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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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Wednesday, 24 May 17
LR MARKET IT SEEMS THAT EARNINGS ARE STILL UNDER PRESSURE - INTERMODAL
As we are approaching the summer season, the Clean Product market appears poised to become more challenging, either on East or West of Suez.
L ...
Tuesday, 23 May 17
TANKERS WEEKLY MARKET NOTE - ALLIED
It’s been a turbulent couple of weeks on the oil front, with the effectiveness of OPEC’s policy being under debate amongst most traders ...
Monday, 22 May 17
THE SHIPPING INDEX DECLINES AGAIN
COALspot.com: The Freight market again decline this past week, as BDI and all other indexes show a negative trend week over week.
The Baltic E ...
Friday, 19 May 17
U.S WEEKLY COAL OUTPUT UP 1.2% WEEK OVER WEEK - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 13.5 million short ton ...
Thursday, 18 May 17
SUPRAMAX : COAL TRIPS TO CHINA WITH VESSELS OPEN INDO HAVE BEEN FIXED AROUND $8000
Supramax
Atlantic market has stayed quiet with no substantial developments.
Cont to Med scrap cargoes have concluded around 11k says Fearnle ...
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- Sical Logistics Limited - India
- Meenaskhi Energy Private Limited - India
- TeaM Sual Corporation - Philippines
- Chettinad Cement Corporation Ltd - India
- The Treasury - Australian Government
- Carbofer General Trading SA - India
- Holcim Trading Pte Ltd - Singapore
- Banpu Public Company Limited - Thailand
- Indian Energy Exchange, India
- Iligan Light & Power Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Pendopo Energi Batubara - Indonesia
- Minerals Council of Australia
- Georgia Ports Authority, United States
- Barasentosa Lestari - Indonesia
- The University of Queensland
- Gujarat Electricity Regulatory Commission - India
- ASAPP Information Group - India
- Tata Chemicals Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Oldendorff Carriers - Singapore
- Leighton Contractors Pty Ltd - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bank of Tokyo Mitsubishi UFJ Ltd
- Petron Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- PowerSource Philippines DevCo
- Bukit Makmur.PT - Indonesia
- Altura Mining Limited, Indonesia
- Madhucon Powers Ltd - India
- Parry Sugars Refinery, India
- ICICI Bank Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PNOC Exploration Corporation - Philippines
- Simpson Spence & Young - Indonesia
- Commonwealth Bank - Australia
- Kepco SPC Power Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Trasteel International SA, Italy
- Bharathi Cement Corporation - India
- Thai Mozambique Logistica
- Ministry of Finance - Indonesia
- Bayan Resources Tbk. - Indonesia
- Ambuja Cements Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Indo Tambangraya Megah - Indonesia
- Riau Bara Harum - Indonesia
- Mintek Dendrill Indonesia
- Formosa Plastics Group - Taiwan
- Merrill Lynch Commodities Europe
- Sojitz Corporation - Japan
- International Coal Ventures Pvt Ltd - India
- CNBM International Corporation - China
- Essar Steel Hazira Ltd - India
- Heidelberg Cement - Germany
- Australian Coal Association
- Orica Mining Services - Indonesia
- Edison Trading Spa - Italy
- Attock Cement Pakistan Limited
- Electricity Generating Authority of Thailand
- Tamil Nadu electricity Board
- Miang Besar Coal Terminal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- GMR Energy Limited - India
- MS Steel International - UAE
- Mercator Lines Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Indian Oil Corporation Limited
- Kumho Petrochemical, South Korea
- GAC Shipping (India) Pvt Ltd
- LBH Netherlands Bv - Netherlands
- Gujarat Sidhee Cement - India
- Thiess Contractors Indonesia
- Vedanta Resources Plc - India
- Global Business Power Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Kaltim Prima Coal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Global Coal Blending Company Limited - Australia
- Aboitiz Power Corporation - Philippines
- Antam Resourcindo - Indonesia
- Coalindo Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Energy Development Corp, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Xindia Steels Limited - India
- Bulk Trading Sa - Switzerland
- Bahari Cakrawala Sebuku - Indonesia
- Eastern Coal Council - USA
- Economic Council, Georgia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Agrawal Coal Company - India
- Ceylon Electricity Board - Sri Lanka
- PTC India Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Latin American Coal - Colombia
- Coastal Gujarat Power Limited - India
- Metalloyd Limited - United Kingdom
- South Luzon Thermal Energy Corporation
- Aditya Birla Group - India
- Ministry of Mines - Canada
- PetroVietnam Power Coal Import and Supply Company
- Offshore Bulk Terminal Pte Ltd, Singapore
- Central Electricity Authority - India
- Eastern Energy - Thailand
- Sindya Power Generating Company Private Ltd
- GVK Power & Infra Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ind-Barath Power Infra Limited - India
- Global Green Power PLC Corporation, Philippines
- Planning Commission, India
- Sinarmas Energy and Mining - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Asmin Koalindo Tuhup - Indonesia
- Ministry of Transport, Egypt
- Bhushan Steel Limited - India
- CIMB Investment Bank - Malaysia
- Binh Thuan Hamico - Vietnam
- London Commodity Brokers - England
- Indonesian Coal Mining Association
- Price Waterhouse Coopers - Russia
- Power Finance Corporation Ltd., India
- Directorate Of Revenue Intelligence - India
- Straits Asia Resources Limited - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Romanian Commodities Exchange
- White Energy Company Limited
- Medco Energi Mining Internasional
- Borneo Indobara - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Mercuria Energy - Indonesia
- Bukit Baiduri Energy - Indonesia
- Siam City Cement - Thailand
- Makarim & Taira - Indonesia
- IEA Clean Coal Centre - UK
- Indika Energy - Indonesia
- Australian Commodity Traders Exchange
- Malabar Cements Ltd - India
- San Jose City I Power Corp, Philippines
- Bhatia International Limited - India
- Orica Australia Pty. Ltd.
- Chamber of Mines of South Africa
- McConnell Dowell - Australia
- Alfred C Toepfer International GmbH - Germany
- Cement Manufacturers Association - India
- Renaissance Capital - South Africa
- Posco Energy - South Korea
- Meralco Power Generation, Philippines
- Sakthi Sugars Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Indogreen Group - Indonesia
- Bhoruka Overseas - Indonesia
- Anglo American - United Kingdom
- Wilmar Investment Holdings
- Grasim Industreis Ltd - India
- Singapore Mercantile Exchange
- India Bulls Power Limited - India
- SN Aboitiz Power Inc, Philippines
- Marubeni Corporation - India
- SMG Consultants - Indonesia
- Vizag Seaport Private Limited - India
- SMC Global Power, Philippines
- Therma Luzon, Inc, Philippines
- Videocon Industries ltd - India
- Kalimantan Lumbung Energi - Indonesia
- European Bulk Services B.V. - Netherlands
- Manunggal Multi Energi - Indonesia
- Savvy Resources Ltd - HongKong
- Central Java Power - Indonesia
- Kobexindo Tractors - Indoneisa
- Sree Jayajothi Cements Limited - India
- Samtan Co., Ltd - South Korea
- Kartika Selabumi Mining - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Port Waratah Coal Services - Australia
- VISA Power Limited - India
- Jaiprakash Power Ventures ltd
- Coal and Oil Company - UAE
- Larsen & Toubro Limited - India
- Jindal Steel & Power Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Maheswari Brothers Coal Limited - India
- Karaikal Port Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Mjunction Services Limited - India
- Baramulti Group, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Siam City Cement PLC, Thailand
- Electricity Authority, New Zealand
- Dalmia Cement Bharat India
- Star Paper Mills Limited - India
- The State Trading Corporation of India Ltd
- Interocean Group of Companies - India
- Neyveli Lignite Corporation Ltd, - India
- Deloitte Consulting - India
- Standard Chartered Bank - UAE
- Bangladesh Power Developement Board
- Energy Link Ltd, New Zealand
- Krishnapatnam Port Company Ltd. - India
- New Zealand Coal & Carbon
- Billiton Holdings Pty Ltd - Australia
- Lanco Infratech Ltd - India
- Semirara Mining Corp, Philippines
- IHS Mccloskey Coal Group - USA
- Uttam Galva Steels Limited - India
- Independent Power Producers Association of India
- Africa Commodities Group - South Africa
- Goldman Sachs - Singapore
- Timah Investasi Mineral - Indoneisa
- Wood Mackenzie - Singapore
- OPG Power Generation Pvt Ltd - India
- Parliament of New Zealand
- Rio Tinto Coal - Australia
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