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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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Thursday, 14 March 13
DRY BULK MARKET KEEPS ON RISING MOMENTUM - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market has maintained its rising momentum, on the back of increased cargo availability. According to yesterday's figures, the industry ...
Thursday, 14 March 13
SHIPPERS AND CARRIERS NEED GREATER COMMUNICATION AND MUTUAL UNDERSTANDING
Press Release – Shippers and shipping lines both need to raise their game if global container supply chains are not to be habitually subject t ...
Wednesday, 13 March 13
NEWBUILDING PRICES EXHIBIT NO FALL IN PAST SIX MONTHS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Despite the fact that oversupply has been the key plague of the shipping markets in recent years and newbuilding ordering activity has receded subst ...
Tuesday, 12 March 13
COAL MINING PRIVATIZATION IN INDIA: MUST - SUNIL K KUMBHAT
COALspot.com - India has the one of the richest coal reserves in the world and the country should have shown significant progress and gained the pos ...
Tuesday, 12 March 13
NEWCASTLE PORT SHIPPED 2.47 MILLION TONS OF COAL W/E 11 MARCH 2013
COALspot.com - Newcastle port in Australia has loaded 2,471,080 MT of thermal and coking coal for week ended 0700 hours 11 March 2013, Newcast ...
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- LBH Netherlands Bv - Netherlands
- Price Waterhouse Coopers - Russia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Australian Commodity Traders Exchange
- Eastern Coal Council - USA
- Petrochimia International Co. Ltd.- Taiwan
- Bhushan Steel Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Kapuas Tunggal Persada - Indonesia
- GMR Energy Limited - India
- Essar Steel Hazira Ltd - India
- Minerals Council of Australia
- Sakthi Sugars Limited - India
- Maheswari Brothers Coal Limited - India
- Leighton Contractors Pty Ltd - Australia
- GAC Shipping (India) Pvt Ltd
- GN Power Mariveles Coal Plant, Philippines
- Aboitiz Power Corporation - Philippines
- Cement Manufacturers Association - India
- Planning Commission, India
- Gujarat Mineral Development Corp Ltd - India
- Edison Trading Spa - Italy
- Asmin Koalindo Tuhup - Indonesia
- Barasentosa Lestari - Indonesia
- Merrill Lynch Commodities Europe
- Samtan Co., Ltd - South Korea
- Bulk Trading Sa - Switzerland
- Orica Australia Pty. Ltd.
- Standard Chartered Bank - UAE
- Ceylon Electricity Board - Sri Lanka
- Mintek Dendrill Indonesia
- Bukit Baiduri Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Parliament of New Zealand
- Kalimantan Lumbung Energi - Indonesia
- Jindal Steel & Power Ltd - India
- Commonwealth Bank - Australia
- SMG Consultants - Indonesia
- SMC Global Power, Philippines
- Metalloyd Limited - United Kingdom
- Latin American Coal - Colombia
- Coalindo Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Lanco Infratech Ltd - India
- CIMB Investment Bank - Malaysia
- Neyveli Lignite Corporation Ltd, - India
- Toyota Tsusho Corporation, Japan
- Bhoruka Overseas - Indonesia
- Carbofer General Trading SA - India
- Kobexindo Tractors - Indoneisa
- Coal and Oil Company - UAE
- PowerSource Philippines DevCo
- Holcim Trading Pte Ltd - Singapore
- Indian Energy Exchange, India
- Eastern Energy - Thailand
- MS Steel International - UAE
- Riau Bara Harum - Indonesia
- Baramulti Group, Indonesia
- Indo Tambangraya Megah - Indonesia
- Siam City Cement PLC, Thailand
- Miang Besar Coal Terminal - Indonesia
- Global Business Power Corporation, Philippines
- Chamber of Mines of South Africa
- Attock Cement Pakistan Limited
- Trasteel International SA, Italy
- Vizag Seaport Private Limited - India
- Wilmar Investment Holdings
- Rashtriya Ispat Nigam Limited - India
- White Energy Company Limited
- Electricity Authority, New Zealand
- Goldman Sachs - Singapore
- Karaikal Port Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Bahari Cakrawala Sebuku - Indonesia
- Mjunction Services Limited - India
- Kaltim Prima Coal - Indonesia
- Semirara Mining Corp, Philippines
- Power Finance Corporation Ltd., India
- Globalindo Alam Lestari - Indonesia
- Intertek Mineral Services - Indonesia
- Straits Asia Resources Limited - Singapore
- Agrawal Coal Company - India
- Larsen & Toubro Limited - India
- Wood Mackenzie - Singapore
- Heidelberg Cement - Germany
- Madhucon Powers Ltd - India
- Meenaskhi Energy Private Limited - India
- Karbindo Abesyapradhi - Indoneisa
- The State Trading Corporation of India Ltd
- Dalmia Cement Bharat India
- New Zealand Coal & Carbon
- ICICI Bank Limited - India
- Manunggal Multi Energi - Indonesia
- Bhatia International Limited - India
- Port Waratah Coal Services - Australia
- Maharashtra Electricity Regulatory Commission - India
- ASAPP Information Group - India
- Savvy Resources Ltd - HongKong
- Borneo Indobara - Indonesia
- Deloitte Consulting - India
- Ministry of Transport, Egypt
- Bank of Tokyo Mitsubishi UFJ Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Banpu Public Company Limited - Thailand
- TeaM Sual Corporation - Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Coastal Gujarat Power Limited - India
- Singapore Mercantile Exchange
- Global Coal Blending Company Limited - Australia
- Bayan Resources Tbk. - Indonesia
- London Commodity Brokers - England
- Orica Mining Services - Indonesia
- Oldendorff Carriers - Singapore
- Mercuria Energy - Indonesia
- Rio Tinto Coal - Australia
- Meralco Power Generation, Philippines
- Salva Resources Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Sree Jayajothi Cements Limited - India
- The Treasury - Australian Government
- Cigading International Bulk Terminal - Indonesia
- Economic Council, Georgia
- Altura Mining Limited, Indonesia
- Bharathi Cement Corporation - India
- Jorong Barutama Greston.PT - Indonesia
- Independent Power Producers Association of India
- Thiess Contractors Indonesia
- Iligan Light & Power Inc, Philippines
- Videocon Industries ltd - India
- Sical Logistics Limited - India
- Therma Luzon, Inc, Philippines
- Ambuja Cements Ltd - India
- Petron Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Bukit Makmur.PT - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Parry Sugars Refinery, India
- Kohat Cement Company Ltd. - Pakistan
- The University of Queensland
- Siam City Cement - Thailand
- Sarangani Energy Corporation, Philippines
- Grasim Industreis Ltd - India
- Renaissance Capital - South Africa
- Kideco Jaya Agung - Indonesia
- GVK Power & Infra Limited - India
- Indogreen Group - Indonesia
- Bangladesh Power Developement Board
- European Bulk Services B.V. - Netherlands
- Thai Mozambique Logistica
- International Coal Ventures Pvt Ltd - India
- Ministry of Mines - Canada
- Australian Coal Association
- Timah Investasi Mineral - Indoneisa
- Gujarat Electricity Regulatory Commission - India
- Indika Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Marubeni Corporation - India
- Global Green Power PLC Corporation, Philippines
- Kumho Petrochemical, South Korea
- Vijayanagar Sugar Pvt Ltd - India
- Uttam Galva Steels Limited - India
- IHS Mccloskey Coal Group - USA
- McConnell Dowell - Australia
- Central Electricity Authority - India
- Africa Commodities Group - South Africa
- Pendopo Energi Batubara - Indonesia
- Interocean Group of Companies - India
- Aditya Birla Group - India
- India Bulls Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- Medco Energi Mining Internasional
- Mercator Lines Limited - India
- CNBM International Corporation - China
- IEA Clean Coal Centre - UK
- Energy Development Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Xindia Steels Limited - India
- Tata Chemicals Ltd - India
- Central Java Power - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Antam Resourcindo - Indonesia
- Georgia Ports Authority, United States
- Ministry of Finance - Indonesia
- Gujarat Sidhee Cement - India
- Indian Oil Corporation Limited
- Chettinad Cement Corporation Ltd - India
- Malabar Cements Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Makarim & Taira - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- SN Aboitiz Power Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- San Jose City I Power Corp, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Vedanta Resources Plc - India
- Sojitz Corporation - Japan
- Directorate Of Revenue Intelligence - India
- South Luzon Thermal Energy Corporation
- PNOC Exploration Corporation - Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Energy Link Ltd, New Zealand
- Ind-Barath Power Infra Limited - India
- Billiton Holdings Pty Ltd - Australia
- Star Paper Mills Limited - India
- Indonesian Coal Mining Association
- Simpson Spence & Young - Indonesia
- Electricity Generating Authority of Thailand
- Krishnapatnam Port Company Ltd. - India
- VISA Power Limited - India
- Posco Energy - South Korea
- Tamil Nadu electricity Board
- Anglo American - United Kingdom
- PTC India Limited - India
- Romanian Commodities Exchange
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