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Monday, 13 June 11
THE INDONESIAN COAL REFERENCE PRICE HAS JUMPED 1.2 PERCENT IN JUNE
 COALspot.com - The Ministry of Energy & Mineral Resources sets coal spot price benchmark for June 2011 at US$ 119.03 per ton, higher than US$ 1.42 per ton in May 2011.
This coal benchmark was calcualted coal with calorie of 6,322kcal/kg (GAR), stated to be using formula based on the May 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%, Ash Content 15.00% and delivery free on Board (FOB) Vessel basis and applicable for spot contract, delivery between 1 - 30 June 2011.
The government of Indonesia has been publishing a monthly coal reference price (HBA) since February 2010 to be used by coal producers for all future spot and term contracts. The June HBA was 22.43 percent higher Y-o-Y.
The price is only valid for spot price, while as for term price, the benchmark is using the average of recent 3 months benchmark prices and valid 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 coal prices are also gaining on a shortage of coal in China to meet summer demand, said a coal trader from Kalimantan. Chinese local media reported that, Beijing may cut the 17 percent value-added tax and port charges on imported coal to encourage more overseas purchases. China is now facing its worst summer power shortage in seven years, as quoted by Chinese as well as International medias.
Indian high energy demand also has influenced the coal prices in recent weeks says another coal trader from Jakarta.
Click here for complete details of Indonesian coal reference prices since Feb 2010.(cs)
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Monday, 30 November 09
INDIA UTILITIES MOVE TO COAL INDEX - PRICING
Indian state utilities are leading a switch to coal index-linked pricing from fixed prices to secure imports and to be visibly paying fair market pr ...
Monday, 30 November 09
RECAPITAL TO ACQUIRE BERAU COAL
Unlisted Indonesian coal producer Berau will redeem outstanding bonds before the acquisition by Recapital Advisers is completed by the end of this y ...
Friday, 27 November 09
IMPORTING LIGNITE INTO COAL RICH KOSOVO
Balkan Insight has discovered that one of Kosovo’s biggest firms is being forced to import lignite from Malaysia and Indonesia, despite estima ...
Friday, 27 November 09
SOUTH AFRICA STILL TOPS IN COAL EXPORT RANKINGS
Mining Weekly reported that, Despite significant coal-mining capacity recently discovered in the Southern African region, according to senior coal a ...
Friday, 27 November 09
BHP SEEKS VARIABLE COKING COAL PRICE IN JAPAN, NIKKEI SAYS
Bloomberg reproted that, BHP Billiton Ltd. has asked Japanese steelmakers to move to pricing of coking coal linked to spot rates rather than negotia ...
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- Ceylon Electricity Board - Sri Lanka
- Orica Mining Services - Indonesia
- Maheswari Brothers Coal Limited - India
- Jorong Barutama Greston.PT - Indonesia
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- Parliament of New Zealand
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- Bulk Trading Sa - Switzerland
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- Samtan Co., Ltd - South Korea
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- McConnell Dowell - Australia
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- Merrill Lynch Commodities Europe
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- GMR Energy Limited - India
- Chamber of Mines of South Africa
- Mercuria Energy - Indonesia
- IEA Clean Coal Centre - UK
- Star Paper Mills Limited - India
- Kapuas Tunggal Persada - Indonesia
- Metalloyd Limited - United Kingdom
- Eastern Coal Council - USA
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- Electricity Authority, New Zealand
- White Energy Company Limited
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- Bukit Makmur.PT - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
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- The University of Queensland
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- Alfred C Toepfer International GmbH - Germany
- Savvy Resources Ltd - HongKong
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- Singapore Mercantile Exchange
- Standard Chartered Bank - UAE
- Deloitte Consulting - India
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- European Bulk Services B.V. - Netherlands
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- Karbindo Abesyapradhi - Indoneisa
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- Indian Energy Exchange, India
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- Bhoruka Overseas - Indonesia
- Meenaskhi Energy Private Limited - India
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- ICICI Bank Limited - India
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- Global Coal Blending Company Limited - Australia
- Planning Commission, India
- MS Steel International - UAE
- Simpson Spence & Young - Indonesia
- Renaissance Capital - South Africa
- Australian Commodity Traders Exchange
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- The Treasury - Australian Government
- Minerals Council of Australia
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- Mintek Dendrill Indonesia
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- Energy Link Ltd, New Zealand
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- Mjunction Services Limited - India
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