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The ICI Weekly Report is the dominant price reference of Indonesian coal, in markets domestically, as well as internationally under the brand "Argus / Coalindo ICI". The five types of ICI assessments are as follows:



Specification                                                                                                            FOB Kalimantan, per tonne

Grade (Kcal)






6,500 GAR (6,200 NAR)

In 90 days

up to 1 %

up to 12 %

up to 12 %


5,800 GAR (5,500 NAR)

In 90 days

up to 0.8 %

up to 10 %

up to 18 %


5,000 GAR (4,700 NAR)

In 90 days

up to 0.6 %

up to 8 %

up to 30 %


4,200 GAR (3,900 NAR)

In 90 days

up to 0.4 %

up to 6 %

up to 40 %

Mother Vessel

3,400 GAR (3,000 NAR)

In 90 days

up to 0.2 %

up to 4 %

up to 50 %

Mother Vessel

ICI METHODOLOGY (click here to download Methodology and Specifications Guide)


Coalindo assessments are derived from the inputs supplied by its panelists on a weekly basis. Coalindo applies reliability tests on the submissions, after which the top and bottom 10% of submissions are eliminated. The remaining submissions are then averaged for each grade assessed. The detailed version of the explanation about the panelist system can be seen on the Coalindo Panelist section of the web.  


Argus assessments are derived from wide cross section of coal market participants. A balance is maintained in this survey between sellers of physical coal, utility buyers, and trading and broking companies. The market reporters record real transactions that are reported and verify all data. They then construct a volume-weighted average of the transaction prices that meet the assessment criteria. Transactions within the specifications will influence the final assessment. Argus specialists then assess the price of the specified grades of coal using all verified information.


The final assessments of coal that had been evaluated by Coalindo management will be sent via e-mail to Argus Media Ltd (London) every Friday at 17:00 PM Jakarta Time at the latest. The Coalindo submissions are then averaged with the corresponding Argus assessments. This methodology is applied to all four specified grades.


For visual explanation regarding the matter here are image representations of the Argus/Coalindo ICI methodology :

The Mechanism of PT Coalindo Energy Assessment :
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