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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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Monday, 11 February 13
NEWCASTLE PORT SHIPPED 23.01 PERCENT MORE COAL W-O-W
COALspot.com - Newcastle port in Australia has loaded 2,967,761 MT of thermal and coking coal for week ended 0700 hours 11 February 2013, Newc ...
Sunday, 10 February 13
INDONESIA SUB-BIT SWAPS: "UP" - CFR SOUTH CHINA SWAPS: "DOWN"
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for average Q2’ 2013 delivery has gained 0.72 percent W-O-W and CFR South China coal shipme ...
Sunday, 10 February 13
DRY BULK OVERSUPPLY OF TONNAGE SEEN WANING IN THE COMING MONTHS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
It seems that the tide could be shifting in the dry bulk market, in terms of tonnage oversupply, according to the latest data figures. This could ex ...
Sunday, 10 February 13
HIGHER BUNKER PRICE PUSHES SEA FREIGHTS FIRM - REDDY
COALspot.com - The freight market was soft and all at same levels with Chinese year holidays next week.
The BDI was slightly down by 0.27 pct ad ...
Friday, 08 February 13
NORTH P&I CLUB WARNS OF LIQUEFACTION RISK FOR BAUXITE CARGOES
The ‘A’ rated 170 million GT North P&I club has warned shipowners carrying bauxite aluminium ore cargoes that they have the potentia ...
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- Jorong Barutama Greston.PT - Indonesia
- Essar Steel Hazira Ltd - India
- Gujarat Electricity Regulatory Commission - India
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- Kaltim Prima Coal - Indonesia
- Australian Commodity Traders Exchange
- Bhatia International Limited - India
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- Posco Energy - South Korea
- Edison Trading Spa - Italy
- San Jose City I Power Corp, Philippines
- Simpson Spence & Young - Indonesia
- Toyota Tsusho Corporation, Japan
- Pendopo Energi Batubara - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Rashtriya Ispat Nigam Limited - India
- Ministry of Finance - Indonesia
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- Mercator Lines Limited - India
- Carbofer General Trading SA - India
- Dalmia Cement Bharat India
- Larsen & Toubro Limited - India
- Alfred C Toepfer International GmbH - Germany
- Vedanta Resources Plc - India
- Semirara Mining and Power Corporation, Philippines
- Eastern Coal Council - USA
- Bayan Resources Tbk. - Indonesia
- Bhoruka Overseas - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bangladesh Power Developement Board
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- Orica Mining Services - Indonesia
- Oldendorff Carriers - Singapore
- Minerals Council of Australia
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- Coastal Gujarat Power Limited - India
- Videocon Industries ltd - India
- Sojitz Corporation - Japan
- Grasim Industreis Ltd - India
- IHS Mccloskey Coal Group - USA
- GVK Power & Infra Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Samtan Co., Ltd - South Korea
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- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Medco Energi Mining Internasional
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- Meralco Power Generation, Philippines
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- Africa Commodities Group - South Africa
- Jaiprakash Power Ventures ltd
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- Coalindo Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Banpu Public Company Limited - Thailand
- Port Waratah Coal Services - Australia
- Power Finance Corporation Ltd., India
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- Madhucon Powers Ltd - India
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- Eastern Energy - Thailand
- Intertek Mineral Services - Indonesia
- Siam City Cement - Thailand
- Riau Bara Harum - Indonesia
- Maheswari Brothers Coal Limited - India
- SMC Global Power, Philippines
- Sarangani Energy Corporation, Philippines
- Thai Mozambique Logistica
- Marubeni Corporation - India
- Goldman Sachs - Singapore
- Kobexindo Tractors - Indoneisa
- Indian Oil Corporation Limited
- Semirara Mining Corp, Philippines
- Kapuas Tunggal Persada - Indonesia
- Global Green Power PLC Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Bukit Baiduri Energy - Indonesia
- Wilmar Investment Holdings
- Offshore Bulk Terminal Pte Ltd, Singapore
- Directorate Of Revenue Intelligence - India
- Asmin Koalindo Tuhup - Indonesia
- GMR Energy Limited - India
- Interocean Group of Companies - India
- CIMB Investment Bank - Malaysia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Orica Australia Pty. Ltd.
- Indo Tambangraya Megah - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Uttam Galva Steels Limited - India
- Makarim & Taira - Indonesia
- The University of Queensland
- Attock Cement Pakistan Limited
- Singapore Mercantile Exchange
- Bhushan Steel Limited - India
- Cigading International Bulk Terminal - Indonesia
- Price Waterhouse Coopers - Russia
- Ambuja Cements Ltd - India
- ICICI Bank Limited - India
- Indian Energy Exchange, India
- PTC India Limited - India
- Georgia Ports Authority, United States
- VISA Power Limited - India
- Ministry of Mines - Canada
- Chamber of Mines of South Africa
- Energy Development Corp, Philippines
- Economic Council, Georgia
- Star Paper Mills Limited - India
- Indonesian Coal Mining Association
- PetroVietnam Power Coal Import and Supply Company
- Deloitte Consulting - India
- Kideco Jaya Agung - Indonesia
- McConnell Dowell - Australia
- Antam Resourcindo - Indonesia
- Kepco SPC Power Corporation, Philippines
- Mintek Dendrill Indonesia
- GAC Shipping (India) Pvt Ltd
- Jindal Steel & Power Ltd - India
- Australian Coal Association
- Ceylon Electricity Board - Sri Lanka
- Metalloyd Limited - United Kingdom
- Barasentosa Lestari - Indonesia
- Indogreen Group - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Electricity Authority, New Zealand
- Central Electricity Authority - India
- Planning Commission, India
- Romanian Commodities Exchange
- Petrochimia International Co. Ltd.- Taiwan
- Central Java Power - Indonesia
- Aditya Birla Group - India
- Formosa Plastics Group - Taiwan
- Gujarat Sidhee Cement - India
- Neyveli Lignite Corporation Ltd, - India
- SN Aboitiz Power Inc, Philippines
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- LBH Netherlands Bv - Netherlands
- Global Business Power Corporation, Philippines
- Commonwealth Bank - Australia
- Vijayanagar Sugar Pvt Ltd - India
- ASAPP Information Group - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bharathi Cement Corporation - India
- Binh Thuan Hamico - Vietnam
- Merrill Lynch Commodities Europe
- Aboitiz Power Corporation - Philippines
- Meenaskhi Energy Private Limited - India
- Petron Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Parry Sugars Refinery, India
- Electricity Generating Authority of Thailand
- Indika Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- European Bulk Services B.V. - Netherlands
- Kumho Petrochemical, South Korea
- IEA Clean Coal Centre - UK
- Heidelberg Cement - Germany
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mercuria Energy - Indonesia
- Siam City Cement PLC, Thailand
- Sical Logistics Limited - India
- Borneo Indobara - Indonesia
- Therma Luzon, Inc, Philippines
- Energy Link Ltd, New Zealand
- Sakthi Sugars Limited - India
- The State Trading Corporation of India Ltd
- PowerSource Philippines DevCo
- Gujarat Mineral Development Corp Ltd - India
- International Coal Ventures Pvt Ltd - India
- Rio Tinto Coal - Australia
- South Luzon Thermal Energy Corporation
- Altura Mining Limited, Indonesia
- White Energy Company Limited
- London Commodity Brokers - England
- Krishnapatnam Port Company Ltd. - India
- Manunggal Multi Energi - Indonesia
- SMG Consultants - Indonesia
- Cement Manufacturers Association - India
- Bahari Cakrawala Sebuku - Indonesia
- New Zealand Coal & Carbon
- Tamil Nadu electricity Board
- Ind-Barath Power Infra Limited - India
- Thiess Contractors Indonesia
- Trasteel International SA, Italy
- Independent Power Producers Association of India
- India Bulls Power Limited - India
- Parliament of New Zealand
- Renaissance Capital - South Africa
- Wood Mackenzie - Singapore
- PNOC Exploration Corporation - Philippines
- Directorate General of MIneral and Coal - Indonesia
- Lanco Infratech Ltd - India
- Straits Asia Resources Limited - Singapore
- Baramulti Group, Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Mjunction Services Limited - India
- MS Steel International - UAE
- AsiaOL BioFuels Corp., Philippines
- Latin American Coal - Colombia
- Vizag Seaport Private Limited - India
- Salva Resources Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Leighton Contractors Pty Ltd - Australia
- OPG Power Generation Pvt Ltd - India
- Anglo American - United Kingdom
- Timah Investasi Mineral - Indoneisa
- Global Coal Blending Company Limited - Australia
- The Treasury - Australian Government
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- CNBM International Corporation - China
- Ministry of Transport, Egypt
- Coal and Oil Company - UAE
- Holcim Trading Pte Ltd - Singapore
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