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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.
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Thursday, 05 April 18
INDONESIA TO POSTPONE NEW COAL, PALM OIL SHIPPING RULES TO 2020 - REUTERS
Indonesia will delay until 2020 trade rules requiring exporters of coal and crude palm oil to use only Indonesian-flagged vessels, government offic ...
Tuesday, 03 April 18
MARKET ANALYSIS - GEORGE LAZARIDIS
In the midst of a relatively quiet week for markets, with disruptions being caused by the Christian holidays, it seems as though we find ourselves ...
Monday, 02 April 18
THE FREIGHT RATES ARE EXPECTED TO BE FLAT TO SOFT, SAYS VISTAAR
The freight market softening to continue. Thursday, March 29, 2018, the Baltic Dry Index decreased by 42 points, reaching 1080 points.
T ...
Monday, 02 April 18
THIESS TO DELIVER $150M SENAKIN CONTRACT EXTENSION
Thiess has secured a $150 million contract extension to provide mine services at Arutmin’s Senakin coal mine in South Kalimantan, Indonesia.
...
Monday, 02 April 18
THIESS SECURES $240M SATUI EXTENSION
The successful implementation of an innovative mining plan by Thiess at the Satui coal mine in South Kalimantan, has resulted in a $240 million con ...
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- Baramulti Group, Indonesia
- Power Finance Corporation Ltd., India
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- Indian Energy Exchange, India
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- Planning Commission, India
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- Interocean Group of Companies - India
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- The State Trading Corporation of India Ltd
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- Energy Link Ltd, New Zealand
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- Directorate General of MIneral and Coal - Indonesia
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- Parry Sugars Refinery, India
- Videocon Industries ltd - India
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- Petrochimia International Co. Ltd.- Taiwan
- Posco Energy - South Korea
- Directorate Of Revenue Intelligence - India
- VISA Power Limited - India
- Electricity Generating Authority of Thailand
- Kohat Cement Company Ltd. - Pakistan
- Indogreen Group - Indonesia
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- SN Aboitiz Power Inc, Philippines
- Riau Bara Harum - Indonesia
- Goldman Sachs - Singapore
- Intertek Mineral Services - Indonesia
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- Metalloyd Limited - United Kingdom
- Medco Energi Mining Internasional
- CIMB Investment Bank - Malaysia
- Indian Oil Corporation Limited
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- Global Business Power Corporation, Philippines
- Wood Mackenzie - Singapore
- White Energy Company Limited
- Commonwealth Bank - Australia
- AsiaOL BioFuels Corp., Philippines
- Karbindo Abesyapradhi - Indoneisa
- Xindia Steels Limited - India
- Jaiprakash Power Ventures ltd
- Price Waterhouse Coopers - Russia
- Ministry of Finance - Indonesia
- Banpu Public Company Limited - Thailand
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- Mjunction Services Limited - India
- Ceylon Electricity Board - Sri Lanka
- London Commodity Brokers - England
- New Zealand Coal & Carbon
- Sarangani Energy Corporation, Philippines
- Madhucon Powers Ltd - India
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- Wilmar Investment Holdings
- Offshore Bulk Terminal Pte Ltd, Singapore
- Singapore Mercantile Exchange
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- The University of Queensland
- Petron Corporation, Philippines
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- Bulk Trading Sa - Switzerland
- Samtan Co., Ltd - South Korea
- Semirara Mining and Power Corporation, Philippines
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- Africa Commodities Group - South Africa
- Central Electricity Authority - India
- Independent Power Producers Association of India
- Gujarat Electricity Regulatory Commission - India
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- Bukit Makmur.PT - Indonesia
- Aditya Birla Group - India
- Bayan Resources Tbk. - Indonesia
- The Treasury - Australian Government
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- Tamil Nadu electricity Board
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- Energy Development Corp, Philippines
- Eastern Coal Council - USA
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- Australian Coal Association
- Bank of Tokyo Mitsubishi UFJ Ltd
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- ICICI Bank Limited - India
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- Bhatia International Limited - India
- Georgia Ports Authority, United States
- Romanian Commodities Exchange
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- PetroVietnam Power Coal Import and Supply Company
- PowerSource Philippines DevCo
- Anglo American - United Kingdom
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- Renaissance Capital - South Africa
- Attock Cement Pakistan Limited
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- Kepco SPC Power Corporation, Philippines
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- International Coal Ventures Pvt Ltd - India
- Coal and Oil Company - UAE
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- Barasentosa Lestari - Indonesia
- Maheswari Brothers Coal Limited - India
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- TNB Fuel Sdn Bhd - Malaysia
- PTC India Limited - India
- European Bulk Services B.V. - Netherlands
- Carbofer General Trading SA - India
- Globalindo Alam Lestari - Indonesia
- Meenaskhi Energy Private Limited - India
- Parliament of New Zealand
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- Thai Mozambique Logistica
- IHS Mccloskey Coal Group - USA
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- Dr Ramakrishna Prasad Power Pvt Ltd - India
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