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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, 25 February 14
SGX'S MONTHLY VOLUMES DRASTICALLY INCREASED AND REACHED A RECORD OF 810K TONNES YEAR-ON-YEAR
COALspot.com: SGX Thermal Coal derivatives started the new year with record volumes in January on the back of higher volatility, says SGX.
Accord ...
Monday, 24 February 14
DRY BULK MARKET TO IMPROVE OVER THE COURSE OF 2014, BUT OVERSUPPLY STILL AN ISSUE SAYS BIMCO'S CHIEF SHIPPING ANALYST
As a gruelling first quarter edges closer to the end, dry bulk ship owners are looking at an improved second quarter demand, which, coupled with slo ...
Monday, 24 February 14
INDONESIAN SUB-BITUMINOUS COAL SWAP FOR DELIVERY APRIL - JUNE 2014 SLIDES TO $ 58.60 PMT
COALspot.com – Indonesia, the world’s the largest exporter of the thermal coal's swaps for delivery April - June 2014 slide week ended ...
Monday, 24 February 14
Q1 2015 DELIVERY COAL SWAP CLOSED AT 2.62% HIGHER THAN Q2 2014 CLOSING SWAPS
COALspot.com: API 8 CFR South China Coal swaps for average Q2 14 deliveries lost 2.68 percent month on month and closed at US$ 76.20 per mt as on Fr ...
Saturday, 22 February 14
SHIPPING POISED TO RALLY AFTER SEVERAL WEEKS OF DROP
COALspot.com: The freight market was steady to firm with the dry bulk index up by 6.24 pct closing at 1,175 points week on week and the cape index w ...
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- Timah Investasi Mineral - Indoneisa
- Ministry of Mines - Canada
- Sinarmas Energy and Mining - Indonesia
- Parry Sugars Refinery, India
- ICICI Bank Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Romanian Commodities Exchange
- Dalmia Cement Bharat India
- Karaikal Port Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Madhucon Powers Ltd - India
- Borneo Indobara - Indonesia
- SMC Global Power, Philippines
- Indo Tambangraya Megah - Indonesia
- International Coal Ventures Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Marubeni Corporation - India
- Aditya Birla Group - India
- London Commodity Brokers - England
- TeaM Sual Corporation - Philippines
- Pendopo Energi Batubara - Indonesia
- Vedanta Resources Plc - India
- Meenaskhi Energy Private Limited - India
- Larsen & Toubro Limited - India
- Bukit Makmur.PT - Indonesia
- Sree Jayajothi Cements Limited - India
- Makarim & Taira - Indonesia
- Kepco SPC Power Corporation, Philippines
- Meralco Power Generation, Philippines
- Orica Mining Services - Indonesia
- Wood Mackenzie - Singapore
- VISA Power Limited - India
- Ceylon Electricity Board - Sri Lanka
- Krishnapatnam Port Company Ltd. - India
- Eastern Energy - Thailand
- Sarangani Energy Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Samtan Co., Ltd - South Korea
- Altura Mining Limited, Indonesia
- Essar Steel Hazira Ltd - India
- Tata Chemicals Ltd - India
- Maheswari Brothers Coal Limited - India
- Australian Commodity Traders Exchange
- Ind-Barath Power Infra Limited - India
- Sakthi Sugars Limited - India
- Central Electricity Authority - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indogreen Group - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Directorate Of Revenue Intelligence - India
- Planning Commission, India
- Goldman Sachs - Singapore
- Indian Oil Corporation Limited
- The University of Queensland
- Uttam Galva Steels Limited - India
- Heidelberg Cement - Germany
- Coastal Gujarat Power Limited - India
- Gujarat Electricity Regulatory Commission - India
- Lanco Infratech Ltd - India
- Kideco Jaya Agung - Indonesia
- San Jose City I Power Corp, Philippines
- SMG Consultants - Indonesia
- Latin American Coal - Colombia
- Sindya Power Generating Company Private Ltd
- Posco Energy - South Korea
- Toyota Tsusho Corporation, Japan
- Electricity Authority, New Zealand
- Parliament of New Zealand
- Australian Coal Association
- Chamber of Mines of South Africa
- Jindal Steel & Power Ltd - India
- India Bulls Power Limited - India
- Grasim Industreis Ltd - India
- Sojitz Corporation - Japan
- Mintek Dendrill Indonesia
- Economic Council, Georgia
- Kalimantan Lumbung Energi - Indonesia
- Siam City Cement - Thailand
- Indika Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Bangladesh Power Developement Board
- Semirara Mining Corp, Philippines
- Thiess Contractors Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Ambuja Cements Ltd - India
- Thai Mozambique Logistica
- PNOC Exploration Corporation - Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- OPG Power Generation Pvt Ltd - India
- PowerSource Philippines DevCo
- Anglo American - United Kingdom
- Petrochimia International Co. Ltd.- Taiwan
- Globalindo Alam Lestari - Indonesia
- Rio Tinto Coal - Australia
- Iligan Light & Power Inc, Philippines
- Straits Asia Resources Limited - Singapore
- White Energy Company Limited
- Salva Resources Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Kapuas Tunggal Persada - Indonesia
- Trasteel International SA, Italy
- Africa Commodities Group - South Africa
- Kartika Selabumi Mining - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Tamil Nadu electricity Board
- Commonwealth Bank - Australia
- GN Power Mariveles Coal Plant, Philippines
- Gujarat Sidhee Cement - India
- GVK Power & Infra Limited - India
- Global Business Power Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Semirara Mining and Power Corporation, Philippines
- Sical Logistics Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- MS Steel International - UAE
- Maharashtra Electricity Regulatory Commission - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Cement Manufacturers Association - India
- Bulk Trading Sa - Switzerland
- Georgia Ports Authority, United States
- CIMB Investment Bank - Malaysia
- Vizag Seaport Private Limited - India
- Intertek Mineral Services - Indonesia
- Energy Link Ltd, New Zealand
- Holcim Trading Pte Ltd - Singapore
- The Treasury - Australian Government
- Deloitte Consulting - India
- Chettinad Cement Corporation Ltd - India
- Coalindo Energy - Indonesia
- Banpu Public Company Limited - Thailand
- New Zealand Coal & Carbon
- McConnell Dowell - Australia
- PTC India Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Therma Luzon, Inc, Philippines
- Mjunction Services Limited - India
- Minerals Council of Australia
- Billiton Holdings Pty Ltd - Australia
- Bhushan Steel Limited - India
- Bukit Baiduri Energy - Indonesia
- Ministry of Finance - Indonesia
- Carbofer General Trading SA - India
- Kumho Petrochemical, South Korea
- European Bulk Services B.V. - Netherlands
- Oldendorff Carriers - Singapore
- LBH Netherlands Bv - Netherlands
- Central Java Power - Indonesia
- GAC Shipping (India) Pvt Ltd
- Videocon Industries ltd - India
- Kaltim Prima Coal - Indonesia
- Wilmar Investment Holdings
- South Luzon Thermal Energy Corporation
- Edison Trading Spa - Italy
- Coal and Oil Company - UAE
- Barasentosa Lestari - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Savvy Resources Ltd - HongKong
- Aboitiz Power Corporation - Philippines
- Mercator Lines Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Xindia Steels Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Kohat Cement Company Ltd. - Pakistan
- Baramulti Group, Indonesia
- AsiaOL BioFuels Corp., Philippines
- Port Waratah Coal Services - Australia
- Ministry of Transport, Egypt
- Jaiprakash Power Ventures ltd
- Standard Chartered Bank - UAE
- CNBM International Corporation - China
- Price Waterhouse Coopers - Russia
- Bharathi Cement Corporation - India
- Singapore Mercantile Exchange
- Mercuria Energy - Indonesia
- Formosa Plastics Group - Taiwan
- GMR Energy Limited - India
- Cigading International Bulk Terminal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Bhoruka Overseas - Indonesia
- Indian Energy Exchange, India
- Directorate General of MIneral and Coal - Indonesia
- Bhatia International Limited - India
- ASAPP Information Group - India
- IHS Mccloskey Coal Group - USA
- Gujarat Mineral Development Corp Ltd - India
- Malabar Cements Ltd - India
- Merrill Lynch Commodities Europe
- Electricity Generating Authority of Thailand
- Antam Resourcindo - Indonesia
- Metalloyd Limited - United Kingdom
- Indonesian Coal Mining Association
- Karbindo Abesyapradhi - Indoneisa
- The State Trading Corporation of India Ltd
- Petron Corporation, Philippines
- Agrawal Coal Company - India
- Renaissance Capital - South Africa
- Orica Australia Pty. Ltd.
- Miang Besar Coal Terminal - Indonesia
- Medco Energi Mining Internasional
- Star Paper Mills Limited - India
- Independent Power Producers Association of India
- Alfred C Toepfer International GmbH - Germany
- Energy Development Corp, Philippines
- IEA Clean Coal Centre - UK
- Interocean Group of Companies - India
- Attock Cement Pakistan Limited
- Manunggal Multi Energi - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Eastern Coal Council - USA
- Power Finance Corporation Ltd., India
- Leighton Contractors Pty Ltd - Australia
- TNB Fuel Sdn Bhd - Malaysia
- SN Aboitiz Power Inc, Philippines
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