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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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Thursday, 22 October 09
2ND UNITED INDONESIA CABINET UNVEILED
The Jakarta Post reported that, President Susilo Bambang Yudhoyono announced his second United Indonesia Cabinet on Wednesday night, comprising 34 m ...
Thursday, 22 October 09
PEABODY SET TO TAP ASIAN DEMAND FOR COAL
The Australian reported that, US coal giant Peabody Energy plans to double its Queensland and NSW coal exports in the next five years, as it looks t ...
Wednesday, 21 October 09
INDONESIA POWER FIRM SEEKS TO DEFER COAL SUPPLIES
Reuters reported that, Indonesia's state power firm is negotiating with two coal producers, including a unit of PT Bumi Resources Tbk, to defer a c ...
Wednesday, 21 October 09
MINING REGULATION GENERATES CONFUSION IN INDONESIA
The Jakarta Globe reported that, Mining industry representatives said on Friday they were confused by a recently issued regulation restricting the w ...
Wednesday, 21 October 09
LAW ACCOMMODATES NATIONAL AND INVESTOR INTERESTS
COALspot.com (Indonesia): According to ESDM, the government has issued five Lawson the energy and mineral resources sector. These laws will prioriti ...
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- Indian Oil Corporation Limited
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- Bukit Makmur.PT - Indonesia
- Eastern Coal Council - USA
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- Timah Investasi Mineral - Indoneisa
- Indo Tambangraya Megah - Indonesia
- Eastern Energy - Thailand
- Romanian Commodities Exchange
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- Gujarat Mineral Development Corp Ltd - India
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- The State Trading Corporation of India Ltd
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- Trasteel International SA, Italy
- Gujarat Sidhee Cement - India
- Commonwealth Bank - Australia
- Samtan Co., Ltd - South Korea
- Edison Trading Spa - Italy
- Miang Besar Coal Terminal - Indonesia
- Interocean Group of Companies - India
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- Renaissance Capital - South Africa
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- Oldendorff Carriers - Singapore
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- Ministry of Mines - Canada
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- Lanco Infratech Ltd - India
- Sarangani Energy Corporation, Philippines
- The Treasury - Australian Government
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- Alfred C Toepfer International GmbH - Germany
- McConnell Dowell - Australia
- Central Electricity Authority - India
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- Jorong Barutama Greston.PT - Indonesia
- Larsen & Toubro Limited - India
- India Bulls Power Limited - India
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- London Commodity Brokers - England
- Parry Sugars Refinery, India
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- Deloitte Consulting - India
- Mjunction Services Limited - India
- Chettinad Cement Corporation Ltd - India
- Wilmar Investment Holdings
- TeaM Sual Corporation - Philippines
- Leighton Contractors Pty Ltd - Australia
- IEA Clean Coal Centre - UK
- Videocon Industries ltd - India
- New Zealand Coal & Carbon
- Makarim & Taira - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Therma Luzon, Inc, Philippines
- Indika Energy - Indonesia
- Carbofer General Trading SA - India
- Metalloyd Limited - United Kingdom
- Maharashtra Electricity Regulatory Commission - India
- IHS Mccloskey Coal Group - USA
- Bhoruka Overseas - Indonesia
- Toyota Tsusho Corporation, Japan
- Standard Chartered Bank - UAE
- Energy Link Ltd, New Zealand
- TNB Fuel Sdn Bhd - Malaysia
- Aditya Birla Group - India
- Kalimantan Lumbung Energi - Indonesia
- Bulk Trading Sa - Switzerland
- Uttam Galva Steels Limited - India
- Africa Commodities Group - South Africa
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- Manunggal Multi Energi - Indonesia
- Port Waratah Coal Services - Australia
- PTC India Limited - India
- SMC Global Power, Philippines
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- Indian Energy Exchange, India
- Coastal Gujarat Power Limited - India
- Ministry of Transport, Egypt
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- Parliament of New Zealand
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- Coalindo Energy - Indonesia
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- Cement Manufacturers Association - India
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- Price Waterhouse Coopers - Russia
- Vizag Seaport Private Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
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- Krishnapatnam Port Company Ltd. - India
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- Anglo American - United Kingdom
- Binh Thuan Hamico - Vietnam
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- Planning Commission, India
- Directorate General of MIneral and Coal - Indonesia
- The University of Queensland
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- Economic Council, Georgia
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- Siam City Cement PLC, Thailand
- Semirara Mining and Power Corporation, Philippines
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- Vedanta Resources Plc - India
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- CNBM International Corporation - China
- Global Coal Blending Company Limited - Australia
- Billiton Holdings Pty Ltd - Australia
- Bangladesh Power Developement Board
- Petrochimia International Co. Ltd.- Taiwan
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- Tamil Nadu electricity Board
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- Coal and Oil Company - UAE
- Meralco Power Generation, Philippines
- Marubeni Corporation - India
- Attock Cement Pakistan Limited
- Semirara Mining Corp, Philippines
- Kideco Jaya Agung - Indonesia
- Indonesian Coal Mining Association
- Australian Coal Association
- LBH Netherlands Bv - Netherlands
- Petron Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Minerals Council of Australia
- Heidelberg Cement - Germany
- Savvy Resources Ltd - HongKong
- Antam Resourcindo - Indonesia
- ICICI Bank Limited - India
- Electricity Authority, New Zealand
- European Bulk Services B.V. - Netherlands
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