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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, 13 November 13
Q3' 14 CFR SOUTH CHINA COAL SWAPS CLOSED HIGHER THAN Q1' 14 PRICES
COALspot.com : API 8 CFR South China Coal swaps for average Q1 14 delivery gained 0.55 percept W-W on Friday 8 November 2013. The CFR South China Co ...
Wednesday, 13 November 13
THE SOFTENING HAS AFFECTED THE BIGGER SIZE SEGMENTS; SMALLER ONES STILL APPEAR TO BE VERY STABLE - INTERMODAL
After a month and a half of back to back weekly declines, the dry bulk market has finally reversed its negative course. We believe that there should ...
Wednesday, 13 November 13
DRY BULK MARKET HAS REVERSED ITS NEGATIVE COURSE - INTERMODAL
Chartering (Wet: Firm+ / Dry: Stable+ )
The Dry Bulk market has reversed its negative course this past week with rates for Capes making up fo ...
Wednesday, 13 November 13
NEWCASTLE COAL EXPORTS PLUNGE 12.40% IN W/E 10 NOVEMBER FROM THE PRIOR WEEK
COALspot.com: In the week ended November 11, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensland, totaled 2.42 ...
Monday, 11 November 13
TAMIL NADU STATE OWNED POWER GENERATOR TO IMPORT 3.7 MMT OF 6000 GAD COAL
COALspot.com - TANGEDCO, Tamil Nadu Generation & Distribution Corporation Ltd, Tamil Nadu state owned power generator & distributor intends ...
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- Kapuas Tunggal Persada - Indonesia
- Electricity Generating Authority of Thailand
- AsiaOL BioFuels Corp., Philippines
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- Samtan Co., Ltd - South Korea
- Bayan Resources Tbk. - Indonesia
- Altura Mining Limited, Indonesia
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- Kartika Selabumi Mining - Indonesia
- Savvy Resources Ltd - HongKong
- Binh Thuan Hamico - Vietnam
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- London Commodity Brokers - England
- Merrill Lynch Commodities Europe
- Latin American Coal - Colombia
- PetroVietnam Power Coal Import and Supply Company
- Heidelberg Cement - Germany
- ASAPP Information Group - India
- Antam Resourcindo - Indonesia
- Ministry of Transport, Egypt
- Energy Link Ltd, New Zealand
- Wilmar Investment Holdings
- Africa Commodities Group - South Africa
- Minerals Council of Australia
- Kideco Jaya Agung - Indonesia
- Bulk Trading Sa - Switzerland
- Chamber of Mines of South Africa
- Georgia Ports Authority, United States
- Meenaskhi Energy Private Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Videocon Industries ltd - India
- Parliament of New Zealand
- Manunggal Multi Energi - Indonesia
- Ambuja Cements Ltd - India
- Indika Energy - Indonesia
- Cement Manufacturers Association - India
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- Carbofer General Trading SA - India
- Ministry of Finance - Indonesia
- Bangladesh Power Developement Board
- Global Green Power PLC Corporation, Philippines
- Siam City Cement PLC, Thailand
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- CIMB Investment Bank - Malaysia
- Kumho Petrochemical, South Korea
- CNBM International Corporation - China
- Miang Besar Coal Terminal - Indonesia
- Banpu Public Company Limited - Thailand
- Star Paper Mills Limited - India
- PowerSource Philippines DevCo
- Sree Jayajothi Cements Limited - India
- Eastern Coal Council - USA
- SN Aboitiz Power Inc, Philippines
- Straits Asia Resources Limited - Singapore
- European Bulk Services B.V. - Netherlands
- Pendopo Energi Batubara - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Standard Chartered Bank - UAE
- GVK Power & Infra Limited - India
- Edison Trading Spa - Italy
- Posco Energy - South Korea
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Global Coal Blending Company Limited - Australia
- Essar Steel Hazira Ltd - India
- Sindya Power Generating Company Private Ltd
- The State Trading Corporation of India Ltd
- Price Waterhouse Coopers - Russia
- White Energy Company Limited
- Indo Tambangraya Megah - Indonesia
- GMR Energy Limited - India
- Coal and Oil Company - UAE
- Bhushan Steel Limited - India
- Alfred C Toepfer International GmbH - Germany
- Central Electricity Authority - India
- Electricity Authority, New Zealand
- IHS Mccloskey Coal Group - USA
- San Jose City I Power Corp, Philippines
- International Coal Ventures Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Krishnapatnam Port Company Ltd. - India
- Globalindo Alam Lestari - Indonesia
- Sojitz Corporation - Japan
- Sarangani Energy Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Bukit Asam (Persero) Tbk - Indonesia
- Coalindo Energy - Indonesia
- Energy Development Corp, Philippines
- McConnell Dowell - Australia
- Aboitiz Power Corporation - Philippines
- Planning Commission, India
- Toyota Tsusho Corporation, Japan
- Bukit Baiduri Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Sical Logistics Limited - India
- Ceylon Electricity Board - Sri Lanka
- LBH Netherlands Bv - Netherlands
- Coastal Gujarat Power Limited - India
- Leighton Contractors Pty Ltd - Australia
- Parry Sugars Refinery, India
- Directorate Of Revenue Intelligence - India
- Kepco SPC Power Corporation, Philippines
- Bhatia International Limited - India
- Attock Cement Pakistan Limited
- ICICI Bank Limited - India
- Australian Coal Association
- Singapore Mercantile Exchange
- Vijayanagar Sugar Pvt Ltd - India
- Wood Mackenzie - Singapore
- The University of Queensland
- Karaikal Port Pvt Ltd - India
- MS Steel International - UAE
- Grasim Industreis Ltd - India
- Power Finance Corporation Ltd., India
- Indonesian Coal Mining Association
- Dalmia Cement Bharat India
- Commonwealth Bank - Australia
- Billiton Holdings Pty Ltd - Australia
- Metalloyd Limited - United Kingdom
- Bhoruka Overseas - Indonesia
- OPG Power Generation Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- South Luzon Thermal Energy Corporation
- Indian Energy Exchange, India
- Vedanta Resources Plc - India
- Mjunction Services Limited - India
- Mintek Dendrill Indonesia
- IEA Clean Coal Centre - UK
- Indian Oil Corporation Limited
- Goldman Sachs - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Tamil Nadu electricity Board
- Offshore Bulk Terminal Pte Ltd, Singapore
- Deloitte Consulting - India
- Thai Mozambique Logistica
- Simpson Spence & Young - Indonesia
- Bharathi Cement Corporation - India
- Interocean Group of Companies - India
- Trasteel International SA, Italy
- Jorong Barutama Greston.PT - Indonesia
- Oldendorff Carriers - Singapore
- The Treasury - Australian Government
- Formosa Plastics Group - Taiwan
- Mercuria Energy - Indonesia
- Makarim & Taira - Indonesia
- Riau Bara Harum - Indonesia
- Central Java Power - Indonesia
- Malabar Cements Ltd - India
- Therma Luzon, Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Barasentosa Lestari - Indonesia
- Petron Corporation, Philippines
- Anglo American - United Kingdom
- Bukit Makmur.PT - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Rio Tinto Coal - Australia
- Karbindo Abesyapradhi - Indoneisa
- Semirara Mining Corp, Philippines
- PNOC Exploration Corporation - Philippines
- Iligan Light & Power Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- Thiess Contractors Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Medco Energi Mining Internasional
- Xindia Steels Limited - India
- Indogreen Group - Indonesia
- Economic Council, Georgia
- Lanco Infratech Ltd - India
- Jindal Steel & Power Ltd - India
- Global Business Power Corporation, Philippines
- Orica Mining Services - Indonesia
- Independent Power Producers Association of India
- Mercator Lines Limited - India
- Sinarmas Energy and Mining - Indonesia
- Ind-Barath Power Infra Limited - India
- Baramulti Group, Indonesia
- Madhucon Powers Ltd - India
- Borneo Indobara - Indonesia
- Sakthi Sugars Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kaltim Prima Coal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Maharashtra Electricity Regulatory Commission - India
- Timah Investasi Mineral - Indoneisa
- Romanian Commodities Exchange
- PTC India Limited - India
- GAC Shipping (India) Pvt Ltd
- Orica Australia Pty. Ltd.
- Neyveli Lignite Corporation Ltd, - India
- Australian Commodity Traders Exchange
- SMG Consultants - Indonesia
- Agrawal Coal Company - India
- Siam City Cement - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Tata Chemicals Ltd - India
- Port Waratah Coal Services - Australia
- Renaissance Capital - South Africa
- VISA Power Limited - India
- Marubeni Corporation - India
- Ministry of Mines - Canada
- Asmin Koalindo Tuhup - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Meralco Power Generation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- TeaM Sual Corporation - Philippines
- Gujarat Electricity Regulatory Commission - India
- Uttam Galva Steels Limited - India
- SMC Global Power, Philippines
- Larsen & Toubro Limited - India
- Gujarat Sidhee Cement - India
- India Bulls Power Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Eastern Energy - Thailand
- New Zealand Coal & Carbon
- Kobexindo Tractors - Indoneisa
- Intertek Mineral Services - Indonesia
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