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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, 12 April 17
SHIPPING MARKET INSIGHT - VASSILIS VASSILIOU
The first quarter of 2017 started relatively busy for the ship repair sector, with most of the repair facilities being nearly fully occupied till t ...
Monday, 10 April 17
THE CAPE INDEX WAS DOWN BY 16.32% WEEK OVER WEEK
COALspot.com: The Freight market was steady week over a week except for Cape. The cape index was down 16.32 percent week over week.
The Baltic ...
Friday, 07 April 17
INDONESIAN GOVERNMENT DECLARED SPOT COAL PRICES STAGE FIRST INCREASE OF THE YEAR
COALspot.com: Indonesian government declared coal benchmark price rose slightly in April, government data showed.
The benchmark price of Indon ...
Friday, 07 April 17
U.S WEEKLY COAL OUTPUT ALMOST FLAT WEEK OVER WEEK - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 14.5 million short tons ...
Thursday, 06 April 17
PANAMAX: THE MARKET HAS CONTINUED THE FIRM SENTIMENT FROM LAST WEEK IN BOTH HEMISPHERES - FEARNLEYS
Supramax
With holidays in Asia, the week has started very slow in Pacific. Some fixtures have still been done and levels have remained quite stab ...
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- Miang Besar Coal Terminal - Indonesia
- Global Business Power Corporation, Philippines
- The Treasury - Australian Government
- Ministry of Mines - Canada
- Vijayanagar Sugar Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Samtan Co., Ltd - South Korea
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- IHS Mccloskey Coal Group - USA
- Pipit Mutiara Jaya. PT, Indonesia
- Vedanta Resources Plc - India
- Kobexindo Tractors - Indoneisa
- Parry Sugars Refinery, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Orica Mining Services - Indonesia
- Coalindo Energy - Indonesia
- Energy Development Corp, Philippines
- Tamil Nadu electricity Board
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- White Energy Company Limited
- Kumho Petrochemical, South Korea
- Ministry of Finance - Indonesia
- Eastern Coal Council - USA
- San Jose City I Power Corp, Philippines
- Salva Resources Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Banpu Public Company Limited - Thailand
- Pendopo Energi Batubara - Indonesia
- Cement Manufacturers Association - India
- Power Finance Corporation Ltd., India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Medco Energi Mining Internasional
- GMR Energy Limited - India
- Antam Resourcindo - Indonesia
- Commonwealth Bank - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Gujarat Sidhee Cement - India
- Maharashtra Electricity Regulatory Commission - India
- Sindya Power Generating Company Private Ltd
- Semirara Mining and Power Corporation, Philippines
- Sakthi Sugars Limited - India
- Wood Mackenzie - Singapore
- Maheswari Brothers Coal Limited - India
- The State Trading Corporation of India Ltd
- Edison Trading Spa - Italy
- Agrawal Coal Company - India
- Borneo Indobara - Indonesia
- Intertek Mineral Services - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Indo Tambangraya Megah - Indonesia
- Georgia Ports Authority, United States
- Energy Link Ltd, New Zealand
- Mercuria Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- New Zealand Coal & Carbon
- Globalindo Alam Lestari - Indonesia
- Interocean Group of Companies - India
- Alfred C Toepfer International GmbH - Germany
- Goldman Sachs - Singapore
- Ceylon Electricity Board - Sri Lanka
- Economic Council, Georgia
- Eastern Energy - Thailand
- MS Steel International - UAE
- Kideco Jaya Agung - Indonesia
- Bhatia International Limited - India
- Renaissance Capital - South Africa
- Mercator Lines Limited - India
- Marubeni Corporation - India
- Merrill Lynch Commodities Europe
- CNBM International Corporation - China
- Anglo American - United Kingdom
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Planning Commission, India
- Bharathi Cement Corporation - India
- Mintek Dendrill Indonesia
- Altura Mining Limited, Indonesia
- Minerals Council of Australia
- Carbofer General Trading SA - India
- Indika Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Port Waratah Coal Services - Australia
- Jorong Barutama Greston.PT - Indonesia
- Oldendorff Carriers - Singapore
- Thiess Contractors Indonesia
- OPG Power Generation Pvt Ltd - India
- Thai Mozambique Logistica
- McConnell Dowell - Australia
- Gujarat Mineral Development Corp Ltd - India
- Bulk Trading Sa - Switzerland
- Deloitte Consulting - India
- ICICI Bank Limited - India
- Mjunction Services Limited - India
- Directorate General of MIneral and Coal - Indonesia
- European Bulk Services B.V. - Netherlands
- Cigading International Bulk Terminal - Indonesia
- ASAPP Information Group - India
- Africa Commodities Group - South Africa
- AsiaOL BioFuels Corp., Philippines
- GAC Shipping (India) Pvt Ltd
- India Bulls Power Limited - India
- Kohat Cement Company Ltd. - Pakistan
- PNOC Exploration Corporation - Philippines
- Latin American Coal - Colombia
- Formosa Plastics Group - Taiwan
- Sojitz Corporation - Japan
- Lanco Infratech Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Star Paper Mills Limited - India
- SN Aboitiz Power Inc, Philippines
- Bhoruka Overseas - Indonesia
- Rio Tinto Coal - Australia
- Meralco Power Generation, Philippines
- Price Waterhouse Coopers - Russia
- Indian Oil Corporation Limited
- Tata Chemicals Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Electricity Authority, New Zealand
- Standard Chartered Bank - UAE
- Kartika Selabumi Mining - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Coastal Gujarat Power Limited - India
- Australian Commodity Traders Exchange
- Sical Logistics Limited - India
- SMG Consultants - Indonesia
- Independent Power Producers Association of India
- Directorate Of Revenue Intelligence - India
- Essar Steel Hazira Ltd - India
- Indian Energy Exchange, India
- Heidelberg Cement - Germany
- Kaltim Prima Coal - Indonesia
- Central Java Power - Indonesia
- Grasim Industreis Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Siam City Cement PLC, Thailand
- Barasentosa Lestari - Indonesia
- Metalloyd Limited - United Kingdom
- Malabar Cements Ltd - India
- Holcim Trading Pte Ltd - Singapore
- PTC India Limited - India
- Singapore Mercantile Exchange
- Vizag Seaport Private Limited - India
- Madhucon Powers Ltd - India
- Kepco SPC Power Corporation, Philippines
- Larsen & Toubro Limited - India
- International Coal Ventures Pvt Ltd - India
- Indogreen Group - Indonesia
- Aditya Birla Group - India
- Riau Bara Harum - Indonesia
- Binh Thuan Hamico - Vietnam
- Attock Cement Pakistan Limited
- GVK Power & Infra Limited - India
- CIMB Investment Bank - Malaysia
- Aboitiz Power Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Rashtriya Ispat Nigam Limited - India
- Jindal Steel & Power Ltd - India
- Siam City Cement - Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Global Coal Blending Company Limited - Australia
- South Luzon Thermal Energy Corporation
- Baramulti Group, Indonesia
- Iligan Light & Power Inc, Philippines
- Videocon Industries ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Jaiprakash Power Ventures ltd
- Electricity Generating Authority of Thailand
- Semirara Mining Corp, Philippines
- Bhushan Steel Limited - India
- Parliament of New Zealand
- VISA Power Limited - India
- PowerSource Philippines DevCo
- Uttam Galva Steels Limited - India
- The University of Queensland
- Ambuja Cements Ltd - India
- Central Electricity Authority - India
- Ministry of Transport, Egypt
- Australian Coal Association
- Posco Energy - South Korea
- Therma Luzon, Inc, Philippines
- London Commodity Brokers - England
- Romanian Commodities Exchange
- Makarim & Taira - Indonesia
- SMC Global Power, Philippines
- Chamber of Mines of South Africa
- Chettinad Cement Corporation Ltd - India
- Straits Asia Resources Limited - Singapore
- Meenaskhi Energy Private Limited - India
- Orica Australia Pty. Ltd.
- Coal and Oil Company - UAE
- Xindia Steels Limited - India
- Trasteel International SA, Italy
- PetroVietnam Power Coal Import and Supply Company
- Krishnapatnam Port Company Ltd. - India
- Simpson Spence & Young - Indonesia
- Ind-Barath Power Infra Limited - India
- Indonesian Coal Mining Association
- Manunggal Multi Energi - Indonesia
- LBH Netherlands Bv - Netherlands
- Bangladesh Power Developement Board
- Petron Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Global Green Power PLC Corporation, Philippines
- IEA Clean Coal Centre - UK
- Billiton Holdings Pty Ltd - Australia
- Bukit Makmur.PT - Indonesia
- Sarangani Energy Corporation, Philippines
- Dalmia Cement Bharat India
- Bukit Baiduri Energy - Indonesia
- Wilmar Investment Holdings
- Toyota Tsusho Corporation, Japan
- Bayan Resources Tbk. - Indonesia
- Kapuas Tunggal Persada - Indonesia
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