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 (6500 Kcal/Kg), ICI-2 (5800 Kcal/Kg), and ICI-3 (5000 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 (4200 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.
- ICI has become one of the components in Harga Batubara Acuan (HBA) by The Ministry of Energy and Mineral Resources on January 2009.
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 (3400 Kcal/Kg).
ICI-3 5000 GAR has become one of the components to calculate tariff of electricity by Central Electric Reform Commission (CERC) in India on April 2014.
ICI-3 5000 GAR has become one of the reference formulas of coal-import price by National Electric Power Regulatory Authority (NEPRA) in Pakistan on December 2016.
- ICI-4 4200 GAR Derivative Market Launch on 5 February 2018 (The ICI 4TM listing on CME Group’s NYMEX).
- Argus Coalindo ICI Forum in Jakarta on 8 February 2018 to promote ICI-4 derivative market.