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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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Monday, 03 October 16
THERMAL COAL PRICE SHOOTS UP AND MADE THEIR VERTICAL MOVE IN 5 YEARS; PRICE RALLY 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 ...
Monday, 03 October 16
DRY-BULK SHIPPING FREIGHTS SLIDE IN SOFTENING SPOT MARKET
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities decline slightly and ending in a negative note this past ...
Friday, 30 September 16
U.S. WEEKLY COAL OUTPUT FELL 2.3% - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 15.7 million short ton ...
Friday, 30 September 16
OPEC CUT SUPPORTS SLOW OIL RECOVERY, NOT STRONG REBOUND - FITCH
OPEC's oil production target announced this week signals the potential for greater co-ordination among its members, but the target itself is la ...
Thursday, 29 September 16
FREIGHT RATES MIGHT CONTINUE TO SLIDE NEXT WEEK DUE TO HOLIDAYS IN CHINA
Supramax
Flat start to week followed by a slight gain in rates for Supramaxes, says Fearnleys in its latest weekly report.
According to Fear ...
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- Maharashtra Electricity Regulatory Commission - India
- Tamil Nadu electricity Board
- Savvy Resources Ltd - HongKong
- Bhushan Steel Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Tata Chemicals Ltd - India
- Toyota Tsusho Corporation, Japan
- Pipit Mutiara Jaya. PT, Indonesia
- Ministry of Mines - Canada
- Kalimantan Lumbung Energi - Indonesia
- Manunggal Multi Energi - Indonesia
- Attock Cement Pakistan Limited
- Wilmar Investment Holdings
- Altura Mining Limited, Indonesia
- Edison Trading Spa - Italy
- Meenaskhi Energy Private Limited - India
- Kumho Petrochemical, South Korea
- Global Business Power Corporation, Philippines
- Aditya Birla Group - India
- Sakthi Sugars Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- SN Aboitiz Power Inc, Philippines
- PTC India Limited - India
- Standard Chartered Bank - UAE
- Krishnapatnam Port Company Ltd. - India
- Mercator Lines Limited - India
- Straits Asia Resources Limited - Singapore
- Indika Energy - Indonesia
- Cement Manufacturers Association - India
- Planning Commission, India
- Maheswari Brothers Coal Limited - India
- Meralco Power Generation, Philippines
- Sree Jayajothi Cements Limited - India
- Uttam Galva Steels Limited - India
- ASAPP Information Group - India
- Alfred C Toepfer International GmbH - Germany
- Directorate Of Revenue Intelligence - India
- Independent Power Producers Association of India
- Sinarmas Energy and Mining - Indonesia
- Electricity Authority, New Zealand
- Global Coal Blending Company Limited - Australia
- Price Waterhouse Coopers - Russia
- Mercuria Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- International Coal Ventures Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Intertek Mineral Services - Indonesia
- Barasentosa Lestari - Indonesia
- Salva Resources Pvt Ltd - India
- GVK Power & Infra Limited - India
- Karaikal Port Pvt Ltd - India
- Larsen & Toubro Limited - India
- Parliament of New Zealand
- Minerals Council of Australia
- MS Steel International - UAE
- Global Green Power PLC Corporation, Philippines
- Posco Energy - South Korea
- TeaM Sual Corporation - Philippines
- Singapore Mercantile Exchange
- Iligan Light & Power Inc, Philippines
- Indian Oil Corporation Limited
- Neyveli Lignite Corporation Ltd, - India
- LBH Netherlands Bv - Netherlands
- Therma Luzon, Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Electricity Generating Authority of Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bank of Tokyo Mitsubishi UFJ Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Jindal Steel & Power Ltd - India
- Kaltim Prima Coal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Central Java Power - Indonesia
- McConnell Dowell - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Xindia Steels Limited - India
- India Bulls Power Limited - India
- CIMB Investment Bank - Malaysia
- Orica Australia Pty. Ltd.
- European Bulk Services B.V. - Netherlands
- Jaiprakash Power Ventures ltd
- Baramulti Group, Indonesia
- Vedanta Resources Plc - India
- Vizag Seaport Private Limited - India
- Economic Council, Georgia
- Indo Tambangraya Megah - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Semirara Mining and Power Corporation, Philippines
- White Energy Company Limited
- Cigading International Bulk Terminal - Indonesia
- Madhucon Powers Ltd - India
- Indian Energy Exchange, India
- Bulk Trading Sa - Switzerland
- Riau Bara Harum - Indonesia
- Simpson Spence & Young - Indonesia
- New Zealand Coal & Carbon
- Videocon Industries ltd - India
- OPG Power Generation Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Malabar Cements Ltd - India
- GAC Shipping (India) Pvt Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Renaissance Capital - South Africa
- Samtan Co., Ltd - South Korea
- Formosa Plastics Group - Taiwan
- Grasim Industreis Ltd - India
- Chamber of Mines of South Africa
- Latin American Coal - Colombia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Interocean Group of Companies - India
- Bangladesh Power Developement Board
- Commonwealth Bank - Australia
- Trasteel International SA, Italy
- Antam Resourcindo - Indonesia
- Bukit Baiduri Energy - Indonesia
- Bhatia International Limited - India
- Australian Coal Association
- Globalindo Alam Lestari - Indonesia
- Bukit Makmur.PT - Indonesia
- Carbofer General Trading SA - India
- Heidelberg Cement - Germany
- GMR Energy Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Agrawal Coal Company - India
- Chettinad Cement Corporation Ltd - India
- Marubeni Corporation - India
- SMG Consultants - Indonesia
- Sojitz Corporation - Japan
- Central Electricity Authority - India
- GN Power Mariveles Coal Plant, Philippines
- Miang Besar Coal Terminal - Indonesia
- Aboitiz Power Corporation - Philippines
- Oldendorff Carriers - Singapore
- South Luzon Thermal Energy Corporation
- Kartika Selabumi Mining - Indonesia
- Siam City Cement - Thailand
- Coal and Oil Company - UAE
- Makarim & Taira - Indonesia
- Thiess Contractors Indonesia
- IHS Mccloskey Coal Group - USA
- PowerSource Philippines DevCo
- Bharathi Cement Corporation - India
- Sindya Power Generating Company Private Ltd
- Anglo American - United Kingdom
- Semirara Mining Corp, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Power Finance Corporation Ltd., India
- Metalloyd Limited - United Kingdom
- Wood Mackenzie - Singapore
- Port Waratah Coal Services - Australia
- Ind-Barath Power Infra Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Bayan Resources Tbk. - Indonesia
- Merrill Lynch Commodities Europe
- Indonesian Coal Mining Association
- Ministry of Finance - Indonesia
- Rio Tinto Coal - Australia
- Ceylon Electricity Board - Sri Lanka
- Petron Corporation, Philippines
- Thai Mozambique Logistica
- Energy Development Corp, Philippines
- Coalindo Energy - Indonesia
- Bhoruka Overseas - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Dalmia Cement Bharat India
- Indogreen Group - Indonesia
- ICICI Bank Limited - India
- Leighton Contractors Pty Ltd - Australia
- Australian Commodity Traders Exchange
- SMC Global Power, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Rashtriya Ispat Nigam Limited - India
- Medco Energi Mining Internasional
- Gujarat Sidhee Cement - India
- IEA Clean Coal Centre - UK
- San Jose City I Power Corp, Philippines
- Deloitte Consulting - India
- Banpu Public Company Limited - Thailand
- The University of Queensland
- Sical Logistics Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Ministry of Transport, Egypt
- Ambuja Cements Ltd - India
- Mintek Dendrill Indonesia
- Essar Steel Hazira Ltd - India
- Binh Thuan Hamico - Vietnam
- Directorate General of MIneral and Coal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Eastern Coal Council - USA
- CNBM International Corporation - China
- The State Trading Corporation of India Ltd
- Kideco Jaya Agung - Indonesia
- Star Paper Mills Limited - India
- Romanian Commodities Exchange
- Borneo Indobara - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Siam City Cement PLC, Thailand
- VISA Power Limited - India
- Coastal Gujarat Power Limited - India
- Eastern Energy - Thailand
- London Commodity Brokers - England
- Mjunction Services Limited - India
- Holcim Trading Pte Ltd - Singapore
- Goldman Sachs - Singapore
- Africa Commodities Group - South Africa
- Lanco Infratech Ltd - India
- PNOC Exploration Corporation - Philippines
- Georgia Ports Authority, United States
- Sarangani Energy Corporation, Philippines
- The Treasury - Australian Government
- Parry Sugars Refinery, India
- Orica Mining Services - Indonesia
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