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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, 18 December 13
DEMOLITION ACTIVITY SCALED BACK AS FREIGHT RATES RISE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
It's always been the case that each time we witness a spike in freight rates, demolition activity is decreasing, as owners are looking for more car ...
Tuesday, 17 December 13
NEWCASTLE COAL EXPORTS UP 37.83% WEEK ON WEEK
COALspot.com: In the week ended December 16, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensland, totalled 3.45 ...
Monday, 16 December 13
SUB-BIT FOB INDONESIA COAL SWAP LOST $ 0.53 IN A WEEK
COALspot.com – Sub-Bit Indonesia coal swap (FOB) for average Q1’ 14 delivery gained $ 0.91 pmt month on month on Friday 13 December 2013 ...
Monday, 16 December 13
API 8 CFR SOUTH CHINA COAL Q3' 14 DELIVERY PRICE CLOSED $1.63 LESSER THAN Q1' 14 PRICE
COALspot.com : API 8 CFR South China Coal swaps for average Q1’ 14 delivery gained 5.34 percept month on month as on Friday 13 December 2013. ...
Sunday, 15 December 13
SUPRAMAX'S FREIGHT RALLY COMES TO AN END THIS WEEK
COALspot.com: The BDI was up by 7 pct closing at 2,330 points week on week and the cape index was also up by 10.51 points and closed at 4,246 points ...
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- Ministry of Mines - Canada
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- Edison Trading Spa - Italy
- Coal and Oil Company - UAE
- Manunggal Multi Energi - Indonesia
- Mercuria Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
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- Economic Council, Georgia
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- New Zealand Coal & Carbon
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- Indonesian Coal Mining Association
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- Latin American Coal - Colombia
- Metalloyd Limited - United Kingdom
- Ceylon Electricity Board - Sri Lanka
- The University of Queensland
- Indika Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Thiess Contractors Indonesia
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- Eastern Energy - Thailand
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- Coastal Gujarat Power Limited - India
- Baramulti Group, Indonesia
- Formosa Plastics Group - Taiwan
- Price Waterhouse Coopers - Russia
- Grasim Industreis Ltd - India
- Commonwealth Bank - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Pendopo Energi Batubara - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Antam Resourcindo - Indonesia
- Intertek Mineral Services - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mjunction Services Limited - India
- TeaM Sual Corporation - Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Alfred C Toepfer International GmbH - Germany
- Orica Mining Services - Indonesia
- Globalindo Alam Lestari - Indonesia
- Toyota Tsusho Corporation, Japan
- Krishnapatnam Port Company Ltd. - India
- Sree Jayajothi Cements Limited - India
- Global Coal Blending Company Limited - Australia
- Bukit Makmur.PT - Indonesia
- Lanco Infratech Ltd - India
- Minerals Council of Australia
- Videocon Industries ltd - India
- Bhoruka Overseas - Indonesia
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- Jindal Steel & Power Ltd - India
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- Bank of Tokyo Mitsubishi UFJ Ltd
- Trasteel International SA, Italy
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- Kapuas Tunggal Persada - Indonesia
- Independent Power Producers Association of India
- The State Trading Corporation of India Ltd
- Sindya Power Generating Company Private Ltd
- Parliament of New Zealand
- Directorate General of MIneral and Coal - Indonesia
- Eastern Coal Council - USA
- Asmin Koalindo Tuhup - Indonesia
- Electricity Generating Authority of Thailand
- Miang Besar Coal Terminal - Indonesia
- Georgia Ports Authority, United States
- Rio Tinto Coal - Australia
- Africa Commodities Group - South Africa
- SN Aboitiz Power Inc, Philippines
- Kaltim Prima Coal - Indonesia
- European Bulk Services B.V. - Netherlands
- Kepco SPC Power Corporation, Philippines
- Attock Cement Pakistan Limited
- Rashtriya Ispat Nigam Limited - India
- Merrill Lynch Commodities Europe
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- SMG Consultants - Indonesia
- Siam City Cement - Thailand
- Siam City Cement PLC, Thailand
- Directorate Of Revenue Intelligence - India
- Tata Chemicals Ltd - India
- Central Electricity Authority - India
- Semirara Mining Corp, Philippines
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- Kumho Petrochemical, South Korea
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- San Jose City I Power Corp, Philippines
- Savvy Resources Ltd - HongKong
- White Energy Company Limited
- GAC Shipping (India) Pvt Ltd
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- Goldman Sachs - Singapore
- Kobexindo Tractors - Indoneisa
- London Commodity Brokers - England
- Indian Oil Corporation Limited
- Iligan Light & Power Inc, Philippines
- Simpson Spence & Young - Indonesia
- Indogreen Group - Indonesia
- Salva Resources Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Petron Corporation, Philippines
- Ministry of Finance - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- IHS Mccloskey Coal Group - USA
- Karbindo Abesyapradhi - Indoneisa
- Essar Steel Hazira Ltd - India
- AsiaOL BioFuels Corp., Philippines
- IEA Clean Coal Centre - UK
- Sojitz Corporation - Japan
- ICICI Bank Limited - India
- Cement Manufacturers Association - India
- Ambuja Cements Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Electricity Authority, New Zealand
- Borneo Indobara - Indonesia
- Medco Energi Mining Internasional
- Global Business Power Corporation, Philippines
- Mintek Dendrill Indonesia
- Marubeni Corporation - India
- Singapore Mercantile Exchange
- Bangladesh Power Developement Board
- Semirara Mining and Power Corporation, Philippines
- Interocean Group of Companies - India
- Dalmia Cement Bharat India
- Samtan Co., Ltd - South Korea
- Posco Energy - South Korea
- Meenaskhi Energy Private Limited - India
- ASAPP Information Group - India
- Straits Asia Resources Limited - Singapore
- Karaikal Port Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Energy Link Ltd, New Zealand
- CIMB Investment Bank - Malaysia
- MS Steel International - UAE
- Romanian Commodities Exchange
- Riau Bara Harum - Indonesia
- Orica Australia Pty. Ltd.
- Neyveli Lignite Corporation Ltd, - India
- Australian Coal Association
- Thai Mozambique Logistica
- Jorong Barutama Greston.PT - Indonesia
- PowerSource Philippines DevCo
- Indian Energy Exchange, India
- South Luzon Thermal Energy Corporation
- Wilmar Investment Holdings
- Deloitte Consulting - India
- Maharashtra Electricity Regulatory Commission - India
- Renaissance Capital - South Africa
- Barasentosa Lestari - Indonesia
- CNBM International Corporation - China
- Binh Thuan Hamico - Vietnam
- Maheswari Brothers Coal Limited - India
- PNOC Exploration Corporation - Philippines
- Power Finance Corporation Ltd., India
- Meralco Power Generation, Philippines
- Heidelberg Cement - Germany
- Holcim Trading Pte Ltd - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Wood Mackenzie - Singapore
- Kideco Jaya Agung - Indonesia
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- GN Power Mariveles Coal Plant, Philippines
- Sinarmas Energy and Mining - Indonesia
- Carbofer General Trading SA - India
- India Bulls Power Limited - India
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