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Saturday, 11 August 12
INDONESIAN COAL REFERENCE PRICE HAS LOST 27.78 PERCENT YOY
 COALspot.com - Indonesian HBA fell again in August.
The monthly coal reference price for coal sales this month fell 3.32 percent. HBA fell to lowest level since September 2010. The Ministry of Energy & Mineral Resources of Indonesia sets the coal’s spot price for August 2012 at US$ 84.65 per ton, US$ 2.91 lower than July 2012 Price.
This coal benchmark price was calculated based on calorific value of 6,322 kcal/kg (GAR), stated to be using formula based on the May 2012 index average of ICI-1 (Indonesia Coal Index) 25%, Platts-1 25%, NEX (Newcastle Export Index) 25%, and GC (globalCoal Index) 25%.
Assessment basis of coal price reference 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 applicable for spot contract, delivery between 1 – 31 August 2012.
The government of Indonesia has been publishing a monthly coal reference price (HBA & HPB) since January 2009 to be used by coal producers for all spot and term contracts. However the full implementation of HBA has started only since September 2011.
The August 2012 HBA was 27.78 percent or $ 32.56 lower Y-o-Y basis.
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The price was only valid for the spot price (loading on or before 31 August 2012), while as for term price (up to 12 months supplies), the average reference price (HPB) of the previous 3 months will be used to determine the selling price. (50% of latest available month HPB, 30% of one month prior HPB and 20% of two months prior HPB).
Government also declared reference price for eight brands of Indonesia's coal, which are most commonly traded in the market. Those eight brands are acted as the benchmark and used to calculate other 61 coal types with a quality similar to the coal price markers.
For sales in barge, the reference price is reduced by barging and transshipment costs from barge to vessel.
The coal reference price, which has been established to fulfill the requirement of mining law 04/2009 and latest ministerial decree 17/2010 and also aims to increase government revenue from royalties from coal producers. According to industry, all existing coal supply agreements with Indonesian coal mining companies have been revised to comply with new coal pricing regulation, which was fully implemented on 23 September 2011.
The government has recently introduced export duty for unprocessed minerals but coal was missing in the recent regulation. According to Mining law 04/2009, the coal producers of Indonesia were asked to add value for their product such as washing, crushing, blending and upgrading to have a higher-value product prior to eye on the export market and avoid proposed export ban.
Coal traders must hold IUP OPK to sell or buy coal in Indonesia. Coal traders are requested to obtain IUP OPK from mining department to sell or buy coal in Indonesia as well as to export to overseas market.
Click here for complete Indonesian coal reference prices since January 2009.(cs)
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Tuesday, 07 August 12
KRISHNAPATNAM PORT HAS DISCHARGED 122,247 MTS OF COAL IN JUST 24 HRS
COALspot.com - Keeping with the tradition of the new records that are set at the Olympic Games 2012, Krishnapatnam Port has also achieved in setting ...
Tuesday, 07 August 12
THE JAKARTA POST EDITORIAL: REVISITING THE MINING LAW
The Jakarta post, one of the leading English news paper in Indonesia writes in its editorial today, what the domestic and foreign investors had drea ...
Tuesday, 07 August 12
BARAMULTI SET TO LIST ON BOURSE IN Q4 - JP
The Jakarta Post reported that, coal miner PT Baramulti Sukses Sarana is preparing to make its shares available to the public in the fourth quarter ...
Tuesday, 07 August 12
REALM RESOURCES COMPLETES STUDY ON ITS KATINGAN RIA COAL PROJECT
COALspot.com - Realm Resources Ltd. has announced that it has completed the Project Study for the Katingan Ria Project in Central Kalimantan, Indone ...
Monday, 06 August 12
3RD ANNUAL INDONESIA POWER
Press Release - 3rd Annual Indonesia Power is Indonesia’s premier power event, where commercial opportunities and new projects are identified. ...
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- PowerSource Philippines DevCo
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- Ministry of Mines - Canada
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- Ministry of Finance - Indonesia
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- IHS Mccloskey Coal Group - USA
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- Holcim Trading Pte Ltd - Singapore
- Therma Luzon, Inc, Philippines
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- Kumho Petrochemical, South Korea
- Rio Tinto Coal - Australia
- PTC India Limited - India
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- Meralco Power Generation, Philippines
- Price Waterhouse Coopers - Russia
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- San Jose City I Power Corp, Philippines
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- Vedanta Resources Plc - India
- South Luzon Thermal Energy Corporation
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- Barasentosa Lestari - Indonesia
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- Metalloyd Limited - United Kingdom
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- Bulk Trading Sa - Switzerland
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- Grasim Industreis Ltd - India
- Energy Development Corp, Philippines
- Standard Chartered Bank - UAE
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- Timah Investasi Mineral - Indoneisa
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- Medco Energi Mining Internasional
- Sojitz Corporation - Japan
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- Commonwealth Bank - Australia
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- Directorate Of Revenue Intelligence - India
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- Petrochimia International Co. Ltd.- Taiwan
- Bank of Tokyo Mitsubishi UFJ Ltd
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- Siam City Cement - Thailand
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- Directorate General of MIneral and Coal - Indonesia
- Siam City Cement PLC, Thailand
- Georgia Ports Authority, United States
- Cement Manufacturers Association - India
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- Bangladesh Power Developement Board
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