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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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Tuesday, 19 November 13
SHIP OWNER POUR MORE MONEY INTO DRY BULK CARRIER ACQUISITIONS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The recent dry bulk market's rally, coupled with an expected fall in oversupply and robust cargo demand has boosted ship owners' optimism on the l ...
Monday, 18 November 13
SUB-BIT INDONESIA COAL SWAP LOST ON WEEK; MARGINALLY GAINED ON DAY
COALspot.com – Sub-Bit Indonesia coal swap (FOB ) for average Q1’ 14 delivery gained $ 1.25 pmt month on month on Friday 15 Novemb ...
Sunday, 17 November 13
Q4' 14 API 8 CFR SOUTH CHINA COAL SWAP CLOSED $ 3.43 PMT (4.34 %) HIGHER THAN Q1' 14 SWAP
COALspot.com : API 8 CFR South China Coal swaps for average Q1’ 14 delivery gained 0.05 percept d-d on Friday 15 November 2013. The CFR South ...
Saturday, 16 November 13
INDONESIA TO INDIA SUPRAMAX FREIGHT RATES FIRM DUE TO STRONG COAL ACTIVITIES
COALspot.com: The Cape and Panamax index was down this week and pulling down the BDI by about 5 pct. BDI was closed at 1507 points on Friday 1 ...
Friday, 15 November 13
DRY BULK MARKET STILL LINGERING ON, DESPITE PREDICTIONS OF NEW IMMINENT RALLY PRIOR TO THE YEAR'S END - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market hasn't yet managed to stage a new comeback after its retreat from the recent multiyear highs. Yesterday, the industry's benchm ...
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- The University of Queensland
- Altura Mining Limited, Indonesia
- Intertek Mineral Services - Indonesia
- Minerals Council of Australia
- Anglo American - United Kingdom
- IHS Mccloskey Coal Group - USA
- Mercuria Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Georgia Ports Authority, United States
- Maharashtra Electricity Regulatory Commission - India
- Orica Mining Services - Indonesia
- Parliament of New Zealand
- Lanco Infratech Ltd - India
- Electricity Authority, New Zealand
- Eastern Energy - Thailand
- Latin American Coal - Colombia
- Economic Council, Georgia
- ICICI Bank Limited - India
- Makarim & Taira - Indonesia
- CNBM International Corporation - China
- Siam City Cement PLC, Thailand
- Central Java Power - Indonesia
- Riau Bara Harum - Indonesia
- Sinarmas Energy and Mining - Indonesia
- OPG Power Generation Pvt Ltd - India
- Standard Chartered Bank - UAE
- Price Waterhouse Coopers - Russia
- Iligan Light & Power Inc, Philippines
- Metalloyd Limited - United Kingdom
- Central Electricity Authority - India
- International Coal Ventures Pvt Ltd - India
- London Commodity Brokers - England
- Mercator Lines Limited - India
- Miang Besar Coal Terminal - Indonesia
- Independent Power Producers Association of India
- Dalmia Cement Bharat India
- Samtan Co., Ltd - South Korea
- Ind-Barath Power Infra Limited - India
- Wood Mackenzie - Singapore
- Antam Resourcindo - Indonesia
- Xindia Steels Limited - India
- Madhucon Powers Ltd - India
- The State Trading Corporation of India Ltd
- Rio Tinto Coal - Australia
- GMR Energy Limited - India
- Aboitiz Power Corporation - Philippines
- Star Paper Mills Limited - India
- Posco Energy - South Korea
- Commonwealth Bank - Australia
- Sree Jayajothi Cements Limited - India
- LBH Netherlands Bv - Netherlands
- Aditya Birla Group - India
- Port Waratah Coal Services - Australia
- Tamil Nadu electricity Board
- Parry Sugars Refinery, India
- Directorate Of Revenue Intelligence - India
- SN Aboitiz Power Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Medco Energi Mining Internasional
- San Jose City I Power Corp, Philippines
- McConnell Dowell - Australia
- Power Finance Corporation Ltd., India
- Mintek Dendrill Indonesia
- Petron Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Siam City Cement - Thailand
- Vedanta Resources Plc - India
- South Luzon Thermal Energy Corporation
- Indo Tambangraya Megah - Indonesia
- Trasteel International SA, Italy
- Chettinad Cement Corporation Ltd - India
- Interocean Group of Companies - India
- Sakthi Sugars Limited - India
- Indogreen Group - Indonesia
- Gujarat Sidhee Cement - India
- Banpu Public Company Limited - Thailand
- Holcim Trading Pte Ltd - Singapore
- Krishnapatnam Port Company Ltd. - India
- Pipit Mutiara Jaya. PT, Indonesia
- Maheswari Brothers Coal Limited - India
- Global Coal Blending Company Limited - Australia
- Sarangani Energy Corporation, Philippines
- Indian Oil Corporation Limited
- Coal and Oil Company - UAE
- The Treasury - Australian Government
- Essar Steel Hazira Ltd - India
- Globalindo Alam Lestari - Indonesia
- SMC Global Power, Philippines
- Attock Cement Pakistan Limited
- Goldman Sachs - Singapore
- Bangladesh Power Developement Board
- MS Steel International - UAE
- Karbindo Abesyapradhi - Indoneisa
- PNOC Exploration Corporation - Philippines
- Gujarat Mineral Development Corp Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Electricity Generating Authority of Thailand
- Planning Commission, India
- CIMB Investment Bank - Malaysia
- Ministry of Mines - Canada
- Ministry of Transport, Egypt
- Bukit Baiduri Energy - Indonesia
- ASAPP Information Group - India
- PetroVietnam Power Coal Import and Supply Company
- Bhoruka Overseas - Indonesia
- Kaltim Prima Coal - Indonesia
- Tata Chemicals Ltd - India
- Malabar Cements Ltd - India
- Global Business Power Corporation, Philippines
- Borneo Indobara - Indonesia
- Africa Commodities Group - South Africa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mjunction Services Limited - India
- Larsen & Toubro Limited - India
- Heidelberg Cement - Germany
- Sojitz Corporation - Japan
- Thiess Contractors Indonesia
- New Zealand Coal & Carbon
- Coalindo Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Kumho Petrochemical, South Korea
- TeaM Sual Corporation - Philippines
- Pendopo Energi Batubara - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Formosa Plastics Group - Taiwan
- Jaiprakash Power Ventures ltd
- Vijayanagar Sugar Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Barasentosa Lestari - Indonesia
- Indian Energy Exchange, India
- GVK Power & Infra Limited - India
- Bulk Trading Sa - Switzerland
- Oldendorff Carriers - Singapore
- Bukit Makmur.PT - Indonesia
- Coastal Gujarat Power Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Indonesian Coal Mining Association
- Agrawal Coal Company - India
- Petrochimia International Co. Ltd.- Taiwan
- Singapore Mercantile Exchange
- Merrill Lynch Commodities Europe
- Cement Manufacturers Association - India
- White Energy Company Limited
- PowerSource Philippines DevCo
- Jorong Barutama Greston.PT - Indonesia
- Energy Development Corp, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Directorate General of MIneral and Coal - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Australian Coal Association
- Vizag Seaport Private Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Carbofer General Trading SA - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Semirara Mining Corp, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Karaikal Port Pvt Ltd - India
- Indika Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Sindya Power Generating Company Private Ltd
- Kohat Cement Company Ltd. - Pakistan
- Kepco SPC Power Corporation, Philippines
- Videocon Industries ltd - India
- Sical Logistics Limited - India
- Straits Asia Resources Limited - Singapore
- Manunggal Multi Energi - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Toyota Tsusho Corporation, Japan
- Deloitte Consulting - India
- Therma Luzon, Inc, Philippines
- Ambuja Cements Ltd - India
- Salva Resources Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Australian Commodity Traders Exchange
- GAC Shipping (India) Pvt Ltd
- Ceylon Electricity Board - Sri Lanka
- SMG Consultants - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Jindal Steel & Power Ltd - India
- VISA Power Limited - India
- Bhatia International Limited - India
- Kartika Selabumi Mining - Indonesia
- Savvy Resources Ltd - HongKong
- Simpson Spence & Young - Indonesia
- Kobexindo Tractors - Indoneisa
- Renaissance Capital - South Africa
- Bharathi Cement Corporation - India
- Bayan Resources Tbk. - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Edison Trading Spa - Italy
- Eastern Coal Council - USA
- Orica Australia Pty. Ltd.
- Meenaskhi Energy Private Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- IEA Clean Coal Centre - UK
- Timah Investasi Mineral - Indoneisa
- Alfred C Toepfer International GmbH - Germany
- Grasim Industreis Ltd - India
- Bhushan Steel Limited - India
- Marubeni Corporation - India
- India Bulls Power Limited - India
- Baramulti Group, Indonesia
- Gujarat Electricity Regulatory Commission - India
- Chamber of Mines of South Africa
- Thai Mozambique Logistica
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PTC India Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Meralco Power Generation, Philippines
- European Bulk Services B.V. - Netherlands
- Uttam Galva Steels Limited - India
- Romanian Commodities Exchange
- TNB Fuel Sdn Bhd - Malaysia
- Ministry of Finance - Indonesia
- Wilmar Investment Holdings
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