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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, 15 February 17
SHIPPING MARKET INSIGHT - INTERMODAL
Looking at the state of the Dry Bulk market exactly a year ago, there is no doubt that there is a significant improvement and despite the fact that ...
Tuesday, 14 February 17
OPTIMISM HAS STARTED TO SLOWLY FLOW BACK INTO THE DRY BULK MARKET - GEORGE LAZARIDIS
Optimism has started to slowly flow back into the dry bulk market, with many in the market showing renewed optimism as the Pacific basin starts to ...
Monday, 13 February 17
COMBINED COAL SALES OF BUMI RESOURCES ROSE TO 87.7 MILLION TONS IN FY'16; UP 10.6 PERCENT Y/Y
COALspot.com: Combined Coal Sales of Bumi Resources rose to 87.7 million tons in FY’16 compared with 79.3 million tons in FY’15. ...
Monday, 13 February 17
THE FREIGHT MARKET CONTINUED TO TUMBLE IN FEBRUARY
COALspot.com: The Freight market was continued its downfall in all segments except Panamax for the week ending 10 February 2017.
The Balt ...
Friday, 10 February 17
U.S. COAL OUTPUT IS ESTIMATED TO HAVE DECLINED BY 158 MMST IN 2016 TO 739 MMST, SAYS EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 17 million short tons ...
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- Agrawal Coal Company - India
- Global Coal Blending Company Limited - Australia
- Holcim Trading Pte Ltd - Singapore
- Meralco Power Generation, Philippines
- Electricity Generating Authority of Thailand
- Heidelberg Cement - Germany
- PNOC Exploration Corporation - Philippines
- Deloitte Consulting - India
- Global Business Power Corporation, Philippines
- Bhushan Steel Limited - India
- Neyveli Lignite Corporation Ltd, - India
- IEA Clean Coal Centre - UK
- Gujarat Electricity Regulatory Commission - India
- Alfred C Toepfer International GmbH - Germany
- Independent Power Producers Association of India
- Global Green Power PLC Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Semirara Mining Corp, Philippines
- Australian Coal Association
- Port Waratah Coal Services - Australia
- Siam City Cement - Thailand
- Samtan Co., Ltd - South Korea
- Sical Logistics Limited - India
- TeaM Sual Corporation - Philippines
- Coalindo Energy - Indonesia
- Ministry of Finance - Indonesia
- Anglo American - United Kingdom
- White Energy Company Limited
- Renaissance Capital - South Africa
- Chettinad Cement Corporation Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Carbofer General Trading SA - India
- Salva Resources Pvt Ltd - India
- Larsen & Toubro Limited - India
- McConnell Dowell - Australia
- Mintek Dendrill Indonesia
- Cement Manufacturers Association - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Parliament of New Zealand
- Bukit Baiduri Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Sarangani Energy Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Australian Commodity Traders Exchange
- Power Finance Corporation Ltd., India
- Oldendorff Carriers - Singapore
- CIMB Investment Bank - Malaysia
- India Bulls Power Limited - India
- Ind-Barath Power Infra Limited - India
- Romanian Commodities Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Baramulti Group, Indonesia
- PetroVietnam Power Coal Import and Supply Company
- The State Trading Corporation of India Ltd
- PTC India Limited - India
- Africa Commodities Group - South Africa
- IHS Mccloskey Coal Group - USA
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ambuja Cements Ltd - India
- Metalloyd Limited - United Kingdom
- Banpu Public Company Limited - Thailand
- Malabar Cements Ltd - India
- Indika Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Essar Steel Hazira Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Vedanta Resources Plc - India
- Central Java Power - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Parry Sugars Refinery, India
- Price Waterhouse Coopers - Russia
- Goldman Sachs - Singapore
- Bulk Trading Sa - Switzerland
- Trasteel International SA, Italy
- Pendopo Energi Batubara - Indonesia
- Binh Thuan Hamico - Vietnam
- Indogreen Group - Indonesia
- Tata Chemicals Ltd - India
- Ministry of Transport, Egypt
- Karbindo Abesyapradhi - Indoneisa
- Riau Bara Harum - Indonesia
- Indo Tambangraya Megah - Indonesia
- Formosa Plastics Group - Taiwan
- SN Aboitiz Power Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Coal and Oil Company - UAE
- Bharathi Cement Corporation - India
- Chamber of Mines of South Africa
- European Bulk Services B.V. - Netherlands
- Madhucon Powers Ltd - India
- Intertek Mineral Services - Indonesia
- Mercator Lines Limited - India
- Indonesian Coal Mining Association
- Manunggal Multi Energi - Indonesia
- Rio Tinto Coal - Australia
- Xindia Steels Limited - India
- SMC Global Power, Philippines
- Kalimantan Lumbung Energi - Indonesia
- ICICI Bank Limited - India
- Merrill Lynch Commodities Europe
- Kohat Cement Company Ltd. - Pakistan
- Timah Investasi Mineral - Indoneisa
- Aditya Birla Group - India
- GMR Energy Limited - India
- Standard Chartered Bank - UAE
- Singapore Mercantile Exchange
- Vijayanagar Sugar Pvt Ltd - India
- Eastern Coal Council - USA
- Sojitz Corporation - Japan
- South Luzon Thermal Energy Corporation
- Petron Corporation, Philippines
- Economic Council, Georgia
- Barasentosa Lestari - Indonesia
- Bayan Resources Tbk. - Indonesia
- Indian Energy Exchange, India
- Minerals Council of Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Uttam Galva Steels Limited - India
- Electricity Authority, New Zealand
- Posco Energy - South Korea
- Siam City Cement PLC, Thailand
- AsiaOL BioFuels Corp., Philippines
- Maheswari Brothers Coal Limited - India
- Sree Jayajothi Cements Limited - India
- Bangladesh Power Developement Board
- MS Steel International - UAE
- Grasim Industreis Ltd - India
- New Zealand Coal & Carbon
- The Treasury - Australian Government
- Asmin Koalindo Tuhup - Indonesia
- Thai Mozambique Logistica
- Orica Australia Pty. Ltd.
- Lanco Infratech Ltd - India
- Wilmar Investment Holdings
- SMG Consultants - Indonesia
- International Coal Ventures Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Gujarat Sidhee Cement - India
- ASAPP Information Group - India
- OPG Power Generation Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Sakthi Sugars Limited - India
- Commonwealth Bank - Australia
- Kumho Petrochemical, South Korea
- TNB Fuel Sdn Bhd - Malaysia
- Borneo Indobara - Indonesia
- Kideco Jaya Agung - Indonesia
- Kepco SPC Power Corporation, Philippines
- Medco Energi Mining Internasional
- The University of Queensland
- Jaiprakash Power Ventures ltd
- Cigading International Bulk Terminal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- GVK Power & Infra Limited - India
- Mjunction Services Limited - India
- VISA Power Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Georgia Ports Authority, United States
- Therma Luzon, Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Straits Asia Resources Limited - Singapore
- Toyota Tsusho Corporation, Japan
- Makarim & Taira - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Bhoruka Overseas - Indonesia
- CNBM International Corporation - China
- Star Paper Mills Limited - India
- Interocean Group of Companies - India
- Thiess Contractors Indonesia
- Jindal Steel & Power Ltd - India
- Planning Commission, India
- Central Electricity Authority - India
- Energy Development Corp, Philippines
- Eastern Energy - Thailand
- Iligan Light & Power Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- LBH Netherlands Bv - Netherlands
- Wood Mackenzie - Singapore
- London Commodity Brokers - England
- Gujarat Mineral Development Corp Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Antam Resourcindo - Indonesia
- Energy Link Ltd, New Zealand
- San Jose City I Power Corp, Philippines
- Marubeni Corporation - India
- Leighton Contractors Pty Ltd - Australia
- Meenaskhi Energy Private Limited - India
- PowerSource Philippines DevCo
- Ceylon Electricity Board - Sri Lanka
- Dalmia Cement Bharat India
- Vizag Seaport Private Limited - India
- Savvy Resources Ltd - HongKong
- Edison Trading Spa - Italy
- Krishnapatnam Port Company Ltd. - India
- Karaikal Port Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Sindya Power Generating Company Private Ltd
- Videocon Industries ltd - India
- Mercuria Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Ministry of Mines - Canada
- Altura Mining Limited, Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Directorate Of Revenue Intelligence - India
- GAC Shipping (India) Pvt Ltd
- Orica Mining Services - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Latin American Coal - Colombia
- Billiton Holdings Pty Ltd - Australia
- Tamil Nadu electricity Board
- Attock Cement Pakistan Limited
- Bhatia International Limited - India
- Bukit Makmur.PT - Indonesia
- Indian Oil Corporation Limited
- Pipit Mutiara Jaya. PT, Indonesia
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