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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, 24 February 17
US WEEKLY COAL OUTPUT ESTIMATED AT 16.8 MMST - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 16.8 million short ton ...
Thursday, 23 February 17
ULTRA SUPRAMAX: INDONESIA TO INDIA IS GETTING AROUND $10-11K BASIS SINGAPORE DELIVERY
Supramax
The week started off quietly in the Atlantic with more activity in the Pacific basin.
According to Fearnleys weekly report, frontha ...
Wednesday, 22 February 17
TANKER MARKET INSIGHT - KATERINA RESTIS
In 2016 a session of the IMO committee in London, set the new prerequisites effective from January 2020, which will necessitate global Sulphur cont ...
Tuesday, 21 February 17
INDIA'S JANUARY COAL IMPORTS DECLINE 21.7 PERCENT YEAR -ON-YEAR TO 14.31 MT - PTI
Coal imports declined by 21.7 per cent to 14.31 million tonnes in January as the power utilities did not lift much fuel due to abundant stock avail ...
Tuesday, 21 February 17
CHINESE EXPORTS SHOWED A YEAR-ON-YEAR RISE FOR THE FIRST TIME IN TEN MONTHS; S. KOREA'S EXPORTS UP FOR PAST THREE MONTHS IN A ROW - GEORGE LAZARIDIS
We have started to some sparks of life in the commodities markets these past weeks, with prices having shown a strong push during the past couple o ...
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- Singapore Mercantile Exchange
- Indo Tambangraya Megah - Indonesia
- TeaM Sual Corporation - Philippines
- Orica Australia Pty. Ltd.
- Uttam Galva Steels Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Essar Steel Hazira Ltd - India
- India Bulls Power Limited - India
- Anglo American - United Kingdom
- Vedanta Resources Plc - India
- Georgia Ports Authority, United States
- London Commodity Brokers - England
- Alfred C Toepfer International GmbH - Germany
- Maheswari Brothers Coal Limited - India
- PNOC Exploration Corporation - Philippines
- Mintek Dendrill Indonesia
- Jindal Steel & Power Ltd - India
- Baramulti Group, Indonesia
- Videocon Industries ltd - India
- AsiaOL BioFuels Corp., Philippines
- Orica Mining Services - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Madhucon Powers Ltd - India
- Sojitz Corporation - Japan
- Wilmar Investment Holdings
- Merrill Lynch Commodities Europe
- Aditya Birla Group - India
- GVK Power & Infra Limited - India
- CNBM International Corporation - China
- Standard Chartered Bank - UAE
- Mjunction Services Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Heidelberg Cement - Germany
- Sakthi Sugars Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Coalindo Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Banpu Public Company Limited - Thailand
- Eastern Coal Council - USA
- Kapuas Tunggal Persada - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Posco Energy - South Korea
- Meenaskhi Energy Private Limited - India
- Renaissance Capital - South Africa
- PowerSource Philippines DevCo
- Globalindo Alam Lestari - Indonesia
- Minerals Council of Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- New Zealand Coal & Carbon
- Latin American Coal - Colombia
- Thiess Contractors Indonesia
- Sindya Power Generating Company Private Ltd
- Gujarat Sidhee Cement - India
- Metalloyd Limited - United Kingdom
- Ambuja Cements Ltd - India
- The University of Queensland
- ASAPP Information Group - India
- Global Business Power Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Salva Resources Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- South Luzon Thermal Energy Corporation
- Marubeni Corporation - India
- Therma Luzon, Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Ministry of Finance - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Cigading International Bulk Terminal - Indonesia
- Rio Tinto Coal - Australia
- Grasim Industreis Ltd - India
- Goldman Sachs - Singapore
- Tamil Nadu electricity Board
- Romanian Commodities Exchange
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- ICICI Bank Limited - India
- VISA Power Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indogreen Group - Indonesia
- Sical Logistics Limited - India
- Manunggal Multi Energi - Indonesia
- Star Paper Mills Limited - India
- Rashtriya Ispat Nigam Limited - India
- Ministry of Mines - Canada
- Riau Bara Harum - Indonesia
- Indian Oil Corporation Limited
- Offshore Bulk Terminal Pte Ltd, Singapore
- Siam City Cement PLC, Thailand
- Planning Commission, India
- Kalimantan Lumbung Energi - Indonesia
- Savvy Resources Ltd - HongKong
- IEA Clean Coal Centre - UK
- Indika Energy - Indonesia
- Altura Mining Limited, Indonesia
- The Treasury - Australian Government
- Toyota Tsusho Corporation, Japan
- Global Green Power PLC Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Central Java Power - Indonesia
- Bharathi Cement Corporation - India
- GAC Shipping (India) Pvt Ltd
- Intertek Mineral Services - Indonesia
- The State Trading Corporation of India Ltd
- Straits Asia Resources Limited - Singapore
- Malabar Cements Ltd - India
- Bhatia International Limited - India
- Lanco Infratech Ltd - India
- IHS Mccloskey Coal Group - USA
- Eastern Energy - Thailand
- Meralco Power Generation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Vizag Seaport Private Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Kideco Jaya Agung - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Makarim & Taira - Indonesia
- Deloitte Consulting - India
- Larsen & Toubro Limited - India
- Economic Council, Georgia
- Bhushan Steel Limited - India
- Bulk Trading Sa - Switzerland
- Commonwealth Bank - Australia
- Pendopo Energi Batubara - Indonesia
- Parliament of New Zealand
- Miang Besar Coal Terminal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Chamber of Mines of South Africa
- Maharashtra Electricity Regulatory Commission - India
- Binh Thuan Hamico - Vietnam
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Xindia Steels Limited - India
- Coastal Gujarat Power Limited - India
- Indonesian Coal Mining Association
- Antam Resourcindo - Indonesia
- White Energy Company Limited
- Kepco SPC Power Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Central Electricity Authority - India
- Siam City Cement - Thailand
- SMC Global Power, Philippines
- Indian Energy Exchange, India
- GMR Energy Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Africa Commodities Group - South Africa
- Samtan Co., Ltd - South Korea
- Ministry of Transport, Egypt
- OPG Power Generation Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Bukit Makmur.PT - Indonesia
- Electricity Authority, New Zealand
- Parry Sugars Refinery, India
- Energy Development Corp, Philippines
- Energy Link Ltd, New Zealand
- Kartika Selabumi Mining - Indonesia
- Mercuria Energy - Indonesia
- Trasteel International SA, Italy
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vijayanagar Sugar Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Australian Coal Association
- Australian Commodity Traders Exchange
- Iligan Light & Power Inc, Philippines
- Coal and Oil Company - UAE
- Asmin Koalindo Tuhup - Indonesia
- PTC India Limited - India
- Kobexindo Tractors - Indoneisa
- Thai Mozambique Logistica
- Oldendorff Carriers - Singapore
- Medco Energi Mining Internasional
- Global Coal Blending Company Limited - Australia
- Sree Jayajothi Cements Limited - India
- Borneo Indobara - Indonesia
- Mercator Lines Limited - India
- SMG Consultants - Indonesia
- Wood Mackenzie - Singapore
- Gujarat Electricity Regulatory Commission - India
- Carbofer General Trading SA - India
- Petron Corporation, Philippines
- Agrawal Coal Company - India
- Bayan Resources Tbk. - Indonesia
- Aboitiz Power Corporation - Philippines
- San Jose City I Power Corp, Philippines
- Bangladesh Power Developement Board
- Jaiprakash Power Ventures ltd
- Power Finance Corporation Ltd., India
- Barasentosa Lestari - Indonesia
- Edison Trading Spa - Italy
- Independent Power Producers Association of India
- Kaltim Prima Coal - Indonesia
- Port Waratah Coal Services - Australia
- Ind-Barath Power Infra Limited - India
- McConnell Dowell - Australia
- Semirara Mining and Power Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Ceylon Electricity Board - Sri Lanka
- Karbindo Abesyapradhi - Indoneisa
- Semirara Mining Corp, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Interocean Group of Companies - India
- Timah Investasi Mineral - Indoneisa
- MS Steel International - UAE
- Cement Manufacturers Association - India
- Formosa Plastics Group - Taiwan
- Electricity Generating Authority of Thailand
- Jorong Barutama Greston.PT - Indonesia
- Dalmia Cement Bharat India
- International Coal Ventures Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Bhoruka Overseas - Indonesia
- Directorate Of Revenue Intelligence - India
- Kumho Petrochemical, South Korea
- Attock Cement Pakistan Limited
- Tata Chemicals Ltd - India
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