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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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Thursday, 07 November 13
THE ENERGY INDUSTRY'S RISING WATER CHALLENGE - WOOD MACKENZIE
Water poses a variety of business risks for the energy industry, and could play an influential role in shaping the future energy supply mix, accordi ...
Thursday, 07 November 13
HANDY : INDO/CHINA ROUNDS ARE SEEING BIDS AT AROUND $16K
Handy
In the Atlantic we have seen more activity this week with several fixtures being concluded at firm rates. USG/Feast been reported at 30k and ...
Wednesday, 06 November 13
THE BIGGER SIZE SEGMENTS LOST GROUND WHILE SUPRAS AND HANDIES HELD ON TO THEIR GAINS - INTERMODAL
Chartering (Wet: Stable+ / Dry: Stable- )
A mirror image of the week prior for the Dry Bulk market, as once more the bigger size segments los ...
Wednesday, 06 November 13
WILL NEW ORDERS DRIVE THE MARKET DOWN AGAIN ONCE DELIVERIES COMMENCE
"While there are many concerns on whether the new orders will drive the market down again once deliveries commence, the second half of 2013 has ...
Tuesday, 05 November 13
AUSTRALIA'S NEWCASTLE PORT SEES DROP IN COAL EXPORTS W-W
COALspot.com: In the week ended November 4, Power plant and semi-soft coking coal shipments from the port of Newcastle in Queensland, totaled 2.77 m ...
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- Australian Commodity Traders Exchange
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- McConnell Dowell - Australia
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- Independent Power Producers Association of India
- London Commodity Brokers - England
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- Electricity Authority, New Zealand
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- CNBM International Corporation - China
- Star Paper Mills Limited - India
- Semirara Mining Corp, Philippines
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- Alfred C Toepfer International GmbH - Germany
- Energy Link Ltd, New Zealand
- Australian Coal Association
- Mintek Dendrill Indonesia
- Bhatia International Limited - India
- Vedanta Resources Plc - India
- Globalindo Alam Lestari - Indonesia
- Chamber of Mines of South Africa
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- Energy Development Corp, Philippines
- Essar Steel Hazira Ltd - India
- International Coal Ventures Pvt Ltd - India
- Bangladesh Power Developement Board
- Barasentosa Lestari - Indonesia
- Binh Thuan Hamico - Vietnam
- Directorate Of Revenue Intelligence - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bhoruka Overseas - Indonesia
- Iligan Light & Power Inc, Philippines
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- Merrill Lynch Commodities Europe
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- Coal and Oil Company - UAE
- Bulk Trading Sa - Switzerland
- Goldman Sachs - Singapore
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- CIMB Investment Bank - Malaysia
- Toyota Tsusho Corporation, Japan
- Mercuria Energy - Indonesia
- Thiess Contractors Indonesia
- Metalloyd Limited - United Kingdom
- Indian Energy Exchange, India
- Siam City Cement PLC, Thailand
- Billiton Holdings Pty Ltd - Australia
- Kideco Jaya Agung - Indonesia
- Uttam Galva Steels Limited - India
- Formosa Plastics Group - Taiwan
- Singapore Mercantile Exchange
- Sarangani Energy Corporation, Philippines
- Africa Commodities Group - South Africa
- The State Trading Corporation of India Ltd
- Sinarmas Energy and Mining - Indonesia
- Commonwealth Bank - Australia
- Central Java Power - Indonesia
- India Bulls Power Limited - India
- Samtan Co., Ltd - South Korea
- Oldendorff Carriers - Singapore
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- Indonesian Coal Mining Association
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- GMR Energy Limited - India
- Bayan Resources Tbk. - Indonesia
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- LBH Netherlands Bv - Netherlands
- Edison Trading Spa - Italy
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- Savvy Resources Ltd - HongKong
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Straits Asia Resources Limited - Singapore
- The Treasury - Australian Government
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- Trasteel International SA, Italy
- Baramulti Group, Indonesia
- Kapuas Tunggal Persada - Indonesia
- Kobexindo Tractors - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
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- SMG Consultants - Indonesia
- Tamil Nadu electricity Board
- Georgia Ports Authority, United States
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- Malabar Cements Ltd - India
- Meenaskhi Energy Private Limited - India
- ASAPP Information Group - India
- Standard Chartered Bank - UAE
- Global Coal Blending Company Limited - Australia
- Indika Energy - Indonesia
- Economic Council, Georgia
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- Vizag Seaport Private Limited - India
- Intertek Mineral Services - Indonesia
- Salva Resources Pvt Ltd - India
- Mjunction Services Limited - India
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- TeaM Sual Corporation - Philippines
- Makarim & Taira - Indonesia
- Ambuja Cements Ltd - India
- Attock Cement Pakistan Limited
- Bukit Makmur.PT - Indonesia
- Romanian Commodities Exchange
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- Deloitte Consulting - India
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- Meralco Power Generation, Philippines
- Banpu Public Company Limited - Thailand
- Miang Besar Coal Terminal - Indonesia
- Ministry of Transport, Egypt
- Cement Manufacturers Association - India
- Grasim Industreis Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- GAC Shipping (India) Pvt Ltd
- Thai Mozambique Logistica
- Petron Corporation, Philippines
- Indian Oil Corporation Limited
- Simpson Spence & Young - Indonesia
- Tata Chemicals Ltd - India
- Holcim Trading Pte Ltd - Singapore
- New Zealand Coal & Carbon
- Timah Investasi Mineral - Indoneisa
- White Energy Company Limited
- IHS Mccloskey Coal Group - USA
- Bahari Cakrawala Sebuku - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Planning Commission, India
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