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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, 26 September 13
INTERCARGO PUBLISHES BENCHMARKING BULK CARRIERS 2012-13 REPORT
The International Association of Dry Cargo Shipowners (Intercargo) has today launched Benchmarking Bulk Carriers 2012-13, the latest edition of our ...
Thursday, 26 September 13
DRY BULK MARKET KEEPS ON RALLYING ON THE BACK OF HIGH CAPESIZE DEMAND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market has kept its momentum over the course of the past week, on the back of increased demand for Capesizes and an improvement of mark ...
Wednesday, 25 September 13
RBCT'S COAL EXPORT DECLINES IN AUGUST
COALspot.com - Richards Bay Coal Terminal (RBCT) is the single largest coal export terminal in South African as well as in the world has shipped 16. ...
Wednesday, 25 September 13
CAPES TOUCHING RATES NO ONE BELIEVED COULD BE ACHIEVED IN 2013 - INTERMODAL
Chartering (Wet: Stable- / Dry: Firm+ )
The Dry Bulk market is the gift that keeps on giving these days. With rates for Capes touching numbers ...
Wednesday, 25 September 13
IS IT TIME AGAIN TO SUPERSIZE AGAIN? - GEORGE LAZARIDIS
After an early arrival of the seasonal rally in the Capesize market, things look to be on the upbeat for these dry bulk giants. With the Index reach ...
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- Mercator Lines Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Independent Power Producers Association of India
- Borneo Indobara - Indonesia
- Merrill Lynch Commodities Europe
- Straits Asia Resources Limited - Singapore
- Power Finance Corporation Ltd., India
- PetroVietnam Power Coal Import and Supply Company
- New Zealand Coal & Carbon
- Economic Council, Georgia
- Bahari Cakrawala Sebuku - Indonesia
- Barasentosa Lestari - Indonesia
- Commonwealth Bank - Australia
- Globalindo Alam Lestari - Indonesia
- Pendopo Energi Batubara - Indonesia
- Trasteel International SA, Italy
- Gujarat Sidhee Cement - India
- India Bulls Power Limited - India
- Parliament of New Zealand
- Star Paper Mills Limited - India
- Posco Energy - South Korea
- Interocean Group of Companies - India
- PowerSource Philippines DevCo
- McConnell Dowell - Australia
- European Bulk Services B.V. - Netherlands
- Minerals Council of Australia
- Madhucon Powers Ltd - India
- PTC India Limited - India
- Parry Sugars Refinery, India
- Petrochimia International Co. Ltd.- Taiwan
- Kumho Petrochemical, South Korea
- Ambuja Cements Ltd - India
- Lanco Infratech Ltd - India
- Uttam Galva Steels Limited - India
- Price Waterhouse Coopers - Russia
- Vizag Seaport Private Limited - India
- Maheswari Brothers Coal Limited - India
- Toyota Tsusho Corporation, Japan
- Coal and Oil Company - UAE
- Rio Tinto Coal - Australia
- Indika Energy - Indonesia
- Siam City Cement - Thailand
- San Jose City I Power Corp, Philippines
- Antam Resourcindo - Indonesia
- Altura Mining Limited, Indonesia
- Banpu Public Company Limited - Thailand
- Global Business Power Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Electricity Authority, New Zealand
- Baramulti Group, Indonesia
- Australian Coal Association
- LBH Netherlands Bv - Netherlands
- Bukit Asam (Persero) Tbk - Indonesia
- Anglo American - United Kingdom
- Coastal Gujarat Power Limited - India
- Ministry of Mines - Canada
- Ind-Barath Power Infra Limited - India
- White Energy Company Limited
- Essar Steel Hazira Ltd - India
- Agrawal Coal Company - India
- OPG Power Generation Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- GN Power Mariveles Coal Plant, Philippines
- Directorate General of MIneral and Coal - Indonesia
- CNBM International Corporation - China
- Global Coal Blending Company Limited - Australia
- Indogreen Group - Indonesia
- SMG Consultants - Indonesia
- Eastern Energy - Thailand
- Romanian Commodities Exchange
- Australian Commodity Traders Exchange
- CIMB Investment Bank - Malaysia
- Bhoruka Overseas - Indonesia
- Malabar Cements Ltd - India
- Singapore Mercantile Exchange
- Iligan Light & Power Inc, Philippines
- Xindia Steels Limited - India
- Videocon Industries ltd - India
- Sojitz Corporation - Japan
- IEA Clean Coal Centre - UK
- Marubeni Corporation - India
- Jaiprakash Power Ventures ltd
- The Treasury - Australian Government
- Aboitiz Power Corporation - Philippines
- Renaissance Capital - South Africa
- London Commodity Brokers - England
- Kobexindo Tractors - Indoneisa
- Intertek Mineral Services - Indonesia
- Kaltim Prima Coal - Indonesia
- TeaM Sual Corporation - Philippines
- MS Steel International - UAE
- Eastern Coal Council - USA
- Sinarmas Energy and Mining - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Edison Trading Spa - Italy
- Energy Link Ltd, New Zealand
- ASAPP Information Group - India
- Goldman Sachs - Singapore
- Simpson Spence & Young - Indonesia
- Kepco SPC Power Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Central Java Power - Indonesia
- Metalloyd Limited - United Kingdom
- Sindya Power Generating Company Private Ltd
- Formosa Plastics Group - Taiwan
- Riau Bara Harum - Indonesia
- Latin American Coal - Colombia
- Semirara Mining and Power Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Aditya Birla Group - India
- GMR Energy Limited - India
- Sree Jayajothi Cements Limited - India
- Indonesian Coal Mining Association
- Salva Resources Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Cement Manufacturers Association - India
- Orica Australia Pty. Ltd.
- Karbindo Abesyapradhi - Indoneisa
- Larsen & Toubro Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Kapuas Tunggal Persada - Indonesia
- Bayan Resources Tbk. - Indonesia
- The University of Queensland
- Indian Energy Exchange, India
- Electricity Generating Authority of Thailand
- Gujarat Mineral Development Corp Ltd - India
- Port Waratah Coal Services - Australia
- Semirara Mining Corp, Philippines
- Sical Logistics Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Oldendorff Carriers - Singapore
- AsiaOL BioFuels Corp., Philippines
- Sakthi Sugars Limited - India
- Rashtriya Ispat Nigam Limited - India
- Thai Mozambique Logistica
- Thiess Contractors Indonesia
- Bhatia International Limited - India
- Karaikal Port Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mintek Dendrill Indonesia
- Miang Besar Coal Terminal - Indonesia
- Indian Oil Corporation Limited
- Gujarat Electricity Regulatory Commission - India
- Mjunction Services Limited - India
- Coalindo Energy - Indonesia
- Central Electricity Authority - India
- Asmin Koalindo Tuhup - Indonesia
- International Coal Ventures Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Medco Energi Mining Internasional
- TNB Fuel Sdn Bhd - Malaysia
- Sarangani Energy Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- SMC Global Power, Philippines
- Africa Commodities Group - South Africa
- Energy Development Corp, Philippines
- SN Aboitiz Power Inc, Philippines
- Planning Commission, India
- South Luzon Thermal Energy Corporation
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Tata Chemicals Ltd - India
- IHS Mccloskey Coal Group - USA
- The State Trading Corporation of India Ltd
- Bhushan Steel Limited - India
- Siam City Cement PLC, Thailand
- Makarim & Taira - Indonesia
- Bukit Makmur.PT - Indonesia
- Mercuria Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Global Green Power PLC Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Meenaskhi Energy Private Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Standard Chartered Bank - UAE
- ICICI Bank Limited - India
- Manunggal Multi Energi - Indonesia
- VISA Power Limited - India
- Tamil Nadu electricity Board
- Samtan Co., Ltd - South Korea
- Dalmia Cement Bharat India
- Attock Cement Pakistan Limited
- Orica Mining Services - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Wood Mackenzie - Singapore
- Directorate Of Revenue Intelligence - India
- Ministry of Finance - Indonesia
- Petron Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Krishnapatnam Port Company Ltd. - India
- Jindal Steel & Power Ltd - India
- Meralco Power Generation, Philippines
- Georgia Ports Authority, United States
- Indo Tambangraya Megah - Indonesia
- Chettinad Cement Corporation Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kideco Jaya Agung - Indonesia
- Timah Investasi Mineral - Indoneisa
- Ministry of Transport, Egypt
- PNOC Exploration Corporation - Philippines
- Bukit Baiduri Energy - Indonesia
- Deloitte Consulting - India
- GAC Shipping (India) Pvt Ltd
- Chamber of Mines of South Africa
- Bulk Trading Sa - Switzerland
- Heidelberg Cement - Germany
- Holcim Trading Pte Ltd - Singapore
- Bharathi Cement Corporation - India
- Carbofer General Trading SA - India
- Grasim Industreis Ltd - India
- GVK Power & Infra Limited - India
- Vedanta Resources Plc - India
- Pipit Mutiara Jaya. PT, Indonesia
- Wilmar Investment Holdings
- Bangladesh Power Developement Board
- Billiton Holdings Pty Ltd - Australia
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