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Monday, 04 July 16
INDONESIA COAL PRICE REFERENCE CLIMBED 2.30% IN JULY
COALspot.com: The Indonesia Coal Benchmark Price increased in July 2016.
The Director General of Mineral and Coal of Indonesia, the regulator of Coal industry in Indonesia who has authority to declare monthly benchmark price for Indonesian thermal coal, has declaring Indonesia coal benchmark price every month. The Mineral and Coal department had declared July 2016 HBA at US$ 53 per ton for 6322 GAR power plant coal on 1 July 2016.
The July 2016 HBA up nearly 2.3% from last month and declined 10.41% the comparable period in 2015.
The July 2016 price reference for Indonesian coal up 2.3% or US$ 1.19 a ton from June 2016. The July Indonesia benchmark price for coal was off 10.41% from the July 2015 price of US$ 59.16 a ton. 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 HBA 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$ 13.10 a ton (up 2.34 per cent 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 July 2016 FOB vessel delivery. In the meantime, the government is also declared US$ 38.84 per ton as HPB for 5000 GAR coal with total moisture 22.40%, Ash 8.90% and Sulphur 0.54% for July 2016 deliveries.
The February 2016 Indonesia thermal coal reference price (or called HBA) was the lowest in 91 months and also since launching of HBA by the government of Indonesia in January 2009. The royalty and taxes will be calculated based on this declared HPB.
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Indonesian coal benchmark price for July 2016 was calculated based on calorific value of 6,322 kcal/kg (GAR), stated to be using a formula based on the June 2016 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 July 2016.
The highest benchmark price was declared by the Ministry of Energy & Mineral Resources of Indonesia in February 2011, and this month declared price is around US$ 74.05 a ton or 58.28 per cent lower compared to Feb’ 11 benchmark price.
The government of Indonesia was publishing a monthly coal price reference (HBA & HPB) since January 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 31 July 2016), 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 HPB (this month) 30% one month prior HPB and 20% of two-month prior HPB).
The government also declared 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.
The excess of coal supplies and weak demand, fast developments of renewable energy and attractive oil & Gas prices are still to be blamed for obstacle of price recovery or the main reasons for falling of coal prices. The unbalanced supply-and-demand equation means pricing won’t rebound meaningfully and the market becomes buyer's market and giving buyers an advantage over sellers in price negotiations.
According to coal miners, today’s coal price levels are no more supporting any new investments or new explorations in coal mine sectors. Some Indonesian large scale miners are increasing the production to keep their bottom line healthy while some other miners decreasing coal output to keep their coal supply tight. According to market information, small scale coal miners as well as ultra low calorific coal producers either closing down their operation or downscale the operation to keep themselves afloat at this difficult time.
A few large scale coal miners in Indonesia has already reduced their production in 2016 to address the current low price.
Click here for full details of Indonesian coal price reference since January 2009. (cs)
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Wednesday, 06 July 16
KOMIPO INVITES BIDS FOR 780000 MT 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 ...
Wednesday, 06 July 16
MARKET INSIGHT - VASSILIS VASSILIOU
After a fairly silent first half of the year in the ship repair sector, we have finally a harmonized workload in the shipyards around the world. Ma ...
Tuesday, 05 July 16
DRY BULK SHIPPING'S RECOVERY NOT SEEN UNTIL 2018 - SGX
SGX freight derivative volumes totaled 36,542 contracts in June (-28% m/m; +52% y/y), while open interest averaged 121,189 contracts during the mon ...
Tuesday, 05 July 16
SPOT COAL INDEXES FOR INDONESIAN COAL CONTINUE TO HOLD FIRM - CS COAL INDEX
COALspot.com: Average 5000 GAR coal index of Indonesian origin was up by 0.83 percent week over week to averaging $39.98 per ton this past week, sh ...
Monday, 04 July 16
BDI ROSE ON STRONGER DEMAND ACROSS ALL VESSEL SEGMENTS
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities rose this past week. The BDI was up 11.16 percent from la ...
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- Simpson Spence & Young - Indonesia
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- ICICI Bank Limited - India
- Alfred C Toepfer International GmbH - Germany
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- Karbindo Abesyapradhi - Indoneisa
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- Commonwealth Bank - Australia
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- Bhoruka Overseas - Indonesia
- Timah Investasi Mineral - Indoneisa
- Wilmar Investment Holdings
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- Baramulti Group, Indonesia
- Coastal Gujarat Power Limited - India
- Savvy Resources Ltd - HongKong
- Siam City Cement PLC, Thailand
- Mercuria Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Australian Coal Association
- Star Paper Mills Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Electricity Authority, New Zealand
- OPG Power Generation Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- TNB Fuel Sdn Bhd - Malaysia
- Sarangani Energy Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- The Treasury - Australian Government
- GN Power Mariveles Coal Plant, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Sical Logistics Limited - India
- Metalloyd Limited - United Kingdom
- Intertek Mineral Services - Indonesia
- White Energy Company Limited
- McConnell Dowell - Australia
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- Trasteel International SA, Italy
- India Bulls Power Limited - India
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- Ministry of Transport, Egypt
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- Central Electricity Authority - India
- Goldman Sachs - Singapore
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- Uttam Galva Steels Limited - India
- Posco Energy - South Korea
- AsiaOL BioFuels Corp., Philippines
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- South Luzon Thermal Energy Corporation
- Billiton Holdings Pty Ltd - Australia
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- Maheswari Brothers Coal Limited - India
- Parry Sugars Refinery, India
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- Indian Energy Exchange, India
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- Toyota Tsusho Corporation, Japan
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- Dalmia Cement Bharat India
- London Commodity Brokers - England
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- Gujarat Mineral Development Corp Ltd - India
- Power Finance Corporation Ltd., India
- Kobexindo Tractors - Indoneisa
- European Bulk Services B.V. - Netherlands
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- CNBM International Corporation - China
- Malabar Cements Ltd - India
- The State Trading Corporation of India Ltd
- Bukit Baiduri Energy - Indonesia
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- Tamil Nadu electricity Board
- Planning Commission, India
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- Global Green Power PLC Corporation, Philippines
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- Iligan Light & Power Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
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- Agrawal Coal Company - India
- Sindya Power Generating Company Private Ltd
- Kapuas Tunggal Persada - Indonesia
- Merrill Lynch Commodities Europe
- Economic Council, Georgia
- Ministry of Finance - Indonesia
- Pendopo Energi Batubara - Indonesia
- Tata Chemicals Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bharathi Cement Corporation - India
- Sakthi Sugars Limited - India
- Mjunction Services Limited - India
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- PetroVietnam Power Coal Import and Supply Company
- Sojitz Corporation - Japan
- Medco Energi Mining Internasional
- Orica Australia Pty. Ltd.
- Rio Tinto Coal - Australia
- Borneo Indobara - Indonesia
- Semirara Mining Corp, Philippines
- Straits Asia Resources Limited - Singapore
- Mintek Dendrill Indonesia
- Miang Besar Coal Terminal - Indonesia
- Kepco SPC Power Corporation, Philippines
- SMC Global Power, Philippines
- Vizag Seaport Private Limited - India
- Banpu Public Company Limited - Thailand
- Cigading International Bulk Terminal - Indonesia
- Ambuja Cements Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Kaltim Prima Coal - Indonesia
- Orica Mining Services - Indonesia
- Deloitte Consulting - India
- Ind-Barath Power Infra Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indonesian Coal Mining Association
- GVK Power & Infra Limited - India
- Global Coal Blending Company Limited - Australia
- MS Steel International - UAE
- Bukit Makmur.PT - Indonesia
- Energy Development Corp, Philippines
- Bhatia International Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Africa Commodities Group - South Africa
- Mercator Lines Limited - India
- Standard Chartered Bank - UAE
- Energy Link Ltd, New Zealand
- Petron Corporation, Philippines
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