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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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Friday, 03 February 17
U.S. WEEKLY COAL PRODUCTION DECLINED 3.9% W/W; ROSE 17.7% Y/Y
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 16.1 million short ton ...
Friday, 03 February 17
US - EXECUTIVE ORDER ON IMMIGRATION AFFECTS VESSEL CREWS - GARD
From 27 January 2017, crew members carrying Iraqi, Syrian, Sudanese, Iranian, Somalian, Libyan or Yemeni passports are temporarily barred from ente ...
Wednesday, 01 February 17
MARKET INSIGHT - PANOS TSILINGIRIS
The recent placement of LOIs for 208kdwt Newcastlemax Newbuildings at $38.5m at Private Chinese Yard identifies with the modern history low for dry ...
Tuesday, 31 January 17
A CASE OF NEW YEAR BLUES FOR THE FAR EAST? - GEORGE LAZARIDIS
Unlike the typical lull in the market that we note during the period just prior to the Chinese New Year, 2017 has proved to be fairly m ...
Monday, 30 January 17
DUE TO LUNAR YEAR HOLIDAYS, THE FREIGHT MARKET STAYED WEAK
COALspot.com: Due to Lunar year holidays and celebration, the Freight market was down in all segments this past week.
The Baltic Exchange, tra ...
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- Gujarat Mineral Development Corp Ltd - India
- Kideco Jaya Agung - Indonesia
- Eastern Energy - Thailand
- Timah Investasi Mineral - Indoneisa
- Star Paper Mills Limited - India
- Sindya Power Generating Company Private Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- SN Aboitiz Power Inc, Philippines
- Dalmia Cement Bharat India
- Mercuria Energy - Indonesia
- The Treasury - Australian Government
- Vizag Seaport Private Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PetroVietnam Power Coal Import and Supply Company
- Miang Besar Coal Terminal - Indonesia
- Sree Jayajothi Cements Limited - India
- Aditya Birla Group - India
- Banpu Public Company Limited - Thailand
- IEA Clean Coal Centre - UK
- Energy Development Corp, Philippines
- Semirara Mining and Power Corporation, Philippines
- Bhatia International Limited - India
- Electricity Authority, New Zealand
- Bukit Asam (Persero) Tbk - Indonesia
- Therma Luzon, Inc, Philippines
- Tata Chemicals Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Iligan Light & Power Inc, Philippines
- Minerals Council of Australia
- Latin American Coal - Colombia
- Samtan Co., Ltd - South Korea
- Karaikal Port Pvt Ltd - India
- Bhushan Steel Limited - India
- LBH Netherlands Bv - Netherlands
- Anglo American - United Kingdom
- Riau Bara Harum - Indonesia
- Siam City Cement - Thailand
- Kobexindo Tractors - Indoneisa
- PNOC Exploration Corporation - Philippines
- Thai Mozambique Logistica
- International Coal Ventures Pvt Ltd - India
- CNBM International Corporation - China
- Ind-Barath Power Infra Limited - India
- Essar Steel Hazira Ltd - India
- GMR Energy Limited - India
- VISA Power Limited - India
- Posco Energy - South Korea
- Manunggal Multi Energi - Indonesia
- Heidelberg Cement - Germany
- Vijayanagar Sugar Pvt Ltd - India
- Mercator Lines Limited - India
- Indonesian Coal Mining Association
- Kaltim Prima Coal - Indonesia
- Agrawal Coal Company - India
- Sinarmas Energy and Mining - Indonesia
- Standard Chartered Bank - UAE
- Georgia Ports Authority, United States
- Energy Link Ltd, New Zealand
- The State Trading Corporation of India Ltd
- Maheswari Brothers Coal Limited - India
- Goldman Sachs - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Carbofer General Trading SA - India
- Baramulti Group, Indonesia
- Videocon Industries ltd - India
- Leighton Contractors Pty Ltd - Australia
- Salva Resources Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Kohat Cement Company Ltd. - Pakistan
- MS Steel International - UAE
- Coal and Oil Company - UAE
- Bukit Makmur.PT - Indonesia
- Economic Council, Georgia
- Globalindo Alam Lestari - Indonesia
- Bhoruka Overseas - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Medco Energi Mining Internasional
- SMC Global Power, Philippines
- Semirara Mining Corp, Philippines
- White Energy Company Limited
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ambuja Cements Ltd - India
- Grasim Industreis Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Coastal Gujarat Power Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Jindal Steel & Power Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- IHS Mccloskey Coal Group - USA
- Ministry of Finance - Indonesia
- Indika Energy - Indonesia
- Wilmar Investment Holdings
- Kepco SPC Power Corporation, Philippines
- Romanian Commodities Exchange
- Bulk Trading Sa - Switzerland
- ASAPP Information Group - India
- Antam Resourcindo - Indonesia
- Ministry of Transport, Egypt
- Makarim & Taira - Indonesia
- Aboitiz Power Corporation - Philippines
- Mjunction Services Limited - India
- TeaM Sual Corporation - Philippines
- Larsen & Toubro Limited - India
- Cigading International Bulk Terminal - Indonesia
- Marubeni Corporation - India
- Malabar Cements Ltd - India
- Jaiprakash Power Ventures ltd
- Petrochimia International Co. Ltd.- Taiwan
- Sakthi Sugars Limited - India
- Straits Asia Resources Limited - Singapore
- OPG Power Generation Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Indian Oil Corporation Limited
- AsiaOL BioFuels Corp., Philippines
- Meenaskhi Energy Private Limited - India
- Independent Power Producers Association of India
- Simpson Spence & Young - Indonesia
- Binh Thuan Hamico - Vietnam
- PTC India Limited - India
- Intertek Mineral Services - Indonesia
- Chamber of Mines of South Africa
- Orica Mining Services - Indonesia
- Chettinad Cement Corporation Ltd - India
- PowerSource Philippines DevCo
- The University of Queensland
- India Bulls Power Limited - India
- Metalloyd Limited - United Kingdom
- Sical Logistics Limited - India
- Singapore Mercantile Exchange
- Meralco Power Generation, Philippines
- Indian Energy Exchange, India
- Alfred C Toepfer International GmbH - Germany
- Edison Trading Spa - Italy
- Formosa Plastics Group - Taiwan
- Sarangani Energy Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Merrill Lynch Commodities Europe
- Oldendorff Carriers - Singapore
- ICICI Bank Limited - India
- Commonwealth Bank - Australia
- Karbindo Abesyapradhi - Indoneisa
- CIMB Investment Bank - Malaysia
- San Jose City I Power Corp, Philippines
- Ministry of Mines - Canada
- Parliament of New Zealand
- Orica Australia Pty. Ltd.
- Siam City Cement PLC, Thailand
- Interocean Group of Companies - India
- Port Waratah Coal Services - Australia
- Renaissance Capital - South Africa
- Savvy Resources Ltd - HongKong
- Rio Tinto Coal - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Vedanta Resources Plc - India
- Central Java Power - Indonesia
- Bayan Resources Tbk. - Indonesia
- Australian Coal Association
- GN Power Mariveles Coal Plant, Philippines
- Indo Tambangraya Megah - Indonesia
- Bharathi Cement Corporation - India
- Electricity Generating Authority of Thailand
- Altura Mining Limited, Indonesia
- Planning Commission, India
- Uttam Galva Steels Limited - India
- Thiess Contractors Indonesia
- Lanco Infratech Ltd - India
- GVK Power & Infra Limited - India
- Xindia Steels Limited - India
- Toyota Tsusho Corporation, Japan
- European Bulk Services B.V. - Netherlands
- Global Business Power Corporation, Philippines
- Coalindo Energy - Indonesia
- Bangladesh Power Developement Board
- Barasentosa Lestari - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Gujarat Electricity Regulatory Commission - India
- Trasteel International SA, Italy
- Borneo Indobara - Indonesia
- Kartika Selabumi Mining - Indonesia
- Tamil Nadu electricity Board
- Eastern Coal Council - USA
- McConnell Dowell - Australia
- Power Finance Corporation Ltd., India
- Australian Commodity Traders Exchange
- Wood Mackenzie - Singapore
- Mintek Dendrill Indonesia
- Parry Sugars Refinery, India
- London Commodity Brokers - England
- Kalimantan Lumbung Energi - Indonesia
- Kumho Petrochemical, South Korea
- GAC Shipping (India) Pvt Ltd
- Asmin Koalindo Tuhup - Indonesia
- Africa Commodities Group - South Africa
- Indogreen Group - Indonesia
- Attock Cement Pakistan Limited
- TNB Fuel Sdn Bhd - Malaysia
- Deloitte Consulting - India
- Price Waterhouse Coopers - Russia
- SMG Consultants - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Bukit Baiduri Energy - Indonesia
- Petron Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- South Luzon Thermal Energy Corporation
- Ceylon Electricity Board - Sri Lanka
- Holcim Trading Pte Ltd - Singapore
- Central Electricity Authority - India
- New Zealand Coal & Carbon
- Directorate Of Revenue Intelligence - India
- Gujarat Sidhee Cement - India
- Sojitz Corporation - Japan
- Global Green Power PLC Corporation, Philippines
- Madhucon Powers Ltd - India
- Cement Manufacturers Association - India
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