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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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Thursday, 07 February 13
CHINA NDRC APPROVED 10 BILLION YUAN POWER GENERATION PROJECTS
NDRC of China currently announced that some of power grid and power station in Jiangxu, Sichuan and Anhui Province would be newly constructed or ext ...
Thursday, 07 February 13
CAPESIZE : MORE ACTIVE WEEK IN THE PACIFIC - FEARNLEYS AS
Handy
The Atlantic market remained stable with no significant movement in rates. Rates from USG to FEast were around USD 18k and Black Sea to Feast ...
Thursday, 07 February 13
WEAK STEEL MARKET MEANS IRON ORE RALLY LIKELY TO END SOON - FITCH
The sharp rebound in iron ore prices over the last couple of months will hurt margins at non-integrated steel producers in the first quarter of 2013 ...
Tuesday, 05 February 13
THE SHIPPING SECTOR IS " NAVIGATING IN STORMY WATERS" - PWC
The vulnerabilities of the global economy have been exposed and have more than played their part in making 2011 one of the worst years of shipping i ...
Tuesday, 05 February 13
NEWCASTLE PORT COAL SHIPMENTS DROPPED BY 10.77 PERCENT W-O-W
COALspot.com - Newcastle port in Australia has loaded 2,412,497 MT of thermal and coking coal for week ended 0700 hours 4 February 2013, Newca ...
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- Parry Sugars Refinery, India
- Sarangani Energy Corporation, Philippines
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- Bhoruka Overseas - Indonesia
- Straits Asia Resources Limited - Singapore
- Singapore Mercantile Exchange
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Coal and Oil Company - UAE
- Price Waterhouse Coopers - Russia
- Bulk Trading Sa - Switzerland
- Marubeni Corporation - India
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- Kideco Jaya Agung - Indonesia
- Riau Bara Harum - Indonesia
- Africa Commodities Group - South Africa
- Tamil Nadu electricity Board
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- Australian Coal Association
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- Filglen & Citicon Mining (HK) Ltd - Hong Kong
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- Petron Corporation, Philippines
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- VISA Power Limited - India
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- Merrill Lynch Commodities Europe
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- The State Trading Corporation of India Ltd
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- Kalimantan Lumbung Energi - Indonesia
- Heidelberg Cement - Germany
- Coalindo Energy - Indonesia
- Videocon Industries ltd - India
- Eastern Coal Council - USA
- Ambuja Cements Ltd - India
- Indika Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Salva Resources Pvt Ltd - India
- The University of Queensland
- Parliament of New Zealand
- Ministry of Mines - Canada
- Indian Oil Corporation Limited
- Billiton Holdings Pty Ltd - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sinarmas Energy and Mining - Indonesia
- Commonwealth Bank - Australia
- India Bulls Power Limited - India
- OPG Power Generation Pvt Ltd - India
- Indogreen Group - Indonesia
- Lanco Infratech Ltd - India
- GVK Power & Infra Limited - India
- Posco Energy - South Korea
- Formosa Plastics Group - Taiwan
- South Luzon Thermal Energy Corporation
- Vedanta Resources Plc - India
- Mercuria Energy - Indonesia
- Goldman Sachs - Singapore
- Deloitte Consulting - India
- Standard Chartered Bank - UAE
- Kobexindo Tractors - Indoneisa
- Maheswari Brothers Coal Limited - India
- Madhucon Powers Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Chamber of Mines of South Africa
- Kepco SPC Power Corporation, Philippines
- Oldendorff Carriers - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Bank of Tokyo Mitsubishi UFJ Ltd
- White Energy Company Limited
- Ministry of Transport, Egypt
- Gujarat Mineral Development Corp Ltd - India
- GAC Shipping (India) Pvt Ltd
- Central Java Power - Indonesia
- PTC India Limited - India
- Ind-Barath Power Infra Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Kumho Petrochemical, South Korea
- AsiaOL BioFuels Corp., Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Iligan Light & Power Inc, Philippines
- Orica Mining Services - Indonesia
- Orica Australia Pty. Ltd.
- Ministry of Finance - Indonesia
- Bangladesh Power Developement Board
- Globalindo Alam Lestari - Indonesia
- Aditya Birla Group - India
- Bukit Baiduri Energy - Indonesia
- Eastern Energy - Thailand
- Anglo American - United Kingdom
- Manunggal Multi Energi - Indonesia
- Jindal Steel & Power Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Kapuas Tunggal Persada - Indonesia
- Mintek Dendrill Indonesia
- Indo Tambangraya Megah - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- MS Steel International - UAE
- Bharathi Cement Corporation - India
- San Jose City I Power Corp, Philippines
- Indian Energy Exchange, India
- Electricity Generating Authority of Thailand
- Baramulti Group, Indonesia
- Samtan Co., Ltd - South Korea
- Tata Chemicals Ltd - India
- Bayan Resources Tbk. - Indonesia
- Timah Investasi Mineral - Indoneisa
- SN Aboitiz Power Inc, Philippines
- Edison Trading Spa - Italy
- Energy Development Corp, Philippines
- IEA Clean Coal Centre - UK
- Jaiprakash Power Ventures ltd
- Makarim & Taira - Indonesia
- Economic Council, Georgia
- PNOC Exploration Corporation - Philippines
- Energy Link Ltd, New Zealand
- Medco Energi Mining Internasional
- London Commodity Brokers - England
- The Treasury - Australian Government
- Sojitz Corporation - Japan
- Kaltim Prima Coal - Indonesia
- Meralco Power Generation, Philippines
- Latin American Coal - Colombia
- Coastal Gujarat Power Limited - India
- Ceylon Electricity Board - Sri Lanka
- Trasteel International SA, Italy
- Cement Manufacturers Association - India
- Karaikal Port Pvt Ltd - India
- Wood Mackenzie - Singapore
- Savvy Resources Ltd - HongKong
- Rio Tinto Coal - Australia
- Gujarat Sidhee Cement - India
- Minerals Council of Australia
- Krishnapatnam Port Company Ltd. - India
- Sical Logistics Limited - India
- Toyota Tsusho Corporation, Japan
- LBH Netherlands Bv - Netherlands
- TeaM Sual Corporation - Philippines
- New Zealand Coal & Carbon
- Vijayanagar Sugar Pvt Ltd - India
- Larsen & Toubro Limited - India
- Bhushan Steel Limited - India
- Therma Luzon, Inc, Philippines
- European Bulk Services B.V. - Netherlands
- Holcim Trading Pte Ltd - Singapore
- Xindia Steels Limited - India
- Global Green Power PLC Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- GMR Energy Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Central Electricity Authority - India
- Wilmar Investment Holdings
- McConnell Dowell - Australia
- Karbindo Abesyapradhi - Indoneisa
- Dalmia Cement Bharat India
- Sree Jayajothi Cements Limited - India
- Star Paper Mills Limited - India
- Chettinad Cement Corporation Ltd - India
- Romanian Commodities Exchange
- Borneo Indobara - Indonesia
- Mercator Lines Limited - India
- Thiess Contractors Indonesia
- Georgia Ports Authority, United States
- Australian Commodity Traders Exchange
- Siam City Cement - Thailand
- PowerSource Philippines DevCo
- Alfred C Toepfer International GmbH - Germany
- Essar Steel Hazira Ltd - India
- CIMB Investment Bank - Malaysia
- Miang Besar Coal Terminal - Indonesia
- Metalloyd Limited - United Kingdom
- Pendopo Energi Batubara - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- SMC Global Power, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Independent Power Producers Association of India
- Attock Cement Pakistan Limited
- Siam City Cement PLC, Thailand
- Bukit Makmur.PT - Indonesia
- Sakthi Sugars Limited - India
- IHS Mccloskey Coal Group - USA
- Renaissance Capital - South Africa
- Binh Thuan Hamico - Vietnam
- Maharashtra Electricity Regulatory Commission - India
- Thai Mozambique Logistica
- Malabar Cements Ltd - India
- Sindya Power Generating Company Private Ltd
- SMG Consultants - Indonesia
- Semirara Mining Corp, Philippines
- Vizag Seaport Private Limited - India
- Indonesian Coal Mining Association
- Kartika Selabumi Mining - Indonesia
- Carbofer General Trading SA - India
- Mjunction Services Limited - India
- Planning Commission, India
- Port Waratah Coal Services - Australia
- Global Business Power Corporation, Philippines
- ASAPP Information Group - India
- Electricity Authority, New Zealand
- Meenaskhi Energy Private Limited - India
- Barasentosa Lestari - Indonesia
- Global Coal Blending Company Limited - Australia
- Antam Resourcindo - Indonesia
- Interocean Group of Companies - India
- ICICI Bank Limited - India
- Neyveli Lignite Corporation Ltd, - India
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