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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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Wednesday, 07 August 13
HANDIES : FINDING IT DIFFICULT TO SUSTAIN THEIR PREVIOUS LEVELS - KONSTANTINOS KONTOMICHIS
Broker's insight
by Konstantinos Kontomichis,
SnP Broker
Entering the most predictable month of the year, as expected the seasonal effects ha ...
Tuesday, 06 August 13
UNLEASHING SHALE GAS POTENTIAL AS A GLOBAL ENERGY GAME CHANGER
In its 4th year running, the Annual Shale Gas Conference will bring leaders from North American shale gas operators, key Asian regulators, multi ...
Tuesday, 06 August 13
GBCE APPOINTS BENJAMIN WILEY AS NEW MANAGING DIRECTOR
COALspot.com : GB Clean Energy Ltd. (GBCE) announced today that Mr. Benjamin Wiley has been appointed as Managing Director.
Mr. Wiley has ...
Tuesday, 06 August 13
AUSTRALIAN NEWCASTLE PORT'S COAL EXPORTS FALL 23.16 PERCENT ON WEEK TO 2.26 MMT
COALspot.com: Power plant and semi-soft coking coal shipments from Australia's Newcastle port fell 15.8 percent week on week to 2.26 million mt for ...
Monday, 05 August 13
PAPERLESS TRADING (ELECTRONIC BILLS OF LADING) - FREQUENTLY ASKED QUESTIONS ("FAQS") - UK P&I CLUB
A number of Members have contacted the Club with queries regarding the use of electronic bills of lading and any potential consequences for P&I ...
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- Bukit Makmur.PT - Indonesia
- Orica Australia Pty. Ltd.
- Parry Sugars Refinery, India
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- Bhoruka Overseas - Indonesia
- Parliament of New Zealand
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- Kapuas Tunggal Persada - Indonesia
- The State Trading Corporation of India Ltd
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- Coalindo Energy - Indonesia
- Economic Council, Georgia
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- Metalloyd Limited - United Kingdom
- Central Java Power - Indonesia
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- Pendopo Energi Batubara - Indonesia
- Directorate Of Revenue Intelligence - India
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- Samtan Co., Ltd - South Korea
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- The University of Queensland
- Sojitz Corporation - Japan
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- Eastern Energy - Thailand
- AsiaOL BioFuels Corp., Philippines
- Formosa Plastics Group - Taiwan
- The Treasury - Australian Government
- India Bulls Power Limited - India
- Central Electricity Authority - India
- Ind-Barath Power Infra Limited - India
- Tamil Nadu electricity Board
- Bharathi Cement Corporation - India
- Bukit Baiduri Energy - Indonesia
- Thai Mozambique Logistica
- Australian Commodity Traders Exchange
- Meralco Power Generation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Siam City Cement - Thailand
- Minerals Council of Australia
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- Madhucon Powers Ltd - India
- OPG Power Generation Pvt Ltd - India
- Georgia Ports Authority, United States
- Wood Mackenzie - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Port Waratah Coal Services - Australia
- Bangladesh Power Developement Board
- Kideco Jaya Agung - Indonesia
- Coal and Oil Company - UAE
- Timah Investasi Mineral - Indoneisa
- Merrill Lynch Commodities Europe
- GN Power Mariveles Coal Plant, Philippines
- Gujarat Sidhee Cement - India
- Asmin Koalindo Tuhup - Indonesia
- Planning Commission, India
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- Baramulti Group, Indonesia
- GMR Energy Limited - India
- Sinarmas Energy and Mining - Indonesia
- Antam Resourcindo - Indonesia
- CNBM International Corporation - China
- Banpu Public Company Limited - Thailand
- PowerSource Philippines DevCo
- SMC Global Power, Philippines
- Gujarat Electricity Regulatory Commission - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Coastal Gujarat Power Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mjunction Services Limited - India
- MS Steel International - UAE
- Indian Energy Exchange, India
- White Energy Company Limited
- Bukit Asam (Persero) Tbk - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Mercuria Energy - Indonesia
- Petron Corporation, Philippines
- Dalmia Cement Bharat India
- Interocean Group of Companies - India
- Latin American Coal - Colombia
- Xindia Steels Limited - India
- Intertek Mineral Services - Indonesia
- Agrawal Coal Company - India
- Straits Asia Resources Limited - Singapore
- Standard Chartered Bank - UAE
- Maheswari Brothers Coal Limited - India
- Heidelberg Cement - Germany
- Grasim Industreis Ltd - India
- Siam City Cement PLC, Thailand
- Sindya Power Generating Company Private Ltd
- Orica Mining Services - Indonesia
- Anglo American - United Kingdom
- Deloitte Consulting - India
- Kumho Petrochemical, South Korea
- TNB Fuel Sdn Bhd - Malaysia
- Miang Besar Coal Terminal - Indonesia
- IEA Clean Coal Centre - UK
- Bhatia International Limited - India
- Indian Oil Corporation Limited
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Bayan Resources Tbk. - Indonesia
- SMG Consultants - Indonesia
- Marubeni Corporation - India
- Aboitiz Power Corporation - Philippines
- Billiton Holdings Pty Ltd - Australia
- Gujarat Mineral Development Corp Ltd - India
- Ministry of Transport, Egypt
- LBH Netherlands Bv - Netherlands
- Therma Luzon, Inc, Philippines
- SN Aboitiz Power Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Salva Resources Pvt Ltd - India
- Larsen & Toubro Limited - India
- Bhushan Steel Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Ambuja Cements Ltd - India
- Mintek Dendrill Indonesia
- Ministry of Finance - Indonesia
- Semirara Mining Corp, Philippines
- Romanian Commodities Exchange
- Mercator Lines Limited - India
- Renaissance Capital - South Africa
- Energy Link Ltd, New Zealand
- VISA Power Limited - India
- Australian Coal Association
- IHS Mccloskey Coal Group - USA
- Attock Cement Pakistan Limited
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Globalindo Alam Lestari - Indonesia
- TeaM Sual Corporation - Philippines
- Barasentosa Lestari - Indonesia
- Meenaskhi Energy Private Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- European Bulk Services B.V. - Netherlands
- London Commodity Brokers - England
- Manunggal Multi Energi - Indonesia
- McConnell Dowell - Australia
- Posco Energy - South Korea
- ICICI Bank Limited - India
- Alfred C Toepfer International GmbH - Germany
- Price Waterhouse Coopers - Russia
- Star Paper Mills Limited - India
- Malabar Cements Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Altura Mining Limited, Indonesia
- Indonesian Coal Mining Association
- Sree Jayajothi Cements Limited - India
- Edison Trading Spa - Italy
- Directorate General of MIneral and Coal - Indonesia
- CIMB Investment Bank - Malaysia
- Indo Tambangraya Megah - Indonesia
- Makarim & Taira - Indonesia
- Commonwealth Bank - Australia
- Binh Thuan Hamico - Vietnam
- Lanco Infratech Ltd - India
- Electricity Generating Authority of Thailand
- Vizag Seaport Private Limited - India
- PTC India Limited - India
- Cement Manufacturers Association - India
- Simpson Spence & Young - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Oldendorff Carriers - Singapore
- Independent Power Producers Association of India
- Trasteel International SA, Italy
- San Jose City I Power Corp, Philippines
- Singapore Mercantile Exchange
- Global Green Power PLC Corporation, Philippines
- New Zealand Coal & Carbon
- ASAPP Information Group - India
- Electricity Authority, New Zealand
- Africa Commodities Group - South Africa
- Neyveli Lignite Corporation Ltd, - India
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- Medco Energi Mining Internasional
- Sical Logistics Limited - India
- GAC Shipping (India) Pvt Ltd
- Global Coal Blending Company Limited - Australia
- Power Finance Corporation Ltd., India
- Chamber of Mines of South Africa
- Rio Tinto Coal - Australia
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