Our Company | OUR COMPANY |
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PT Coalindo Energy develops specialist pricing services for the Indonesian coal markets. Shareholders in Coalindo include mining firms, regional power utilities, and prominent individuals from the coal markets. Coalindo price assessments are primarily derived from its own weekly panel system that comprises a diverse number of registered and pre-qualified members. The panel membership is continually and carefully balanced between the spectrum of coal companies involved in the Indonesian coal business incorporating buyers/users, miners and traders.
The idea for the company's establishment was initiated by executives of the Indonesian Coal Mining Association (ICMA), when in 2003, Indonesia experienced a growth of coal exports at 85.31 million tons. Recognizing the importance and projected expansion of this trend, it was decided that the time was opportune for Indonesia to produce a coal price assessment to more accurately and effectively price Indonesian coal.
For this purpose, a board which comprised of personnel from the management of ICMA was formed to take preparatory steps to establish a company tasked to handle the development, maintenance and administration of these indices.
In 2005, Indonesia's export volumes reached 112.92 million tons, easily exceeding Australia's export of 107 million tons. This dominant position in world coal supply, helped drive the establishment of this company.
This company would maintain a shared ownership with international energy publishers, Argus Media Limited, to facilitate and reiterate its independent position in the energy pricing business.
Consequently. with support from the experienced management of ICMA, particularly from Jeffrey Mulyono, Soedjoko Tirtosoekotjo and Kazuya Tanaka, PT Coalindo Energy, was officially formed in 2006 and headquartered in Jakarta, Indonesia.
Vision & Mission Vision: To be a world-class company that will determine Indonesian Coal Index (ICI) that reflects fair value for all stakeholders.
Mission: 1. To create accurate, reliable and transparent ICI 2. To build and maintain a representative pricing panel to determine the ICI. 3. To operate for the benefit of producers, consumers and all stakeholders.
Brief History and Progress 2006PT 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 supporting companies including brokers, traders, and contractors). 2007 October 2007, CoalindoNews was produced as a complementary product by PT Coalindo Energy. 2008Following 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. 2009The 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. 2010In 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. |
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