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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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Wednesday, 02 October 13
HOW LONG WILL THIS LATEST CAPESIZE RALLY LAST? - TASOS PAPADOPOULOS
By Tasos Papadopoulos, SnP Broker, Intermodal
The surge in iron ore trade has translated into a massive boost in daily earnings for capes; with t ...
Tuesday, 01 October 13
DRY BULK MARKET POISED FOR RETREAT ON CHINA HOLIDAY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The start of a national weeklong in China as of Tuesday is expected to put a lid in the latest rally of the dry bulk freight market, as has always b ...
Monday, 30 September 13
NEWCASTLE'S COAL EXPORT VOLUME CONTINUES TO SLIP
COALspot.com: Power plant and semi-soft coking coal shipments from Australia's Newcastle port fell 8.38 per cent week on week to 2.67 million mt fo ...
Monday, 30 September 13
PANAMAX CHARTER RATES TOUCHING US$ 18K FOR A TRIP TO NOPAC - CAPT. REDDY
COALspot.com : The freight market continued to remain firm, BDI and the Panamax index up week ended 27 September 2013.
The cape index was fell to ...
Sunday, 29 September 13
API 8 CFR SOUTH CHINA COAL Q3 2014 DELIVERY SWAP GAINED $1.19 M-O-M
COALspot.com : SGX has launched API 8 CFR South China Coal Swap on 29 April 2013 and SGX replaced the previous swap.
API 8 CFR South China Coal s ...
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- Altura Mining Limited, Indonesia
- Latin American Coal - Colombia
- ASAPP Information Group - India
- Mercuria Energy - Indonesia
- Indian Oil Corporation Limited
- Parliament of New Zealand
- Binh Thuan Hamico - Vietnam
- Deloitte Consulting - India
- Electricity Authority, New Zealand
- Global Coal Blending Company Limited - Australia
- Bhatia International Limited - India
- Global Green Power PLC Corporation, Philippines
- Orica Australia Pty. Ltd.
- Jindal Steel & Power Ltd - India
- SMC Global Power, Philippines
- Indonesian Coal Mining Association
- Power Finance Corporation Ltd., India
- Sindya Power Generating Company Private Ltd
- Bharathi Cement Corporation - India
- Holcim Trading Pte Ltd - Singapore
- Kartika Selabumi Mining - Indonesia
- Minerals Council of Australia
- Jorong Barutama Greston.PT - Indonesia
- Standard Chartered Bank - UAE
- IHS Mccloskey Coal Group - USA
- Miang Besar Coal Terminal - Indonesia
- TeaM Sual Corporation - Philippines
- PTC India Limited - India
- Australian Commodity Traders Exchange
- Oldendorff Carriers - Singapore
- Indo Tambangraya Megah - Indonesia
- Uttam Galva Steels Limited - India
- Star Paper Mills Limited - India
- Bukit Baiduri Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Barasentosa Lestari - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Electricity Generating Authority of Thailand
- Sinarmas Energy and Mining - Indonesia
- Bulk Trading Sa - Switzerland
- Banpu Public Company Limited - Thailand
- Borneo Indobara - Indonesia
- Central Electricity Authority - India
- London Commodity Brokers - England
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Goldman Sachs - Singapore
- Sarangani Energy Corporation, Philippines
- PowerSource Philippines DevCo
- India Bulls Power Limited - India
- Attock Cement Pakistan Limited
- Indika Energy - Indonesia
- Merrill Lynch Commodities Europe
- Gujarat Mineral Development Corp Ltd - India
- CNBM International Corporation - China
- Bayan Resources Tbk. - Indonesia
- The University of Queensland
- Karbindo Abesyapradhi - Indoneisa
- Edison Trading Spa - Italy
- Antam Resourcindo - Indonesia
- New Zealand Coal & Carbon
- PetroVietnam Power Coal Import and Supply Company
- Rashtriya Ispat Nigam Limited - India
- Marubeni Corporation - India
- Independent Power Producers Association of India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Aboitiz Power Corporation - Philippines
- Posco Energy - South Korea
- Kalimantan Lumbung Energi - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Chettinad Cement Corporation Ltd - India
- Cement Manufacturers Association - India
- Madhucon Powers Ltd - India
- Mjunction Services Limited - India
- PNOC Exploration Corporation - Philippines
- Neyveli Lignite Corporation Ltd, - India
- Toyota Tsusho Corporation, Japan
- Bukit Makmur.PT - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Australian Coal Association
- Ceylon Electricity Board - Sri Lanka
- Directorate General of MIneral and Coal - Indonesia
- The Treasury - Australian Government
- Xindia Steels Limited - India
- Kaltim Prima Coal - Indonesia
- Ministry of Mines - Canada
- Semirara Mining Corp, Philippines
- Agrawal Coal Company - India
- Karaikal Port Pvt Ltd - India
- Malabar Cements Ltd - India
- Planning Commission, India
- Sree Jayajothi Cements Limited - India
- Intertek Mineral Services - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Carbofer General Trading SA - India
- Lanco Infratech Ltd - India
- Kumho Petrochemical, South Korea
- Straits Asia Resources Limited - Singapore
- Trasteel International SA, Italy
- Energy Link Ltd, New Zealand
- Tamil Nadu electricity Board
- TNB Fuel Sdn Bhd - Malaysia
- Alfred C Toepfer International GmbH - Germany
- Orica Mining Services - Indonesia
- Singapore Mercantile Exchange
- GMR Energy Limited - India
- Thiess Contractors Indonesia
- Ind-Barath Power Infra Limited - India
- Kepco SPC Power Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- ICICI Bank Limited - India
- White Energy Company Limited
- Bukit Asam (Persero) Tbk - Indonesia
- Wood Mackenzie - Singapore
- Aditya Birla Group - India
- Rio Tinto Coal - Australia
- Ambuja Cements Ltd - India
- Wilmar Investment Holdings
- Coastal Gujarat Power Limited - India
- Price Waterhouse Coopers - Russia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Therma Luzon, Inc, Philippines
- Videocon Industries ltd - India
- Larsen & Toubro Limited - India
- Sakthi Sugars Limited - India
- Timah Investasi Mineral - Indoneisa
- Maharashtra Electricity Regulatory Commission - India
- Riau Bara Harum - Indonesia
- Indogreen Group - Indonesia
- Simpson Spence & Young - Indonesia
- Indian Energy Exchange, India
- Vijayanagar Sugar Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- MS Steel International - UAE
- IEA Clean Coal Centre - UK
- Energy Development Corp, Philippines
- Kobexindo Tractors - Indoneisa
- Eastern Energy - Thailand
- Dalmia Cement Bharat India
- South Luzon Thermal Energy Corporation
- Eastern Coal Council - USA
- Heidelberg Cement - Germany
- GN Power Mariveles Coal Plant, Philippines
- McConnell Dowell - Australia
- Anglo American - United Kingdom
- International Coal Ventures Pvt Ltd - India
- Parry Sugars Refinery, India
- Siam City Cement PLC, Thailand
- Sical Logistics Limited - India
- Thai Mozambique Logistica
- Georgia Ports Authority, United States
- Economic Council, Georgia
- Makarim & Taira - Indonesia
- Samtan Co., Ltd - South Korea
- Meralco Power Generation, Philippines
- Maheswari Brothers Coal Limited - India
- Global Business Power Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Manunggal Multi Energi - Indonesia
- Mintek Dendrill Indonesia
- AsiaOL BioFuels Corp., Philippines
- Coal and Oil Company - UAE
- Pipit Mutiara Jaya. PT, Indonesia
- Grasim Industreis Ltd - India
- Essar Steel Hazira Ltd - India
- Sojitz Corporation - Japan
- Semirara Mining and Power Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- SN Aboitiz Power Inc, Philippines
- Baramulti Group, Indonesia
- Jaiprakash Power Ventures ltd
- Africa Commodities Group - South Africa
- Petrochimia International Co. Ltd.- Taiwan
- Gujarat Electricity Regulatory Commission - India
- Chamber of Mines of South Africa
- Romanian Commodities Exchange
- Renaissance Capital - South Africa
- Pendopo Energi Batubara - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Transport, Egypt
- Kideco Jaya Agung - Indonesia
- Commonwealth Bank - Australia
- GVK Power & Infra Limited - India
- San Jose City I Power Corp, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Interocean Group of Companies - India
- Meenaskhi Energy Private Limited - India
- GAC Shipping (India) Pvt Ltd
- Bhushan Steel Limited - India
- Vizag Seaport Private Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Central Java Power - Indonesia
- OPG Power Generation Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Bangladesh Power Developement Board
- Kapuas Tunggal Persada - Indonesia
- Medco Energi Mining Internasional
- Ministry of Finance - Indonesia
- Globalindo Alam Lestari - Indonesia
- Savvy Resources Ltd - HongKong
- Bahari Cakrawala Sebuku - Indonesia
- Port Waratah Coal Services - Australia
- SMG Consultants - Indonesia
- Tata Chemicals Ltd - India
- European Bulk Services B.V. - Netherlands
- VISA Power Limited - India
- Mercator Lines Limited - India
- CIMB Investment Bank - Malaysia
- The State Trading Corporation of India Ltd
- Siam City Cement - Thailand
- Coalindo Energy - Indonesia
- Salva Resources Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Petron Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Bhoruka Overseas - Indonesia
- Vedanta Resources Plc - India
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