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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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Wednesday, 08 January 14
SHIPPING: THE ABSOLUTE BOTTOM OF THE CYCLE WAS REACHED AND PASSED - GEORGE LAZARIDIS
COALspot.com: To many in the industry 2013 has been the turning point in the market where the absolute bottom of the cycle was reached and passed.
...
Tuesday, 07 January 14
INDONESIA RAISES COAL PRICE THIS MONTH
COALspot.com - The Ministry of Energy & Mineral Resources of Indonesia has increased government declared coal bench mark price by US$ 1.59 / MT ...
Tuesday, 07 January 14
NEWCASTLE COAL TERMINAL'S COAL EXPORTS SLIDE TO 3.54 MMT W/E 30 DECEMBER 13
COALspot.com: In the week ended December 30, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensland, totalled 3.54 ...
Tuesday, 07 January 14
US COAL OUTPUT SLIDES 9 PCT WEEK ON WEEK, EIA SAYS
COALspot.com – United States the world’s second largest coal producer, produced approximately 17.8 million short tons (mmst) of coal in ...
Monday, 06 January 14
ARGUS LAUNCHES SPOT CFR EAST COAST INDIA COAL ASSESSMENTS
COALspot.com: Global energy and commodity news and price reporting agency Argus has announced today that, the company has launched CFR coal assessme ...
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- Tata Chemicals Ltd - India
- Parry Sugars Refinery, India
- Renaissance Capital - South Africa
- Bangladesh Power Developement Board
- Mercuria Energy - Indonesia
- Goldman Sachs - Singapore
- Chamber of Mines of South Africa
- Dalmia Cement Bharat India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Wilmar Investment Holdings
- Sindya Power Generating Company Private Ltd
- Ambuja Cements Ltd - India
- Global Coal Blending Company Limited - Australia
- Oldendorff Carriers - Singapore
- Port Waratah Coal Services - Australia
- Kideco Jaya Agung - Indonesia
- Directorate Of Revenue Intelligence - India
- Carbofer General Trading SA - India
- Madhucon Powers Ltd - India
- VISA Power Limited - India
- Edison Trading Spa - Italy
- Baramulti Group, Indonesia
- White Energy Company Limited
- Meralco Power Generation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Sical Logistics Limited - India
- AsiaOL BioFuels Corp., Philippines
- Savvy Resources Ltd - HongKong
- Kalimantan Lumbung Energi - Indonesia
- Bhoruka Overseas - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Jorong Barutama Greston.PT - Indonesia
- Eastern Energy - Thailand
- Videocon Industries ltd - India
- PNOC Exploration Corporation - Philippines
- Africa Commodities Group - South Africa
- ASAPP Information Group - India
- South Luzon Thermal Energy Corporation
- Central Electricity Authority - India
- Timah Investasi Mineral - Indoneisa
- Siam City Cement PLC, Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Vedanta Resources Plc - India
- Bukit Baiduri Energy - Indonesia
- Mjunction Services Limited - India
- Borneo Indobara - Indonesia
- SN Aboitiz Power Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Australian Commodity Traders Exchange
- Anglo American - United Kingdom
- Bank of Tokyo Mitsubishi UFJ Ltd
- GVK Power & Infra Limited - India
- Straits Asia Resources Limited - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Orica Mining Services - Indonesia
- Electricity Authority, New Zealand
- ICICI Bank Limited - India
- Georgia Ports Authority, United States
- Merrill Lynch Commodities Europe
- Aditya Birla Group - India
- Siam City Cement - Thailand
- Xindia Steels Limited - India
- Jindal Steel & Power Ltd - India
- Bhushan Steel Limited - India
- Riau Bara Harum - Indonesia
- Independent Power Producers Association of India
- Uttam Galva Steels Limited - India
- Globalindo Alam Lestari - Indonesia
- PowerSource Philippines DevCo
- Indo Tambangraya Megah - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Economic Council, Georgia
- Sarangani Energy Corporation, Philippines
- Star Paper Mills Limited - India
- TeaM Sual Corporation - Philippines
- Larsen & Toubro Limited - India
- Indian Energy Exchange, India
- Kumho Petrochemical, South Korea
- Indonesian Coal Mining Association
- Ind-Barath Power Infra Limited - India
- Meenaskhi Energy Private Limited - India
- Antam Resourcindo - Indonesia
- GAC Shipping (India) Pvt Ltd
- Semirara Mining and Power Corporation, Philippines
- The University of Queensland
- Lanco Infratech Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Directorate General of MIneral and Coal - Indonesia
- Karaikal Port Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Intertek Mineral Services - Indonesia
- MS Steel International - UAE
- Singapore Mercantile Exchange
- Bhatia International Limited - India
- The Treasury - Australian Government
- Petrochimia International Co. Ltd.- Taiwan
- Krishnapatnam Port Company Ltd. - India
- Binh Thuan Hamico - Vietnam
- Bahari Cakrawala Sebuku - Indonesia
- Energy Link Ltd, New Zealand
- Salva Resources Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- New Zealand Coal & Carbon
- Maharashtra Electricity Regulatory Commission - India
- Essar Steel Hazira Ltd - India
- Standard Chartered Bank - UAE
- Miang Besar Coal Terminal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Parliament of New Zealand
- Kohat Cement Company Ltd. - Pakistan
- Grasim Industreis Ltd - India
- Deloitte Consulting - India
- Therma Luzon, Inc, Philippines
- Altura Mining Limited, Indonesia
- Cigading International Bulk Terminal - Indonesia
- Petron Corporation, Philippines
- Thai Mozambique Logistica
- Commonwealth Bank - Australia
- Australian Coal Association
- The State Trading Corporation of India Ltd
- Central Java Power - Indonesia
- Kobexindo Tractors - Indoneisa
- Gujarat Mineral Development Corp Ltd - India
- OPG Power Generation Pvt Ltd - India
- Attock Cement Pakistan Limited
- Formosa Plastics Group - Taiwan
- Simpson Spence & Young - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Planning Commission, India
- Banpu Public Company Limited - Thailand
- Rashtriya Ispat Nigam Limited - India
- GMR Energy Limited - India
- Energy Development Corp, Philippines
- Sakthi Sugars Limited - India
- Heidelberg Cement - Germany
- LBH Netherlands Bv - Netherlands
- Coal and Oil Company - UAE
- Jaiprakash Power Ventures ltd
- Ministry of Finance - Indonesia
- Romanian Commodities Exchange
- CIMB Investment Bank - Malaysia
- Chettinad Cement Corporation Ltd - India
- Rio Tinto Coal - Australia
- India Bulls Power Limited - India
- European Bulk Services B.V. - Netherlands
- Kaltim Prima Coal - Indonesia
- Makarim & Taira - Indonesia
- Bayan Resources Tbk. - Indonesia
- Bharathi Cement Corporation - India
- PTC India Limited - India
- SMG Consultants - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Barasentosa Lestari - Indonesia
- London Commodity Brokers - England
- Sojitz Corporation - Japan
- Cement Manufacturers Association - India
- Bukit Asam (Persero) Tbk - Indonesia
- Latin American Coal - Colombia
- IHS Mccloskey Coal Group - USA
- GN Power Mariveles Coal Plant, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Samtan Co., Ltd - South Korea
- Neyveli Lignite Corporation Ltd, - India
- Price Waterhouse Coopers - Russia
- Indika Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Mintek Dendrill Indonesia
- CNBM International Corporation - China
- Thiess Contractors Indonesia
- Sree Jayajothi Cements Limited - India
- Trasteel International SA, Italy
- Marubeni Corporation - India
- Power Finance Corporation Ltd., India
- Kartika Selabumi Mining - Indonesia
- Global Business Power Corporation, Philippines
- Semirara Mining Corp, Philippines
- Karbindo Abesyapradhi - Indoneisa
- San Jose City I Power Corp, Philippines
- Coalindo Energy - Indonesia
- McConnell Dowell - Australia
- Indian Oil Corporation Limited
- Coastal Gujarat Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- Toyota Tsusho Corporation, Japan
- Maheswari Brothers Coal Limited - India
- Aboitiz Power Corporation - Philippines
- Medco Energi Mining Internasional
- Gujarat Electricity Regulatory Commission - India
- Ministry of Mines - Canada
- Orica Australia Pty. Ltd.
- Minerals Council of Australia
- Eastern Coal Council - USA
- Pendopo Energi Batubara - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Manunggal Multi Energi - Indonesia
- Wood Mackenzie - Singapore
- Vizag Seaport Private Limited - India
- Electricity Generating Authority of Thailand
- Ministry of Transport, Egypt
- Agrawal Coal Company - India
- Metalloyd Limited - United Kingdom
- Tamil Nadu electricity Board
- Mercator Lines Limited - India
- Malabar Cements Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kepco SPC Power Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Indogreen Group - Indonesia
- IEA Clean Coal Centre - UK
- Posco Energy - South Korea
- Iligan Light & Power Inc, Philippines
- SMC Global Power, Philippines
- Interocean Group of Companies - India
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