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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, 28 September 16
WITHOUT A DOUBT FREIGHT RATES HAVE MOVED UP A BIT TO HEALTHIER LEVELS - INTERMODAL
As we are approaching Q4, it is interesting to perform a review of the last nine months with respect to the second-hand prices of Supramax and Pana ...
Tuesday, 27 September 16
THE CAPESIZE RATE OF INCREASE HAS BEEN IMPRESSIVE, UP 39% W/W AND 123% MONTH TO DATE - ALLIED
The Dry bulk market has seen a rare shine in its performance as the capesize sector manages to rally at an unprecedented rate compared to its perfo ...
Monday, 26 September 16
COAL PRICES HAVE BEEN MOVING STEADILY HIGHER AFTER YEARS OF DECLINE
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, 26 September 16
THE FREIGHT MARKET WAS FIRM; ALL SEGMENTS WERE UP THIS PAST WEEK
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities rose and ending in a positive note this past week. The BD ...
Friday, 23 September 16
"COLLATERAL LIES" DO NOT NECESSARILY UNDERMINE AN INSURANCE CLAIM
KNOWLEDGE TO ELEVATE
An insured was not precluded from recovering under an insurance policy even though it had made a false statement during t ...
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- Coalindo Energy - Indonesia
- Lanco Infratech Ltd - India
- ASAPP Information Group - India
- Wood Mackenzie - Singapore
- Simpson Spence & Young - Indonesia
- European Bulk Services B.V. - Netherlands
- Kohat Cement Company Ltd. - Pakistan
- Trasteel International SA, Italy
- Sree Jayajothi Cements Limited - India
- Videocon Industries ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Agrawal Coal Company - India
- Leighton Contractors Pty Ltd - Australia
- Eastern Energy - Thailand
- Vizag Seaport Private Limited - India
- India Bulls Power Limited - India
- SN Aboitiz Power Inc, Philippines
- Merrill Lynch Commodities Europe
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Economic Council, Georgia
- Ministry of Transport, Egypt
- Kumho Petrochemical, South Korea
- Rio Tinto Coal - Australia
- Independent Power Producers Association of India
- Interocean Group of Companies - India
- Ministry of Mines - Canada
- AsiaOL BioFuels Corp., Philippines
- ICICI Bank Limited - India
- Global Coal Blending Company Limited - Australia
- Mintek Dendrill Indonesia
- Orica Mining Services - Indonesia
- Sakthi Sugars Limited - India
- Bharathi Cement Corporation - India
- GAC Shipping (India) Pvt Ltd
- Jorong Barutama Greston.PT - Indonesia
- IHS Mccloskey Coal Group - USA
- Port Waratah Coal Services - Australia
- MS Steel International - UAE
- Georgia Ports Authority, United States
- PTC India Limited - India
- Iligan Light & Power Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Essar Steel Hazira Ltd - India
- OPG Power Generation Pvt Ltd - India
- Star Paper Mills Limited - India
- International Coal Ventures Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Deloitte Consulting - India
- Bhoruka Overseas - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Gujarat Sidhee Cement - India
- IEA Clean Coal Centre - UK
- Toyota Tsusho Corporation, Japan
- Savvy Resources Ltd - HongKong
- Makarim & Taira - Indonesia
- Commonwealth Bank - Australia
- Madhucon Powers Ltd - India
- Cement Manufacturers Association - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Heidelberg Cement - Germany
- Renaissance Capital - South Africa
- PetroVietnam Power Coal Import and Supply Company
- Billiton Holdings Pty Ltd - Australia
- Indian Oil Corporation Limited
- Xindia Steels Limited - India
- Bukit Makmur.PT - Indonesia
- Australian Coal Association
- Bangladesh Power Developement Board
- Kalimantan Lumbung Energi - Indonesia
- Jindal Steel & Power Ltd - India
- Barasentosa Lestari - Indonesia
- Electricity Authority, New Zealand
- Kartika Selabumi Mining - Indonesia
- Carbofer General Trading SA - India
- Chamber of Mines of South Africa
- Eastern Coal Council - USA
- Asmin Koalindo Tuhup - Indonesia
- Samtan Co., Ltd - South Korea
- Tata Chemicals Ltd - India
- Edison Trading Spa - Italy
- Energy Development Corp, Philippines
- Intertek Mineral Services - Indonesia
- Riau Bara Harum - Indonesia
- Kobexindo Tractors - Indoneisa
- The State Trading Corporation of India Ltd
- Petron Corporation, Philippines
- Wilmar Investment Holdings
- Coal and Oil Company - UAE
- Global Business Power Corporation, Philippines
- McConnell Dowell - Australia
- Pendopo Energi Batubara - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Semirara Mining Corp, Philippines
- Indian Energy Exchange, India
- Bahari Cakrawala Sebuku - Indonesia
- Marubeni Corporation - India
- White Energy Company Limited
- Alfred C Toepfer International GmbH - Germany
- New Zealand Coal & Carbon
- Bukit Baiduri Energy - Indonesia
- Planning Commission, India
- Standard Chartered Bank - UAE
- Antam Resourcindo - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Tamil Nadu electricity Board
- Kideco Jaya Agung - Indonesia
- Larsen & Toubro Limited - India
- Central Electricity Authority - India
- Posco Energy - South Korea
- Sarangani Energy Corporation, Philippines
- San Jose City I Power Corp, Philippines
- LBH Netherlands Bv - Netherlands
- Borneo Indobara - Indonesia
- Ind-Barath Power Infra Limited - India
- Power Finance Corporation Ltd., India
- Australian Commodity Traders Exchange
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Maheswari Brothers Coal Limited - India
- Aditya Birla Group - India
- Bhatia International Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Price Waterhouse Coopers - Russia
- Medco Energi Mining Internasional
- Grasim Industreis Ltd - India
- Bayan Resources Tbk. - Indonesia
- SMC Global Power, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Timah Investasi Mineral - Indoneisa
- Salva Resources Pvt Ltd - India
- Meralco Power Generation, Philippines
- Formosa Plastics Group - Taiwan
- Bhushan Steel Limited - India
- Indogreen Group - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Mercuria Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Minerals Council of Australia
- Central Java Power - Indonesia
- Siam City Cement PLC, Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ambuja Cements Ltd - India
- Mercator Lines Limited - India
- Altura Mining Limited, Indonesia
- Aboitiz Power Corporation - Philippines
- Thai Mozambique Logistica
- Baramulti Group, Indonesia
- Goldman Sachs - Singapore
- Oldendorff Carriers - Singapore
- Straits Asia Resources Limited - Singapore
- The University of Queensland
- Kaltim Prima Coal - Indonesia
- Meenaskhi Energy Private Limited - India
- Uttam Galva Steels Limited - India
- CNBM International Corporation - China
- Romanian Commodities Exchange
- Maharashtra Electricity Regulatory Commission - India
- Gujarat Electricity Regulatory Commission - India
- Attock Cement Pakistan Limited
- Therma Luzon, Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- Cigading International Bulk Terminal - Indonesia
- Banpu Public Company Limited - Thailand
- Sojitz Corporation - Japan
- SMG Consultants - Indonesia
- Malabar Cements Ltd - India
- Jaiprakash Power Ventures ltd
- Indika Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Thiess Contractors Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Anglo American - United Kingdom
- Sical Logistics Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Rashtriya Ispat Nigam Limited - India
- TeaM Sual Corporation - Philippines
- The Treasury - Australian Government
- Sindya Power Generating Company Private Ltd
- Indo Tambangraya Megah - Indonesia
- Manunggal Multi Energi - Indonesia
- PNOC Exploration Corporation - Philippines
- Latin American Coal - Colombia
- Parliament of New Zealand
- Karbindo Abesyapradhi - Indoneisa
- Miang Besar Coal Terminal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Kepco SPC Power Corporation, Philippines
- PowerSource Philippines DevCo
- Energy Link Ltd, New Zealand
- Mjunction Services Limited - India
- Indonesian Coal Mining Association
- Holcim Trading Pte Ltd - Singapore
- Sinarmas Energy and Mining - Indonesia
- South Luzon Thermal Energy Corporation
- Vedanta Resources Plc - India
- Global Green Power PLC Corporation, Philippines
- CIMB Investment Bank - Malaysia
- VISA Power Limited - India
- Electricity Generating Authority of Thailand
- Binh Thuan Hamico - Vietnam
- Ministry of Finance - Indonesia
- Metalloyd Limited - United Kingdom
- GMR Energy Limited - India
- GVK Power & Infra Limited - India
- Dalmia Cement Bharat India
- Singapore Mercantile Exchange
- Africa Commodities Group - South Africa
- Semirara Mining and Power Corporation, Philippines
- Coastal Gujarat Power Limited - India
- London Commodity Brokers - England
- Krishnapatnam Port Company Ltd. - India
- Bulk Trading Sa - Switzerland
- Chettinad Cement Corporation Ltd - India
- Siam City Cement - Thailand
- Parry Sugars Refinery, India
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