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

Thermal Coal Swaps Unchanged for Indonesia, China Contracts

Don't Miss Out —
Follow us on:

Feb. 5 (Bloomberg) -- Swaps prices were unchanged for thermal coal from Indonesia, the world’s largest exporter of the fuel, according to Ginga Petroleum Singapore Pte.

The contract for Indonesian sub-bituminous coal with a calorific value of 4,900 kilocalories a kilogram in the second quarter of this year held at $66.15 a metric ton on a net-as-received yesterday, Ginga said in an e-mail today. The March contract was unchanged at $65 a ton.

Contracts for coal with a heating value of 5,500 kilocalories a kilogram for shipment to South China in the second quarter remained at $87.10 a ton, the energy broker said. The swap for March were at $85.75 a ton.

Indonesia is the world’s largest exporter of power-station coal. Prices at Australia’s Newcastle port, the benchmark grade for Asia, rose $1.70, or 1.9 percent, to $92.75 a ton in the week ended Feb. 1, 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.