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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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Monday, 15 July 13
INDO COAL SWAPS ARE STRUGGLING FOR RIGHT DIRECTION
COALspot.com – Indo coal swaps are struggling to find the right direction. Sub-Bit Indonesia coal swaps (FOB ) for average August 2013 d ...
Friday, 12 July 13
U.S. PRODUCED 18.40 MMST COAL WEEK ENDED 6 JULY 2013
COALspot.com – United states the world’s second largest coal producer produced totaled approximately 18.40 million short tons (mmst) of ...
Thursday, 11 July 13
PANAMAX: PACIFIC ROUND PAY AROUND $6,500/D; ATLANTIC ROUND VOYAGE PAY AROUND US$ 10,000/D - FEARNLEYS AS
Handy
The Feast market is quiet, July date cargoes remain unfixed as there is a gap between what owners aiming and charterers willing to pay. There ...
Wednesday, 10 July 13
DRY BULK MARKET IS STILL STRUGGLING TO SURVIVE - INTERMODAL
COALspot.com : With the first half of the year now behind us and, as expected, most shipping segments in the dry bulk market are struggling to survi ...
Tuesday, 09 July 13
COAL PRICE REMAINS SLUGGISH - TRIMEGAH
COALspot.com - Newcastle coal price has reached US$ 76.30/ton (-15.9% YTD), bringing YTD’13 average to stand at US$ 87.90/ton, 6.80% lower tha ...
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- Directorate General of MIneral and Coal - Indonesia
- Bangladesh Power Developement Board
- Rio Tinto Coal - Australia
- IHS Mccloskey Coal Group - USA
- Trasteel International SA, Italy
- Salva Resources Pvt Ltd - India
- Latin American Coal - Colombia
- Alfred C Toepfer International GmbH - Germany
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mercuria Energy - Indonesia
- Sojitz Corporation - Japan
- Tamil Nadu electricity Board
- Videocon Industries ltd - India
- Xindia Steels Limited - India
- Grasim Industreis Ltd - India
- Ambuja Cements Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Posco Energy - South Korea
- Orica Australia Pty. Ltd.
- Altura Mining Limited, Indonesia
- Power Finance Corporation Ltd., India
- Ministry of Transport, Egypt
- Billiton Holdings Pty Ltd - Australia
- Coastal Gujarat Power Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Meralco Power Generation, Philippines
- Economic Council, Georgia
- Chamber of Mines of South Africa
- Gujarat Mineral Development Corp Ltd - India
- New Zealand Coal & Carbon
- Vedanta Resources Plc - India
- Bahari Cakrawala Sebuku - Indonesia
- Indika Energy - Indonesia
- Eastern Coal Council - USA
- Makarim & Taira - Indonesia
- PNOC Exploration Corporation - Philippines
- Simpson Spence & Young - Indonesia
- Madhucon Powers Ltd - India
- Price Waterhouse Coopers - Russia
- Sree Jayajothi Cements Limited - India
- Manunggal Multi Energi - Indonesia
- PowerSource Philippines DevCo
- Straits Asia Resources Limited - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Toyota Tsusho Corporation, Japan
- Binh Thuan Hamico - Vietnam
- Lanco Infratech Ltd - India
- Kobexindo Tractors - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
- Wood Mackenzie - Singapore
- Agrawal Coal Company - India
- Larsen & Toubro Limited - India
- India Bulls Power Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Sakthi Sugars Limited - India
- Formosa Plastics Group - Taiwan
- Independent Power Producers Association of India
- Bharathi Cement Corporation - India
- Interocean Group of Companies - India
- Australian Commodity Traders Exchange
- Global Business Power Corporation, Philippines
- Petron Corporation, Philippines
- Indian Energy Exchange, India
- Indo Tambangraya Megah - Indonesia
- Kumho Petrochemical, South Korea
- Asmin Koalindo Tuhup - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Parry Sugars Refinery, India
- Bhushan Steel Limited - India
- Cigading International Bulk Terminal - Indonesia
- The University of Queensland
- TeaM Sual Corporation - Philippines
- Global Green Power PLC Corporation, Philippines
- Georgia Ports Authority, United States
- Oldendorff Carriers - Singapore
- Essar Steel Hazira Ltd - India
- Barasentosa Lestari - Indonesia
- CNBM International Corporation - China
- Rashtriya Ispat Nigam Limited - India
- Ministry of Mines - Canada
- AsiaOL BioFuels Corp., Philippines
- Orica Mining Services - Indonesia
- Minerals Council of Australia
- Star Paper Mills Limited - India
- Carbofer General Trading SA - India
- Leighton Contractors Pty Ltd - Australia
- Vizag Seaport Private Limited - India
- Wilmar Investment Holdings
- Gujarat Sidhee Cement - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Energy Development Corp, Philippines
- Indonesian Coal Mining Association
- Sindya Power Generating Company Private Ltd
- Timah Investasi Mineral - Indoneisa
- McConnell Dowell - Australia
- LBH Netherlands Bv - Netherlands
- OPG Power Generation Pvt Ltd - India
- The Treasury - Australian Government
- Borneo Indobara - Indonesia
- Kartika Selabumi Mining - Indonesia
- Eastern Energy - Thailand
- Anglo American - United Kingdom
- Semirara Mining and Power Corporation, Philippines
- Dalmia Cement Bharat India
- Intertek Mineral Services - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Deloitte Consulting - India
- Central Electricity Authority - India
- GN Power Mariveles Coal Plant, Philippines
- Pendopo Energi Batubara - Indonesia
- Savvy Resources Ltd - HongKong
- ICICI Bank Limited - India
- Heidelberg Cement - Germany
- Coal and Oil Company - UAE
- Standard Chartered Bank - UAE
- IEA Clean Coal Centre - UK
- Aditya Birla Group - India
- White Energy Company Limited
- Baramulti Group, Indonesia
- Samtan Co., Ltd - South Korea
- London Commodity Brokers - England
- Singapore Mercantile Exchange
- CIMB Investment Bank - Malaysia
- Jaiprakash Power Ventures ltd
- Iligan Light & Power Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Chettinad Cement Corporation Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Miang Besar Coal Terminal - Indonesia
- Electricity Authority, New Zealand
- PTC India Limited - India
- Edison Trading Spa - Italy
- Maheswari Brothers Coal Limited - India
- Kapuas Tunggal Persada - Indonesia
- Marubeni Corporation - India
- Therma Luzon, Inc, Philippines
- SMC Global Power, Philippines
- Directorate Of Revenue Intelligence - India
- Ministry of Finance - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Meenaskhi Energy Private Limited - India
- International Coal Ventures Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Medco Energi Mining Internasional
- Bayan Resources Tbk. - Indonesia
- Metalloyd Limited - United Kingdom
- ASAPP Information Group - India
- Bukit Baiduri Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- MS Steel International - UAE
- Commonwealth Bank - Australia
- Thiess Contractors Indonesia
- The State Trading Corporation of India Ltd
- Bhatia International Limited - India
- Siam City Cement PLC, Thailand
- Port Waratah Coal Services - Australia
- Riau Bara Harum - Indonesia
- Romanian Commodities Exchange
- Planning Commission, India
- Kideco Jaya Agung - Indonesia
- Goldman Sachs - Singapore
- Aboitiz Power Corporation - Philippines
- Merrill Lynch Commodities Europe
- Kepco SPC Power Corporation, Philippines
- Semirara Mining Corp, Philippines
- Electricity Generating Authority of Thailand
- Krishnapatnam Port Company Ltd. - India
- SN Aboitiz Power Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Globalindo Alam Lestari - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Neyveli Lignite Corporation Ltd, - India
- Kaltim Prima Coal - Indonesia
- Mjunction Services Limited - India
- Mercator Lines Limited - India
- Ceylon Electricity Board - Sri Lanka
- Australian Coal Association
- GVK Power & Infra Limited - India
- Central Java Power - Indonesia
- Malabar Cements Ltd - India
- Uttam Galva Steels Limited - India
- Mintek Dendrill Indonesia
- Siam City Cement - Thailand
- Tata Chemicals Ltd - India
- Indian Oil Corporation Limited
- Renaissance Capital - South Africa
- Bhoruka Overseas - Indonesia
- Bulk Trading Sa - Switzerland
- Indogreen Group - Indonesia
- Energy Link Ltd, New Zealand
- VISA Power Limited - India
- SMG Consultants - Indonesia
- South Luzon Thermal Energy Corporation
- Sarangani Energy Corporation, Philippines
- Parliament of New Zealand
- Gujarat Electricity Regulatory Commission - India
- Banpu Public Company Limited - Thailand
- Africa Commodities Group - South Africa
- Karbindo Abesyapradhi - Indoneisa
- Sical Logistics Limited - India
- Bukit Makmur.PT - Indonesia
- GMR Energy Limited - India
- Coalindo Energy - Indonesia
- Thai Mozambique Logistica
- Holcim Trading Pte Ltd - Singapore
- Attock Cement Pakistan Limited
- European Bulk Services B.V. - Netherlands
- Sinarmas Energy and Mining - Indonesia
- Global Coal Blending Company Limited - Australia
- Cement Manufacturers Association - India
- San Jose City I Power Corp, Philippines
- Antam Resourcindo - Indonesia
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