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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, 01 January 14
COAL & OIL TO SET UP ANOTHER 1,600 MW POWER PLANT IN INDIA - VENKATARAMANI
COALspot.com: Dubai-based Coal & Oil (C&O) Group is planning to make additional investment of around US$ 1.61 billion to set up 1,600 mega w ...
Wednesday, 01 January 14
DRY BULK CARRIER OWNERS ANTICIPATING AN EVEN STRONGER 2014 YEAR - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
To begin with, The Hellenic Shipping News Worldwide team would like to wish you all a Happy and Prosperous 2014! We begin the New Year with our firs ...
Tuesday, 31 December 13
INDONESIA'S COAL PRODUCTION COULD HIT 450 MMT IN 2014 - ICMA
COALspot.com: Indonesia, the fourth largest coal producer and largest coal exporter in the world, to increase coal output in year 2014 instead of th ...
Tuesday, 31 December 13
U.S. COAL PRODUCTION INCREASED WEEK ON WEEK, EIA SAYS
COALspot.com – United States the world’s second largest coal producer, produced approximately 19.5 million short tons (mmst) of coal in ...
Tuesday, 31 December 13
MORE THAN $21 BILLION INVESTED IN SECOND HAND SHIP PURCHASES IN 2013
One thing that was apparent in the sale and purchasing markets during 2013 was the ship owners' larger appetite for vessel acquisitions, as most so ...
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- Chettinad Cement Corporation Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Orica Australia Pty. Ltd.
- McConnell Dowell - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Medco Energi Mining Internasional
- Minerals Council of Australia
- Manunggal Multi Energi - Indonesia
- Simpson Spence & Young - Indonesia
- Ministry of Mines - Canada
- Indonesian Coal Mining Association
- Australian Coal Association
- Trasteel International SA, Italy
- Videocon Industries ltd - India
- Romanian Commodities Exchange
- Binh Thuan Hamico - Vietnam
- Agrawal Coal Company - India
- IHS Mccloskey Coal Group - USA
- San Jose City I Power Corp, Philippines
- Ambuja Cements Ltd - India
- Port Waratah Coal Services - Australia
- Makarim & Taira - Indonesia
- Siam City Cement PLC, Thailand
- PetroVietnam Power Coal Import and Supply Company
- Sical Logistics Limited - India
- GAC Shipping (India) Pvt Ltd
- Xindia Steels Limited - India
- Holcim Trading Pte Ltd - Singapore
- Indogreen Group - Indonesia
- Directorate Of Revenue Intelligence - India
- Global Coal Blending Company Limited - Australia
- Coal and Oil Company - UAE
- Bukit Makmur.PT - Indonesia
- Kobexindo Tractors - Indoneisa
- Sarangani Energy Corporation, Philippines
- Oldendorff Carriers - Singapore
- Gujarat Sidhee Cement - India
- Sree Jayajothi Cements Limited - India
- Heidelberg Cement - Germany
- Sindya Power Generating Company Private Ltd
- Global Green Power PLC Corporation, Philippines
- The University of Queensland
- GVK Power & Infra Limited - India
- Kapuas Tunggal Persada - Indonesia
- Essar Steel Hazira Ltd - India
- Merrill Lynch Commodities Europe
- European Bulk Services B.V. - Netherlands
- Eastern Energy - Thailand
- Gujarat Electricity Regulatory Commission - India
- The State Trading Corporation of India Ltd
- Petron Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Kumho Petrochemical, South Korea
- Bank of Tokyo Mitsubishi UFJ Ltd
- Eastern Coal Council - USA
- Standard Chartered Bank - UAE
- TNB Fuel Sdn Bhd - Malaysia
- PNOC Exploration Corporation - Philippines
- Singapore Mercantile Exchange
- Central Java Power - Indonesia
- Grasim Industreis Ltd - India
- Marubeni Corporation - India
- Orica Mining Services - Indonesia
- Australian Commodity Traders Exchange
- Anglo American - United Kingdom
- OPG Power Generation Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Pendopo Energi Batubara - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Billiton Holdings Pty Ltd - Australia
- PowerSource Philippines DevCo
- Ind-Barath Power Infra Limited - India
- Jaiprakash Power Ventures ltd
- Bulk Trading Sa - Switzerland
- Antam Resourcindo - Indonesia
- Larsen & Toubro Limited - India
- Planning Commission, India
- Coalindo Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Commonwealth Bank - Australia
- India Bulls Power Limited - India
- Mercuria Energy - Indonesia
- Indian Oil Corporation Limited
- Deloitte Consulting - India
- Banpu Public Company Limited - Thailand
- Edison Trading Spa - Italy
- Kepco SPC Power Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Aboitiz Power Corporation - Philippines
- Malabar Cements Ltd - India
- Kaltim Prima Coal - Indonesia
- Maheswari Brothers Coal Limited - India
- Posco Energy - South Korea
- Chamber of Mines of South Africa
- Karbindo Abesyapradhi - Indoneisa
- Maharashtra Electricity Regulatory Commission - India
- Mjunction Services Limited - India
- Meenaskhi Energy Private Limited - India
- Lanco Infratech Ltd - India
- Therma Luzon, Inc, Philippines
- SN Aboitiz Power Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Alfred C Toepfer International GmbH - Germany
- Indian Energy Exchange, India
- Rio Tinto Coal - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Dalmia Cement Bharat India
- International Coal Ventures Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Bhatia International Limited - India
- Meralco Power Generation, Philippines
- Wilmar Investment Holdings
- Star Paper Mills Limited - India
- Thiess Contractors Indonesia
- Interocean Group of Companies - India
- Africa Commodities Group - South Africa
- Thai Mozambique Logistica
- Electricity Authority, New Zealand
- LBH Netherlands Bv - Netherlands
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Vizag Seaport Private Limited - India
- Sinarmas Energy and Mining - Indonesia
- VISA Power Limited - India
- Ceylon Electricity Board - Sri Lanka
- Kideco Jaya Agung - Indonesia
- CIMB Investment Bank - Malaysia
- Barasentosa Lestari - Indonesia
- Cement Manufacturers Association - India
- MS Steel International - UAE
- Energy Link Ltd, New Zealand
- Sakthi Sugars Limited - India
- Bhoruka Overseas - Indonesia
- Vedanta Resources Plc - India
- Indika Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Jorong Barutama Greston.PT - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Mintek Dendrill Indonesia
- Bhushan Steel Limited - India
- AsiaOL BioFuels Corp., Philippines
- Georgia Ports Authority, United States
- Pipit Mutiara Jaya. PT, Indonesia
- Parry Sugars Refinery, India
- Madhucon Powers Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Krishnapatnam Port Company Ltd. - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bukit Baiduri Energy - Indonesia
- New Zealand Coal & Carbon
- Uttam Galva Steels Limited - India
- ICICI Bank Limited - India
- Attock Cement Pakistan Limited
- White Energy Company Limited
- IEA Clean Coal Centre - UK
- GMR Energy Limited - India
- Straits Asia Resources Limited - Singapore
- Kartika Selabumi Mining - Indonesia
- Latin American Coal - Colombia
- Directorate General of MIneral and Coal - Indonesia
- London Commodity Brokers - England
- Bangladesh Power Developement Board
- Ministry of Finance - Indonesia
- Baramulti Group, Indonesia
- Central Electricity Authority - India
- Global Business Power Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Bayan Resources Tbk. - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Renaissance Capital - South Africa
- Energy Development Corp, Philippines
- Aditya Birla Group - India
- Goldman Sachs - Singapore
- Toyota Tsusho Corporation, Japan
- Karaikal Port Pvt Ltd - India
- Ministry of Transport, Egypt
- SMG Consultants - Indonesia
- Carbofer General Trading SA - India
- Borneo Indobara - Indonesia
- SMC Global Power, Philippines
- PTC India Limited - India
- Power Finance Corporation Ltd., India
- Price Waterhouse Coopers - Russia
- Electricity Generating Authority of Thailand
- Intertek Mineral Services - Indonesia
- The Treasury - Australian Government
- Kohat Cement Company Ltd. - Pakistan
- Wood Mackenzie - Singapore
- Tata Chemicals Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Mercator Lines Limited - India
- Siam City Cement - Thailand
- Jindal Steel & Power Ltd - India
- Formosa Plastics Group - Taiwan
- TeaM Sual Corporation - Philippines
- CNBM International Corporation - China
- Samtan Co., Ltd - South Korea
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Bharathi Cement Corporation - India
- GN Power Mariveles Coal Plant, Philippines
- Salva Resources Pvt Ltd - India
- Parliament of New Zealand
- Sojitz Corporation - Japan
- Miang Besar Coal Terminal - Indonesia
- Tamil Nadu electricity Board
- Economic Council, Georgia
- Iligan Light & Power Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Riau Bara Harum - Indonesia
- Metalloyd Limited - United Kingdom
- Independent Power Producers Association of India
- ASAPP Information Group - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Indo Tambangraya Megah - Indonesia
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