The government ‘s monthly Coal Price Reference (HBA) for December 2010 stood at US$103.41/tonne FOB Vessel, compared with 95.51/tonne in November, the Directorate General of Mineral, Coal and Geothermal announced last week. HBA is a spot price, valid for under 12-month sales contract. The December HBA was the price cited for the delivery period of Dec 1-31.
Price for term contract (contract of more than 12 months) is the average HBA over the past three months and is fixed over 12 months. Sales price on barges (FOB barge) is HBA minus costs of barging and transshipment from FOB Vessel to FOB Barge.
Coal Price reference is based on coal with GCV (GAR) of 6,322 kcal/kg, total moisture (arb) of 8.00 percent, total sulphuric content of 8.00 percent, ash content of 15.00 percent and free on Board (FOB) Vessel. HBA was calculated from the monthly average of four international coal indices such as Indonesian coal index/ ICI 1, Platts-1, New Castle Export Index and Newcastle global Coal Index.
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