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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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Friday, 23 September 16
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Wednesday, 21 September 16
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- Bayan Resources Tbk. - Indonesia
- Tamil Nadu electricity Board
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Semirara Mining and Power Corporation, Philippines
- Parliament of New Zealand
- Renaissance Capital - South Africa
- Petrochimia International Co. Ltd.- Taiwan
- Ministry of Finance - Indonesia
- Sarangani Energy Corporation, Philippines
- Medco Energi Mining Internasional
- Kepco SPC Power Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Aditya Birla Group - India
- Orica Australia Pty. Ltd.
- The State Trading Corporation of India Ltd
- Indonesian Coal Mining Association
- Port Waratah Coal Services - Australia
- Global Business Power Corporation, Philippines
- Sojitz Corporation - Japan
- Bahari Cakrawala Sebuku - Indonesia
- Electricity Authority, New Zealand
- McConnell Dowell - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Barasentosa Lestari - Indonesia
- Salva Resources Pvt Ltd - India
- Romanian Commodities Exchange
- ICICI Bank Limited - India
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- GMR Energy Limited - India
- Wood Mackenzie - Singapore
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- Petron Corporation, Philippines
- ASAPP Information Group - India
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- Thai Mozambique Logistica
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- The Treasury - Australian Government
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- Jaiprakash Power Ventures ltd
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- Independent Power Producers Association of India
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- Antam Resourcindo - Indonesia
- SN Aboitiz Power Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- LBH Netherlands Bv - Netherlands
- Eastern Energy - Thailand
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- Aboitiz Power Corporation - Philippines
- Kohat Cement Company Ltd. - Pakistan
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- Savvy Resources Ltd - HongKong
- Kideco Jaya Agung - Indonesia
- India Bulls Power Limited - India
- Economic Council, Georgia
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- Mjunction Services Limited - India
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- Coalindo Energy - Indonesia
- Xindia Steels Limited - India
- Standard Chartered Bank - UAE
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Africa Commodities Group - South Africa
- Toyota Tsusho Corporation, Japan
- Minerals Council of Australia
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- Directorate Of Revenue Intelligence - India
- Electricity Generating Authority of Thailand
- Borneo Indobara - Indonesia
- Uttam Galva Steels Limited - India
- Riau Bara Harum - Indonesia
- Indian Oil Corporation Limited
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- Trasteel International SA, Italy
- Wilmar Investment Holdings
- VISA Power Limited - India
- Siam City Cement PLC, Thailand
- Vedanta Resources Plc - India
- Bukit Asam (Persero) Tbk - Indonesia
- Gujarat Sidhee Cement - India
- Star Paper Mills Limited - India
- Central Java Power - Indonesia
- Energy Link Ltd, New Zealand
- IEA Clean Coal Centre - UK
- Globalindo Alam Lestari - Indonesia
- Merrill Lynch Commodities Europe
- Larsen & Toubro Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Meralco Power Generation, Philippines
- PowerSource Philippines DevCo
- Sindya Power Generating Company Private Ltd
- White Energy Company Limited
- Sakthi Sugars Limited - India
- Bhoruka Overseas - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Simpson Spence & Young - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Indian Energy Exchange, India
- Bangladesh Power Developement Board
- Makarim & Taira - Indonesia
- Jindal Steel & Power Ltd - India
- Australian Commodity Traders Exchange
- Directorate General of MIneral and Coal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Agrawal Coal Company - India
- Metalloyd Limited - United Kingdom
- Dalmia Cement Bharat India
- Marubeni Corporation - India
- Formosa Plastics Group - Taiwan
- Power Finance Corporation Ltd., India
- CNBM International Corporation - China
- Posco Energy - South Korea
- TeaM Sual Corporation - Philippines
- Singapore Mercantile Exchange
- Mintek Dendrill Indonesia
- Oldendorff Carriers - Singapore
- Bhatia International Limited - India
- South Luzon Thermal Energy Corporation
- Thiess Contractors Indonesia
- Bukit Makmur.PT - Indonesia
- Ceylon Electricity Board - Sri Lanka
- PetroVietnam Power Coal Import and Supply Company
- TNB Fuel Sdn Bhd - Malaysia
- Bhushan Steel Limited - India
- Indogreen Group - Indonesia
- Cement Manufacturers Association - India
- Baramulti Group, Indonesia
- Anglo American - United Kingdom
- San Jose City I Power Corp, Philippines
- Goldman Sachs - Singapore
- Commonwealth Bank - Australia
- Coal and Oil Company - UAE
- Georgia Ports Authority, United States
- Essar Steel Hazira Ltd - India
- Lanco Infratech Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Karaikal Port Pvt Ltd - India
- SMG Consultants - Indonesia
- Alfred C Toepfer International GmbH - Germany
- International Coal Ventures Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Ind-Barath Power Infra Limited - India
- Tata Chemicals Ltd - India
- London Commodity Brokers - England
- Rashtriya Ispat Nigam Limited - India
- Kartika Selabumi Mining - Indonesia
- Ministry of Mines - Canada
- Siam City Cement - Thailand
- Semirara Mining Corp, Philippines
- MS Steel International - UAE
- Altura Mining Limited, Indonesia
- Energy Development Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Ministry of Transport, Egypt
- Bulk Trading Sa - Switzerland
- Ambuja Cements Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Krishnapatnam Port Company Ltd. - India
- Eastern Coal Council - USA
- IHS Mccloskey Coal Group - USA
- European Bulk Services B.V. - Netherlands
- AsiaOL BioFuels Corp., Philippines
- Neyveli Lignite Corporation Ltd, - India
- Jorong Barutama Greston.PT - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Price Waterhouse Coopers - Russia
- Deloitte Consulting - India
- Billiton Holdings Pty Ltd - Australia
- Global Green Power PLC Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Interocean Group of Companies - India
- Bharathi Cement Corporation - India
- Indo Tambangraya Megah - Indonesia
- Rio Tinto Coal - Australia
- Kumho Petrochemical, South Korea
- Central Electricity Authority - India
- Mercator Lines Limited - India
- Iligan Light & Power Inc, Philippines
- GVK Power & Infra Limited - India
- Australian Coal Association
- PTC India Limited - India
- Banpu Public Company Limited - Thailand
- Binh Thuan Hamico - Vietnam
- Leighton Contractors Pty Ltd - Australia
- Timah Investasi Mineral - Indoneisa
- New Zealand Coal & Carbon
- Holcim Trading Pte Ltd - Singapore
- Samtan Co., Ltd - South Korea
- Kobexindo Tractors - Indoneisa
- Manunggal Multi Energi - Indonesia
- Orica Mining Services - Indonesia
- SMC Global Power, Philippines
- Meenaskhi Energy Private Limited - India
- Global Coal Blending Company Limited - Australia
- The University of Queensland
- Videocon Industries ltd - India
- Heidelberg Cement - Germany
- Intertek Mineral Services - Indonesia
- Edison Trading Spa - Italy
- Chamber of Mines of South Africa
- Planning Commission, India
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- Kaltim Prima Coal - Indonesia
- OPG Power Generation Pvt Ltd - India
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