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Indonesian Thermal Coal Swaps Drop; China Contracts Unchanged

January 08, 2013

Swaps prices dropped 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 fell 15 cents yesterday to $64.75 a metric ton on a net- as-received basis, Ginga said in an e-mail today. The February contract held at $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 held at $86 a ton on a net-as-received basis, the energy broker said. The February contract was unchanged at $85.10 a ton.

Chinese power-station coal demand will stay elevated into next week because of declining stockpiles of the fuel at ports and rising winter electricity usage, New York-based Commodore Research & Consultancy said in a report yesterday.

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

To contact the editor responsible for this story: Alexander Kwiatkowski at

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