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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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Tuesday, 05 February 13
CHALLENGER DEEP RESOURCES CORP HAS ENTERED INTO AN EXCLUSIVE MINING AND MARKETING AGREEMENT WITH KEM
COALspot.com - Challenger Deep Resources Corp., through its wholly owned subsidiary, PT Bestindo Energy, has entered into an Exclusivity Agreement r ...
Saturday, 02 February 13
ADARO TO INTRODUCE A NEW BRAND OF ENVIROCOAL, E4700, IN 2013
COALspot.com - Adaro Energy, an Indonesian and leading coal producer in country has achieved a record coal production during 4Q12 of 13.31 mil ...
Saturday, 02 February 13
FREIGHT MARKET MAY REBOUND AFTER CHINESE NEW YEAR - VISTAAR
COALspot.com - The freight market was soft and all the indices were down by around 5-7 pct this week.
The BDI was down 6.01 pct closing at 750 po ...
Friday, 01 February 13
ORPHEUS SELLS B26 COAL PROJECTS FOR US$ 2 MILLION TO FOCUS ON SOUTH KALIMANTAN
COALspot.com - Orpheus Energy Limited (ASX: OEG) has announced that it has sold its 51 percent equity stake in the East Kalimantan coal projects, Bl ...
Friday, 01 February 13
HANDY - FLAT; PANAMAX - FLAT TO WEAK; CAPESIZE - WEAK
Handy
The Atlantic market remained stable with no significant movement in rates. Rates from USG to FEast were around USD 17k and Black sea to Feast ...
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- Agrawal Coal Company - India
- Minerals Council of Australia
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- CNBM International Corporation - China
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- Indian Energy Exchange, India
- IEA Clean Coal Centre - UK
- OPG Power Generation Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Iligan Light & Power Inc, Philippines
- Star Paper Mills Limited - India
- Latin American Coal - Colombia
- Salva Resources Pvt Ltd - India
- Marubeni Corporation - India
- Bukit Asam (Persero) Tbk - Indonesia
- Kobexindo Tractors - Indoneisa
- Cigading International Bulk Terminal - Indonesia
- Kideco Jaya Agung - Indonesia
- Planning Commission, India
- Energy Development Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Electricity Generating Authority of Thailand
- ASAPP Information Group - India
- Karbindo Abesyapradhi - Indoneisa
- Bhushan Steel Limited - India
- Central Java Power - Indonesia
- Borneo Indobara - Indonesia
- Chettinad Cement Corporation Ltd - India
- Ministry of Finance - Indonesia
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- Semirara Mining and Power Corporation, Philippines
- Heidelberg Cement - Germany
- Timah Investasi Mineral - Indoneisa
- Commonwealth Bank - Australia
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- Global Coal Blending Company Limited - Australia
- Global Business Power Corporation, Philippines
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- Straits Asia Resources Limited - Singapore
- Makarim & Taira - Indonesia
- Ministry of Transport, Egypt
- Indogreen Group - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Parry Sugars Refinery, India
- Bangladesh Power Developement Board
- Sree Jayajothi Cements Limited - India
- Coastal Gujarat Power Limited - India
- Eastern Coal Council - USA
- Australian Commodity Traders Exchange
- Trasteel International SA, Italy
- Formosa Plastics Group - Taiwan
- Bayan Resources Tbk. - Indonesia
- Renaissance Capital - South Africa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Samtan Co., Ltd - South Korea
- Price Waterhouse Coopers - Russia
- Kartika Selabumi Mining - Indonesia
- McConnell Dowell - Australia
- Medco Energi Mining Internasional
- Leighton Contractors Pty Ltd - Australia
- Sarangani Energy Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Jorong Barutama Greston.PT - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Globalindo Alam Lestari - Indonesia
- IHS Mccloskey Coal Group - USA
- Georgia Ports Authority, United States
- Standard Chartered Bank - UAE
- Savvy Resources Ltd - HongKong
- LBH Netherlands Bv - Netherlands
- Metalloyd Limited - United Kingdom
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ambuja Cements Ltd - India
- Ind-Barath Power Infra Limited - India
- Economic Council, Georgia
- Petrochimia International Co. Ltd.- Taiwan
- Kalimantan Lumbung Energi - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GAC Shipping (India) Pvt Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The University of Queensland
- GMR Energy Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- London Commodity Brokers - England
- Kohat Cement Company Ltd. - Pakistan
- Attock Cement Pakistan Limited
- PowerSource Philippines DevCo
- Videocon Industries ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Central Electricity Authority - India
- Meenaskhi Energy Private Limited - India
- Rashtriya Ispat Nigam Limited - India
- Toyota Tsusho Corporation, Japan
- Oldendorff Carriers - Singapore
- Riau Bara Harum - Indonesia
- Wood Mackenzie - Singapore
- Mintek Dendrill Indonesia
- Indika Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Madhucon Powers Ltd - India
- Deloitte Consulting - India
- GVK Power & Infra Limited - India
- Anglo American - United Kingdom
- Merrill Lynch Commodities Europe
- MS Steel International - UAE
- The Treasury - Australian Government
- Thai Mozambique Logistica
- Antam Resourcindo - Indonesia
- European Bulk Services B.V. - Netherlands
- Pendopo Energi Batubara - Indonesia
- Grasim Industreis Ltd - India
- White Energy Company Limited
- Orica Mining Services - Indonesia
- Uttam Galva Steels Limited - India
- VISA Power Limited - India
- Bukit Makmur.PT - Indonesia
- Jaiprakash Power Ventures ltd
- Goldman Sachs - Singapore
- Gujarat Sidhee Cement - India
- Siam City Cement PLC, Thailand
- Coal and Oil Company - UAE
- Asmin Koalindo Tuhup - Indonesia
- South Luzon Thermal Energy Corporation
- Orica Australia Pty. Ltd.
- Mercuria Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Meralco Power Generation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Banpu Public Company Limited - Thailand
- Rio Tinto Coal - Australia
- Singapore Mercantile Exchange
- Indo Tambangraya Megah - Indonesia
- Sical Logistics Limited - India
- Edison Trading Spa - Italy
- Eastern Energy - Thailand
- Aboitiz Power Corporation - Philippines
- Wilmar Investment Holdings
- Posco Energy - South Korea
- Miang Besar Coal Terminal - Indonesia
- Tamil Nadu electricity Board
- International Coal Ventures Pvt Ltd - India
- Tata Chemicals Ltd - India
- Directorate Of Revenue Intelligence - India
- Indian Oil Corporation Limited
- Karaikal Port Pvt Ltd - India
- Cement Manufacturers Association - India
- Parliament of New Zealand
- Vizag Seaport Private Limited - India
- Lanco Infratech Ltd - India
- Bharathi Cement Corporation - India
- Port Waratah Coal Services - Australia
- Therma Luzon, Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Ceylon Electricity Board - Sri Lanka
- Energy Link Ltd, New Zealand
- Carbofer General Trading SA - India
- Australian Coal Association
- Coalindo Energy - Indonesia
- SMC Global Power, Philippines
- Bukit Baiduri Energy - Indonesia
- Thiess Contractors Indonesia
- Binh Thuan Hamico - Vietnam
- Bank of Tokyo Mitsubishi UFJ Ltd
- Interocean Group of Companies - India
- GN Power Mariveles Coal Plant, Philippines
- Bhatia International Limited - India
- Bulk Trading Sa - Switzerland
- Sindya Power Generating Company Private Ltd
- SN Aboitiz Power Inc, Philippines
- PNOC Exploration Corporation - Philippines
- Sojitz Corporation - Japan
- Vedanta Resources Plc - India
- Manunggal Multi Energi - Indonesia
- India Bulls Power Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Kepco SPC Power Corporation, Philippines
- Baramulti Group, Indonesia
- New Zealand Coal & Carbon
- Mercator Lines Limited - India
- Africa Commodities Group - South Africa
- Petron Corporation, Philippines
- Chamber of Mines of South Africa
- Mjunction Services Limited - India
- Intertek Mineral Services - Indonesia
- Bhoruka Overseas - Indonesia
- Romanian Commodities Exchange
- Global Green Power PLC Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Kaltim Prima Coal - Indonesia
- Power Finance Corporation Ltd., India
- Independent Power Producers Association of India
- Dalmia Cement Bharat India
- Holcim Trading Pte Ltd - Singapore
- Billiton Holdings Pty Ltd - Australia
- Semirara Mining Corp, Philippines
- Kumho Petrochemical, South Korea
- SMG Consultants - Indonesia
- Indonesian Coal Mining Association
- The State Trading Corporation of India Ltd
- Ministry of Mines - Canada
- Asia Pacific Energy Resources Ventures Inc, Philippines
- ICICI Bank Limited - India
- Maheswari Brothers Coal Limited - India
- Malabar Cements Ltd - India
- Electricity Authority, New Zealand
- Simpson Spence & Young - Indonesia
- Jindal Steel & Power Ltd - India
- CIMB Investment Bank - Malaysia
- PTC India Limited - India
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