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Wednesday, 11 July 12
HBA DROPPED SHARPLY IN JULY
 COALspot.com - Indonesian HBA fell to lowest level since September 2010 in July 2012. The monthly coal reference price for coal sales this month fell 9.41 percent, the lowest dropped in last 22 Months.
The Ministry of Energy & Mineral Resources of Indonesia sets the coal’s spot price for July 2012 at US$ 87.56 per ton, US$ 9.09 lower than June 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 July 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 July 2012 HBA was 25.95 percent or $ 30.68 lower Y-o-Y basis.
The price was only valid for the spot price (loading before 31 July 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 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.
Click here for complete Indonesian coal reference prices since January 2009.(cs)
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Thursday, 12 July 12
SOUTHGOBI RESOURCES ANNOUNCES NOTICE OF INVESTMENT DISPUTE FILED AGAINST MONGOLIAN GOVERNMENT
Press Release - SouthGobi Resources Ltd. (TSX: SGQ, HK: 1878) (“SouthGobi”) announced today that SGQ Coal Investment Pte. Ltd., a wholly ...
Wednesday, 11 July 12
SUB-BIT FOB INDONESIA COAL SWAP LOST $ 1.26 PER TON
COALspot.com - Sub-Bit FOB Indonesia Coal decline for a second day yesterday, according to SGX AsiaClear OTC Coal Swaps. The prices for shipments to ...
Tuesday, 10 July 12
DRY BULK MARKET RECORDS MODEST GAINS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market inched a bit higher on Monday, with the Baltic Dry Index (BDI) ending the session up by 5 points to 1,162. Most markets were hig ...
Saturday, 07 July 12
INDONESIA-JAPAN RELATIONS TURN SOUR - THE JAKARTA POST
The Jakarta Post, the one of the leading Indonesian English new papers reported that, Bilateral relations between Indonesia and Japan have recently ...
Saturday, 07 July 12
EXCESS SUPPLY & WEAK DEMAND KEEP COAL PRICES LOW
COALspot.com - SGX AsiaClear OTC Coal Swaps for August and Q4 deliveries slipped slightly this week. SGX’s Indonesian sub-bituminous coal swap ...
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- Energy Development Corp, Philippines
- Global Coal Blending Company Limited - Australia
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- Economic Council, Georgia
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- Ministry of Finance - Indonesia
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- Iligan Light & Power Inc, Philippines
- Antam Resourcindo - Indonesia
- Georgia Ports Authority, United States
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- Bharathi Cement Corporation - India
- New Zealand Coal & Carbon
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- Parliament of New Zealand
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- Maharashtra Electricity Regulatory Commission - India
- Gujarat Mineral Development Corp Ltd - India
- CNBM International Corporation - China
- Commonwealth Bank - Australia
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- Africa Commodities Group - South Africa
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- Planning Commission, India
- Singapore Mercantile Exchange
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- Directorate Of Revenue Intelligence - India
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- Grasim Industreis Ltd - India
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- Salva Resources Pvt Ltd - India
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- Energy Link Ltd, New Zealand
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- Australian Coal Association
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- PTC India Limited - India
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- Barasentosa Lestari - Indonesia
- Rio Tinto Coal - Australia
- White Energy Company Limited
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- IEA Clean Coal Centre - UK
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- The State Trading Corporation of India Ltd
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