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Thursday, 09 March 17
INDONESIAN COAL BENCHMARK PRICE DROPPED FOR A THIRD STRAIGHT MONTH IN MARCH, GOVERNMENT DATA SHOWED
COALspot.com: Indonesian government declared coal benchmark price dropped for a fourth straight month in March, government data showed. The HBA of Indonesian thermal coal has declined 1.70 percent and it sank to $81.90 per ton for March 2017 delivery, its lowest level in nearly 5 months.
The highest monthly average HBA decreased occurred in February 2017 since the establishment of HBA or since February 2009. Interestingly, the highest monthly average HBA increase occurred in December 2016.
The Director General of Mineral and Coal of Indonesia, the coal regulator of Indonesia who has an authority to declare the monthly benchmark price for Indonesian thermal coal, had declared March 2017 HBA at US$ 81.90 per ton for 6322 GAR power plant coal.
DGoMC has decreased the monthly Indonesian thermal coal price reference for March delivery by 1.70% a ton.
In the meantime, the March 2017 HBA was 58.66% higher the comparable period in 2016.
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The Indonesian coal price reference of March 2017 declines US$ 1.42 a ton from February 2017. 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$ 20.24 a ton (up 58.62% Y/Y and down 1.70% 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 March 2017 FOB vessel delivery. In the meantime, the government is also declared US$ 58.12 per ton as HPB for 5000 GAR coal with total moisture 22.40%, Ash 8.90% and Sulphur 0.54% for March 2017 deliveries.
The declared Indonesia thermal coal reference price (or called HBA) for February 2016 was the lowest in 99 months or since launching of HBA by the government of Indonesia. The royalties and taxes will be calculated based on this declared HPB. Interestingly, the highest monthly average price occurred in February 2011, while the lowest coal price also occurred in February 2016.
Indonesian coal benchmark price for March 2017 was calculated based on calorific value of 6,322 kcal/kg (GAR), stated to be using a formula based on the January 2017 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 – 31 March 2017.
The highest benchmark price was declared by the Ministry of Energy & Mineral Resources of Indonesia in February 2011, and this month’s declared price is around US$ 45.15 a ton or 35.54 per cent lower compared to Feb’ 11 benchmark price. In the meantime, this month’s declared price was around US$ 30.98 a ton or 60.84 per cent higher compared to Feb’ 16 benchmark price, which was the lowest price ever declared by DGoMC.
The government of Indonesia was publishing a monthly coal price reference (HBA & HPB) since February 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).
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The declared HBA in this month is valid for the spot price (loading on or before 31 March 2017), 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 have started to move towards South since mid of November after rallying for around 6 months in 2016. China ’s production cuts relaxation caused lesser imports into China, which pushed down the global coal price from its recent rally. The market players are forecasting that the coal prices will likely stay flat or stable in this quarter.
The coal market was oversupplied due to high production and sluggish demand for coal consuming countries in the past few years. Once the real tight supply market established, we hope it will keep the coal prices at a stable level in the coming months/years. However, in fact, the change in China’s coal output directions will always play a major role to decide the direction of coal prices in the short term.
Indonesia today’s world’s largest coal exporter, is trying to push more coal to domestic market than export market. Once Indonesia’s 35000 MW power plant ambition comes into reality, then coal exports from Indonesia expected to be reduced drastically compared to current levels.
Click here for full details of Indonesian coal price reference since January 2009.(cs)
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Friday, 02 June 17
U.S THE PAST WEEK'S COAL PRODUCTION ESTIMATE UP 4.4% - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 15 million short tonnes ...
Wednesday, 31 May 17
MARKET INSIGHT - KONSTANTINOS KAKAVITSAS
In the next episode of the oil market; The market reacts to OPEC’s production cut extension, the US shale oil producers are ruining the carte ...
Tuesday, 30 May 17
MARKET ANALYSIS - GEORGE LAZARIDIS
Despite the fair performance that has been noted in the Chinese economy over the past 5 months, we have started to see an increase in the skepticis ...
Friday, 26 May 17
MOST COAL PLANTS IN THE UNITED STATES WERE BUILT BEFORE 1990 - EIA
Coal-fired electricity generators accounted for 25% of operating electricity generating capacity in the United States and generated about 30% of U. ...
Friday, 26 May 17
U.S WEEKLY COAL OUTPUT ESTIMATE UP 6.3% W/W
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 14.3 million short ton ...
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- Sindya Power Generating Company Private Ltd
- Kapuas Tunggal Persada - Indonesia
- Indika Energy - Indonesia
- SMG Consultants - Indonesia
- Coastal Gujarat Power Limited - India
- Parliament of New Zealand
- Essar Steel Hazira Ltd - India
- Global Business Power Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Singapore Mercantile Exchange
- Merrill Lynch Commodities Europe
- Neyveli Lignite Corporation Ltd, - India
- Madhucon Powers Ltd - India
- Heidelberg Cement - Germany
- Asmin Koalindo Tuhup - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Romanian Commodities Exchange
- Minerals Council of Australia
- Directorate General of MIneral and Coal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Meenaskhi Energy Private Limited - India
- Energy Development Corp, Philippines
- Goldman Sachs - Singapore
- Vedanta Resources Plc - India
- Sarangani Energy Corporation, Philippines
- Agrawal Coal Company - India
- Jaiprakash Power Ventures ltd
- Petrochimia International Co. Ltd.- Taiwan
- Carbofer General Trading SA - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Coal and Oil Company - UAE
- Trasteel International SA, Italy
- Bhatia International Limited - India
- Grasim Industreis Ltd - India
- Pendopo Energi Batubara - Indonesia
- Bhushan Steel Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Energy Link Ltd, New Zealand
- Samtan Co., Ltd - South Korea
- Power Finance Corporation Ltd., India
- PetroVietnam Power Coal Import and Supply Company
- Petron Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Central Electricity Authority - India
- Globalindo Alam Lestari - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sakthi Sugars Limited - India
- Mercator Lines Limited - India
- Ceylon Electricity Board - Sri Lanka
- Attock Cement Pakistan Limited
- Economic Council, Georgia
- Malabar Cements Ltd - India
- Manunggal Multi Energi - Indonesia
- CNBM International Corporation - China
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Aditya Birla Group - India
- Thiess Contractors Indonesia
- Wilmar Investment Holdings
- Kohat Cement Company Ltd. - Pakistan
- Chettinad Cement Corporation Ltd - India
- MS Steel International - UAE
- Binh Thuan Hamico - Vietnam
- Cigading International Bulk Terminal - Indonesia
- India Bulls Power Limited - India
- ICICI Bank Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Antam Resourcindo - Indonesia
- Bhoruka Overseas - Indonesia
- International Coal Ventures Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Ambuja Cements Ltd - India
- Savvy Resources Ltd - HongKong
- Interocean Group of Companies - India
- GN Power Mariveles Coal Plant, Philippines
- Leighton Contractors Pty Ltd - Australia
- Therma Luzon, Inc, Philippines
- ASAPP Information Group - India
- San Jose City I Power Corp, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Edison Trading Spa - Italy
- Planning Commission, India
- Orica Australia Pty. Ltd.
- LBH Netherlands Bv - Netherlands
- Jindal Steel & Power Ltd - India
- Indogreen Group - Indonesia
- McConnell Dowell - Australia
- Gujarat Mineral Development Corp Ltd - India
- GMR Energy Limited - India
- Star Paper Mills Limited - India
- Siam City Cement PLC, Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- IEA Clean Coal Centre - UK
- Bulk Trading Sa - Switzerland
- Timah Investasi Mineral - Indoneisa
- VISA Power Limited - India
- Indonesian Coal Mining Association
- Mintek Dendrill Indonesia
- Commonwealth Bank - Australia
- Deloitte Consulting - India
- European Bulk Services B.V. - Netherlands
- New Zealand Coal & Carbon
- Rashtriya Ispat Nigam Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Bharathi Cement Corporation - India
- The Treasury - Australian Government
- Simpson Spence & Young - Indonesia
- Orica Mining Services - Indonesia
- TeaM Sual Corporation - Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Rio Tinto Coal - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Siam City Cement - Thailand
- Banpu Public Company Limited - Thailand
- Indian Oil Corporation Limited
- Bayan Resources Tbk. - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Global Green Power PLC Corporation, Philippines
- Mercuria Energy - Indonesia
- Dalmia Cement Bharat India
- Eastern Energy - Thailand
- Sojitz Corporation - Japan
- Aboitiz Power Corporation - Philippines
- Maheswari Brothers Coal Limited - India
- Parry Sugars Refinery, India
- Holcim Trading Pte Ltd - Singapore
- Iligan Light & Power Inc, Philippines
- Makarim & Taira - Indonesia
- White Energy Company Limited
- Metalloyd Limited - United Kingdom
- Kalimantan Lumbung Energi - Indonesia
- Bangladesh Power Developement Board
- Sree Jayajothi Cements Limited - India
- Ind-Barath Power Infra Limited - India
- Posco Energy - South Korea
- Borneo Indobara - Indonesia
- Oldendorff Carriers - Singapore
- Electricity Authority, New Zealand
- Georgia Ports Authority, United States
- Kepco SPC Power Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- London Commodity Brokers - England
- Ministry of Finance - Indonesia
- Chamber of Mines of South Africa
- Gujarat Electricity Regulatory Commission - India
- Straits Asia Resources Limited - Singapore
- Baramulti Group, Indonesia
- Semirara Mining and Power Corporation, Philippines
- Gujarat Sidhee Cement - India
- Kumho Petrochemical, South Korea
- Miang Besar Coal Terminal - Indonesia
- Xindia Steels Limited - India
- Toyota Tsusho Corporation, Japan
- Lanco Infratech Ltd - India
- Indian Energy Exchange, India
- Anglo American - United Kingdom
- Mjunction Services Limited - India
- Price Waterhouse Coopers - Russia
- Bukit Baiduri Energy - Indonesia
- Meralco Power Generation, Philippines
- PTC India Limited - India
- Wood Mackenzie - Singapore
- Formosa Plastics Group - Taiwan
- Riau Bara Harum - Indonesia
- Thai Mozambique Logistica
- Independent Power Producers Association of India
- Ministry of Mines - Canada
- Intertek Mineral Services - Indonesia
- CIMB Investment Bank - Malaysia
- Tata Chemicals Ltd - India
- Bukit Makmur.PT - Indonesia
- Coalindo Energy - Indonesia
- Videocon Industries ltd - India
- Kaltim Prima Coal - Indonesia
- Directorate Of Revenue Intelligence - India
- Karaikal Port Pvt Ltd - India
- Marubeni Corporation - India
- Africa Commodities Group - South Africa
- Australian Coal Association
- Karbindo Abesyapradhi - Indoneisa
- Latin American Coal - Colombia
- Sical Logistics Limited - India
- Altura Mining Limited, Indonesia
- Eastern Coal Council - USA
- Electricity Generating Authority of Thailand
- Standard Chartered Bank - UAE
- Kobexindo Tractors - Indoneisa
- Central Java Power - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Cement Manufacturers Association - India
- Indo Tambangraya Megah - Indonesia
- OPG Power Generation Pvt Ltd - India
- Medco Energi Mining Internasional
- Tamil Nadu electricity Board
- Larsen & Toubro Limited - India
- South Luzon Thermal Energy Corporation
- Semirara Mining Corp, Philippines
- Ministry of Transport, Egypt
- PowerSource Philippines DevCo
- Port Waratah Coal Services - Australia
- GAC Shipping (India) Pvt Ltd
- GVK Power & Infra Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Vizag Seaport Private Limited - India
- IHS Mccloskey Coal Group - USA
- The University of Queensland
- Salva Resources Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Uttam Galva Steels Limited - India
- Australian Commodity Traders Exchange
- The State Trading Corporation of India Ltd
- Global Coal Blending Company Limited - Australia
- Kideco Jaya Agung - Indonesia
- SMC Global Power, Philippines
- Renaissance Capital - South Africa
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