PTBA launches maiden coal trade via JFX

IDX-listed coal giant PT Bukit Asam (PTBA) has successfully launched its maiden on-line physical coal trade via the Jakarta Futures Exchange (JFX). The on-line bid opened by PTBA on Thursday, offering 75,000 tons of coal, was participated by 21 international traders.

A Singapore buyer won the bid for coal comprising of 60,000 tons of BA-70-HS quality to be shipped in September from the Tarahan Port in Lampung, and 15,000 tons of BA-63 to be shipped from Kertapati Port in Palembang, also in September.

The JFX launched in early July the country?s first coal futures contract, with PTBA as the only initial coal producer offering its coal via the JFX on-line platform.

JFX said in the statement that it expected for coal producers to participate in the on-line trade, and also expects that the physical transaction volume to be made by PTBA to increase in the future as output for this year has been mostly contracted to buyers, and once its coal railway facility has been completed. (*)