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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, 13 January 17
U.S. COAL PRICES TO INCREASE IN 2017 AND IN 2018 - EIA
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Friday, 13 January 17
U.S. COAL IMPORTS IN THIRD QUARTER 2016 TOTALED 2.7 MMST, SAYS EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 13.8 million short ton ...
Thursday, 12 January 17
ASIA: COAL'S FUTURE - BENJAMIN SPORTON
As economies develop and the United Nations’ Sustainable Development Goals (SDGs) are realised, demand for energy will increase as more peopl ...
Wednesday, 11 January 17
MARKET INSIGHT - GEORGE DERMATIS
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Tuesday, 10 January 17
SHIPPING MARKET 2017
After having entered into a New Year, fresh hopes seem to be high for this to be the turning point in the market that many have been looking forwar ...
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- Gujarat Electricity Regulatory Commission - India
- Medco Energi Mining Internasional
- Independent Power Producers Association of India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Anglo American - United Kingdom
- Krishnapatnam Port Company Ltd. - India
- Pendopo Energi Batubara - Indonesia
- Meenaskhi Energy Private Limited - India
- CNBM International Corporation - China
- Videocon Industries ltd - India
- Maharashtra Electricity Regulatory Commission - India
- PetroVietnam Power Coal Import and Supply Company
- White Energy Company Limited
- Larsen & Toubro Limited - India
- Maheswari Brothers Coal Limited - India
- Orica Mining Services - Indonesia
- Bhushan Steel Limited - India
- Planning Commission, India
- Bukit Makmur.PT - Indonesia
- ICICI Bank Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Ministry of Mines - Canada
- Jindal Steel & Power Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Bangladesh Power Developement Board
- Latin American Coal - Colombia
- Indian Energy Exchange, India
- Karaikal Port Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Karbindo Abesyapradhi - Indoneisa
- TNB Fuel Sdn Bhd - Malaysia
- Uttam Galva Steels Limited - India
- Trasteel International SA, Italy
- Semirara Mining and Power Corporation, Philippines
- Orica Australia Pty. Ltd.
- Posco Energy - South Korea
- Heidelberg Cement - Germany
- Sindya Power Generating Company Private Ltd
- Riau Bara Harum - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Wood Mackenzie - Singapore
- The University of Queensland
- Jorong Barutama Greston.PT - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Baramulti Group, Indonesia
- Altura Mining Limited, Indonesia
- Alfred C Toepfer International GmbH - Germany
- Central Java Power - Indonesia
- Indika Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Wilmar Investment Holdings
- Parry Sugars Refinery, India
- Directorate Of Revenue Intelligence - India
- Indogreen Group - Indonesia
- Salva Resources Pvt Ltd - India
- Mercuria Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- OPG Power Generation Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Makarim & Taira - Indonesia
- Tata Chemicals Ltd - India
- Ministry of Transport, Egypt
- Barasentosa Lestari - Indonesia
- Sical Logistics Limited - India
- Eastern Energy - Thailand
- Electricity Generating Authority of Thailand
- Kartika Selabumi Mining - Indonesia
- Globalindo Alam Lestari - Indonesia
- Bhoruka Overseas - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Renaissance Capital - South Africa
- Bank of Tokyo Mitsubishi UFJ Ltd
- MS Steel International - UAE
- Neyveli Lignite Corporation Ltd, - India
- Banpu Public Company Limited - Thailand
- Antam Resourcindo - Indonesia
- Marubeni Corporation - India
- Minerals Council of Australia
- Borneo Indobara - Indonesia
- Oldendorff Carriers - Singapore
- Bayan Resources Tbk. - Indonesia
- Intertek Mineral Services - Indonesia
- LBH Netherlands Bv - Netherlands
- Pipit Mutiara Jaya. PT, Indonesia
- GAC Shipping (India) Pvt Ltd
- TeaM Sual Corporation - Philippines
- Billiton Holdings Pty Ltd - Australia
- Australian Coal Association
- Goldman Sachs - Singapore
- Thai Mozambique Logistica
- Ministry of Finance - Indonesia
- Energy Development Corp, Philippines
- Meralco Power Generation, Philippines
- GMR Energy Limited - India
- Australian Commodity Traders Exchange
- European Bulk Services B.V. - Netherlands
- Jaiprakash Power Ventures ltd
- Electricity Authority, New Zealand
- SMG Consultants - Indonesia
- McConnell Dowell - Australia
- Star Paper Mills Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Thiess Contractors Indonesia
- Essar Steel Hazira Ltd - India
- Chamber of Mines of South Africa
- Bhatia International Limited - India
- Mercator Lines Limited - India
- Chettinad Cement Corporation Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Indo Tambangraya Megah - Indonesia
- Tamil Nadu electricity Board
- Therma Luzon, Inc, Philippines
- Bulk Trading Sa - Switzerland
- Agrawal Coal Company - India
- IEA Clean Coal Centre - UK
- AsiaOL BioFuels Corp., Philippines
- Parliament of New Zealand
- Economic Council, Georgia
- Timah Investasi Mineral - Indoneisa
- Central Electricity Authority - India
- Kepco SPC Power Corporation, Philippines
- Sakthi Sugars Limited - India
- Leighton Contractors Pty Ltd - Australia
- Iligan Light & Power Inc, Philippines
- Mintek Dendrill Indonesia
- South Luzon Thermal Energy Corporation
- Georgia Ports Authority, United States
- Africa Commodities Group - South Africa
- Petron Corporation, Philippines
- Mjunction Services Limited - India
- Aboitiz Power Corporation - Philippines
- Grasim Industreis Ltd - India
- VISA Power Limited - India
- Sojitz Corporation - Japan
- Ceylon Electricity Board - Sri Lanka
- Commonwealth Bank - Australia
- Madhucon Powers Ltd - India
- London Commodity Brokers - England
- Xindia Steels Limited - India
- Power Finance Corporation Ltd., India
- Energy Link Ltd, New Zealand
- Attock Cement Pakistan Limited
- Romanian Commodities Exchange
- Singapore Mercantile Exchange
- PTC India Limited - India
- Standard Chartered Bank - UAE
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Rashtriya Ispat Nigam Limited - India
- Toyota Tsusho Corporation, Japan
- Bharathi Cement Corporation - India
- Bukit Asam (Persero) Tbk - Indonesia
- IHS Mccloskey Coal Group - USA
- Kumho Petrochemical, South Korea
- Lanco Infratech Ltd - India
- Kideco Jaya Agung - Indonesia
- ASAPP Information Group - India
- Interocean Group of Companies - India
- Carbofer General Trading SA - India
- Directorate General of MIneral and Coal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Ambuja Cements Ltd - India
- GVK Power & Infra Limited - India
- Cement Manufacturers Association - India
- Vizag Seaport Private Limited - India
- Deloitte Consulting - India
- Coal and Oil Company - UAE
- Edison Trading Spa - Italy
- Global Business Power Corporation, Philippines
- Aditya Birla Group - India
- India Bulls Power Limited - India
- Sarangani Energy Corporation, Philippines
- Coalindo Energy - Indonesia
- Merrill Lynch Commodities Europe
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Dalmia Cement Bharat India
- CIMB Investment Bank - Malaysia
- New Zealand Coal & Carbon
- Coastal Gujarat Power Limited - India
- Metalloyd Limited - United Kingdom
- Siam City Cement - Thailand
- Cigading International Bulk Terminal - Indonesia
- Gujarat Sidhee Cement - India
- Indian Oil Corporation Limited
- Simpson Spence & Young - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Sree Jayajothi Cements Limited - India
- Eastern Coal Council - USA
- PowerSource Philippines DevCo
- Savvy Resources Ltd - HongKong
- Offshore Bulk Terminal Pte Ltd, Singapore
- Vedanta Resources Plc - India
- Bukit Baiduri Energy - Indonesia
- Semirara Mining Corp, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Kaltim Prima Coal - Indonesia
- Price Waterhouse Coopers - Russia
- The State Trading Corporation of India Ltd
- Samtan Co., Ltd - South Korea
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Rio Tinto Coal - Australia
- Ind-Barath Power Infra Limited - India
- International Coal Ventures Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Port Waratah Coal Services - Australia
- PNOC Exploration Corporation - Philippines
- Sinarmas Energy and Mining - Indonesia
- SN Aboitiz Power Inc, Philippines
- Kobexindo Tractors - Indoneisa
- The Treasury - Australian Government
- Indonesian Coal Mining Association
- Malabar Cements Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Formosa Plastics Group - Taiwan
- SMC Global Power, Philippines
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