately 18.8 million short tons (mmst) of coal in ...
Friday, 28 February 14
DRY BULK MARKET SLOWLY BUT STEADILY FINDS ITS FOOTING - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market, hit by the low seasonal demand which is a typical characteristic of the first quarter of each year, is beginning to emerge from ...
Thursday, 27 February 14
PANAMAX : MARKET CONTINUED TO DECLINE IN THE ATLANTIC
Handy
The Atlantic handy/supra market experienced a downward trend this week but not a dramatic one. TA rates are down around USD 800 w-o-w lead b ...
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- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Formosa Plastics Group - Taiwan
- Australian Coal Association
- Orica Mining Services - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Antam Resourcindo - Indonesia
- PNOC Exploration Corporation - Philippines
- Orica Australia Pty. Ltd.
- Maharashtra Electricity Regulatory Commission - India
- Electricity Generating Authority of Thailand
- Standard Chartered Bank - UAE
- Sinarmas Energy and Mining - Indonesia
- The Treasury - Australian Government
- Kartika Selabumi Mining - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Savvy Resources Ltd - HongKong
- Neyveli Lignite Corporation Ltd, - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Maheswari Brothers Coal Limited - India
- Indika Energy - Indonesia
- Cement Manufacturers Association - India
- Malabar Cements Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Central Electricity Authority - India
- Coalindo Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Wilmar Investment Holdings
- Singapore Mercantile Exchange
- Global Coal Blending Company Limited - Australia
- Straits Asia Resources Limited - Singapore
- Ambuja Cements Ltd - India
- New Zealand Coal & Carbon
- Ministry of Transport, Egypt
- Timah Investasi Mineral - Indoneisa
- Marubeni Corporation - India
- Bukit Makmur.PT - Indonesia
- Latin American Coal - Colombia
- Pendopo Energi Batubara - Indonesia
- Riau Bara Harum - Indonesia
- London Commodity Brokers - England
- Indian Energy Exchange, India
- Petron Corporation, Philippines
- Madhucon Powers Ltd - India
- Edison Trading Spa - Italy
- Chamber of Mines of South Africa
- Global Business Power Corporation, Philippines
- ASAPP Information Group - India
- Binh Thuan Hamico - Vietnam
- Sical Logistics Limited - India
- SMG Consultants - Indonesia
- SMC Global Power, Philippines
- Meralco Power Generation, Philippines
- Indian Oil Corporation Limited
- LBH Netherlands Bv - Netherlands
- Barasentosa Lestari - Indonesia
- Commonwealth Bank - Australia
- Mercator Lines Limited - India
- Trasteel International SA, Italy
- Vedanta Resources Plc - India
- Grasim Industreis Ltd - India
- Uttam Galva Steels Limited - India
- Star Paper Mills Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Parry Sugars Refinery, India
- Semirara Mining Corp, Philippines
- Bayan Resources Tbk. - Indonesia
- Electricity Authority, New Zealand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- IHS Mccloskey Coal Group - USA
- ICICI Bank Limited - India
- Banpu Public Company Limited - Thailand
- Thiess Contractors Indonesia
- OPG Power Generation Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Chettinad Cement Corporation Ltd - India
- Samtan Co., Ltd - South Korea
- GMR Energy Limited - India
- CNBM International Corporation - China
- TeaM Sual Corporation - Philippines
- Sojitz Corporation - Japan
- Therma Luzon, Inc, Philippines
- Port Waratah Coal Services - Australia
- Romanian Commodities Exchange
- Global Green Power PLC Corporation, Philippines
- Tamil Nadu electricity Board
- Petrochimia International Co. Ltd.- Taiwan
- Toyota Tsusho Corporation, Japan
- Indonesian Coal Mining Association
- McConnell Dowell - Australia
- Larsen & Toubro Limited - India
- Sindya Power Generating Company Private Ltd
- Posco Energy - South Korea
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Eastern Energy - Thailand
- Mintek Dendrill Indonesia
- Aditya Birla Group - India
- Semirara Mining and Power Corporation, Philippines
- Baramulti Group, Indonesia
- The University of Queensland
- Jaiprakash Power Ventures ltd
- Sree Jayajothi Cements Limited - India
- Rio Tinto Coal - Australia
- Deloitte Consulting - India
- The State Trading Corporation of India Ltd
- Thai Mozambique Logistica
- Sarangani Energy Corporation, Philippines
- Renaissance Capital - South Africa
- Bank of Tokyo Mitsubishi UFJ Ltd
- CIMB Investment Bank - Malaysia
- Karaikal Port Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Australian Commodity Traders Exchange
- Videocon Industries ltd - India
- Siam City Cement - Thailand
- Mercuria Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Planning Commission, India
- Iligan Light & Power Inc, Philippines
- Bharathi Cement Corporation - India
- Bhatia International Limited - India
- PetroVietnam Power Coal Import and Supply Company
- International Coal Ventures Pvt Ltd - India
- GVK Power & Infra Limited - India
- Economic Council, Georgia
- Coastal Gujarat Power Limited - India
- Tata Chemicals Ltd - India
- PowerSource Philippines DevCo
- Energy Development Corp, Philippines
- GAC Shipping (India) Pvt Ltd
- Simpson Spence & Young - Indonesia
- Price Waterhouse Coopers - Russia
- Anglo American - United Kingdom
- IEA Clean Coal Centre - UK
- Ministry of Mines - Canada
- Energy Link Ltd, New Zealand
- Medco Energi Mining Internasional
- Lanco Infratech Ltd - India
- Alfred C Toepfer International GmbH - Germany
- MS Steel International - UAE
- Sakthi Sugars Limited - India
- Dalmia Cement Bharat India
- Kobexindo Tractors - Indoneisa
- San Jose City I Power Corp, Philippines
- SN Aboitiz Power Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Parliament of New Zealand
- White Energy Company Limited
- Bangladesh Power Developement Board
- Ministry of Finance - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Asmin Koalindo Tuhup - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Siam City Cement PLC, Thailand
- Salva Resources Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Globalindo Alam Lestari - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Makarim & Taira - Indonesia
- Carbofer General Trading SA - India
- VISA Power Limited - India
- Central Java Power - Indonesia
- South Luzon Thermal Energy Corporation
- Agrawal Coal Company - India
- Independent Power Producers Association of India
- Merrill Lynch Commodities Europe
- Minerals Council of Australia
- Intertek Mineral Services - Indonesia
- Coal and Oil Company - UAE
- Jindal Steel & Power Ltd - India
- Ind-Barath Power Infra Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Xindia Steels Limited - India
- Krishnapatnam Port Company Ltd. - India
- Holcim Trading Pte Ltd - Singapore
- Bukit Baiduri Energy - Indonesia
- Borneo Indobara - Indonesia
- Essar Steel Hazira Ltd - India
- Kumho Petrochemical, South Korea
- Goldman Sachs - Singapore
- Indogreen Group - Indonesia
- Bulk Trading Sa - Switzerland
- Heidelberg Cement - Germany
- Africa Commodities Group - South Africa
- PTC India Limited - India
- Oldendorff Carriers - Singapore
- India Bulls Power Limited - India
- Kepco SPC Power Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Directorate Of Revenue Intelligence - India
- TNB Fuel Sdn Bhd - Malaysia
- European Bulk Services B.V. - Netherlands
- Kideco Jaya Agung - Indonesia
- Wood Mackenzie - Singapore
- Gujarat Sidhee Cement - India
- Attock Cement Pakistan Limited
- Kohat Cement Company Ltd. - Pakistan
- Karbindo Abesyapradhi - Indoneisa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Interocean Group of Companies - India
- Gujarat Mineral Development Corp Ltd - India
- Meenaskhi Energy Private Limited - India
- Altura Mining Limited, Indonesia
- Georgia Ports Authority, United States
- Mjunction Services Limited - India
- Metalloyd Limited - United Kingdom
- Pipit Mutiara Jaya. PT, Indonesia
- Ceylon Electricity Board - Sri Lanka
- Eastern Coal Council - USA
- Manunggal Multi Energi - Indonesia
- Vizag Seaport Private Limited - India
- Rashtriya Ispat Nigam Limited - India
- Power Finance Corporation Ltd., India
- Leighton Contractors Pty Ltd - Australia
- Bhushan Steel Limited - India
- Indo Tambangraya Megah - Indonesia
- Kaltim Prima Coal - Indonesia
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