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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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- Georgia Ports Authority, United States
- Indian Energy Exchange, India
- Goldman Sachs - Singapore
- Bukit Makmur.PT - Indonesia
- Barasentosa Lestari - Indonesia
- India Bulls Power Limited - India
- Commonwealth Bank - Australia
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- Ministry of Finance - Indonesia
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- Carbofer General Trading SA - India
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- Electricity Authority, New Zealand
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- Tata Chemicals Ltd - India
- Merrill Lynch Commodities Europe
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- Simpson Spence & Young - Indonesia
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- McConnell Dowell - Australia
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- Port Waratah Coal Services - Australia
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- Essar Steel Hazira Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
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- Kohat Cement Company Ltd. - Pakistan
- Kepco SPC Power Corporation, Philippines
- Chamber of Mines of South Africa
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- Chettinad Cement Corporation Ltd - India
- Bhatia International Limited - India
- Energy Development Corp, Philippines
- Holcim Trading Pte Ltd - Singapore
- Tamil Nadu electricity Board
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- SN Aboitiz Power Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Standard Chartered Bank - UAE
- Thiess Contractors Indonesia
- Indo Tambangraya Megah - Indonesia
- Central Electricity Authority - India
- Altura Mining Limited, Indonesia
- ASAPP Information Group - India
- Sree Jayajothi Cements Limited - India
- Bhoruka Overseas - Indonesia
- Directorate Of Revenue Intelligence - India
- Sarangani Energy Corporation, Philippines
- Mercator Lines Limited - India
- Aditya Birla Group - India
- TNB Fuel Sdn Bhd - Malaysia
- MS Steel International - UAE
- GMR Energy Limited - India
- Savvy Resources Ltd - HongKong
- Binh Thuan Hamico - Vietnam
- Global Green Power PLC Corporation, Philippines
- Bharathi Cement Corporation - India
- Price Waterhouse Coopers - Russia
- San Jose City I Power Corp, Philippines
- Vedanta Resources Plc - India
- Mercuria Energy - Indonesia
- Baramulti Group, Indonesia
- PTC India Limited - India
- Electricity Generating Authority of Thailand
- Romanian Commodities Exchange
- Riau Bara Harum - Indonesia
- Timah Investasi Mineral - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- Economic Council, Georgia
- Indika Energy - Indonesia
- SMG Consultants - Indonesia
- Indogreen Group - Indonesia
- Formosa Plastics Group - Taiwan
- Agrawal Coal Company - India
- SMC Global Power, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Kideco Jaya Agung - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Leighton Contractors Pty Ltd - Australia
- Africa Commodities Group - South Africa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Posco Energy - South Korea
- ICICI Bank Limited - India
- Alfred C Toepfer International GmbH - Germany
- Karaikal Port Pvt Ltd - India
- Attock Cement Pakistan Limited
- Semirara Mining and Power Corporation, Philippines
- Indian Oil Corporation Limited
- Cement Manufacturers Association - India
- Ministry of Mines - Canada
- Dalmia Cement Bharat India
- South Luzon Thermal Energy Corporation
- Globalindo Alam Lestari - Indonesia
- Independent Power Producers Association of India
- Karbindo Abesyapradhi - Indoneisa
- Coalindo Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Mintek Dendrill Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Global Coal Blending Company Limited - Australia
- Trasteel International SA, Italy
- Straits Asia Resources Limited - Singapore
- Energy Link Ltd, New Zealand
- Samtan Co., Ltd - South Korea
- Marubeni Corporation - India
- Minerals Council of Australia
- Orica Mining Services - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Parliament of New Zealand
- Borneo Indobara - Indonesia
- Rio Tinto Coal - Australia
- Interocean Group of Companies - India
- Mjunction Services Limited - India
- Maheswari Brothers Coal Limited - India
- Vizag Seaport Private Limited - India
- Deloitte Consulting - India
- Banpu Public Company Limited - Thailand
- Salva Resources Pvt Ltd - India
- Grasim Industreis Ltd - India
- Australian Coal Association
- Bangladesh Power Developement Board
- Kapuas Tunggal Persada - Indonesia
- GVK Power & Infra Limited - India
- Semirara Mining Corp, Philippines
- Oldendorff Carriers - Singapore
- Lanco Infratech Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Eastern Coal Council - USA
- Jaiprakash Power Ventures ltd
- Kumho Petrochemical, South Korea
- Uttam Galva Steels Limited - India
- Planning Commission, India
- IHS Mccloskey Coal Group - USA
- PetroVietnam Power Coal Import and Supply Company
- Global Business Power Corporation, Philippines
- Coal and Oil Company - UAE
- Kobexindo Tractors - Indoneisa
- Bulk Trading Sa - Switzerland
- Madhucon Powers Ltd - India
- Latin American Coal - Colombia
- Eastern Energy - Thailand
- Pendopo Energi Batubara - Indonesia
- Petron Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Ministry of Transport, Egypt
- Toyota Tsusho Corporation, Japan
- GAC Shipping (India) Pvt Ltd
- White Energy Company Limited
- Australian Commodity Traders Exchange
- Wood Mackenzie - Singapore
- IEA Clean Coal Centre - UK
- European Bulk Services B.V. - Netherlands
- Thai Mozambique Logistica
- Sinarmas Energy and Mining - Indonesia
- Power Finance Corporation Ltd., India
- AsiaOL BioFuels Corp., Philippines
- LBH Netherlands Bv - Netherlands
- Bayan Resources Tbk. - Indonesia
- Videocon Industries ltd - India
- Renaissance Capital - South Africa
- London Commodity Brokers - England
- CIMB Investment Bank - Malaysia
- Star Paper Mills Limited - India
- Indonesian Coal Mining Association
- Edison Trading Spa - Italy
- Metalloyd Limited - United Kingdom
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