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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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Friday, 24 May 13
US'S COAL PRODUCTION INCREASED WEEK ON WEEK
COALspot.com – United states the world’s second largest coal producer produced totaled approximately 18.90 million short tons (mmst) of ...
Friday, 24 May 13
OPG POWER VENTURES OF INDIA LOOKING FOR 210,000 MT OF 4,200 GAR INDONESIAN THERMAL COAL
COALspot.com - OPG Power Ventures Plc (OPG) is an AIM listed (London Stock Exchange) and fast growing developer and operator of power plants in Indi ...
Thursday, 23 May 13
HANDY : THE ATLANTIC MARKET REMAINS UNCHANGED - FEARNRESEARCH
Handy
The Atlantic market remains unchanged. USG-Feast rates were around USD 19k. Little change from last week in the Pacific, fewer stems and tonn ...
Thursday, 23 May 13
COLOMBIA SHIPPED 11.74 MILLION TONS OF THERMAL COAL IN Q1
COALspot.om - Colombia produced about 18,388,972.94 mt of coal for the first quarter of 2013.
Q1' 2013 coal production was around 21.42 p ...
Wednesday, 22 May 13
COKAL SIGNS JV WITH MDM, FOR BARITO RIVER BARGING
COALspot.com - Cokal Limited (ASX: CKA) has announced that it has entered into a 50:50 Joint Venture (JV) with Meratus Advance Maritime (MDM) one of ...
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- Electricity Authority, New Zealand
- Banpu Public Company Limited - Thailand
- Bulk Trading Sa - Switzerland
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- Chettinad Cement Corporation Ltd - India
- Formosa Plastics Group - Taiwan
- Thiess Contractors Indonesia
- Indian Energy Exchange, India
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- Renaissance Capital - South Africa
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- Minerals Council of Australia
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- LBH Netherlands Bv - Netherlands
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- Parry Sugars Refinery, India
- Parliament of New Zealand
- Energy Link Ltd, New Zealand
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- Therma Luzon, Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Australian Coal Association
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- London Commodity Brokers - England
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- Ministry of Finance - Indonesia
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- Global Business Power Corporation, Philippines
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- Bayan Resources Tbk. - Indonesia
- Iligan Light & Power Inc, Philippines
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- Sinarmas Energy and Mining - Indonesia
- Chamber of Mines of South Africa
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- Indo Tambangraya Megah - Indonesia
- Sindya Power Generating Company Private Ltd
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- Kapuas Tunggal Persada - Indonesia
- Deloitte Consulting - India
- Ministry of Transport, Egypt
- Posco Energy - South Korea
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- Ambuja Cements Ltd - India
- The Treasury - Australian Government
- Bhushan Steel Limited - India
- Maheswari Brothers Coal Limited - India
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- European Bulk Services B.V. - Netherlands
- Directorate General of MIneral and Coal - Indonesia
- Sakthi Sugars Limited - India
- PTC India Limited - India
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- Rio Tinto Coal - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Alfred C Toepfer International GmbH - Germany
- The State Trading Corporation of India Ltd
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- Orica Mining Services - Indonesia
- Coal and Oil Company - UAE
- Ministry of Mines - Canada
- Mjunction Services Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Siam City Cement PLC, Thailand
- Sojitz Corporation - Japan
- Toyota Tsusho Corporation, Japan
- Bukit Baiduri Energy - Indonesia
- Commonwealth Bank - Australia
- OPG Power Generation Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
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- Eastern Coal Council - USA
- GMR Energy Limited - India
- Price Waterhouse Coopers - Russia
- India Bulls Power Limited - India
- Petron Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- CIMB Investment Bank - Malaysia
- Uttam Galva Steels Limited - India
- Australian Commodity Traders Exchange
- Edison Trading Spa - Italy
- SMC Global Power, Philippines
- Indogreen Group - Indonesia
- Indonesian Coal Mining Association
- Mercuria Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
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- Wilmar Investment Holdings
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- Agrawal Coal Company - India
- Karaikal Port Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Trasteel International SA, Italy
- Mintek Dendrill Indonesia
- San Jose City I Power Corp, Philippines
- ICICI Bank Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Latin American Coal - Colombia
- The University of Queensland
- Leighton Contractors Pty Ltd - Australia
- Sree Jayajothi Cements Limited - India
- Aditya Birla Group - India
- Independent Power Producers Association of India
- Makarim & Taira - Indonesia
- Riau Bara Harum - Indonesia
- Indian Oil Corporation Limited
- Planning Commission, India
- Africa Commodities Group - South Africa
- Jindal Steel & Power Ltd - India
- Metalloyd Limited - United Kingdom
- Larsen & Toubro Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Petrochimia International Co. Ltd.- Taiwan
- Heidelberg Cement - Germany
- PowerSource Philippines DevCo
- Vedanta Resources Plc - India
- Economic Council, Georgia
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- Dalmia Cement Bharat India
- PetroVietnam Power Coal Import and Supply Company
- Gujarat Electricity Regulatory Commission - India
- Eastern Energy - Thailand
- McConnell Dowell - Australia
- Central Electricity Authority - India
- Wood Mackenzie - Singapore
- Thai Mozambique Logistica
- Attock Cement Pakistan Limited
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