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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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Tuesday, 21 February 17
CHINA SUSPENDS COAL IMPORTS FROM NORTH KOREA FROM 19 FEB
COALspot.com: China is suspended coal imports from North Korea until December 2017. China says it will suspend all imports of coal from North Korea ...
Monday, 20 February 17
OCEAN FREIGHT RATES SLIGHTLY UP WEEK OVER WEEK
COALspot.com: The Freight market was firmed up this past week. The Panamax segment was declined for the week ending 17 February 2017.
The Balt ...
Friday, 17 February 17
U.S. COAL PRODUCTION SLIPS SLIGHTLY WEEK OVER WEEK, SAYS EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 16.5 million sh ...
Thursday, 16 February 17
CAPE MARKET HAVE EXPERIENCED A STRONG DOWNTURN - FEARNLEYS
Supramax
Market has shifted sides from Atlantic to Pacific, where Atlantic is now lagging behind with little action and sliding indices, notably ...
Thursday, 16 February 17
IF I PLAN TO UNDERTAKE A CHARTERPARTY WITH AN UNFAMILIAR ENTITY, WHAT STEPS CAN I TAKE TO ENSURE THE CHARTERER WILL PAY THEIR HIRE? - SHIPOWNERS' CLUB
KNOWLEDGE TO ELEVATE
Due to the difficult conditions currently existing in the shipping market, particularly in the offshore sector, Members a ...
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- Indo Tambangraya Megah - Indonesia
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- Eastern Coal Council - USA
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- London Commodity Brokers - England
- Binh Thuan Hamico - Vietnam
- Neyveli Lignite Corporation Ltd, - India
- European Bulk Services B.V. - Netherlands
- Indian Oil Corporation Limited
- Port Waratah Coal Services - Australia
- Iligan Light & Power Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Goldman Sachs - Singapore
- Electricity Authority, New Zealand
- Jorong Barutama Greston.PT - Indonesia
- Videocon Industries ltd - India
- Ministry of Transport, Egypt
- Ministry of Finance - Indonesia
- White Energy Company Limited
- Coalindo Energy - Indonesia
- Petron Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Asmin Koalindo Tuhup - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Straits Asia Resources Limited - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Semirara Mining Corp, Philippines
- Gujarat Sidhee Cement - India
- Uttam Galva Steels Limited - India
- Globalindo Alam Lestari - Indonesia
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- SMG Consultants - Indonesia
- Kobexindo Tractors - Indoneisa
- Sical Logistics Limited - India
- Oldendorff Carriers - Singapore
- Minerals Council of Australia
- Kideco Jaya Agung - Indonesia
- Romanian Commodities Exchange
- Miang Besar Coal Terminal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Alfred C Toepfer International GmbH - Germany
- Banpu Public Company Limited - Thailand
- Riau Bara Harum - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bhoruka Overseas - Indonesia
- ASAPP Information Group - India
- Thiess Contractors Indonesia
- Africa Commodities Group - South Africa
- Merrill Lynch Commodities Europe
- Bulk Trading Sa - Switzerland
- Holcim Trading Pte Ltd - Singapore
- Semirara Mining and Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Manunggal Multi Energi - Indonesia
- Edison Trading Spa - Italy
- Jindal Steel & Power Ltd - India
- Agrawal Coal Company - India
- Grasim Industreis Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Australian Coal Association
- Leighton Contractors Pty Ltd - Australia
- Altura Mining Limited, Indonesia
- Electricity Generating Authority of Thailand
- Mjunction Services Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Aditya Birla Group - India
- Rashtriya Ispat Nigam Limited - India
- Orica Mining Services - Indonesia
- Timah Investasi Mineral - Indoneisa
- GVK Power & Infra Limited - India
- Deloitte Consulting - India
- Larsen & Toubro Limited - India
- Meralco Power Generation, Philippines
- Rio Tinto Coal - Australia
- Parry Sugars Refinery, India
- Mintek Dendrill Indonesia
- Commonwealth Bank - Australia
- Siam City Cement PLC, Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
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- Parliament of New Zealand
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- Metalloyd Limited - United Kingdom
- Formosa Plastics Group - Taiwan
- Dalmia Cement Bharat India
- GMR Energy Limited - India
- Lanco Infratech Ltd - India
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- Aboitiz Power Corporation - Philippines
- Billiton Holdings Pty Ltd - Australia
- Chamber of Mines of South Africa
- Bhatia International Limited - India
- Xindia Steels Limited - India
- Latin American Coal - Colombia
- Indonesian Coal Mining Association
- Independent Power Producers Association of India
- GAC Shipping (India) Pvt Ltd
- Global Coal Blending Company Limited - Australia
- Eastern Energy - Thailand
- LBH Netherlands Bv - Netherlands
- Kapuas Tunggal Persada - Indonesia
- Meenaskhi Energy Private Limited - India
- PNOC Exploration Corporation - Philippines
- Antam Resourcindo - Indonesia
- Makarim & Taira - Indonesia
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- Toyota Tsusho Corporation, Japan
- Standard Chartered Bank - UAE
- Indogreen Group - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Global Business Power Corporation, Philippines
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- Bukit Asam (Persero) Tbk - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- New Zealand Coal & Carbon
- Directorate Of Revenue Intelligence - India
- IEA Clean Coal Centre - UK
- Interocean Group of Companies - India
- Tamil Nadu electricity Board
- Pipit Mutiara Jaya. PT, Indonesia
- CIMB Investment Bank - Malaysia
- Karbindo Abesyapradhi - Indoneisa
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- Anglo American - United Kingdom
- GN Power Mariveles Coal Plant, Philippines
- Intertek Mineral Services - Indonesia
- India Bulls Power Limited - India
- San Jose City I Power Corp, Philippines
- Bukit Makmur.PT - Indonesia
- Sojitz Corporation - Japan
- Central Electricity Authority - India
- Indika Energy - Indonesia
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- Indian Energy Exchange, India
- ICICI Bank Limited - India
- The State Trading Corporation of India Ltd
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- VISA Power Limited - India
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- Medco Energi Mining Internasional
- Therma Luzon, Inc, Philippines
- SMC Global Power, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Ind-Barath Power Infra Limited - India
- Malabar Cements Ltd - India
- Bharathi Cement Corporation - India
- Mercuria Energy - Indonesia
- MS Steel International - UAE
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- Orica Australia Pty. Ltd.
- Wilmar Investment Holdings
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- Power Finance Corporation Ltd., India
- Mercator Lines Limited - India
- Star Paper Mills Limited - India
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- Simpson Spence & Young - Indonesia
- Posco Energy - South Korea
- Cigading International Bulk Terminal - Indonesia
- Essar Steel Hazira Ltd - India
- Pendopo Energi Batubara - Indonesia
- PTC India Limited - India
- Georgia Ports Authority, United States
- Bukit Baiduri Energy - Indonesia
- Energy Development Corp, Philippines
- Coal and Oil Company - UAE
- Price Waterhouse Coopers - Russia
- Singapore Mercantile Exchange
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- Thai Mozambique Logistica
- Ministry of Mines - Canada
- Economic Council, Georgia
- Jaiprakash Power Ventures ltd
- Tata Chemicals Ltd - India
- International Coal Ventures Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
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- Bayan Resources Tbk. - Indonesia
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- Ceylon Electricity Board - Sri Lanka
- Attock Cement Pakistan Limited
- Samtan Co., Ltd - South Korea
- Energy Link Ltd, New Zealand
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- Bhushan Steel Limited - India
- Salva Resources Pvt Ltd - India
- CNBM International Corporation - China
- Bangladesh Power Developement Board
- The Treasury - Australian Government
- Krishnapatnam Port Company Ltd. - India
- The University of Queensland
- Gujarat Electricity Regulatory Commission - India
- Kumho Petrochemical, South Korea
- Wood Mackenzie - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- IHS Mccloskey Coal Group - USA
- Renaissance Capital - South Africa
- Vedanta Resources Plc - India
- Trasteel International SA, Italy
- Baramulti Group, Indonesia
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- Savvy Resources Ltd - HongKong
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