Bloomberg the Company & Products

Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

Indonesian Sub-Bituminous Coal Swaps Drop; China Contracts Rise

June 29 (Bloomberg) -- Swap contracts fell for lower-quality coal from Indonesia, the world’s biggest exporter of the power-station fuel, according to Ginga Petroleum Singapore Pte. Prices for deliveries to China climbed.

The price for sub-bituminous coal with a heating value of 4,900 kilocalories a kilogram for loading from Indonesia in the third quarter dropped 15 cents to $63.60 a metric ton on a net as-received basis yesterday, the energy broker said in an e-mail today. The July swap was 5 cents lower at $63.20 a ton.

Coal with a calorific value of 5,500 kilocalories a kilogram for shipment to South China in July gained 40 cents to $85.50 a ton on a net as-received basis, Ginga said. The swap for the third quarter rose 25 cents to $86.25.

A commodity swap is a financial agreement whereby a floating price is exchanged for a fixed rate over a specified contract period.

About 60 percent of Indonesia’s coal is classified as sub-bituminous. The grade is typically softer, with a dull, earthy appearance, according to the London-based World Coal Association. Higher moisture levels and a lower carbon content reduce the heating value compared with grades with a better quality stock. Sub-bit coal has kilocalories of less than 6,100 per kilogram, according to the Indonesian energy ministry.

To contact the reporter on this story: Fitri Wulandari in Jakarta at fwulandari@bloomberg.net

To contact the editor responsible for this story: Alexander Kwiatkowski at akwiatkowsk2@bloomberg.net

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.