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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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- Manunggal Multi Energi - Indonesia
- Bhushan Steel Limited - India
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- Indogreen Group - Indonesia
- Merrill Lynch Commodities Europe
- SN Aboitiz Power Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Bulk Trading Sa - Switzerland
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- Minerals Council of Australia
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- Meralco Power Generation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Cement Manufacturers Association - India
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- Oldendorff Carriers - Singapore
- Goldman Sachs - Singapore
- New Zealand Coal & Carbon
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- South Luzon Thermal Energy Corporation
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- Directorate Of Revenue Intelligence - India
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- MS Steel International - UAE
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- Electricity Authority, New Zealand
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- Asmin Koalindo Tuhup - Indonesia
- Toyota Tsusho Corporation, Japan
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- Directorate General of MIneral and Coal - Indonesia
- Eastern Coal Council - USA
- Maharashtra Electricity Regulatory Commission - India
- Orica Australia Pty. Ltd.
- Siam City Cement - Thailand
- Wilmar Investment Holdings
- Mercuria Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Global Coal Blending Company Limited - Australia
- Aditya Birla Group - India
- LBH Netherlands Bv - Netherlands
- Bharathi Cement Corporation - India
- Jorong Barutama Greston.PT - Indonesia
- Star Paper Mills Limited - India
- Posco Energy - South Korea
- Mintek Dendrill Indonesia
- Australian Commodity Traders Exchange
- Kobexindo Tractors - Indoneisa
- Latin American Coal - Colombia
- Commonwealth Bank - Australia
- Anglo American - United Kingdom
- Banpu Public Company Limited - Thailand
- Indonesian Coal Mining Association
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Sical Logistics Limited - India
- Sarangani Energy Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- European Bulk Services B.V. - Netherlands
- GN Power Mariveles Coal Plant, Philippines
- Indian Oil Corporation Limited
- PTC India Limited - India
- Agrawal Coal Company - India
- Rio Tinto Coal - Australia
- The Treasury - Australian Government
- Sindya Power Generating Company Private Ltd
- IEA Clean Coal Centre - UK
- Makarim & Taira - Indonesia
- Holcim Trading Pte Ltd - Singapore
- India Bulls Power Limited - India
- Deloitte Consulting - India
- Independent Power Producers Association of India
- SMG Consultants - Indonesia
- PowerSource Philippines DevCo
- Indian Energy Exchange, India
- Ceylon Electricity Board - Sri Lanka
- Straits Asia Resources Limited - Singapore
- Globalindo Alam Lestari - Indonesia
- Kaltim Prima Coal - Indonesia
- Cigading International Bulk Terminal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- CNBM International Corporation - China
- Barasentosa Lestari - Indonesia
- Central Java Power - Indonesia
- Price Waterhouse Coopers - Russia
- Economic Council, Georgia
- Global Green Power PLC Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Energy Link Ltd, New Zealand
- Bukit Baiduri Energy - Indonesia
- Grasim Industreis Ltd - India
- Mjunction Services Limited - India
- Wood Mackenzie - Singapore
- Intertek Mineral Services - Indonesia
- Attock Cement Pakistan Limited
- Singapore Mercantile Exchange
- Formosa Plastics Group - Taiwan
- Indika Energy - Indonesia
- Bhatia International Limited - India
- Indo Tambangraya Megah - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Sojitz Corporation - Japan
- Petron Corporation, Philippines
- Vedanta Resources Plc - India
- PetroVietnam Power Coal Import and Supply Company
- Miang Besar Coal Terminal - Indonesia
- Standard Chartered Bank - UAE
- Renaissance Capital - South Africa
- Chettinad Cement Corporation Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Kideco Jaya Agung - Indonesia
- Africa Commodities Group - South Africa
- Ministry of Transport, Egypt
- Thiess Contractors Indonesia
- SMC Global Power, Philippines
- Riau Bara Harum - Indonesia
- Parry Sugars Refinery, India
- GVK Power & Infra Limited - India
- Larsen & Toubro Limited - India
- Lanco Infratech Ltd - India
- ICICI Bank Limited - India
- Chamber of Mines of South Africa
- Borneo Indobara - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Meenaskhi Energy Private Limited - India
- White Energy Company Limited
- Metalloyd Limited - United Kingdom
- PNOC Exploration Corporation - Philippines
- Ministry of Finance - Indonesia
- Savvy Resources Ltd - HongKong
- Georgia Ports Authority, United States
- Uttam Galva Steels Limited - India
- Heidelberg Cement - Germany
- Madhucon Powers Ltd - India
- Maheswari Brothers Coal Limited - India
- Electricity Generating Authority of Thailand
- Trasteel International SA, Italy
- Carbofer General Trading SA - India
- Mercator Lines Limited - India
- GMR Energy Limited - India
- Energy Development Corp, Philippines
- Kepco SPC Power Corporation, Philippines
- Thai Mozambique Logistica
- Sakthi Sugars Limited - India
- McConnell Dowell - Australia
- Alfred C Toepfer International GmbH - Germany
- Jindal Steel & Power Ltd - India
- CIMB Investment Bank - Malaysia
- Jaiprakash Power Ventures ltd
- Kalimantan Lumbung Energi - Indonesia
- Ministry of Mines - Canada
- Tata Chemicals Ltd - India
- Central Electricity Authority - India
- Pendopo Energi Batubara - Indonesia
- Therma Luzon, Inc, Philippines
- Iligan Light & Power Inc, Philippines
- Siam City Cement PLC, Thailand
- Dalmia Cement Bharat India
- London Commodity Brokers - England
- VISA Power Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Baramulti Group, Indonesia
- Sinarmas Energy and Mining - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Romanian Commodities Exchange
- Coalindo Energy - Indonesia
- Xindia Steels Limited - India
- Orica Mining Services - Indonesia
- Bayan Resources Tbk. - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Simpson Spence & Young - Indonesia
- Marubeni Corporation - India
- Bukit Makmur.PT - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Samtan Co., Ltd - South Korea
- Bukit Asam (Persero) Tbk - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Parliament of New Zealand
- The University of Queensland
- Interocean Group of Companies - India
- Essar Steel Hazira Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Videocon Industries ltd - India
- Ambuja Cements Ltd - India
- Coastal Gujarat Power Limited - India
- Eastern Energy - Thailand
- Salva Resources Pvt Ltd - India
- Australian Coal Association
- Aboitiz Power Corporation - Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Altura Mining Limited, Indonesia
- Karaikal Port Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- IHS Mccloskey Coal Group - USA
- Planning Commission, India
- GAC Shipping (India) Pvt Ltd
- Rashtriya Ispat Nigam Limited - India
- Gujarat Sidhee Cement - India
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