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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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Monday, 16 September 13
WHAT RECOVERY MEANS FOR THE CAPESIZE MARKET - COMMODORE RESEARCH
COALspot.com: The simple fact that capesize rates have been able to increase above the $9,000/mark and become much more responsive to changes in car ...
Monday, 16 September 13
CFR SOUTH CHINA COAL SWAP: STABLE TO STEADY
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 ...
Monday, 16 September 13
INDONESIAN SUB-BIT COAL SWAP STRUGGLING TO FINDS THE RIGHT PATH
COALspot.com – Sub-Bit Indonesia coal swap (FOB ) for average Q4 2013 delivery down 0.75 percept month on month on Friday 13 Septe ...
Sunday, 15 September 13
CAPE FREIGHT RATES RISE ON HIGH DEMAND AND TIGHT AVAILABILITY - CAPT. REDDY
COALspot.com : The BDI, Cape and Panamax indices are continued to rise and saw a steep surge with average index in these segments up around 25 pct w ...
Friday, 13 September 13
US COAL OUTPUT SLIPS 3.34% ON-WEEK
COALspot.com – United states the world’s second largest coal producer produced totaled approximately 20.20 million short tons (mmst) of ...
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- Coal and Oil Company - UAE
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- New Zealand Coal & Carbon
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- IHS Mccloskey Coal Group - USA
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- Port Waratah Coal Services - Australia
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- Ministry of Finance - Indonesia
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- Economic Council, Georgia
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- Indo Tambangraya Megah - Indonesia
- Kumho Petrochemical, South Korea
- SMC Global Power, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Salva Resources Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Commonwealth Bank - Australia
- Bhoruka Overseas - Indonesia
- Bangladesh Power Developement Board
- Heidelberg Cement - Germany
- Indogreen Group - Indonesia
- Thiess Contractors Indonesia
- Miang Besar Coal Terminal - Indonesia
- Parliament of New Zealand
- PowerSource Philippines DevCo
- London Commodity Brokers - England
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Chamber of Mines of South Africa
- Banpu Public Company Limited - Thailand
- Sinarmas Energy and Mining - Indonesia
- Global Business Power Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Tamil Nadu electricity Board
- TNB Fuel Sdn Bhd - Malaysia
- Aboitiz Power Corporation - Philippines
- Directorate Of Revenue Intelligence - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Krishnapatnam Port Company Ltd. - India
- Maharashtra Electricity Regulatory Commission - India
- Borneo Indobara - Indonesia
- Baramulti Group, Indonesia
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- Thai Mozambique Logistica
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- Sree Jayajothi Cements Limited - India
- CIMB Investment Bank - Malaysia
- Semirara Mining Corp, Philippines
- ASAPP Information Group - India
- Attock Cement Pakistan Limited
- GAC Shipping (India) Pvt Ltd
- Kideco Jaya Agung - Indonesia
- Edison Trading Spa - Italy
- Trasteel International SA, Italy
- Electricity Generating Authority of Thailand
- European Bulk Services B.V. - Netherlands
- Bulk Trading Sa - Switzerland
- Siam City Cement - Thailand
- Asmin Koalindo Tuhup - Indonesia
- Posco Energy - South Korea
- Makarim & Taira - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Essar Steel Hazira Ltd - India
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- Iligan Light & Power Inc, Philippines
- Indonesian Coal Mining Association
- SN Aboitiz Power Inc, Philippines
- The University of Queensland
- Medco Energi Mining Internasional
- Karbindo Abesyapradhi - Indoneisa
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- Global Coal Blending Company Limited - Australia
- Dalmia Cement Bharat India
- Singapore Mercantile Exchange
- Oldendorff Carriers - Singapore
- Samtan Co., Ltd - South Korea
- IEA Clean Coal Centre - UK
- The Treasury - Australian Government
- Minerals Council of Australia
- Grasim Industreis Ltd - India
- Latin American Coal - Colombia
- McConnell Dowell - Australia
- Energy Link Ltd, New Zealand
- Tata Chemicals Ltd - India
- Xindia Steels Limited - India
- MS Steel International - UAE
- Mercator Lines Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Kalimantan Lumbung Energi - Indonesia
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- Mjunction Services Limited - India
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- Alfred C Toepfer International GmbH - Germany
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- Bhatia International Limited - India
- Eastern Coal Council - USA
- Meralco Power Generation, Philippines
- Orica Mining Services - Indonesia
- Sical Logistics Limited - India
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- Eastern Energy - Thailand
- The State Trading Corporation of India Ltd
- TeaM Sual Corporation - Philippines
- PNOC Exploration Corporation - Philippines
- Carbofer General Trading SA - India
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- India Bulls Power Limited - India
- Georgia Ports Authority, United States
- Power Finance Corporation Ltd., India
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- Meenaskhi Energy Private Limited - India
- Gujarat Sidhee Cement - India
- Globalindo Alam Lestari - Indonesia
- Toyota Tsusho Corporation, Japan
- Jindal Steel & Power Ltd - India
- SMG Consultants - Indonesia
- Merrill Lynch Commodities Europe
- ICICI Bank Limited - India
- Pendopo Energi Batubara - Indonesia
- Kartika Selabumi Mining - Indonesia
- Australian Coal Association
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- GVK Power & Infra Limited - India
- Jaiprakash Power Ventures ltd
- Anglo American - United Kingdom
- Binh Thuan Hamico - Vietnam
- Independent Power Producers Association of India
- Siam City Cement PLC, Thailand
- Malabar Cements Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Renaissance Capital - South Africa
- Central Electricity Authority - India
- Cement Manufacturers Association - India
- Sindya Power Generating Company Private Ltd
- Marubeni Corporation - India
- Australian Commodity Traders Exchange
- Kaltim Prima Coal - Indonesia
- PTC India Limited - India
- Sakthi Sugars Limited - India
- GMR Energy Limited - India
- Indian Oil Corporation Limited
- Chettinad Cement Corporation Ltd - India
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- Timah Investasi Mineral - Indoneisa
- San Jose City I Power Corp, Philippines
- Leighton Contractors Pty Ltd - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Manunggal Multi Energi - Indonesia
- OPG Power Generation Pvt Ltd - India
- Aditya Birla Group - India
- CNBM International Corporation - China
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