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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, 23 December 16
U.S. YEAR-TO-DATE COAL PRODUCTION TOTALED 711.1 MMST; DOWN 18.5% Y/Y - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 15.7 million short ton ...
Thursday, 22 December 16
INDONESIA LACK OF EXPORT TO INDIA THIS WEEK - FERNLEYS
Supramax
While the Atlantic is keeping up with rates, the Pacific has been weaker says Astrup Fernley.
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Wednesday, 21 December 16
THE SUPREME COURT DECISION IN OW BUNKERS - WHEN A SALE OF GOODS IS NOT A SALE OF GOODS - LEON ALEXANDER, CLYDE&CO
KNOWLEDGE TO ELEVATE
In May 2016 the Supreme Court of England & Wales gave judgment in an OW Bunkers test case entitled "Res Cogitans ...
Wednesday, 21 December 16
CLEANING THE OCEANS FROM PLASTIC - SOPHIE COTZIAS
2016 is coming to a close and it finds us in preparation for the 2017 enforcement of the Ballast Water Treatment Systems. We naturally are in thoug ...
Tuesday, 20 December 16
TRADE HAS FELT ITS BUMPS AND SHAKES THIS YEAR - GEORGE LAZARIDIS
Trade has felt its bumps and shakes this year, as growing populist protectionist and nationalist movements in the Western world start to take hold. ...
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- Coastal Gujarat Power Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Iligan Light & Power Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Mintek Dendrill Indonesia
- Wilmar Investment Holdings
- Vijayanagar Sugar Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Therma Luzon, Inc, Philippines
- European Bulk Services B.V. - Netherlands
- London Commodity Brokers - England
- Medco Energi Mining Internasional
- Manunggal Multi Energi - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- The University of Queensland
- Power Finance Corporation Ltd., India
- Bhoruka Overseas - Indonesia
- Energy Development Corp, Philippines
- PTC India Limited - India
- Bharathi Cement Corporation - India
- Electricity Authority, New Zealand
- Mercator Lines Limited - India
- Ministry of Finance - Indonesia
- Eastern Energy - Thailand
- Merrill Lynch Commodities Europe
- MS Steel International - UAE
- Jindal Steel & Power Ltd - India
- Pendopo Energi Batubara - Indonesia
- Energy Link Ltd, New Zealand
- Tata Chemicals Ltd - India
- Anglo American - United Kingdom
- The Treasury - Australian Government
- Heidelberg Cement - Germany
- Borneo Indobara - Indonesia
- Oldendorff Carriers - Singapore
- Indogreen Group - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Thiess Contractors Indonesia
- Commonwealth Bank - Australia
- Sical Logistics Limited - India
- Eastern Coal Council - USA
- Deloitte Consulting - India
- Karbindo Abesyapradhi - Indoneisa
- Coalindo Energy - Indonesia
- Larsen & Toubro Limited - India
- Maheswari Brothers Coal Limited - India
- Central Java Power - Indonesia
- Gujarat Sidhee Cement - India
- Vizag Seaport Private Limited - India
- Lanco Infratech Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Directorate Of Revenue Intelligence - India
- CIMB Investment Bank - Malaysia
- Essar Steel Hazira Ltd - India
- Bhatia International Limited - India
- Attock Cement Pakistan Limited
- OPG Power Generation Pvt Ltd - India
- Sojitz Corporation - Japan
- Sinarmas Energy and Mining - Indonesia
- Bangladesh Power Developement Board
- Kartika Selabumi Mining - Indonesia
- Mercuria Energy - Indonesia
- Planning Commission, India
- Bayan Resources Tbk. - Indonesia
- Metalloyd Limited - United Kingdom
- Sakthi Sugars Limited - India
- Indonesian Coal Mining Association
- Wood Mackenzie - Singapore
- Petron Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Billiton Holdings Pty Ltd - Australia
- Barasentosa Lestari - Indonesia
- Meenaskhi Energy Private Limited - India
- Aditya Birla Group - India
- GAC Shipping (India) Pvt Ltd
- Indian Oil Corporation Limited
- PowerSource Philippines DevCo
- Minerals Council of Australia
- Goldman Sachs - Singapore
- Semirara Mining Corp, Philippines
- Global Green Power PLC Corporation, Philippines
- Indian Energy Exchange, India
- Madhucon Powers Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Vedanta Resources Plc - India
- LBH Netherlands Bv - Netherlands
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ministry of Transport, Egypt
- Chettinad Cement Corporation Ltd - India
- Latin American Coal - Colombia
- Uttam Galva Steels Limited - India
- Marubeni Corporation - India
- San Jose City I Power Corp, Philippines
- Standard Chartered Bank - UAE
- Kaltim Prima Coal - Indonesia
- Cement Manufacturers Association - India
- International Coal Ventures Pvt Ltd - India
- Romanian Commodities Exchange
- Leighton Contractors Pty Ltd - Australia
- Chamber of Mines of South Africa
- Star Paper Mills Limited - India
- Indo Tambangraya Megah - Indonesia
- IEA Clean Coal Centre - UK
- Makarim & Taira - Indonesia
- Sindya Power Generating Company Private Ltd
- Maharashtra Electricity Regulatory Commission - India
- Simpson Spence & Young - Indonesia
- Timah Investasi Mineral - Indoneisa
- Kumho Petrochemical, South Korea
- Central Electricity Authority - India
- ASAPP Information Group - India
- SN Aboitiz Power Inc, Philippines
- Xindia Steels Limited - India
- Australian Coal Association
- Independent Power Producers Association of India
- Asmin Koalindo Tuhup - Indonesia
- Bhushan Steel Limited - India
- Baramulti Group, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- New Zealand Coal & Carbon
- Carbofer General Trading SA - India
- Savvy Resources Ltd - HongKong
- Parliament of New Zealand
- Trasteel International SA, Italy
- Bukit Makmur.PT - Indonesia
- Africa Commodities Group - South Africa
- Kapuas Tunggal Persada - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Karaikal Port Pvt Ltd - India
- Orica Mining Services - Indonesia
- GVK Power & Infra Limited - India
- Dalmia Cement Bharat India
- White Energy Company Limited
- Grasim Industreis Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indika Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Australian Commodity Traders Exchange
- Mjunction Services Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Sree Jayajothi Cements Limited - India
- ICICI Bank Limited - India
- GMR Energy Limited - India
- Bulk Trading Sa - Switzerland
- Offshore Bulk Terminal Pte Ltd, Singapore
- Cigading International Bulk Terminal - Indonesia
- Ind-Barath Power Infra Limited - India
- VISA Power Limited - India
- Posco Energy - South Korea
- Ambuja Cements Ltd - India
- Antam Resourcindo - Indonesia
- Altura Mining Limited, Indonesia
- Kobexindo Tractors - Indoneisa
- Rio Tinto Coal - Australia
- Economic Council, Georgia
- Singapore Mercantile Exchange
- Directorate General of MIneral and Coal - Indonesia
- Miang Besar Coal Terminal - Indonesia
- South Luzon Thermal Energy Corporation
- Semirara Mining and Power Corporation, Philippines
- Ministry of Mines - Canada
- Kideco Jaya Agung - Indonesia
- Globalindo Alam Lestari - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Malabar Cements Ltd - India
- Videocon Industries ltd - India
- Alfred C Toepfer International GmbH - Germany
- Banpu Public Company Limited - Thailand
- The State Trading Corporation of India Ltd
- Renaissance Capital - South Africa
- Siam City Cement - Thailand
- Riau Bara Harum - Indonesia
- Orica Australia Pty. Ltd.
- Kohat Cement Company Ltd. - Pakistan
- Binh Thuan Hamico - Vietnam
- Thai Mozambique Logistica
- CNBM International Corporation - China
- Port Waratah Coal Services - Australia
- SMC Global Power, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Tamil Nadu electricity Board
- Toyota Tsusho Corporation, Japan
- Salva Resources Pvt Ltd - India
- India Bulls Power Limited - India
- Global Coal Blending Company Limited - Australia
- Holcim Trading Pte Ltd - Singapore
- IHS Mccloskey Coal Group - USA
- Georgia Ports Authority, United States
- Agrawal Coal Company - India
- Kepco SPC Power Corporation, Philippines
- Coal and Oil Company - UAE
- Gujarat Electricity Regulatory Commission - India
- Jaiprakash Power Ventures ltd
- Interocean Group of Companies - India
- Aboitiz Power Corporation - Philippines
- Samtan Co., Ltd - South Korea
- Global Business Power Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Edison Trading Spa - Italy
- TeaM Sual Corporation - Philippines
- SMG Consultants - Indonesia
- Electricity Generating Authority of Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Parry Sugars Refinery, India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bukit Baiduri Energy - Indonesia
- McConnell Dowell - Australia
- PNOC Exploration Corporation - Philippines
- Straits Asia Resources Limited - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- AsiaOL BioFuels Corp., Philippines
- Meralco Power Generation, Philippines
- Siam City Cement PLC, Thailand
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