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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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Sunday, 24 November 13
SUPRAMAX FREIGHT RATES REMAINED FIRM FROM INDONESIA TO INDIA AND CHINA - SOLYM
COALspot.com: The freight market was fairly steady except for the Supramax in SE Asia region which continued to remain firm. The BDI was down by 1.5 ...
Friday, 22 November 13
DRY BULK MARKET STILL LACKLUSTRE, DESPITE PROJECTIONS OF A NEW RALLY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
We might still be about six weeks far from the end of the year, but the projected by many analysts upcoming rally of the dry bulk market, hasn't ye ...
Friday, 22 November 13
US COAL PRODUCTION DOWN 1.3% W-W
COALspot.com – United States the world’s second largest coal producer, produced approximately 19.5 million short tons (mmst) of coal in ...
Thursday, 21 November 13
TAIPOWER TO PROCURE 750K MT OF 5500 GAR BITUMINOUS COAL FOR MAY - AUGUST 2014
COALspot.com: Taiwan Power Company intends to procure 750,000 metric tons of bituminous coal with calorific value not lesser than 5,500 kcal/kg on a ...
Thursday, 21 November 13
CAPESIZE : THE DOWNWARD TREND HAS TURNED INTO NOTABLE SPOT AND PERIOD IMPROVEMENT - FEARNLEYS
Handy
The Atlantic market experienced a general rate increase for most trades this week. More cargoes in the market and chrts looking for prompt t ...
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- Chamber of Mines of South Africa
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- Medco Energi Mining Internasional
- Meralco Power Generation, Philippines
- Economic Council, Georgia
- Petron Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- San Jose City I Power Corp, Philippines
- Krishnapatnam Port Company Ltd. - India
- Metalloyd Limited - United Kingdom
- Orica Mining Services - Indonesia
- Cement Manufacturers Association - India
- Jindal Steel & Power Ltd - India
- Straits Asia Resources Limited - Singapore
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- Globalindo Alam Lestari - Indonesia
- Indian Energy Exchange, India
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- Cigading International Bulk Terminal - Indonesia
- Kaltim Prima Coal - Indonesia
- Mintek Dendrill Indonesia
- SMC Global Power, Philippines
- Merrill Lynch Commodities Europe
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- Wood Mackenzie - Singapore
- Bulk Trading Sa - Switzerland
- Sical Logistics Limited - India
- Bhatia International Limited - India
- Rio Tinto Coal - Australia
- Kobexindo Tractors - Indoneisa
- Ministry of Transport, Egypt
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- Latin American Coal - Colombia
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- Lanco Infratech Ltd - India
- Larsen & Toubro Limited - India
- Baramulti Group, Indonesia
- The Treasury - Australian Government
- Xindia Steels Limited - India
- MS Steel International - UAE
- Dalmia Cement Bharat India
- Singapore Mercantile Exchange
- Electricity Authority, New Zealand
- Kalimantan Lumbung Energi - Indonesia
- Banpu Public Company Limited - Thailand
- White Energy Company Limited
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- Indonesian Coal Mining Association
- PTC India Limited - India
- Iligan Light & Power Inc, Philippines
- Energy Development Corp, Philippines
- Wilmar Investment Holdings
- Sojitz Corporation - Japan
- Aboitiz Power Corporation - Philippines
- GAC Shipping (India) Pvt Ltd
- Planning Commission, India
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- Bukit Makmur.PT - Indonesia
- Parry Sugars Refinery, India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
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- Barasentosa Lestari - Indonesia
- Jaiprakash Power Ventures ltd
- Global Coal Blending Company Limited - Australia
- Romanian Commodities Exchange
- Manunggal Multi Energi - Indonesia
- IHS Mccloskey Coal Group - USA
- Indo Tambangraya Megah - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Parliament of New Zealand
- Ind-Barath Power Infra Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Makarim & Taira - Indonesia
- Gujarat Electricity Regulatory Commission - India
- LBH Netherlands Bv - Netherlands
- Salva Resources Pvt Ltd - India
- GVK Power & Infra Limited - India
- CNBM International Corporation - China
- Minerals Council of Australia
- Billiton Holdings Pty Ltd - Australia
- Riau Bara Harum - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Australian Coal Association
- Edison Trading Spa - Italy
- Directorate General of MIneral and Coal - Indonesia
- Power Finance Corporation Ltd., India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Altura Mining Limited, Indonesia
- Borneo Indobara - Indonesia
- ASAPP Information Group - India
- CIMB Investment Bank - Malaysia
- London Commodity Brokers - England
- Videocon Industries ltd - India
- New Zealand Coal & Carbon
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- ICICI Bank Limited - India
- Agrawal Coal Company - India
- Bukit Baiduri Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- PowerSource Philippines DevCo
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- Thai Mozambique Logistica
- Formosa Plastics Group - Taiwan
- Jorong Barutama Greston.PT - Indonesia
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- Neyveli Lignite Corporation Ltd, - India
- Sindya Power Generating Company Private Ltd
- Ceylon Electricity Board - Sri Lanka
- Tamil Nadu electricity Board
- Holcim Trading Pte Ltd - Singapore
- Anglo American - United Kingdom
- Standard Chartered Bank - UAE
- Petrochimia International Co. Ltd.- Taiwan
- Coastal Gujarat Power Limited - India
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- PNOC Exploration Corporation - Philippines
- Bhoruka Overseas - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Antam Resourcindo - Indonesia
- Ambuja Cements Ltd - India
- South Luzon Thermal Energy Corporation
- Karaikal Port Pvt Ltd - India
- Tata Chemicals Ltd - India
- Africa Commodities Group - South Africa
- Interocean Group of Companies - India
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- Asmin Koalindo Tuhup - Indonesia
- Eastern Coal Council - USA
- Coal and Oil Company - UAE
- Sinarmas Energy and Mining - Indonesia
- Renaissance Capital - South Africa
- Uttam Galva Steels Limited - India
- Intertek Mineral Services - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Vedanta Resources Plc - India
- Bhushan Steel Limited - India
- Therma Luzon, Inc, Philippines
- Bharathi Cement Corporation - India
- Indogreen Group - Indonesia
- Marubeni Corporation - India
- The State Trading Corporation of India Ltd
- Thiess Contractors Indonesia
- Orica Australia Pty. Ltd.
- Malabar Cements Ltd - India
- Port Waratah Coal Services - Australia
- Essar Steel Hazira Ltd - India
- Independent Power Producers Association of India
- International Coal Ventures Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Energy Link Ltd, New Zealand
- Commonwealth Bank - Australia
- IEA Clean Coal Centre - UK
- Kumho Petrochemical, South Korea
- Central Electricity Authority - India
- Mercator Lines Limited - India
- Maheswari Brothers Coal Limited - India
- Posco Energy - South Korea
- Kapuas Tunggal Persada - Indonesia
- Bangladesh Power Developement Board
- Electricity Generating Authority of Thailand
- Kartika Selabumi Mining - Indonesia
- Directorate Of Revenue Intelligence - India
- Ministry of Mines - Canada
- Indian Oil Corporation Limited
- Coalindo Energy - Indonesia
- The University of Queensland
- Oldendorff Carriers - Singapore
- Sakthi Sugars Limited - India
- Ministry of Finance - Indonesia
- Heidelberg Cement - Germany
- Kideco Jaya Agung - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- AsiaOL BioFuels Corp., Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- McConnell Dowell - Australia
- Deloitte Consulting - India
- India Bulls Power Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Siam City Cement PLC, Thailand
- Simpson Spence & Young - Indonesia
- Mercuria Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Global Business Power Corporation, Philippines
- Eastern Energy - Thailand
- Price Waterhouse Coopers - Russia
- Samtan Co., Ltd - South Korea
- Australian Commodity Traders Exchange
- Georgia Ports Authority, United States
- Mjunction Services Limited - India
- Toyota Tsusho Corporation, Japan
- PetroVietnam Power Coal Import and Supply Company
- Global Green Power PLC Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Miang Besar Coal Terminal - Indonesia
- European Bulk Services B.V. - Netherlands
- Indika Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Gujarat Sidhee Cement - India
- Aditya Birla Group - India
- Goldman Sachs - Singapore
- Karbindo Abesyapradhi - Indoneisa
- GMR Energy Limited - India
- Siam City Cement - Thailand
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