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Monday, 07 May 12
INDONESIAN HBA FALL AGAIN IN MAY 2012
 COALspot.com - Indonesian HBA fall again to lowest level since January 2011 in May 2012. The monthly coal reference price for coal sales in May fell 3.30%, the lowest dropped in last 17 Months.
The Ministry of Energy & Mineral Resources of Indonesia sets the coal’s spot price for May 2012 at US$ 102.12 per ton, US$ 3.49 lower than April 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 April 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 May 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 May 2012 HBA was 13.17% or $15.49 lower on Y-o-Y basis.
The price was only valid for the spot price (loading before 31 May 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 revised to comply with new coal pricing regulation, which was fully implemented on 23 September 2011.
The Indonesian government is also expecting to introduce a coal export duty for coal in near future. According to officials, the proposal is in discussion among the high level officers to determine the percentage of duty. There will be two different types of duty could be introduced such as lower duty for higher calorific value coal and higher duty for unprocessed lower calorific value.
The government also has recently introduced export duty for unprocessed minerals but coal was missing in the recent regulation. Indonesian coal producers were asked to add value for their product such as washing, crashing, blending and upgrading to have a higher-value product prior to eye on the export market and avoid proposed export ban.
In coming months Indonesian coal industry can see number of new regulations.
Click here for complete details of Indonesian coal reference prices since January 2009.(cs)
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- Sarangani Energy Corporation, Philippines
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- IEA Clean Coal Centre - UK
- Romanian Commodities Exchange
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- Indonesian Coal Mining Association
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- Bayan Resources Tbk. - Indonesia
- Mercator Lines Limited - India
- Interocean Group of Companies - India
- GVK Power & Infra Limited - India
- Baramulti Group, Indonesia
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- Merrill Lynch Commodities Europe
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- Pipit Mutiara Jaya. PT, Indonesia
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- Power Finance Corporation Ltd., India
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- The University of Queensland
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- SN Aboitiz Power Inc, Philippines
- Indian Energy Exchange, India
- Marubeni Corporation - India
- Semirara Mining Corp, Philippines
- Iligan Light & Power Inc, Philippines
- Edison Trading Spa - Italy
- Electricity Authority, New Zealand
- Price Waterhouse Coopers - Russia
- Ministry of Mines - Canada
- Bukit Baiduri Energy - Indonesia
- Australian Coal Association
- International Coal Ventures Pvt Ltd - India
- Eastern Energy - Thailand
- Uttam Galva Steels Limited - India
- Leighton Contractors Pty Ltd - Australia
- Sojitz Corporation - Japan
- Bhatia International Limited - India
- South Luzon Thermal Energy Corporation
- Barasentosa Lestari - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- London Commodity Brokers - England
- Bharathi Cement Corporation - India
- Rio Tinto Coal - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Holcim Trading Pte Ltd - Singapore
- Kideco Jaya Agung - Indonesia
- Bhoruka Overseas - Indonesia
- Georgia Ports Authority, United States
- The State Trading Corporation of India Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Posco Energy - South Korea
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Australian Commodity Traders Exchange
- Vedanta Resources Plc - India
- PNOC Exploration Corporation - Philippines
- MS Steel International - UAE
- Coastal Gujarat Power Limited - India
- Thiess Contractors Indonesia
- Chamber of Mines of South Africa
- Samtan Co., Ltd - South Korea
- Toyota Tsusho Corporation, Japan
- Altura Mining Limited, Indonesia
- Banpu Public Company Limited - Thailand
- McConnell Dowell - Australia
- Asmin Koalindo Tuhup - Indonesia
- Maheswari Brothers Coal Limited - India
- Parliament of New Zealand
- Kepco SPC Power Corporation, Philippines
- Gujarat Sidhee Cement - India
- PetroVietnam Power Coal Import and Supply Company
- Wood Mackenzie - Singapore
- Semirara Mining and Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Ind-Barath Power Infra Limited - India
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- Larsen & Toubro Limited - India
- Directorate General of MIneral and Coal - Indonesia
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- Formosa Plastics Group - Taiwan
- Global Business Power Corporation, Philippines
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- Meenaskhi Energy Private Limited - India
- Xindia Steels Limited - India
- Sindya Power Generating Company Private Ltd
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- Straits Asia Resources Limited - Singapore
- Aboitiz Power Corporation - Philippines
- Eastern Coal Council - USA
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- Therma Luzon, Inc, Philippines
- Port Waratah Coal Services - Australia
- Bulk Trading Sa - Switzerland
- Gujarat Mineral Development Corp Ltd - India
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- Commonwealth Bank - Australia
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- European Bulk Services B.V. - Netherlands
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- PowerSource Philippines DevCo
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- Wilmar Investment Holdings
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- ICICI Bank Limited - India
- White Energy Company Limited
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- Binh Thuan Hamico - Vietnam
- Globalindo Alam Lestari - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Savvy Resources Ltd - HongKong
- Central Java Power - Indonesia
- Trasteel International SA, Italy
- Economic Council, Georgia
- Lanco Infratech Ltd - India
- New Zealand Coal & Carbon
- Energy Link Ltd, New Zealand
- Coalindo Energy - Indonesia
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- Bahari Cakrawala Sebuku - Indonesia
- Malabar Cements Ltd - India
- Medco Energi Mining Internasional
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- Cement Manufacturers Association - India
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- Miang Besar Coal Terminal - Indonesia
- Ministry of Transport, Egypt
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- AsiaOL BioFuels Corp., Philippines
- Jorong Barutama Greston.PT - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
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- Madhucon Powers Ltd - India
- Directorate Of Revenue Intelligence - India
- LBH Netherlands Bv - Netherlands
- Kobexindo Tractors - Indoneisa
- Videocon Industries ltd - India
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