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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, 03 November 16
CAPESIZE: BRAZIL/CHINA RATES MOVED TO THE $11 PMT LEVEL; WEST AUSTRALIA/CHINA ROUTE MOVED UP CLOSE TO MID $5 PMT LEVEL - FEARNLEYS
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In the Atlantic we see a bit more activity than in the eastern hemisphere, says Fearnleys in its latest weekly report. Fhauls via Black ...
Wednesday, 02 November 16
SHIPPING MARKET INSIGHT
A week before the U.S. presidential election, everyone is eager to see the socio-political effects that the result of these elections will have. As ...
Wednesday, 02 November 16
SHIP OPERATING COSTS ARE EXPECTED TO RISE IN BOTH 2016 AND 2017 - MOORE STEPHENS
Vessel operating costs are expected to rise in both 2016 and 2017. Repairs and maintenance and spares are the cost categories which are likely to i ...
Tuesday, 01 November 16
PANAMAX : A FAIR AMOUNT OF SIDEWAYS SHIPPING IN RATES - ALLIED SHIPPING
Capesize
A very sluggish start to the week, with rates dropping considerably as all optimism seems to have evaporated over the weekend. According ...
Tuesday, 01 November 16
IMPROVEMENT ON THE DEMAND SIDE ONLY BUT THE SUPPLY SIDE IS WORSE OFF - BIMCO
Back in May, BIMCO disclosed a projected “road to recovery” for the dry bulk shipping industry. The main message back then on what the ...
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- Aditya Birla Group - India
- Leighton Contractors Pty Ltd - Australia
- Essar Steel Hazira Ltd - India
- Salva Resources Pvt Ltd - India
- Tata Chemicals Ltd - India
- The State Trading Corporation of India Ltd
- Semirara Mining and Power Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Marubeni Corporation - India
- Meralco Power Generation, Philippines
- Posco Energy - South Korea
- Indonesian Coal Mining Association
- Central Electricity Authority - India
- Gujarat Sidhee Cement - India
- Kepco SPC Power Corporation, Philippines
- Standard Chartered Bank - UAE
- Siam City Cement PLC, Thailand
- CIMB Investment Bank - Malaysia
- TeaM Sual Corporation - Philippines
- Kapuas Tunggal Persada - Indonesia
- Independent Power Producers Association of India
- PTC India Limited - India
- Georgia Ports Authority, United States
- Kohat Cement Company Ltd. - Pakistan
- ICICI Bank Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Price Waterhouse Coopers - Russia
- Power Finance Corporation Ltd., India
- Xindia Steels Limited - India
- Globalindo Alam Lestari - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Kobexindo Tractors - Indoneisa
- Mercuria Energy - Indonesia
- Kumho Petrochemical, South Korea
- Rio Tinto Coal - Australia
- Central Java Power - Indonesia
- Bulk Trading Sa - Switzerland
- Petrochimia International Co. Ltd.- Taiwan
- Singapore Mercantile Exchange
- Port Waratah Coal Services - Australia
- Borneo Indobara - Indonesia
- Gujarat Electricity Regulatory Commission - India
- McConnell Dowell - Australia
- Commonwealth Bank - Australia
- Lanco Infratech Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Grasim Industreis Ltd - India
- Kideco Jaya Agung - Indonesia
- GAC Shipping (India) Pvt Ltd
- MS Steel International - UAE
- Heidelberg Cement - Germany
- Indian Oil Corporation Limited
- Interocean Group of Companies - India
- Bhushan Steel Limited - India
- Sarangani Energy Corporation, Philippines
- Ministry of Transport, Egypt
- Energy Link Ltd, New Zealand
- Larsen & Toubro Limited - India
- GVK Power & Infra Limited - India
- Tamil Nadu electricity Board
- Neyveli Lignite Corporation Ltd, - India
- Asmin Koalindo Tuhup - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Parliament of New Zealand
- AsiaOL BioFuels Corp., Philippines
- Indika Energy - Indonesia
- Attock Cement Pakistan Limited
- Bahari Cakrawala Sebuku - Indonesia
- Sinarmas Energy and Mining - Indonesia
- ASAPP Information Group - India
- Samtan Co., Ltd - South Korea
- Trasteel International SA, Italy
- Cement Manufacturers Association - India
- IEA Clean Coal Centre - UK
- Carbofer General Trading SA - India
- Planning Commission, India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Wood Mackenzie - Singapore
- Ministry of Finance - Indonesia
- Chettinad Cement Corporation Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Siam City Cement - Thailand
- Karaikal Port Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Electricity Authority, New Zealand
- Renaissance Capital - South Africa
- Kaltim Prima Coal - Indonesia
- Energy Development Corp, Philippines
- Electricity Generating Authority of Thailand
- VISA Power Limited - India
- Videocon Industries ltd - India
- Altura Mining Limited, Indonesia
- Global Coal Blending Company Limited - Australia
- Maharashtra Electricity Regulatory Commission - India
- Chamber of Mines of South Africa
- Bayan Resources Tbk. - Indonesia
- Mjunction Services Limited - India
- Meenaskhi Energy Private Limited - India
- Aboitiz Power Corporation - Philippines
- Riau Bara Harum - Indonesia
- Romanian Commodities Exchange
- Deloitte Consulting - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sindya Power Generating Company Private Ltd
- Wilmar Investment Holdings
- Dalmia Cement Bharat India
- GMR Energy Limited - India
- Indian Energy Exchange, India
- Madhucon Powers Ltd - India
- SMC Global Power, Philippines
- Coalindo Energy - Indonesia
- Bhatia International Limited - India
- Thai Mozambique Logistica
- Coal and Oil Company - UAE
- Economic Council, Georgia
- Minerals Council of Australia
- Karbindo Abesyapradhi - Indoneisa
- Billiton Holdings Pty Ltd - Australia
- Jindal Steel & Power Ltd - India
- Semirara Mining Corp, Philippines
- European Bulk Services B.V. - Netherlands
- Kartika Selabumi Mining - Indonesia
- PowerSource Philippines DevCo
- Global Green Power PLC Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Latin American Coal - Colombia
- Global Business Power Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- GN Power Mariveles Coal Plant, Philippines
- Ceylon Electricity Board - Sri Lanka
- Eastern Energy - Thailand
- Banpu Public Company Limited - Thailand
- Kalimantan Lumbung Energi - Indonesia
- International Coal Ventures Pvt Ltd - India
- Mintek Dendrill Indonesia
- Bangladesh Power Developement Board
- Petron Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Agrawal Coal Company - India
- The Treasury - Australian Government
- Toyota Tsusho Corporation, Japan
- Cigading International Bulk Terminal - Indonesia
- Parry Sugars Refinery, India
- Star Paper Mills Limited - India
- Australian Commodity Traders Exchange
- Uttam Galva Steels Limited - India
- CNBM International Corporation - China
- Goldman Sachs - Singapore
- Indo Tambangraya Megah - Indonesia
- India Bulls Power Limited - India
- IHS Mccloskey Coal Group - USA
- Manunggal Multi Energi - Indonesia
- Merrill Lynch Commodities Europe
- Orica Australia Pty. Ltd.
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Anglo American - United Kingdom
- Vijayanagar Sugar Pvt Ltd - India
- Makarim & Taira - Indonesia
- Holcim Trading Pte Ltd - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Mercator Lines Limited - India
- Edison Trading Spa - Italy
- Africa Commodities Group - South Africa
- London Commodity Brokers - England
- Malabar Cements Ltd - India
- Eastern Coal Council - USA
- Bukit Makmur.PT - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Simpson Spence & Young - Indonesia
- Indogreen Group - Indonesia
- Bhoruka Overseas - Indonesia
- The University of Queensland
- Thiess Contractors Indonesia
- LBH Netherlands Bv - Netherlands
- Directorate Of Revenue Intelligence - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Antam Resourcindo - Indonesia
- Vizag Seaport Private Limited - India
- Medco Energi Mining Internasional
- Formosa Plastics Group - Taiwan
- Timah Investasi Mineral - Indoneisa
- Metalloyd Limited - United Kingdom
- SMG Consultants - Indonesia
- San Jose City I Power Corp, Philippines
- Iligan Light & Power Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- OPG Power Generation Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Australian Coal Association
- Bukit Baiduri Energy - Indonesia
- Oldendorff Carriers - Singapore
- Intertek Mineral Services - Indonesia
- Vedanta Resources Plc - India
- New Zealand Coal & Carbon
- Binh Thuan Hamico - Vietnam
- Miang Besar Coal Terminal - Indonesia
- Baramulti Group, Indonesia
- Maheswari Brothers Coal Limited - India
- Orica Mining Services - Indonesia
- Sojitz Corporation - Japan
- Sree Jayajothi Cements Limited - India
- Bharathi Cement Corporation - India
- Coastal Gujarat Power Limited - India
- Ind-Barath Power Infra Limited - India
- PNOC Exploration Corporation - Philippines
- Sakthi Sugars Limited - India
- Ambuja Cements Ltd - India
- Jaiprakash Power Ventures ltd
- Straits Asia Resources Limited - Singapore
- Ministry of Mines - Canada
- White Energy Company Limited
- Sical Logistics Limited - India
- South Luzon Thermal Energy Corporation
- Offshore Bulk Terminal Pte Ltd, Singapore
- SN Aboitiz Power Inc, Philippines
- Therma Luzon, Inc, Philippines
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