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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, 03 May 13
SHIP OWNERS ARE INVESTING HEAVILY IN DRY BULK CARRIER NEWBUILDINGS ONCE MORE: IS THERE ANY RATIONALE? - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Despite the fact that the dry bulk market remains heavily oversupplied and just as the orderbook of newbuildings had began to shrink, it seems that sh ...
Wednesday, 01 May 13
NEWCASTLE PORT SHIPPED 23.14 PER CENT MORE COAL WEEK ON WEEK
COALspot.com - Newcastle port in Australia has loaded 2,997,729 tons of thermal and coking coal for week ended 0700 hours 29 April 2013, Newca ...
Tuesday, 30 April 13
KATINGAN RIA THERMAL COAL TO START PRODUCTION FROM EARLY 2014
COALspot.com - Realm Resources Ltd. (ASX: RRP) has announced the completion of the Feasibility Study for its 51% owned Katingan Ria thermal co ...
Monday, 29 April 13
FIRST TRADES OF SGX API 8 CFR SOUTH CHINA COAL SWAP
COALspot.com - The SGX API 8 CFR South China Coal Swap went live for clearing on SGX-DC today with a total volume of 25,000 metric tonnes (25 lots). ...
Sunday, 28 April 13
SUB BIT INDONESIA COAL & CFR SOUTH CHINA COAL SWAPS STAY POSITIVE
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for average May 2013 delivery has gained 0.34 percent and CFR South China coal shipment gai ...
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- Global Business Power Corporation, Philippines
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- India Bulls Power Limited - India
- Intertek Mineral Services - Indonesia
- San Jose City I Power Corp, Philippines
- Vedanta Resources Plc - India
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- Indian Oil Corporation Limited
- Commonwealth Bank - Australia
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- The State Trading Corporation of India Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
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- Energy Link Ltd, New Zealand
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- Kalimantan Lumbung Energi - Indonesia
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- Meralco Power Generation, Philippines
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- Bulk Trading Sa - Switzerland
- Aboitiz Power Corporation - Philippines
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- Holcim Trading Pte Ltd - Singapore
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- Marubeni Corporation - India
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- AsiaOL BioFuels Corp., Philippines
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- Merrill Lynch Commodities Europe
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- Metalloyd Limited - United Kingdom
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- GAC Shipping (India) Pvt Ltd
- Orica Australia Pty. Ltd.
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- PowerSource Philippines DevCo
- Grasim Industreis Ltd - India
- MS Steel International - UAE
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- Jaiprakash Power Ventures ltd
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- ASAPP Information Group - India
- Kepco SPC Power Corporation, Philippines
- White Energy Company Limited
- Wilmar Investment Holdings
- Sakthi Sugars Limited - India
- Tamil Nadu electricity Board
- Electricity Generating Authority of Thailand
- Power Finance Corporation Ltd., India
- Singapore Mercantile Exchange
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- Maharashtra Electricity Regulatory Commission - India
- CIMB Investment Bank - Malaysia
- Alfred C Toepfer International GmbH - Germany
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- PNOC Exploration Corporation - Philippines
- Electricity Authority, New Zealand
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- Global Coal Blending Company Limited - Australia
- Kumho Petrochemical, South Korea
- Cigading International Bulk Terminal - Indonesia
- Georgia Ports Authority, United States
- Eastern Coal Council - USA
- McConnell Dowell - Australia
- Economic Council, Georgia
- Sarangani Energy Corporation, Philippines
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- TeaM Sual Corporation - Philippines
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- IHS Mccloskey Coal Group - USA
- Wood Mackenzie - Singapore
- Straits Asia Resources Limited - Singapore
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- Tata Chemicals Ltd - India
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- Coal and Oil Company - UAE
- Rio Tinto Coal - Australia
- Semirara Mining Corp, Philippines
- Bayan Resources Tbk. - Indonesia
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- Indonesian Coal Mining Association
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- Ministry of Mines - Canada
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- Manunggal Multi Energi - Indonesia
- Carbofer General Trading SA - India
- Siam City Cement PLC, Thailand
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- Asia Pacific Energy Resources Ventures Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
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- IEA Clean Coal Centre - UK
- Global Green Power PLC Corporation, Philippines
- Parliament of New Zealand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PTC India Limited - India
- Toyota Tsusho Corporation, Japan
- Chettinad Cement Corporation Ltd - India
- Makarim & Taira - Indonesia
- Sical Logistics Limited - India
- Ministry of Transport, Egypt
- Samtan Co., Ltd - South Korea
- Gujarat Electricity Regulatory Commission - India
- Bhoruka Overseas - Indonesia
- Directorate Of Revenue Intelligence - India
- Cement Manufacturers Association - India
- TNB Fuel Sdn Bhd - Malaysia
- Thiess Contractors Indonesia
- European Bulk Services B.V. - Netherlands
- Directorate General of MIneral and Coal - Indonesia
- Karaikal Port Pvt Ltd - India
- Australian Commodity Traders Exchange
- Mercator Lines Limited - India
- Maheswari Brothers Coal Limited - India
- Timah Investasi Mineral - Indoneisa
- Aditya Birla Group - India
- Savvy Resources Ltd - HongKong
- Borneo Indobara - Indonesia
- Chamber of Mines of South Africa
- Kaltim Prima Coal - Indonesia
- GVK Power & Infra Limited - India
- Sindya Power Generating Company Private Ltd
- Central Electricity Authority - India
- Australian Coal Association
- Formosa Plastics Group - Taiwan
- Salva Resources Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Kapuas Tunggal Persada - Indonesia
- Gujarat Sidhee Cement - India
- Petron Corporation, Philippines
- Larsen & Toubro Limited - India
- Renaissance Capital - South Africa
- Xindia Steels Limited - India
- Ministry of Finance - Indonesia
- South Luzon Thermal Energy Corporation
- Heidelberg Cement - Germany
- Eastern Energy - Thailand
- New Zealand Coal & Carbon
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- Central Java Power - Indonesia
- Simpson Spence & Young - Indonesia
- Agrawal Coal Company - India
- Planning Commission, India
- Kideco Jaya Agung - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Mjunction Services Limited - India
- Iligan Light & Power Inc, Philippines
- GMR Energy Limited - India
- ICICI Bank Limited - India
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