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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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Saturday, 27 July 13
INDONESIA TO INDIA SUPRAMAX FREIGHT RATES ARE EXPECTED TO REMAIN STEADY - CAPT.REDDY
COALspot.com : The freight market seemed to soften this week with BDI , Cape and Panamax indices dropped average 5 percent on week.
The BDI was d ...
Thursday, 25 July 13
CAPESIZE : PACIFIC AND ATLANTIC RATES ARE HOLDING STEADY - FEARNLEYS AS
Handy
The Far East market remains quiet even if some Indo coal trip orders were fed in the market at early this week. Prompt ships passing Singapor ...
Thursday, 25 July 13
SUMMER LULL CHIPPING AWAY RECENT GAINS IN DRY BULK FREIGHT RATES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
In what seems to be establishing as a permanent trend, at least for the time being, the dry bulk market kept on retreating yesterday, even if this r ...
Tuesday, 23 July 13
NEWCASTLE'S COAL EXPORTS CLIMB 17.82% ON WEEK, PORT'S DATA SHOWS
COALspot.com: Newcastle port in Australia has loaded 3,369,865 tons of coal for the week ended 0700 hours 22 July 2013, Newcastle Port Corp. s ...
Monday, 22 July 13
DRY BULK MARKET DIFFICULT TO MAINTAIN POSITIVE DRIVE CLAIMS SHIPBROKER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has seen a significant recovery in recent weeks, leading most ship classes to earnings above their operating expenses, thus brin ...
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- Bukit Baiduri Energy - Indonesia
- India Bulls Power Limited - India
- Marubeni Corporation - India
- Global Business Power Corporation, Philippines
- Lanco Infratech Ltd - India
- Grasim Industreis Ltd - India
- Chettinad Cement Corporation Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Formosa Plastics Group - Taiwan
- Indonesian Coal Mining Association
- Jindal Steel & Power Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Sindya Power Generating Company Private Ltd
- Thiess Contractors Indonesia
- Toyota Tsusho Corporation, Japan
- Tamil Nadu electricity Board
- South Luzon Thermal Energy Corporation
- Meralco Power Generation, Philippines
- Bayan Resources Tbk. - Indonesia
- Ministry of Transport, Egypt
- Offshore Bulk Terminal Pte Ltd, Singapore
- Intertek Mineral Services - Indonesia
- Iligan Light & Power Inc, Philippines
- Aditya Birla Group - India
- SMC Global Power, Philippines
- Ministry of Mines - Canada
- Larsen & Toubro Limited - India
- Maheswari Brothers Coal Limited - India
- McConnell Dowell - Australia
- Jaiprakash Power Ventures ltd
- Bukit Asam (Persero) Tbk - Indonesia
- SN Aboitiz Power Inc, Philippines
- Meenaskhi Energy Private Limited - India
- Salva Resources Pvt Ltd - India
- Indogreen Group - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Independent Power Producers Association of India
- Uttam Galva Steels Limited - India
- Riau Bara Harum - Indonesia
- Wood Mackenzie - Singapore
- Siam City Cement - Thailand
- PTC India Limited - India
- Oldendorff Carriers - Singapore
- Directorate Of Revenue Intelligence - India
- Baramulti Group, Indonesia
- AsiaOL BioFuels Corp., Philippines
- Power Finance Corporation Ltd., India
- Binh Thuan Hamico - Vietnam
- Trasteel International SA, Italy
- Simpson Spence & Young - Indonesia
- Kideco Jaya Agung - Indonesia
- Banpu Public Company Limited - Thailand
- Bhushan Steel Limited - India
- Xindia Steels Limited - India
- Standard Chartered Bank - UAE
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Savvy Resources Ltd - HongKong
- Eastern Energy - Thailand
- Coalindo Energy - Indonesia
- Dalmia Cement Bharat India
- IEA Clean Coal Centre - UK
- Ind-Barath Power Infra Limited - India
- Miang Besar Coal Terminal - Indonesia
- Global Coal Blending Company Limited - Australia
- ASAPP Information Group - India
- Energy Development Corp, Philippines
- Antam Resourcindo - Indonesia
- Coal and Oil Company - UAE
- Posco Energy - South Korea
- Tata Chemicals Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Thai Mozambique Logistica
- Alfred C Toepfer International GmbH - Germany
- Therma Luzon, Inc, Philippines
- Deloitte Consulting - India
- Indika Energy - Indonesia
- London Commodity Brokers - England
- Medco Energi Mining Internasional
- Mjunction Services Limited - India
- ICICI Bank Limited - India
- Barasentosa Lestari - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bharathi Cement Corporation - India
- Attock Cement Pakistan Limited
- Videocon Industries ltd - India
- Port Waratah Coal Services - Australia
- Bangladesh Power Developement Board
- Bhoruka Overseas - Indonesia
- Renaissance Capital - South Africa
- Central Java Power - Indonesia
- MS Steel International - UAE
- Karaikal Port Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- European Bulk Services B.V. - Netherlands
- Mercuria Energy - Indonesia
- Sakthi Sugars Limited - India
- Siam City Cement PLC, Thailand
- Anglo American - United Kingdom
- Semirara Mining and Power Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Price Waterhouse Coopers - Russia
- The Treasury - Australian Government
- Kapuas Tunggal Persada - Indonesia
- Ministry of Finance - Indonesia
- Gujarat Sidhee Cement - India
- Minerals Council of Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Coastal Gujarat Power Limited - India
- IHS Mccloskey Coal Group - USA
- Holcim Trading Pte Ltd - Singapore
- Kohat Cement Company Ltd. - Pakistan
- PowerSource Philippines DevCo
- GAC Shipping (India) Pvt Ltd
- Parry Sugars Refinery, India
- Directorate General of MIneral and Coal - Indonesia
- Economic Council, Georgia
- LBH Netherlands Bv - Netherlands
- Orica Australia Pty. Ltd.
- Billiton Holdings Pty Ltd - Australia
- Agrawal Coal Company - India
- Indian Oil Corporation Limited
- Merrill Lynch Commodities Europe
- Electricity Authority, New Zealand
- Georgia Ports Authority, United States
- Timah Investasi Mineral - Indoneisa
- Cigading International Bulk Terminal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Bulk Trading Sa - Switzerland
- Heidelberg Cement - Germany
- Africa Commodities Group - South Africa
- Karbindo Abesyapradhi - Indoneisa
- Sarangani Energy Corporation, Philippines
- The State Trading Corporation of India Ltd
- Edison Trading Spa - Italy
- Vizag Seaport Private Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Parliament of New Zealand
- OPG Power Generation Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Interocean Group of Companies - India
- Mintek Dendrill Indonesia
- CNBM International Corporation - China
- Orica Mining Services - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Krishnapatnam Port Company Ltd. - India
- GMR Energy Limited - India
- International Coal Ventures Pvt Ltd - India
- Commonwealth Bank - Australia
- PetroVietnam Power Coal Import and Supply Company
- Gujarat Electricity Regulatory Commission - India
- Borneo Indobara - Indonesia
- Indian Energy Exchange, India
- GN Power Mariveles Coal Plant, Philippines
- Chamber of Mines of South Africa
- Aboitiz Power Corporation - Philippines
- Singapore Mercantile Exchange
- Goldman Sachs - Singapore
- CIMB Investment Bank - Malaysia
- Kartika Selabumi Mining - Indonesia
- Samtan Co., Ltd - South Korea
- Bukit Makmur.PT - Indonesia
- Madhucon Powers Ltd - India
- Rio Tinto Coal - Australia
- Sical Logistics Limited - India
- Indo Tambangraya Megah - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Manunggal Multi Energi - Indonesia
- Carbofer General Trading SA - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Cement Manufacturers Association - India
- Sojitz Corporation - Japan
- Metalloyd Limited - United Kingdom
- Kumho Petrochemical, South Korea
- San Jose City I Power Corp, Philippines
- PNOC Exploration Corporation - Philippines
- Kalimantan Lumbung Energi - Indonesia
- Global Green Power PLC Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Altura Mining Limited, Indonesia
- White Energy Company Limited
- Ambuja Cements Ltd - India
- Makarim & Taira - Indonesia
- Petron Corporation, Philippines
- Electricity Generating Authority of Thailand
- Energy Link Ltd, New Zealand
- Central Electricity Authority - India
- Jorong Barutama Greston.PT - Indonesia
- GVK Power & Infra Limited - India
- Mercator Lines Limited - India
- Australian Coal Association
- Romanian Commodities Exchange
- Bhatia International Limited - India
- Gujarat Mineral Development Corp Ltd - India
- SMG Consultants - Indonesia
- Globalindo Alam Lestari - Indonesia
- Wilmar Investment Holdings
- The University of Queensland
- Eastern Coal Council - USA
- Kobexindo Tractors - Indoneisa
- Rashtriya Ispat Nigam Limited - India
- VISA Power Limited - India
- Australian Commodity Traders Exchange
- Planning Commission, India
- New Zealand Coal & Carbon
- Neyveli Lignite Corporation Ltd, - India
- Star Paper Mills Limited - India
- TeaM Sual Corporation - Philippines
- Latin American Coal - Colombia
- Essar Steel Hazira Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Vedanta Resources Plc - India
- Kaltim Prima Coal - Indonesia
- Malabar Cements Ltd - India
- Semirara Mining Corp, Philippines
- Straits Asia Resources Limited - Singapore
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