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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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- Australian Coal Association
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- Jaiprakash Power Ventures ltd
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- Gujarat Electricity Regulatory Commission - India
- GVK Power & Infra Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Rio Tinto Coal - Australia
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- Global Business Power Corporation, Philippines
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- PTC India Limited - India
- Ministry of Mines - Canada
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- Eastern Coal Council - USA
- Bukit Makmur.PT - Indonesia
- Thiess Contractors Indonesia
- Indonesian Coal Mining Association
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- McConnell Dowell - Australia
- Siam City Cement PLC, Thailand
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- Renaissance Capital - South Africa
- Coal and Oil Company - UAE
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- Meenaskhi Energy Private Limited - India
- Parliament of New Zealand
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- Minerals Council of Australia
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- Anglo American - United Kingdom
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- Asmin Koalindo Tuhup - Indonesia
- Sical Logistics Limited - India
- The University of Queensland
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- Directorate Of Revenue Intelligence - India
- OPG Power Generation Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Edison Trading Spa - Italy
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- Iligan Light & Power Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Romanian Commodities Exchange
- Meralco Power Generation, Philippines
- Global Green Power PLC Corporation, Philippines
- Ambuja Cements Ltd - India
- White Energy Company Limited
- IEA Clean Coal Centre - UK
- ICICI Bank Limited - India
- Electricity Authority, New Zealand
- Toyota Tsusho Corporation, Japan
- Bayan Resources Tbk. - Indonesia
- Orica Australia Pty. Ltd.
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Tamil Nadu electricity Board
- The Treasury - Australian Government
- Mjunction Services Limited - India
- Oldendorff Carriers - Singapore
- Baramulti Group, Indonesia
- Global Coal Blending Company Limited - Australia
- Maharashtra Electricity Regulatory Commission - India
- Commonwealth Bank - Australia
- Coalindo Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Kumho Petrochemical, South Korea
- Ministry of Transport, Egypt
- SMG Consultants - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Cement Manufacturers Association - India
- Holcim Trading Pte Ltd - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Ministry of Finance - Indonesia
- Pendopo Energi Batubara - Indonesia
- IHS Mccloskey Coal Group - USA
- Malabar Cements Ltd - India
- CNBM International Corporation - China
- The State Trading Corporation of India Ltd
- Videocon Industries ltd - India
- Trasteel International SA, Italy
- Neyveli Lignite Corporation Ltd, - India
- Indian Oil Corporation Limited
- Eastern Energy - Thailand
- Semirara Mining Corp, Philippines
- Petron Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Interocean Group of Companies - India
- Bahari Cakrawala Sebuku - Indonesia
- Sindya Power Generating Company Private Ltd
- Indogreen Group - Indonesia
- GAC Shipping (India) Pvt Ltd
- Sakthi Sugars Limited - India
- Price Waterhouse Coopers - Russia
- Sojitz Corporation - Japan
- Jindal Steel & Power Ltd - India
- Standard Chartered Bank - UAE
- Krishnapatnam Port Company Ltd. - India
- Africa Commodities Group - South Africa
- Indo Tambangraya Megah - Indonesia
- Port Waratah Coal Services - Australia
- Formosa Plastics Group - Taiwan
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- PowerSource Philippines DevCo
- Posco Energy - South Korea
- Carbofer General Trading SA - India
- Tata Chemicals Ltd - India
- Energy Link Ltd, New Zealand
- Ceylon Electricity Board - Sri Lanka
- AsiaOL BioFuels Corp., Philippines
- Agrawal Coal Company - India
- Bukit Baiduri Energy - Indonesia
- MS Steel International - UAE
- Aboitiz Power Corporation - Philippines
- Power Finance Corporation Ltd., India
- GN Power Mariveles Coal Plant, Philippines
- Orica Mining Services - Indonesia
- Dalmia Cement Bharat India
- Indian Energy Exchange, India
- Sarangani Energy Corporation, Philippines
- Chamber of Mines of South Africa
- Makarim & Taira - Indonesia
- GMR Energy Limited - India
- Metalloyd Limited - United Kingdom
- Leighton Contractors Pty Ltd - Australia
- Semirara Mining and Power Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Georgia Ports Authority, United States
- Bhoruka Overseas - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Antam Resourcindo - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Independent Power Producers Association of India
- Singapore Mercantile Exchange
- Therma Luzon, Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Latin American Coal - Colombia
- Kepco SPC Power Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- SN Aboitiz Power Inc, Philippines
- Aditya Birla Group - India
- Samtan Co., Ltd - South Korea
- TeaM Sual Corporation - Philippines
- Goldman Sachs - Singapore
- Bhushan Steel Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- San Jose City I Power Corp, Philippines
- Uttam Galva Steels Limited - India
- Electricity Generating Authority of Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Larsen & Toubro Limited - India
- Central Java Power - Indonesia
- Altura Mining Limited, Indonesia
- LBH Netherlands Bv - Netherlands
- Bharathi Cement Corporation - India
- Miang Besar Coal Terminal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Deloitte Consulting - India
- Xindia Steels Limited - India
- Simpson Spence & Young - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indika Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Bank of Tokyo Mitsubishi UFJ Ltd
- Economic Council, Georgia
- Mercator Lines Limited - India
- SMC Global Power, Philippines
- Australian Commodity Traders Exchange
- India Bulls Power Limited - India
- Kobexindo Tractors - Indoneisa
- Kaltim Prima Coal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Rashtriya Ispat Nigam Limited - India
- Riau Bara Harum - Indonesia
- London Commodity Brokers - England
- VISA Power Limited - India
- Barasentosa Lestari - Indonesia
- Borneo Indobara - Indonesia
- Attock Cement Pakistan Limited
- Wilmar Investment Holdings
- Globalindo Alam Lestari - Indonesia
- Merrill Lynch Commodities Europe
- Wood Mackenzie - Singapore
- New Zealand Coal & Carbon
- Binh Thuan Hamico - Vietnam
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