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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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Thursday, 30 March 17
WHERE AN AGREEMENT FAILS TO DELIVER - WATSON FARLEY & WILLIAMS
KNOWLEDGE TO ELEVATE
Watson Farley & Williams acted for MRI Trading AG in a leading case on ‘agreements to agree’ that was fin ...
Thursday, 30 March 17
PANAMAX : ACTIVITY IN THE PANAMAX MARKET HAS INCREASED SUBSTANTIALLY IN BOTH HEMISPHERES - FEARNLEYS
Supramax
This week we were looking at prolonged activity from ECSA, mostly with grain cargoes to Far East and SE Asia, where Ultras to SE Asia fi ...
Thursday, 30 March 17
THE ROLE OF COAL IN THE ENERGY SUPPLY OF THE EU-28: HANS-WILHELM SCHIFFER
The European Union (EU-28) is one of the largest economies in the world, with a gross domestic product (GDP) of €14,635 billion in 2015. It ha ...
Wednesday, 29 March 17
MARKET INSIGHT - NASOS SOULAKIS
Shipowners will always look for market signals in order to gauge market perception and decide upon which strategy to follow next. And while owners ...
Monday, 27 March 17
THE FREIGHT MARKET CONTINUED TO FIRM WEEK OVER WEEK
COALspot.com: The Freight market was continuing to firming up.
The Baltic Exchange, tracking rates for ships carrying dry bulk commodities ros ...
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- Parliament of New Zealand
- Jaiprakash Power Ventures ltd
- VISA Power Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Edison Trading Spa - Italy
- Romanian Commodities Exchange
- Trasteel International SA, Italy
- Economic Council, Georgia
- Ministry of Transport, Egypt
- Samtan Co., Ltd - South Korea
- Thiess Contractors Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Iligan Light & Power Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- New Zealand Coal & Carbon
- Bhatia International Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Maheswari Brothers Coal Limited - India
- Sindya Power Generating Company Private Ltd
- GVK Power & Infra Limited - India
- IEA Clean Coal Centre - UK
- White Energy Company Limited
- Attock Cement Pakistan Limited
- Karaikal Port Pvt Ltd - India
- PTC India Limited - India
- Bharathi Cement Corporation - India
- Planning Commission, India
- Antam Resourcindo - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- India Bulls Power Limited - India
- Uttam Galva Steels Limited - India
- Wood Mackenzie - Singapore
- Thai Mozambique Logistica
- GN Power Mariveles Coal Plant, Philippines
- Mercuria Energy - Indonesia
- Semirara Mining Corp, Philippines
- Salva Resources Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Bangladesh Power Developement Board
- Savvy Resources Ltd - HongKong
- IHS Mccloskey Coal Group - USA
- Jorong Barutama Greston.PT - Indonesia
- Latin American Coal - Colombia
- Leighton Contractors Pty Ltd - Australia
- Central Electricity Authority - India
- Kapuas Tunggal Persada - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Sical Logistics Limited - India
- Sarangani Energy Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- San Jose City I Power Corp, Philippines
- Makarim & Taira - Indonesia
- Georgia Ports Authority, United States
- Barasentosa Lestari - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- ICICI Bank Limited - India
- Directorate Of Revenue Intelligence - India
- Wilmar Investment Holdings
- Siam City Cement - Thailand
- SMC Global Power, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Timah Investasi Mineral - Indoneisa
- Kepco SPC Power Corporation, Philippines
- Siam City Cement PLC, Thailand
- Banpu Public Company Limited - Thailand
- SN Aboitiz Power Inc, Philippines
- Indogreen Group - Indonesia
- Simpson Spence & Young - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Bayan Resources Tbk. - Indonesia
- Price Waterhouse Coopers - Russia
- Electricity Generating Authority of Thailand
- Marubeni Corporation - India
- Ministry of Mines - Canada
- Kohat Cement Company Ltd. - Pakistan
- Central Java Power - Indonesia
- Ind-Barath Power Infra Limited - India
- Vizag Seaport Private Limited - India
- Binh Thuan Hamico - Vietnam
- Agrawal Coal Company - India
- Kalimantan Lumbung Energi - Indonesia
- Commonwealth Bank - Australia
- Riau Bara Harum - Indonesia
- Indonesian Coal Mining Association
- CNBM International Corporation - China
- Mintek Dendrill Indonesia
- Chamber of Mines of South Africa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Africa Commodities Group - South Africa
- Oldendorff Carriers - Singapore
- Renaissance Capital - South Africa
- Pipit Mutiara Jaya. PT, Indonesia
- TeaM Sual Corporation - Philippines
- Minerals Council of Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Semirara Mining and Power Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Aboitiz Power Corporation - Philippines
- Heidelberg Cement - Germany
- Lanco Infratech Ltd - India
- London Commodity Brokers - England
- Port Waratah Coal Services - Australia
- GMR Energy Limited - India
- Standard Chartered Bank - UAE
- ASAPP Information Group - India
- LBH Netherlands Bv - Netherlands
- Star Paper Mills Limited - India
- Indo Tambangraya Megah - Indonesia
- Petron Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Ambuja Cements Ltd - India
- Rio Tinto Coal - Australia
- Meenaskhi Energy Private Limited - India
- Intertek Mineral Services - Indonesia
- MS Steel International - UAE
- Kobexindo Tractors - Indoneisa
- Mjunction Services Limited - India
- Manunggal Multi Energi - Indonesia
- Tata Chemicals Ltd - India
- Bulk Trading Sa - Switzerland
- Cigading International Bulk Terminal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Baramulti Group, Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Gujarat Sidhee Cement - India
- Goldman Sachs - Singapore
- Borneo Indobara - Indonesia
- Toyota Tsusho Corporation, Japan
- Indian Energy Exchange, India
- Parry Sugars Refinery, India
- Chettinad Cement Corporation Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Energy Link Ltd, New Zealand
- Sakthi Sugars Limited - India
- Eastern Coal Council - USA
- Kaltim Prima Coal - Indonesia
- Coal and Oil Company - UAE
- The State Trading Corporation of India Ltd
- Globalindo Alam Lestari - Indonesia
- Energy Development Corp, Philippines
- Australian Commodity Traders Exchange
- Altura Mining Limited, Indonesia
- Madhucon Powers Ltd - India
- Deloitte Consulting - India
- Dalmia Cement Bharat India
- Jindal Steel & Power Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Directorate General of MIneral and Coal - Indonesia
- PNOC Exploration Corporation - Philippines
- Sinarmas Energy and Mining - Indonesia
- Formosa Plastics Group - Taiwan
- Global Green Power PLC Corporation, Philippines
- Metalloyd Limited - United Kingdom
- South Luzon Thermal Energy Corporation
- Power Finance Corporation Ltd., India
- Australian Coal Association
- Bank of Tokyo Mitsubishi UFJ Ltd
- Independent Power Producers Association of India
- SMG Consultants - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Larsen & Toubro Limited - India
- Orica Australia Pty. Ltd.
- European Bulk Services B.V. - Netherlands
- McConnell Dowell - Australia
- Indika Energy - Indonesia
- The Treasury - Australian Government
- Eastern Energy - Thailand
- Global Business Power Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Bhushan Steel Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Cement Manufacturers Association - India
- Electricity Authority, New Zealand
- Therma Luzon, Inc, Philippines
- Grasim Industreis Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- International Coal Ventures Pvt Ltd - India
- PowerSource Philippines DevCo
- Xindia Steels Limited - India
- Indian Oil Corporation Limited
- Aditya Birla Group - India
- Vedanta Resources Plc - India
- Medco Energi Mining Internasional
- Meralco Power Generation, Philippines
- Merrill Lynch Commodities Europe
- The University of Queensland
- Coalindo Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- Rashtriya Ispat Nigam Limited - India
- Carbofer General Trading SA - India
- Kideco Jaya Agung - Indonesia
- Videocon Industries ltd - India
- Pendopo Energi Batubara - Indonesia
- Anglo American - United Kingdom
- Ministry of Finance - Indonesia
- Miang Besar Coal Terminal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Mercator Lines Limited - India
- CIMB Investment Bank - Malaysia
- Sojitz Corporation - Japan
- Malabar Cements Ltd - India
- Singapore Mercantile Exchange
- Alfred C Toepfer International GmbH - Germany
- Tamil Nadu electricity Board
- Coastal Gujarat Power Limited - India
- Bukit Baiduri Energy - Indonesia
- Interocean Group of Companies - India
- Posco Energy - South Korea
- Orica Mining Services - Indonesia
- OPG Power Generation Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Bhoruka Overseas - Indonesia
- Krishnapatnam Port Company Ltd. - India
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