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Monday, 07 July 14
INDONESIA STATE-CONTROLLED COAL MINER BUKIT ASAM TO TRADE COAL ON-LINE THROUGH JFX

COALspot.com: Indonesian state owned coal miner PT Tambang Batubara Bukit Asam Tbk (PTBA) has teamed up with Jakarta Futures Exchange (JFX) to sell part of its coal supply to the overseas market.

According to PTBA President Director Milawarma,  the company can only commit to sell a small portion of its coal output through the local exchange as most of its production volume for this year had already been contracted.

Trading through JFX is expected to be more transparent and efficient compared to the conventional method", he added, as quoted by local media JG.

The company will sell total 75000 mt of coal through JFX this year (2014).

60,000 tons of coal with a calorific value of 6450 kcal/kg for first contract which is scheduled through Tarahan port in Lampung province. The second contract volume is expected around 15,000 metric tons of coal with a calorific value of 6300 kcal/kg, through Kertapati port in South Sumatra.

The online auction is scheduled to start on August 21, 2014 to the current 17 registered members of JFX coming from domestic and aboard including Taiwan, Japan, China, and Malaysia, as quoted by IDN.

IDN, further said, currently Indonesia only has coal price for immediate settlement and one month contract referring to Indonesian Coal Index by Coalindo Energy and the government's Coal Price Reference (HBA) and Coal Price Guidance (HPB).



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