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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, 18 August 13
SUB-BIT FOB INDONESIA COAL SWAP : ON POSITIVE DIRECTION ON DAY, WEEK AND MONTH
COALspot.com – Sub-Bit Indonesia coal swaps (FOB ) for average Q4 2013 delivery US$ 1.83 up month on month. The swap was moved positive ...
Sunday, 18 August 13
INDO - INDIA FREIGHT EXPECTED TO BE FIRM NEXT WEEK - VISTAAR
COALspot.com - The freight market was up this week with the BDI gaining more than 10 pct due to strong Cape Sector.
The BDI was closed at 1,102 p ...
Friday, 16 August 13
US COAL PRODUCTION SLIGHTLY UP ON WEEK
COALspot.com – United states the world’s second largest coal producer produced totaled approximately 20.10 million short tons (mmst) of ...
Thursday, 15 August 13
CAPESIZE : TRENDS SOMETIMES SHIFT WITH NO PRIOR WARNING - FEARNRESEARCH
Handy
The influence of the summer holidays across Europe was felt in the Atlantic basin this week. Very little activity and a growing list of avail ...
Wednesday, 14 August 13
ANOTHER WEEK IN THE RED FOR DRY BULK CARRIERS - INTERMODAL
Chartering (Wet: Stable- / Dry: Stable- )
Another week in the red for Dry Bulk carriers with the market losing further steam as fewer an ...
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- International Coal Ventures Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Kumho Petrochemical, South Korea
- Aboitiz Power Corporation - Philippines
- McConnell Dowell - Australia
- Sarangani Energy Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Krishnapatnam Port Company Ltd. - India
- ASAPP Information Group - India
- Singapore Mercantile Exchange
- Borneo Indobara - Indonesia
- Formosa Plastics Group - Taiwan
- The State Trading Corporation of India Ltd
- PowerSource Philippines DevCo
- Ministry of Finance - Indonesia
- Vizag Seaport Private Limited - India
- Videocon Industries ltd - India
- Rio Tinto Coal - Australia
- Xindia Steels Limited - India
- Wilmar Investment Holdings
- Australian Coal Association
- Semirara Mining Corp, Philippines
- IEA Clean Coal Centre - UK
- Intertek Mineral Services - Indonesia
- Bangladesh Power Developement Board
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- Mercator Lines Limited - India
- Bhatia International Limited - India
- Merrill Lynch Commodities Europe
- Carbofer General Trading SA - India
- Parry Sugars Refinery, India
- Romanian Commodities Exchange
- SMG Consultants - Indonesia
- Meenaskhi Energy Private Limited - India
- Samtan Co., Ltd - South Korea
- Sojitz Corporation - Japan
- Wood Mackenzie - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- GMR Energy Limited - India
- Simpson Spence & Young - Indonesia
- OPG Power Generation Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Cigading International Bulk Terminal - Indonesia
- Madhucon Powers Ltd - India
- Coalindo Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Bukit Baiduri Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Straits Asia Resources Limited - Singapore
- Siam City Cement - Thailand
- AsiaOL BioFuels Corp., Philippines
- New Zealand Coal & Carbon
- SN Aboitiz Power Inc, Philippines
- Interocean Group of Companies - India
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- Tamil Nadu electricity Board
- GN Power Mariveles Coal Plant, Philippines
- Directorate Of Revenue Intelligence - India
- Sakthi Sugars Limited - India
- Mercuria Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Maharashtra Electricity Regulatory Commission - India
- Sree Jayajothi Cements Limited - India
- San Jose City I Power Corp, Philippines
- Global Business Power Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- White Energy Company Limited
- Thai Mozambique Logistica
- South Luzon Thermal Energy Corporation
- Standard Chartered Bank - UAE
- Bayan Resources Tbk. - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Trasteel International SA, Italy
- Electricity Generating Authority of Thailand
- Oldendorff Carriers - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Tata Chemicals Ltd - India
- Africa Commodities Group - South Africa
- Timah Investasi Mineral - Indoneisa
- Marubeni Corporation - India
- Goldman Sachs - Singapore
- Eastern Energy - Thailand
- Global Green Power PLC Corporation, Philippines
- Medco Energi Mining Internasional
- Banpu Public Company Limited - Thailand
- Malabar Cements Ltd - India
- Jindal Steel & Power Ltd - India
- Heidelberg Cement - Germany
- Renaissance Capital - South Africa
- Kepco SPC Power Corporation, Philippines
- Energy Link Ltd, New Zealand
- Kartika Selabumi Mining - Indonesia
- Eastern Coal Council - USA
- Chamber of Mines of South Africa
- Ambuja Cements Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Parliament of New Zealand
- CIMB Investment Bank - Malaysia
- Manunggal Multi Energi - Indonesia
- Indian Oil Corporation Limited
- Port Waratah Coal Services - Australia
- Ceylon Electricity Board - Sri Lanka
- Maheswari Brothers Coal Limited - India
- Toyota Tsusho Corporation, Japan
- Bhushan Steel Limited - India
- Price Waterhouse Coopers - Russia
- Globalindo Alam Lestari - Indonesia
- Vedanta Resources Plc - India
- Karaikal Port Pvt Ltd - India
- Electricity Authority, New Zealand
- London Commodity Brokers - England
- Indogreen Group - Indonesia
- Thiess Contractors Indonesia
- Chettinad Cement Corporation Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mintek Dendrill Indonesia
- Sindya Power Generating Company Private Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Ministry of Mines - Canada
- Dalmia Cement Bharat India
- Kaltim Prima Coal - Indonesia
- SMC Global Power, Philippines
- Semirara Mining and Power Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bulk Trading Sa - Switzerland
- Savvy Resources Ltd - HongKong
- Makarim & Taira - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Sical Logistics Limited - India
- Lanco Infratech Ltd - India
- Iligan Light & Power Inc, Philippines
- PNOC Exploration Corporation - Philippines
- Planning Commission, India
- Edison Trading Spa - Italy
- PetroVietnam Power Coal Import and Supply Company
- Billiton Holdings Pty Ltd - Australia
- Indo Tambangraya Megah - Indonesia
- Salva Resources Pvt Ltd - India
- Baramulti Group, Indonesia
- MS Steel International - UAE
- Riau Bara Harum - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Central Electricity Authority - India
- Anglo American - United Kingdom
- LBH Netherlands Bv - Netherlands
- Georgia Ports Authority, United States
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mjunction Services Limited - India
- Larsen & Toubro Limited - India
- Commonwealth Bank - Australia
- Directorate General of MIneral and Coal - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Australian Commodity Traders Exchange
- Bukit Makmur.PT - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Antam Resourcindo - Indonesia
- Barasentosa Lestari - Indonesia
- Agrawal Coal Company - India
- Meralco Power Generation, Philippines
- Aditya Birla Group - India
- Indonesian Coal Mining Association
- Coastal Gujarat Power Limited - India
- Alfred C Toepfer International GmbH - Germany
- Asmin Koalindo Tuhup - Indonesia
- Posco Energy - South Korea
- Altura Mining Limited, Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Minerals Council of Australia
- Ministry of Transport, Egypt
- GAC Shipping (India) Pvt Ltd
- Power Finance Corporation Ltd., India
- Kohat Cement Company Ltd. - Pakistan
- Holcim Trading Pte Ltd - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Attock Cement Pakistan Limited
- Gujarat Sidhee Cement - India
- Uttam Galva Steels Limited - India
- Indian Energy Exchange, India
- Grasim Industreis Ltd - India
- Coal and Oil Company - UAE
- Orica Australia Pty. Ltd.
- India Bulls Power Limited - India
- Essar Steel Hazira Ltd - India
- ICICI Bank Limited - India
- Kobexindo Tractors - Indoneisa
- Central Java Power - Indonesia
- GVK Power & Infra Limited - India
- Gujarat Mineral Development Corp Ltd - India
- The University of Queensland
- IHS Mccloskey Coal Group - USA
- Independent Power Producers Association of India
- Metalloyd Limited - United Kingdom
- Energy Development Corp, Philippines
- VISA Power Limited - India
- Indika Energy - Indonesia
- Economic Council, Georgia
- Ind-Barath Power Infra Limited - India
- Gujarat Electricity Regulatory Commission - India
- Pendopo Energi Batubara - Indonesia
- Cement Manufacturers Association - India
- Therma Luzon, Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Asia Pacific Energy Resources Ventures Inc, Philippines
- TeaM Sual Corporation - Philippines
- The Treasury - Australian Government
- Siam City Cement PLC, Thailand
- Vijayanagar Sugar Pvt Ltd - India
- CNBM International Corporation - China
- Deloitte Consulting - India
- Orica Mining Services - Indonesia
- PTC India Limited - India
- Bharathi Cement Corporation - India
- Petron Corporation, Philippines
- Latin American Coal - Colombia
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