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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, 19 March 13
SHIP PRICES COULD BE CLOSING IN TO REACH THEIR BOTTOM - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
One of the latest developments in shipping asset prices has been the reluctance from shipyards to further reduce their price expectations to higher ...
Sunday, 17 March 13
A WEAK WEEK FOR SUB-BIT INDONESIA COAL SWAPS
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for average Q2’ 2013 delivery has lost 2.11 percent and CFR South China coal shipment ...
Sunday, 17 March 13
COAL FREIGHT RATES STEADY ON HIGHER DEMAND - CAPT. REDDY
COALspot.com - This freight market continued to remain firm in all segments.
The BDI was up by 5.81 pct closing at 892 points. Cape index was up ...
Friday, 15 March 13
CHEAP SHIP VALUATIONS DON'T NECESSARILY MEAN ATTRACTIVE SAYS VESSELS VALUE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
With ship prices plunging by double-digits in the past few years, many ship owners are pondering their next moves in a market often described as att ...
Thursday, 14 March 13
SUPRAMAX : INDO - INDIA TRIP RATE IS AROUND $10,000; SOUTH CHINA $9500 - FEARNRESEARCH
Handy
Indian market is still quiet in respect of export of iron ore. WC India market has improved with a few stems out of the MEG, WC India opening ...
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- GVK Power & Infra Limited - India
- Kideco Jaya Agung - Indonesia
- Coalindo Energy - Indonesia
- SMC Global Power, Philippines
- Renaissance Capital - South Africa
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- Thai Mozambique Logistica
- Gujarat Sidhee Cement - India
- Neyveli Lignite Corporation Ltd, - India
- Siam City Cement - Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Larsen & Toubro Limited - India
- Riau Bara Harum - Indonesia
- European Bulk Services B.V. - Netherlands
- Salva Resources Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Directorate Of Revenue Intelligence - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Economic Council, Georgia
- Star Paper Mills Limited - India
- Tata Chemicals Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Mintek Dendrill Indonesia
- Wilmar Investment Holdings
- Jaiprakash Power Ventures ltd
- Alfred C Toepfer International GmbH - Germany
- Bhoruka Overseas - Indonesia
- Carbofer General Trading SA - India
- Minerals Council of Australia
- Africa Commodities Group - South Africa
- Coastal Gujarat Power Limited - India
- Semirara Mining Corp, Philippines
- Sakthi Sugars Limited - India
- Australian Commodity Traders Exchange
- Rio Tinto Coal - Australia
- PNOC Exploration Corporation - Philippines
- Kapuas Tunggal Persada - Indonesia
- Eastern Coal Council - USA
- Independent Power Producers Association of India
- Vedanta Resources Plc - India
- Simpson Spence & Young - Indonesia
- Therma Luzon, Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Formosa Plastics Group - Taiwan
- Mercuria Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- PTC India Limited - India
- Chettinad Cement Corporation Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Malabar Cements Ltd - India
- Posco Energy - South Korea
- Price Waterhouse Coopers - Russia
- Grasim Industreis Ltd - India
- ICICI Bank Limited - India
- Ministry of Mines - Canada
- Bayan Resources Tbk. - Indonesia
- Bhatia International Limited - India
- Barasentosa Lestari - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- VISA Power Limited - India
- Ministry of Finance - Indonesia
- Parliament of New Zealand
- Karbindo Abesyapradhi - Indoneisa
- Romanian Commodities Exchange
- Wood Mackenzie - Singapore
- Dalmia Cement Bharat India
- Binh Thuan Hamico - Vietnam
- Global Business Power Corporation, Philippines
- Australian Coal Association
- Jorong Barutama Greston.PT - Indonesia
- Toyota Tsusho Corporation, Japan
- The Treasury - Australian Government
- Kepco SPC Power Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- SN Aboitiz Power Inc, Philippines
- ASAPP Information Group - India
- The State Trading Corporation of India Ltd
- Bangladesh Power Developement Board
- Power Finance Corporation Ltd., India
- Energy Link Ltd, New Zealand
- Port Waratah Coal Services - Australia
- Gujarat Mineral Development Corp Ltd - India
- Kumho Petrochemical, South Korea
- Iligan Light & Power Inc, Philippines
- Essar Steel Hazira Ltd - India
- Commonwealth Bank - Australia
- Aditya Birla Group - India
- TeaM Sual Corporation - Philippines
- Maharashtra Electricity Regulatory Commission - India
- Attock Cement Pakistan Limited
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indonesian Coal Mining Association
- Bahari Cakrawala Sebuku - Indonesia
- Eastern Energy - Thailand
- Agrawal Coal Company - India
- London Commodity Brokers - England
- SMG Consultants - Indonesia
- Lanco Infratech Ltd - India
- Thiess Contractors Indonesia
- Ceylon Electricity Board - Sri Lanka
- Indogreen Group - Indonesia
- Electricity Authority, New Zealand
- Georgia Ports Authority, United States
- San Jose City I Power Corp, Philippines
- Meenaskhi Energy Private Limited - India
- Petron Corporation, Philippines
- Medco Energi Mining Internasional
- CNBM International Corporation - China
- Orica Australia Pty. Ltd.
- South Luzon Thermal Energy Corporation
- Uttam Galva Steels Limited - India
- Mjunction Services Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Tamil Nadu electricity Board
- Interocean Group of Companies - India
- Billiton Holdings Pty Ltd - Australia
- India Bulls Power Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Latin American Coal - Colombia
- AsiaOL BioFuels Corp., Philippines
- Energy Development Corp, Philippines
- International Coal Ventures Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Central Electricity Authority - India
- Siam City Cement PLC, Thailand
- Maheswari Brothers Coal Limited - India
- Heidelberg Cement - Germany
- Electricity Generating Authority of Thailand
- Indian Energy Exchange, India
- Standard Chartered Bank - UAE
- Karaikal Port Pvt Ltd - India
- Sojitz Corporation - Japan
- Videocon Industries ltd - India
- Edison Trading Spa - Italy
- Bulk Trading Sa - Switzerland
- Indo Tambangraya Megah - Indonesia
- Jindal Steel & Power Ltd - India
- Chamber of Mines of South Africa
- Marubeni Corporation - India
- Global Coal Blending Company Limited - Australia
- Krishnapatnam Port Company Ltd. - India
- CIMB Investment Bank - Malaysia
- Trasteel International SA, Italy
- New Zealand Coal & Carbon
- Anglo American - United Kingdom
- McConnell Dowell - Australia
- Indian Oil Corporation Limited
- Bhushan Steel Limited - India
- Sarangani Energy Corporation, Philippines
- Goldman Sachs - Singapore
- Altura Mining Limited, Indonesia
- Sinarmas Energy and Mining - Indonesia
- Intertek Mineral Services - Indonesia
- Samtan Co., Ltd - South Korea
- IHS Mccloskey Coal Group - USA
- Vizag Seaport Private Limited - India
- Oldendorff Carriers - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ministry of Transport, Egypt
- Sindya Power Generating Company Private Ltd
- Straits Asia Resources Limited - Singapore
- Baramulti Group, Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Singapore Mercantile Exchange
- Ind-Barath Power Infra Limited - India
- Banpu Public Company Limited - Thailand
- Mercator Lines Limited - India
- Manunggal Multi Energi - Indonesia
- Kartika Selabumi Mining - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- PowerSource Philippines DevCo
- Ambuja Cements Ltd - India
- Bharathi Cement Corporation - India
- Xindia Steels Limited - India
- Coal and Oil Company - UAE
- GMR Energy Limited - India
- Borneo Indobara - Indonesia
- Parry Sugars Refinery, India
- Kaltim Prima Coal - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- GN Power Mariveles Coal Plant, Philippines
- MS Steel International - UAE
- Kobexindo Tractors - Indoneisa
- Planning Commission, India
- Global Green Power PLC Corporation, Philippines
- Indika Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- Sical Logistics Limited - India
- LBH Netherlands Bv - Netherlands
- Central Java Power - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- IEA Clean Coal Centre - UK
- Merrill Lynch Commodities Europe
- Orica Mining Services - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Antam Resourcindo - Indonesia
- OPG Power Generation Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Kalimantan Lumbung Energi - Indonesia
- White Energy Company Limited
- The University of Queensland
- Bukit Baiduri Energy - Indonesia
- Meralco Power Generation, Philippines
- Sree Jayajothi Cements Limited - India
- Cement Manufacturers Association - India
- Aboitiz Power Corporation - Philippines
- Savvy Resources Ltd - HongKong
- Bukit Makmur.PT - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Makarim & Taira - Indonesia
- Globalindo Alam Lestari - Indonesia
- Deloitte Consulting - India
- Madhucon Powers Ltd - India
- Metalloyd Limited - United Kingdom
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