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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, 05 April 13
SGX API 8 CFR SOUTH CHINA COAL SWAPS TO GO LIVE
COALspot.com - The Exchange has announced that the SGX API 8 CFR South China Coal Swap will go live for clearing on SGX-DC starting from 29 Ap ...
Thursday, 04 April 13
HANDY:QUIET ; PANAMAX: SLOW START; CAPESIZE: LOW ACTIVITIES - FEARNRESEARCH
Handy
The Atlantic markets remain quiet as charterers and owners waiting to see how it moves. The USG-Feast was at USD 20k and Black Sea-Feast was ...
Wednesday, 03 April 13
HBA HAS LOST US$ 1.53 PER MT IN APRIL 2013
COALspot.com - The Indonesian government’s declared coal bench mark price has lost $1.53 / MT in April 2013.
The monthly coal referen ...
Tuesday, 02 April 13
AUSTRALIA'S NEWCASTLE PORT SHIPPED 633K MT MORE COAL W-O-W
COALspot.com - Newcastle port in Australia has loaded 3,029,482 tons of thermal and coking coal for week ended 0700 hours 1 April 2013, Newcas ...
Tuesday, 02 April 13
THE GOVERNORS TO TAKE OVER AUTHORITY OF MINING, FORESTRY AND PLANTATION CONCESSIONS
The Indonesian government is planning to transfer the authority of issuing mining, forestry and plantation concessions from municipalities and distr ...
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- Bank of Tokyo Mitsubishi UFJ Ltd
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- Straits Asia Resources Limited - Singapore
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- Gujarat Electricity Regulatory Commission - India
- GN Power Mariveles Coal Plant, Philippines
- Makarim & Taira - Indonesia
- Indo Tambangraya Megah - Indonesia
- AsiaOL BioFuels Corp., Philippines
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- Standard Chartered Bank - UAE
- Australian Coal Association
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- Renaissance Capital - South Africa
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- Coalindo Energy - Indonesia
- Rio Tinto Coal - Australia
- Ind-Barath Power Infra Limited - India
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- Petrochimia International Co. Ltd.- Taiwan
- Electricity Generating Authority of Thailand
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- Banpu Public Company Limited - Thailand
- Barasentosa Lestari - Indonesia
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- Edison Trading Spa - Italy
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- ICICI Bank Limited - India
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- Merrill Lynch Commodities Europe
- Interocean Group of Companies - India
- The University of Queensland
- Global Coal Blending Company Limited - Australia
- Coal and Oil Company - UAE
- Bahari Cakrawala Sebuku - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Singapore Mercantile Exchange
- Malabar Cements Ltd - India
- Antam Resourcindo - Indonesia
- Orica Mining Services - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Goldman Sachs - Singapore
- Bhoruka Overseas - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- PowerSource Philippines DevCo
- Sical Logistics Limited - India
- Simpson Spence & Young - Indonesia
- Sakthi Sugars Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Grasim Industreis Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Lanco Infratech Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Binh Thuan Hamico - Vietnam
- Cement Manufacturers Association - India
- Sarangani Energy Corporation, Philippines
- Gujarat Sidhee Cement - India
- Meralco Power Generation, Philippines
- Anglo American - United Kingdom
- Semirara Mining and Power Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Kobexindo Tractors - Indoneisa
- Aditya Birla Group - India
- Tata Chemicals Ltd - India
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- PetroVietnam Power Coal Import and Supply Company
- Orica Australia Pty. Ltd.
- Alfred C Toepfer International GmbH - Germany
- Bharathi Cement Corporation - India
- SMC Global Power, Philippines
- Siam City Cement - Thailand
- San Jose City I Power Corp, Philippines
- Pendopo Energi Batubara - Indonesia
- MS Steel International - UAE
- Bayan Resources Tbk. - Indonesia
- Independent Power Producers Association of India
- Madhucon Powers Ltd - India
- Samtan Co., Ltd - South Korea
- Salva Resources Pvt Ltd - India
- Central Java Power - Indonesia
- VISA Power Limited - India
- Parry Sugars Refinery, India
- Planning Commission, India
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- Mjunction Services Limited - India
- Chettinad Cement Corporation Ltd - India
- Economic Council, Georgia
- GVK Power & Infra Limited - India
- Ministry of Finance - Indonesia
- Baramulti Group, Indonesia
- Kaltim Prima Coal - Indonesia
- Minerals Council of Australia
- Ministry of Mines - Canada
- Therma Luzon, Inc, Philippines
- Uttam Galva Steels Limited - India
- Bangladesh Power Developement Board
- Coastal Gujarat Power Limited - India
- Parliament of New Zealand
- Altura Mining Limited, Indonesia
- Vizag Seaport Private Limited - India
- ASAPP Information Group - India
- Indian Oil Corporation Limited
- London Commodity Brokers - England
- Metalloyd Limited - United Kingdom
- IHS Mccloskey Coal Group - USA
- Energy Development Corp, Philippines
- Mercuria Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Deloitte Consulting - India
- Holcim Trading Pte Ltd - Singapore
- CIMB Investment Bank - Malaysia
- Neyveli Lignite Corporation Ltd, - India
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- GAC Shipping (India) Pvt Ltd
- Indonesian Coal Mining Association
- Essar Steel Hazira Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Borneo Indobara - Indonesia
- Africa Commodities Group - South Africa
- Meenaskhi Energy Private Limited - India
- Georgia Ports Authority, United States
- Wood Mackenzie - Singapore
- Ministry of Transport, Egypt
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- Kartika Selabumi Mining - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Romanian Commodities Exchange
- Rashtriya Ispat Nigam Limited - India
- Port Waratah Coal Services - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Bukit Asam (Persero) Tbk - Indonesia
- Medco Energi Mining Internasional
- PTC India Limited - India
- Thai Mozambique Logistica
- Australian Commodity Traders Exchange
- Trasteel International SA, Italy
- SMG Consultants - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- The State Trading Corporation of India Ltd
- Timah Investasi Mineral - Indoneisa
- Intertek Mineral Services - Indonesia
- Marubeni Corporation - India
- Global Business Power Corporation, Philippines
- White Energy Company Limited
- Electricity Authority, New Zealand
- Kumho Petrochemical, South Korea
- Cigading International Bulk Terminal - Indonesia
- Tamil Nadu electricity Board
- Bukit Baiduri Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Jaiprakash Power Ventures ltd
- Larsen & Toubro Limited - India
- Toyota Tsusho Corporation, Japan
- New Zealand Coal & Carbon
- Savvy Resources Ltd - HongKong
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sojitz Corporation - Japan
- Gujarat Mineral Development Corp Ltd - India
- CNBM International Corporation - China
- Siam City Cement PLC, Thailand
- OPG Power Generation Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Indika Energy - Indonesia
- TeaM Sual Corporation - Philippines
- Kohat Cement Company Ltd. - Pakistan
- Bhatia International Limited - India
- Maheswari Brothers Coal Limited - India
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- Pipit Mutiara Jaya. PT, Indonesia
- Power Finance Corporation Ltd., India
- Global Green Power PLC Corporation, Philippines
- The Treasury - Australian Government
- IEA Clean Coal Centre - UK
- International Coal Ventures Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Commonwealth Bank - Australia
- Energy Link Ltd, New Zealand
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