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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, 26 March 13
NEWCASTLE PORT SHIPPED 2.39 MMT OF COAL W/E 25 MARCH 2013
COALspot.com - Newcastle port in Australia has loaded 2.396 million tons of thermal and coking coal for week ended 0700 hours 25 March 2013, N ...
Monday, 25 March 13
BUNKER FUELS ARE ABOUT TO GET CLEANER, BUT AT WHAT COST? - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The cost of bunkers is nowadays the driving force behind most ship owners' major decisions, with regulations bound to change in many parts of the w ...
Sunday, 24 March 13
THE SUB-BIT INDONESIA'S COAL SWAPS FOR Q2 DELIVERY PRICE LOST 7.47 PERCENT PMT M-O-M
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for average Q2’ 2013 delivery has lost 3.39 percent and CFR South China coal shipment 2.65 ...
Sunday, 24 March 13
FREIGHT MARKETS CONTINUED TO FIRM - VISTAAR
COALspot.com - This freight market continued to remain firm in all segments except for cape index which softened slightly.
The BDI was up by 4.60 ...
Sunday, 24 March 13
DRY BULK MARKET PROSPECTS OFFER ROOM FOR RESTRAINED OPTIMISM SAYS SHIP OWNER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
In its announcement regarding its annual performance, ship owner Frontline offered some useful insight on the future prospects of both the dry bulk ...
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- Edison Trading Spa - Italy
- Chamber of Mines of South Africa
- Riau Bara Harum - Indonesia
- Indian Energy Exchange, India
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- Indo Tambangraya Megah - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Energy Link Ltd, New Zealand
- Tata Chemicals Ltd - India
- Formosa Plastics Group - Taiwan
- Wilmar Investment Holdings
- Aboitiz Power Corporation - Philippines
- IEA Clean Coal Centre - UK
- Independent Power Producers Association of India
- Bhoruka Overseas - Indonesia
- Siam City Cement - Thailand
- McConnell Dowell - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Australian Commodity Traders Exchange
- Coal and Oil Company - UAE
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- Maharashtra Electricity Regulatory Commission - India
- Standard Chartered Bank - UAE
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- White Energy Company Limited
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- The State Trading Corporation of India Ltd
- Latin American Coal - Colombia
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- CIMB Investment Bank - Malaysia
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- Indian Oil Corporation Limited
- Gujarat Mineral Development Corp Ltd - India
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- Semirara Mining and Power Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Savvy Resources Ltd - HongKong
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- Sojitz Corporation - Japan
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- ASAPP Information Group - India
- Karbindo Abesyapradhi - Indoneisa
- Planning Commission, India
- Straits Asia Resources Limited - Singapore
- Bayan Resources Tbk. - Indonesia
- Lanco Infratech Ltd - India
- Ambuja Cements Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Kartika Selabumi Mining - Indonesia
- Iligan Light & Power Inc, Philippines
- Mercator Lines Limited - India
- Ministry of Mines - Canada
- Gujarat Electricity Regulatory Commission - India
- Electricity Authority, New Zealand
- Deloitte Consulting - India
- Meenaskhi Energy Private Limited - India
- Sinarmas Energy and Mining - Indonesia
- Kideco Jaya Agung - Indonesia
- Sakthi Sugars Limited - India
- Indika Energy - Indonesia
- MS Steel International - UAE
- TNB Fuel Sdn Bhd - Malaysia
- Merrill Lynch Commodities Europe
- SMG Consultants - Indonesia
- Toyota Tsusho Corporation, Japan
- Carbofer General Trading SA - India
- Siam City Cement PLC, Thailand
- Kepco SPC Power Corporation, Philippines
- The University of Queensland
- Directorate General of MIneral and Coal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Heidelberg Cement - Germany
- Renaissance Capital - South Africa
- Xindia Steels Limited - India
- Global Green Power PLC Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Sree Jayajothi Cements Limited - India
- New Zealand Coal & Carbon
- Pipit Mutiara Jaya. PT, Indonesia
- Cement Manufacturers Association - India
- Bukit Makmur.PT - Indonesia
- Oldendorff Carriers - Singapore
- Sarangani Energy Corporation, Philippines
- Malabar Cements Ltd - India
- Ministry of Finance - Indonesia
- Larsen & Toubro Limited - India
- PTC India Limited - India
- Australian Coal Association
- PetroVietnam Power Coal Import and Supply Company
- LBH Netherlands Bv - Netherlands
- Chettinad Cement Corporation Ltd - India
- Videocon Industries ltd - India
- Holcim Trading Pte Ltd - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GVK Power & Infra Limited - India
- Baramulti Group, Indonesia
- Commonwealth Bank - Australia
- Gujarat Sidhee Cement - India
- Thai Mozambique Logistica
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- Central Java Power - Indonesia
- Globalindo Alam Lestari - Indonesia
- Ind-Barath Power Infra Limited - India
- Kobexindo Tractors - Indoneisa
- Bangladesh Power Developement Board
- Medco Energi Mining Internasional
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Romanian Commodities Exchange
- Bank of Tokyo Mitsubishi UFJ Ltd
- PowerSource Philippines DevCo
- Ministry of Transport, Egypt
- Manunggal Multi Energi - Indonesia
- European Bulk Services B.V. - Netherlands
- Makarim & Taira - Indonesia
- Indogreen Group - Indonesia
- South Luzon Thermal Energy Corporation
- Salva Resources Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Petron Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Coalindo Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- Mercuria Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- VISA Power Limited - India
- Samtan Co., Ltd - South Korea
- ICICI Bank Limited - India
- Coastal Gujarat Power Limited - India
- Jaiprakash Power Ventures ltd
- Kumho Petrochemical, South Korea
- SMC Global Power, Philippines
- Vizag Seaport Private Limited - India
- Bulk Trading Sa - Switzerland
- PNOC Exploration Corporation - Philippines
- Economic Council, Georgia
- SN Aboitiz Power Inc, Philippines
- Semirara Mining Corp, Philippines
- Mintek Dendrill Indonesia
- Anglo American - United Kingdom
- Jorong Barutama Greston.PT - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Uttam Galva Steels Limited - India
- Antam Resourcindo - Indonesia
- Electricity Generating Authority of Thailand
- Marubeni Corporation - India
- Mjunction Services Limited - India
- Trasteel International SA, Italy
- Ceylon Electricity Board - Sri Lanka
- Price Waterhouse Coopers - Russia
- GAC Shipping (India) Pvt Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Global Coal Blending Company Limited - Australia
- Parry Sugars Refinery, India
- Port Waratah Coal Services - Australia
- Pendopo Energi Batubara - Indonesia
- Eastern Energy - Thailand
- The Treasury - Australian Government
- Essar Steel Hazira Ltd - India
- Binh Thuan Hamico - Vietnam
- Africa Commodities Group - South Africa
- Neyveli Lignite Corporation Ltd, - India
- Simpson Spence & Young - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Bhatia International Limited - India
- London Commodity Brokers - England
- Singapore Mercantile Exchange
- Banpu Public Company Limited - Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Grasim Industreis Ltd - India
- Parliament of New Zealand
- Maheswari Brothers Coal Limited - India
- Kaltim Prima Coal - Indonesia
- Attock Cement Pakistan Limited
- Kalimantan Lumbung Energi - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Indonesian Coal Mining Association
- India Bulls Power Limited - India
- Metalloyd Limited - United Kingdom
- International Coal Ventures Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- AsiaOL BioFuels Corp., Philippines
- Orica Mining Services - Indonesia
- Sindya Power Generating Company Private Ltd
- Thiess Contractors Indonesia
- Posco Energy - South Korea
- Borneo Indobara - Indonesia
- Wood Mackenzie - Singapore
- Georgia Ports Authority, United States
- Star Paper Mills Limited - India
- Power Finance Corporation Ltd., India
- CNBM International Corporation - China
- Vedanta Resources Plc - India
- Barasentosa Lestari - Indonesia
- IHS Mccloskey Coal Group - USA
- Eastern Coal Council - USA
- Aditya Birla Group - India
- Goldman Sachs - Singapore
- San Jose City I Power Corp, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Dalmia Cement Bharat India
- Minerals Council of Australia
- Directorate Of Revenue Intelligence - India
- Bharathi Cement Corporation - India
- Central Electricity Authority - India
- TeaM Sual Corporation - Philippines
- Energy Development Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Rio Tinto Coal - Australia
- Bukit Baiduri Energy - Indonesia
- Global Business Power Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Bhushan Steel Limited - India
- Asmin Koalindo Tuhup - Indonesia
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