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 Power-Station Coal Swaps, Chinese Contracts Decline

Jan. 8 (Bloomberg) -- Swaps prices fell for thermal coal from Indonesia, the world’s largest exporter of the fuel, according to Ginga Petroleum Singapore Pte.

The swap for Indonesian sub-bituminous coal with a calorific value of 4,900 kilocalories a kilogram in the second quarter slid 5 cents to $64.90 a metric ton on a net-as-received basis yesterday, Ginga said in an e-mail today. The February contract dropped 15 cents to $63.85 a ton.

Contracts for coal with a heating value of 5,500 kilocalories a kilogram for shipment to South China in the second quarter fell 20 cents to $86 a ton on a net-as-received basis, the energy broker said. The February contract was 10 cents lower at $85.10 a ton.

Thermal coal at Australia’s Newcastle port, the benchmark price for Asian contracts, gained $1.05 or 1.2 percent to $91.70 a ton in the week ended Jan. 4, according to IHS McCloskey, a Petersfield, U.K.-based provider of coal data.

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. Higher moisture levels and a lower carbon content reduce the heating value compared with better-quality stock. Sub-bit coal has fewer than 6,100 kilocalories 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.