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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, 15 February 17
SHIPPING MARKET INSIGHT - INTERMODAL
Looking at the state of the Dry Bulk market exactly a year ago, there is no doubt that there is a significant improvement and despite the fact that ...
Tuesday, 14 February 17
OPTIMISM HAS STARTED TO SLOWLY FLOW BACK INTO THE DRY BULK MARKET - GEORGE LAZARIDIS
Optimism has started to slowly flow back into the dry bulk market, with many in the market showing renewed optimism as the Pacific basin starts to ...
Monday, 13 February 17
COMBINED COAL SALES OF BUMI RESOURCES ROSE TO 87.7 MILLION TONS IN FY'16; UP 10.6 PERCENT Y/Y
COALspot.com: Combined Coal Sales of Bumi Resources rose to 87.7 million tons in FY’16 compared with 79.3 million tons in FY’15. ...
Monday, 13 February 17
THE FREIGHT MARKET CONTINUED TO TUMBLE IN FEBRUARY
COALspot.com: The Freight market was continued its downfall in all segments except Panamax for the week ending 10 February 2017.
The Balt ...
Friday, 10 February 17
U.S. COAL OUTPUT IS ESTIMATED TO HAVE DECLINED BY 158 MMST IN 2016 TO 739 MMST, SAYS EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 17 million short tons ...
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- CIMB Investment Bank - Malaysia
- New Zealand Coal & Carbon
- Medco Energi Mining Internasional
- Deloitte Consulting - India
- Marubeni Corporation - India
- IEA Clean Coal Centre - UK
- AsiaOL BioFuels Corp., Philippines
- Bhushan Steel Limited - India
- Kideco Jaya Agung - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Port Waratah Coal Services - Australia
- Riau Bara Harum - Indonesia
- Ministry of Transport, Egypt
- Eastern Energy - Thailand
- London Commodity Brokers - England
- Salva Resources Pvt Ltd - India
- Siam City Cement - Thailand
- Gujarat Mineral Development Corp Ltd - India
- Iligan Light & Power Inc, Philippines
- IHS Mccloskey Coal Group - USA
- Straits Asia Resources Limited - Singapore
- Carbofer General Trading SA - India
- Meralco Power Generation, Philippines
- Minerals Council of Australia
- Banpu Public Company Limited - Thailand
- Posco Energy - South Korea
- White Energy Company Limited
- Global Business Power Corporation, Philippines
- Bhatia International Limited - India
- Krishnapatnam Port Company Ltd. - India
- Uttam Galva Steels Limited - India
- Thai Mozambique Logistica
- Aditya Birla Group - India
- Mercator Lines Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Semirara Mining Corp, Philippines
- Coalindo Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Dalmia Cement Bharat India
- Bulk Trading Sa - Switzerland
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PNOC Exploration Corporation - Philippines
- Therma Luzon, Inc, Philippines
- TeaM Sual Corporation - Philippines
- Romanian Commodities Exchange
- Rio Tinto Coal - Australia
- Agrawal Coal Company - India
- Coal and Oil Company - UAE
- Georgia Ports Authority, United States
- Commonwealth Bank - Australia
- Mjunction Services Limited - India
- Sindya Power Generating Company Private Ltd
- Merrill Lynch Commodities Europe
- Timah Investasi Mineral - Indoneisa
- Sakthi Sugars Limited - India
- Billiton Holdings Pty Ltd - Australia
- The State Trading Corporation of India Ltd
- Mintek Dendrill Indonesia
- Toyota Tsusho Corporation, Japan
- Global Coal Blending Company Limited - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PowerSource Philippines DevCo
- Ambuja Cements Ltd - India
- Jaiprakash Power Ventures ltd
- Orica Australia Pty. Ltd.
- Kobexindo Tractors - Indoneisa
- Australian Commodity Traders Exchange
- Globalindo Alam Lestari - Indonesia
- McConnell Dowell - Australia
- Intertek Mineral Services - Indonesia
- Central Java Power - Indonesia
- Vizag Seaport Private Limited - India
- Videocon Industries ltd - India
- Alfred C Toepfer International GmbH - Germany
- MS Steel International - UAE
- Tamil Nadu electricity Board
- Indonesian Coal Mining Association
- Parliament of New Zealand
- Altura Mining Limited, Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- TNB Fuel Sdn Bhd - Malaysia
- Meenaskhi Energy Private Limited - India
- Samtan Co., Ltd - South Korea
- SMG Consultants - Indonesia
- Planning Commission, India
- European Bulk Services B.V. - Netherlands
- Pendopo Energi Batubara - Indonesia
- Larsen & Toubro Limited - India
- Cement Manufacturers Association - India
- GVK Power & Infra Limited - India
- Binh Thuan Hamico - Vietnam
- VISA Power Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Central Electricity Authority - India
- Kartika Selabumi Mining - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Xindia Steels Limited - India
- Antam Resourcindo - Indonesia
- Independent Power Producers Association of India
- Energy Development Corp, Philippines
- Siam City Cement PLC, Thailand
- Mercuria Energy - Indonesia
- Madhucon Powers Ltd - India
- Trasteel International SA, Italy
- Standard Chartered Bank - UAE
- Australian Coal Association
- Parry Sugars Refinery, India
- Sinarmas Energy and Mining - Indonesia
- Tata Chemicals Ltd - India
- CNBM International Corporation - China
- Leighton Contractors Pty Ltd - Australia
- Sojitz Corporation - Japan
- SMC Global Power, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Bukit Makmur.PT - Indonesia
- Miang Besar Coal Terminal - Indonesia
- LBH Netherlands Bv - Netherlands
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Thiess Contractors Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Bahari Cakrawala Sebuku - Indonesia
- Borneo Indobara - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Sical Logistics Limited - India
- Price Waterhouse Coopers - Russia
- Ministry of Mines - Canada
- Attock Cement Pakistan Limited
- Barasentosa Lestari - Indonesia
- Essar Steel Hazira Ltd - India
- The Treasury - Australian Government
- The University of Queensland
- Savvy Resources Ltd - HongKong
- GMR Energy Limited - India
- India Bulls Power Limited - India
- Bhoruka Overseas - Indonesia
- Anglo American - United Kingdom
- Maharashtra Electricity Regulatory Commission - India
- Baramulti Group, Indonesia
- Power Finance Corporation Ltd., India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bangladesh Power Developement Board
- Sree Jayajothi Cements Limited - India
- Oldendorff Carriers - Singapore
- Electricity Generating Authority of Thailand
- Indian Oil Corporation Limited
- Directorate Of Revenue Intelligence - India
- Singapore Mercantile Exchange
- Makarim & Taira - Indonesia
- Vedanta Resources Plc - India
- Chettinad Cement Corporation Ltd - India
- Manunggal Multi Energi - Indonesia
- Aboitiz Power Corporation - Philippines
- ICICI Bank Limited - India
- South Luzon Thermal Energy Corporation
- Edison Trading Spa - Italy
- International Coal Ventures Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- GAC Shipping (India) Pvt Ltd
- Ministry of Finance - Indonesia
- Petron Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Kaltim Prima Coal - Indonesia
- Jindal Steel & Power Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- ASAPP Information Group - India
- Heidelberg Cement - Germany
- Grasim Industreis Ltd - India
- Kepco SPC Power Corporation, Philippines
- Indika Energy - Indonesia
- Indogreen Group - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Interocean Group of Companies - India
- Cigading International Bulk Terminal - Indonesia
- Eastern Coal Council - USA
- Offshore Bulk Terminal Pte Ltd, Singapore
- Malabar Cements Ltd - India
- Simpson Spence & Young - Indonesia
- Latin American Coal - Colombia
- Lanco Infratech Ltd - India
- Sarangani Energy Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Wilmar Investment Holdings
- Coastal Gujarat Power Limited - India
- San Jose City I Power Corp, Philippines
- Bayan Resources Tbk. - Indonesia
- Electricity Authority, New Zealand
- Gujarat Sidhee Cement - India
- Chamber of Mines of South Africa
- Indian Energy Exchange, India
- Africa Commodities Group - South Africa
- Gujarat Electricity Regulatory Commission - India
- Bukit Baiduri Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- SN Aboitiz Power Inc, Philippines
- Bharathi Cement Corporation - India
- Formosa Plastics Group - Taiwan
- Star Paper Mills Limited - India
- Metalloyd Limited - United Kingdom
- Kumho Petrochemical, South Korea
- Neyveli Lignite Corporation Ltd, - India
- Orica Mining Services - Indonesia
- Global Green Power PLC Corporation, Philippines
- PTC India Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kohat Cement Company Ltd. - Pakistan
- Ind-Barath Power Infra Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Economic Council, Georgia
- Wood Mackenzie - Singapore
- Renaissance Capital - South Africa
- Goldman Sachs - Singapore
- Energy Link Ltd, New Zealand
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