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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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Thursday, 05 January 17
CAPE MARKET HAVE KEPT SURPRISINGLY FIRM AND ACTIVE DURING THE CHRISTMAS AND NEW YEAR HOLIDAYS - FEARNLEYS
Supramax
The first week after a slow Christmas break has started off with little activity and softening rates. Not surprisingly, the market is fi ...
Thursday, 05 January 17
COMPARISON OF HONG KONG AND LONDON ARBITRATION - SKULD
KNOWLEDGE TO ELEVATE
Whilst London arbitration is the most popular platform for resolution of charterparty disputes, where the parties involved a ...
Wednesday, 04 January 17
INDONESIA'S COAL PRODUCTION IS ESTIMATED TO REACH 434 MILLION TONS IN 2016 EXCEEDED THE GOVERNMENT'S INITIAL TARGET
Indonesia's coal production is estimated to reach 434 million tons in 2016 exceeded the government's initial target. The Ministry of Energy ...
Tuesday, 03 January 17
BENGKULU TO IMPOSE TOUGHER REGULATION FOR UNPROCESSED COAL AND MINERALS EXPORTS IN 2017 - MEDIA
Bengkulu provincial government is planning to impose tougher regulation for export of coal and mineral in 2017. According to liputan6 online portal ...
Monday, 02 January 17
PORT OF NEWCASTLE SHIPPED 13.62 MMT OF COAL IN NOVEMBER; UP 4.18% M/M
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export port has shipped $AU 1,201 Mil ...
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- Merrill Lynch Commodities Europe
- Mercator Lines Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Ministry of Transport, Egypt
- Sakthi Sugars Limited - India
- Bharathi Cement Corporation - India
- Oldendorff Carriers - Singapore
- The University of Queensland
- The Treasury - Australian Government
- Bhoruka Overseas - Indonesia
- Bangladesh Power Developement Board
- IEA Clean Coal Centre - UK
- Pipit Mutiara Jaya. PT, Indonesia
- Interocean Group of Companies - India
- Edison Trading Spa - Italy
- Xindia Steels Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Siam City Cement PLC, Thailand
- Anglo American - United Kingdom
- Chettinad Cement Corporation Ltd - India
- Romanian Commodities Exchange
- Borneo Indobara - Indonesia
- Sarangani Energy Corporation, Philippines
- Australian Coal Association
- SMC Global Power, Philippines
- Savvy Resources Ltd - HongKong
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Central Electricity Authority - India
- PTC India Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Pendopo Energi Batubara - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Ind-Barath Power Infra Limited - India
- White Energy Company Limited
- Globalindo Alam Lestari - Indonesia
- Banpu Public Company Limited - Thailand
- Star Paper Mills Limited - India
- ASAPP Information Group - India
- Sree Jayajothi Cements Limited - India
- New Zealand Coal & Carbon
- Bahari Cakrawala Sebuku - Indonesia
- Samtan Co., Ltd - South Korea
- Mintek Dendrill Indonesia
- Kapuas Tunggal Persada - Indonesia
- GAC Shipping (India) Pvt Ltd
- Simpson Spence & Young - Indonesia
- The State Trading Corporation of India Ltd
- PNOC Exploration Corporation - Philippines
- Economic Council, Georgia
- Orica Mining Services - Indonesia
- Kobexindo Tractors - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- Mercuria Energy - Indonesia
- Thiess Contractors Indonesia
- Attock Cement Pakistan Limited
- Indian Energy Exchange, India
- Aditya Birla Group - India
- ICICI Bank Limited - India
- Commonwealth Bank - Australia
- Parliament of New Zealand
- Central Java Power - Indonesia
- Barasentosa Lestari - Indonesia
- Binh Thuan Hamico - Vietnam
- Maheswari Brothers Coal Limited - India
- Standard Chartered Bank - UAE
- Semirara Mining and Power Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Directorate Of Revenue Intelligence - India
- Jindal Steel & Power Ltd - India
- Heidelberg Cement - Germany
- Medco Energi Mining Internasional
- Wilmar Investment Holdings
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Bukit Makmur.PT - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Cigading International Bulk Terminal - Indonesia
- Ministry of Finance - Indonesia
- Sindya Power Generating Company Private Ltd
- Goldman Sachs - Singapore
- Vizag Seaport Private Limited - India
- Lanco Infratech Ltd - India
- Grasim Industreis Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Ambuja Cements Ltd - India
- Deloitte Consulting - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Carbofer General Trading SA - India
- Holcim Trading Pte Ltd - Singapore
- London Commodity Brokers - England
- Price Waterhouse Coopers - Russia
- CIMB Investment Bank - Malaysia
- Eastern Energy - Thailand
- Metalloyd Limited - United Kingdom
- Jaiprakash Power Ventures ltd
- Bhushan Steel Limited - India
- Videocon Industries ltd - India
- Sojitz Corporation - Japan
- Orica Australia Pty. Ltd.
- International Coal Ventures Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Kaltim Prima Coal - Indonesia
- Minerals Council of Australia
- Manunggal Multi Energi - Indonesia
- Parry Sugars Refinery, India
- Salva Resources Pvt Ltd - India
- Kumho Petrochemical, South Korea
- San Jose City I Power Corp, Philippines
- Latin American Coal - Colombia
- European Bulk Services B.V. - Netherlands
- Timah Investasi Mineral - Indoneisa
- Power Finance Corporation Ltd., India
- Mjunction Services Limited - India
- Georgia Ports Authority, United States
- Electricity Authority, New Zealand
- Vedanta Resources Plc - India
- VISA Power Limited - India
- Ministry of Mines - Canada
- CNBM International Corporation - China
- Bukit Baiduri Energy - Indonesia
- Riau Bara Harum - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- Australian Commodity Traders Exchange
- Semirara Mining Corp, Philippines
- Larsen & Toubro Limited - India
- Karbindo Abesyapradhi - Indoneisa
- IHS Mccloskey Coal Group - USA
- Agrawal Coal Company - India
- Global Green Power PLC Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Port Waratah Coal Services - Australia
- SMG Consultants - Indonesia
- Essar Steel Hazira Ltd - India
- McConnell Dowell - Australia
- Indonesian Coal Mining Association
- Thai Mozambique Logistica
- Karaikal Port Pvt Ltd - India
- Petron Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Bhatia International Limited - India
- Intertek Mineral Services - Indonesia
- Posco Energy - South Korea
- Eastern Coal Council - USA
- Singapore Mercantile Exchange
- Energy Link Ltd, New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- Kalimantan Lumbung Energi - Indonesia
- Wood Mackenzie - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kideco Jaya Agung - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indo Tambangraya Megah - Indonesia
- Indogreen Group - Indonesia
- Therma Luzon, Inc, Philippines
- Gujarat Sidhee Cement - India
- Antam Resourcindo - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- OPG Power Generation Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Maharashtra Electricity Regulatory Commission - India
- Uttam Galva Steels Limited - India
- Madhucon Powers Ltd - India
- Chamber of Mines of South Africa
- Iligan Light & Power Inc, Philippines
- Indian Oil Corporation Limited
- Rio Tinto Coal - Australia
- MS Steel International - UAE
- Gujarat Mineral Development Corp Ltd - India
- Coastal Gujarat Power Limited - India
- Indika Energy - Indonesia
- Tata Chemicals Ltd - India
- Planning Commission, India
- Vijayanagar Sugar Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Trasteel International SA, Italy
- GVK Power & Infra Limited - India
- Sical Logistics Limited - India
- Coal and Oil Company - UAE
- Marubeni Corporation - India
- Alfred C Toepfer International GmbH - Germany
- Dalmia Cement Bharat India
- Meenaskhi Energy Private Limited - India
- Global Business Power Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Asmin Koalindo Tuhup - Indonesia
- Africa Commodities Group - South Africa
- Bayan Resources Tbk. - Indonesia
- Baramulti Group, Indonesia
- Formosa Plastics Group - Taiwan
- Malabar Cements Ltd - India
- Toyota Tsusho Corporation, Japan
- TNB Fuel Sdn Bhd - Malaysia
- Coalindo Energy - Indonesia
- Cement Manufacturers Association - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Siam City Cement - Thailand
- TeaM Sual Corporation - Philippines
- Energy Development Corp, Philippines
- Kepco SPC Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- India Bulls Power Limited - India
- Tamil Nadu electricity Board
- Makarim & Taira - Indonesia
- Straits Asia Resources Limited - Singapore
- Meralco Power Generation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Altura Mining Limited, Indonesia
- Independent Power Producers Association of India
- GMR Energy Limited - India
- Kartika Selabumi Mining - Indonesia
- Renaissance Capital - South Africa
- PowerSource Philippines DevCo
- Ceylon Electricity Board - Sri Lanka
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