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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, 27 November 13
SHIP OWNERS ONCE AGAIN TURN TO DRY BULK CARRIERS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Ship owners once again turned to more dry bulk carrier ordering over the course of the past week, as more and more appear convinced of the industry ...
Tuesday, 26 November 13
EWP INVITES COAL BIDS FOR 2014 - 2018 DELIVERIES
COALspot.com: Korea East-West Power Co. Ltd (EWP) invited bids to supply 130,000MT of min 5,600kcal/kg (Sub)-bituminous Coal on NCV basis for March ...
Tuesday, 26 November 13
NEWCASTLE COAL EXPORTS SLIP 22.62% W-W
COALspot.com: In the week ended November 25, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensland, totalled 2.26 ...
Monday, 25 November 13
THE SUB-BIT INDONESIA COAL SWAP MOVEMENT IN YEAR 2014 IS STILL FAR FROM PROMISING
COALspot.com – Sub-Bit Indonesia coal swap (FOB ) for average Q1’ 14 delivery gained $ 2.54 pmt month on month on Friday 22 Novemb ...
Sunday, 24 November 13
CFR SOUTH CHINA COAL SWAPS FOR Q4' 14 DELIVERY PRICE SHOWS A NEGATIVE TREND WEEK ON WEEK AND FLAT ON D-D
COALspot.com : API 8 CFR South China Coal swaps for average Q1’ 14 delivery gained 0.13 percept d-d on Friday 22 November 2013. The CFR South ...
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- Independent Power Producers Association of India
- ICICI Bank Limited - India
- Borneo Indobara - Indonesia
- Indian Energy Exchange, India
- Sical Logistics Limited - India
- Samtan Co., Ltd - South Korea
- Offshore Bulk Terminal Pte Ltd, Singapore
- Port Waratah Coal Services - Australia
- Singapore Mercantile Exchange
- IEA Clean Coal Centre - UK
- SN Aboitiz Power Inc, Philippines
- Bhushan Steel Limited - India
- Essar Steel Hazira Ltd - India
- The State Trading Corporation of India Ltd
- Meralco Power Generation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Trasteel International SA, Italy
- Karaikal Port Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Posco Energy - South Korea
- Bahari Cakrawala Sebuku - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Mercuria Energy - Indonesia
- Malabar Cements Ltd - India
- Medco Energi Mining Internasional
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- AsiaOL BioFuels Corp., Philippines
- Romanian Commodities Exchange
- Sakthi Sugars Limited - India
- Videocon Industries ltd - India
- McConnell Dowell - Australia
- Petron Corporation, Philippines
- GVK Power & Infra Limited - India
- Edison Trading Spa - Italy
- Deloitte Consulting - India
- Central Java Power - Indonesia
- Kepco SPC Power Corporation, Philippines
- SMG Consultants - Indonesia
- Ambuja Cements Ltd - India
- Kaltim Prima Coal - Indonesia
- Attock Cement Pakistan Limited
- PowerSource Philippines DevCo
- Formosa Plastics Group - Taiwan
- Chamber of Mines of South Africa
- Kumho Petrochemical, South Korea
- Barasentosa Lestari - Indonesia
- Africa Commodities Group - South Africa
- Electricity Authority, New Zealand
- Goldman Sachs - Singapore
- Simpson Spence & Young - Indonesia
- Bayan Resources Tbk. - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Binh Thuan Hamico - Vietnam
- Bhatia International Limited - India
- Sinarmas Energy and Mining - Indonesia
- Central Electricity Authority - India
- GN Power Mariveles Coal Plant, Philippines
- Ministry of Mines - Canada
- Aditya Birla Group - India
- Siam City Cement - Thailand
- Makarim & Taira - Indonesia
- Straits Asia Resources Limited - Singapore
- Directorate Of Revenue Intelligence - India
- Semirara Mining Corp, Philippines
- Orica Australia Pty. Ltd.
- Grasim Industreis Ltd - India
- Marubeni Corporation - India
- Coalindo Energy - Indonesia
- Sojitz Corporation - Japan
- Banpu Public Company Limited - Thailand
- Aboitiz Power Corporation - Philippines
- Parliament of New Zealand
- Thai Mozambique Logistica
- TeaM Sual Corporation - Philippines
- The Treasury - Australian Government
- LBH Netherlands Bv - Netherlands
- Vizag Seaport Private Limited - India
- Heidelberg Cement - Germany
- Global Coal Blending Company Limited - Australia
- Thiess Contractors Indonesia
- Eastern Energy - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Toyota Tsusho Corporation, Japan
- Miang Besar Coal Terminal - Indonesia
- Therma Luzon, Inc, Philippines
- Bhoruka Overseas - Indonesia
- Rio Tinto Coal - Australia
- Vedanta Resources Plc - India
- Agrawal Coal Company - India
- Baramulti Group, Indonesia
- Georgia Ports Authority, United States
- Antam Resourcindo - Indonesia
- Iligan Light & Power Inc, Philippines
- MS Steel International - UAE
- Australian Coal Association
- Indika Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- The University of Queensland
- Holcim Trading Pte Ltd - Singapore
- GAC Shipping (India) Pvt Ltd
- Coal and Oil Company - UAE
- CNBM International Corporation - China
- PNOC Exploration Corporation - Philippines
- Bulk Trading Sa - Switzerland
- Sarangani Energy Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Commonwealth Bank - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Interocean Group of Companies - India
- Maharashtra Electricity Regulatory Commission - India
- Meenaskhi Energy Private Limited - India
- Gujarat Electricity Regulatory Commission - India
- Neyveli Lignite Corporation Ltd, - India
- Renaissance Capital - South Africa
- Eastern Coal Council - USA
- Timah Investasi Mineral - Indoneisa
- Planning Commission, India
- Leighton Contractors Pty Ltd - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Merrill Lynch Commodities Europe
- Global Green Power PLC Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Uttam Galva Steels Limited - India
- Globalindo Alam Lestari - Indonesia
- Ind-Barath Power Infra Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Riau Bara Harum - Indonesia
- Coastal Gujarat Power Limited - India
- Star Paper Mills Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Indonesian Coal Mining Association
- Billiton Holdings Pty Ltd - Australia
- Cigading International Bulk Terminal - Indonesia
- Orica Mining Services - Indonesia
- Electricity Generating Authority of Thailand
- Jaiprakash Power Ventures ltd
- Metalloyd Limited - United Kingdom
- Wilmar Investment Holdings
- TNB Fuel Sdn Bhd - Malaysia
- Energy Development Corp, Philippines
- Oldendorff Carriers - Singapore
- Ceylon Electricity Board - Sri Lanka
- GMR Energy Limited - India
- Tamil Nadu electricity Board
- Savvy Resources Ltd - HongKong
- IHS Mccloskey Coal Group - USA
- Cement Manufacturers Association - India
- Tata Chemicals Ltd - India
- Global Business Power Corporation, Philippines
- Anglo American - United Kingdom
- Indogreen Group - Indonesia
- Siam City Cement PLC, Thailand
- Alfred C Toepfer International GmbH - Germany
- Mercator Lines Limited - India
- Larsen & Toubro Limited - India
- Latin American Coal - Colombia
- Chettinad Cement Corporation Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Kalimantan Lumbung Energi - Indonesia
- Altura Mining Limited, Indonesia
- PTC India Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- San Jose City I Power Corp, Philippines
- Kartika Selabumi Mining - Indonesia
- SMC Global Power, Philippines
- Mintek Dendrill Indonesia
- London Commodity Brokers - England
- New Zealand Coal & Carbon
- Sree Jayajothi Cements Limited - India
- Xindia Steels Limited - India
- Lanco Infratech Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Australian Commodity Traders Exchange
- Price Waterhouse Coopers - Russia
- VISA Power Limited - India
- Wood Mackenzie - Singapore
- Krishnapatnam Port Company Ltd. - India
- Jorong Barutama Greston.PT - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Salva Resources Pvt Ltd - India
- Madhucon Powers Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Economic Council, Georgia
- Indian Oil Corporation Limited
- Jindal Steel & Power Ltd - India
- Mjunction Services Limited - India
- Manunggal Multi Energi - Indonesia
- Dalmia Cement Bharat India
- Pendopo Energi Batubara - Indonesia
- Ministry of Transport, Egypt
- Bangladesh Power Developement Board
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Baiduri Energy - Indonesia
- India Bulls Power Limited - India
- Energy Link Ltd, New Zealand
- Kobexindo Tractors - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Carbofer General Trading SA - India
- Gujarat Sidhee Cement - India
- CIMB Investment Bank - Malaysia
- Standard Chartered Bank - UAE
- Indo Tambangraya Megah - Indonesia
- Power Finance Corporation Ltd., India
- Minerals Council of Australia
- ASAPP Information Group - India
- Ministry of Finance - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Kideco Jaya Agung - Indonesia
- Parry Sugars Refinery, India
- South Luzon Thermal Energy Corporation
- Intertek Mineral Services - Indonesia
- Bharathi Cement Corporation - India
- Bukit Makmur.PT - Indonesia
- White Energy Company Limited
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