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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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Tuesday, 27 August 13
AUSTRALIA NEWCASTLE COAL EXPORTS JUMPED 15.59 PERCENT ON WEEK
COALspot.com: Power plant and semi-soft coking coal shipments from Australia's Newcastle port up 15.59 per cent week on week to 2.76 million mt for ...
Monday, 26 August 13
CARRIAGE OF COAL CARGOES FROM KALIMANTAN, INDONESIA - WEST OF ENGLAND P&I CLUB
The Club has recently been advised by consulting scientists and engineers Dr J H Burgoyne and Partners (International) Limited that the number of in ...
Sunday, 25 August 13
API 8 CFR SOUTH CHINA COAL: HEADING TO NORTH
COALspot.com – Sub-Bit Indonesia coal swaps (FOB ) for average Q4 2013 delivery US$ 2.39 up month on month. The swap was moved positive ...
Sunday, 25 August 13
THE FREIGHT MARKET S7 & S8 SECTOR IS EXPECTED TO BE STEADY/FIRM NEXT WEEK - VISTAAR
COALspot.com - The freight market continued to be firm with all indices moved positive except for Panamax which was slightly down (2 pct down).
T ...
Friday, 23 August 13
US PRODUCED MORE COAL WEEK ON WEEK - EIA
COALspot.com – United states the world’s second largest coal producer produced totaled approximately 20.80 million short tons (mmst) of ...
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- Indian Energy Exchange, India
- Tamil Nadu electricity Board
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Star Paper Mills Limited - India
- Xindia Steels Limited - India
- LBH Netherlands Bv - Netherlands
- Port Waratah Coal Services - Australia
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- Energy Development Corp, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Videocon Industries ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Commonwealth Bank - Australia
- IEA Clean Coal Centre - UK
- Intertek Mineral Services - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Baramulti Group, Indonesia
- Globalindo Alam Lestari - Indonesia
- Binh Thuan Hamico - Vietnam
- Coastal Gujarat Power Limited - India
- The State Trading Corporation of India Ltd
- Bangladesh Power Developement Board
- Bhushan Steel Limited - India
- Oldendorff Carriers - Singapore
- Global Coal Blending Company Limited - Australia
- Formosa Plastics Group - Taiwan
- Petron Corporation, Philippines
- Australian Coal Association
- Maheswari Brothers Coal Limited - India
- Georgia Ports Authority, United States
- Malabar Cements Ltd - India
- Antam Resourcindo - Indonesia
- MS Steel International - UAE
- Bhoruka Overseas - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Gujarat Mineral Development Corp Ltd - India
- Rio Tinto Coal - Australia
- IHS Mccloskey Coal Group - USA
- Jindal Steel & Power Ltd - India
- Meralco Power Generation, Philippines
- Mercator Lines Limited - India
- Barasentosa Lestari - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Posco Energy - South Korea
- Australian Commodity Traders Exchange
- Trasteel International SA, Italy
- Holcim Trading Pte Ltd - Singapore
- Orica Mining Services - Indonesia
- Anglo American - United Kingdom
- Borneo Indobara - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Bukit Baiduri Energy - Indonesia
- Indian Oil Corporation Limited
- Ministry of Finance - Indonesia
- Bukit Makmur.PT - Indonesia
- Siam City Cement - Thailand
- Krishnapatnam Port Company Ltd. - India
- Economic Council, Georgia
- Heidelberg Cement - Germany
- Sakthi Sugars Limited - India
- Sojitz Corporation - Japan
- Mjunction Services Limited - India
- Essar Steel Hazira Ltd - India
- Indonesian Coal Mining Association
- Meenaskhi Energy Private Limited - India
- The Treasury - Australian Government
- SMC Global Power, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Wilmar Investment Holdings
- Parliament of New Zealand
- Interocean Group of Companies - India
- Aboitiz Power Corporation - Philippines
- Jaiprakash Power Ventures ltd
- Kaltim Prima Coal - Indonesia
- Romanian Commodities Exchange
- Altura Mining Limited, Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Medco Energi Mining Internasional
- Grasim Industreis Ltd - India
- Cement Manufacturers Association - India
- Directorate Of Revenue Intelligence - India
- Lanco Infratech Ltd - India
- Banpu Public Company Limited - Thailand
- Aditya Birla Group - India
- London Commodity Brokers - England
- Central Electricity Authority - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Madhucon Powers Ltd - India
- India Bulls Power Limited - India
- Kapuas Tunggal Persada - Indonesia
- Siam City Cement PLC, Thailand
- Samtan Co., Ltd - South Korea
- Larsen & Toubro Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Tata Chemicals Ltd - India
- Attock Cement Pakistan Limited
- PetroVietnam Power Coal Import and Supply Company
- Indo Tambangraya Megah - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Merrill Lynch Commodities Europe
- GAC Shipping (India) Pvt Ltd
- Planning Commission, India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kideco Jaya Agung - Indonesia
- Manunggal Multi Energi - Indonesia
- Sical Logistics Limited - India
- Semirara Mining and Power Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Marubeni Corporation - India
- Ambuja Cements Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- ICICI Bank Limited - India
- Carbofer General Trading SA - India
- Global Green Power PLC Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Agrawal Coal Company - India
- Goldman Sachs - Singapore
- VISA Power Limited - India
- Ministry of Mines - Canada
- Price Waterhouse Coopers - Russia
- Ind-Barath Power Infra Limited - India
- Vizag Seaport Private Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Renaissance Capital - South Africa
- Kumho Petrochemical, South Korea
- SN Aboitiz Power Inc, Philippines
- Indika Energy - Indonesia
- Vedanta Resources Plc - India
- San Jose City I Power Corp, Philippines
- Electricity Authority, New Zealand
- Rashtriya Ispat Nigam Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Savvy Resources Ltd - HongKong
- Simpson Spence & Young - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Wood Mackenzie - Singapore
- Maharashtra Electricity Regulatory Commission - India
- GN Power Mariveles Coal Plant, Philippines
- PTC India Limited - India
- Gujarat Sidhee Cement - India
- PowerSource Philippines DevCo
- Bayan Resources Tbk. - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Sree Jayajothi Cements Limited - India
- Kobexindo Tractors - Indoneisa
- Dalmia Cement Bharat India
- Thai Mozambique Logistica
- ASAPP Information Group - India
- Gujarat Electricity Regulatory Commission - India
- Africa Commodities Group - South Africa
- Singapore Mercantile Exchange
- Bharathi Cement Corporation - India
- Standard Chartered Bank - UAE
- Electricity Generating Authority of Thailand
- Kalimantan Lumbung Energi - Indonesia
- CNBM International Corporation - China
- McConnell Dowell - Australia
- Global Business Power Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- White Energy Company Limited
- Riau Bara Harum - Indonesia
- Mercuria Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Minerals Council of Australia
- GMR Energy Limited - India
- Ministry of Transport, Egypt
- GVK Power & Infra Limited - India
- Bulk Trading Sa - Switzerland
- Semirara Mining Corp, Philippines
- Coal and Oil Company - UAE
- SMG Consultants - Indonesia
- Energy Link Ltd, New Zealand
- The University of Queensland
- OPG Power Generation Pvt Ltd - India
- Thiess Contractors Indonesia
- European Bulk Services B.V. - Netherlands
- Therma Luzon, Inc, Philippines
- Straits Asia Resources Limited - Singapore
- Sindya Power Generating Company Private Ltd
- Mintek Dendrill Indonesia
- Billiton Holdings Pty Ltd - Australia
- Bhatia International Limited - India
- Power Finance Corporation Ltd., India
- Parry Sugars Refinery, India
- TeaM Sual Corporation - Philippines
- PNOC Exploration Corporation - Philippines
- Salva Resources Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Chamber of Mines of South Africa
- Makarim & Taira - Indonesia
- Sarangani Energy Corporation, Philippines
- Deloitte Consulting - India
- Orica Australia Pty. Ltd.
- Toyota Tsusho Corporation, Japan
- Edison Trading Spa - Italy
- South Luzon Thermal Energy Corporation
- Alfred C Toepfer International GmbH - Germany
- Iligan Light & Power Inc, Philippines
- Latin American Coal - Colombia
- Miang Besar Coal Terminal - Indonesia
- Independent Power Producers Association of India
- Eastern Coal Council - USA
- Timah Investasi Mineral - Indoneisa
- Kartika Selabumi Mining - Indonesia
- Eastern Energy - Thailand
- Indogreen Group - Indonesia
- Central Java Power - Indonesia
- International Coal Ventures Pvt Ltd - India
- Coalindo Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Directorate General of MIneral and Coal - Indonesia
- Cigading International Bulk Terminal - Indonesia
- New Zealand Coal & Carbon
- Uttam Galva Steels Limited - India
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