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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, 28 January 14
RESOURCE NATIONALISM OR PROTECTIONISM FOR THE MINING AND EXTRACTIVES INDUSTRY - JOHN WHITTAKER & MICHAEL SWANGARD
Resource nationalism or protectionism for the mining and extractives industry as well as soft commodities sector and the oil industry.
‘Res ...
Tuesday, 28 January 14
DRY BULK SHIP OWNERS RETREAT TO OLD 'HABITS', REFUSING TO DEMOLISH OLD VESSELS, THREATENING MARKET RECOVERY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
If one thing is clear as we reflect on the 2013 shipping markets, it's that ship owners took advantage of low prices, in order to acquire newer ton ...
Monday, 27 January 14
MERCATOR SINGAPORE REPORTS 52% INCREASE IN EBITDA FOR Q3 FY 2014 AS COMPARED TO PREVIOUS QUARTER
COALspot.com: Mercator Lines (Singapore) Limited, a leading Indian-owned international dry bulk shipping company that operates a fleet of fourteen d ...
Monday, 27 January 14
13TH CLEAN COAL FORUM 2014
COALspot.com: (Press Release) - Produced by CDMC Events, The 13th Clean Coal Forum 2014 will be held on June 12 &13 2014 in Beijing, China. We a ...
Monday, 27 January 14
Q3 & Q4 API 8 CFR SOUTH CHINA COAL SWAPS CONTINUE TO REMAIN WEAK
COALspot.com: API 8 CFR South China Coal swaps for average Q1 14 delivery lost 4.45 percent month on month and closed at US$ 79.05 per mt as on Frid ...
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- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Planning Commission, India
- Economic Council, Georgia
- Kalimantan Lumbung Energi - Indonesia
- Mercuria Energy - Indonesia
- ASAPP Information Group - India
- SMC Global Power, Philippines
- Rio Tinto Coal - Australia
- Port Waratah Coal Services - Australia
- GN Power Mariveles Coal Plant, Philippines
- Billiton Holdings Pty Ltd - Australia
- Independent Power Producers Association of India
- Kumho Petrochemical, South Korea
- Vedanta Resources Plc - India
- Straits Asia Resources Limited - Singapore
- Siam City Cement - Thailand
- GMR Energy Limited - India
- Videocon Industries ltd - India
- Energy Development Corp, Philippines
- Kideco Jaya Agung - Indonesia
- Orica Mining Services - Indonesia
- Central Electricity Authority - India
- Bukit Baiduri Energy - Indonesia
- Madhucon Powers Ltd - India
- The State Trading Corporation of India Ltd
- Ministry of Finance - Indonesia
- Jindal Steel & Power Ltd - India
- Goldman Sachs - Singapore
- Interocean Group of Companies - India
- Makarim & Taira - Indonesia
- Siam City Cement PLC, Thailand
- International Coal Ventures Pvt Ltd - India
- Latin American Coal - Colombia
- Cigading International Bulk Terminal - Indonesia
- Ministry of Transport, Egypt
- Commonwealth Bank - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- India Bulls Power Limited - India
- CIMB Investment Bank - Malaysia
- Samtan Co., Ltd - South Korea
- VISA Power Limited - India
- Coastal Gujarat Power Limited - India
- Chettinad Cement Corporation Ltd - India
- Parliament of New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- Georgia Ports Authority, United States
- Sojitz Corporation - Japan
- Intertek Mineral Services - Indonesia
- Semirara Mining Corp, Philippines
- SMG Consultants - Indonesia
- Metalloyd Limited - United Kingdom
- Dalmia Cement Bharat India
- Globalindo Alam Lestari - Indonesia
- European Bulk Services B.V. - Netherlands
- Global Business Power Corporation, Philippines
- Star Paper Mills Limited - India
- Sinarmas Energy and Mining - Indonesia
- OPG Power Generation Pvt Ltd - India
- Bangladesh Power Developement Board
- Carbofer General Trading SA - India
- GVK Power & Infra Limited - India
- Binh Thuan Hamico - Vietnam
- PNOC Exploration Corporation - Philippines
- Directorate Of Revenue Intelligence - India
- Directorate General of MIneral and Coal - Indonesia
- Indian Oil Corporation Limited
- Minerals Council of Australia
- Eastern Coal Council - USA
- Trasteel International SA, Italy
- Ind-Barath Power Infra Limited - India
- Bhoruka Overseas - Indonesia
- Meralco Power Generation, Philippines
- Electricity Authority, New Zealand
- Kepco SPC Power Corporation, Philippines
- Coalindo Energy - Indonesia
- Larsen & Toubro Limited - India
- Lanco Infratech Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Sindya Power Generating Company Private Ltd
- Price Waterhouse Coopers - Russia
- Coal and Oil Company - UAE
- Standard Chartered Bank - UAE
- Pendopo Energi Batubara - Indonesia
- Merrill Lynch Commodities Europe
- ICICI Bank Limited - India
- Bayan Resources Tbk. - Indonesia
- Timah Investasi Mineral - Indoneisa
- Banpu Public Company Limited - Thailand
- Neyveli Lignite Corporation Ltd, - India
- Africa Commodities Group - South Africa
- Uttam Galva Steels Limited - India
- Mintek Dendrill Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Wilmar Investment Holdings
- Antam Resourcindo - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Bhushan Steel Limited - India
- Parry Sugars Refinery, India
- Gujarat Mineral Development Corp Ltd - India
- Indian Energy Exchange, India
- Aditya Birla Group - India
- Wood Mackenzie - Singapore
- Savvy Resources Ltd - HongKong
- PowerSource Philippines DevCo
- PetroVietnam Power Coal Import and Supply Company
- Aboitiz Power Corporation - Philippines
- Eastern Energy - Thailand
- Barasentosa Lestari - Indonesia
- CNBM International Corporation - China
- Orica Australia Pty. Ltd.
- Holcim Trading Pte Ltd - Singapore
- GAC Shipping (India) Pvt Ltd
- Renaissance Capital - South Africa
- Chamber of Mines of South Africa
- Maheswari Brothers Coal Limited - India
- Grasim Industreis Ltd - India
- Mercator Lines Limited - India
- MS Steel International - UAE
- Bank of Tokyo Mitsubishi UFJ Ltd
- Tata Chemicals Ltd - India
- TeaM Sual Corporation - Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Agrawal Coal Company - India
- Singapore Mercantile Exchange
- Gujarat Sidhee Cement - India
- Energy Link Ltd, New Zealand
- Sakthi Sugars Limited - India
- Edison Trading Spa - Italy
- Vizag Seaport Private Limited - India
- Sarangani Energy Corporation, Philippines
- Mjunction Services Limited - India
- Simpson Spence & Young - Indonesia
- Ministry of Mines - Canada
- Kapuas Tunggal Persada - Indonesia
- Salva Resources Pvt Ltd - India
- White Energy Company Limited
- Power Finance Corporation Ltd., India
- Indo Tambangraya Megah - Indonesia
- Petron Corporation, Philippines
- Heidelberg Cement - Germany
- LBH Netherlands Bv - Netherlands
- Xindia Steels Limited - India
- PTC India Limited - India
- Rashtriya Ispat Nigam Limited - India
- Bukit Makmur.PT - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bulk Trading Sa - Switzerland
- Borneo Indobara - Indonesia
- Therma Luzon, Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Formosa Plastics Group - Taiwan
- London Commodity Brokers - England
- Ambuja Cements Ltd - India
- SN Aboitiz Power Inc, Philippines
- South Luzon Thermal Energy Corporation
- Riau Bara Harum - Indonesia
- Global Coal Blending Company Limited - Australia
- Kaltim Prima Coal - Indonesia
- Bhatia International Limited - India
- Thiess Contractors Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Indika Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Australian Coal Association
- Baramulti Group, Indonesia
- Essar Steel Hazira Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Jorong Barutama Greston.PT - Indonesia
- Cement Manufacturers Association - India
- The Treasury - Australian Government
- Bharathi Cement Corporation - India
- Tamil Nadu electricity Board
- Australian Commodity Traders Exchange
- Indogreen Group - Indonesia
- IEA Clean Coal Centre - UK
- Deloitte Consulting - India
- Alfred C Toepfer International GmbH - Germany
- Kobexindo Tractors - Indoneisa
- IHS Mccloskey Coal Group - USA
- Miang Besar Coal Terminal - Indonesia
- Altura Mining Limited, Indonesia
- AsiaOL BioFuels Corp., Philippines
- Manunggal Multi Energi - Indonesia
- Anglo American - United Kingdom
- Ceylon Electricity Board - Sri Lanka
- Indonesian Coal Mining Association
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The University of Queensland
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Posco Energy - South Korea
- Central Java Power - Indonesia
- Global Green Power PLC Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Iligan Light & Power Inc, Philippines
- Oldendorff Carriers - Singapore
- Toyota Tsusho Corporation, Japan
- Meenaskhi Energy Private Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Attock Cement Pakistan Limited
- Thai Mozambique Logistica
- Medco Energi Mining Internasional
- Marubeni Corporation - India
- Asmin Koalindo Tuhup - Indonesia
- San Jose City I Power Corp, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Jaiprakash Power Ventures ltd
- Karaikal Port Pvt Ltd - India
- Sical Logistics Limited - India
- New Zealand Coal & Carbon
- McConnell Dowell - Australia
- Romanian Commodities Exchange
- Gujarat Electricity Regulatory Commission - India
- Malabar Cements Ltd - India
- Electricity Generating Authority of Thailand
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