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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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Tuesday, 25 April 17
SHIPPING MARKET - ALLIED
Over the weekend we witnessed a second win over the rising populism that has become present in global politics since last summer, Allied shipping s ...
Monday, 24 April 17
THE FREIGHT MARKET WAS DOWN WEEK OVER WEEK EXCEPT FOR HANDYSIZE SEGMENT
COALspot.com: The Freight market was fell, week over a week as all segments show a negative downward trend except Handy Size segment this past week ...
Friday, 21 April 17
US WEEKLY COAL OUTPUT ON THE UP, EIA DATA SHOWS
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 14.9 million short ton ...
Thursday, 20 April 17
SHIPPING POOLS: DON'T JUST DIVE IN - MOORE STEPHENS
Shipping pools can be an attractive option for ship owners and operators, particularly in difficult markets and during periods of economic uncertai ...
Thursday, 20 April 17
THE DRY BULK MARKET IS STILL ON ITS UPWARD MOMENTUM - ALLIED SHIPPING
Having gone through the first quarter of the year and with the Easter break having no come and gone, it seems as though the dry bulk market is stil ...
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- Gujarat Mineral Development Corp Ltd - India
- Goldman Sachs - Singapore
- GMR Energy Limited - India
- The State Trading Corporation of India Ltd
- Salva Resources Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Indonesian Coal Mining Association
- Semirara Mining Corp, Philippines
- Karaikal Port Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Kobexindo Tractors - Indoneisa
- Bayan Resources Tbk. - Indonesia
- Orica Mining Services - Indonesia
- Bukit Baiduri Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Barasentosa Lestari - Indonesia
- Kaltim Prima Coal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Coal and Oil Company - UAE
- GN Power Mariveles Coal Plant, Philippines
- The Treasury - Australian Government
- Deloitte Consulting - India
- Essar Steel Hazira Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Bukit Makmur.PT - Indonesia
- Makarim & Taira - Indonesia
- Aboitiz Power Corporation - Philippines
- London Commodity Brokers - England
- VISA Power Limited - India
- Binh Thuan Hamico - Vietnam
- Tata Chemicals Ltd - India
- Vedanta Resources Plc - India
- Edison Trading Spa - Italy
- Samtan Co., Ltd - South Korea
- Minerals Council of Australia
- Ind-Barath Power Infra Limited - India
- Chettinad Cement Corporation Ltd - India
- Trasteel International SA, Italy
- Renaissance Capital - South Africa
- South Luzon Thermal Energy Corporation
- Rashtriya Ispat Nigam Limited - India
- Borneo Indobara - Indonesia
- Gujarat Sidhee Cement - India
- Eastern Coal Council - USA
- Ministry of Finance - Indonesia
- Coalindo Energy - Indonesia
- Thai Mozambique Logistica
- Offshore Bulk Terminal Pte Ltd, Singapore
- MS Steel International - UAE
- Australian Commodity Traders Exchange
- Bulk Trading Sa - Switzerland
- GAC Shipping (India) Pvt Ltd
- Kartika Selabumi Mining - Indonesia
- New Zealand Coal & Carbon
- Ministry of Transport, Egypt
- Orica Australia Pty. Ltd.
- Commonwealth Bank - Australia
- Riau Bara Harum - Indonesia
- Meenaskhi Energy Private Limited - India
- Kepco SPC Power Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Baramulti Group, Indonesia
- Toyota Tsusho Corporation, Japan
- Savvy Resources Ltd - HongKong
- Tamil Nadu electricity Board
- Dalmia Cement Bharat India
- Global Coal Blending Company Limited - Australia
- Ceylon Electricity Board - Sri Lanka
- White Energy Company Limited
- Mercuria Energy - Indonesia
- Medco Energi Mining Internasional
- International Coal Ventures Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Marubeni Corporation - India
- Jaiprakash Power Ventures ltd
- Sindya Power Generating Company Private Ltd
- Madhucon Powers Ltd - India
- Sarangani Energy Corporation, Philippines
- PowerSource Philippines DevCo
- Heidelberg Cement - Germany
- Uttam Galva Steels Limited - India
- Price Waterhouse Coopers - Russia
- Maheswari Brothers Coal Limited - India
- Indika Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Parliament of New Zealand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bukit Asam (Persero) Tbk - Indonesia
- ICICI Bank Limited - India
- Indian Oil Corporation Limited
- Leighton Contractors Pty Ltd - Australia
- Altura Mining Limited, Indonesia
- Bharathi Cement Corporation - India
- Georgia Ports Authority, United States
- Global Green Power PLC Corporation, Philippines
- Petron Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Anglo American - United Kingdom
- SMC Global Power, Philippines
- Central Electricity Authority - India
- TNB Fuel Sdn Bhd - Malaysia
- Jorong Barutama Greston.PT - Indonesia
- Banpu Public Company Limited - Thailand
- Formosa Plastics Group - Taiwan
- Coastal Gujarat Power Limited - India
- TeaM Sual Corporation - Philippines
- Kalimantan Lumbung Energi - Indonesia
- Kideco Jaya Agung - Indonesia
- Metalloyd Limited - United Kingdom
- Kumho Petrochemical, South Korea
- India Bulls Power Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Holcim Trading Pte Ltd - Singapore
- PNOC Exploration Corporation - Philippines
- Sical Logistics Limited - India
- SMG Consultants - Indonesia
- Aditya Birla Group - India
- Krishnapatnam Port Company Ltd. - India
- Energy Link Ltd, New Zealand
- Straits Asia Resources Limited - Singapore
- CNBM International Corporation - China
- GVK Power & Infra Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Chamber of Mines of South Africa
- PTC India Limited - India
- Directorate Of Revenue Intelligence - India
- CIMB Investment Bank - Malaysia
- Larsen & Toubro Limited - India
- IEA Clean Coal Centre - UK
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Vizag Seaport Private Limited - India
- Agrawal Coal Company - India
- Malabar Cements Ltd - India
- Latin American Coal - Colombia
- Pendopo Energi Batubara - Indonesia
- Power Finance Corporation Ltd., India
- Simpson Spence & Young - Indonesia
- SN Aboitiz Power Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Romanian Commodities Exchange
- Merrill Lynch Commodities Europe
- Grasim Industreis Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Africa Commodities Group - South Africa
- Cigading International Bulk Terminal - Indonesia
- The University of Queensland
- Posco Energy - South Korea
- Planning Commission, India
- Manunggal Multi Energi - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Bhatia International Limited - India
- Mjunction Services Limited - India
- Economic Council, Georgia
- Mercator Lines Limited - India
- Indogreen Group - Indonesia
- Star Paper Mills Limited - India
- Parry Sugars Refinery, India
- Sojitz Corporation - Japan
- Sree Jayajothi Cements Limited - India
- Lanco Infratech Ltd - India
- Meralco Power Generation, Philippines
- Jindal Steel & Power Ltd - India
- Electricity Generating Authority of Thailand
- Attock Cement Pakistan Limited
- Videocon Industries ltd - India
- Australian Coal Association
- Xindia Steels Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Singapore Mercantile Exchange
- Interocean Group of Companies - India
- Independent Power Producers Association of India
- Thiess Contractors Indonesia
- Mintek Dendrill Indonesia
- Port Waratah Coal Services - Australia
- Global Business Power Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- European Bulk Services B.V. - Netherlands
- Oldendorff Carriers - Singapore
- Sakthi Sugars Limited - India
- IHS Mccloskey Coal Group - USA
- Antam Resourcindo - Indonesia
- Rio Tinto Coal - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Sinarmas Energy and Mining - Indonesia
- McConnell Dowell - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Energy Development Corp, Philippines
- Wood Mackenzie - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Cement Manufacturers Association - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Central Java Power - Indonesia
- Ministry of Mines - Canada
- Indian Energy Exchange, India
- Gujarat Electricity Regulatory Commission - India
- ASAPP Information Group - India
- Electricity Authority, New Zealand
- AsiaOL BioFuels Corp., Philippines
- Intertek Mineral Services - Indonesia
- Bangladesh Power Developement Board
- Siam City Cement - Thailand
- Standard Chartered Bank - UAE
- Bhushan Steel Limited - India
- Siam City Cement PLC, Thailand
- Wilmar Investment Holdings
- Eastern Energy - Thailand
- Bhoruka Overseas - Indonesia
- Ambuja Cements Ltd - India
- Carbofer General Trading SA - India
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