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Monday, 11 September 17
INDONESIAN ICPR SURGES HIGHER, POSTS BIGGEST MONTHLY RISE SINCE DECEMBER 2016, ESDM DATA SHOWS
COALspot.com: Indonesian coal benchmark price surges 9.60% in September, government data showed.
The benchmark price of Indonesian thermal coal increased US$8.06 per ton month on month to $92.03 per ton for September 2017 delivery.
The Director General of Mineral and Coal of Indonesia, the coal regulator of Indonesian coal who has an authority to declare the monthly benchmark price for Indonesian thermal coal, had declared September 2017 HBA at US$92.03 per ton for 6322 GAR power plant coal. DGoMC has increased the monthly Indonesian thermal coal price reference for September delivery by 9.60% a ton compared to last month declared HBA.
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In the meantime, the September 2017 HBA is 43.95% higher the comparable period in 2016.
The Indonesian coal price reference of September 2017 increased US$8.06 a ton compared to August 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 international coal 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$22.74 a ton (up 43.92% Y/Y and 9.59% M/M) for the coal with calorific value 2,995 kcal/kg on GAR with total moisture 50.10% on as received basis for September 2017 FOB vessel delivery. In the meantime, the government is also declared US$64.87per ton as HPB for 5000 GAR coal with total moisture 22.40%, Ash 8.90% and Sulphur 0.54% for September 2017 deliveries.
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The declared Indonesia thermal coal reference price (or called HBA) for February 2016 was the lowest in 105 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 September 2017 was calculated based on calorific value of 6,322 kcal/kg (GAR), stated to be using a formula based on the August 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 – 30 September 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$35.02 a ton or 27.56 per cent lower compared to Feb’ 11 benchmark price. In the meantime, this month’s declared price was around US$41.11 a ton or 80.73 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).
The declared HBA in this month is valid for the spot price (loading on or before 30 September 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 69 coal types with a quality similar to the coal price markers.
Click here for full details of Indonesian coal price reference since January 2009.(cs)
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Wednesday, 17 October 18
SHIPPING MARKET INSIGHT - TIMOS PAPADIMITRIOU
In the last three months approximately 72 tankers changed hands involving ships larger than 33kdwt up to VLCC. 43 of those vessels had to do ...
Tuesday, 16 October 18
A PRACTICAL OVERVIEW OF THE IMO 2020 SULPHUR CAP - CLYDE&CO
KNOWLEDGE TO ELEVATE
With less than eighteen months before Regulation 14.1.3 of Annex VI of the MARPOL Convention comes into effect, there are ...
Saturday, 13 October 18
SUPRAMAX: SIGNIFICANT ACTIVITY IN THE INDIAN OCEAN WAS EVIDENT AND RATES JUMPED - BALTIC BRIEFING
Capesize
A sharp reversal of fortunes for the big ships as the week closed after a depressed beginning. To start with drops were sudden, with t ...
Wednesday, 10 October 18
SHIPPING MARKET INSIGHT - ILIAS M. LALAOUNIS
During the end of last month the BHSI was hovering around 630 points, while the last observed sale on a 10-yr old Japanese Handy was the M/V Van Im ...
Monday, 08 October 18
INDONESIAN THERMAL COAL PRICE REFERENCE FELL 3.74% IN OCTOBER 2018
COALspot.com: The Ministry of Energy and Mineral Resources of the Republic of Indonesia has revised down the benchmark price of Indonesian thermal ...
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- Globalindo Alam Lestari - Indonesia
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- Price Waterhouse Coopers - Russia
- Ambuja Cements Ltd - India
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- Siam City Cement - Thailand
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- Standard Chartered Bank - UAE
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- Metalloyd Limited - United Kingdom
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- Economic Council, Georgia
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- Renaissance Capital - South Africa
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- Edison Trading Spa - Italy
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- Chamber of Mines of South Africa
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- Gujarat Electricity Regulatory Commission - India
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- Africa Commodities Group - South Africa
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- McConnell Dowell - Australia
- Bulk Trading Sa - Switzerland
- IHS Mccloskey Coal Group - USA
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- Georgia Ports Authority, United States
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- Sojitz Corporation - Japan
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- Global Business Power Corporation, Philippines
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- Commonwealth Bank - Australia
- Directorate Of Revenue Intelligence - India
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- Coal and Oil Company - UAE
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- CNBM International Corporation - China
- Antam Resourcindo - Indonesia
- Singapore Mercantile Exchange
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- Parliament of New Zealand
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- Meralco Power Generation, Philippines
- SMG Consultants - Indonesia
- Videocon Industries ltd - India
- GAC Shipping (India) Pvt Ltd
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- Bhatia International Limited - India
- Australian Commodity Traders Exchange
- Timah Investasi Mineral - Indoneisa
- Bank of Tokyo Mitsubishi UFJ Ltd
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- SN Aboitiz Power Inc, Philippines
- Orica Mining Services - Indonesia
- European Bulk Services B.V. - Netherlands
- Trasteel International SA, Italy
- Port Waratah Coal Services - Australia
- Orica Australia Pty. Ltd.
- Rio Tinto Coal - Australia
- Goldman Sachs - Singapore
- South Luzon Thermal Energy Corporation
- IEA Clean Coal Centre - UK
- Indonesian Coal Mining Association
- Kohat Cement Company Ltd. - Pakistan
- Savvy Resources Ltd - HongKong
- Interocean Group of Companies - India
- Intertek Mineral Services - Indonesia
- Sarangani Energy Corporation, Philippines
- Central Java Power - Indonesia
- Gujarat Sidhee Cement - India
- The State Trading Corporation of India Ltd
- Ministry of Mines - Canada
- Kaltim Prima Coal - Indonesia
- SMC Global Power, Philippines
- Bukit Baiduri Energy - Indonesia
- Agrawal Coal Company - India
- Indogreen Group - Indonesia
- Central Electricity Authority - India
- Australian Coal Association
- PowerSource Philippines DevCo
- Planning Commission, India
- Merrill Lynch Commodities Europe
- Petrochimia International Co. Ltd.- Taiwan
- Pendopo Energi Batubara - Indonesia
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- PNOC Exploration Corporation - Philippines
- OPG Power Generation Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Indian Energy Exchange, India
- LBH Netherlands Bv - Netherlands
- Alfred C Toepfer International GmbH - Germany
- Posco Energy - South Korea
- Malabar Cements Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Altura Mining Limited, Indonesia
- Maheswari Brothers Coal Limited - India
- Bayan Resources Tbk. - Indonesia
- Barasentosa Lestari - Indonesia
- Larsen & Toubro Limited - India
- Lanco Infratech Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- India Bulls Power Limited - India
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- Truba Alam Manunggal Engineering.Tbk - Indonesia
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- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Global Coal Blending Company Limited - Australia
- CIMB Investment Bank - Malaysia
- GVK Power & Infra Limited - India
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