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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, 20 September 13
DRY BULK MARKET REACHES NEW HEIGHTS THIS WEEK STANDING AT THREE-YEAR HIGH - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The biggest rally of the dry bulk market in more than three years have brought back joy among ship owners, especially those active in the Capesize m ...
Friday, 20 September 13
US COAL PRODUCTION SLIGHTLY UP WEEK ON WEEK
COALspot.com – United States the world’s second largest coal producer produced totalled approximately 20.30 million short tons (mmst) of ...
Friday, 20 September 13
COLOMBIA SHIPPED 31.14 MILLION TONS OF THERMAL COAL IN H1
COALspot.com : Colombia’s coal exports fell by 20.59 percent in June 2013 compared to Colombia’s May's export of 7,633,579 MT.
Colom ...
Thursday, 19 September 13
CAPESIZE : AVERAGE DAILY EARNINGS HAVE GAINED ALMOST USD 6K WOW - FEARNLEYS
Handy
The rates in Feast are still firm this week even the activity calmed down a bit as chrtrs are not in a rush to cover even their end Sept carg ...
Wednesday, 18 September 13
IRON ORE AND ZINC ARE BEST PERFORMING MINING SECTORS IN CURRENT LOW PRICE, HIGH COST ENVIRONMENT - WOOD MACKENZIE
With the fall in commodity prices, cash margins in the mining industry have come under pressure. Accordingly, producers and investors are placing in ...
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- Leighton Contractors Pty Ltd - Australia
- Neyveli Lignite Corporation Ltd, - India
- Interocean Group of Companies - India
- Petrochimia International Co. Ltd.- Taiwan
- Bayan Resources Tbk. - Indonesia
- Savvy Resources Ltd - HongKong
- Salva Resources Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Borneo Indobara - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- GN Power Mariveles Coal Plant, Philippines
- Attock Cement Pakistan Limited
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Therma Luzon, Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ministry of Finance - Indonesia
- Petron Corporation, Philippines
- Minerals Council of Australia
- Bukit Baiduri Energy - Indonesia
- Port Waratah Coal Services - Australia
- Aboitiz Power Corporation - Philippines
- Metalloyd Limited - United Kingdom
- Indo Tambangraya Megah - Indonesia
- Semirara Mining and Power Corporation, Philippines
- White Energy Company Limited
- Larsen & Toubro Limited - India
- Energy Development Corp, Philippines
- Riau Bara Harum - Indonesia
- San Jose City I Power Corp, Philippines
- Rio Tinto Coal - Australia
- GVK Power & Infra Limited - India
- Pendopo Energi Batubara - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Thiess Contractors Indonesia
- The Treasury - Australian Government
- Semirara Mining Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Indonesian Coal Mining Association
- Coal and Oil Company - UAE
- Pipit Mutiara Jaya. PT, Indonesia
- Toyota Tsusho Corporation, Japan
- Carbofer General Trading SA - India
- Global Green Power PLC Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Globalindo Alam Lestari - Indonesia
- Binh Thuan Hamico - Vietnam
- The University of Queensland
- Parliament of New Zealand
- Ind-Barath Power Infra Limited - India
- Holcim Trading Pte Ltd - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Bukit Asam (Persero) Tbk - Indonesia
- Economic Council, Georgia
- Bhushan Steel Limited - India
- Iligan Light & Power Inc, Philippines
- Standard Chartered Bank - UAE
- European Bulk Services B.V. - Netherlands
- OPG Power Generation Pvt Ltd - India
- Goldman Sachs - Singapore
- Miang Besar Coal Terminal - Indonesia
- Sree Jayajothi Cements Limited - India
- Vedanta Resources Plc - India
- Asmin Koalindo Tuhup - Indonesia
- PowerSource Philippines DevCo
- Lanco Infratech Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- McConnell Dowell - Australia
- Australian Commodity Traders Exchange
- Bhatia International Limited - India
- Sindya Power Generating Company Private Ltd
- Intertek Mineral Services - Indonesia
- Medco Energi Mining Internasional
- Indika Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Baramulti Group, Indonesia
- Agrawal Coal Company - India
- Central Java Power - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Wood Mackenzie - Singapore
- Parry Sugars Refinery, India
- Commonwealth Bank - Australia
- Grasim Industreis Ltd - India
- Kartika Selabumi Mining - Indonesia
- Global Coal Blending Company Limited - Australia
- Jorong Barutama Greston.PT - Indonesia
- Coastal Gujarat Power Limited - India
- Formosa Plastics Group - Taiwan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Essar Steel Hazira Ltd - India
- Thai Mozambique Logistica
- Vizag Seaport Private Limited - India
- Mjunction Services Limited - India
- Krishnapatnam Port Company Ltd. - India
- Karbindo Abesyapradhi - Indoneisa
- Ministry of Transport, Egypt
- Independent Power Producers Association of India
- Cement Manufacturers Association - India
- Global Business Power Corporation, Philippines
- Oldendorff Carriers - Singapore
- Videocon Industries ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Posco Energy - South Korea
- GAC Shipping (India) Pvt Ltd
- Wilmar Investment Holdings
- Merrill Lynch Commodities Europe
- Bahari Cakrawala Sebuku - Indonesia
- Kumho Petrochemical, South Korea
- TeaM Sual Corporation - Philippines
- CNBM International Corporation - China
- Siam City Cement PLC, Thailand
- PNOC Exploration Corporation - Philippines
- Timah Investasi Mineral - Indoneisa
- Heidelberg Cement - Germany
- Sinarmas Energy and Mining - Indonesia
- Chamber of Mines of South Africa
- Sojitz Corporation - Japan
- Simpson Spence & Young - Indonesia
- Electricity Authority, New Zealand
- Barasentosa Lestari - Indonesia
- VISA Power Limited - India
- Billiton Holdings Pty Ltd - Australia
- Samtan Co., Ltd - South Korea
- Power Finance Corporation Ltd., India
- Cigading International Bulk Terminal - Indonesia
- Jindal Steel & Power Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Banpu Public Company Limited - Thailand
- Mintek Dendrill Indonesia
- ICICI Bank Limited - India
- Meenaskhi Energy Private Limited - India
- Star Paper Mills Limited - India
- Latin American Coal - Colombia
- Bhoruka Overseas - Indonesia
- Australian Coal Association
- Madhucon Powers Ltd - India
- Bangladesh Power Developement Board
- Sarangani Energy Corporation, Philippines
- CIMB Investment Bank - Malaysia
- LBH Netherlands Bv - Netherlands
- Electricity Generating Authority of Thailand
- Gujarat Sidhee Cement - India
- Sical Logistics Limited - India
- Bharathi Cement Corporation - India
- South Luzon Thermal Energy Corporation
- Indian Energy Exchange, India
- Eastern Coal Council - USA
- Energy Link Ltd, New Zealand
- Indogreen Group - Indonesia
- Kobexindo Tractors - Indoneisa
- Bulk Trading Sa - Switzerland
- Dalmia Cement Bharat India
- Singapore Mercantile Exchange
- Xindia Steels Limited - India
- Ceylon Electricity Board - Sri Lanka
- Jaiprakash Power Ventures ltd
- Makarim & Taira - Indonesia
- SN Aboitiz Power Inc, Philippines
- Trasteel International SA, Italy
- The State Trading Corporation of India Ltd
- Mercuria Energy - Indonesia
- Mercator Lines Limited - India
- Sakthi Sugars Limited - India
- IHS Mccloskey Coal Group - USA
- Kapuas Tunggal Persada - Indonesia
- Deloitte Consulting - India
- Chettinad Cement Corporation Ltd - India
- GMR Energy Limited - India
- ASAPP Information Group - India
- Antam Resourcindo - Indonesia
- Planning Commission, India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Marubeni Corporation - India
- Manunggal Multi Energi - Indonesia
- Renaissance Capital - South Africa
- Altura Mining Limited, Indonesia
- Anglo American - United Kingdom
- MS Steel International - UAE
- Malabar Cements Ltd - India
- Price Waterhouse Coopers - Russia
- SMG Consultants - Indonesia
- Orica Mining Services - Indonesia
- Tata Chemicals Ltd - India
- Aditya Birla Group - India
- Maharashtra Electricity Regulatory Commission - India
- Ambuja Cements Ltd - India
- India Bulls Power Limited - India
- Directorate Of Revenue Intelligence - India
- Romanian Commodities Exchange
- IEA Clean Coal Centre - UK
- Central Electricity Authority - India
- Indian Oil Corporation Limited
- New Zealand Coal & Carbon
- Edison Trading Spa - Italy
- Siam City Cement - Thailand
- Maheswari Brothers Coal Limited - India
- Meralco Power Generation, Philippines
- Ministry of Mines - Canada
- Orica Australia Pty. Ltd.
- Coalindo Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Bukit Makmur.PT - Indonesia
- Uttam Galva Steels Limited - India
- Alfred C Toepfer International GmbH - Germany
- PTC India Limited - India
- Georgia Ports Authority, United States
- Tamil Nadu electricity Board
- Kepco SPC Power Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Eastern Energy - Thailand
- SMC Global Power, Philippines
- London Commodity Brokers - England
- Africa Commodities Group - South Africa
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