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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, 15 October 13
CHINA COAL IMPORTS TO KEEP GROWING IN THE YEARS TO COME, ALBEIT AT A SLOWER RATE - EVA TZIMA / NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
In its latest monthly report, shipbroker Intermodal highlighted the growing role of coal in the energy mix. According to Intermodal's research anal ...
Tuesday, 15 October 13
NEWCASTLE PORT SHIPPED 6.50% MORE COAL W-O-W
COALspot.com: Power plant and semi-soft coking coal shipments from Australia's Newcastle port up 6.50 per cent week on week to 3.19 million mt for ...
Monday, 14 October 13
MEMR OF INDONESIA SETS THE COAL'S SPOT PRICE AT US$ 76.61 FOR OCT'13 DELIVERY
COALspot. com - The Indonesian government has revised down government declared coal bench mark price by US$ 0.28/ MT to US$ 76.61 for October 2013 d ...
Monday, 14 October 13
CARBON POLICIES UNLIKELY TO PREVENT A COAL-FUELLED WORLD - WOOD MACKENZIE
China will propel coal growth but US, Europe and Asia will sustain global demand.
At the World Energy Congress (WEC) today Wood Mackenzie's Pres ...
Sunday, 13 October 13
Q4'13 DELIVERY SUB-BIT INDO COAL SWAP FALLS SEVEN STRAIGHT WEEK
COALspot.com – Sub-Bit Indonesia coal swap (FOB ) for average Q4 2013 delivery fell 1.72 percept month on month on Friday 11 October 201 ...
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- Alfred C Toepfer International GmbH - Germany
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- Australian Coal Association
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- SMC Global Power, Philippines
- IHS Mccloskey Coal Group - USA
- Kideco Jaya Agung - Indonesia
- Samtan Co., Ltd - South Korea
- Medco Energi Mining Internasional
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- Bhushan Steel Limited - India
- Leighton Contractors Pty Ltd - Australia
- Economic Council, Georgia
- European Bulk Services B.V. - Netherlands
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- India Bulls Power Limited - India
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- ICICI Bank Limited - India
- SMG Consultants - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Goldman Sachs - Singapore
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- Asmin Koalindo Tuhup - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Australian Commodity Traders Exchange
- Therma Luzon, Inc, Philippines
- Directorate Of Revenue Intelligence - India
- International Coal Ventures Pvt Ltd - India
- Ministry of Transport, Egypt
- Maharashtra Electricity Regulatory Commission - India
- Ministry of Mines - Canada
- The University of Queensland
- Kohat Cement Company Ltd. - Pakistan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indika Energy - Indonesia
- Videocon Industries ltd - India
- Wood Mackenzie - Singapore
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- Tata Chemicals Ltd - India
- Thiess Contractors Indonesia
- Price Waterhouse Coopers - Russia
- Coalindo Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Chettinad Cement Corporation Ltd - India
- Banpu Public Company Limited - Thailand
- ASAPP Information Group - India
- Port Waratah Coal Services - Australia
- Cigading International Bulk Terminal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Trasteel International SA, Italy
- GN Power Mariveles Coal Plant, Philippines
- MS Steel International - UAE
- GVK Power & Infra Limited - India
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- TNB Fuel Sdn Bhd - Malaysia
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- Bulk Trading Sa - Switzerland
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- Ceylon Electricity Board - Sri Lanka
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- Standard Chartered Bank - UAE
- Directorate General of MIneral and Coal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sinarmas Energy and Mining - Indonesia
- Orica Mining Services - Indonesia
- Minerals Council of Australia
- Kepco SPC Power Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- PTC India Limited - India
- Africa Commodities Group - South Africa
- The Treasury - Australian Government
- Attock Cement Pakistan Limited
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- Vizag Seaport Private Limited - India
- Sarangani Energy Corporation, Philippines
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- Edison Trading Spa - Italy
- Toyota Tsusho Corporation, Japan
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- Eastern Coal Council - USA
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- Uttam Galva Steels Limited - India
- Rio Tinto Coal - Australia
- Energy Link Ltd, New Zealand
- Kapuas Tunggal Persada - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Kumho Petrochemical, South Korea
- PowerSource Philippines DevCo
- Eastern Energy - Thailand
- GMR Energy Limited - India
- The State Trading Corporation of India Ltd
- Bukit Baiduri Energy - Indonesia
- Posco Energy - South Korea
- Bharathi Cement Corporation - India
- LBH Netherlands Bv - Netherlands
- Altura Mining Limited, Indonesia
- Ministry of Finance - Indonesia
- Dalmia Cement Bharat India
- SN Aboitiz Power Inc, Philippines
- Simpson Spence & Young - Indonesia
- CIMB Investment Bank - Malaysia
- Semirara Mining Corp, Philippines
- Mercator Lines Limited - India
- AsiaOL BioFuels Corp., Philippines
- London Commodity Brokers - England
- Manunggal Multi Energi - Indonesia
- Global Green Power PLC Corporation, Philippines
- Riau Bara Harum - Indonesia
- Chamber of Mines of South Africa
- Bukit Makmur.PT - Indonesia
- Gujarat Sidhee Cement - India
- Bank of Tokyo Mitsubishi UFJ Ltd
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- Kartika Selabumi Mining - Indonesia
- Coastal Gujarat Power Limited - India
- Holcim Trading Pte Ltd - Singapore
- Indonesian Coal Mining Association
- Indian Oil Corporation Limited
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- Tamil Nadu electricity Board
- Global Coal Blending Company Limited - Australia
- Energy Development Corp, Philippines
- Sindya Power Generating Company Private Ltd
- Intertek Mineral Services - Indonesia
- Lanco Infratech Ltd - India
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