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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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Monday, 13 January 14
INDONESIAN ORE BAN TO HAVE LIMITED IMPACT ON CHINESE ALUMINIUM PRODUCERS, FITCH RATINGS SAYS
COALspot.com: Fitch Ratings says today that Indonesia's ban on exports of unprocessed mineral ore will have limited impact on Chinese aluminium pro ...
Sunday, 12 January 14
THE FREIGHT MARKET CONTINUE TO REMAIN WEAK NEXT WEEK - SOLYM CARRIERS
Wish You A very Happy New Year
COALspot.com: The market has dropped quite a lot as expected due to holidays and probably also the effect of ban o ...
Friday, 10 January 14
DECISION ON ORE EXPORT BAN WILL BE MADE TOMORROW: INDUSTRY MINISTER, JG SAYS
Industry Minister M.S. Hidayat dismissed reports on Thursday that the government had made a decision on the matter. “We will only make a decis ...
Friday, 10 January 14
US COAL PRODUCTION UP 5.8% ON WEEK IN WEEK ENDED SATURDAY 4 JANUARY
COALspot.com – United States the world’s second largest coal producer, produced approximately 18.8 million short tons (mmst) of coal in ...
Thursday, 09 January 14
THE INDONESIAN GOVERNMENT EASES ORE EXPORT BAN
COALspot.com: The Indonesian government has finally agreed to ease the ore-export ban just a few days before the Sunday deadline amid protests from ...
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- South Luzon Thermal Energy Corporation
- Marubeni Corporation - India
- Karbindo Abesyapradhi - Indoneisa
- Commonwealth Bank - Australia
- Iligan Light & Power Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Meralco Power Generation, Philippines
- PTC India Limited - India
- Kepco SPC Power Corporation, Philippines
- Petron Corporation, Philippines
- Cement Manufacturers Association - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sojitz Corporation - Japan
- Sinarmas Energy and Mining - Indonesia
- Ministry of Transport, Egypt
- Savvy Resources Ltd - HongKong
- Alfred C Toepfer International GmbH - Germany
- Indika Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Central Electricity Authority - India
- Lanco Infratech Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Heidelberg Cement - Germany
- The State Trading Corporation of India Ltd
- Price Waterhouse Coopers - Russia
- Uttam Galva Steels Limited - India
- Jaiprakash Power Ventures ltd
- The University of Queensland
- Indian Energy Exchange, India
- Miang Besar Coal Terminal - Indonesia
- Semirara Mining Corp, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- McConnell Dowell - Australia
- Riau Bara Harum - Indonesia
- Bhoruka Overseas - Indonesia
- European Bulk Services B.V. - Netherlands
- Aditya Birla Group - India
- Tata Chemicals Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Anglo American - United Kingdom
- Posco Energy - South Korea
- Holcim Trading Pte Ltd - Singapore
- Star Paper Mills Limited - India
- Meenaskhi Energy Private Limited - India
- Metalloyd Limited - United Kingdom
- ASAPP Information Group - India
- Banpu Public Company Limited - Thailand
- Indo Tambangraya Megah - Indonesia
- IHS Mccloskey Coal Group - USA
- Edison Trading Spa - Italy
- Bayan Resources Tbk. - Indonesia
- Borneo Indobara - Indonesia
- The Treasury - Australian Government
- San Jose City I Power Corp, Philippines
- Interocean Group of Companies - India
- Minerals Council of Australia
- Dalmia Cement Bharat India
- Krishnapatnam Port Company Ltd. - India
- ICICI Bank Limited - India
- Ind-Barath Power Infra Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Independent Power Producers Association of India
- New Zealand Coal & Carbon
- TNB Fuel Sdn Bhd - Malaysia
- Planning Commission, India
- Bukit Baiduri Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Energy Link Ltd, New Zealand
- Pipit Mutiara Jaya. PT, Indonesia
- Videocon Industries ltd - India
- CNBM International Corporation - China
- Globalindo Alam Lestari - Indonesia
- PowerSource Philippines DevCo
- Madhucon Powers Ltd - India
- Indogreen Group - Indonesia
- Goldman Sachs - Singapore
- Ceylon Electricity Board - Sri Lanka
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Power Finance Corporation Ltd., India
- PNOC Exploration Corporation - Philippines
- Trasteel International SA, Italy
- Renaissance Capital - South Africa
- Merrill Lynch Commodities Europe
- Mjunction Services Limited - India
- International Coal Ventures Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Essar Steel Hazira Ltd - India
- Kobexindo Tractors - Indoneisa
- Toyota Tsusho Corporation, Japan
- Oldendorff Carriers - Singapore
- Coalindo Energy - Indonesia
- Grasim Industreis Ltd - India
- Therma Luzon, Inc, Philippines
- Eastern Coal Council - USA
- Kapuas Tunggal Persada - Indonesia
- GMR Energy Limited - India
- Semirara Mining and Power Corporation, Philippines
- Sakthi Sugars Limited - India
- Simpson Spence & Young - Indonesia
- IEA Clean Coal Centre - UK
- Orica Mining Services - Indonesia
- Electricity Generating Authority of Thailand
- Indian Oil Corporation Limited
- Wood Mackenzie - Singapore
- Makarim & Taira - Indonesia
- Kartika Selabumi Mining - Indonesia
- SMG Consultants - Indonesia
- Chamber of Mines of South Africa
- Kideco Jaya Agung - Indonesia
- Eastern Energy - Thailand
- Directorate Of Revenue Intelligence - India
- Rashtriya Ispat Nigam Limited - India
- Global Business Power Corporation, Philippines
- Siam City Cement PLC, Thailand
- Bulk Trading Sa - Switzerland
- VISA Power Limited - India
- Economic Council, Georgia
- Kohat Cement Company Ltd. - Pakistan
- Thiess Contractors Indonesia
- GVK Power & Infra Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Manunggal Multi Energi - Indonesia
- Singapore Mercantile Exchange
- Mintek Dendrill Indonesia
- LBH Netherlands Bv - Netherlands
- Larsen & Toubro Limited - India
- White Energy Company Limited
- Mercuria Energy - Indonesia
- Wilmar Investment Holdings
- Tamil Nadu electricity Board
- SMC Global Power, Philippines
- Romanian Commodities Exchange
- Sical Logistics Limited - India
- Pendopo Energi Batubara - Indonesia
- OPG Power Generation Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GN Power Mariveles Coal Plant, Philippines
- Vizag Seaport Private Limited - India
- Electricity Authority, New Zealand
- Bhatia International Limited - India
- Formosa Plastics Group - Taiwan
- Rio Tinto Coal - Australia
- Ministry of Finance - Indonesia
- Indonesian Coal Mining Association
- Directorate General of MIneral and Coal - Indonesia
- Jindal Steel & Power Ltd - India
- Chettinad Cement Corporation Ltd - India
- Coastal Gujarat Power Limited - India
- Carbofer General Trading SA - India
- Energy Development Corp, Philippines
- TeaM Sual Corporation - Philippines
- Attock Cement Pakistan Limited
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bahari Cakrawala Sebuku - Indonesia
- Africa Commodities Group - South Africa
- Australian Coal Association
- Gujarat Sidhee Cement - India
- Bharathi Cement Corporation - India
- Latin American Coal - Colombia
- Ambuja Cements Ltd - India
- Aboitiz Power Corporation - Philippines
- Global Green Power PLC Corporation, Philippines
- Baramulti Group, Indonesia
- Sarangani Energy Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Vedanta Resources Plc - India
- India Bulls Power Limited - India
- Australian Commodity Traders Exchange
- Antam Resourcindo - Indonesia
- Bangladesh Power Developement Board
- Georgia Ports Authority, United States
- Cigading International Bulk Terminal - Indonesia
- Altura Mining Limited, Indonesia
- Coal and Oil Company - UAE
- Maheswari Brothers Coal Limited - India
- Binh Thuan Hamico - Vietnam
- London Commodity Brokers - England
- Parliament of New Zealand
- Vijayanagar Sugar Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Bhushan Steel Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Mercator Lines Limited - India
- Siam City Cement - Thailand
- Karaikal Port Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Orica Australia Pty. Ltd.
- Samtan Co., Ltd - South Korea
- Central Java Power - Indonesia
- Standard Chartered Bank - UAE
- Bukit Makmur.PT - Indonesia
- Sree Jayajothi Cements Limited - India
- MS Steel International - UAE
- Petrochimia International Co. Ltd.- Taiwan
- Medco Energi Mining Internasional
- Billiton Holdings Pty Ltd - Australia
- GAC Shipping (India) Pvt Ltd
- Jorong Barutama Greston.PT - Indonesia
- Sindya Power Generating Company Private Ltd
- Malabar Cements Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Agrawal Coal Company - India
- Thai Mozambique Logistica
- Global Coal Blending Company Limited - Australia
- Xindia Steels Limited - India
- Barasentosa Lestari - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ministry of Mines - Canada
- Gujarat Mineral Development Corp Ltd - India
- Deloitte Consulting - India
- Parry Sugars Refinery, India
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