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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, 14 December 16
20/20 VISION! - JOHN N. COTZIAS
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Tuesday, 13 December 16
THE FREIGHT MARKET MAY WELL BE SHOWING SIGNS OF HEADING FOR ITS DOWNWARD CORRECTIVE PHASE - ALLIED
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Tuesday, 13 December 16
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Monday, 12 December 16
U.S. WEEKLY COAL PRODUCTION TOTALS 16.3 MMST, UP 7.4% - EIA
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COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities decline this past week and ending on a negative note week ...
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- Indonesian Coal Mining Association
- Carbofer General Trading SA - India
- Parliament of New Zealand
- Agrawal Coal Company - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Coalindo Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Anglo American - United Kingdom
- IEA Clean Coal Centre - UK
- Bukit Makmur.PT - Indonesia
- SMC Global Power, Philippines
- Edison Trading Spa - Italy
- Toyota Tsusho Corporation, Japan
- Global Green Power PLC Corporation, Philippines
- Madhucon Powers Ltd - India
- GAC Shipping (India) Pvt Ltd
- Sarangani Energy Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Planning Commission, India
- Sindya Power Generating Company Private Ltd
- Antam Resourcindo - Indonesia
- Therma Luzon, Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Miang Besar Coal Terminal - Indonesia
- PNOC Exploration Corporation - Philippines
- GN Power Mariveles Coal Plant, Philippines
- Goldman Sachs - Singapore
- Ambuja Cements Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Ceylon Electricity Board - Sri Lanka
- Sical Logistics Limited - India
- Tata Chemicals Ltd - India
- India Bulls Power Limited - India
- Kumho Petrochemical, South Korea
- GMR Energy Limited - India
- Latin American Coal - Colombia
- Tamil Nadu electricity Board
- Karbindo Abesyapradhi - Indoneisa
- Sojitz Corporation - Japan
- Karaikal Port Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Kalimantan Lumbung Energi - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Jindal Steel & Power Ltd - India
- Xindia Steels Limited - India
- VISA Power Limited - India
- Mercator Lines Limited - India
- McConnell Dowell - Australia
- Posco Energy - South Korea
- ASAPP Information Group - India
- Mercuria Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Indogreen Group - Indonesia
- Bhushan Steel Limited - India
- Kapuas Tunggal Persada - Indonesia
- Barasentosa Lestari - Indonesia
- Wilmar Investment Holdings
- Indian Energy Exchange, India
- AsiaOL BioFuels Corp., Philippines
- Manunggal Multi Energi - Indonesia
- Kartika Selabumi Mining - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Central Electricity Authority - India
- Australian Commodity Traders Exchange
- Bukit Asam (Persero) Tbk - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Alfred C Toepfer International GmbH - Germany
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Straits Asia Resources Limited - Singapore
- Chamber of Mines of South Africa
- Cement Manufacturers Association - India
- Central Java Power - Indonesia
- The Treasury - Australian Government
- Interocean Group of Companies - India
- Salva Resources Pvt Ltd - India
- Eastern Energy - Thailand
- ICICI Bank Limited - India
- Minerals Council of Australia
- Kaltim Prima Coal - Indonesia
- Jaiprakash Power Ventures ltd
- Simpson Spence & Young - Indonesia
- Energy Development Corp, Philippines
- Sinarmas Energy and Mining - Indonesia
- PowerSource Philippines DevCo
- Kohat Cement Company Ltd. - Pakistan
- New Zealand Coal & Carbon
- Wood Mackenzie - Singapore
- Indika Energy - Indonesia
- GVK Power & Infra Limited - India
- Petron Corporation, Philippines
- Electricity Authority, New Zealand
- Aditya Birla Group - India
- Semirara Mining and Power Corporation, Philippines
- Siam City Cement - Thailand
- Rashtriya Ispat Nigam Limited - India
- Maheswari Brothers Coal Limited - India
- Indo Tambangraya Megah - Indonesia
- White Energy Company Limited
- Indian Oil Corporation Limited
- South Luzon Thermal Energy Corporation
- PTC India Limited - India
- OPG Power Generation Pvt Ltd - India
- SMG Consultants - Indonesia
- Price Waterhouse Coopers - Russia
- Altura Mining Limited, Indonesia
- Metalloyd Limited - United Kingdom
- Pipit Mutiara Jaya. PT, Indonesia
- Siam City Cement PLC, Thailand
- Semirara Mining Corp, Philippines
- Coal and Oil Company - UAE
- Globalindo Alam Lestari - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Standard Chartered Bank - UAE
- The State Trading Corporation of India Ltd
- Kideco Jaya Agung - Indonesia
- Malabar Cements Ltd - India
- Ministry of Finance - Indonesia
- Attock Cement Pakistan Limited
- European Bulk Services B.V. - Netherlands
- The University of Queensland
- Georgia Ports Authority, United States
- Global Coal Blending Company Limited - Australia
- Iligan Light & Power Inc, Philippines
- Commonwealth Bank - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Intertek Mineral Services - Indonesia
- Merrill Lynch Commodities Europe
- TeaM Sual Corporation - Philippines
- Jorong Barutama Greston.PT - Indonesia
- Bharathi Cement Corporation - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Borneo Indobara - Indonesia
- Grasim Industreis Ltd - India
- Chettinad Cement Corporation Ltd - India
- Binh Thuan Hamico - Vietnam
- Petrochimia International Co. Ltd.- Taiwan
- Marubeni Corporation - India
- Rio Tinto Coal - Australia
- London Commodity Brokers - England
- LBH Netherlands Bv - Netherlands
- Bulk Trading Sa - Switzerland
- Africa Commodities Group - South Africa
- Banpu Public Company Limited - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Mintek Dendrill Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Kepco SPC Power Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Videocon Industries ltd - India
- Savvy Resources Ltd - HongKong
- Independent Power Producers Association of India
- Uttam Galva Steels Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Sakthi Sugars Limited - India
- Lanco Infratech Ltd - India
- Parry Sugars Refinery, India
- Vijayanagar Sugar Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Directorate Of Revenue Intelligence - India
- Orica Mining Services - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- CIMB Investment Bank - Malaysia
- Larsen & Toubro Limited - India
- Makarim & Taira - Indonesia
- Vedanta Resources Plc - India
- Oldendorff Carriers - Singapore
- Electricity Generating Authority of Thailand
- Economic Council, Georgia
- Deloitte Consulting - India
- Meralco Power Generation, Philippines
- Gujarat Sidhee Cement - India
- Ministry of Mines - Canada
- Romanian Commodities Exchange
- Energy Link Ltd, New Zealand
- Bhoruka Overseas - Indonesia
- Essar Steel Hazira Ltd - India
- Aboitiz Power Corporation - Philippines
- Ministry of Transport, Egypt
- Heidelberg Cement - Germany
- San Jose City I Power Corp, Philippines
- Bangladesh Power Developement Board
- Kobexindo Tractors - Indoneisa
- Baramulti Group, Indonesia
- MS Steel International - UAE
- Timah Investasi Mineral - Indoneisa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Thiess Contractors Indonesia
- Dalmia Cement Bharat India
- Sree Jayajothi Cements Limited - India
- Eastern Coal Council - USA
- Leighton Contractors Pty Ltd - Australia
- Power Finance Corporation Ltd., India
- Gujarat Electricity Regulatory Commission - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Cigading International Bulk Terminal - Indonesia
- Bhatia International Limited - India
- CNBM International Corporation - China
- Trasteel International SA, Italy
- Renaissance Capital - South Africa
- Global Business Power Corporation, Philippines
- Orica Australia Pty. Ltd.
- Pendopo Energi Batubara - Indonesia
- Port Waratah Coal Services - Australia
- Star Paper Mills Limited - India
- Thai Mozambique Logistica
- Medco Energi Mining Internasional
- Mjunction Services Limited - India
- Samtan Co., Ltd - South Korea
- Australian Coal Association
- Singapore Mercantile Exchange
- Vizag Seaport Private Limited - India
- Meenaskhi Energy Private Limited - India
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