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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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- Coastal Gujarat Power Limited - India
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- Trasteel International SA, Italy
- GVK Power & Infra Limited - India
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- Antam Resourcindo - Indonesia
- Sree Jayajothi Cements Limited - India
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- Baramulti Group, Indonesia
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- Attock Cement Pakistan Limited
- Interocean Group of Companies - India
- Kideco Jaya Agung - Indonesia
- Bhatia International Limited - India
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- McConnell Dowell - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
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- GAC Shipping (India) Pvt Ltd
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- New Zealand Coal & Carbon
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- Posco Energy - South Korea
- Maharashtra Electricity Regulatory Commission - India
- Georgia Ports Authority, United States
- Bhoruka Overseas - Indonesia
- Kartika Selabumi Mining - Indonesia
- Jaiprakash Power Ventures ltd
- Sical Logistics Limited - India
- Directorate General of MIneral and Coal - Indonesia
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- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PNOC Exploration Corporation - Philippines
- Marubeni Corporation - India
- Power Finance Corporation Ltd., India
- Ministry of Transport, Egypt
- Gujarat Mineral Development Corp Ltd - India
- Bulk Trading Sa - Switzerland
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- Kobexindo Tractors - Indoneisa
- The Treasury - Australian Government
- Sojitz Corporation - Japan
- Intertek Mineral Services - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Thai Mozambique Logistica
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- CNBM International Corporation - China
- Meralco Power Generation, Philippines
- Gujarat Sidhee Cement - India
- Karbindo Abesyapradhi - Indoneisa
- Directorate Of Revenue Intelligence - India
- San Jose City I Power Corp, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- SMC Global Power, Philippines
- Heidelberg Cement - Germany
- SMG Consultants - Indonesia
- Sarangani Energy Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- ICICI Bank Limited - India
- Planning Commission, India
- PetroVietnam Power Coal Import and Supply Company
- European Bulk Services B.V. - Netherlands
- Larsen & Toubro Limited - India
- Star Paper Mills Limited - India
- Africa Commodities Group - South Africa
- Alfred C Toepfer International GmbH - Germany
- Vedanta Resources Plc - India
- Madhucon Powers Ltd - India
- Parry Sugars Refinery, India
- Global Business Power Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- White Energy Company Limited
- Indonesian Coal Mining Association
- Bangladesh Power Developement Board
- Ministry of Mines - Canada
- Singapore Mercantile Exchange
- Bharathi Cement Corporation - India
- Standard Chartered Bank - UAE
- Dalmia Cement Bharat India
- SN Aboitiz Power Inc, Philippines
- Altura Mining Limited, Indonesia
- Mercuria Energy - Indonesia
- Uttam Galva Steels Limited - India
- Kaltim Prima Coal - Indonesia
- Latin American Coal - Colombia
- Indo Tambangraya Megah - Indonesia
- Price Waterhouse Coopers - Russia
- PowerSource Philippines DevCo
- Coal and Oil Company - UAE
- Central Electricity Authority - India
- Kumho Petrochemical, South Korea
- Samtan Co., Ltd - South Korea
- PTC India Limited - India
- MS Steel International - UAE
- Ambuja Cements Ltd - India
- Eastern Coal Council - USA
- Commonwealth Bank - Australia
- Australian Coal Association
- Minerals Council of Australia
- Energy Link Ltd, New Zealand
- Medco Energi Mining Internasional
- Global Green Power PLC Corporation, Philippines
- Indian Energy Exchange, India
- IHS Mccloskey Coal Group - USA
- Malabar Cements Ltd - India
- Riau Bara Harum - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Savvy Resources Ltd - HongKong
- CIMB Investment Bank - Malaysia
- Coalindo Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Mintek Dendrill Indonesia
- London Commodity Brokers - England
- Salva Resources Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Chamber of Mines of South Africa
- Videocon Industries ltd - India
- TeaM Sual Corporation - Philippines
- Billiton Holdings Pty Ltd - Australia
- Sakthi Sugars Limited - India
- Port Waratah Coal Services - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Ministry of Finance - Indonesia
- Cement Manufacturers Association - India
- GMR Energy Limited - India
- Petron Corporation, Philippines
- Carbofer General Trading SA - India
- Bayan Resources Tbk. - Indonesia
- Manunggal Multi Energi - Indonesia
- ASAPP Information Group - India
- Essar Steel Hazira Ltd - India
- Eastern Energy - Thailand
- Central Java Power - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Electricity Generating Authority of Thailand
- Kepco SPC Power Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Holcim Trading Pte Ltd - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Energy Development Corp, Philippines
- South Luzon Thermal Energy Corporation
- India Bulls Power Limited - India
- Krishnapatnam Port Company Ltd. - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Jorong Barutama Greston.PT - Indonesia
- Australian Commodity Traders Exchange
- Electricity Authority, New Zealand
- Chettinad Cement Corporation Ltd - India
- Iligan Light & Power Inc, Philippines
- Therma Luzon, Inc, Philippines
- Formosa Plastics Group - Taiwan
- Tata Chemicals Ltd - India
- Mjunction Services Limited - India
- Wood Mackenzie - Singapore
- Simpson Spence & Young - Indonesia
- Mercator Lines Limited - India
- Siam City Cement - Thailand
- Orica Mining Services - Indonesia
- LBH Netherlands Bv - Netherlands
- Romanian Commodities Exchange
- The University of Queensland
- Merrill Lynch Commodities Europe
- Pipit Mutiara Jaya. PT, Indonesia
- Economic Council, Georgia
- Gujarat Electricity Regulatory Commission - India
- Parliament of New Zealand
- Miang Besar Coal Terminal - Indonesia
- Metalloyd Limited - United Kingdom
- IEA Clean Coal Centre - UK
- Thiess Contractors Indonesia
- Indogreen Group - Indonesia
- Aboitiz Power Corporation - Philippines
- Toyota Tsusho Corporation, Japan
- Deloitte Consulting - India
- Oldendorff Carriers - Singapore
- Barasentosa Lestari - Indonesia
- Global Coal Blending Company Limited - Australia
- Borneo Indobara - Indonesia
- Siam City Cement PLC, Thailand
- Bhushan Steel Limited - India
- Globalindo Alam Lestari - Indonesia
- Agrawal Coal Company - India
- Timah Investasi Mineral - Indoneisa
- Goldman Sachs - Singapore
- Orica Australia Pty. Ltd.
- Edison Trading Spa - Italy
- Indian Oil Corporation Limited
- Rio Tinto Coal - Australia
- Renaissance Capital - South Africa
- Indika Energy - Indonesia
- Banpu Public Company Limited - Thailand
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