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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, 06 January 14
INDONESIAN COAL SWAPS SLIDE TO $ 61.25 FOR Q4' 14 DELIVERY
COALspot.com – Sub-Bit Indonesia coal swap (FOB) for average Q1’ 14 delivery lost $ 0.32 pmt month on month on Friday 3 January 2014. Th ...
Sunday, 05 January 14
API 8 CFR SOUTH CHINA COAL SWAP FOR Q3 DELIVERY CLOSED $ 80.05, A $ 0.90 LOWER THAN Q1 PRICE
COALspot.com : API 8 CFR South China Coal swaps for average Q1’ 14 delivery lost 1.40 percept day on day closed at US$ 80.95 per mt as o ...
Sunday, 05 January 14
CENTRAL BUREAU OF INVESTIGATION OF INDIA REGISTERS CASES IN CONNECTION WITH ALLEGED SUPPLY OF LOW QUALITY INDONESIAN COAL BY A PRIVATE COMPANY TO NTPC & NSPCL
COALspot.com: The Central Bureau of Investigation of India has registered two cases regarding alleged supply of low quality imported Indonesian coal ...
Saturday, 04 January 14
THE INDONESIAN GOVERNMENT TO DOWNSIZE ITS COAL PRODUCTION TARGET TO 400 MMT THIS YEAR
COALspot.com: Indonesia to downsize its coal production target to 400 million tons in 2014, lower than the production in 2013, which stood at 421 mi ...
Friday, 03 January 14
IN 2013 RBCT HAS, FOR THE FIRST TIME, EXPORTED MORE THAN 70 MILLION TONS OF COAL
COALspot.com: South Africa's Richards Bay coal terminal, the world’s largest single coal exporting terminal shipped 6.788 million tonnes of c ...
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- Ind-Barath Power Infra Limited - India
- Commonwealth Bank - Australia
- IHS Mccloskey Coal Group - USA
- Alfred C Toepfer International GmbH - Germany
- Bukit Makmur.PT - Indonesia
- Goldman Sachs - Singapore
- Kartika Selabumi Mining - Indonesia
- Uttam Galva Steels Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Barasentosa Lestari - Indonesia
- Latin American Coal - Colombia
- Rio Tinto Coal - Australia
- Eastern Coal Council - USA
- CNBM International Corporation - China
- Edison Trading Spa - Italy
- South Luzon Thermal Energy Corporation
- Price Waterhouse Coopers - Russia
- Interocean Group of Companies - India
- Krishnapatnam Port Company Ltd. - India
- Meenaskhi Energy Private Limited - India
- Malabar Cements Ltd - India
- Bhatia International Limited - India
- Mercator Lines Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Agrawal Coal Company - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Semirara Mining Corp, Philippines
- Global Coal Blending Company Limited - Australia
- Directorate General of MIneral and Coal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Grasim Industreis Ltd - India
- Bangladesh Power Developement Board
- Cement Manufacturers Association - India
- Formosa Plastics Group - Taiwan
- Ministry of Transport, Egypt
- Siam City Cement PLC, Thailand
- Globalindo Alam Lestari - Indonesia
- Star Paper Mills Limited - India
- The Treasury - Australian Government
- SN Aboitiz Power Inc, Philippines
- Bhushan Steel Limited - India
- Gujarat Electricity Regulatory Commission - India
- Therma Luzon, Inc, Philippines
- Sakthi Sugars Limited - India
- Maharashtra Electricity Regulatory Commission - India
- McConnell Dowell - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Intertek Mineral Services - Indonesia
- Australian Coal Association
- Baramulti Group, Indonesia
- Indian Energy Exchange, India
- Aboitiz Power Corporation - Philippines
- Mjunction Services Limited - India
- Aditya Birla Group - India
- Eastern Energy - Thailand
- Marubeni Corporation - India
- Kapuas Tunggal Persada - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- PNOC Exploration Corporation - Philippines
- Attock Cement Pakistan Limited
- Jaiprakash Power Ventures ltd
- The State Trading Corporation of India Ltd
- Sindya Power Generating Company Private Ltd
- Deloitte Consulting - India
- Vijayanagar Sugar Pvt Ltd - India
- Posco Energy - South Korea
- Kobexindo Tractors - Indoneisa
- New Zealand Coal & Carbon
- Petrochimia International Co. Ltd.- Taiwan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GMR Energy Limited - India
- Xindia Steels Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Straits Asia Resources Limited - Singapore
- Georgia Ports Authority, United States
- Bharathi Cement Corporation - India
- Billiton Holdings Pty Ltd - Australia
- Planning Commission, India
- Kohat Cement Company Ltd. - Pakistan
- Sojitz Corporation - Japan
- Dalmia Cement Bharat India
- Lanco Infratech Ltd - India
- ICICI Bank Limited - India
- Sree Jayajothi Cements Limited - India
- Jindal Steel & Power Ltd - India
- Power Finance Corporation Ltd., India
- CIMB Investment Bank - Malaysia
- IEA Clean Coal Centre - UK
- Vedanta Resources Plc - India
- Binh Thuan Hamico - Vietnam
- Altura Mining Limited, Indonesia
- Wood Mackenzie - Singapore
- Larsen & Toubro Limited - India
- Energy Link Ltd, New Zealand
- Banpu Public Company Limited - Thailand
- GVK Power & Infra Limited - India
- Holcim Trading Pte Ltd - Singapore
- Indogreen Group - Indonesia
- European Bulk Services B.V. - Netherlands
- AsiaOL BioFuels Corp., Philippines
- Sarangani Energy Corporation, Philippines
- Parliament of New Zealand
- Ministry of Mines - Canada
- Coal and Oil Company - UAE
- Gujarat Sidhee Cement - India
- Coalindo Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Central Java Power - Indonesia
- Global Business Power Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Borneo Indobara - Indonesia
- Global Green Power PLC Corporation, Philippines
- White Energy Company Limited
- Coastal Gujarat Power Limited - India
- Cigading International Bulk Terminal - Indonesia
- Indonesian Coal Mining Association
- Trasteel International SA, Italy
- Leighton Contractors Pty Ltd - Australia
- Electricity Generating Authority of Thailand
- GN Power Mariveles Coal Plant, Philippines
- Heidelberg Cement - Germany
- Australian Commodity Traders Exchange
- Gujarat Mineral Development Corp Ltd - India
- PTC India Limited - India
- Electricity Authority, New Zealand
- Port Waratah Coal Services - Australia
- Simpson Spence & Young - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- The University of Queensland
- Renaissance Capital - South Africa
- Kumho Petrochemical, South Korea
- SMC Global Power, Philippines
- Orica Australia Pty. Ltd.
- Pendopo Energi Batubara - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Medco Energi Mining Internasional
- Minerals Council of Australia
- SMG Consultants - Indonesia
- Carbofer General Trading SA - India
- Essar Steel Hazira Ltd - India
- Timah Investasi Mineral - Indoneisa
- OPG Power Generation Pvt Ltd - India
- Petron Corporation, Philippines
- Mercuria Energy - Indonesia
- Ambuja Cements Ltd - India
- Karaikal Port Pvt Ltd - India
- Meralco Power Generation, Philippines
- PowerSource Philippines DevCo
- Thiess Contractors Indonesia
- Manunggal Multi Energi - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Central Electricity Authority - India
- Independent Power Producers Association of India
- Tamil Nadu electricity Board
- Orica Mining Services - Indonesia
- Romanian Commodities Exchange
- Sinarmas Energy and Mining - Indonesia
- Indian Oil Corporation Limited
- Bulk Trading Sa - Switzerland
- Siam City Cement - Thailand
- Ceylon Electricity Board - Sri Lanka
- Economic Council, Georgia
- Pipit Mutiara Jaya. PT, Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Sical Logistics Limited - India
- Ministry of Finance - Indonesia
- Chettinad Cement Corporation Ltd - India
- Mintek Dendrill Indonesia
- Vizag Seaport Private Limited - India
- Madhucon Powers Ltd - India
- Anglo American - United Kingdom
- Kideco Jaya Agung - Indonesia
- Indo Tambangraya Megah - Indonesia
- Videocon Industries ltd - India
- Savvy Resources Ltd - HongKong
- Iligan Light & Power Inc, Philippines
- Thai Mozambique Logistica
- Samtan Co., Ltd - South Korea
- Directorate Of Revenue Intelligence - India
- ASAPP Information Group - India
- Makarim & Taira - Indonesia
- VISA Power Limited - India
- Energy Development Corp, Philippines
- Standard Chartered Bank - UAE
- Kaltim Prima Coal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Bayan Resources Tbk. - Indonesia
- Metalloyd Limited - United Kingdom
- International Coal Ventures Pvt Ltd - India
- Tata Chemicals Ltd - India
- London Commodity Brokers - England
- TeaM Sual Corporation - Philippines
- Oldendorff Carriers - Singapore
- Indika Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- San Jose City I Power Corp, Philippines
- Singapore Mercantile Exchange
- Toyota Tsusho Corporation, Japan
- Miang Besar Coal Terminal - Indonesia
- Chamber of Mines of South Africa
- Parry Sugars Refinery, India
- Rashtriya Ispat Nigam Limited - India
- Salva Resources Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- GAC Shipping (India) Pvt Ltd
- Africa Commodities Group - South Africa
- Riau Bara Harum - Indonesia
- Antam Resourcindo - Indonesia
- Merrill Lynch Commodities Europe
- Kalimantan Lumbung Energi - Indonesia
- MS Steel International - UAE
- Bukit Baiduri Energy - Indonesia
- Wilmar Investment Holdings
- India Bulls Power Limited - India
- Maheswari Brothers Coal Limited - India
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