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Monday, 07 November 16
INDONESIAN COAL PRICE REFERENCE ROSE 59.57 PER CENT YEAR TO MONTH
COALspot.com: The Indonesia coal benchmark price hits to its highest level since May 2013. The government declared benchmark prices for Indonesian thermal coal rose for six months in a row.
The Director General of Mineral and Coal of Indonesia, the regulator of Coal industry in Indonesia who has an authority to declare the monthly benchmark price for Indonesian thermal coal, had declared November 2016 HBA at US$ 84.89 per ton for 6322 GAR power plant coal.
DGoMC has increased the monthly Indonesian thermal coal price reference for November delivery by 22.90% a ton. This increase is the highest average monthly price gain since January 2009.
In the meantime, the November 2016 HBA was 55.96% higher the comparable period in 2015.
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The Indonesian coal price reference of November 2016 raised US$ 15.82 a ton from October 2016. An increase or decrease in four international coal indices such as ICI-1, Platts-5900, NEX and GC will cause an increase or decrease in Indonesian coal price reference every month, as HBA is linked to those indices.
The coal price reference in Indonesia was established to fulfill the requirement of mining law 04/2009 and ministerial decree No.17/2010. In addition to that, it aims to increase government revenue from royalties from coal producers.
According to the data from Director General shows that the government has fixed US$ 20.98 a ton (up 59.54% Year to Date and 22.91% month on month) for the coal with calorific value 2,995 kcal/kg on GAR with total moisture 50.10% on as received basis for November 2016 FOB vessel delivery. In the meantime, the government is also declared US$ 60.11 per ton as HPB for 5000 GAR coal with total moisture 22.40%, Ash 8.90% and Sulphur 0.54% for November 2016 deliveries.
The declared Indonesia thermal coal reference price (or called HBA) for February 2016 was the lowest in 95 months or since launching of HBA by the government of Indonesia. The royalty and taxes will be calculated based on this declared HPB.
Indonesian coal benchmark price for November 2016 was calculated based on calorific value of 6,322 kcal/kg (GAR), stated to be using a formula based on the October 2016 index average of ICI-1 (Indonesia Coal Index) 25%, Platts-5900 25%, NEX (Newcastle Export Index) 25%, and GC (globalCoal Index) 25% and its 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 apply to spot contract, delivery between 1 – 30 November 2016.
The highest benchmark price was declared by the Ministry of Energy & Mineral Resources of Indonesia in February 2011, and this month declared price is around US$ 42.16 a ton or 33.18 per cent lower compared to Feb’ 11 benchmark price.
The government of Indonesia was publishing a monthly coal price reference (HBA & HPB) since January 2009 to be used by coal producers for all spot and term contracts.
However, the official implementation of HBA was commenced since September 2011 and according to government regulation, the coal benchmark price must be used by the holders of production operation IUPs, special production operation IUP's, and CCoWs as a reference in determining the coal selling price for a particular period.
HBA of February 2011 was the highest since the launching of HBA by the government of Indonesia (US$ 127.05 / MT for 6322 GAR coal) and the lowest was declared in February 2016 (US$ 50.92 / MT).
The declared HBA in this month is valid for the spot price (loading on or before 30 November 2016), while as for term price (up to 12 months supply), the average reference price (HPB) of the previous three months will be used to determine the selling price. (50% of the latest available month's HPB (this month) 30% one month prior HPB and 20% of two-month prior HPB).
The government is also declaring the price marker for eight brands of Indonesia's coal, which are most commonly traded in the market. Those eight brands act as the benchmark and used to calculate other 67 coal types with a quality similar to the coal price markers.
Indonesian coal prices are starting to zoom higher and moving towards North. Continuation of China ’s production cuts caused more imports into China which supported the global coal price. The market players are forecasting, the coal prices will likely surge further as the recent price movement suggesting that the market has overcome the bearish trend which disturbed the industry for a very long period.
The coal market was oversupplied due to high production and sluggish demand for coal consuming countries in the past few years. Even thou the oversupply issue was still not vanished away completely, the current levels of coal output are still huge, but the recent changes in coal producing countries except India are definitely indicating a tightening on output. The tight market is expected to drive the coal prices further up in the coming weeks/ months unless the China reduces its control on tight production policy and change its buying pattern.
Indonesia has reduced coal output by 30% year on year in the first six months of 2016 and the country’s exports for the same period declined 32% while domestic consumption increased 8%. India is still on its track to achieve a billion tons of coal output by 2019 / 2020 and no sign of coal output cut is seen.
Click here for full details of Indonesian coal price reference since January 2009.(cs)
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Friday, 23 September 16
EIA SEES U.S. COAL WEEKLY OUTPUT INCREASE
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Thursday, 22 September 16
CHINA IS THE PRICE-SETTING COUNTRY FOR GLOBAL THERMAL COAL
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Thursday, 22 September 16
SUPRAMAXES ARE ACHIEVING AROUND $7000 FOR A TRIP WITH SINGAPORE DELIVERY VIA INDONESIA TO CHINA
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Wednesday, 21 September 16
THE CAPESIZE MARKET HAS BEEN ON A RALLYING TREND SINCE THE END OF AUGUST - GEORGE LAZARIDIS
The Capesize market has been on a rallying trend since the end of August, fuelled mainly by the chase by traders to pre-stock before the typical pi ...
Wednesday, 21 September 16
SHIPPING MARKET INSIGHT - PANOS MAKRINOS
Amidst a challenging dry bulk and tanker market, very little time has been spent on the offshore industry developments during the past couple of ye ...
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- Riau Bara Harum - Indonesia
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- Parliament of New Zealand
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- London Commodity Brokers - England
- Electricity Generating Authority of Thailand
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- Sinarmas Energy and Mining - Indonesia
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- Economic Council, Georgia
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- Metalloyd Limited - United Kingdom
- Ind-Barath Power Infra Limited - India
- Minerals Council of Australia
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- Eastern Energy - Thailand
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- Australian Coal Association
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- The State Trading Corporation of India Ltd
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- Global Coal Blending Company Limited - Australia
- Energy Development Corp, Philippines
- Toyota Tsusho Corporation, Japan
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- Offshore Bulk Terminal Pte Ltd, Singapore
- CNBM International Corporation - China
- Alfred C Toepfer International GmbH - Germany
- Commonwealth Bank - Australia
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- Aditya Birla Group - India
- Bulk Trading Sa - Switzerland
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Chamber of Mines of South Africa
- Agrawal Coal Company - India
- Petron Corporation, Philippines
- White Energy Company Limited
- Posco Energy - South Korea
- Formosa Plastics Group - Taiwan
- Aboitiz Power Corporation - Philippines
- MS Steel International - UAE
- Edison Trading Spa - Italy
- Tamil Nadu electricity Board
- Thiess Contractors Indonesia
- Siam City Cement - Thailand
- Grasim Industreis Ltd - India
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- Bukit Baiduri Energy - Indonesia
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- Meralco Power Generation, Philippines
- Jaiprakash Power Ventures ltd
- Ministry of Mines - Canada
- Indogreen Group - Indonesia
- Sical Logistics Limited - India
- Leighton Contractors Pty Ltd - Australia
- Bhoruka Overseas - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
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- Bhatia International Limited - India
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- Makarim & Taira - Indonesia
- Ambuja Cements Ltd - India
- Eastern Coal Council - USA
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- Power Finance Corporation Ltd., India
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- Bahari Cakrawala Sebuku - Indonesia
- Singapore Mercantile Exchange
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- Central Electricity Authority - India
- Indonesian Coal Mining Association
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- PNOC Exploration Corporation - Philippines
- Pendopo Energi Batubara - Indonesia
- Kartika Selabumi Mining - Indonesia
- Sojitz Corporation - Japan
- Coalindo Energy - Indonesia
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- Indian Energy Exchange, India
- Samtan Co., Ltd - South Korea
- Rashtriya Ispat Nigam Limited - India
- PowerSource Philippines DevCo
- Kideco Jaya Agung - Indonesia
- Banpu Public Company Limited - Thailand
- Kohat Cement Company Ltd. - Pakistan
- Karbindo Abesyapradhi - Indoneisa
- Lanco Infratech Ltd - India
- Ministry of Transport, Egypt
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- Videocon Industries ltd - India
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- SMG Consultants - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
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- Directorate General of MIneral and Coal - Indonesia
- Borneo Indobara - Indonesia
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- Romanian Commodities Exchange
- Global Green Power PLC Corporation, Philippines
- The University of Queensland
- Vedanta Resources Plc - India
- Madhucon Powers Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Energy Link Ltd, New Zealand
- Straits Asia Resources Limited - Singapore
- IEA Clean Coal Centre - UK
- Barasentosa Lestari - Indonesia
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