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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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Thursday, 06 February 14
THE WORLD LARGEST COAL EXPORTER SHIPPED AROUND 35.90 MMT OF COAL IN DECEMBER 2013
COALspot.com: Indonesia, the world 4th largest coal producer and the Global largest multi grade coal exporter shipped around $2* billion worth ...
Thursday, 06 February 14
PANAMAX: FAR EAST IS ALMOST ABSENT AND ATLANTIC ON SLOW STEAM
Handy
Due to ongoing Chinese New Year the market is still quiet. Slowly we can see some fresh coal cargos entering the market with second half Feb/ ...
Wednesday, 05 February 14
DRY BULK MARKET HAS LOST FURTHER GROUND THIS PAST WEEK - INTERMODAL
COALspot.com: The Dry Bulk market has lost further ground this past week as activity ex-Far East disappeared into the Chinese holidays and owners id ...
Wednesday, 05 February 14
MARKET INSIGHT - TASOS PAPADOPOULOS
KNOWLEDGE TO ELEVATE
COALspot.com: Let's take a break from market prospects, numbers, order book etc. and shed some light on the conclusions of ...
Tuesday, 04 February 14
NEWCASTLE PORT'S WEEKLY COAL EXPORTS HIT NEW HIGH OF 3.53 MMT
COALspot.com: In the week ended 3 February 2014, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensland, totalled ...
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- McConnell Dowell - Australia
- Altura Mining Limited, Indonesia
- Tamil Nadu electricity Board
- Straits Asia Resources Limited - Singapore
- Baramulti Group, Indonesia
- Jaiprakash Power Ventures ltd
- Indika Energy - Indonesia
- Central Java Power - Indonesia
- Independent Power Producers Association of India
- IEA Clean Coal Centre - UK
- Semirara Mining and Power Corporation, Philippines
- Lanco Infratech Ltd - India
- India Bulls Power Limited - India
- Bukit Makmur.PT - Indonesia
- Petron Corporation, Philippines
- GMR Energy Limited - India
- Larsen & Toubro Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Bangladesh Power Developement Board
- Star Paper Mills Limited - India
- Kumho Petrochemical, South Korea
- Ministry of Mines - Canada
- Barasentosa Lestari - Indonesia
- Economic Council, Georgia
- Binh Thuan Hamico - Vietnam
- Global Coal Blending Company Limited - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Siam City Cement - Thailand
- Merrill Lynch Commodities Europe
- White Energy Company Limited
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Standard Chartered Bank - UAE
- Eastern Coal Council - USA
- Vizag Seaport Private Limited - India
- Gujarat Sidhee Cement - India
- Karbindo Abesyapradhi - Indoneisa
- Goldman Sachs - Singapore
- Indian Oil Corporation Limited
- Videocon Industries ltd - India
- Alfred C Toepfer International GmbH - Germany
- Sical Logistics Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Wood Mackenzie - Singapore
- Posco Energy - South Korea
- Indogreen Group - Indonesia
- Sindya Power Generating Company Private Ltd
- Cigading International Bulk Terminal - Indonesia
- Coalindo Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Agrawal Coal Company - India
- Tata Chemicals Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Electricity Generating Authority of Thailand
- Jindal Steel & Power Ltd - India
- The Treasury - Australian Government
- Sakthi Sugars Limited - India
- Energy Link Ltd, New Zealand
- Global Green Power PLC Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Australian Commodity Traders Exchange
- Sree Jayajothi Cements Limited - India
- LBH Netherlands Bv - Netherlands
- Toyota Tsusho Corporation, Japan
- Kalimantan Lumbung Energi - Indonesia
- Iligan Light & Power Inc, Philippines
- Salva Resources Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Bayan Resources Tbk. - Indonesia
- Bhoruka Overseas - Indonesia
- AsiaOL BioFuels Corp., Philippines
- PowerSource Philippines DevCo
- Makarim & Taira - Indonesia
- Aboitiz Power Corporation - Philippines
- Coastal Gujarat Power Limited - India
- Orica Australia Pty. Ltd.
- Parliament of New Zealand
- Xindia Steels Limited - India
- Price Waterhouse Coopers - Russia
- Aditya Birla Group - India
- International Coal Ventures Pvt Ltd - India
- Eastern Energy - Thailand
- Carbofer General Trading SA - India
- London Commodity Brokers - England
- Rashtriya Ispat Nigam Limited - India
- Malabar Cements Ltd - India
- South Luzon Thermal Energy Corporation
- Wilmar Investment Holdings
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Anglo American - United Kingdom
- Intertek Mineral Services - Indonesia
- Kideco Jaya Agung - Indonesia
- Vedanta Resources Plc - India
- Edison Trading Spa - Italy
- Neyveli Lignite Corporation Ltd, - India
- Miang Besar Coal Terminal - Indonesia
- MS Steel International - UAE
- Ministry of Finance - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Trasteel International SA, Italy
- Indo Tambangraya Megah - Indonesia
- Pendopo Energi Batubara - Indonesia
- Africa Commodities Group - South Africa
- SN Aboitiz Power Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Mjunction Services Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Kepco SPC Power Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Chamber of Mines of South Africa
- Marubeni Corporation - India
- Savvy Resources Ltd - HongKong
- Petrochimia International Co. Ltd.- Taiwan
- Mercator Lines Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Oldendorff Carriers - Singapore
- Globalindo Alam Lestari - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Singapore Mercantile Exchange
- Siam City Cement PLC, Thailand
- Riau Bara Harum - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Timah Investasi Mineral - Indoneisa
- European Bulk Services B.V. - Netherlands
- Commonwealth Bank - Australia
- Borneo Indobara - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Coal and Oil Company - UAE
- Cement Manufacturers Association - India
- San Jose City I Power Corp, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Sarangani Energy Corporation, Philippines
- Australian Coal Association
- Gujarat Electricity Regulatory Commission - India
- Manunggal Multi Energi - Indonesia
- Metalloyd Limited - United Kingdom
- Medco Energi Mining Internasional
- Parry Sugars Refinery, India
- Deloitte Consulting - India
- Therma Luzon, Inc, Philippines
- Semirara Mining Corp, Philippines
- Georgia Ports Authority, United States
- Kartika Selabumi Mining - Indonesia
- Attock Cement Pakistan Limited
- Central Electricity Authority - India
- Bukit Baiduri Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Port Waratah Coal Services - Australia
- Indian Energy Exchange, India
- Simpson Spence & Young - Indonesia
- Kobexindo Tractors - Indoneisa
- Energy Development Corp, Philippines
- Antam Resourcindo - Indonesia
- Ministry of Transport, Egypt
- Kaltim Prima Coal - Indonesia
- CIMB Investment Bank - Malaysia
- New Zealand Coal & Carbon
- Directorate Of Revenue Intelligence - India
- Interocean Group of Companies - India
- Essar Steel Hazira Ltd - India
- GVK Power & Infra Limited - India
- Latin American Coal - Colombia
- Mercuria Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Krishnapatnam Port Company Ltd. - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GAC Shipping (India) Pvt Ltd
- The State Trading Corporation of India Ltd
- VISA Power Limited - India
- Mintek Dendrill Indonesia
- Meralco Power Generation, Philippines
- CNBM International Corporation - China
- Karaikal Port Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- SMG Consultants - Indonesia
- OPG Power Generation Pvt Ltd - India
- Bharathi Cement Corporation - India
- Billiton Holdings Pty Ltd - Australia
- Orica Mining Services - Indonesia
- Romanian Commodities Exchange
- Power Finance Corporation Ltd., India
- SMC Global Power, Philippines
- Minerals Council of Australia
- IHS Mccloskey Coal Group - USA
- Thai Mozambique Logistica
- Chettinad Cement Corporation Ltd - India
- Sinarmas Energy and Mining - Indonesia
- PTC India Limited - India
- The University of Queensland
- Samtan Co., Ltd - South Korea
- Global Business Power Corporation, Philippines
- Planning Commission, India
- Meenaskhi Energy Private Limited - India
- Bhushan Steel Limited - India
- Ambuja Cements Ltd - India
- Electricity Authority, New Zealand
- Holcim Trading Pte Ltd - Singapore
- ICICI Bank Limited - India
- Bulk Trading Sa - Switzerland
- Heidelberg Cement - Germany
- Dalmia Cement Bharat India
- ASAPP Information Group - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sojitz Corporation - Japan
- GN Power Mariveles Coal Plant, Philippines
- TeaM Sual Corporation - Philippines
- Rio Tinto Coal - Australia
- Bhatia International Limited - India
- Grasim Industreis Ltd - India
- Indonesian Coal Mining Association
- Thiess Contractors Indonesia
- Renaissance Capital - South Africa
- Madhucon Powers Ltd - India
- Uttam Galva Steels Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Formosa Plastics Group - Taiwan
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