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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, 25 December 13
SHIPPING : AS FAR AS THIS CYCLE IS CONCERNED, 'WE HAVE SEEN THE WORST....!' - JOHN N. COTZIAS
In a week’s time the year comes to an end. Having been a speaker in two seminars over the past 5 days I was able to see the year ending trends ...
Tuesday, 24 December 13
AUSTRALIAN NEWCASTLE PORT'S WEEKLY COAL EXPORTS UP 11.46% W-W
COALspot.com: In the week ended December 23, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensland, totalled 3.84 ...
Tuesday, 24 December 13
SGX HAS LAUNCHED FREIGHT FUTURES
COALspot.com: Singapore Exchange (SGX) has announced the launch of freight future yesterday.
According to SGX’s press release, SGX has laun ...
Monday, 23 December 13
API 8 CFR SOUTH CHINA COAL SWAP FOR AVERAGE Q1' 14 CLOSED AT $ 82.80
COALspot.com : API 8 CFR South China Coal swaps for average Q1’ 14 delivery gained 2.97 percept month on month as on Friday 20 December 2013. ...
Sunday, 22 December 13
Q1' 14 DELIVERY COAL SWAPS CLOSING HIGH COMPARED TO Q4' 14 DELIVERY CLOSING
COALspot.com – Sub-Bit Indonesia coal swap (FOB) for average Q1’ 14 delivery gained $ 1.31 pmt month on month on Friday 20 December 2013 ...
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- LBH Netherlands Bv - Netherlands
- Toyota Tsusho Corporation, Japan
- Trasteel International SA, Italy
- India Bulls Power Limited - India
- San Jose City I Power Corp, Philippines
- Sindya Power Generating Company Private Ltd
- Directorate Of Revenue Intelligence - India
- Bayan Resources Tbk. - Indonesia
- CIMB Investment Bank - Malaysia
- Karaikal Port Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Rio Tinto Coal - Australia
- Therma Luzon, Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Australian Commodity Traders Exchange
- Semirara Mining Corp, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Global Business Power Corporation, Philippines
- Parliament of New Zealand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- AsiaOL BioFuels Corp., Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Semirara Mining and Power Corporation, Philippines
- Commonwealth Bank - Australia
- Dalmia Cement Bharat India
- Australian Coal Association
- Bharathi Cement Corporation - India
- GAC Shipping (India) Pvt Ltd
- Standard Chartered Bank - UAE
- Sojitz Corporation - Japan
- Aboitiz Power Corporation - Philippines
- Indika Energy - Indonesia
- Makarim & Taira - Indonesia
- Kartika Selabumi Mining - Indonesia
- OPG Power Generation Pvt Ltd - India
- Economic Council, Georgia
- Tata Chemicals Ltd - India
- Cigading International Bulk Terminal - Indonesia
- PNOC Exploration Corporation - Philippines
- Bhatia International Limited - India
- Singapore Mercantile Exchange
- The State Trading Corporation of India Ltd
- Electricity Authority, New Zealand
- SMC Global Power, Philippines
- Miang Besar Coal Terminal - Indonesia
- Star Paper Mills Limited - India
- Wood Mackenzie - Singapore
- Formosa Plastics Group - Taiwan
- Kideco Jaya Agung - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Borneo Indobara - Indonesia
- SN Aboitiz Power Inc, Philippines
- White Energy Company Limited
- Medco Energi Mining Internasional
- Merrill Lynch Commodities Europe
- Barasentosa Lestari - Indonesia
- Romanian Commodities Exchange
- Chettinad Cement Corporation Ltd - India
- Pendopo Energi Batubara - Indonesia
- Energy Development Corp, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Global Coal Blending Company Limited - Australia
- Savvy Resources Ltd - HongKong
- TNB Fuel Sdn Bhd - Malaysia
- Kaltim Prima Coal - Indonesia
- Power Finance Corporation Ltd., India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Maheswari Brothers Coal Limited - India
- Simpson Spence & Young - Indonesia
- Aditya Birla Group - India
- Chamber of Mines of South Africa
- Videocon Industries ltd - India
- PTC India Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Madhucon Powers Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Essar Steel Hazira Ltd - India
- Sree Jayajothi Cements Limited - India
- Larsen & Toubro Limited - India
- ICICI Bank Limited - India
- IEA Clean Coal Centre - UK
- Global Green Power PLC Corporation, Philippines
- New Zealand Coal & Carbon
- CNBM International Corporation - China
- Eastern Energy - Thailand
- Samtan Co., Ltd - South Korea
- Indogreen Group - Indonesia
- Antam Resourcindo - Indonesia
- Central Electricity Authority - India
- Grasim Industreis Ltd - India
- Salva Resources Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Georgia Ports Authority, United States
- Energy Link Ltd, New Zealand
- Eastern Coal Council - USA
- Carbofer General Trading SA - India
- MS Steel International - UAE
- Indonesian Coal Mining Association
- Bhoruka Overseas - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Goldman Sachs - Singapore
- IHS Mccloskey Coal Group - USA
- Bukit Makmur.PT - Indonesia
- McConnell Dowell - Australia
- Africa Commodities Group - South Africa
- GMR Energy Limited - India
- Xindia Steels Limited - India
- Minerals Council of Australia
- Alfred C Toepfer International GmbH - Germany
- Price Waterhouse Coopers - Russia
- GN Power Mariveles Coal Plant, Philippines
- Jindal Steel & Power Ltd - India
- Cement Manufacturers Association - India
- Meralco Power Generation, Philippines
- Edison Trading Spa - Italy
- International Coal Ventures Pvt Ltd - India
- ASAPP Information Group - India
- Sinarmas Energy and Mining - Indonesia
- PowerSource Philippines DevCo
- Neyveli Lignite Corporation Ltd, - India
- Marubeni Corporation - India
- South Luzon Thermal Energy Corporation
- Ministry of Finance - Indonesia
- Ambuja Cements Ltd - India
- Central Java Power - Indonesia
- Orica Mining Services - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mintek Dendrill Indonesia
- VISA Power Limited - India
- Sarangani Energy Corporation, Philippines
- Lanco Infratech Ltd - India
- Straits Asia Resources Limited - Singapore
- The University of Queensland
- Riau Bara Harum - Indonesia
- Thiess Contractors Indonesia
- Agrawal Coal Company - India
- Timah Investasi Mineral - Indoneisa
- Thai Mozambique Logistica
- Bangladesh Power Developement Board
- Mercuria Energy - Indonesia
- Anglo American - United Kingdom
- London Commodity Brokers - England
- Gujarat Mineral Development Corp Ltd - India
- Mercator Lines Limited - India
- Baramulti Group, Indonesia
- Malabar Cements Ltd - India
- Mjunction Services Limited - India
- Renaissance Capital - South Africa
- Ministry of Mines - Canada
- Indian Oil Corporation Limited
- Altura Mining Limited, Indonesia
- Banpu Public Company Limited - Thailand
- Bulk Trading Sa - Switzerland
- Petron Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Siam City Cement - Thailand
- TeaM Sual Corporation - Philippines
- Rashtriya Ispat Nigam Limited - India
- The Treasury - Australian Government
- Intertek Mineral Services - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Planning Commission, India
- Kalimantan Lumbung Energi - Indonesia
- Metalloyd Limited - United Kingdom
- Coal and Oil Company - UAE
- Port Waratah Coal Services - Australia
- Heidelberg Cement - Germany
- SMG Consultants - Indonesia
- Attock Cement Pakistan Limited
- Deloitte Consulting - India
- Bukit Asam (Persero) Tbk - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Sakthi Sugars Limited - India
- Ministry of Transport, Egypt
- Indo Tambangraya Megah - Indonesia
- Coalindo Energy - Indonesia
- Independent Power Producers Association of India
- Posco Energy - South Korea
- Holcim Trading Pte Ltd - Singapore
- Meenaskhi Energy Private Limited - India
- Globalindo Alam Lestari - Indonesia
- Kobexindo Tractors - Indoneisa
- Electricity Generating Authority of Thailand
- Uttam Galva Steels Limited - India
- Siam City Cement PLC, Thailand
- Wilmar Investment Holdings
- Indian Energy Exchange, India
- Interocean Group of Companies - India
- Directorate General of MIneral and Coal - Indonesia
- Sical Logistics Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Ind-Barath Power Infra Limited - India
- Oldendorff Carriers - Singapore
- Orica Australia Pty. Ltd.
- Billiton Holdings Pty Ltd - Australia
- Kohat Cement Company Ltd. - Pakistan
- European Bulk Services B.V. - Netherlands
- Iligan Light & Power Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Ceylon Electricity Board - Sri Lanka
- Jaiprakash Power Ventures ltd
- Parry Sugars Refinery, India
- Kapuas Tunggal Persada - Indonesia
- GVK Power & Infra Limited - India
- Tamil Nadu electricity Board
- Maharashtra Electricity Regulatory Commission - India
- Kepco SPC Power Corporation, Philippines
- Vedanta Resources Plc - India
- Bhushan Steel Limited - India
- Binh Thuan Hamico - Vietnam
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Gujarat Sidhee Cement - India
- Gujarat Electricity Regulatory Commission - India
- Latin American Coal - Colombia
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