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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, 23 December 16
U.S. YEAR-TO-DATE COAL PRODUCTION TOTALED 711.1 MMST; DOWN 18.5% Y/Y - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 15.7 million short ton ...
Thursday, 22 December 16
INDONESIA LACK OF EXPORT TO INDIA THIS WEEK - FERNLEYS
Supramax
While the Atlantic is keeping up with rates, the Pacific has been weaker says Astrup Fernley.
According to Astrup Fernley, backhaul ...
Wednesday, 21 December 16
THE SUPREME COURT DECISION IN OW BUNKERS - WHEN A SALE OF GOODS IS NOT A SALE OF GOODS - LEON ALEXANDER, CLYDE&CO
KNOWLEDGE TO ELEVATE
In May 2016 the Supreme Court of England & Wales gave judgment in an OW Bunkers test case entitled "Res Cogitans ...
Wednesday, 21 December 16
CLEANING THE OCEANS FROM PLASTIC - SOPHIE COTZIAS
2016 is coming to a close and it finds us in preparation for the 2017 enforcement of the Ballast Water Treatment Systems. We naturally are in thoug ...
Tuesday, 20 December 16
TRADE HAS FELT ITS BUMPS AND SHAKES THIS YEAR - GEORGE LAZARIDIS
Trade has felt its bumps and shakes this year, as growing populist protectionist and nationalist movements in the Western world start to take hold. ...
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- Coal and Oil Company - UAE
- Bhushan Steel Limited - India
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- Renaissance Capital - South Africa
- Oldendorff Carriers - Singapore
- Sakthi Sugars Limited - India
- Central Electricity Authority - India
- Ministry of Mines - Canada
- CIMB Investment Bank - Malaysia
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- MS Steel International - UAE
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- Salva Resources Pvt Ltd - India
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- IEA Clean Coal Centre - UK
- Global Coal Blending Company Limited - Australia
- Merrill Lynch Commodities Europe
- Antam Resourcindo - Indonesia
- Alfred C Toepfer International GmbH - Germany
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- Electricity Generating Authority of Thailand
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- Indian Energy Exchange, India
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- Africa Commodities Group - South Africa
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- Singapore Mercantile Exchange
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- Wood Mackenzie - Singapore
- Binh Thuan Hamico - Vietnam
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- PTC India Limited - India
- Eastern Energy - Thailand
- Jorong Barutama Greston.PT - Indonesia
- CNBM International Corporation - China
- Savvy Resources Ltd - HongKong
- IHS Mccloskey Coal Group - USA
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- GVK Power & Infra Limited - India
- The University of Queensland
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- Sindya Power Generating Company Private Ltd
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- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indika Energy - Indonesia
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- Price Waterhouse Coopers - Russia
- Straits Asia Resources Limited - Singapore
- New Zealand Coal & Carbon
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- ASAPP Information Group - India
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- Global Business Power Corporation, Philippines
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- Romanian Commodities Exchange
- Sinarmas Energy and Mining - Indonesia
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- Kohat Cement Company Ltd. - Pakistan
- San Jose City I Power Corp, Philippines
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- Cement Manufacturers Association - India
- Jaiprakash Power Ventures ltd
- Petrochimia International Co. Ltd.- Taiwan
- Deloitte Consulting - India
- Parry Sugars Refinery, India
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- Standard Chartered Bank - UAE
- Thiess Contractors Indonesia
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- Indonesian Coal Mining Association
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- Orica Mining Services - Indonesia
- The Treasury - Australian Government
- Kumho Petrochemical, South Korea
- Uttam Galva Steels Limited - India
- Interocean Group of Companies - India
- Bulk Trading Sa - Switzerland
- Makarim & Taira - Indonesia
- ICICI Bank Limited - India
- Siam City Cement PLC, Thailand
- Indo Tambangraya Megah - Indonesia
- Central Java Power - Indonesia
- Ind-Barath Power Infra Limited - India
- White Energy Company Limited
- Carbofer General Trading SA - India
- Posco Energy - South Korea
- Anglo American - United Kingdom
- Ceylon Electricity Board - Sri Lanka
- Mercator Lines Limited - India
- Cigading International Bulk Terminal - Indonesia
- SMC Global Power, Philippines
- Manunggal Multi Energi - Indonesia
- Aditya Birla Group - India
- PowerSource Philippines DevCo
- McConnell Dowell - Australia
- Ambuja Cements Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Kartika Selabumi Mining - Indonesia
- International Coal Ventures Pvt Ltd - India
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- Medco Energi Mining Internasional
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- Bayan Resources Tbk. - Indonesia
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- Indian Oil Corporation Limited
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- Dr Ramakrishna Prasad Power Pvt Ltd - India
- SMG Consultants - Indonesia
- Mercuria Energy - Indonesia
- Sical Logistics Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Karbindo Abesyapradhi - Indoneisa
- TNB Fuel Sdn Bhd - Malaysia
- Semirara Mining and Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- Directorate General of MIneral and Coal - Indonesia
- Mintek Dendrill Indonesia
- Riau Bara Harum - Indonesia
- Energy Link Ltd, New Zealand
- Energy Development Corp, Philippines
- Sarangani Energy Corporation, Philippines
- Rio Tinto Coal - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Dalmia Cement Bharat India
- Goldman Sachs - Singapore
- Samtan Co., Ltd - South Korea
- Minerals Council of Australia
- Bangladesh Power Developement Board
- Formosa Plastics Group - Taiwan
- Independent Power Producers Association of India
- Rashtriya Ispat Nigam Limited - India
- London Commodity Brokers - England
- Pipit Mutiara Jaya. PT, Indonesia
- PNOC Exploration Corporation - Philippines
- Economic Council, Georgia
- India Bulls Power Limited - India
- Siam City Cement - Thailand
- Kepco SPC Power Corporation, Philippines
- Electricity Authority, New Zealand
- Vijayanagar Sugar Pvt Ltd - India
- Vedanta Resources Plc - India
- Edison Trading Spa - Italy
- Gujarat Sidhee Cement - India
- Commonwealth Bank - Australia
- Gujarat Electricity Regulatory Commission - India
- Attock Cement Pakistan Limited
- Parliament of New Zealand
- Intertek Mineral Services - Indonesia
- Chamber of Mines of South Africa
- Bukit Asam (Persero) Tbk - Indonesia
- Georgia Ports Authority, United States
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- Aboitiz Power Corporation - Philippines
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- Metalloyd Limited - United Kingdom
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