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Tuesday, 12 April 16
INDONESIA COAL BENCHMARK PRICE INCREASES FOR SECOND STRAIGHT MONTH
COALspot.com: The Indonesia Coal Benchmark Price Increases For Second Straight Month in April 2016.
The Director General of Mineral and Coal of Indonesia, who has authority to declare monthly bench mark price for Indonesian thermal coal, increased Indonesia coal benchmark price for April 2016. The Mineral and Coal department has declared April 2016 HBA at US$ 52.32 per ton for 6322 GAR power plant coal on 11 April 2016.
The April 2016 HBA climbed nearly 1.36% from last month but declined 18.86% the comparable period in 2015.
The April 2016 price reference for Indonesian coal up 1.36% or US$ 0.70 a ton from March 2016. The April Indonesia benchmark price for coal was off 18.86% from the April 2015 price of US$ 64.48 a ton. 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 HBA every month, as HBA is linked to those indices.
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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$ 12.93 a ton (rose 1.33 per cent 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 April 2016 FOB vessel delivery. In the meantime, the government is also declared US$ 38.38 per ton as HPB for 5000 GAR coal with total moisture 22.40%, Ash 8.90% and Sulphur 0.54% for April 2016 deliveries.
The February 2016 Indonesia thermal coal reference price (or called HBA) was the lowest in 88 months or since launching of HBA by the government of Indonesia in January 2009. The royalty and taxes will be calculated based on this declared HPB.
Indonesian coal benchmark price for April 2016 was calculated based on calorific value of 6,322 kcal/kg (GAR), stated to be using a formula based on the March 2016 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 2016.
The highest benchmark price was declared by the Ministry of Energy & Mineral Resources of Indonesia in February 2011, around 5 years ago and this month declared price is around US$ 74.73 a ton or 58.82 per cent lower compared to Feb’ 11 benchmark price.
The government of Indonesia was publishing a monthly coal price reference (HBA & HPB) since January 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 2016), 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 HPB (this month) 30% one month prior HPB and 20% of two-month prior HPB).
The government also declared 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.
The excess of coal supplies and weak demand, fast developments of renewable energy and fall in oil prices are still to be blamed for obstacle of price recovery or the main reasons of falling of coal prices. According to small scale miners, today’s coal price levels were no more supporting any new investments or new explorations in coal mines. Some Indonesian big scale miners are increasing the production to keep their bottom line healthy while small scale miners either closing down the operation or downscale the operation to keep float at this difficult time.
Click here for full details of Indonesian coal price reference since January 2009.(cs).
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- Minerals Council of Australia
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- Ministry of Mines - Canada
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- Commonwealth Bank - Australia
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- SMG Consultants - Indonesia
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- The Treasury - Australian Government
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- Salva Resources Pvt Ltd - India
- Australian Coal Association
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- Intertek Mineral Services - Indonesia
- Standard Chartered Bank - UAE
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- ICICI Bank Limited - India
- Anglo American - United Kingdom
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- AsiaOL BioFuels Corp., Philippines
- IHS Mccloskey Coal Group - USA
- White Energy Company Limited
- LBH Netherlands Bv - Netherlands
- Bharathi Cement Corporation - India
- Eastern Coal Council - USA
- Bhoruka Overseas - Indonesia
- Kepco SPC Power Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- The University of Queensland
- Goldman Sachs - Singapore
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- SN Aboitiz Power Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Global Green Power PLC Corporation, Philippines
- Heidelberg Cement - Germany
- Port Waratah Coal Services - Australia
- South Luzon Thermal Energy Corporation
- Leighton Contractors Pty Ltd - Australia
- Bangladesh Power Developement Board
- Metalloyd Limited - United Kingdom
- Parry Sugars Refinery, India
- Kaltim Prima Coal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Global Business Power Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Kalimantan Lumbung Energi - Indonesia
- OPG Power Generation Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- IEA Clean Coal Centre - UK
- Indogreen Group - Indonesia
- Makarim & Taira - Indonesia
- Orica Australia Pty. Ltd.
- Petron Corporation, Philippines
- GMR Energy Limited - India
- PowerSource Philippines DevCo
- Iligan Light & Power Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Coal and Oil Company - UAE
- Tata Chemicals Ltd - India
- Sical Logistics Limited - India
- PTC India Limited - India
- Ceylon Electricity Board - Sri Lanka
- San Jose City I Power Corp, Philippines
- Aditya Birla Group - India
- Therma Luzon, Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Simpson Spence & Young - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Electricity Authority, New Zealand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ministry of Transport, Egypt
- Bukit Baiduri Energy - Indonesia
- Videocon Industries ltd - India
- Sojitz Corporation - Japan
- Chamber of Mines of South Africa
- McConnell Dowell - Australia
- Power Finance Corporation Ltd., India
- Star Paper Mills Limited - India
- Merrill Lynch Commodities Europe
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- Neyveli Lignite Corporation Ltd, - India
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- Marubeni Corporation - India
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- Directorate Of Revenue Intelligence - India
- Vijayanagar Sugar Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Eastern Energy - Thailand
- Pendopo Energi Batubara - Indonesia
- Coastal Gujarat Power Limited - India
- Xindia Steels Limited - India
- Georgia Ports Authority, United States
- Energy Link Ltd, New Zealand
- Krishnapatnam Port Company Ltd. - India
- Grasim Industreis Ltd - India
- VISA Power Limited - India
- MS Steel International - UAE
- Economic Council, Georgia
- GVK Power & Infra Limited - India
- Maheswari Brothers Coal Limited - India
- Attock Cement Pakistan Limited
- Miang Besar Coal Terminal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Banpu Public Company Limited - Thailand
- Agrawal Coal Company - India
- Independent Power Producers Association of India
- Rashtriya Ispat Nigam Limited - India
- Parliament of New Zealand
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- GAC Shipping (India) Pvt Ltd
- Tamil Nadu electricity Board
- Bayan Resources Tbk. - Indonesia
- Baramulti Group, Indonesia
- Kumho Petrochemical, South Korea
- Central Electricity Authority - India
- Mercuria Energy - Indonesia
- Barasentosa Lestari - Indonesia
- Indian Oil Corporation Limited
- Wood Mackenzie - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Riau Bara Harum - Indonesia
- Larsen & Toubro Limited - India
- Mjunction Services Limited - India
- Kideco Jaya Agung - Indonesia
- Thai Mozambique Logistica
- Indo Tambangraya Megah - Indonesia
- Sarangani Energy Corporation, Philippines
- Gujarat Sidhee Cement - India
- Asmin Koalindo Tuhup - Indonesia
- CNBM International Corporation - China
- Romanian Commodities Exchange
- Antam Resourcindo - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Bukit Makmur.PT - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Carbofer General Trading SA - India
- Semirara Mining and Power Corporation, Philippines
- Indika Energy - Indonesia
- Sakthi Sugars Limited - India
- Electricity Generating Authority of Thailand
- Ministry of Finance - Indonesia
- Vizag Seaport Private Limited - India
- ASAPP Information Group - India
- Bulk Trading Sa - Switzerland
- Chettinad Cement Corporation Ltd - India
- Lanco Infratech Ltd - India
- Cement Manufacturers Association - India
- Cigading International Bulk Terminal - Indonesia
- European Bulk Services B.V. - Netherlands
- GN Power Mariveles Coal Plant, Philippines
- Kobexindo Tractors - Indoneisa
- CIMB Investment Bank - Malaysia
- Dalmia Cement Bharat India
- Planning Commission, India
- Oldendorff Carriers - Singapore
- Medco Energi Mining Internasional
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- Latin American Coal - Colombia
- Indonesian Coal Mining Association
- Dr Ramakrishna Prasad Power Pvt Ltd - India
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