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Thursday, 14 July 11
INDO GOVT. SETS JULY COAL REFERENCE PRICE AT US$ 118.24 PER TON
 COALspot.com - The Ministry of Energy & Mineral Resources of Indonesia sets coal spot price benchmark for July 2011 at US$ 118.24 per ton, US$ 0.79 lesser than June 2011 Price.
This coal benchmark price was calcualted coal with calorie of 6,322kcal/kg (GAR), stated to be using formula based on the June 2011 index average of ICI-1 (Indonesia Coal Index), Platts-1, NEX (Newcastle Export Index), and GC (globalCoal Index).
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 - 31 July 2011.
The government of Indonesia has been publishing a monthly coal reference price (HBA & HPB) since February 2010 to be used by coal producers for all future spot and term contracts. The June HBA was 22.33 percent higher Y-o-Y.
The price was only valid for spot price, while as for term price, the average referance price (HPB) of the previous 3 months.(50% of last month HPB, 30% of a month earlier HPB and 20% of two months earlier HPB) for coal contract at least 12 months.
Government also declared reference price for eight brands of Indonesia's coal, which are most commonly traded in the market. Those eight brands are act as benchmark and used to calculate other 54 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 will have to be revised to comply with new coal pricing regulations before September 23, 2011.
As a result of the Indonesian new pricing formula, price of Indonesian coal will go up by $30 a tonne and lead to a INR 0.70 (Approx. US$ 0.015) per unit increase in cost of electricity generation, as quoted by an Indian paper.
Indonesian government also drafting a regulation to ban coal with calorific value below 5100 kcal/kg on air dried basis for the export market by 12 January 2014. Indonesian coal producers were asked to add value for their product such as washing, crishing, blending and upgrading to have higher-value product prior to eye on the export market.
Raw coal export will also be restricted.
Indonesian physical coal prices also seem to be soft this week due to less demand from chinese buyers. Coal miner PT Bayan Resources Tbk, has recently entered into a conditional sales and purchase agreement to supply 100 million metric tons of low sulphur coal for 15 years commencing on 2015 to an Indian company.
Click here for complete details of Indonesian coal reference prices since Feb 2010.(cs)
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- Kepco SPC Power Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
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- Indian Energy Exchange, India
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- Eastern Coal Council - USA
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- Offshore Bulk Terminal Pte Ltd, Singapore
- Star Paper Mills Limited - India
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- Commonwealth Bank - Australia
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- Straits Asia Resources Limited - Singapore
- Cement Manufacturers Association - India
- Electricity Generating Authority of Thailand
- Directorate General of MIneral and Coal - Indonesia
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- Pipit Mutiara Jaya. PT, Indonesia
- The Treasury - Australian Government
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- GAC Shipping (India) Pvt Ltd
- San Jose City I Power Corp, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
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- Ministry of Finance - Indonesia
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- Essar Steel Hazira Ltd - India
- Bangladesh Power Developement Board
- MS Steel International - UAE
- Sree Jayajothi Cements Limited - India
- Electricity Authority, New Zealand
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- New Zealand Coal & Carbon
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- Chettinad Cement Corporation Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Kobexindo Tractors - Indoneisa
- Wilmar Investment Holdings
- McConnell Dowell - Australia
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- Bhoruka Overseas - Indonesia
- Therma Luzon, Inc, Philippines
- Videocon Industries ltd - India
- Minerals Council of Australia
- The University of Queensland
- Meenaskhi Energy Private Limited - India
- Ministry of Transport, Egypt
- Indian Oil Corporation Limited
- Dalmia Cement Bharat India
- Eastern Energy - Thailand
- Chamber of Mines of South Africa
- IEA Clean Coal Centre - UK
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- Ceylon Electricity Board - Sri Lanka
- Kumho Petrochemical, South Korea
- Parliament of New Zealand
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- Antam Resourcindo - Indonesia
- European Bulk Services B.V. - Netherlands
- PNOC Exploration Corporation - Philippines
- Edison Trading Spa - Italy
- Bulk Trading Sa - Switzerland
- Vijayanagar Sugar Pvt Ltd - India
- Ambuja Cements Ltd - India
- Energy Development Corp, Philippines
- Indika Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Orica Mining Services - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- International Coal Ventures Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Semirara Mining and Power Corporation, Philippines
- Uttam Galva Steels Limited - India
- Central Electricity Authority - India
- Toyota Tsusho Corporation, Japan
- Economic Council, Georgia
- Kalimantan Lumbung Energi - Indonesia
- Mercuria Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Sical Logistics Limited - India
- Ministry of Mines - Canada
- Holcim Trading Pte Ltd - Singapore
- Binh Thuan Hamico - Vietnam
- Grasim Industreis Ltd - India
- Vizag Seaport Private Limited - India
- Bharathi Cement Corporation - India
- Barasentosa Lestari - Indonesia
- Carbofer General Trading SA - India
- Bukit Asam (Persero) Tbk - Indonesia
- Goldman Sachs - Singapore
- Heidelberg Cement - Germany
- Leighton Contractors Pty Ltd - Australia
- AsiaOL BioFuels Corp., Philippines
- IHS Mccloskey Coal Group - USA
- Attock Cement Pakistan Limited
- GVK Power & Infra Limited - India
- Directorate Of Revenue Intelligence - India
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- Bhushan Steel Limited - India
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- Kaltim Prima Coal - Indonesia
- Indonesian Coal Mining Association
- White Energy Company Limited
- Global Coal Blending Company Limited - Australia
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- PTC India Limited - India
- The State Trading Corporation of India Ltd
- Trasteel International SA, Italy
- Sakthi Sugars Limited - India
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- Kapuas Tunggal Persada - Indonesia
- Bukit Makmur.PT - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Iligan Light & Power Inc, Philippines
- Medco Energi Mining Internasional
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- Planning Commission, India
- Energy Link Ltd, New Zealand
- Interocean Group of Companies - India
- Sindya Power Generating Company Private Ltd
- Singapore Mercantile Exchange
- Simpson Spence & Young - Indonesia
- VISA Power Limited - India
- Oldendorff Carriers - Singapore
- Metalloyd Limited - United Kingdom
- Price Waterhouse Coopers - Russia
- Renaissance Capital - South Africa
- Madhucon Powers Ltd - India
- SMC Global Power, Philippines
- Siam City Cement PLC, Thailand
- Salva Resources Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Makarim & Taira - Indonesia
- Wood Mackenzie - Singapore
- Posco Energy - South Korea
- SN Aboitiz Power Inc, Philippines
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- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Africa Commodities Group - South Africa
- Bukit Baiduri Energy - Indonesia
- Indogreen Group - Indonesia
- Gujarat Sidhee Cement - India
- South Luzon Thermal Energy Corporation
- Karbindo Abesyapradhi - Indoneisa
- Xindia Steels Limited - India
- Sojitz Corporation - Japan
- CIMB Investment Bank - Malaysia
- Independent Power Producers Association of India
- Riau Bara Harum - Indonesia
- GMR Energy Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Deloitte Consulting - India
- Sarangani Energy Corporation, Philippines
- Latin American Coal - Colombia
- Banpu Public Company Limited - Thailand
- Maheswari Brothers Coal Limited - India
- Bayan Resources Tbk. - Indonesia
- Siam City Cement - Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Central Java Power - Indonesia
- Orica Australia Pty. Ltd.
- Coal and Oil Company - UAE
- Mercator Lines Limited - India
- Global Business Power Corporation, Philippines
- Aditya Birla Group - India
- Kideco Jaya Agung - Indonesia
- Australian Commodity Traders Exchange
- Alfred C Toepfer International GmbH - Germany
- Lanco Infratech Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Cigading International Bulk Terminal - Indonesia
- TeaM Sual Corporation - Philippines
- Vedanta Resources Plc - India
- Meralco Power Generation, Philippines
- Rio Tinto Coal - Australia
- Georgia Ports Authority, United States
- Kartika Selabumi Mining - Indonesia
- Gujarat Electricity Regulatory Commission - India
- CNBM International Corporation - China
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bhatia International Limited - India
- Power Finance Corporation Ltd., India
- Coalindo Energy - Indonesia
- Port Waratah Coal Services - Australia
- Neyveli Lignite Corporation Ltd, - India
- ICICI Bank Limited - India
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