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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, 10 November 13
PANAMAX COAL FREIGHT RATES REMAIN UNDER PRESSURE; SUPRAMAX BIGGEST GAINER - REDDY
COALspot.com: The freight market was up this week with all indices increased except for Panamax index.
The BDI was up by 56 points closing at 158 ...
Friday, 08 November 13
DRY BULK MARKET BOUNCES BACK ON RENEWED DEMAND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market staged a mild comeback this week, as the industry's benchmark, the Baltic Dry Index (BDI) inched forward step by step and bit b ...
Friday, 08 November 13
US'S OCTOBER COAL PRODUCTION INCREASED BY 1.78% M-M - EIA
COALspot.com – United States the world’s second largest coal producer, produced approximately 19.3 million short tons (mmst) of coal in ...
Thursday, 07 November 13
FORMOSA PLASTICS SEEKS 80K MT OF 5850 GAR COAL
COALspot.com: Taiwan's Formosa Plastics Group is inviting bids for 80,000 mt of bituminous coal for delivery in Nov - Dec'13 for its Chi ...
Thursday, 07 November 13
INDONESIAN COAL EXPORT VOLUME INCREASED; REVENUE DECREASED
COALspot.com: Indonesia, the 15th largest economy, 4th largest coal producer in the world and world's largest multi grade coal exporter shipp ...
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- Larsen & Toubro Limited - India
- New Zealand Coal & Carbon
- Vedanta Resources Plc - India
- SMC Global Power, Philippines
- The Treasury - Australian Government
- Essar Steel Hazira Ltd - India
- Georgia Ports Authority, United States
- Bahari Cakrawala Sebuku - Indonesia
- Agrawal Coal Company - India
- India Bulls Power Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Ministry of Finance - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Pendopo Energi Batubara - Indonesia
- Australian Coal Association
- Mintek Dendrill Indonesia
- Kapuas Tunggal Persada - Indonesia
- Siam City Cement - Thailand
- Rashtriya Ispat Nigam Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Chamber of Mines of South Africa
- Independent Power Producers Association of India
- Makarim & Taira - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Parliament of New Zealand
- SMG Consultants - Indonesia
- MS Steel International - UAE
- Manunggal Multi Energi - Indonesia
- GAC Shipping (India) Pvt Ltd
- Renaissance Capital - South Africa
- Chettinad Cement Corporation Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Indogreen Group - Indonesia
- Price Waterhouse Coopers - Russia
- Maharashtra Electricity Regulatory Commission - India
- Karaikal Port Pvt Ltd - India
- Indika Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Indian Oil Corporation Limited
- Merrill Lynch Commodities Europe
- Orica Mining Services - Indonesia
- Indonesian Coal Mining Association
- Mercuria Energy - Indonesia
- Thiess Contractors Indonesia
- Ind-Barath Power Infra Limited - India
- Romanian Commodities Exchange
- Salva Resources Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Sree Jayajothi Cements Limited - India
- Interocean Group of Companies - India
- Thai Mozambique Logistica
- Bukit Makmur.PT - Indonesia
- PNOC Exploration Corporation - Philippines
- Bangladesh Power Developement Board
- LBH Netherlands Bv - Netherlands
- Asmin Koalindo Tuhup - Indonesia
- Bhoruka Overseas - Indonesia
- Ministry of Mines - Canada
- Central Java Power - Indonesia
- International Coal Ventures Pvt Ltd - India
- Economic Council, Georgia
- Kobexindo Tractors - Indoneisa
- SN Aboitiz Power Inc, Philippines
- Grasim Industreis Ltd - India
- Maheswari Brothers Coal Limited - India
- Coastal Gujarat Power Limited - India
- Latin American Coal - Colombia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Medco Energi Mining Internasional
- Neyveli Lignite Corporation Ltd, - India
- Kepco SPC Power Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Sinarmas Energy and Mining - Indonesia
- Electricity Generating Authority of Thailand
- VISA Power Limited - India
- Rio Tinto Coal - Australia
- Energy Link Ltd, New Zealand
- Miang Besar Coal Terminal - Indonesia
- Iligan Light & Power Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Holcim Trading Pte Ltd - Singapore
- IHS Mccloskey Coal Group - USA
- GVK Power & Infra Limited - India
- Port Waratah Coal Services - Australia
- Sojitz Corporation - Japan
- Samtan Co., Ltd - South Korea
- Xindia Steels Limited - India
- Cigading International Bulk Terminal - Indonesia
- Sindya Power Generating Company Private Ltd
- Tata Chemicals Ltd - India
- Coalindo Energy - Indonesia
- Parry Sugars Refinery, India
- Star Paper Mills Limited - India
- CNBM International Corporation - China
- Barasentosa Lestari - Indonesia
- Binh Thuan Hamico - Vietnam
- Heidelberg Cement - Germany
- Kaltim Prima Coal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Timah Investasi Mineral - Indoneisa
- ICICI Bank Limited - India
- Sakthi Sugars Limited - India
- Toyota Tsusho Corporation, Japan
- Billiton Holdings Pty Ltd - Australia
- PowerSource Philippines DevCo
- Goldman Sachs - Singapore
- Energy Development Corp, Philippines
- London Commodity Brokers - England
- Africa Commodities Group - South Africa
- Standard Chartered Bank - UAE
- Eastern Energy - Thailand
- TeaM Sual Corporation - Philippines
- Siam City Cement PLC, Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- OPG Power Generation Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Lanco Infratech Ltd - India
- The State Trading Corporation of India Ltd
- Aboitiz Power Corporation - Philippines
- Directorate Of Revenue Intelligence - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Marubeni Corporation - India
- Deloitte Consulting - India
- Bharathi Cement Corporation - India
- Bukit Asam (Persero) Tbk - Indonesia
- Electricity Authority, New Zealand
- Gujarat Electricity Regulatory Commission - India
- Bhatia International Limited - India
- McConnell Dowell - Australia
- CIMB Investment Bank - Malaysia
- Sical Logistics Limited - India
- Cement Manufacturers Association - India
- Ministry of Transport, Egypt
- Offshore Bulk Terminal Pte Ltd, Singapore
- Gujarat Sidhee Cement - India
- Karbindo Abesyapradhi - Indoneisa
- Kartika Selabumi Mining - Indonesia
- Bhushan Steel Limited - India
- Wood Mackenzie - Singapore
- Central Electricity Authority - India
- Mercator Lines Limited - India
- Tamil Nadu electricity Board
- Posco Energy - South Korea
- Straits Asia Resources Limited - Singapore
- Commonwealth Bank - Australia
- San Jose City I Power Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- European Bulk Services B.V. - Netherlands
- Global Coal Blending Company Limited - Australia
- Videocon Industries ltd - India
- Oldendorff Carriers - Singapore
- Coal and Oil Company - UAE
- Metalloyd Limited - United Kingdom
- Formosa Plastics Group - Taiwan
- Bulk Trading Sa - Switzerland
- Ambuja Cements Ltd - India
- Meralco Power Generation, Philippines
- Global Business Power Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Trasteel International SA, Italy
- Indo Tambangraya Megah - Indonesia
- Madhucon Powers Ltd - India
- Semirara Mining and Power Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Malabar Cements Ltd - India
- Indian Energy Exchange, India
- Kalimantan Lumbung Energi - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Orica Australia Pty. Ltd.
- Kideco Jaya Agung - Indonesia
- Meenaskhi Energy Private Limited - India
- Jindal Steel & Power Ltd - India
- Australian Commodity Traders Exchange
- Jaiprakash Power Ventures ltd
- PTC India Limited - India
- Vizag Seaport Private Limited - India
- Simpson Spence & Young - Indonesia
- Edison Trading Spa - Italy
- Dalmia Cement Bharat India
- Wilmar Investment Holdings
- IEA Clean Coal Centre - UK
- Kumho Petrochemical, South Korea
- Carbofer General Trading SA - India
- Altura Mining Limited, Indonesia
- Aditya Birla Group - India
- Baramulti Group, Indonesia
- Intertek Mineral Services - Indonesia
- Ceylon Electricity Board - Sri Lanka
- ASAPP Information Group - India
- Singapore Mercantile Exchange
- Therma Luzon, Inc, Philippines
- Planning Commission, India
- Bukit Baiduri Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Semirara Mining Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Banpu Public Company Limited - Thailand
- Minerals Council of Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- The University of Queensland
- Attock Cement Pakistan Limited
- Anglo American - United Kingdom
- Mjunction Services Limited - India
- Eastern Coal Council - USA
- South Luzon Thermal Energy Corporation
- Petron Corporation, Philippines
- Borneo Indobara - Indonesia
- GMR Energy Limited - India
- Savvy Resources Ltd - HongKong
- Bank of Tokyo Mitsubishi UFJ Ltd
- Riau Bara Harum - Indonesia
- Antam Resourcindo - Indonesia
- White Energy Company Limited
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