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Saturday, 08 January 11
GOVERNMENT REMAINS CAUTIOUS OVER FOREIGN INVESTMENT IN MINING SECTOR - THE JAKARTA GLOBE
The Jakarta Globe reported that, The government expects $3.2 billion of investment to flow into the mining sector this year as foreign investors turn to Indonesia to capitalize on possible increases in global commodities, an Energy Ministry official said.
A looming increase in global demand for commodities will lure investors, said Bambang Setiawan, director general of mineral, coal and geothermal at the Energy Ministry.
“We are targeting moderate investment in the mining sector this year, at $3.2 billion, slightly higher than last year’s $3.18 billion,” Bambang said on Friday.
Priyo Pribadi, the head of the Indonesian Mining Association, forecast an even more bullish future for the sector, projecting as much as $8 billion in investment.
“I have documented thousands of investments this year,” he said.
Bambang said almost all production of commodities is expected to increase this year.
Tin production is forecast to increase sharply to 95,000 tons this year from 54,646 tons last year, he said.
Coal production is forecast to surge 27 percent to 375 million tons this year from 275 million tons last year.
Bambang also said coal prices would remain high. Recent floods that struck Australia are expected to boost coal prices.
Harvests of several commodities in Indonesia, especially palm oil and rubber, were damaged by the La Nina weather phenomenon, which caused heavy downpours throughout the dry season and reduced supplies, contributing to higher prices.
Data from the Energy Ministry showed the coal price in 6,322 cal/kg is $112.4 per ton, higher than than December’s price of $103.4 per ton.
Analysts claim that uncertainty over regulations will hamper mining investment, and Bambang admitted that land acquisition and environmental rules remain a problem.
The Jakarta Globe reported last month that total investment in the oil and gas industry was estimated to increase 58 percent to $18.9 billion this year from $11.95 billion last year.
Oil production is forecast to reach 955,000 barrels per day this year, lower than the government’s target of 965,000 bpd in 2010.
Source: The Jakarta Globe
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Thursday, 17 February 11
UNCERTAINTY AND VOLATILITY - FEARNBULK
Handy
Recovering market as evidenced by the solid USD 16k/day achieved by a handymax from Continent to east Med with scrap. More short period requ ...
Tuesday, 15 February 11
INDONESIAN COAL FOR HARYANA THERMAL PLANTS - PUNJAB NEWS LINE
To tide over the recurring coal shortage at thermal plants Haryana Power Generation Corporation Limited (HPGCL) has gone for Malaysian coal for its ...
Tuesday, 15 February 11
TONNAGE OVERSUPPLY TO CHOKE FREIGHT RATES IN THE COMING MONTHS SAYS BIMCO - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
In a new report assessing the dry bulk market, BIMCO’s analysis suggests that freight rates for Capesize vessels are likely to remain depresse ...
Sunday, 13 February 11
COAL MARKETS 2011 TO HIGHLIGHT INDONESIAN COAL AND NEW SOURCES OF COAL SUPPLY
“Over 300 senior decision-makers from coal mining, power and trading companies expected to congregate in Singapore”
Press Release - K ...
Sunday, 13 February 11
YEAR OF RABBIT PUSHING FREIGHT MARKET UP
COALspot.com – “The market finally moved up with firmness in all sectors with some positive signs of markets recovering”, said Cap ...
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- Price Waterhouse Coopers - Russia
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- Minerals Council of Australia
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- LBH Netherlands Bv - Netherlands
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- Ministry of Mines - Canada
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- Wood Mackenzie - Singapore
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- Sojitz Corporation - Japan
- Goldman Sachs - Singapore
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- Electricity Generating Authority of Thailand
- Renaissance Capital - South Africa
- Heidelberg Cement - Germany
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- Anglo American - United Kingdom
- Straits Asia Resources Limited - Singapore
- Directorate General of MIneral and Coal - Indonesia
- IHS Mccloskey Coal Group - USA
- CIMB Investment Bank - Malaysia
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