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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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Friday, 17 January 14
DRY BULK MARKET ENDS DECLINE, BOUNCES BACK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
It's been a rough start to the New Year for the dry bulk market, which was supposed to be on the verge of rallying to new heights this year, on the ...
Friday, 17 January 14
SPOT COAL PRICE TRENDS IN US VARY ACROSS KEY BASINS DURING 2013, SAYS EIA
COALspot.com: Spot steam coal price trends in US varied across key basins in 2013, a latest EIA report says. Compared with 2012, while total coal de ...
Thursday, 16 January 14
PANAMAX : THE GAP BETWEEN SPOT AND PERIOD HAS INCREASED IN BOTH HEMISPHERES - FEARNRESEARCH
Handy
In the Atlantic we have seen rates slowly sliding on lack of enough fresh business. USG/Continent still paying excess 28k and seems on an upw ...
Thursday, 16 January 14
SHIP OWNERS SCRAP 1,119 SHIPS DURING 2013 ON THE BACK OF OVERSUPPLY ISSUES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Scrapping of older vessels is still the best bet that ship owners can make, in order to improve their newer vessels' fortunes, amid an oversupply o ...
Wednesday, 15 January 14
KOREA MIDLAND POWER CO INVITES BIDS FOR 360K MT OF SUB-BITUMINOUS COAL FOR ITS BORYEONG PLANT
COALspot.com : Korea Midland Power Co., Ltd. has invited bids through International open bidding for 360,000 Metric Tons (MT) of sub-bituminous ...
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- Ministry of Mines - Canada
- Globalindo Alam Lestari - Indonesia
- Madhucon Powers Ltd - India
- Mjunction Services Limited - India
- Kepco SPC Power Corporation, Philippines
- VISA Power Limited - India
- Australian Coal Association
- Carbofer General Trading SA - India
- Kaltim Prima Coal - Indonesia
- India Bulls Power Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Indogreen Group - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- MS Steel International - UAE
- Ambuja Cements Ltd - India
- Banpu Public Company Limited - Thailand
- San Jose City I Power Corp, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Uttam Galva Steels Limited - India
- Heidelberg Cement - Germany
- Power Finance Corporation Ltd., India
- Timah Investasi Mineral - Indoneisa
- Semirara Mining and Power Corporation, Philippines
- Posco Energy - South Korea
- Renaissance Capital - South Africa
- Eastern Coal Council - USA
- Parry Sugars Refinery, India
- Medco Energi Mining Internasional
- Indian Oil Corporation Limited
- Straits Asia Resources Limited - Singapore
- Borneo Indobara - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PNOC Exploration Corporation - Philippines
- Electricity Authority, New Zealand
- Grasim Industreis Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Marubeni Corporation - India
- Central Java Power - Indonesia
- Karaikal Port Pvt Ltd - India
- Malabar Cements Ltd - India
- Riau Bara Harum - Indonesia
- TeaM Sual Corporation - Philippines
- SMG Consultants - Indonesia
- Singapore Mercantile Exchange
- Vedanta Resources Plc - India
- Latin American Coal - Colombia
- Independent Power Producers Association of India
- New Zealand Coal & Carbon
- Parliament of New Zealand
- Kohat Cement Company Ltd. - Pakistan
- IEA Clean Coal Centre - UK
- Global Green Power PLC Corporation, Philippines
- Orica Australia Pty. Ltd.
- Star Paper Mills Limited - India
- Oldendorff Carriers - Singapore
- SN Aboitiz Power Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Lanco Infratech Ltd - India
- Vizag Seaport Private Limited - India
- Binh Thuan Hamico - Vietnam
- Gujarat Sidhee Cement - India
- Agrawal Coal Company - India
- Wood Mackenzie - Singapore
- LBH Netherlands Bv - Netherlands
- Georgia Ports Authority, United States
- IHS Mccloskey Coal Group - USA
- PowerSource Philippines DevCo
- London Commodity Brokers - England
- Indika Energy - Indonesia
- Baramulti Group, Indonesia
- Siam City Cement - Thailand
- Indian Energy Exchange, India
- Barasentosa Lestari - Indonesia
- Mintek Dendrill Indonesia
- Samtan Co., Ltd - South Korea
- Bukit Baiduri Energy - Indonesia
- Goldman Sachs - Singapore
- Sinarmas Energy and Mining - Indonesia
- Bukit Makmur.PT - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Maheswari Brothers Coal Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Aditya Birla Group - India
- GVK Power & Infra Limited - India
- Siam City Cement PLC, Thailand
- Orica Mining Services - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Maharashtra Electricity Regulatory Commission - India
- Altura Mining Limited, Indonesia
- The Treasury - Australian Government
- Metalloyd Limited - United Kingdom
- Wilmar Investment Holdings
- AsiaOL BioFuels Corp., Philippines
- Makarim & Taira - Indonesia
- Meenaskhi Energy Private Limited - India
- Savvy Resources Ltd - HongKong
- Commonwealth Bank - Australia
- Dalmia Cement Bharat India
- Anglo American - United Kingdom
- Global Coal Blending Company Limited - Australia
- Interocean Group of Companies - India
- Sojitz Corporation - Japan
- Africa Commodities Group - South Africa
- Bayan Resources Tbk. - Indonesia
- Sarangani Energy Corporation, Philippines
- Indonesian Coal Mining Association
- Sical Logistics Limited - India
- Sakthi Sugars Limited - India
- Cement Manufacturers Association - India
- European Bulk Services B.V. - Netherlands
- Sree Jayajothi Cements Limited - India
- Energy Link Ltd, New Zealand
- Simpson Spence & Young - Indonesia
- ICICI Bank Limited - India
- Global Business Power Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Kumho Petrochemical, South Korea
- Manunggal Multi Energi - Indonesia
- Economic Council, Georgia
- PTC India Limited - India
- Toyota Tsusho Corporation, Japan
- CNBM International Corporation - China
- Kartika Selabumi Mining - Indonesia
- Bangladesh Power Developement Board
- Ind-Barath Power Infra Limited - India
- Eastern Energy - Thailand
- Alfred C Toepfer International GmbH - Germany
- Chamber of Mines of South Africa
- Attock Cement Pakistan Limited
- OPG Power Generation Pvt Ltd - India
- Central Electricity Authority - India
- Coastal Gujarat Power Limited - India
- Bhatia International Limited - India
- Kideco Jaya Agung - Indonesia
- Port Waratah Coal Services - Australia
- Xindia Steels Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- SMC Global Power, Philippines
- Meralco Power Generation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Mercator Lines Limited - India
- Kapuas Tunggal Persada - Indonesia
- Jaiprakash Power Ventures ltd
- Edison Trading Spa - Italy
- Iligan Light & Power Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- Price Waterhouse Coopers - Russia
- CIMB Investment Bank - Malaysia
- The State Trading Corporation of India Ltd
- Intertek Mineral Services - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Bhoruka Overseas - Indonesia
- Semirara Mining Corp, Philippines
- Planning Commission, India
- GN Power Mariveles Coal Plant, Philippines
- Thai Mozambique Logistica
- Standard Chartered Bank - UAE
- Antam Resourcindo - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Aboitiz Power Corporation - Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Bhushan Steel Limited - India
- Merrill Lynch Commodities Europe
- ASAPP Information Group - India
- Energy Development Corp, Philippines
- Rio Tinto Coal - Australia
- Indo Tambangraya Megah - Indonesia
- McConnell Dowell - Australia
- Gujarat Electricity Regulatory Commission - India
- Bharathi Cement Corporation - India
- South Luzon Thermal Energy Corporation
- Kobexindo Tractors - Indoneisa
- Sindya Power Generating Company Private Ltd
- Minerals Council of Australia
- Ceylon Electricity Board - Sri Lanka
- Deloitte Consulting - India
- Bulk Trading Sa - Switzerland
- Offshore Bulk Terminal Pte Ltd, Singapore
- Tamil Nadu electricity Board
- Pipit Mutiara Jaya. PT, Indonesia
- Formosa Plastics Group - Taiwan
- Tata Chemicals Ltd - India
- Larsen & Toubro Limited - India
- Thiess Contractors Indonesia
- Rashtriya Ispat Nigam Limited - India
- Therma Luzon, Inc, Philippines
- Essar Steel Hazira Ltd - India
- International Coal Ventures Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Coal and Oil Company - UAE
- Romanian Commodities Exchange
- Petron Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Electricity Generating Authority of Thailand
- Trasteel International SA, Italy
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coalindo Energy - Indonesia
- Ministry of Finance - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Jindal Steel & Power Ltd - India
- Videocon Industries ltd - India
- Mercuria Energy - Indonesia
- White Energy Company Limited
- Salva Resources Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Australian Commodity Traders Exchange
- GMR Energy Limited - India
- GAC Shipping (India) Pvt Ltd
- Ministry of Transport, Egypt
- The University of Queensland
- Bahari Cakrawala Sebuku - Indonesia
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