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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, 08 September 13
BALTIC INDEX UP ON HIGHER CAPESIZE, PANAMAX RATES
COALspot.com : The freight market continued saw one of the biggest rally last week with Cape Size taking the lead followed by Panamax.
The BDI wa ...
Friday, 06 September 13
DRY BULK MARKET REACHES NEW YEAR-HIGHS ON THE BACK OF INCREASED CAPESIZE DEMAND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has been on the rise once again, but this time around any new increase of freight rates translates into new year-highs, thus bri ...
Friday, 06 September 13
US PRODUCED APPROXIMATELY 90.80 MMST OF COAL IN AUGUST
COALspot.com – United states the world’s second largest coal producer produced totaled approximately 20.90 million short tons (mmst) of ...
Thursday, 05 September 13
INDONESIAN COAL EXPORTS UP BY 6.72 PERCENT IN JULY
COALspot.com: Indonesia, the world's largest multi grade coal exporter shipped 35.268* million tons of coal in July 2013. Indonesian coal exp ...
Thursday, 05 September 13
HANDY: NICKEL ORE WAS PUSHING THE FAR EAST MARKET - FEARNLEYS
Handy
Nickel Ore was pushing the Feast market, several ships were fixed from low teens to $14k. Indo/India was still supported by bauxite, while th ...
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- Ambuja Cements Ltd - India
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- Sinarmas Energy and Mining - Indonesia
- GVK Power & Infra Limited - India
- Kepco SPC Power Corporation, Philippines
- ICICI Bank Limited - India
- Formosa Plastics Group - Taiwan
- Eastern Energy - Thailand
- Ministry of Mines - Canada
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- Electricity Authority, New Zealand
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- Heidelberg Cement - Germany
- Ind-Barath Power Infra Limited - India
- Global Coal Blending Company Limited - Australia
- Romanian Commodities Exchange
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- Petrochimia International Co. Ltd.- Taiwan
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- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Star Paper Mills Limited - India
- Latin American Coal - Colombia
- Ministry of Finance - Indonesia
- CNBM International Corporation - China
- Billiton Holdings Pty Ltd - Australia
- Leighton Contractors Pty Ltd - Australia
- Bangladesh Power Developement Board
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- Baramulti Group, Indonesia
- Coal and Oil Company - UAE
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- Coalindo Energy - Indonesia
- The State Trading Corporation of India Ltd
- Edison Trading Spa - Italy
- Australian Commodity Traders Exchange
- Indonesian Coal Mining Association
- Alfred C Toepfer International GmbH - Germany
- Lanco Infratech Ltd - India
- Australian Coal Association
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- White Energy Company Limited
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- The University of Queensland
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- Sojitz Corporation - Japan
- GMR Energy Limited - India
- Parry Sugars Refinery, India
- Minerals Council of Australia
- Chamber of Mines of South Africa
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- Karbindo Abesyapradhi - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- Bhatia International Limited - India
- Bharathi Cement Corporation - India
- PowerSource Philippines DevCo
- Merrill Lynch Commodities Europe
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- Mintek Dendrill Indonesia
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- Sakthi Sugars Limited - India
- Standard Chartered Bank - UAE
- Thiess Contractors Indonesia
- Toyota Tsusho Corporation, Japan
- Medco Energi Mining Internasional
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- Mercuria Energy - Indonesia
- Energy Development Corp, Philippines
- Timah Investasi Mineral - Indoneisa
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- Bukit Makmur.PT - Indonesia
- PNOC Exploration Corporation - Philippines
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- Binh Thuan Hamico - Vietnam
- Orica Mining Services - Indonesia
- Goldman Sachs - Singapore
- Global Business Power Corporation, Philippines
- Cement Manufacturers Association - India
- Indo Tambangraya Megah - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Africa Commodities Group - South Africa
- Barasentosa Lestari - Indonesia
- Wood Mackenzie - Singapore
- Indian Oil Corporation Limited
- Tata Chemicals Ltd - India
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- Jaiprakash Power Ventures ltd
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- The Treasury - Australian Government
- Therma Luzon, Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Attock Cement Pakistan Limited
- Intertek Mineral Services - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Commonwealth Bank - Australia
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- Thai Mozambique Logistica
- Price Waterhouse Coopers - Russia
- SMC Global Power, Philippines
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- Indogreen Group - Indonesia
- Deloitte Consulting - India
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- Miang Besar Coal Terminal - Indonesia
- GAC Shipping (India) Pvt Ltd
- IEA Clean Coal Centre - UK
- VISA Power Limited - India
- Sical Logistics Limited - India
- Coastal Gujarat Power Limited - India
- Petron Corporation, Philippines
- McConnell Dowell - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Rashtriya Ispat Nigam Limited - India
- Kohat Cement Company Ltd. - Pakistan
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- PTC India Limited - India
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- Holcim Trading Pte Ltd - Singapore
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- PetroVietnam Power Coal Import and Supply Company
- New Zealand Coal & Carbon
- Cigading International Bulk Terminal - Indonesia
- Agrawal Coal Company - India
- Siam City Cement - Thailand
- Globalindo Alam Lestari - Indonesia
- Jindal Steel & Power Ltd - India
- Samtan Co., Ltd - South Korea
- Marubeni Corporation - India
- SMG Consultants - Indonesia
- Parliament of New Zealand
- San Jose City I Power Corp, Philippines
- Kapuas Tunggal Persada - Indonesia
- Bhushan Steel Limited - India
- Uttam Galva Steels Limited - India
- Meenaskhi Energy Private Limited - India
- Bhoruka Overseas - Indonesia
- Meralco Power Generation, Philippines
- India Bulls Power Limited - India
- Singapore Mercantile Exchange
- Port Waratah Coal Services - Australia
- Kalimantan Lumbung Energi - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- CIMB Investment Bank - Malaysia
- Banpu Public Company Limited - Thailand
- Indian Energy Exchange, India
- Metalloyd Limited - United Kingdom
- Kaltim Prima Coal - Indonesia
- IHS Mccloskey Coal Group - USA
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Bank of Tokyo Mitsubishi UFJ Ltd
- Directorate Of Revenue Intelligence - India
- Economic Council, Georgia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Semirara Mining Corp, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Kartika Selabumi Mining - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Power Finance Corporation Ltd., India
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- Gujarat Mineral Development Corp Ltd - India
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- Mercator Lines Limited - India
- Bulk Trading Sa - Switzerland
- Larsen & Toubro Limited - India
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- Renaissance Capital - South Africa
- Sindya Power Generating Company Private Ltd
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- Offshore Bulk Terminal Pte Ltd, Singapore
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