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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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Thursday, 22 August 13
PANAMAX : PERIOD MARKET IS STILL BEING LED BY STRONGER SENTIMENT IN THE FFA'S - FEARNRESEARCH
Handy
This week started slowly as expected. Indo biz now rate APS around 7k +60k to china and around 8k+80k to India. However, there are some ships ...
Wednesday, 21 August 13
DRY BULK SHIPPING - POSITIVE WINDOW FOR CAPESIZE OWNERS - PETER SAND
By: Peter Sand, Chief Shipping Analyst, BIMCO
Demand:
“Expect the unexpected from the dry bulk market” was what we wrote last time ar ...
Wednesday, 21 August 13
RATES FOR CAPES MOVED DECISIVELY NORTH THIS WEEK - INTERMODAL
COALspot.com - Right when the BDI seemed ready for another dive below the 1000 points level, the Dry Bulk market made significant comeback this week ...
Tuesday, 20 August 13
AUSTRALIA NEWCASTLE COAL EXPORTS FALL 19.15 PERCENT ON WEEK
COALspot.com: Power plant and semi-soft coking coal shipments from Australia's Newcastle port fell 19.15 per cent week on week to 2.39 million mt f ...
Tuesday, 20 August 13
CAPESIZE RATES MORE SENSITIVE TO DEMAND - COMMODORE RESEARCH & CONSULTANCY
COALspot.com : Approximately 71.50 million tons of iron ore is now stockpiled at Chinese ports, 900,000 tons (-1%) less than a week ago, Commodore R ...
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- Oldendorff Carriers - Singapore
- Bayan Resources Tbk. - Indonesia
- MS Steel International - UAE
- Kobexindo Tractors - Indoneisa
- Mintek Dendrill Indonesia
- ASAPP Information Group - India
- Intertek Mineral Services - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Meralco Power Generation, Philippines
- Sree Jayajothi Cements Limited - India
- Bhoruka Overseas - Indonesia
- Coalindo Energy - Indonesia
- Goldman Sachs - Singapore
- European Bulk Services B.V. - Netherlands
- Latin American Coal - Colombia
- Ministry of Transport, Egypt
- Singapore Mercantile Exchange
- Ministry of Finance - Indonesia
- Attock Cement Pakistan Limited
- Sojitz Corporation - Japan
- Port Waratah Coal Services - Australia
- Bhatia International Limited - India
- Energy Development Corp, Philippines
- Sindya Power Generating Company Private Ltd
- Sical Logistics Limited - India
- Electricity Generating Authority of Thailand
- Siam City Cement PLC, Thailand
- Kartika Selabumi Mining - Indonesia
- Pendopo Energi Batubara - Indonesia
- Semirara Mining Corp, Philippines
- Eastern Energy - Thailand
- Simpson Spence & Young - Indonesia
- Independent Power Producers Association of India
- OPG Power Generation Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Jindal Steel & Power Ltd - India
- Edison Trading Spa - Italy
- Minerals Council of Australia
- Agrawal Coal Company - India
- International Coal Ventures Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Medco Energi Mining Internasional
- Malabar Cements Ltd - India
- New Zealand Coal & Carbon
- ICICI Bank Limited - India
- Baramulti Group, Indonesia
- Economic Council, Georgia
- Interocean Group of Companies - India
- Kumho Petrochemical, South Korea
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- The State Trading Corporation of India Ltd
- McConnell Dowell - Australia
- Rashtriya Ispat Nigam Limited - India
- Chamber of Mines of South Africa
- Directorate General of MIneral and Coal - Indonesia
- Vedanta Resources Plc - India
- Timah Investasi Mineral - Indoneisa
- Georgia Ports Authority, United States
- Antam Resourcindo - Indonesia
- Aboitiz Power Corporation - Philippines
- Videocon Industries ltd - India
- Altura Mining Limited, Indonesia
- Marubeni Corporation - India
- Mjunction Services Limited - India
- Dalmia Cement Bharat India
- SMG Consultants - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Vizag Seaport Private Limited - India
- Parliament of New Zealand
- Energy Link Ltd, New Zealand
- Deloitte Consulting - India
- Tamil Nadu electricity Board
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Toyota Tsusho Corporation, Japan
- Bahari Cakrawala Sebuku - Indonesia
- Africa Commodities Group - South Africa
- White Energy Company Limited
- Makarim & Taira - Indonesia
- Mercuria Energy - Indonesia
- Cement Manufacturers Association - India
- Bulk Trading Sa - Switzerland
- Neyveli Lignite Corporation Ltd, - India
- Bangladesh Power Developement Board
- Binh Thuan Hamico - Vietnam
- Star Paper Mills Limited - India
- Coal and Oil Company - UAE
- Grasim Industreis Ltd - India
- Xindia Steels Limited - India
- Electricity Authority, New Zealand
- Essar Steel Hazira Ltd - India
- Australian Coal Association
- TeaM Sual Corporation - Philippines
- GMR Energy Limited - India
- Therma Luzon, Inc, Philippines
- Siam City Cement - Thailand
- Indika Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Anglo American - United Kingdom
- Global Green Power PLC Corporation, Philippines
- Wood Mackenzie - Singapore
- Eastern Coal Council - USA
- Indian Oil Corporation Limited
- Planning Commission, India
- Bukit Makmur.PT - Indonesia
- Larsen & Toubro Limited - India
- Kapuas Tunggal Persada - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Indian Energy Exchange, India
- Straits Asia Resources Limited - Singapore
- Australian Commodity Traders Exchange
- Holcim Trading Pte Ltd - Singapore
- Standard Chartered Bank - UAE
- Savvy Resources Ltd - HongKong
- Romanian Commodities Exchange
- Indogreen Group - Indonesia
- Meenaskhi Energy Private Limited - India
- Gujarat Sidhee Cement - India
- Krishnapatnam Port Company Ltd. - India
- Ministry of Mines - Canada
- Manunggal Multi Energi - Indonesia
- Global Coal Blending Company Limited - Australia
- Madhucon Powers Ltd - India
- PowerSource Philippines DevCo
- Price Waterhouse Coopers - Russia
- Alfred C Toepfer International GmbH - Germany
- Asmin Koalindo Tuhup - Indonesia
- Sakthi Sugars Limited - India
- GVK Power & Infra Limited - India
- Indo Tambangraya Megah - Indonesia
- VISA Power Limited - India
- Kideco Jaya Agung - Indonesia
- Uttam Galva Steels Limited - India
- LBH Netherlands Bv - Netherlands
- Orica Australia Pty. Ltd.
- Sinarmas Energy and Mining - Indonesia
- Petron Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Kepco SPC Power Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- The University of Queensland
- Barasentosa Lestari - Indonesia
- Trasteel International SA, Italy
- IHS Mccloskey Coal Group - USA
- PTC India Limited - India
- Directorate Of Revenue Intelligence - India
- Kohat Cement Company Ltd. - Pakistan
- IEA Clean Coal Centre - UK
- Cigading International Bulk Terminal - Indonesia
- Ambuja Cements Ltd - India
- SN Aboitiz Power Inc, Philippines
- Formosa Plastics Group - Taiwan
- GAC Shipping (India) Pvt Ltd
- Global Business Power Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Commonwealth Bank - Australia
- Iligan Light & Power Inc, Philippines
- Thiess Contractors Indonesia
- Ceylon Electricity Board - Sri Lanka
- Bharathi Cement Corporation - India
- Ind-Barath Power Infra Limited - India
- Karaikal Port Pvt Ltd - India
- Borneo Indobara - Indonesia
- Samtan Co., Ltd - South Korea
- The Treasury - Australian Government
- Central Electricity Authority - India
- Rio Tinto Coal - Australia
- SMC Global Power, Philippines
- AsiaOL BioFuels Corp., Philippines
- India Bulls Power Limited - India
- Gujarat Electricity Regulatory Commission - India
- Aditya Birla Group - India
- Renaissance Capital - South Africa
- Merrill Lynch Commodities Europe
- CIMB Investment Bank - Malaysia
- Maheswari Brothers Coal Limited - India
- Orica Mining Services - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Maharashtra Electricity Regulatory Commission - India
- Tata Chemicals Ltd - India
- Metalloyd Limited - United Kingdom
- Carbofer General Trading SA - India
- Kaltim Prima Coal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Heidelberg Cement - Germany
- Vijayanagar Sugar Pvt Ltd - India
- Bhushan Steel Limited - India
- South Luzon Thermal Energy Corporation
- Lanco Infratech Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- London Commodity Brokers - England
- Power Finance Corporation Ltd., India
- Parry Sugars Refinery, India
- PNOC Exploration Corporation - Philippines
- Chettinad Cement Corporation Ltd - India
- Indonesian Coal Mining Association
- San Jose City I Power Corp, Philippines
- Salva Resources Pvt Ltd - India
- CNBM International Corporation - China
- Wilmar Investment Holdings
- Posco Energy - South Korea
- Gujarat Mineral Development Corp Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Jaiprakash Power Ventures ltd
- Sarangani Energy Corporation, Philippines
- Mercator Lines Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Thai Mozambique Logistica
- Central Java Power - Indonesia
- Bukit Baiduri Energy - Indonesia
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