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Thursday, 30 September 10
LOW CALORIFIC VALUE COAL MAY BE SOLD BELOW COAL REFERENCE PRICE IN INDONESIA
 COALspot.com: Indonesia, the world’s largest coal exporter has issued another ministerial decree to regulate the selling price of coal of Indonesian origin on 23 September 2010, which is the implementation regulation for government regulation 23/2010. “This is an important policy in order to restructure the optimal benefits in the management of coal in Indonesia” according to web site of directorate general of minerals and coal.
The regulation on coal reference price, guidelines states that coal must be sold at or above the government's declared monthly coal reference price. However, the same regulation also providing room for coal that contains a very low calorific value to sell below reference price. However , it was not clear what calorific Value or Total Moisture coal being categorized as low GCV coal.
As stated by Reuters, "The low CV coal can be sold without following the government price reference but miners must give a strong reason and it will be subject to approval by the ministry," said Witoro Soelarno, secretary at the directorate general of minerals and coal at the energy and mines ministry.
Production Operation Permit holder's of coal Mining (IUP holders) must sell their coal as per monthly reference price issued government either for export or domestic market , including to its affiliated business entities, says regulation no 17/2010, the decree, issued by the energy ministry on September 23 and copy of the same obtained by COALspot.com.
The decree 17/2010 has been in force since the day of its issue on 23 September 2010.
The main points of the decree ( related to coal)
Director General on behalf of the Minister to set a benchmark price for steam (thermal) coal and coking (Metallurgical) coal every month.
Coal miners must refer Indonesian Coal benchmark price to conclude the deal with domestic or international buyers and must give priority for Indonesian flag carriers, if they used vessel/ barges to transport coal.
Mine owners can use the surveyor named or appointed by the Director General on behalf of the Minister.
Mine owners are required to submit a monthly coal sales reports to authority. The report must include selling price, sales volume, quality, point of sale, cost adjustments, and name of port of destination or country.
Monthly report should be supported by supporting documents.
Coal sellers are required to follow Indonesian coal price reference when conclude the coal sales and purchase agreement with their respective buyers. Spot deals should refer to the reference price of the month that shipment taken place where’s term deals should refer to the reference price of an average of 3 (three) previous months from the date of agreement signed. However, before it was committed in the sales contract must be submitted to the Minister through the Director General.
Concluded spot contracts must be executed within one month from the date of contract signed and term contracts must be commenced execution within 2 months from the date of sales and purchase contract and must be completed within a maximum period of 12 months.
Miners are required to submit an annual delivery schedule to the Director-General in the beginning of the year, and if there are any changes in the delivery schedule, then must be reported revised delivery schedule periodically. Violations can lead to revocation of mining permits.
Coal for specific purposes and certain types of coal (fine coal, reject coal and coal with certain impurities) used in the domestic market can be sold at a price below the coal price reference, after obtain approval from the Director General on behalf of the Minister.
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Saturday, 25 September 10
PRESSURE ON S6 AND S7 ROUTES SEEMS TO BE CONTINUED NEXT WEEK CAPT. REDDY
COALspot.com: The freight market has been flat this week due to holidays in China and low activity saw all sectors down and soft.
The BDI was dow ...
Thursday, 23 September 10
CHURCHILL MINING SHARES JUMP ON EAST KUTAI COAL PROJECT FEASIBILITY RESULTS - STOCKOPEDIA
AIM listed mining group Churchill Mining (LON:CHL) and its Indonesian partners the Ridlatama Group, have completed a feasibility study on the 2.73bn ...
Thursday, 23 September 10
DRY BULK RATES EXPECTEDLY FALL TO ONE MONTH LOWS - HELLENIC SHIPPING
With of the Far East trade routes closed this week on various national holidays, demand for ocean transportation of raw materials has been significa ...
Wednesday, 22 September 10
INDIA TO BE BIGGEST BUYER OF INDONESIAN COAL BY 2011 - BUSINESS STANDARD
India will pass Japan to be the biggest buyer of Indonesian coal by 2011, said Bob Kamandanu, chairman of the Indonesian Coal Mining Association.
...
Wednesday, 22 September 10
DRY BULK MARKET SENTIMENT TURNS SOUTH AS IRON ORE DEMAND DECLINES
The dry bulk market has once again turned the tide, with the industry’s benchmark, the Baltic Dry Index (BDI) turning south during the previou ...
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- Thai Mozambique Logistica
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- PNOC Exploration Corporation - Philippines
- Mercuria Energy - Indonesia
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- Planning Commission, India
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- GAC Shipping (India) Pvt Ltd
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- GMR Energy Limited - India
- Lanco Infratech Ltd - India
- Simpson Spence & Young - Indonesia
- Eastern Energy - Thailand
- Edison Trading Spa - Italy
- Australian Commodity Traders Exchange
- Miang Besar Coal Terminal - Indonesia
- IHS Mccloskey Coal Group - USA
- Medco Energi Mining Internasional
- Wilmar Investment Holdings
- LBH Netherlands Bv - Netherlands
- PowerSource Philippines DevCo
- Interocean Group of Companies - India
- Binh Thuan Hamico - Vietnam
- Ceylon Electricity Board - Sri Lanka
- Metalloyd Limited - United Kingdom
- Coalindo Energy - Indonesia
- TeaM Sual Corporation - Philippines
- Africa Commodities Group - South Africa
- SN Aboitiz Power Inc, Philippines
- Orica Mining Services - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Samtan Co., Ltd - South Korea
- Eastern Coal Council - USA
- Carbofer General Trading SA - India
- Iligan Light & Power Inc, Philippines
- Minerals Council of Australia
- Port Waratah Coal Services - Australia
- Standard Chartered Bank - UAE
- Maharashtra Electricity Regulatory Commission - India
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- India Bulls Power Limited - India
- Price Waterhouse Coopers - Russia
- Bhoruka Overseas - Indonesia
- Altura Mining Limited, Indonesia
- Alfred C Toepfer International GmbH - Germany
- Maheswari Brothers Coal Limited - India
- Thiess Contractors Indonesia
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- Therma Luzon, Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
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- Ministry of Transport, Egypt
- Indian Oil Corporation Limited
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- Chettinad Cement Corporation Ltd - India
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- Antam Resourcindo - Indonesia
- Wood Mackenzie - Singapore
- Siam City Cement - Thailand
- The Treasury - Australian Government
- Vedanta Resources Plc - India
- Tamil Nadu electricity Board
- Oldendorff Carriers - Singapore
- Indian Energy Exchange, India
- White Energy Company Limited
- SMG Consultants - Indonesia
- Kaltim Prima Coal - Indonesia
- Baramulti Group, Indonesia
- San Jose City I Power Corp, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Sree Jayajothi Cements Limited - India
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- GN Power Mariveles Coal Plant, Philippines
- Merrill Lynch Commodities Europe
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- Gujarat Mineral Development Corp Ltd - India
- Economic Council, Georgia
- Anglo American - United Kingdom
- International Coal Ventures Pvt Ltd - India
- Indonesian Coal Mining Association
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- Gujarat Sidhee Cement - India
- Jorong Barutama Greston.PT - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Meenaskhi Energy Private Limited - India
- Kumho Petrochemical, South Korea
- Latin American Coal - Colombia
- OPG Power Generation Pvt Ltd - India
- Coal and Oil Company - UAE
- Makarim & Taira - Indonesia
- Bangladesh Power Developement Board
- SMC Global Power, Philippines
- Madhucon Powers Ltd - India
- Siam City Cement PLC, Thailand
- Parry Sugars Refinery, India
- Goldman Sachs - Singapore
- Global Coal Blending Company Limited - Australia
- Bayan Resources Tbk. - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Jaiprakash Power Ventures ltd
- Banpu Public Company Limited - Thailand
- Meralco Power Generation, Philippines
- Toyota Tsusho Corporation, Japan
- Timah Investasi Mineral - Indoneisa
- The University of Queensland
- Indika Energy - Indonesia
- Power Finance Corporation Ltd., India
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- Orica Australia Pty. Ltd.
- Grasim Industreis Ltd - India
- Kepco SPC Power Corporation, Philippines
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- VISA Power Limited - India
- Romanian Commodities Exchange
- Barasentosa Lestari - Indonesia
- Global Green Power PLC Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Mjunction Services Limited - India
- Rio Tinto Coal - Australia
- Electricity Generating Authority of Thailand
- London Commodity Brokers - England
- Energy Link Ltd, New Zealand
- PTC India Limited - India
- Mintek Dendrill Indonesia
- Bulk Trading Sa - Switzerland
- AsiaOL BioFuels Corp., Philippines
- Commonwealth Bank - Australia
- Petron Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Directorate General of MIneral and Coal - Indonesia
- Uttam Galva Steels Limited - India
- Holcim Trading Pte Ltd - Singapore
- Electricity Authority, New Zealand
- Xindia Steels Limited - India
- Agrawal Coal Company - India
- MS Steel International - UAE
- CNBM International Corporation - China
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- Semirara Mining and Power Corporation, Philippines
- New Zealand Coal & Carbon
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- CIMB Investment Bank - Malaysia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- IEA Clean Coal Centre - UK
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- Vijayanagar Sugar Pvt Ltd - India
- Central Java Power - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Parliament of New Zealand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ministry of Mines - Canada
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- Aditya Birla Group - India
- Billiton Holdings Pty Ltd - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Georgia Ports Authority, United States
- Karbindo Abesyapradhi - Indoneisa
- Sical Logistics Limited - India
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- Marubeni Corporation - India
- Attock Cement Pakistan Limited
- Central Electricity Authority - India
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- ICICI Bank Limited - India
- Trasteel International SA, Italy
- Dalmia Cement Bharat India
- Formosa Plastics Group - Taiwan
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