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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, 01 September 13
INDONESIA TO INDIA SPOT FREIGHT STAYS FIRM THIS WEEK - VISTAAR
COALspot.com: The freight market continued to be firm with even though the BDI and Cape index dropped by about 3 pct week on week.
The BDI was do ...
Friday, 30 August 13
US COAL PRODUCTION FELL 0.48 PERCENT WEEK ON WEEK - EIA
COALspot.com – United states the world’s second largest coal producer produced totaled approximately 20.70 million short tons (mmst) of ...
Thursday, 29 August 13
HANDY: THE PACIFIC MARKET STARTED HEALTHY THIS WEEK - FEARNRESEARCH
Handy
The Pacific market started healthy this week. We have seen many bauxite, iron ore and few coal fixtures. Ships passing Singapore were able to ...
Thursday, 29 August 13
NO RATING IMPACT ON INDONESIAN ENERGY COMPANIES FROM RUPIAH DEPRECIATION - FITCH RATINGS
Fitch Ratings says the credit profiles of rated Indonesian energy and utilities companies, including thermal coal producers, will largely remain una ...
Wednesday, 28 August 13
THE BDI HAS MOVED TO LEVELS CONSIDERABLY STRONGER THAN THE BEGINNING OF THE YEAR - INTERMODAL
By George Bassakos
SnP Broker - Intermodal
We have already reached the end of August and whilst students are preparing themselves for another sc ...
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- Global Coal Blending Company Limited - Australia
- CIMB Investment Bank - Malaysia
- San Jose City I Power Corp, Philippines
- Kumho Petrochemical, South Korea
- Merrill Lynch Commodities Europe
- Renaissance Capital - South Africa
- Semirara Mining Corp, Philippines
- Kaltim Prima Coal - Indonesia
- Independent Power Producers Association of India
- Altura Mining Limited, Indonesia
- Sree Jayajothi Cements Limited - India
- Essar Steel Hazira Ltd - India
- Ministry of Mines - Canada
- AsiaOL BioFuels Corp., Philippines
- Formosa Plastics Group - Taiwan
- Energy Link Ltd, New Zealand
- Bulk Trading Sa - Switzerland
- Indogreen Group - Indonesia
- Agrawal Coal Company - India
- IHS Mccloskey Coal Group - USA
- Maheswari Brothers Coal Limited - India
- Globalindo Alam Lestari - Indonesia
- Vizag Seaport Private Limited - India
- Salva Resources Pvt Ltd - India
- McConnell Dowell - Australia
- Bhatia International Limited - India
- Ministry of Finance - Indonesia
- Singapore Mercantile Exchange
- Power Finance Corporation Ltd., India
- SMG Consultants - Indonesia
- Thiess Contractors Indonesia
- Bhoruka Overseas - Indonesia
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- Orica Australia Pty. Ltd.
- Aboitiz Power Corporation - Philippines
- Gujarat Mineral Development Corp Ltd - India
- Kepco SPC Power Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Wilmar Investment Holdings
- Toyota Tsusho Corporation, Japan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Manunggal Multi Energi - Indonesia
- Minerals Council of Australia
- Petrochimia International Co. Ltd.- Taiwan
- Edison Trading Spa - Italy
- Therma Luzon, Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Wood Mackenzie - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Tata Chemicals Ltd - India
- Parry Sugars Refinery, India
- Indian Energy Exchange, India
- Sindya Power Generating Company Private Ltd
- Rio Tinto Coal - Australia
- Pendopo Energi Batubara - Indonesia
- PNOC Exploration Corporation - Philippines
- Latin American Coal - Colombia
- Jaiprakash Power Ventures ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Australian Coal Association
- Meenaskhi Energy Private Limited - India
- Alfred C Toepfer International GmbH - Germany
- Rashtriya Ispat Nigam Limited - India
- Bukit Makmur.PT - Indonesia
- Iligan Light & Power Inc, Philippines
- European Bulk Services B.V. - Netherlands
- Mercuria Energy - Indonesia
- CNBM International Corporation - China
- Karaikal Port Pvt Ltd - India
- Central Java Power - Indonesia
- Heidelberg Cement - Germany
- Sojitz Corporation - Japan
- Attock Cement Pakistan Limited
- Directorate General of MIneral and Coal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Global Business Power Corporation, Philippines
- Coalindo Energy - Indonesia
- Siam City Cement - Thailand
- Price Waterhouse Coopers - Russia
- Eastern Energy - Thailand
- ICICI Bank Limited - India
- Mintek Dendrill Indonesia
- TeaM Sual Corporation - Philippines
- Gujarat Sidhee Cement - India
- Meralco Power Generation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Central Electricity Authority - India
- Binh Thuan Hamico - Vietnam
- Samtan Co., Ltd - South Korea
- Siam City Cement PLC, Thailand
- LBH Netherlands Bv - Netherlands
- Riau Bara Harum - Indonesia
- Antam Resourcindo - Indonesia
- GAC Shipping (India) Pvt Ltd
- Kobexindo Tractors - Indoneisa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Planning Commission, India
- Simpson Spence & Young - Indonesia
- Savvy Resources Ltd - HongKong
- Star Paper Mills Limited - India
- Economic Council, Georgia
- Trasteel International SA, Italy
- Bahari Cakrawala Sebuku - Indonesia
- Vedanta Resources Plc - India
- Indonesian Coal Mining Association
- Bhushan Steel Limited - India
- Ceylon Electricity Board - Sri Lanka
- Jorong Barutama Greston.PT - Indonesia
- Grasim Industreis Ltd - India
- Kideco Jaya Agung - Indonesia
- Posco Energy - South Korea
- Chamber of Mines of South Africa
- Standard Chartered Bank - UAE
- Ambuja Cements Ltd - India
- Australian Commodity Traders Exchange
- MS Steel International - UAE
- Medco Energi Mining Internasional
- Indian Oil Corporation Limited
- Offshore Bulk Terminal Pte Ltd, Singapore
- Lanco Infratech Ltd - India
- Orica Mining Services - Indonesia
- PTC India Limited - India
- Borneo Indobara - Indonesia
- Anglo American - United Kingdom
- TNB Fuel Sdn Bhd - Malaysia
- Jindal Steel & Power Ltd - India
- VISA Power Limited - India
- Oldendorff Carriers - Singapore
- Mercator Lines Limited - India
- Kohat Cement Company Ltd. - Pakistan
- SMC Global Power, Philippines
- Coastal Gujarat Power Limited - India
- Videocon Industries ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Semirara Mining and Power Corporation, Philippines
- Africa Commodities Group - South Africa
- Uttam Galva Steels Limited - India
- Sakthi Sugars Limited - India
- Eastern Coal Council - USA
- Makarim & Taira - Indonesia
- Mjunction Services Limited - India
- International Coal Ventures Pvt Ltd - India
- Georgia Ports Authority, United States
- Intertek Mineral Services - Indonesia
- Deloitte Consulting - India
- Aditya Birla Group - India
- Maharashtra Electricity Regulatory Commission - India
- The State Trading Corporation of India Ltd
- GMR Energy Limited - India
- Indo Tambangraya Megah - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Marubeni Corporation - India
- The University of Queensland
- Global Green Power PLC Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Electricity Generating Authority of Thailand
- Holcim Trading Pte Ltd - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- South Luzon Thermal Energy Corporation
- Sical Logistics Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Directorate Of Revenue Intelligence - India
- Xindia Steels Limited - India
- Bangladesh Power Developement Board
- GN Power Mariveles Coal Plant, Philippines
- New Zealand Coal & Carbon
- Interocean Group of Companies - India
- Cement Manufacturers Association - India
- Madhucon Powers Ltd - India
- Cigading International Bulk Terminal - Indonesia
- ASAPP Information Group - India
- Parliament of New Zealand
- Carbofer General Trading SA - India
- Sinarmas Energy and Mining - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- OPG Power Generation Pvt Ltd - India
- Ministry of Transport, Egypt
- Commonwealth Bank - Australia
- Sarangani Energy Corporation, Philippines
- Baramulti Group, Indonesia
- Goldman Sachs - Singapore
- PowerSource Philippines DevCo
- White Energy Company Limited
- Thai Mozambique Logistica
- Timah Investasi Mineral - Indoneisa
- Larsen & Toubro Limited - India
- Bharathi Cement Corporation - India
- Energy Development Corp, Philippines
- Ind-Barath Power Infra Limited - India
- Metalloyd Limited - United Kingdom
- Petron Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Leighton Contractors Pty Ltd - Australia
- Tamil Nadu electricity Board
- Coal and Oil Company - UAE
- The Treasury - Australian Government
- Romanian Commodities Exchange
- Port Waratah Coal Services - Australia
- Bayan Resources Tbk. - Indonesia
- Straits Asia Resources Limited - Singapore
- Banpu Public Company Limited - Thailand
- Indika Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Barasentosa Lestari - Indonesia
- London Commodity Brokers - England
- Krishnapatnam Port Company Ltd. - India
- Dalmia Cement Bharat India
- IEA Clean Coal Centre - UK
- GVK Power & Infra Limited - India
- Electricity Authority, New Zealand
- Malabar Cements Ltd - India
- Chettinad Cement Corporation Ltd - India
- India Bulls Power Limited - India
- Miang Besar Coal Terminal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
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