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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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Friday, 13 December 13
HARD COAL : VOLUMES POSSIBLY AT RECORD-BREAKING HIGH; PRICES POSSIBLY AT A RECORD-BREAKING LOW - VDKI
Press Release : World Hard Coal Market 2013: volumes possibly at record-breaking high, prices possibly at a record-breaking low. German and UK impor ...
Friday, 13 December 13
DRY BULK SHIPPING TO WITNESS HEALTHY DEMAND MOVING FORWARD - ICS
The Institute of Chartered Shipbrokers Greek Branch organised its 9th Annual Forum at Eugenides Foundation, on Wednesday, 11th of December, with a r ...
Friday, 13 December 13
US PRODUCED APPROXIMATELY 18.4 MILLION SHORT TONS OF COAL W/E 7 DECEMBER 2013
COALspot.com – United States the world’s second largest coal producer, produced approximately 18.4 million short tons (mmst) of coal in ...
Thursday, 12 December 13
GREAT EXPECTATIONS SANCTIONED - EVA TZIMA
News that sanctions on Iranian oil exports could be lifted sometime in the following months have shaken the markets recently. One of the world&rsquo ...
Thursday, 12 December 13
DRY BULK MARKET RATES FOR CAPESIZES TO REMAIN VOLATILE SAYS BIMCO
The dry bulk market has reached multi year highs this week, as the BDI is standing at the 2,300-point mark. In its analysis of the market, BIMCO pre ...
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- Sarangani Energy Corporation, Philippines
- Central Electricity Authority - India
- Coastal Gujarat Power Limited - India
- Rashtriya Ispat Nigam Limited - India
- Kapuas Tunggal Persada - Indonesia
- Sojitz Corporation - Japan
- SMG Consultants - Indonesia
- Simpson Spence & Young - Indonesia
- Agrawal Coal Company - India
- Electricity Authority, New Zealand
- ASAPP Information Group - India
- Cement Manufacturers Association - India
- Bhoruka Overseas - Indonesia
- Sical Logistics Limited - India
- Standard Chartered Bank - UAE
- Videocon Industries ltd - India
- Trasteel International SA, Italy
- San Jose City I Power Corp, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- PNOC Exploration Corporation - Philippines
- Cigading International Bulk Terminal - Indonesia
- VISA Power Limited - India
- Medco Energi Mining Internasional
- Planning Commission, India
- Singapore Mercantile Exchange
- The State Trading Corporation of India Ltd
- Deloitte Consulting - India
- Asmin Koalindo Tuhup - Indonesia
- MS Steel International - UAE
- Iligan Light & Power Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Orica Mining Services - Indonesia
- Minerals Council of Australia
- Pendopo Energi Batubara - Indonesia
- Timah Investasi Mineral - Indoneisa
- Siam City Cement PLC, Thailand
- Globalindo Alam Lestari - Indonesia
- Romanian Commodities Exchange
- Metalloyd Limited - United Kingdom
- Holcim Trading Pte Ltd - Singapore
- Madhucon Powers Ltd - India
- Merrill Lynch Commodities Europe
- Coal and Oil Company - UAE
- London Commodity Brokers - England
- Jaiprakash Power Ventures ltd
- Sree Jayajothi Cements Limited - India
- Independent Power Producers Association of India
- CNBM International Corporation - China
- Banpu Public Company Limited - Thailand
- Goldman Sachs - Singapore
- Maheswari Brothers Coal Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Star Paper Mills Limited - India
- AsiaOL BioFuels Corp., Philippines
- Indo Tambangraya Megah - Indonesia
- Bharathi Cement Corporation - India
- Parliament of New Zealand
- Vizag Seaport Private Limited - India
- TeaM Sual Corporation - Philippines
- Africa Commodities Group - South Africa
- Ministry of Transport, Egypt
- India Bulls Power Limited - India
- Kepco SPC Power Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Binh Thuan Hamico - Vietnam
- Bukit Baiduri Energy - Indonesia
- Central Java Power - Indonesia
- Ind-Barath Power Infra Limited - India
- Indika Energy - Indonesia
- New Zealand Coal & Carbon
- Attock Cement Pakistan Limited
- Semirara Mining and Power Corporation, Philippines
- Borneo Indobara - Indonesia
- GAC Shipping (India) Pvt Ltd
- Wood Mackenzie - Singapore
- Toyota Tsusho Corporation, Japan
- Manunggal Multi Energi - Indonesia
- Australian Commodity Traders Exchange
- Karbindo Abesyapradhi - Indoneisa
- Ministry of Finance - Indonesia
- South Luzon Thermal Energy Corporation
- Sinarmas Energy and Mining - Indonesia
- Mercuria Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Eastern Coal Council - USA
- Gujarat Sidhee Cement - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vedanta Resources Plc - India
- Kartika Selabumi Mining - Indonesia
- Global Business Power Corporation, Philippines
- Bhushan Steel Limited - India
- Energy Development Corp, Philippines
- Larsen & Toubro Limited - India
- White Energy Company Limited
- Aditya Birla Group - India
- Jindal Steel & Power Ltd - India
- Bangladesh Power Developement Board
- Ambuja Cements Ltd - India
- Kumho Petrochemical, South Korea
- Makarim & Taira - Indonesia
- OPG Power Generation Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Chamber of Mines of South Africa
- Oldendorff Carriers - Singapore
- Sindya Power Generating Company Private Ltd
- Karaikal Port Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Indian Energy Exchange, India
- Posco Energy - South Korea
- PetroVietnam Power Coal Import and Supply Company
- Wilmar Investment Holdings
- Kaltim Prima Coal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Alfred C Toepfer International GmbH - Germany
- PTC India Limited - India
- Thai Mozambique Logistica
- Kalimantan Lumbung Energi - Indonesia
- Directorate Of Revenue Intelligence - India
- Power Finance Corporation Ltd., India
- Price Waterhouse Coopers - Russia
- Grasim Industreis Ltd - India
- Indogreen Group - Indonesia
- Bukit Makmur.PT - Indonesia
- Riau Bara Harum - Indonesia
- Energy Link Ltd, New Zealand
- McConnell Dowell - Australia
- Mintek Dendrill Indonesia
- Malabar Cements Ltd - India
- PowerSource Philippines DevCo
- Savvy Resources Ltd - HongKong
- Dalmia Cement Bharat India
- Sakthi Sugars Limited - India
- IEA Clean Coal Centre - UK
- LBH Netherlands Bv - Netherlands
- Heidelberg Cement - Germany
- Formosa Plastics Group - Taiwan
- The University of Queensland
- Rio Tinto Coal - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GVK Power & Infra Limited - India
- Intertek Mineral Services - Indonesia
- GMR Energy Limited - India
- Uttam Galva Steels Limited - India
- ICICI Bank Limited - India
- Marubeni Corporation - India
- GN Power Mariveles Coal Plant, Philippines
- Thiess Contractors Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Krishnapatnam Port Company Ltd. - India
- Baramulti Group, Indonesia
- Mjunction Services Limited - India
- Tata Chemicals Ltd - India
- SMC Global Power, Philippines
- Gujarat Electricity Regulatory Commission - India
- Australian Coal Association
- TNB Fuel Sdn Bhd - Malaysia
- Miang Besar Coal Terminal - Indonesia
- Ministry of Mines - Canada
- Georgia Ports Authority, United States
- Siam City Cement - Thailand
- Tamil Nadu electricity Board
- Anglo American - United Kingdom
- Port Waratah Coal Services - Australia
- Essar Steel Hazira Ltd - India
- The Treasury - Australian Government
- Latin American Coal - Colombia
- Renaissance Capital - South Africa
- Meralco Power Generation, Philippines
- Indian Oil Corporation Limited
- Altura Mining Limited, Indonesia
- Semirara Mining Corp, Philippines
- Leighton Contractors Pty Ltd - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kideco Jaya Agung - Indonesia
- European Bulk Services B.V. - Netherlands
- Commonwealth Bank - Australia
- Therma Luzon, Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Economic Council, Georgia
- Lanco Infratech Ltd - India
- Eastern Energy - Thailand
- Samtan Co., Ltd - South Korea
- Bukit Asam (Persero) Tbk - Indonesia
- Antam Resourcindo - Indonesia
- Bayan Resources Tbk. - Indonesia
- Indonesian Coal Mining Association
- Maharashtra Electricity Regulatory Commission - India
- Bahari Cakrawala Sebuku - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Interocean Group of Companies - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Xindia Steels Limited - India
- Orica Australia Pty. Ltd.
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Petron Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Coalindo Energy - Indonesia
- Mercator Lines Limited - India
- Parry Sugars Refinery, India
- Billiton Holdings Pty Ltd - Australia
- Aboitiz Power Corporation - Philippines
- Jorong Barutama Greston.PT - Indonesia
- Kobexindo Tractors - Indoneisa
- Bhatia International Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Global Green Power PLC Corporation, Philippines
- Electricity Generating Authority of Thailand
- Edison Trading Spa - Italy
- Bulk Trading Sa - Switzerland
- CIMB Investment Bank - Malaysia
- Carbofer General Trading SA - India
- Straits Asia Resources Limited - Singapore
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