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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, 16 March 17
CAPESIZE: SHOWING STRENGTH; PANAMAX: VERY QUIET - FEARNLEYS
Supramax
The Atlantic market faced less activity from the USG whereas at the Cont tonnage seemed to tighten up with more cargoes emerging. Despit ...
Wednesday, 15 March 17
SHIPPING MARKET INSIGHT - GEORGE PANAGOPOULOS
Over the past two weeks, the Dry Baltic Index has been on an upward trend, breaking the 1000 point mark and creating a positive sentiment for the u ...
Tuesday, 14 March 17
ORDERBOOK-TO-FEET RATIO DECREASING; THE FREIGHT MARKET IMPROVING
It seems as though the renewed optimism that has arisen from the recent upward trends being noted in the freight market, the dry bulk market has be ...
Monday, 13 March 17
PORT OF NEWCASTLE HAS SHIPPED 11.563 MILLION TONS COAL IN FEBRUARY 2017; DECLINED 12.19 PERCENT M/M
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export ports has shipped $AU 1,4 ...
Monday, 13 March 17
INDO - INDIA COAL FREIGHT RATES STAY FIRM
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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- Romanian Commodities Exchange
- Australian Coal Association
- Intertek Mineral Services - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Savvy Resources Ltd - HongKong
- Parry Sugars Refinery, India
- Directorate Of Revenue Intelligence - India
- Trasteel International SA, Italy
- Metalloyd Limited - United Kingdom
- Africa Commodities Group - South Africa
- Vedanta Resources Plc - India
- Thai Mozambique Logistica
- MS Steel International - UAE
- Bukit Makmur.PT - Indonesia
- ICICI Bank Limited - India
- Samtan Co., Ltd - South Korea
- Medco Energi Mining Internasional
- TeaM Sual Corporation - Philippines
- Mercator Lines Limited - India
- Barasentosa Lestari - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Leighton Contractors Pty Ltd - Australia
- Neyveli Lignite Corporation Ltd, - India
- Cigading International Bulk Terminal - Indonesia
- Ambuja Cements Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Iligan Light & Power Inc, Philippines
- Carbofer General Trading SA - India
- Economic Council, Georgia
- Xindia Steels Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Globalindo Alam Lestari - Indonesia
- Ceylon Electricity Board - Sri Lanka
- The State Trading Corporation of India Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Kobexindo Tractors - Indoneisa
- Gujarat Sidhee Cement - India
- Indonesian Coal Mining Association
- Timah Investasi Mineral - Indoneisa
- Mjunction Services Limited - India
- Bharathi Cement Corporation - India
- Kartika Selabumi Mining - Indonesia
- Global Green Power PLC Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Attock Cement Pakistan Limited
- Meralco Power Generation, Philippines
- Vizag Seaport Private Limited - India
- Kumho Petrochemical, South Korea
- Altura Mining Limited, Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Mercuria Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- PTC India Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PNOC Exploration Corporation - Philippines
- Minerals Council of Australia
- Wood Mackenzie - Singapore
- Sinarmas Energy and Mining - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Maheswari Brothers Coal Limited - India
- Riau Bara Harum - Indonesia
- Banpu Public Company Limited - Thailand
- McConnell Dowell - Australia
- Siam City Cement PLC, Thailand
- Edison Trading Spa - Italy
- European Bulk Services B.V. - Netherlands
- Indogreen Group - Indonesia
- Eastern Coal Council - USA
- Borneo Indobara - Indonesia
- Binh Thuan Hamico - Vietnam
- Makarim & Taira - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- CIMB Investment Bank - Malaysia
- The Treasury - Australian Government
- Kapuas Tunggal Persada - Indonesia
- IHS Mccloskey Coal Group - USA
- Grasim Industreis Ltd - India
- Wilmar Investment Holdings
- Electricity Authority, New Zealand
- Tamil Nadu electricity Board
- Gujarat Electricity Regulatory Commission - India
- Straits Asia Resources Limited - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Ministry of Mines - Canada
- Australian Commodity Traders Exchange
- Ind-Barath Power Infra Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Lanco Infratech Ltd - India
- GVK Power & Infra Limited - India
- VISA Power Limited - India
- Essar Steel Hazira Ltd - India
- Standard Chartered Bank - UAE
- Formosa Plastics Group - Taiwan
- Larsen & Toubro Limited - India
- Electricity Generating Authority of Thailand
- Bhoruka Overseas - Indonesia
- Bhatia International Limited - India
- Energy Development Corp, Philippines
- Planning Commission, India
- Toyota Tsusho Corporation, Japan
- Commonwealth Bank - Australia
- Petron Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Bangladesh Power Developement Board
- Simpson Spence & Young - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Kepco SPC Power Corporation, Philippines
- Global Business Power Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Semirara Mining Corp, Philippines
- Central Electricity Authority - India
- GAC Shipping (India) Pvt Ltd
- Aboitiz Power Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- PowerSource Philippines DevCo
- Agrawal Coal Company - India
- Siam City Cement - Thailand
- Oldendorff Carriers - Singapore
- Star Paper Mills Limited - India
- ASAPP Information Group - India
- South Luzon Thermal Energy Corporation
- Power Finance Corporation Ltd., India
- White Energy Company Limited
- Orica Australia Pty. Ltd.
- IEA Clean Coal Centre - UK
- Videocon Industries ltd - India
- Renaissance Capital - South Africa
- Indian Oil Corporation Limited
- Meenaskhi Energy Private Limited - India
- Thiess Contractors Indonesia
- Holcim Trading Pte Ltd - Singapore
- Madhucon Powers Ltd - India
- Indo Tambangraya Megah - Indonesia
- Energy Link Ltd, New Zealand
- Posco Energy - South Korea
- Price Waterhouse Coopers - Russia
- Bulk Trading Sa - Switzerland
- Bukit Baiduri Energy - Indonesia
- Goldman Sachs - Singapore
- Karbindo Abesyapradhi - Indoneisa
- CNBM International Corporation - China
- Orica Mining Services - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Rashtriya Ispat Nigam Limited - India
- Heidelberg Cement - Germany
- Aditya Birla Group - India
- Coal and Oil Company - UAE
- SN Aboitiz Power Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- AsiaOL BioFuels Corp., Philippines
- Pendopo Energi Batubara - Indonesia
- Malabar Cements Ltd - India
- Coastal Gujarat Power Limited - India
- Kideco Jaya Agung - Indonesia
- Latin American Coal - Colombia
- Antam Resourcindo - Indonesia
- Ministry of Transport, Egypt
- PetroVietnam Power Coal Import and Supply Company
- Dalmia Cement Bharat India
- Jaiprakash Power Ventures ltd
- Tata Chemicals Ltd - India
- Rio Tinto Coal - Australia
- Global Coal Blending Company Limited - Australia
- Anglo American - United Kingdom
- Parliament of New Zealand
- Bhushan Steel Limited - India
- Merrill Lynch Commodities Europe
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- India Bulls Power Limited - India
- Chamber of Mines of South Africa
- Salva Resources Pvt Ltd - India
- Sojitz Corporation - Japan
- Chettinad Cement Corporation Ltd - India
- Bayan Resources Tbk. - Indonesia
- Georgia Ports Authority, United States
- Sical Logistics Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Interocean Group of Companies - India
- Maharashtra Electricity Regulatory Commission - India
- Indian Energy Exchange, India
- San Jose City I Power Corp, Philippines
- SMG Consultants - Indonesia
- Eastern Energy - Thailand
- Sarangani Energy Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- LBH Netherlands Bv - Netherlands
- Manunggal Multi Energi - Indonesia
- New Zealand Coal & Carbon
- Kaltim Prima Coal - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Port Waratah Coal Services - Australia
- Indika Energy - Indonesia
- Cement Manufacturers Association - India
- SMC Global Power, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Karaikal Port Pvt Ltd - India
- Ministry of Finance - Indonesia
- The University of Queensland
- Singapore Mercantile Exchange
- Alfred C Toepfer International GmbH - Germany
- Jindal Steel & Power Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mintek Dendrill Indonesia
- Sakthi Sugars Limited - India
- Uttam Galva Steels Limited - India
- Semirara Mining and Power Corporation, Philippines
- Baramulti Group, Indonesia
- Independent Power Producers Association of India
- Deloitte Consulting - India
- Coalindo Energy - Indonesia
- GMR Energy Limited - India
- London Commodity Brokers - England
- Marubeni Corporation - India
- Central Java Power - Indonesia
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