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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, 28 February 13
INDIA HAS INCREASED CUSTOMS DUTY AND COUNTERVAILING DUTY FOR POWER PLANT COAL
COALspot.com : The government of India raised basic customs duty and countervailing duty on steam coal. In the meantime government has reduced& ...
Thursday, 28 February 13
SHIP OWNERS EXPECTED TO FACE A CHALLENGING YEAR, DESPITE THE FALL OF NEWBUILDING ORDERS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Tonnage oversupply and a lagging growth in world trade demand are expected to keep shipping in the "red", despite a series of measures ado ...
Thursday, 28 February 13
PANAMAX : MARKET HAS SEEN A GOOD UPTURN OVER THE LAST WEEK - FEARNLEYS
Handy
The Atlantic saw more cargoes than last week and rates ticking upwards. The USG-Feast was at USD 19k and Black Sea-Feast was at USD 11k. The ...
Wednesday, 27 February 13
NEWCASTLE PORT IN AUSTRALIA SHIPPED 0.358 MILLION MT MORE COAL W-O-W
COALspot.com - Newcastle port in Australia has loaded 2,178,869 MT of thermal and coking coal for week ended 0700 hours 25 February 2013, Newc ...
Wednesday, 27 February 13
NEWLEAD HOLDINGS LTD. ANNOUNCES COAL SUPPLY AND DELIVERY CONTRACT
NewLead Holdings Ltd. yesterday announced that the Company has signed an agreement to supply and deliver 1.48 million metric tons of steam coal to a ...
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- Attock Cement Pakistan Limited
- Miang Besar Coal Terminal - Indonesia
- Uttam Galva Steels Limited - India
- Kepco SPC Power Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Samtan Co., Ltd - South Korea
- Kideco Jaya Agung - Indonesia
- Global Coal Blending Company Limited - Australia
- Medco Energi Mining Internasional
- Meenaskhi Energy Private Limited - India
- Marubeni Corporation - India
- Star Paper Mills Limited - India
- White Energy Company Limited
- Asia Pacific Energy Resources Ventures Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- India Bulls Power Limited - India
- Riau Bara Harum - Indonesia
- Australian Commodity Traders Exchange
- Thai Mozambique Logistica
- Alfred C Toepfer International GmbH - Germany
- Bhoruka Overseas - Indonesia
- Bayan Resources Tbk. - Indonesia
- South Luzon Thermal Energy Corporation
- Coal and Oil Company - UAE
- Sojitz Corporation - Japan
- Power Finance Corporation Ltd., India
- Kartika Selabumi Mining - Indonesia
- Jaiprakash Power Ventures ltd
- Romanian Commodities Exchange
- Ministry of Transport, Egypt
- Maharashtra Electricity Regulatory Commission - India
- San Jose City I Power Corp, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GMR Energy Limited - India
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- VISA Power Limited - India
- Karaikal Port Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Interocean Group of Companies - India
- Commonwealth Bank - Australia
- Economic Council, Georgia
- Pendopo Energi Batubara - Indonesia
- Bukit Makmur.PT - Indonesia
- CIMB Investment Bank - Malaysia
- Siam City Cement - Thailand
- Port Waratah Coal Services - Australia
- Madhucon Powers Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Rashtriya Ispat Nigam Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Simpson Spence & Young - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indian Oil Corporation Limited
- Pipit Mutiara Jaya. PT, Indonesia
- Therma Luzon, Inc, Philippines
- Eastern Coal Council - USA
- McConnell Dowell - Australia
- Singapore Mercantile Exchange
- SMC Global Power, Philippines
- Globalindo Alam Lestari - Indonesia
- Electricity Generating Authority of Thailand
- Cement Manufacturers Association - India
- LBH Netherlands Bv - Netherlands
- Bukit Baiduri Energy - Indonesia
- Merrill Lynch Commodities Europe
- Karbindo Abesyapradhi - Indoneisa
- Indo Tambangraya Megah - Indonesia
- GAC Shipping (India) Pvt Ltd
- Thiess Contractors Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Mjunction Services Limited - India
- Global Green Power PLC Corporation, Philippines
- Metalloyd Limited - United Kingdom
- SMG Consultants - Indonesia
- Ministry of Finance - Indonesia
- International Coal Ventures Pvt Ltd - India
- Makarim & Taira - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Vizag Seaport Private Limited - India
- Borneo Indobara - Indonesia
- Orica Australia Pty. Ltd.
- Salva Resources Pvt Ltd - India
- Independent Power Producers Association of India
- Parliament of New Zealand
- Banpu Public Company Limited - Thailand
- Posco Energy - South Korea
- GVK Power & Infra Limited - India
- Malabar Cements Ltd - India
- Africa Commodities Group - South Africa
- Directorate Of Revenue Intelligence - India
- Sindya Power Generating Company Private Ltd
- Chettinad Cement Corporation Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Aditya Birla Group - India
- GN Power Mariveles Coal Plant, Philippines
- Grasim Industreis Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Standard Chartered Bank - UAE
- Wilmar Investment Holdings
- Rio Tinto Coal - Australia
- Sakthi Sugars Limited - India
- Mercuria Energy - Indonesia
- London Commodity Brokers - England
- Ambuja Cements Ltd - India
- Tata Chemicals Ltd - India
- Indian Energy Exchange, India
- Antam Resourcindo - Indonesia
- CNBM International Corporation - China
- Bhatia International Limited - India
- Ceylon Electricity Board - Sri Lanka
- Electricity Authority, New Zealand
- Coalindo Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Intertek Mineral Services - Indonesia
- Kumho Petrochemical, South Korea
- PowerSource Philippines DevCo
- Deloitte Consulting - India
- Australian Coal Association
- Sical Logistics Limited - India
- Jindal Steel & Power Ltd - India
- Timah Investasi Mineral - Indoneisa
- Vedanta Resources Plc - India
- Bulk Trading Sa - Switzerland
- Kohat Cement Company Ltd. - Pakistan
- Kobexindo Tractors - Indoneisa
- SN Aboitiz Power Inc, Philippines
- Essar Steel Hazira Ltd - India
- Mintek Dendrill Indonesia
- Ind-Barath Power Infra Limited - India
- Planning Commission, India
- Renaissance Capital - South Africa
- Bukit Asam (Persero) Tbk - Indonesia
- The University of Queensland
- Kaltim Prima Coal - Indonesia
- Ministry of Mines - Canada
- Asmin Koalindo Tuhup - Indonesia
- Iligan Light & Power Inc, Philippines
- Xindia Steels Limited - India
- Sree Jayajothi Cements Limited - India
- Indogreen Group - Indonesia
- Lanco Infratech Ltd - India
- Edison Trading Spa - Italy
- Price Waterhouse Coopers - Russia
- Meralco Power Generation, Philippines
- Eastern Energy - Thailand
- The State Trading Corporation of India Ltd
- Global Business Power Corporation, Philippines
- Petron Corporation, Philippines
- ASAPP Information Group - India
- Semirara Mining Corp, Philippines
- TeaM Sual Corporation - Philippines
- Cigading International Bulk Terminal - Indonesia
- Indonesian Coal Mining Association
- Binh Thuan Hamico - Vietnam
- Mercator Lines Limited - India
- New Zealand Coal & Carbon
- Manunggal Multi Energi - Indonesia
- MS Steel International - UAE
- Parry Sugars Refinery, India
- Heidelberg Cement - Germany
- Orica Mining Services - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Energy Development Corp, Philippines
- Anglo American - United Kingdom
- Agrawal Coal Company - India
- PNOC Exploration Corporation - Philippines
- Videocon Industries ltd - India
- Savvy Resources Ltd - HongKong
- Neyveli Lignite Corporation Ltd, - India
- Central Electricity Authority - India
- Bangladesh Power Developement Board
- Maheswari Brothers Coal Limited - India
- Central Java Power - Indonesia
- Goldman Sachs - Singapore
- Dalmia Cement Bharat India
- TNB Fuel Sdn Bhd - Malaysia
- PTC India Limited - India
- Sinarmas Energy and Mining - Indonesia
- Straits Asia Resources Limited - Singapore
- Kapuas Tunggal Persada - Indonesia
- Trasteel International SA, Italy
- Aboitiz Power Corporation - Philippines
- Bharathi Cement Corporation - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Minerals Council of Australia
- Bhushan Steel Limited - India
- Baramulti Group, Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Formosa Plastics Group - Taiwan
- Larsen & Toubro Limited - India
- Energy Link Ltd, New Zealand
- Tamil Nadu electricity Board
- Leighton Contractors Pty Ltd - Australia
- Toyota Tsusho Corporation, Japan
- Altura Mining Limited, Indonesia
- The Treasury - Australian Government
- Siam City Cement PLC, Thailand
- Gujarat Sidhee Cement - India
- Georgia Ports Authority, United States
- Carbofer General Trading SA - India
- IEA Clean Coal Centre - UK
- Holcim Trading Pte Ltd - Singapore
- Chamber of Mines of South Africa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Oldendorff Carriers - Singapore
- Indika Energy - Indonesia
- Wood Mackenzie - Singapore
- ICICI Bank Limited - India
- Latin American Coal - Colombia
- European Bulk Services B.V. - Netherlands
- IHS Mccloskey Coal Group - USA
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