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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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Friday, 01 November 13
DRY BULK MARKET IN FIRST POSITIVE SIGN IN DAYS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Owners of dry bulk carriers are well aware of the rollercoaster ride that has been the market for their vessels over the past few years. This trend ...
Thursday, 31 October 13
HANDY: ACTIVE; PANAMAX: QUIET; CAPESIZE: NO LIGHT
Handy
The handy market had an active week however not directly translated into the rates we´ve seen in the Pacific. We see more coal and baux ...
Wednesday, 30 October 13
INDONESIAN STATE OWNED COAL MINER HAS EXPORTED 7.02 MILLION TONS OF COAL IN 9 MONTHS
COALspot.com : PT. Bukit Asam, Indonesian state owned coal miner has sold 13.24 million tons of coal for the period January - September 2013. Accord ...
Wednesday, 30 October 13
DRY BULK MARKET HAS LOST FURTHER GROUND THIS PAST WEEK - INTERMODAL
Chartering (Wet: Firm+ / Dry: Stable-)
The Dry Bulk market has lost further ground this past week, as de-creased activity in both basins for both C ...
Wednesday, 30 October 13
CAPESIZE: DOWNWARD; SUPRAS AND HANDIES: STABLE - INTERMODAL
The Dry Bulk market has resumed its downward movement, noting another dip for a third week in a row. The larger size segments were responsible for p ...
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- Oldendorff Carriers - Singapore
- London Commodity Brokers - England
- Posco Energy - South Korea
- Manunggal Multi Energi - Indonesia
- San Jose City I Power Corp, Philippines
- Central Electricity Authority - India
- Salva Resources Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Merrill Lynch Commodities Europe
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Anglo American - United Kingdom
- Minerals Council of Australia
- Kohat Cement Company Ltd. - Pakistan
- Sakthi Sugars Limited - India
- Kartika Selabumi Mining - Indonesia
- TeaM Sual Corporation - Philippines
- Power Finance Corporation Ltd., India
- Vizag Seaport Private Limited - India
- The State Trading Corporation of India Ltd
- Kalimantan Lumbung Energi - Indonesia
- Romanian Commodities Exchange
- Essar Steel Hazira Ltd - India
- Interocean Group of Companies - India
- SMG Consultants - Indonesia
- Formosa Plastics Group - Taiwan
- Eastern Energy - Thailand
- Simpson Spence & Young - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Georgia Ports Authority, United States
- Binh Thuan Hamico - Vietnam
- Lanco Infratech Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Holcim Trading Pte Ltd - Singapore
- ASAPP Information Group - India
- Sojitz Corporation - Japan
- Madhucon Powers Ltd - India
- Kumho Petrochemical, South Korea
- Sical Logistics Limited - India
- Ministry of Transport, Egypt
- Therma Luzon, Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- PNOC Exploration Corporation - Philippines
- Renaissance Capital - South Africa
- Globalindo Alam Lestari - Indonesia
- VISA Power Limited - India
- Aditya Birla Group - India
- Thiess Contractors Indonesia
- Energy Development Corp, Philippines
- Bulk Trading Sa - Switzerland
- Marubeni Corporation - India
- Bhushan Steel Limited - India
- Price Waterhouse Coopers - Russia
- Medco Energi Mining Internasional
- Eastern Coal Council - USA
- Orica Mining Services - Indonesia
- Jaiprakash Power Ventures ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Baramulti Group, Indonesia
- Global Business Power Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Central Java Power - Indonesia
- Commonwealth Bank - Australia
- Economic Council, Georgia
- Heidelberg Cement - Germany
- Indian Energy Exchange, India
- Rashtriya Ispat Nigam Limited - India
- Mercator Lines Limited - India
- Thai Mozambique Logistica
- Sinarmas Energy and Mining - Indonesia
- Bhoruka Overseas - Indonesia
- Attock Cement Pakistan Limited
- Straits Asia Resources Limited - Singapore
- Gujarat Mineral Development Corp Ltd - India
- ICICI Bank Limited - India
- Planning Commission, India
- CNBM International Corporation - China
- Intertek Mineral Services - Indonesia
- Jindal Steel & Power Ltd - India
- Antam Resourcindo - Indonesia
- Gujarat Sidhee Cement - India
- Banpu Public Company Limited - Thailand
- Alfred C Toepfer International GmbH - Germany
- Bukit Makmur.PT - Indonesia
- Carbofer General Trading SA - India
- Indo Tambangraya Megah - Indonesia
- Tata Chemicals Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Global Coal Blending Company Limited - Australia
- Semirara Mining and Power Corporation, Philippines
- Ministry of Mines - Canada
- Dalmia Cement Bharat India
- Deloitte Consulting - India
- Makarim & Taira - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Directorate Of Revenue Intelligence - India
- Larsen & Toubro Limited - India
- Bhatia International Limited - India
- Kobexindo Tractors - Indoneisa
- Australian Coal Association
- Kaltim Prima Coal - Indonesia
- Semirara Mining Corp, Philippines
- Electricity Generating Authority of Thailand
- Energy Link Ltd, New Zealand
- Standard Chartered Bank - UAE
- Coal and Oil Company - UAE
- Africa Commodities Group - South Africa
- Chamber of Mines of South Africa
- Malabar Cements Ltd - India
- Xindia Steels Limited - India
- The Treasury - Australian Government
- The University of Queensland
- Neyveli Lignite Corporation Ltd, - India
- Pendopo Energi Batubara - Indonesia
- Uttam Galva Steels Limited - India
- Coastal Gujarat Power Limited - India
- Asmin Koalindo Tuhup - Indonesia
- CIMB Investment Bank - Malaysia
- SN Aboitiz Power Inc, Philippines
- Trasteel International SA, Italy
- Borneo Indobara - Indonesia
- Ministry of Finance - Indonesia
- PowerSource Philippines DevCo
- Savvy Resources Ltd - HongKong
- Bangladesh Power Developement Board
- Indogreen Group - Indonesia
- Karaikal Port Pvt Ltd - India
- Independent Power Producers Association of India
- Wilmar Investment Holdings
- Samtan Co., Ltd - South Korea
- SMC Global Power, Philippines
- Petron Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Tamil Nadu electricity Board
- Latin American Coal - Colombia
- Bharathi Cement Corporation - India
- Toyota Tsusho Corporation, Japan
- Mjunction Services Limited - India
- Ind-Barath Power Infra Limited - India
- Riau Bara Harum - Indonesia
- Leighton Contractors Pty Ltd - Australia
- International Coal Ventures Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Global Green Power PLC Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- European Bulk Services B.V. - Netherlands
- Indonesian Coal Mining Association
- Sree Jayajothi Cements Limited - India
- Sindya Power Generating Company Private Ltd
- Parry Sugars Refinery, India
- White Energy Company Limited
- Kideco Jaya Agung - Indonesia
- Orica Australia Pty. Ltd.
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Wood Mackenzie - Singapore
- MS Steel International - UAE
- Grasim Industreis Ltd - India
- McConnell Dowell - Australia
- Sarangani Energy Corporation, Philippines
- Port Waratah Coal Services - Australia
- Metalloyd Limited - United Kingdom
- Meralco Power Generation, Philippines
- GAC Shipping (India) Pvt Ltd
- Rio Tinto Coal - Australia
- Mercuria Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Parliament of New Zealand
- LBH Netherlands Bv - Netherlands
- Asia Pacific Energy Resources Ventures Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Aboitiz Power Corporation - Philippines
- GMR Energy Limited - India
- Meenaskhi Energy Private Limited - India
- New Zealand Coal & Carbon
- Goldman Sachs - Singapore
- IHS Mccloskey Coal Group - USA
- AsiaOL BioFuels Corp., Philippines
- India Bulls Power Limited - India
- Miang Besar Coal Terminal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Edison Trading Spa - Italy
- Maheswari Brothers Coal Limited - India
- Krishnapatnam Port Company Ltd. - India
- South Luzon Thermal Energy Corporation
- Cement Manufacturers Association - India
- Agrawal Coal Company - India
- Coalindo Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Timah Investasi Mineral - Indoneisa
- PTC India Limited - India
- GVK Power & Infra Limited - India
- Siam City Cement - Thailand
- Vedanta Resources Plc - India
- Ambuja Cements Ltd - India
- Singapore Mercantile Exchange
- Siam City Cement PLC, Thailand
- Electricity Authority, New Zealand
- Gujarat Electricity Regulatory Commission - India
- OPG Power Generation Pvt Ltd - India
- Indika Energy - Indonesia
- Star Paper Mills Limited - India
- Australian Commodity Traders Exchange
- Mintek Dendrill Indonesia
- Ceylon Electricity Board - Sri Lanka
- Altura Mining Limited, Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- IEA Clean Coal Centre - UK
- Iligan Light & Power Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Indian Oil Corporation Limited
- Kapuas Tunggal Persada - Indonesia
- Videocon Industries ltd - India
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