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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, 26 October 16
SHIPPING MARKET INSIGHT - KONSTANTINOS KONTOMICHIS
If the finale of a thriller movie finds the leading actor successfully surviving after all the sacrifices he has made, the audience presumes this t ...
Tuesday, 25 October 16
INDONESIAN COAL PRICES MARCH HIGHER CONTINUES
COALspot.com: A rally in thermal coal prices over the past few months, after years of decline, is still continuing and it is expected to rally at l ...
Tuesday, 25 October 16
THINGS ARE SLOWLY STARTING TO IMPROVE AS CORRECTIONS ARE MADE - ALLIED
It seems as though left, right and centre, all we see nowadays is the word “restructuring”.
There is restructuring amongst bankers ...
Monday, 24 October 16
KOMIPO INVITES BIDS FOR 0.78 MILLION TONS OF BITUMINOUS COAL
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued a new tender for 780,000 Metric Tons of Bituminous Coal for its B ...
Monday, 24 October 16
U.S WEEKLY COAL PRODUCTION DECLINED 3.2% TO 16 MMST WEEK OVER WEEK
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 16 million short tons ...
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- SMG Consultants - Indonesia
- New Zealand Coal & Carbon
- Karaikal Port Pvt Ltd - India
- Minerals Council of Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Vedanta Resources Plc - India
- Aboitiz Power Corporation - Philippines
- Medco Energi Mining Internasional
- Economic Council, Georgia
- Commonwealth Bank - Australia
- White Energy Company Limited
- Chettinad Cement Corporation Ltd - India
- Attock Cement Pakistan Limited
- LBH Netherlands Bv - Netherlands
- Interocean Group of Companies - India
- Coastal Gujarat Power Limited - India
- Star Paper Mills Limited - India
- Agrawal Coal Company - India
- Cigading International Bulk Terminal - Indonesia
- Heidelberg Cement - Germany
- Bhatia International Limited - India
- Sree Jayajothi Cements Limited - India
- Petron Corporation, Philippines
- Renaissance Capital - South Africa
- Central Java Power - Indonesia
- Toyota Tsusho Corporation, Japan
- Barasentosa Lestari - Indonesia
- Videocon Industries ltd - India
- Thiess Contractors Indonesia
- Sakthi Sugars Limited - India
- Miang Besar Coal Terminal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- MS Steel International - UAE
- Ind-Barath Power Infra Limited - India
- Rashtriya Ispat Nigam Limited - India
- Sical Logistics Limited - India
- Coalindo Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Power Finance Corporation Ltd., India
- Salva Resources Pvt Ltd - India
- London Commodity Brokers - England
- Tata Chemicals Ltd - India
- Tamil Nadu electricity Board
- Global Coal Blending Company Limited - Australia
- The State Trading Corporation of India Ltd
- Gujarat Sidhee Cement - India
- Orica Mining Services - Indonesia
- Coal and Oil Company - UAE
- Sindya Power Generating Company Private Ltd
- Ministry of Mines - Canada
- Bangladesh Power Developement Board
- Altura Mining Limited, Indonesia
- CIMB Investment Bank - Malaysia
- Kepco SPC Power Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Billiton Holdings Pty Ltd - Australia
- Meenaskhi Energy Private Limited - India
- Planning Commission, India
- GAC Shipping (India) Pvt Ltd
- Ministry of Finance - Indonesia
- Indian Energy Exchange, India
- Parliament of New Zealand
- TeaM Sual Corporation - Philippines
- Electricity Generating Authority of Thailand
- OPG Power Generation Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Jindal Steel & Power Ltd - India
- Antam Resourcindo - Indonesia
- Indian Oil Corporation Limited
- Kapuas Tunggal Persada - Indonesia
- Global Green Power PLC Corporation, Philippines
- Samtan Co., Ltd - South Korea
- IEA Clean Coal Centre - UK
- Directorate General of MIneral and Coal - Indonesia
- Intertek Mineral Services - Indonesia
- Indo Tambangraya Megah - Indonesia
- Ministry of Transport, Egypt
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- Neyveli Lignite Corporation Ltd, - India
- Bukit Baiduri Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- International Coal Ventures Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Grasim Industreis Ltd - India
- Pendopo Energi Batubara - Indonesia
- Orica Australia Pty. Ltd.
- Bulk Trading Sa - Switzerland
- South Luzon Thermal Energy Corporation
- Krishnapatnam Port Company Ltd. - India
- Vijayanagar Sugar Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Aditya Birla Group - India
- Posco Energy - South Korea
- European Bulk Services B.V. - Netherlands
- CNBM International Corporation - China
- Manunggal Multi Energi - Indonesia
- Vizag Seaport Private Limited - India
- Dalmia Cement Bharat India
- Trasteel International SA, Italy
- Independent Power Producers Association of India
- Latin American Coal - Colombia
- Africa Commodities Group - South Africa
- Wood Mackenzie - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Borneo Indobara - Indonesia
- Bharathi Cement Corporation - India
- Anglo American - United Kingdom
- Eastern Coal Council - USA
- GVK Power & Infra Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Jaiprakash Power Ventures ltd
- AsiaOL BioFuels Corp., Philippines
- Sinarmas Energy and Mining - Indonesia
- Maheswari Brothers Coal Limited - India
- Standard Chartered Bank - UAE
- Goldman Sachs - Singapore
- Larsen & Toubro Limited - India
- Banpu Public Company Limited - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Metalloyd Limited - United Kingdom
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- VISA Power Limited - India
- Essar Steel Hazira Ltd - India
- GMR Energy Limited - India
- Lanco Infratech Ltd - India
- Edison Trading Spa - Italy
- Riau Bara Harum - Indonesia
- Thai Mozambique Logistica
- Jorong Barutama Greston.PT - Indonesia
- PTC India Limited - India
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- Petrochimia International Co. Ltd.- Taiwan
- Pipit Mutiara Jaya. PT, Indonesia
- SN Aboitiz Power Inc, Philippines
- Indonesian Coal Mining Association
- Port Waratah Coal Services - Australia
- Central Electricity Authority - India
- Bukit Makmur.PT - Indonesia
- ASAPP Information Group - India
- Bhushan Steel Limited - India
- Energy Development Corp, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Rio Tinto Coal - Australia
- Semirara Mining Corp, Philippines
- Makarim & Taira - Indonesia
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- PetroVietnam Power Coal Import and Supply Company
- Kideco Jaya Agung - Indonesia
- Global Business Power Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Siam City Cement - Thailand
- Price Waterhouse Coopers - Russia
- Kumho Petrochemical, South Korea
- Malabar Cements Ltd - India
- Meralco Power Generation, Philippines
- Savvy Resources Ltd - HongKong
- Electricity Authority, New Zealand
- ICICI Bank Limited - India
- Deloitte Consulting - India
- Straits Asia Resources Limited - Singapore
- Indika Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Australian Commodity Traders Exchange
- Kartika Selabumi Mining - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Marubeni Corporation - India
- Binh Thuan Hamico - Vietnam
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Xindia Steels Limited - India
- Kalimantan Lumbung Energi - Indonesia
- McConnell Dowell - Australia
- PowerSource Philippines DevCo
- Mercator Lines Limited - India
- The Treasury - Australian Government
- Globalindo Alam Lestari - Indonesia
- Siam City Cement PLC, Thailand
- Indogreen Group - Indonesia
- PNOC Exploration Corporation - Philippines
- Eastern Energy - Thailand
- Cement Manufacturers Association - India
- Iligan Light & Power Inc, Philippines
- Georgia Ports Authority, United States
- Asmin Koalindo Tuhup - Indonesia
- Formosa Plastics Group - Taiwan
- Australian Coal Association
- Mercuria Energy - Indonesia
- Romanian Commodities Exchange
- Ceylon Electricity Board - Sri Lanka
- Bukit Asam (Persero) Tbk - Indonesia
- India Bulls Power Limited - India
- San Jose City I Power Corp, Philippines
- The University of Queensland
- Chamber of Mines of South Africa
- Sojitz Corporation - Japan
- Kobexindo Tractors - Indoneisa
- Singapore Mercantile Exchange
- Mjunction Services Limited - India
- Baramulti Group, Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Therma Luzon, Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Alfred C Toepfer International GmbH - Germany
- Ambuja Cements Ltd - India
- SMC Global Power, Philippines
- Merrill Lynch Commodities Europe
- Kaltim Prima Coal - Indonesia
- Mintek Dendrill Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Carbofer General Trading SA - India
- Parry Sugars Refinery, India
- IHS Mccloskey Coal Group - USA
- Bayan Resources Tbk. - Indonesia
- Timah Investasi Mineral - Indoneisa
- Wilmar Investment Holdings
- Bhoruka Overseas - Indonesia
- Sarangani Energy Corporation, Philippines
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