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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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Tuesday, 21 May 13
NEWCASTLE PORT COAL SHIPMENTS SEEN FALLING WEEK ON WEEK
COALspot.com - Newcastle port in Australia has loaded 2,205,024 tons of thermal and coking coal for week ended 0700 hours 20 May 2013, Newcast ...
Sunday, 19 May 13
COAL PRICES ARE SLUMPING DUE TO WEAK DEMAND
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for average July 2013 delivery have gained 0.03 percent and API 8 CFR South China Coal shipment g ...
Sunday, 19 May 13
FREIGHT RATES TO REMAIN UNSTABLE AND VOLATILE - CAPT. REDDY
COALspot.com – The freight remained weak this week with all the segments down.
The BDI, the Baltic Dry Index is a number issued daily by th ...
Friday, 17 May 13
US COAL PRODUCTION CLIMBED 3.35 PER CENT WEEK ON WEEK
COALspot.com - U.S. produced totaled approximately 18.50 million short tons (mmst) in a week (For the week ended May 11, 2013), EIA said in its late ...
Thursday, 16 May 13
PANAMAX: THE FORWARD CURVE IS FALLING GRADUALLY - FEARNRESEARCH
Handy
The Atlantic market remained quiet. The USG-Feast was at USD 19k and Black Sea-Feast was at USD 11k. The Pacific market remained uncertain as ...
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- Manunggal Multi Energi - Indonesia
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- Mjunction Services Limited - India
- Goldman Sachs - Singapore
- Tata Chemicals Ltd - India
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- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- San Jose City I Power Corp, Philippines
- Australian Commodity Traders Exchange
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- Chamber of Mines of South Africa
- Siam City Cement - Thailand
- Planning Commission, India
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- Indika Energy - Indonesia
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- Commonwealth Bank - Australia
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- Thai Mozambique Logistica
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- Coal and Oil Company - UAE
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- Bulk Trading Sa - Switzerland
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- Eastern Coal Council - USA
- IEA Clean Coal Centre - UK
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- Ministry of Transport, Egypt
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- European Bulk Services B.V. - Netherlands
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- Marubeni Corporation - India
- Alfred C Toepfer International GmbH - Germany
- Bahari Cakrawala Sebuku - Indonesia
- Trasteel International SA, Italy
- Karbindo Abesyapradhi - Indoneisa
- Bangladesh Power Developement Board
- Iligan Light & Power Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Georgia Ports Authority, United States
- Gujarat Electricity Regulatory Commission - India
- Cement Manufacturers Association - India
- Barasentosa Lestari - Indonesia
- Africa Commodities Group - South Africa
- Toyota Tsusho Corporation, Japan
- Energy Link Ltd, New Zealand
- Sree Jayajothi Cements Limited - India
- The State Trading Corporation of India Ltd
- Uttam Galva Steels Limited - India
- Meralco Power Generation, Philippines
- Kapuas Tunggal Persada - Indonesia
- The Treasury - Australian Government
- Indonesian Coal Mining Association
- Maharashtra Electricity Regulatory Commission - India
- London Commodity Brokers - England
- PetroVietnam Power Coal Import and Supply Company
- Semirara Mining Corp, Philippines
- Deloitte Consulting - India
- Oldendorff Carriers - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Romanian Commodities Exchange
- Kalimantan Lumbung Energi - Indonesia
- Port Waratah Coal Services - Australia
- Aboitiz Power Corporation - Philippines
- India Bulls Power Limited - India
- Ambuja Cements Ltd - India
- Interocean Group of Companies - India
- Leighton Contractors Pty Ltd - Australia
- PowerSource Philippines DevCo
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- Medco Energi Mining Internasional
- Metalloyd Limited - United Kingdom
- CNBM International Corporation - China
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- Electricity Generating Authority of Thailand
- Agrawal Coal Company - India
- Australian Coal Association
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- Sojitz Corporation - Japan
- Power Finance Corporation Ltd., India
- Merrill Lynch Commodities Europe
- Pendopo Energi Batubara - Indonesia
- Globalindo Alam Lestari - Indonesia
- Kumho Petrochemical, South Korea
- Directorate Of Revenue Intelligence - India
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- Singapore Mercantile Exchange
- Global Business Power Corporation, Philippines
- Sical Logistics Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- White Energy Company Limited
- PTC India Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Krishnapatnam Port Company Ltd. - India
- LBH Netherlands Bv - Netherlands
- AsiaOL BioFuels Corp., Philippines
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- VISA Power Limited - India
- Economic Council, Georgia
- Ministry of Mines - Canada
- SMC Global Power, Philippines
- Bharathi Cement Corporation - India
- Indo Tambangraya Megah - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
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- Savvy Resources Ltd - HongKong
- Kobexindo Tractors - Indoneisa
- Coalindo Energy - Indonesia
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- Samtan Co., Ltd - South Korea
- Altura Mining Limited, Indonesia
- Wood Mackenzie - Singapore
- TeaM Sual Corporation - Philippines
- ICICI Bank Limited - India
- MS Steel International - UAE
- Borneo Indobara - Indonesia
- Global Coal Blending Company Limited - Australia
- Gujarat Mineral Development Corp Ltd - India
- Mintek Dendrill Indonesia
- Wilmar Investment Holdings
- Billiton Holdings Pty Ltd - Australia
- McConnell Dowell - Australia
- Binh Thuan Hamico - Vietnam
- Siam City Cement PLC, Thailand
- Malabar Cements Ltd - India
- Electricity Authority, New Zealand
- Carbofer General Trading SA - India
- Bhatia International Limited - India
- Attock Cement Pakistan Limited
- Sakthi Sugars Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- OPG Power Generation Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Bhushan Steel Limited - India
- Bukit Makmur.PT - Indonesia
- Price Waterhouse Coopers - Russia
- Straits Asia Resources Limited - Singapore
- South Luzon Thermal Energy Corporation
- Grasim Industreis Ltd - India
- Bhoruka Overseas - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Energy Development Corp, Philippines
- SMG Consultants - Indonesia
- Global Green Power PLC Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Thiess Contractors Indonesia
- The University of Queensland
- Salva Resources Pvt Ltd - India
- Xindia Steels Limited - India
- Indian Oil Corporation Limited
- Jaiprakash Power Ventures ltd
- Independent Power Producers Association of India
- Ministry of Finance - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Posco Energy - South Korea
- Ceylon Electricity Board - Sri Lanka
- Larsen & Toubro Limited - India
- Madhucon Powers Ltd - India
- Cigading International Bulk Terminal - Indonesia
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- SN Aboitiz Power Inc, Philippines
- Orica Mining Services - Indonesia
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- Neyveli Lignite Corporation Ltd, - India
- Semirara Mining and Power Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Lanco Infratech Ltd - India
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- Meenaskhi Energy Private Limited - India
- Indian Energy Exchange, India
- Kartika Selabumi Mining - Indonesia
- Jindal Steel & Power Ltd - India
- Videocon Industries ltd - India
- CIMB Investment Bank - Malaysia
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- Indogreen Group - Indonesia
- Dalmia Cement Bharat India
- Timah Investasi Mineral - Indoneisa
- GAC Shipping (India) Pvt Ltd
- International Coal Ventures Pvt Ltd - India
- Minerals Council of Australia
- Renaissance Capital - South Africa
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- Parliament of New Zealand
- Rio Tinto Coal - Australia
- Makarim & Taira - Indonesia
- Jorong Barutama Greston.PT - Indonesia
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