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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, 01 December 16
OIL PRICES MAY SEE LITTLE GROWTH BEFORE 2018, FITCH RATINGS SAYS
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Thursday, 01 December 16
CHINA 2017 OIL, GAS OUTPUT DROP MAY WORSEN ON CAPEX CUT: FITCH
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Tuesday, 29 November 16
AUSTRALIA'S PORT OF NEWCASTLE SHIPPED 13.08 MT OF COAL IN OCTOBER; DOWN 10.39% M/M
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export port has shipped $AU1,124.7 Mi ...
Tuesday, 29 November 16
US WEEKLY COAL OUTPUT TOTALS 17.2 MMST, UP 2.8% : EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 17.2 million short ton ...
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- IEA Clean Coal Centre - UK
- Electricity Generating Authority of Thailand
- Kumho Petrochemical, South Korea
- Chettinad Cement Corporation Ltd - India
- Ministry of Mines - Canada
- Central Electricity Authority - India
- Videocon Industries ltd - India
- CNBM International Corporation - China
- Iligan Light & Power Inc, Philippines
- ICICI Bank Limited - India
- Global Business Power Corporation, Philippines
- Indian Oil Corporation Limited
- GMR Energy Limited - India
- Deloitte Consulting - India
- Jorong Barutama Greston.PT - Indonesia
- International Coal Ventures Pvt Ltd - India
- Madhucon Powers Ltd - India
- Semirara Mining Corp, Philippines
- Kapuas Tunggal Persada - Indonesia
- McConnell Dowell - Australia
- Dalmia Cement Bharat India
- Central Java Power - Indonesia
- Baramulti Group, Indonesia
- Timah Investasi Mineral - Indoneisa
- The University of Queensland
- Mjunction Services Limited - India
- Rashtriya Ispat Nigam Limited - India
- Savvy Resources Ltd - HongKong
- Siam City Cement - Thailand
- Maharashtra Electricity Regulatory Commission - India
- Rio Tinto Coal - Australia
- Riau Bara Harum - Indonesia
- Eastern Energy - Thailand
- Port Waratah Coal Services - Australia
- San Jose City I Power Corp, Philippines
- Metalloyd Limited - United Kingdom
- Australian Coal Association
- Aboitiz Power Corporation - Philippines
- Mercator Lines Limited - India
- Binh Thuan Hamico - Vietnam
- Bangladesh Power Developement Board
- Barasentosa Lestari - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Ambuja Cements Ltd - India
- Borneo Indobara - Indonesia
- Maheswari Brothers Coal Limited - India
- Cement Manufacturers Association - India
- Ceylon Electricity Board - Sri Lanka
- SMC Global Power, Philippines
- Kobexindo Tractors - Indoneisa
- Kaltim Prima Coal - Indonesia
- Ministry of Transport, Egypt
- Mercuria Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Grasim Industreis Ltd - India
- Indika Energy - Indonesia
- The State Trading Corporation of India Ltd
- Sarangani Energy Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Indo Tambangraya Megah - Indonesia
- Agrawal Coal Company - India
- Bukit Makmur.PT - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Larsen & Toubro Limited - India
- Uttam Galva Steels Limited - India
- Kartika Selabumi Mining - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Makarim & Taira - Indonesia
- The Treasury - Australian Government
- Georgia Ports Authority, United States
- Formosa Plastics Group - Taiwan
- Globalindo Alam Lestari - Indonesia
- VISA Power Limited - India
- Commonwealth Bank - Australia
- Coalindo Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Directorate Of Revenue Intelligence - India
- Economic Council, Georgia
- Electricity Authority, New Zealand
- Banpu Public Company Limited - Thailand
- Latin American Coal - Colombia
- Bhoruka Overseas - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Marubeni Corporation - India
- Sakthi Sugars Limited - India
- Neyveli Lignite Corporation Ltd, - India
- AsiaOL BioFuels Corp., Philippines
- Orica Mining Services - Indonesia
- Price Waterhouse Coopers - Russia
- Africa Commodities Group - South Africa
- Mintek Dendrill Indonesia
- Siam City Cement PLC, Thailand
- Krishnapatnam Port Company Ltd. - India
- Indonesian Coal Mining Association
- Toyota Tsusho Corporation, Japan
- Bukit Asam (Persero) Tbk - Indonesia
- Oldendorff Carriers - Singapore
- OPG Power Generation Pvt Ltd - India
- India Bulls Power Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sinarmas Energy and Mining - Indonesia
- Independent Power Producers Association of India
- Trasteel International SA, Italy
- GVK Power & Infra Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Posco Energy - South Korea
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Vizag Seaport Private Limited - India
- Coal and Oil Company - UAE
- Holcim Trading Pte Ltd - Singapore
- Sindya Power Generating Company Private Ltd
- Indogreen Group - Indonesia
- Salva Resources Pvt Ltd - India
- Meralco Power Generation, Philippines
- Medco Energi Mining Internasional
- Energy Development Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Jaiprakash Power Ventures ltd
- Asmin Koalindo Tuhup - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Lanco Infratech Ltd - India
- Interocean Group of Companies - India
- Standard Chartered Bank - UAE
- Anglo American - United Kingdom
- Essar Steel Hazira Ltd - India
- Thai Mozambique Logistica
- Thiess Contractors Indonesia
- TeaM Sual Corporation - Philippines
- PTC India Limited - India
- Aditya Birla Group - India
- Singapore Mercantile Exchange
- Indian Energy Exchange, India
- Parry Sugars Refinery, India
- Bukit Baiduri Energy - Indonesia
- Tamil Nadu electricity Board
- New Zealand Coal & Carbon
- Billiton Holdings Pty Ltd - Australia
- Global Green Power PLC Corporation, Philippines
- Energy Link Ltd, New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sojitz Corporation - Japan
- White Energy Company Limited
- Carbofer General Trading SA - India
- London Commodity Brokers - England
- Bharathi Cement Corporation - India
- Samtan Co., Ltd - South Korea
- Bhatia International Limited - India
- Eastern Coal Council - USA
- Kepco SPC Power Corporation, Philippines
- Planning Commission, India
- Pendopo Energi Batubara - Indonesia
- Bulk Trading Sa - Switzerland
- Merrill Lynch Commodities Europe
- Attock Cement Pakistan Limited
- Bank of Tokyo Mitsubishi UFJ Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- European Bulk Services B.V. - Netherlands
- PowerSource Philippines DevCo
- Romanian Commodities Exchange
- Karbindo Abesyapradhi - Indoneisa
- Global Coal Blending Company Limited - Australia
- South Luzon Thermal Energy Corporation
- Edison Trading Spa - Italy
- Miang Besar Coal Terminal - Indonesia
- LBH Netherlands Bv - Netherlands
- GAC Shipping (India) Pvt Ltd
- SN Aboitiz Power Inc, Philippines
- PNOC Exploration Corporation - Philippines
- Bhushan Steel Limited - India
- Wood Mackenzie - Singapore
- Tata Chemicals Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Heidelberg Cement - Germany
- Coastal Gujarat Power Limited - India
- Karaikal Port Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- PetroVietnam Power Coal Import and Supply Company
- Pipit Mutiara Jaya. PT, Indonesia
- Sree Jayajothi Cements Limited - India
- ASAPP Information Group - India
- Ind-Barath Power Infra Limited - India
- SMG Consultants - Indonesia
- Minerals Council of Australia
- Sical Logistics Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Australian Commodity Traders Exchange
- Jindal Steel & Power Ltd - India
- Renaissance Capital - South Africa
- CIMB Investment Bank - Malaysia
- Kideco Jaya Agung - Indonesia
- Bayan Resources Tbk. - Indonesia
- Simpson Spence & Young - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Power Finance Corporation Ltd., India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Goldman Sachs - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Orica Australia Pty. Ltd.
- Intertek Mineral Services - Indonesia
- Star Paper Mills Limited - India
- Manunggal Multi Energi - Indonesia
- Altura Mining Limited, Indonesia
- Petron Corporation, Philippines
- Chamber of Mines of South Africa
- Ministry of Finance - Indonesia
- Antam Resourcindo - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Wilmar Investment Holdings
- Parliament of New Zealand
- Malabar Cements Ltd - India
- Vedanta Resources Plc - India
- Gujarat Sidhee Cement - India
- Leighton Contractors Pty Ltd - Australia
- Xindia Steels Limited - India
- MS Steel International - UAE
- Alfred C Toepfer International GmbH - Germany
- Straits Asia Resources Limited - Singapore
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