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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, 09 January 14
CAPESIZE: WEST AUSTRALIA FREIGHT IS NOW DOWN IN THE $8S AND STILL DROPPING - FEARNLEYS
Handy
In the Atlantic we see rates sliding slowly for the start of 2014. Several players cvrd over the holidays and the rate decline was som ...
Thursday, 09 January 14
THE SHIPPING MARKET IN 2013 AND LOOKING FORWARD GLOBAL ECONOMY: STEADY AS SHE GOES UPWARDS - BIMCO
Over the past year, developed economies have gained traction while developing and emerging economies have suffered from slower growth. Despite key e ...
Wednesday, 08 January 14
DRY BULK MARKET PROSPECTS LOOKING BRIGHTER DESPITE SLOW START TO THE NEW YEAR - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Despite the fact that the dry bulk market's benchmark, the BDI has been on a fall since the start of 2014, ending yesterday's session down to 1,87 ...
Wednesday, 08 January 14
AUSTRALIAN NEWCASTLE PORT'S WEEKLY COAL EXPORTS FALL
COALspot.com: In the week ended January 6, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensland, totalled 3.27 m ...
Wednesday, 08 January 14
THE DRY BULK MARKET HAS LOST SOME OF ITS STEAM THESE PAST COUPLE OF DAYS: INTERMODAL
Chartering (Wet: Softer- / Dry: Softer- )
The Dry Bulk market has lost some of its steam these past couple of days although hires, espe ...
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- Altura Mining Limited, Indonesia
- Banpu Public Company Limited - Thailand
- Timah Investasi Mineral - Indoneisa
- Lanco Infratech Ltd - India
- PTC India Limited - India
- Commonwealth Bank - Australia
- Kideco Jaya Agung - Indonesia
- Karaikal Port Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Kohat Cement Company Ltd. - Pakistan
- MS Steel International - UAE
- Power Finance Corporation Ltd., India
- Bulk Trading Sa - Switzerland
- Vedanta Resources Plc - India
- Mercator Lines Limited - India
- Bukit Baiduri Energy - Indonesia
- Bhatia International Limited - India
- Edison Trading Spa - Italy
- Aditya Birla Group - India
- Sinarmas Energy and Mining - Indonesia
- Coal and Oil Company - UAE
- Wood Mackenzie - Singapore
- Semirara Mining and Power Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Indogreen Group - Indonesia
- Thiess Contractors Indonesia
- Holcim Trading Pte Ltd - Singapore
- Bukit Makmur.PT - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Karbindo Abesyapradhi - Indoneisa
- Global Coal Blending Company Limited - Australia
- Eastern Energy - Thailand
- SMC Global Power, Philippines
- Romanian Commodities Exchange
- Larsen & Toubro Limited - India
- Carbofer General Trading SA - India
- Baramulti Group, Indonesia
- Trasteel International SA, Italy
- Kalimantan Lumbung Energi - Indonesia
- Minerals Council of Australia
- Global Green Power PLC Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Global Business Power Corporation, Philippines
- Siam City Cement PLC, Thailand
- PowerSource Philippines DevCo
- Straits Asia Resources Limited - Singapore
- Manunggal Multi Energi - Indonesia
- Kobexindo Tractors - Indoneisa
- The State Trading Corporation of India Ltd
- The University of Queensland
- Offshore Bulk Terminal Pte Ltd, Singapore
- Anglo American - United Kingdom
- Xindia Steels Limited - India
- Savvy Resources Ltd - HongKong
- Maharashtra Electricity Regulatory Commission - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bhushan Steel Limited - India
- Ministry of Finance - Indonesia
- Gujarat Electricity Regulatory Commission - India
- ICICI Bank Limited - India
- Renaissance Capital - South Africa
- Billiton Holdings Pty Ltd - Australia
- Orica Mining Services - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- London Commodity Brokers - England
- SMG Consultants - Indonesia
- Petron Corporation, Philippines
- VISA Power Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Energy Link Ltd, New Zealand
- Port Waratah Coal Services - Australia
- White Energy Company Limited
- Pipit Mutiara Jaya. PT, Indonesia
- Interocean Group of Companies - India
- TeaM Sual Corporation - Philippines
- Sakthi Sugars Limited - India
- Alfred C Toepfer International GmbH - Germany
- GMR Energy Limited - India
- Simpson Spence & Young - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Posco Energy - South Korea
- Cement Manufacturers Association - India
- Gujarat Sidhee Cement - India
- Deloitte Consulting - India
- Iligan Light & Power Inc, Philippines
- Price Waterhouse Coopers - Russia
- Georgia Ports Authority, United States
- Indian Energy Exchange, India
- Heidelberg Cement - Germany
- Gujarat Mineral Development Corp Ltd - India
- Formosa Plastics Group - Taiwan
- Latin American Coal - Colombia
- Jaiprakash Power Ventures ltd
- Dalmia Cement Bharat India
- International Coal Ventures Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Kaltim Prima Coal - Indonesia
- CIMB Investment Bank - Malaysia
- Metalloyd Limited - United Kingdom
- Meenaskhi Energy Private Limited - India
- Thai Mozambique Logistica
- Bayan Resources Tbk. - Indonesia
- PNOC Exploration Corporation - Philippines
- Ministry of Transport, Egypt
- Bukit Asam (Persero) Tbk - Indonesia
- South Luzon Thermal Energy Corporation
- Antam Resourcindo - Indonesia
- Sarangani Energy Corporation, Philippines
- Indika Energy - Indonesia
- Barasentosa Lestari - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Ceylon Electricity Board - Sri Lanka
- Semirara Mining Corp, Philippines
- Intertek Mineral Services - Indonesia
- European Bulk Services B.V. - Netherlands
- Bahari Cakrawala Sebuku - Indonesia
- Mintek Dendrill Indonesia
- IEA Clean Coal Centre - UK
- Jindal Steel & Power Ltd - India
- The Treasury - Australian Government
- Planning Commission, India
- Kumho Petrochemical, South Korea
- ASAPP Information Group - India
- Indonesian Coal Mining Association
- Star Paper Mills Limited - India
- Marubeni Corporation - India
- Wilmar Investment Holdings
- Sojitz Corporation - Japan
- Grasim Industreis Ltd - India
- Electricity Generating Authority of Thailand
- Uttam Galva Steels Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Asmin Koalindo Tuhup - Indonesia
- Vizag Seaport Private Limited - India
- Directorate Of Revenue Intelligence - India
- Tata Chemicals Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Mercuria Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Agrawal Coal Company - India
- Kapuas Tunggal Persada - Indonesia
- Siam City Cement - Thailand
- Toyota Tsusho Corporation, Japan
- Electricity Authority, New Zealand
- Malabar Cements Ltd - India
- GAC Shipping (India) Pvt Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Singapore Mercantile Exchange
- GVK Power & Infra Limited - India
- Salva Resources Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Chamber of Mines of South Africa
- India Bulls Power Limited - India
- Tamil Nadu electricity Board
- OPG Power Generation Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Makarim & Taira - Indonesia
- Meralco Power Generation, Philippines
- Videocon Industries ltd - India
- McConnell Dowell - Australia
- Bangladesh Power Developement Board
- Coalindo Energy - Indonesia
- Parliament of New Zealand
- Kartika Selabumi Mining - Indonesia
- Orica Australia Pty. Ltd.
- Sree Jayajothi Cements Limited - India
- IHS Mccloskey Coal Group - USA
- New Zealand Coal & Carbon
- Sindya Power Generating Company Private Ltd
- Leighton Contractors Pty Ltd - Australia
- Madhucon Powers Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ind-Barath Power Infra Limited - India
- Miang Besar Coal Terminal - Indonesia
- Africa Commodities Group - South Africa
- Ministry of Mines - Canada
- Cigading International Bulk Terminal - Indonesia
- Central Java Power - Indonesia
- Indo Tambangraya Megah - Indonesia
- Goldman Sachs - Singapore
- Australian Coal Association
- Central Electricity Authority - India
- Indian Oil Corporation Limited
- AsiaOL BioFuels Corp., Philippines
- Standard Chartered Bank - UAE
- Mjunction Services Limited - India
- Australian Commodity Traders Exchange
- LBH Netherlands Bv - Netherlands
- Rio Tinto Coal - Australia
- Parry Sugars Refinery, India
- Chettinad Cement Corporation Ltd - India
- Sical Logistics Limited - India
- Borneo Indobara - Indonesia
- Aboitiz Power Corporation - Philippines
- Jorong Barutama Greston.PT - Indonesia
- San Jose City I Power Corp, Philippines
- SN Aboitiz Power Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Essar Steel Hazira Ltd - India
- Eastern Coal Council - USA
- Bharathi Cement Corporation - India
- Attock Cement Pakistan Limited
- CNBM International Corporation - China
- Oldendorff Carriers - Singapore
- Merrill Lynch Commodities Europe
- Medco Energi Mining Internasional
- Energy Development Corp, Philippines
- Riau Bara Harum - Indonesia
- Economic Council, Georgia
- Independent Power Producers Association of India
- Krishnapatnam Port Company Ltd. - India
- Ambuja Cements Ltd - India
- Maheswari Brothers Coal Limited - India
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