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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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Wednesday, 18 April 18
SHIPPING MARKET INSIGHT - STELIOS KOLLINTZAS
The return of traders and charterers from the Easter festivities came along with a slight increase in activity across the edible oil markets. Howev ...
Monday, 16 April 18
MINISTER IGNASIUS JONAN SPEAKS HIS MIND AT INDONESIA MINER - IAN WOLLFF
The Minister for Energy and Mineral resources, Ignasius Jonan, delivered a key note address at the Indonesia Miner conference in Jakarta on the 11 ...
Thursday, 12 April 18
THE PERFECT STORM FOR THE BIG SHIPS - THE BALTIC BRIEFING
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The perfect storm for the big ships: with holidays, force majeure in two ore exporting ports and bad weather undermining the market. A l ...
Thursday, 12 April 18
SHIPPING CAN MANAGE US-CHINA TARIFFS, BUT RISKS RISING - FITCH
Container and, to some extent, dry bulk would probably be the shipping segments most affected by the recently announced US and China tariffs, Fitch ...
Thursday, 12 April 18
SUPRAS HAVE FIXED MID $11K FOR AN INDO RV TO S. CHINA DELIVERY PHILIPPINES - FEARNLEYS
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Slow week with little light for improving rates. ECSA to Far East still around $15k + bb and same to Med ca $14k, says Fearnleys in its ...
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- European Bulk Services B.V. - Netherlands
- Power Finance Corporation Ltd., India
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- Georgia Ports Authority, United States
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- Thai Mozambique Logistica
- Metalloyd Limited - United Kingdom
- Grasim Industreis Ltd - India
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- Eastern Coal Council - USA
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- Indian Oil Corporation Limited
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- Billiton Holdings Pty Ltd - Australia
- GVK Power & Infra Limited - India
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- White Energy Company Limited
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- Economic Council, Georgia
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- New Zealand Coal & Carbon
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- Parry Sugars Refinery, India
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- Kohat Cement Company Ltd. - Pakistan
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- Meenaskhi Energy Private Limited - India
- Meralco Power Generation, Philippines
- Port Waratah Coal Services - Australia
- Lanco Infratech Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Tata Chemicals Ltd - India
- Indika Energy - Indonesia
- Posco Energy - South Korea
- India Bulls Power Limited - India
- Barasentosa Lestari - Indonesia
- Therma Luzon, Inc, Philippines
- Orica Australia Pty. Ltd.
- Vedanta Resources Plc - India
- Anglo American - United Kingdom
- Marubeni Corporation - India
- Coal and Oil Company - UAE
- Ambuja Cements Ltd - India
- Kartika Selabumi Mining - Indonesia
- Australian Coal Association
- Gujarat Sidhee Cement - India
- PetroVietnam Power Coal Import and Supply Company
- Straits Asia Resources Limited - Singapore
- IEA Clean Coal Centre - UK
- Bangladesh Power Developement Board
- Toyota Tsusho Corporation, Japan
- Central Java Power - Indonesia
- Pendopo Energi Batubara - Indonesia
- Malabar Cements Ltd - India
- Mercuria Energy - Indonesia
- TeaM Sual Corporation - Philippines
- Karbindo Abesyapradhi - Indoneisa
- Coalindo Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Petron Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Siam City Cement - Thailand
- Semirara Mining Corp, Philippines
- Orica Mining Services - Indonesia
- Ministry of Transport, Egypt
- Wood Mackenzie - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Deloitte Consulting - India
- Heidelberg Cement - Germany
- Leighton Contractors Pty Ltd - Australia
- Energy Link Ltd, New Zealand
- GAC Shipping (India) Pvt Ltd
- Latin American Coal - Colombia
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- Dalmia Cement Bharat India
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- Merrill Lynch Commodities Europe
- Samtan Co., Ltd - South Korea
- Borneo Indobara - Indonesia
- Price Waterhouse Coopers - Russia
- Australian Commodity Traders Exchange
- Rio Tinto Coal - Australia
- GN Power Mariveles Coal Plant, Philippines
- Renaissance Capital - South Africa
- Gujarat Electricity Regulatory Commission - India
- Uttam Galva Steels Limited - India
- Coastal Gujarat Power Limited - India
- Trasteel International SA, Italy
- Bulk Trading Sa - Switzerland
- Sical Logistics Limited - India
- Jaiprakash Power Ventures ltd
- Binh Thuan Hamico - Vietnam
- Global Green Power PLC Corporation, Philippines
- Thiess Contractors Indonesia
- Baramulti Group, Indonesia
- Riau Bara Harum - Indonesia
- Sarangani Energy Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
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- Chettinad Cement Corporation Ltd - India
- Oldendorff Carriers - Singapore
- Agrawal Coal Company - India
- ICICI Bank Limited - India
- Ind-Barath Power Infra Limited - India
- Standard Chartered Bank - UAE
- Karaikal Port Pvt Ltd - India
- Essar Steel Hazira Ltd - India
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- Medco Energi Mining Internasional
- Kapuas Tunggal Persada - Indonesia
- CIMB Investment Bank - Malaysia
- Cigading International Bulk Terminal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Africa Commodities Group - South Africa
- Siam City Cement PLC, Thailand
- Altura Mining Limited, Indonesia
- Attock Cement Pakistan Limited
- Asmin Koalindo Tuhup - Indonesia
- Commonwealth Bank - Australia
- Madhucon Powers Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Sakthi Sugars Limited - India
- Xindia Steels Limited - India
- Larsen & Toubro Limited - India
- IHS Mccloskey Coal Group - USA
- Eastern Energy - Thailand
- Semirara Mining and Power Corporation, Philippines
- Indian Energy Exchange, India
- Bhushan Steel Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Interocean Group of Companies - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- CNBM International Corporation - China
- Simpson Spence & Young - Indonesia
- Timah Investasi Mineral - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Chamber of Mines of South Africa
- Bahari Cakrawala Sebuku - Indonesia
- GMR Energy Limited - India
- Maharashtra Electricity Regulatory Commission - India
- SMC Global Power, Philippines
- Sojitz Corporation - Japan
- Kepco SPC Power Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- OPG Power Generation Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Formosa Plastics Group - Taiwan
- Alfred C Toepfer International GmbH - Germany
- Minerals Council of Australia
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