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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, 20 June 13
CAPESIZE : FINALLY A SUBSTANTIAL IMPROVEMENT IN RATES! - FEARNLEYS A.S
Handy
Atlantic market kept a steady curve from last week. US Gulf positions fetched tick above USD 21k for Cont/Skaw direction, and vessels fixed f ...
Wednesday, 19 June 13
NEWCASTLE SHIPPED 16.05 PERCENT LESS COAL W/E 17 JUNE 2013
COALspot.com - Newcastle port in Australia has loaded 2,606,071 tons of coal for the week ended 0700 hours 17 June 2013, Newcastle Port Corp. ...
Sunday, 16 June 13
WEAK DEMAND KEEPS COAL PRICES LOW
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for average July 2013 delivery have lost 2.94 percent week on week but gained 0.06 percent ...
Saturday, 15 June 13
S7 AND S8 ROUTES ARE EXPECTED TO BE STEADY NEXT WEEK - VISTAAR
COALspot.com - This week freight movement was fairly firm with news of China is rebuilding iron ore stockpiles, and ease import rules. Cape and Pana ...
Saturday, 15 June 13
SHIPPING CONFIDENCE REACHES HIGHEST LEVEL FOR TWO AND A HALF YEARS - MOORE STEPHENS
Overall confidence levels in the shipping industry rose to their highest level for two and a half years in the three months ended May 2013, accordin ...
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- Australian Coal Association
- Bukit Asam (Persero) Tbk - Indonesia
- Indian Oil Corporation Limited
- White Energy Company Limited
- Jaiprakash Power Ventures ltd
- Indian Energy Exchange, India
- Edison Trading Spa - Italy
- Trasteel International SA, Italy
- Miang Besar Coal Terminal - Indonesia
- Kumho Petrochemical, South Korea
- Orica Mining Services - Indonesia
- Economic Council, Georgia
- Bharathi Cement Corporation - India
- Pipit Mutiara Jaya. PT, Indonesia
- Globalindo Alam Lestari - Indonesia
- OPG Power Generation Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Ministry of Mines - Canada
- LBH Netherlands Bv - Netherlands
- Power Finance Corporation Ltd., India
- Star Paper Mills Limited - India
- Kaltim Prima Coal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Chamber of Mines of South Africa
- Ministry of Finance - Indonesia
- Alfred C Toepfer International GmbH - Germany
- ASAPP Information Group - India
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- Meralco Power Generation, Philippines
- VISA Power Limited - India
- Carbofer General Trading SA - India
- Salva Resources Pvt Ltd - India
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- Bhushan Steel Limited - India
- Makarim & Taira - Indonesia
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- Wood Mackenzie - Singapore
- Indika Energy - Indonesia
- Ministry of Transport, Egypt
- Price Waterhouse Coopers - Russia
- GN Power Mariveles Coal Plant, Philippines
- Tamil Nadu electricity Board
- Savvy Resources Ltd - HongKong
- New Zealand Coal & Carbon
- Central Java Power - Indonesia
- Karbindo Abesyapradhi - Indoneisa
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- Kepco SPC Power Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Krishnapatnam Port Company Ltd. - India
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- Electricity Authority, New Zealand
- Coal and Oil Company - UAE
- Malabar Cements Ltd - India
- Siam City Cement PLC, Thailand
- Global Green Power PLC Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Riau Bara Harum - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Independent Power Producers Association of India
- Bayan Resources Tbk. - Indonesia
- Bhatia International Limited - India
- SMG Consultants - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Agrawal Coal Company - India
- Banpu Public Company Limited - Thailand
- Altura Mining Limited, Indonesia
- Larsen & Toubro Limited - India
- Wilmar Investment Holdings
- Mercator Lines Limited - India
- Parliament of New Zealand
- Bangladesh Power Developement Board
- Indonesian Coal Mining Association
- Iligan Light & Power Inc, Philippines
- Marubeni Corporation - India
- Leighton Contractors Pty Ltd - Australia
- Attock Cement Pakistan Limited
- India Bulls Power Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
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- South Luzon Thermal Energy Corporation
- Bhoruka Overseas - Indonesia
- IHS Mccloskey Coal Group - USA
- Oldendorff Carriers - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Aboitiz Power Corporation - Philippines
- Sindya Power Generating Company Private Ltd
- CNBM International Corporation - China
- Samtan Co., Ltd - South Korea
- Metalloyd Limited - United Kingdom
- Central Electricity Authority - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GMR Energy Limited - India
- Coalindo Energy - Indonesia
- Global Business Power Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Planning Commission, India
- Bukit Baiduri Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Rashtriya Ispat Nigam Limited - India
- Eastern Energy - Thailand
- Thai Mozambique Logistica
- Kalimantan Lumbung Energi - Indonesia
- Romanian Commodities Exchange
- Bulk Trading Sa - Switzerland
- Mintek Dendrill Indonesia
- Semirara Mining Corp, Philippines
- The State Trading Corporation of India Ltd
- Binh Thuan Hamico - Vietnam
- AsiaOL BioFuels Corp., Philippines
- Lanco Infratech Ltd - India
- Uttam Galva Steels Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Indogreen Group - Indonesia
- SN Aboitiz Power Inc, Philippines
- European Bulk Services B.V. - Netherlands
- Maharashtra Electricity Regulatory Commission - India
- Commonwealth Bank - Australia
- PNOC Exploration Corporation - Philippines
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- Xindia Steels Limited - India
- Borneo Indobara - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- The Treasury - Australian Government
- Coastal Gujarat Power Limited - India
- Baramulti Group, Indonesia
- Meenaskhi Energy Private Limited - India
- Billiton Holdings Pty Ltd - Australia
- Georgia Ports Authority, United States
- Sakthi Sugars Limited - India
- Dalmia Cement Bharat India
- IEA Clean Coal Centre - UK
- Gujarat Sidhee Cement - India
- Semirara Mining and Power Corporation, Philippines
- Minerals Council of Australia
- Thiess Contractors Indonesia
- Goldman Sachs - Singapore
- TeaM Sual Corporation - Philippines
- Medco Energi Mining Internasional
- Therma Luzon, Inc, Philippines
- Australian Commodity Traders Exchange
- Interocean Group of Companies - India
- Madhucon Powers Ltd - India
- International Coal Ventures Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- London Commodity Brokers - England
- SMC Global Power, Philippines
- Grasim Industreis Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Ambuja Cements Ltd - India
- PTC India Limited - India
- Timah Investasi Mineral - Indoneisa
- GAC Shipping (India) Pvt Ltd
- Heidelberg Cement - Germany
- Manunggal Multi Energi - Indonesia
- Ceylon Electricity Board - Sri Lanka
- CIMB Investment Bank - Malaysia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sojitz Corporation - Japan
- Vizag Seaport Private Limited - India
- Formosa Plastics Group - Taiwan
- Neyveli Lignite Corporation Ltd, - India
- Mercuria Energy - Indonesia
- Antam Resourcindo - Indonesia
- Port Waratah Coal Services - Australia
- McConnell Dowell - Australia
- Parry Sugars Refinery, India
- Jindal Steel & Power Ltd - India
- Cement Manufacturers Association - India
- Mjunction Services Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Straits Asia Resources Limited - Singapore
- Eastern Coal Council - USA
- Toyota Tsusho Corporation, Japan
- Essar Steel Hazira Ltd - India
- Barasentosa Lestari - Indonesia
- Renaissance Capital - South Africa
- ICICI Bank Limited - India
- Kobexindo Tractors - Indoneisa
- Energy Development Corp, Philippines
- Maheswari Brothers Coal Limited - India
- Standard Chartered Bank - UAE
- Electricity Generating Authority of Thailand
- Merrill Lynch Commodities Europe
- Bank of Tokyo Mitsubishi UFJ Ltd
- Intertek Mineral Services - Indonesia
- Global Coal Blending Company Limited - Australia
- Chettinad Cement Corporation Ltd - India
- Indo Tambangraya Megah - Indonesia
- The University of Queensland
- Energy Link Ltd, New Zealand
- Directorate Of Revenue Intelligence - India
- Petron Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Rio Tinto Coal - Australia
- Vedanta Resources Plc - India
- Ind-Barath Power Infra Limited - India
- Kapuas Tunggal Persada - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- MS Steel International - UAE
- Siam City Cement - Thailand
- Posco Energy - South Korea
- Simpson Spence & Young - Indonesia
- PowerSource Philippines DevCo
- Africa Commodities Group - South Africa
- Videocon Industries ltd - India
- Latin American Coal - Colombia
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