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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, 30 December 16
US WEEKLY COAL PRODUCTION TOTALS 15.2 MMST, DOWN 3.1% - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 15.2 million sho ...
Thursday, 29 December 16
CHINA AIMS TO CAP COAL-FIRED POWER CAPACITY AT 1,100 GIGAWATTS BY THE END OF 2020 - REUTERS
China aims to cap total primary energy consumption at around 4.4 billion tonnes of coal equivalent in 2017, the director of the National Energy Adm ...
Wednesday, 28 December 16
FINANCIAL MARKETS AND COMMODITY MARKETS HAVE ALREADY SHOWED CONSIDERABLE IMPROVEMENT AND RENEWED OPTIMISM - GEORGE LAZARIDIS
As 2016 nears to a close many will be breathing a heavy sigh of relief, having made it through one of the toughest years in this century and lookin ...
Wednesday, 28 December 16
BUMA SIGNED APPROXIMATELY US$ 493 MILLION WORTH OF MINING SERVICES CONTRACTS WITH PT ADARO INDONESIA AND PT ANGSANA JAYA ENERGY
COALspot.com: PT Delta Dunia Makmur Tbk. Has announced that its primary operating subsidiary, PT Bukit Makmur Mandiri Utama ("BUMA") has ...
Monday, 26 December 16
DO THE DERIVATIVES MARKETS MAKE COAL PRICES MORE VOLATILE? 59.21% SAY YES, POLL
COALspot.com: The substantial increase or decrease in coal prices within a short period of time has been supported by a number of fundamental drive ...
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- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Planning Commission, India
- Indika Energy - Indonesia
- Makarim & Taira - Indonesia
- Commonwealth Bank - Australia
- Jorong Barutama Greston.PT - Indonesia
- Parry Sugars Refinery, India
- Bulk Trading Sa - Switzerland
- Energy Link Ltd, New Zealand
- SN Aboitiz Power Inc, Philippines
- Jaiprakash Power Ventures ltd
- Central Java Power - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- VISA Power Limited - India
- Latin American Coal - Colombia
- CNBM International Corporation - China
- Indian Oil Corporation Limited
- Kohat Cement Company Ltd. - Pakistan
- IHS Mccloskey Coal Group - USA
- TeaM Sual Corporation - Philippines
- Thai Mozambique Logistica
- Wilmar Investment Holdings
- Sinarmas Energy and Mining - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Cigading International Bulk Terminal - Indonesia
- Bukit Makmur.PT - Indonesia
- Electricity Generating Authority of Thailand
- Tamil Nadu electricity Board
- Thiess Contractors Indonesia
- Ind-Barath Power Infra Limited - India
- The University of Queensland
- Holcim Trading Pte Ltd - Singapore
- Oldendorff Carriers - Singapore
- Indonesian Coal Mining Association
- Directorate General of MIneral and Coal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Dalmia Cement Bharat India
- Indo Tambangraya Megah - Indonesia
- Tata Chemicals Ltd - India
- Power Finance Corporation Ltd., India
- Kalimantan Lumbung Energi - Indonesia
- Semirara Mining Corp, Philippines
- Straits Asia Resources Limited - Singapore
- PowerSource Philippines DevCo
- GN Power Mariveles Coal Plant, Philippines
- Kideco Jaya Agung - Indonesia
- Samtan Co., Ltd - South Korea
- European Bulk Services B.V. - Netherlands
- Krishnapatnam Port Company Ltd. - India
- Sojitz Corporation - Japan
- Interocean Group of Companies - India
- Independent Power Producers Association of India
- Price Waterhouse Coopers - Russia
- Maharashtra Electricity Regulatory Commission - India
- Antam Resourcindo - Indonesia
- Kumho Petrochemical, South Korea
- GMR Energy Limited - India
- Jindal Steel & Power Ltd - India
- Port Waratah Coal Services - Australia
- International Coal Ventures Pvt Ltd - India
- Siam City Cement - Thailand
- Minerals Council of Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Maheswari Brothers Coal Limited - India
- Kapuas Tunggal Persada - Indonesia
- Kobexindo Tractors - Indoneisa
- Chettinad Cement Corporation Ltd - India
- Altura Mining Limited, Indonesia
- Formosa Plastics Group - Taiwan
- Australian Coal Association
- Meenaskhi Energy Private Limited - India
- Ceylon Electricity Board - Sri Lanka
- Leighton Contractors Pty Ltd - Australia
- Vizag Seaport Private Limited - India
- Kepco SPC Power Corporation, Philippines
- Edison Trading Spa - Italy
- Malabar Cements Ltd - India
- White Energy Company Limited
- Mercator Lines Limited - India
- Siam City Cement PLC, Thailand
- Georgia Ports Authority, United States
- Ambuja Cements Ltd - India
- Videocon Industries ltd - India
- Rashtriya Ispat Nigam Limited - India
- Medco Energi Mining Internasional
- PTC India Limited - India
- Economic Council, Georgia
- Aboitiz Power Corporation - Philippines
- Bayan Resources Tbk. - Indonesia
- Rio Tinto Coal - Australia
- Trasteel International SA, Italy
- Bhatia International Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- SMG Consultants - Indonesia
- Cement Manufacturers Association - India
- Asmin Koalindo Tuhup - Indonesia
- IEA Clean Coal Centre - UK
- Sarangani Energy Corporation, Philippines
- London Commodity Brokers - England
- Posco Energy - South Korea
- Salva Resources Pvt Ltd - India
- Bharathi Cement Corporation - India
- Coalindo Energy - Indonesia
- India Bulls Power Limited - India
- Marubeni Corporation - India
- Xindia Steels Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Kartika Selabumi Mining - Indonesia
- Global Green Power PLC Corporation, Philippines
- SMC Global Power, Philippines
- Eastern Coal Council - USA
- Renaissance Capital - South Africa
- The Treasury - Australian Government
- AsiaOL BioFuels Corp., Philippines
- Sical Logistics Limited - India
- Coastal Gujarat Power Limited - India
- Parliament of New Zealand
- New Zealand Coal & Carbon
- Grasim Industreis Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- MS Steel International - UAE
- Savvy Resources Ltd - HongKong
- Gujarat Electricity Regulatory Commission - India
- Pipit Mutiara Jaya. PT, Indonesia
- Vedanta Resources Plc - India
- Globalindo Alam Lestari - Indonesia
- Simpson Spence & Young - Indonesia
- Bangladesh Power Developement Board
- Meralco Power Generation, Philippines
- Manunggal Multi Energi - Indonesia
- Electricity Authority, New Zealand
- Mercuria Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Gujarat Sidhee Cement - India
- Chamber of Mines of South Africa
- San Jose City I Power Corp, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Ministry of Transport, Egypt
- Indogreen Group - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- ASAPP Information Group - India
- Attock Cement Pakistan Limited
- Bhoruka Overseas - Indonesia
- Barasentosa Lestari - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Energy Development Corp, Philippines
- Iligan Light & Power Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- McConnell Dowell - Australia
- OPG Power Generation Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- ICICI Bank Limited - India
- Miang Besar Coal Terminal - Indonesia
- LBH Netherlands Bv - Netherlands
- Binh Thuan Hamico - Vietnam
- Agrawal Coal Company - India
- Metalloyd Limited - United Kingdom
- Directorate Of Revenue Intelligence - India
- Global Business Power Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Larsen & Toubro Limited - India
- Heidelberg Cement - Germany
- Eastern Energy - Thailand
- Africa Commodities Group - South Africa
- Pendopo Energi Batubara - Indonesia
- Anglo American - United Kingdom
- Global Coal Blending Company Limited - Australia
- Star Paper Mills Limited - India
- Sindya Power Generating Company Private Ltd
- CIMB Investment Bank - Malaysia
- GVK Power & Infra Limited - India
- Madhucon Powers Ltd - India
- Bukit Baiduri Energy - Indonesia
- Deloitte Consulting - India
- Wood Mackenzie - Singapore
- Goldman Sachs - Singapore
- Romanian Commodities Exchange
- Singapore Mercantile Exchange
- South Luzon Thermal Energy Corporation
- Petron Corporation, Philippines
- Carbofer General Trading SA - India
- Vijayanagar Sugar Pvt Ltd - India
- Central Electricity Authority - India
- Orica Mining Services - Indonesia
- Australian Commodity Traders Exchange
- Essar Steel Hazira Ltd - India
- Standard Chartered Bank - UAE
- Sakthi Sugars Limited - India
- Merrill Lynch Commodities Europe
- The State Trading Corporation of India Ltd
- Indian Energy Exchange, India
- Ministry of Finance - Indonesia
- Karaikal Port Pvt Ltd - India
- Borneo Indobara - Indonesia
- Mintek Dendrill Indonesia
- Bhushan Steel Limited - India
- Orica Australia Pty. Ltd.
- Neyveli Lignite Corporation Ltd, - India
- Coal and Oil Company - UAE
- Riau Bara Harum - Indonesia
- Therma Luzon, Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Lanco Infratech Ltd - India
- PNOC Exploration Corporation - Philippines
- Aditya Birla Group - India
- Ministry of Mines - Canada
- Intertek Mineral Services - Indonesia
- Mjunction Services Limited - India
- Baramulti Group, Indonesia
- Toyota Tsusho Corporation, Japan
- Timah Investasi Mineral - Indoneisa
- Billiton Holdings Pty Ltd - Australia
- Gujarat Mineral Development Corp Ltd - India
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