Argus/Coalindo

Indonesian Coal Index Report

Weekly average ICI* prices Issue 011 Friday 13 March 2009

Indonesian Coal Indices incorporating assessments by Argus Media and PT Coalindo**

Grade Basis Price(US$/t)
Indonesian 6,500 kcal GAR 66.86
Indonesian 5,800 kcal GAR 59.37
Indonesian 5,000 kcal GAR 46.67
Indonesian 4,200 kcal GAR 34.33

Monthly ICI averages

Dec Jan Feb
Indonesian 6,500 kcal 82.85 79.77 75.43
Indonesian 5,800 kcal 73.38 70.63 68.10
Indonesian 5,000 kcal 58.45 55.39 52.63
Indonesian 4,200 kcal 34.35 34.97 36.77

Specifications FOB Kalimantan, per tonne

Grade Timing Sulphur Ash TM Basis Size
6,500 kcal in 90 days up to 1% up to 12% up to 12% GAR Panamax
5,800 kcal in 90 days up to 0.8% up to 10% up to 18% GAR Panamax
5,000 kcal in 90 days up to 0.6% up to 8% up to 30% GAR Panamax
4,200 kcal in 90 days up to 0.4% up to 6% up to 40% GAR Tug and Barge

Argus fob Newcastle differential to ICI 5,800 kcal $/t Argus fob Richards Bay differential to ICI 5,800 kcal $/t

20 10
Argus fob Richards bay = 0 Argus fob Newcastle = 0
5
10

0
0
hh -5 hh
-10
-10

-20 -15
24 Oct 08 05 Dec 08 23 Jan 09 06 Mar 09 24 Oct 08 05 Dec 08 23 Jan 09 06 Mar 09

Additional information about the underlying assessments used to produce the ICI can be obtained from the publishers.

Argus Media (London)...........................+ 44 20 7780 4200

Argus Media (Singapore)......................+ 65 6496 9966
PT Coalindo............................................+ 62 21 3001 2490 ww.
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*ICI is a trademark of Argus Media Limited and PT Coalindo.

** Argus and Coalindo methodologies appear on page 2.
Reproduction, scanning into an electronic retrieval system or copying to a database is strictly prohibited without the written permission
of the publisher. Published weekly. Supplied under licence.

Copyright © 2009 Argus Media Ltd

Argus/Coalindo Indonesian Coal Index Report Issue 011 Friday 13 March 2009

Argus/Coalindo ICI - 6,500 kcal Argus/Coalindo ICI - 5,800 kcal

Argus/Coalindo ICI - 5,000 kcal Argus/Coalindo ICI - 4,200 kcal

Methodologies

The Indonesian Coal Indices are derived from a 50/50 average of assessments by Argus Media and the panel submissions collated by Coalindo.

Argus Media Ltd

Argus Media’s contribution to the ICI represents Argus’ assessed price on the last working day of each week. A schedule of publication is available from
Argus Media.
The Argus team of specialist market reporters contacts a wide cross section of coal market participants by telephone, instant messenger and via email.
A balance is maintained in this survey between sellers of physical coal, utility buyers, trading companies and broking companies.
The market reporters/analysts record the transactions that are reported and verify all data. They then construct a volume weighted average of the
transaction prices that meet the assessment criteria listed in the specification above. Transactions within the specifications above will influence the final
assessment.
Participants in the market survey are also asked where they see the level of prices in the market and, if applicable, if they have received or made any
firm bids and/or offers for coal. Argus market specialists then assess the price of the specified grades of coal using all verified information.
Information on transactions and offers that lie outside the specifications may be taken into account but information that lies within the listed
specifications of the assessment will be given most weight. Prices on electronic trading platforms may be used as indicators of prevailing market prices,
provided they meet all relevant specifications. For more information, go to www.argusmedia.com

PT Coalindo Energy /Coalindo

The Panel members are comprised of a number of members, balanced between representatives of coal producers, coal consumers, coal market
intermediaries (traders and brokers). These prices will be collected by Coalindo every week (on the last working day of each week at 15.00 PM). The top
10% and bottom 10% of prices received will be dropped.Coalindo then averages the remaining submissions . All of the submitted prices are sent to Argus
without contributors’ names (on the last working day of each week at 17.00 PM). The Coalindo submissions will be averaged with the corresponding
Argus assessments.

Editorial: Argus offices: Washington DC, USA

Jason Feer (Editor) Argus Media Ltd, London (head office), UK Tel: +1 202 775 0240
Tel: +65 6533 3638 Tel: +44 20 7780 4200 Fax: +1 202 872 8045
coal@argusmedia.com Fax: +44 20 7780 4201
FOR FURTHER INFORMATION CONTACT: Argus/Coalindo Indonesian Coal Index Report
Moscow, Russia
Argus/Coalindo Indonesian Coal Index Report Production manager: Chris Rockett ISSN 1744-8115
Tel: +7 495 933 7571
Customer support and sales: Fax: +7 495 933 7572 Copyright © 2009 Argus Media Limited
Publisher: Adrian Binks
London +44 20 7780 4200 Reproduction, scanning into an electronic
Business development: Peter Caddy, Jim Singapore
Singapore - Dewati Kurniawan +65 6496 9967 retrieval system, or copying to a database is
Nicholson, Owain Johnson (Europe, Middle East, Tel: +65 6496 9966
Moscow - Tatyana Pastushenko +7 495 933 strictly prohibited without the written permission
Africa, Asia-Pacific), Daniel Massey, Miles Weigel Fax: +65 6533 4181
7571 of the publisher.
(Americas) Tokyo, Japan
Washington - Zachary Rhonheimer Tel: +81 3 524 5087
Commercial manager: Jo Loudiadis +1 202 775 0240 Fax: +81 3 3524 5088
Editor in chief: Ian Bourne sales@argusmedia.com
Argus Media Inc, Houston, USA
Executive editor: Euan Craik support@argusmedia.com
Tel: +1 713 968 0000
Managing editor: Cindy Galvin
Fax: +1 713 622 2991

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