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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, 10 November 16
PANAMAX: NO TRUMP INFLUENCE YET, AND THE MARKET IS HEADING NORTH - FEARNLEYS
Supramax
Pacific Supra market still soft and falling this week, although seems to be in a somewhat slower pace compared to last week. According t ...
Wednesday, 09 November 16
SINGAPORE'S SGX COMPLETES ACQUISITION OF LONDON'S BALTIC EXCHANGE
COALspot.com: Singapore Exchange Limited and The Baltic Exchange Limited together announced that the acquisition of the Baltic Exchange by SGX has ...
Wednesday, 09 November 16
SUPRAMAX: 50% INCREASE ON AVERAGE SINCE THE FIRST QUARTER OF THE YEAR - GIANNIS ANDRITSOPOULOS
Last week was an interesting one for the tanker market, which following the explosion of the gas pipeline in Alabama witnessed a spike in Atlantic ...
Tuesday, 08 November 16
S.KOREA'S KOMIPO ISSUES TENDER TO BUY 390K TONS OF BITUMINOUS COAL FOR JAN-FEB 2017
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued a new tender for 390,000 Metric Tons of Bituminous Coal for its B ...
Monday, 07 November 16
INDONESIAN COAL PRICE REFERENCE ROSE 59.57 PER CENT YEAR TO MONTH
COALspot.com: The Indonesia coal benchmark price hits to its highest level since May 2013. The government declared benchmark prices for Indo ...
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- Madhucon Powers Ltd - India
- The State Trading Corporation of India Ltd
- Electricity Authority, New Zealand
- Wood Mackenzie - Singapore
- Xindia Steels Limited - India
- Kaltim Prima Coal - Indonesia
- Mercuria Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Indian Oil Corporation Limited
- Jindal Steel & Power Ltd - India
- Independent Power Producers Association of India
- TeaM Sual Corporation - Philippines
- Petron Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Maheswari Brothers Coal Limited - India
- Interocean Group of Companies - India
- Globalindo Alam Lestari - Indonesia
- Attock Cement Pakistan Limited
- ASAPP Information Group - India
- Orica Mining Services - Indonesia
- McConnell Dowell - Australia
- Therma Luzon, Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- Makarim & Taira - Indonesia
- Rio Tinto Coal - Australia
- Lanco Infratech Ltd - India
- Indika Energy - Indonesia
- Central Electricity Authority - India
- Kobexindo Tractors - Indoneisa
- Neyveli Lignite Corporation Ltd, - India
- White Energy Company Limited
- Timah Investasi Mineral - Indoneisa
- Simpson Spence & Young - Indonesia
- Semirara Mining Corp, Philippines
- Manunggal Multi Energi - Indonesia
- Siam City Cement PLC, Thailand
- Samtan Co., Ltd - South Korea
- The Treasury - Australian Government
- Ministry of Mines - Canada
- Indo Tambangraya Megah - Indonesia
- Thai Mozambique Logistica
- Sindya Power Generating Company Private Ltd
- Global Green Power PLC Corporation, Philippines
- Power Finance Corporation Ltd., India
- Uttam Galva Steels Limited - India
- Sojitz Corporation - Japan
- San Jose City I Power Corp, Philippines
- Carbofer General Trading SA - India
- Rashtriya Ispat Nigam Limited - India
- OPG Power Generation Pvt Ltd - India
- Chamber of Mines of South Africa
- Dalmia Cement Bharat India
- Global Business Power Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Kalimantan Lumbung Energi - Indonesia
- GVK Power & Infra Limited - India
- The University of Queensland
- Energy Development Corp, Philippines
- Barasentosa Lestari - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Mjunction Services Limited - India
- Iligan Light & Power Inc, Philippines
- Sical Logistics Limited - India
- Oldendorff Carriers - Singapore
- New Zealand Coal & Carbon
- Baramulti Group, Indonesia
- Aboitiz Power Corporation - Philippines
- Tamil Nadu electricity Board
- Malabar Cements Ltd - India
- SN Aboitiz Power Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Standard Chartered Bank - UAE
- Australian Commodity Traders Exchange
- International Coal Ventures Pvt Ltd - India
- Parliament of New Zealand
- LBH Netherlands Bv - Netherlands
- Agrawal Coal Company - India
- Electricity Generating Authority of Thailand
- CNBM International Corporation - China
- Coalindo Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Renaissance Capital - South Africa
- Antam Resourcindo - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- India Bulls Power Limited - India
- Ambuja Cements Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- London Commodity Brokers - England
- SMC Global Power, Philippines
- Orica Australia Pty. Ltd.
- Karaikal Port Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Gujarat Electricity Regulatory Commission - India
- European Bulk Services B.V. - Netherlands
- Ind-Barath Power Infra Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Siam City Cement - Thailand
- Sakthi Sugars Limited - India
- IEA Clean Coal Centre - UK
- Indonesian Coal Mining Association
- Wilmar Investment Holdings
- PowerSource Philippines DevCo
- Georgia Ports Authority, United States
- Riau Bara Harum - Indonesia
- Eastern Energy - Thailand
- Bangladesh Power Developement Board
- Formosa Plastics Group - Taiwan
- Indogreen Group - Indonesia
- Africa Commodities Group - South Africa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vedanta Resources Plc - India
- Indian Energy Exchange, India
- Maharashtra Electricity Regulatory Commission - India
- Leighton Contractors Pty Ltd - Australia
- ICICI Bank Limited - India
- Cement Manufacturers Association - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Essar Steel Hazira Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Metalloyd Limited - United Kingdom
- Price Waterhouse Coopers - Russia
- Coal and Oil Company - UAE
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Merrill Lynch Commodities Europe
- Bulk Trading Sa - Switzerland
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Minerals Council of Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Parry Sugars Refinery, India
- Pendopo Energi Batubara - Indonesia
- Heidelberg Cement - Germany
- Ceylon Electricity Board - Sri Lanka
- Mercator Lines Limited - India
- Australian Coal Association
- Billiton Holdings Pty Ltd - Australia
- Kepco SPC Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- MS Steel International - UAE
- Chettinad Cement Corporation Ltd - India
- Meralco Power Generation, Philippines
- Videocon Industries ltd - India
- Medco Energi Mining Internasional
- Aditya Birla Group - India
- South Luzon Thermal Energy Corporation
- Directorate General of MIneral and Coal - Indonesia
- Bhushan Steel Limited - India
- Bayan Resources Tbk. - Indonesia
- Goldman Sachs - Singapore
- Kideco Jaya Agung - Indonesia
- Singapore Mercantile Exchange
- Economic Council, Georgia
- Jorong Barutama Greston.PT - Indonesia
- Bukit Makmur.PT - Indonesia
- Bhoruka Overseas - Indonesia
- Bharathi Cement Corporation - India
- Planning Commission, India
- Intertek Mineral Services - Indonesia
- PTC India Limited - India
- Larsen & Toubro Limited - India
- Commonwealth Bank - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Latin American Coal - Colombia
- VISA Power Limited - India
- PNOC Exploration Corporation - Philippines
- Global Coal Blending Company Limited - Australia
- Central Java Power - Indonesia
- Straits Asia Resources Limited - Singapore
- Tata Chemicals Ltd - India
- Eastern Coal Council - USA
- Gujarat Sidhee Cement - India
- Alfred C Toepfer International GmbH - Germany
- Borneo Indobara - Indonesia
- Marubeni Corporation - India
- Bukit Baiduri Energy - Indonesia
- GMR Energy Limited - India
- Savvy Resources Ltd - HongKong
- Kumho Petrochemical, South Korea
- Trasteel International SA, Italy
- Directorate Of Revenue Intelligence - India
- Salva Resources Pvt Ltd - India
- Ministry of Transport, Egypt
- Thiess Contractors Indonesia
- Toyota Tsusho Corporation, Japan
- Sree Jayajothi Cements Limited - India
- Grasim Industreis Ltd - India
- Energy Link Ltd, New Zealand
- Edison Trading Spa - Italy
- Kartika Selabumi Mining - Indonesia
- Banpu Public Company Limited - Thailand
- IHS Mccloskey Coal Group - USA
- GN Power Mariveles Coal Plant, Philippines
- Coastal Gujarat Power Limited - India
- Posco Energy - South Korea
- CIMB Investment Bank - Malaysia
- Ministry of Finance - Indonesia
- Deloitte Consulting - India
- Romanian Commodities Exchange
- Holcim Trading Pte Ltd - Singapore
- GAC Shipping (India) Pvt Ltd
- Vizag Seaport Private Limited - India
- Meenaskhi Energy Private Limited - India
- SMG Consultants - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Binh Thuan Hamico - Vietnam
- Star Paper Mills Limited - India
- Port Waratah Coal Services - Australia
- Sarangani Energy Corporation, Philippines
- Bhatia International Limited - India
- Anglo American - United Kingdom
- Mintek Dendrill Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Semirara Mining and Power Corporation, Philippines
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