Brief History and Progress
PT Coalindo Energy was established in May 12, 2006 with the full support from the management of Indonesian Coal Mining Association (ICMA). The company started initially with three products which are ICI-1 (6.500 Kcal/Kg), ICI-2 (5.800 Kcal/Kg), and ICI-3 (5.000 Kcal/Kg), with 21 panelist members comprised by 8 representatives from producers, 8 representatives from end-users, and 5 representatives from vsupporting companies including brokers, traders, and contractors).
October 2007, CoalindoNews was produced as a complementary product by PT Coalindo Energy.
Following escalating demand for low rank coal, particularly for direct supply to the governments 10,000-MW project, in August 2008 the company launched its latest product namely, ICI-4 (4.200 Kcal/Kg). The Panelist membership was also expanded from 21 to 25 members allocating 10 producers, 10 consumers, and 5 supporting companies. The first shareholder dividend payout was also committed in this year.
The inaugural Annual Panelist Meeting was organized in November 2009. More comprehensive price data-oriented, website subscription modules were also made available to ICI subscribers to replace the email delivery service.
In the first quarter of 2010, the Coalindo panel further improved to include 35 regular registered members made up of 14 producers, 14 end-users and 7 supporting companies.
PT Coalindo Energy has quickly strengthened its position as one of the most recognized price assessment entities in the Indonesian coal sector, and progressively continues to develop its usage and application in the futures and financial markets and new pricing quotes for additional grades.
Following escalating demand for low rank coal, in November 2011 the company launched its latest product namely, ICI-5 (3.400 Kcal/Kg).