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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, 03 February 17
U.S. WEEKLY COAL PRODUCTION DECLINED 3.9% W/W; ROSE 17.7% Y/Y
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 16.1 million short ton ...
Friday, 03 February 17
US - EXECUTIVE ORDER ON IMMIGRATION AFFECTS VESSEL CREWS - GARD
From 27 January 2017, crew members carrying Iraqi, Syrian, Sudanese, Iranian, Somalian, Libyan or Yemeni passports are temporarily barred from ente ...
Wednesday, 01 February 17
MARKET INSIGHT - PANOS TSILINGIRIS
The recent placement of LOIs for 208kdwt Newcastlemax Newbuildings at $38.5m at Private Chinese Yard identifies with the modern history low for dry ...
Tuesday, 31 January 17
A CASE OF NEW YEAR BLUES FOR THE FAR EAST? - GEORGE LAZARIDIS
Unlike the typical lull in the market that we note during the period just prior to the Chinese New Year, 2017 has proved to be fairly m ...
Monday, 30 January 17
DUE TO LUNAR YEAR HOLIDAYS, THE FREIGHT MARKET STAYED WEAK
COALspot.com: Due to Lunar year holidays and celebration, the Freight market was down in all segments this past week.
The Baltic Exchange, tra ...
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- Kaltim Prima Coal - Indonesia
- GVK Power & Infra Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Latin American Coal - Colombia
- India Bulls Power Limited - India
- Global Business Power Corporation, Philippines
- Ambuja Cements Ltd - India
- Tata Chemicals Ltd - India
- Sical Logistics Limited - India
- Coal and Oil Company - UAE
- Eastern Energy - Thailand
- Port Waratah Coal Services - Australia
- Rio Tinto Coal - Australia
- Pendopo Energi Batubara - Indonesia
- Maheswari Brothers Coal Limited - India
- Coastal Gujarat Power Limited - India
- Vizag Seaport Private Limited - India
- Indogreen Group - Indonesia
- Indian Oil Corporation Limited
- Wilmar Investment Holdings
- Interocean Group of Companies - India
- Directorate Of Revenue Intelligence - India
- Bayan Resources Tbk. - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Miang Besar Coal Terminal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sinarmas Energy and Mining - Indonesia
- Banpu Public Company Limited - Thailand
- Neyveli Lignite Corporation Ltd, - India
- Trasteel International SA, Italy
- ICICI Bank Limited - India
- Price Waterhouse Coopers - Russia
- Cement Manufacturers Association - India
- CIMB Investment Bank - Malaysia
- Bulk Trading Sa - Switzerland
- Power Finance Corporation Ltd., India
- Globalindo Alam Lestari - Indonesia
- Australian Coal Association
- Energy Link Ltd, New Zealand
- Rashtriya Ispat Nigam Limited - India
- Videocon Industries ltd - India
- Central Electricity Authority - India
- IHS Mccloskey Coal Group - USA
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Vedanta Resources Plc - India
- London Commodity Brokers - England
- Parry Sugars Refinery, India
- Metalloyd Limited - United Kingdom
- Borneo Indobara - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Billiton Holdings Pty Ltd - Australia
- Karbindo Abesyapradhi - Indoneisa
- Africa Commodities Group - South Africa
- Tamil Nadu electricity Board
- Deloitte Consulting - India
- Krishnapatnam Port Company Ltd. - India
- Sarangani Energy Corporation, Philippines
- Edison Trading Spa - Italy
- Gujarat Mineral Development Corp Ltd - India
- Uttam Galva Steels Limited - India
- Medco Energi Mining Internasional
- Economic Council, Georgia
- Planning Commission, India
- Energy Development Corp, Philippines
- Goldman Sachs - Singapore
- Cigading International Bulk Terminal - Indonesia
- New Zealand Coal & Carbon
- Riau Bara Harum - Indonesia
- Lanco Infratech Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ministry of Finance - Indonesia
- Kartika Selabumi Mining - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Jindal Steel & Power Ltd - India
- Thai Mozambique Logistica
- Merrill Lynch Commodities Europe
- Thiess Contractors Indonesia
- Savvy Resources Ltd - HongKong
- Jaiprakash Power Ventures ltd
- Ind-Barath Power Infra Limited - India
- VISA Power Limited - India
- Indian Energy Exchange, India
- Straits Asia Resources Limited - Singapore
- Malabar Cements Ltd - India
- SN Aboitiz Power Inc, Philippines
- Australian Commodity Traders Exchange
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Central Java Power - Indonesia
- Commonwealth Bank - Australia
- San Jose City I Power Corp, Philippines
- Georgia Ports Authority, United States
- Altura Mining Limited, Indonesia
- Intertek Mineral Services - Indonesia
- Bhatia International Limited - India
- Global Coal Blending Company Limited - Australia
- Posco Energy - South Korea
- Sree Jayajothi Cements Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Samtan Co., Ltd - South Korea
- Chettinad Cement Corporation Ltd - India
- Xindia Steels Limited - India
- CNBM International Corporation - China
- Jorong Barutama Greston.PT - Indonesia
- Grasim Industreis Ltd - India
- Sojitz Corporation - Japan
- TeaM Sual Corporation - Philippines
- SMG Consultants - Indonesia
- Ministry of Transport, Egypt
- Kepco SPC Power Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Orica Australia Pty. Ltd.
- Barasentosa Lestari - Indonesia
- The Treasury - Australian Government
- Oldendorff Carriers - Singapore
- Holcim Trading Pte Ltd - Singapore
- Indika Energy - Indonesia
- Star Paper Mills Limited - India
- The State Trading Corporation of India Ltd
- Maharashtra Electricity Regulatory Commission - India
- ASAPP Information Group - India
- Meralco Power Generation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Romanian Commodities Exchange
- SMC Global Power, Philippines
- PTC India Limited - India
- Essar Steel Hazira Ltd - India
- Karaikal Port Pvt Ltd - India
- GMR Energy Limited - India
- Mintek Dendrill Indonesia
- Bangladesh Power Developement Board
- Formosa Plastics Group - Taiwan
- GAC Shipping (India) Pvt Ltd
- Iligan Light & Power Inc, Philippines
- Salva Resources Pvt Ltd - India
- Carbofer General Trading SA - India
- Siam City Cement PLC, Thailand
- Indonesian Coal Mining Association
- Eastern Coal Council - USA
- Gujarat Electricity Regulatory Commission - India
- Wood Mackenzie - Singapore
- Bharathi Cement Corporation - India
- Pipit Mutiara Jaya. PT, Indonesia
- Therma Luzon, Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Aboitiz Power Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- PNOC Exploration Corporation - Philippines
- Asmin Koalindo Tuhup - Indonesia
- South Luzon Thermal Energy Corporation
- Independent Power Producers Association of India
- Makarim & Taira - Indonesia
- Kideco Jaya Agung - Indonesia
- Singapore Mercantile Exchange
- Bukit Baiduri Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Kobexindo Tractors - Indoneisa
- Agrawal Coal Company - India
- Standard Chartered Bank - UAE
- Semirara Mining Corp, Philippines
- Siam City Cement - Thailand
- Renaissance Capital - South Africa
- Petron Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Kumho Petrochemical, South Korea
- Mjunction Services Limited - India
- Ceylon Electricity Board - Sri Lanka
- Bukit Asam (Persero) Tbk - Indonesia
- Bhoruka Overseas - Indonesia
- The University of Queensland
- Leighton Contractors Pty Ltd - Australia
- Toyota Tsusho Corporation, Japan
- Anglo American - United Kingdom
- Aditya Birla Group - India
- European Bulk Services B.V. - Netherlands
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Mercuria Energy - Indonesia
- Orica Mining Services - Indonesia
- Marubeni Corporation - India
- Heidelberg Cement - Germany
- PowerSource Philippines DevCo
- International Coal Ventures Pvt Ltd - India
- Sakthi Sugars Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Dalmia Cement Bharat India
- PetroVietnam Power Coal Import and Supply Company
- Bhushan Steel Limited - India
- Semirara Mining and Power Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Attock Cement Pakistan Limited
- Baramulti Group, Indonesia
- IEA Clean Coal Centre - UK
- Indo Tambangraya Megah - Indonesia
- Antam Resourcindo - Indonesia
- Mercator Lines Limited - India
- Simpson Spence & Young - Indonesia
- Madhucon Powers Ltd - India
- Ministry of Mines - Canada
- MS Steel International - UAE
- White Energy Company Limited
- LBH Netherlands Bv - Netherlands
- Kapuas Tunggal Persada - Indonesia
- Chamber of Mines of South Africa
- TNB Fuel Sdn Bhd - Malaysia
- Larsen & Toubro Limited - India
- McConnell Dowell - Australia
- Electricity Authority, New Zealand
- Binh Thuan Hamico - Vietnam
- Coalindo Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Gujarat Sidhee Cement - India
- Minerals Council of Australia
- OPG Power Generation Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Parliament of New Zealand
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