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Monday, 10 October 16
INDONESIAN COAL PRICE REFERENCE HITS HIGHEST LEVELS SINCE SEPTEMBER 2014
.jpg) COALspot.com: The Indonesia coal benchmark price hits to its highest level since September 2014. The government declared benchmark prices for Indonesian thermal coal rose for five months in a row.
The Director General of Mineral and Coal of Indonesia, the regulator of Coal industry in Indonesia who has an authority to declare the monthly benchmark price for Indonesian thermal coal, had declared October 2016 HBA at US$ 69.07 per ton for 6322 GAR power plant coal.
DGoMC has increased the monthly Indonesian thermal coal price reference for October delivery by 8.04% a ton. In the meantime, the October 2016 HBA was 20.35% higher the comparable period in 2015.
The Indonesian coal price reference of October 2016 raised US$ 5.14 a ton from September 2016. 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 fulfil 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$ 17.07 a ton (up 8.04% 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 October 2016 FOB vessel delivery. In the meantime, the government is also declared US$ 49.56 per ton as HPB for 5000 GAR coal with total moisture 22.40%, Ash 8.90% and Sulphur 0.54% for October 2016 deliveries.
The declared Indonesia thermal coal reference price for February 2016 (or called HBA) was the lowest in 94 months or since launching of HBA by the government of Indonesia. The royalty and taxes will be calculated based on this declared HPB.
Indonesian coal benchmark price for October 2016 was calculated based on calorific value of 6,322 kcal/kg (GAR), stated to be using a formula based on the September 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 October 2016.
The highest benchmark price was declared by the Ministry of Energy & Mineral Resources of Indonesia in February 2011, and this month declared price was around US$ 57.98 a ton or 45.64 per cent lower compared to Feb’ 2011 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 October 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'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 are starting to zoom higher and moving towards North. Continuation of China’s production cuts caused more imports into China and supported the global coal price. The market players are forecasting that, the coal prices will likely surge further in 2016 as the recent price movement suggesting that the market has overcome the bearish trend which disturbed the industry for a very long period.
The coal market was oversupplied due to high production and sluggish demand for coal consuming countries in the past few years. Even thou the oversupply issue were still not vanished away completely, the current levels of coal output are still huge, but the recent changes in coal producing countries except India are definitely indicating a tightening on output. The tight market is expected to drive the coal prices further up in the coming weeks/ months unless the China reduces its control on tight production policy and change its buying pattern.
Indonesia has reduced coal output by 30% year on year in the first six months of 2016 and the country’s exports for the same period declined 32% while domestic consumption increased 8%. India is still on its track to achieve a billion tons of coal output by 2019 / 2020 and no sign of coal output cut is seen.
Click here for full details of Indonesian coal price reference since January 2009.(cs)
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Wednesday, 12 October 16
MARKET INSIGHT - LINOS KOGEVINAS
Another Monday has gone by, bringing with it further turbulence for oil. A series of meetings between high-production nations Russia & Saudi Ar ...
Wednesday, 12 October 16
INDIAN STEELMAKERS' DELEVERAGING AT RISK ON COKING COAL PRICE JUMP - FITCH
The sharp increase in coking coal prices since August 2016 could squeeze Indian steelmakers' profitability and threaten their deleveraging, Fit ...
Wednesday, 12 October 16
UK SEABORNE COAL IMPORT PLUNGES 64% AS A WORRYING TREND LURKS - BIMCO
The main exporters of thermal coal for coal- fired power plants to the United Kingdom (UK) have experienced a heavy decline in seaborne cargo volum ...
Monday, 10 October 16
THE FREIGHT MARKET FIRMS UP ON STRONG CAPE PERFORMANCE
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities rose again and ending in a positive note this past week. ...
Friday, 07 October 16
INDONESIA'S DEMAND FOR COAL REMAINS STRONG: BP
Indonesia's domestic demand for coal shows no sign of slowing down as the country is banking on its coal abundance to meet the country' ...
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