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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, 13 October 13
API 8 CFR SOUTH CHINA COAL - AVERAGE Q4 2013 DELIVERY FELL 0.30 PERCEPT ON WEEK
COALspot.com : API 8 CFR South China Coal swaps for average Q4 2013 delivery fell 0.30 percept week on week on Friday 11 October 2013. The CFR South ...
Saturday, 12 October 13
PANAMAX: OWNERS ARE AT US$ 17-18.5K PER DAY; CHARTERERS ARE AT US$ 15.5-16K - CAPT. REDDY
COALspot.com - The futures market was heavily down on the cape size vessels and the physical average charterer rates on cape size vessels dropped by ...
Friday, 11 October 13
DRY BULK FREIGHT RATE POSITIVE MOMENTUM TO BE SUPPORTED BY HIGHER DEMAND SAYS BIMCO - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
BIMCO released its latest short term research on the shipping markets, estimating that the elevated level of Capesize TC average rates i ...
Friday, 11 October 13
US COAL PRODUCTION FALLS 7.70% IN SEPTEMBER
COALspot.com – United States the world’s second largest coal producer produced approximately 17.70 million short tons (mmst) of coal in ...
Thursday, 10 October 13
NPC AUSTRALIA SHIPPED 2.99 MILLION TONS OF COAL W-O-W
COALspot.com: Power plant and semi-soft coking coal shipments from Australia's Newcastle port up 12.04 per cent week on week to 2.99 million mt for ...
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- South Luzon Thermal Energy Corporation
- Bukit Makmur.PT - Indonesia
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- Thai Mozambique Logistica
- OPG Power Generation Pvt Ltd - India
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- Commonwealth Bank - Australia
- The University of Queensland
- Africa Commodities Group - South Africa
- Binh Thuan Hamico - Vietnam
- Economic Council, Georgia
- Altura Mining Limited, Indonesia
- Larsen & Toubro Limited - India
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- Anglo American - United Kingdom
- Petron Corporation, Philippines
- Parry Sugars Refinery, India
- AsiaOL BioFuels Corp., Philippines
- Vizag Seaport Private Limited - India
- Indonesian Coal Mining Association
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- Jaiprakash Power Ventures ltd
- Indo Tambangraya Megah - Indonesia
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- Star Paper Mills Limited - India
- Pendopo Energi Batubara - Indonesia
- Lanco Infratech Ltd - India
- Eastern Energy - Thailand
- Leighton Contractors Pty Ltd - Australia
- Indian Oil Corporation Limited
- Planning Commission, India
- Sojitz Corporation - Japan
- Electricity Authority, New Zealand
- Aboitiz Power Corporation - Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Central Electricity Authority - India
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- GN Power Mariveles Coal Plant, Philippines
- Global Green Power PLC Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Cement Manufacturers Association - India
- London Commodity Brokers - England
- Rio Tinto Coal - Australia
- Goldman Sachs - Singapore
- Wood Mackenzie - Singapore
- Jindal Steel & Power Ltd - India
- Independent Power Producers Association of India
- Romanian Commodities Exchange
- Salva Resources Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Singapore Mercantile Exchange
- Kapuas Tunggal Persada - Indonesia
- Bangladesh Power Developement Board
- Karbindo Abesyapradhi - Indoneisa
- Tamil Nadu electricity Board
- Ambuja Cements Ltd - India
- Bharathi Cement Corporation - India
- Georgia Ports Authority, United States
- VISA Power Limited - India
- Cigading International Bulk Terminal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Mercator Lines Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Attock Cement Pakistan Limited
- Kideco Jaya Agung - Indonesia
- Price Waterhouse Coopers - Russia
- Bukit Baiduri Energy - Indonesia
- Baramulti Group, Indonesia
- Essar Steel Hazira Ltd - India
- The Treasury - Australian Government
- Standard Chartered Bank - UAE
- Coal and Oil Company - UAE
- Metalloyd Limited - United Kingdom
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sarangani Energy Corporation, Philippines
- Riau Bara Harum - Indonesia
- Maheswari Brothers Coal Limited - India
- Indogreen Group - Indonesia
- McConnell Dowell - Australia
- Karaikal Port Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Electricity Generating Authority of Thailand
- Bhatia International Limited - India
- Minerals Council of Australia
- Global Business Power Corporation, Philippines
- Thiess Contractors Indonesia
- SN Aboitiz Power Inc, Philippines
- Videocon Industries ltd - India
- Simpson Spence & Young - Indonesia
- Ministry of Transport, Egypt
- Malabar Cements Ltd - India
- Kepco SPC Power Corporation, Philippines
- Agrawal Coal Company - India
- CNBM International Corporation - China
- Xindia Steels Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Antam Resourcindo - Indonesia
- Australian Coal Association
- Siam City Cement PLC, Thailand
- India Bulls Power Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Intertek Mineral Services - Indonesia
- SMG Consultants - Indonesia
- Merrill Lynch Commodities Europe
- Siam City Cement - Thailand
- PTC India Limited - India
- Mintek Dendrill Indonesia
- Latin American Coal - Colombia
- Billiton Holdings Pty Ltd - Australia
- Interocean Group of Companies - India
- Power Finance Corporation Ltd., India
- Ministry of Mines - Canada
- Kalimantan Lumbung Energi - Indonesia
- Parliament of New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Krishnapatnam Port Company Ltd. - India
- Miang Besar Coal Terminal - Indonesia
- Manunggal Multi Energi - Indonesia
- PNOC Exploration Corporation - Philippines
- Barasentosa Lestari - Indonesia
- Aditya Birla Group - India
- CIMB Investment Bank - Malaysia
- Medco Energi Mining Internasional
- Gujarat Electricity Regulatory Commission - India
- Sical Logistics Limited - India
- Wilmar Investment Holdings
- Meenaskhi Energy Private Limited - India
- ICICI Bank Limited - India
- Chettinad Cement Corporation Ltd - India
- Coastal Gujarat Power Limited - India
- PetroVietnam Power Coal Import and Supply Company
- White Energy Company Limited
- Kumho Petrochemical, South Korea
- Gujarat Sidhee Cement - India
- Kohat Cement Company Ltd. - Pakistan
- Marubeni Corporation - India
- Bayan Resources Tbk. - Indonesia
- Mercuria Energy - Indonesia
- SMC Global Power, Philippines
- Toyota Tsusho Corporation, Japan
- Bahari Cakrawala Sebuku - Indonesia
- Madhucon Powers Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Straits Asia Resources Limited - Singapore
- Global Coal Blending Company Limited - Australia
- Banpu Public Company Limited - Thailand
- IEA Clean Coal Centre - UK
- The State Trading Corporation of India Ltd
- Maharashtra Electricity Regulatory Commission - India
- Orica Australia Pty. Ltd.
- Bulk Trading Sa - Switzerland
- Borneo Indobara - Indonesia
- Formosa Plastics Group - Taiwan
- Ministry of Finance - Indonesia
- Grasim Industreis Ltd - India
- PowerSource Philippines DevCo
- Holcim Trading Pte Ltd - Singapore
- Samtan Co., Ltd - South Korea
- Oldendorff Carriers - Singapore
- Uttam Galva Steels Limited - India
- Edison Trading Spa - Italy
- Dalmia Cement Bharat India
- Iligan Light & Power Inc, Philippines
- Kobexindo Tractors - Indoneisa
- GVK Power & Infra Limited - India
- Chamber of Mines of South Africa
- Semirara Mining and Power Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- New Zealand Coal & Carbon
- Energy Development Corp, Philippines
- GAC Shipping (India) Pvt Ltd
- Directorate Of Revenue Intelligence - India
- LBH Netherlands Bv - Netherlands
- ASAPP Information Group - India
- Sinarmas Energy and Mining - Indonesia
- Renaissance Capital - South Africa
- Semirara Mining Corp, Philippines
- Ceylon Electricity Board - Sri Lanka
- International Coal Ventures Pvt Ltd - India
- Posco Energy - South Korea
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GMR Energy Limited - India
- Globalindo Alam Lestari - Indonesia
- Orica Mining Services - Indonesia
- Central Java Power - Indonesia
- Sakthi Sugars Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Australian Commodity Traders Exchange
- MS Steel International - UAE
- Mjunction Services Limited - India
- Indian Energy Exchange, India
- Carbofer General Trading SA - India
- Heidelberg Cement - Germany
- Coalindo Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Therma Luzon, Inc, Philippines
- IHS Mccloskey Coal Group - USA
- Indika Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Energy Link Ltd, New Zealand
- Vedanta Resources Plc - India
- Bhushan Steel Limited - India
- Kaltim Prima Coal - Indonesia
- San Jose City I Power Corp, Philippines
- European Bulk Services B.V. - Netherlands
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Eastern Coal Council - USA
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