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Monday, 09 April 18
APRIL INDONESIAN COAL PRICE REFERENCE DROPS TO LOWEST IN 2018
 COALspot.com: According to latest ministerial decree, the Indonesian Coal Price Reference (HBA) decline 6.98 per cent in April 2018 compared to March HBA.
The benchmark price of Indonesian thermal coal has decreased US$ 7.11 per ton month on month to $ 94.75 per ton for April 2018 delivery. The Minister of Energy and Mineral Resources Republic Indonesia had declared April HBA at US$ 94.75 per ton for 6322 GAR power plant coal by issuing a ministerial decree 1775 K / 32 / MEM / 2018 dated 2 April 2018.
The Ministry of Energy and Mineral Resources Republic Indonesia has decreased the monthly Indonesian thermal coal price reference for April 2018 delivery meantime, the April 2018 HBA was 14.83% higher the comparable period in 2017.
Indonesia has capped the price of domestic coal for power stations at $70 per ton if HBA is equal to or higher than US$ 70 per ton until December 2019 form 12 March 2018, in new rules issued on 9 March 2018 (MEMR Ministerial decree 1395K/30/MEM/2018) and 1410 K/30/MEM/2018 dated 12 March 2018. Where the HBA drops below $70 per ton, the domestic thermal coal price for power stations will revert to HBA. This special price for power plants is applicable for maximum100 million tons of coal per year.
US$ 70 price is based on coal as the same specification as in the Indonesian Coal Benchmark Price (HBA). Domestic Power producers used to buy 4200 to 5000 GAR coal where’s US$ 70 per ton was based on 6322 GAR coal.
An increase or decrease in four international coal indices such as Indonesia Coal Index (ICI), Platts-5900, Newcastle Export Index (NEX) and Global coal Newcastle Index (GCNC) will cause an increase or decrease in Indonesian coal price reference every month, as HBA is linked to those international coal indices. The ministerial decree 1775 K / 32 / MEM / 2018 dated 2 April 2018 has not given any details about formation of HPB.
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.
The declared Indonesia thermal coal reference price (or called HBA) for February 2016 was the lowest in 112 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. The April 2018, HBA is 86.08%higher than the February 2016 price and 25.42% lower than the February 2011 price.
Indonesian coal benchmark price for April 2018 was calculated based on calorific value of 6,322 kcal/kg (GAR), stated to be using a formula based on the March 2018 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 – 30 April 2018.
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$ 32.30 a ton or 25.42% lower compared to Feb’ 11 benchmark price. In the meantime, this month’s declared price was around US$ 43.83 a ton or 86.08% 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$50.92 / MT).
The declared HBA in this month is valid for the spot price (loading on or before 30 April 2018 or until issuing new HBA), while (as per previous HBA note) as for term price (up to 12 months’ supply), the average reference price (HPB) of the previous three months will be used to determine the selling price. (50% of the latest available month's HPB (this month) 30% one-month prior HPB and 20% of two-month prior HPB).
The government used to declare the price marker for eight brands of Indonesia's coal, which were most commonly traded in the market. Those eight brands act as the benchmark and used to calculate other 69 coal types with a quality similar to the coal price markers. However this time, the government was Issued price for HBA and no HPB prices was published.
COALspot.com, has utilized its own calculator which was developed based on HBA/HPB formula and terms and condition declared by DGoMC to calculate HPB prices for eight major brands and for other types of coals. The government has stopped declaring formulas or methodologies that used to calculate either HBA or HPB. COALspot.com now publishing HPB and other coal prices based on US$ 94.75 as well as US$ 70.00 for the 6322 GAR coal.
Click here for details of Indonesian coal price reference since January 2009.(cs). Last update 9 April 2018 13:44(GMT+8)
COALspot.com makes no warranties, express or implied, as to the accuracy adequacy or completeness of the information and assumes no liability in connection with any party use of it. The information contained within the website of COALspot.com is intended for informational purposes only and is not intended as professional counsel and should not be used as such.
COALspot.com will endeavor to update information where appropriate but is under no obligation to do so. All third party users of this website and or data produced or published by the COALspot.com do so at their own risk.
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Thursday, 12 April 18
ALWAYS ACCESSIBLE
KNOWLEDGE TO ELEVATE
On 26 March 2018 Mr Justice Knowles determined that the berth warranty ‘always accessible’ must mean the vess ...
Wednesday, 11 April 18
CHINA UTILITIES PLAN NEW COAL IMPORT PRICE INDEX TO CURB VOLATILITY - REUTERS
China’s major utilities are preparing to launch their own coal price index for imports, an official at China Huaneng Group said, in a move th ...
Wednesday, 11 April 18
US-CHINA TARIFF THREATS RAISE GLOBAL TRADE RISKS - FITCH
Escalating tariff proposals by the U.S. and Chinese governments are increasing the risks of a full-blown trade war, says Fitch Ratings. The most li ...
Tuesday, 10 April 18
BUMA GRANTED ADDITIONAL LOAN FACILITY FROM BTMU TO SUPPORT GROWTH
Press Release: PT Delta Dunia Makmur Tbk. is pleased to announce that its subsidiary, PT Bukit Makmur Mandiri Utama ("BUMA"), signed an a ...
Friday, 06 April 18
TOP MINER BHP QUITS WORLD COAL ASSOCIATION OVER CLIMATE CLASH - BLOOMBERG
BHP Billiton Ltd. has severed ties with the World Coal Association over a clash of views on how to combat climate change, with the mining giant say ...
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- McConnell Dowell - Australia
- Tata Chemicals Ltd - India
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- Billiton Holdings Pty Ltd - Australia
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- Singapore Mercantile Exchange
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- Economic Council, Georgia
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- Rashtriya Ispat Nigam Limited - India
- Ministry of Mines - Canada
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- Siam City Cement PLC, Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
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- Directorate General of MIneral and Coal - Indonesia
- India Bulls Power Limited - India
- Trasteel International SA, Italy
- Bhushan Steel Limited - India
- Sree Jayajothi Cements Limited - India
- Standard Chartered Bank - UAE
- Intertek Mineral Services - Indonesia
- Electricity Generating Authority of Thailand
- Merrill Lynch Commodities Europe
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- Romanian Commodities Exchange
- Straits Asia Resources Limited - Singapore
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- SMC Global Power, Philippines
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- Salva Resources Pvt Ltd - India
- Indian Oil Corporation Limited
- Heidelberg Cement - Germany
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- International Coal Ventures Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Orica Mining Services - Indonesia
- Thai Mozambique Logistica
- Mercator Lines Limited - India
- Karbindo Abesyapradhi - Indoneisa
- IEA Clean Coal Centre - UK
- OPG Power Generation Pvt Ltd - India
- Rio Tinto Coal - Australia
- Indogreen Group - Indonesia
- Deloitte Consulting - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- GMR Energy Limited - India
- Anglo American - United Kingdom
- MS Steel International - UAE
- Wood Mackenzie - Singapore
- Agrawal Coal Company - India
- Australian Commodity Traders Exchange
- Malabar Cements Ltd - India
- Ministry of Finance - Indonesia
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- Semirara Mining Corp, Philippines
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- Maharashtra Electricity Regulatory Commission - India
- Aboitiz Power Corporation - Philippines
- Coal and Oil Company - UAE
- Grasim Industreis Ltd - India
- Sakthi Sugars Limited - India
- Sindya Power Generating Company Private Ltd
- Altura Mining Limited, Indonesia
- Antam Resourcindo - Indonesia
- Commonwealth Bank - Australia
- Coastal Gujarat Power Limited - India
- Essar Steel Hazira Ltd - India
- Independent Power Producers Association of India
- Global Coal Blending Company Limited - Australia
- Oldendorff Carriers - Singapore
- The University of Queensland
- Thiess Contractors Indonesia
- Port Waratah Coal Services - Australia
- Borneo Indobara - Indonesia
- Eastern Coal Council - USA
- Star Paper Mills Limited - India
- Vedanta Resources Plc - India
- Banpu Public Company Limited - Thailand
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- San Jose City I Power Corp, Philippines
- Goldman Sachs - Singapore
- SMG Consultants - Indonesia
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- Larsen & Toubro Limited - India
- Global Business Power Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Coalindo Energy - Indonesia
- Orica Australia Pty. Ltd.
- Parliament of New Zealand
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- Siam City Cement - Thailand
- Therma Luzon, Inc, Philippines
- Jindal Steel & Power Ltd - India
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- VISA Power Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Meralco Power Generation, Philippines
- Ministry of Transport, Egypt
- LBH Netherlands Bv - Netherlands
- Minerals Council of Australia
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- European Bulk Services B.V. - Netherlands
- Edison Trading Spa - Italy
- Indian Energy Exchange, India
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- GAC Shipping (India) Pvt Ltd
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- Bangladesh Power Developement Board
- New Zealand Coal & Carbon
- PNOC Exploration Corporation - Philippines
- Riau Bara Harum - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Bukit Baiduri Energy - Indonesia
- Planning Commission, India
- Simpson Spence & Young - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Energy Link Ltd, New Zealand
- Jorong Barutama Greston.PT - Indonesia
- Kapuas Tunggal Persada - Indonesia
- London Commodity Brokers - England
- Uttam Galva Steels Limited - India
- ASAPP Information Group - India
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- Electricity Authority, New Zealand
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- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Wilmar Investment Holdings
- Sinarmas Energy and Mining - Indonesia
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