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Saturday, 22 January 11
POSSIBLE COAL EXPORT RESTRICTIONS ON INDONESIA UNLIKELY TO AFFECT CHURCHILL MINING - PROACTIVE INVESTORS
 Proactive Investors reported that, Churchill Mining moved to reassure investors after a fall in its share price, stating that from talks with the authorities in Indonesia, it believes that any potential coal export restrictions may not affect it because of its supply arrangements with Indonesia’s state power provider PLN.
The statement was in response to today’s 8 percent decline in Churchill’s share price, apparently triggered by press speculation about the government’s possible plans to introduce export restrictions on certain grades of coal.
On Thursday, reports surfaced that Indonesia is preparing to place a ban on the export of low quality coal with an energy value of below 5,600 kilocalories per kilogram. The government wants producers to upgrade the coal to a higher energy value product in an effort to increase the country’s export revenue.
“From discussion with the relevant authorities, Churchill believes that any export restrictions will not apply to all producers and expects that further details may clarify that any export restrictions may not apply to Churchill because of the coal supply arrangement in place with the PLN,” said Churchill.
Churchill has created an Indonesian advisory board, which is participating in the ongoing discussions, that “guarantees access to all levels of industry and government” and it has negotiated an off-take deal with the state electricity company.
The company pledged to update the market “when appropriate”.
Churchill also reiterated that it is working with Indonesian state power provider PLN, expecting to meet all of its obligations to supply the domestic market via this relationship.
Back in December, Churchill acquired the land to be used as the site of the future port facility for the shipment of coal from the East Kutai project in Indonesia.Churchill has hired Credit Suisse to find a “big brother with deep pockets” to fund the development of the mine, which has a net present value of US$1.8 billion.
However, Churchill is keeping all of its options open and is still looking at possibly running East Kutai as a stand-alone project funded by equity and debt.
In September the company passed a major milestone when the eagerly awaited feasibility study confirmed East Kutai as a world class deposit with a JORC resource of 2.73 billion tonnes.
Source: Proactive Investors
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Sunday, 23 January 11
THE AVERAGE CHARTER RATE FOR CAPE SIZE VESSELS WAS AT $ 8,859 PD ALMOST CLOSE TO 2008 LOWS - VISTAAR
COALspot.com - The BDI continues to drop and saw a drop of about 5 pct this week closing at 1,370 points. “ In May 2010 the BDI touched ...
Thursday, 20 January 11
INDONESIA MAY BAN LOW-QUALITY COAL EXPORTS FROM 2014 - BLOOMBERG
Bloomberg reported that, The Indonesian government plans to ban exports of coal with an energy value of less than 5,600 kilocalories a kilogram star ...
Thursday, 20 January 11
SUPRAS ARE DOING USD 7- 8K FOR INDONESIA-INDIA - FEARNBULK
Handy
Negative sentiment for forward positions in the Atlantic market due to lack of cargo availability and too many ballasters from the East. Con ...
Thursday, 20 January 11
ITMG TARGETS TO PRODUCE 25 MILLION TONS OF COAL THIS YEAR - BISNIS INDONESIA
Bisnis Indonesia reported that, Coal producer PT Indo Tambangraya Megah Tbk (ITMG) targets to produce 25 million tons of coal this year, a 13. ...
Thursday, 20 January 11
DRY BULK MARKETS FALL SEES NO END - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Pundits indicating that the dry bulk market’s sentiment remains weak were justified, as the industry’s benchmark, the Baltic Dry Index ( ...
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- Merrill Lynch Commodities Europe
- Tata Chemicals Ltd - India
- Barasentosa Lestari - Indonesia
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- Dong Bac Coal Mineral Investment Coporation - Vietnam
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- Asia Pacific Energy Resources Ventures Inc, Philippines
- IEA Clean Coal Centre - UK
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
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- Singapore Mercantile Exchange
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- Alfred C Toepfer International GmbH - Germany
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- SN Aboitiz Power Inc, Philippines
- Antam Resourcindo - Indonesia
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- Ambuja Cements Ltd - India
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- South Luzon Thermal Energy Corporation
- Planning Commission, India
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- Orica Australia Pty. Ltd.
- Electricity Authority, New Zealand
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- Therma Luzon, Inc, Philippines
- Intertek Mineral Services - Indonesia
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- Toyota Tsusho Corporation, Japan
- Dalmia Cement Bharat India
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- Salva Resources Pvt Ltd - India
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- Independent Power Producers Association of India
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- Indian Oil Corporation Limited
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- Metalloyd Limited - United Kingdom
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- Price Waterhouse Coopers - Russia
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- PNOC Exploration Corporation - Philippines
- Energy Link Ltd, New Zealand
- Meenaskhi Energy Private Limited - India
- Oldendorff Carriers - Singapore
- Sarangani Energy Corporation, Philippines
- Goldman Sachs - Singapore
- GN Power Mariveles Coal Plant, Philippines
- ICICI Bank Limited - India
- Carbofer General Trading SA - India
- Baramulti Group, Indonesia
- Banpu Public Company Limited - Thailand
- Kohat Cement Company Ltd. - Pakistan
- Orica Mining Services - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Thiess Contractors Indonesia
- Bulk Trading Sa - Switzerland
- Kideco Jaya Agung - Indonesia
- Siam City Cement PLC, Thailand
- Attock Cement Pakistan Limited
- Parry Sugars Refinery, India
- London Commodity Brokers - England
- Eastern Energy - Thailand
- Lanco Infratech Ltd - India
- Medco Energi Mining Internasional
- Cement Manufacturers Association - India
- Vizag Seaport Private Limited - India
- India Bulls Power Limited - India
- Central Java Power - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Savvy Resources Ltd - HongKong
- Kartika Selabumi Mining - Indonesia
- Mercator Lines Limited - India
- Pendopo Energi Batubara - Indonesia
- SMG Consultants - Indonesia
- Bhoruka Overseas - Indonesia
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- Bukit Makmur.PT - Indonesia
- Heidelberg Cement - Germany
- Karaikal Port Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Straits Asia Resources Limited - Singapore
- Samtan Co., Ltd - South Korea
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- New Zealand Coal & Carbon
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- Bank of Tokyo Mitsubishi UFJ Ltd
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- Pipit Mutiara Jaya. PT, Indonesia
- Africa Commodities Group - South Africa
- Mjunction Services Limited - India
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- Sindya Power Generating Company Private Ltd
- Ind-Barath Power Infra Limited - India
- LBH Netherlands Bv - Netherlands
- GAC Shipping (India) Pvt Ltd
- PowerSource Philippines DevCo
- Maharashtra Electricity Regulatory Commission - India
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- Indika Energy - Indonesia
- Posco Energy - South Korea
- Minerals Council of Australia
- Global Green Power PLC Corporation, Philippines
- Ministry of Finance - Indonesia
- Jindal Steel & Power Ltd - India
- Essar Steel Hazira Ltd - India
- Videocon Industries ltd - India
- Standard Chartered Bank - UAE
- CIMB Investment Bank - Malaysia
- Romanian Commodities Exchange
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- Wilmar Investment Holdings
- Australian Commodity Traders Exchange
- Kaltim Prima Coal - Indonesia
- Iligan Light & Power Inc, Philippines
- Central Electricity Authority - India
- The State Trading Corporation of India Ltd
- Electricity Generating Authority of Thailand
- Miang Besar Coal Terminal - Indonesia
- Binh Thuan Hamico - Vietnam
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- TeaM Sual Corporation - Philippines
- Riau Bara Harum - Indonesia
- Australian Coal Association
- SMC Global Power, Philippines
- Parliament of New Zealand
- Grasim Industreis Ltd - India
- PTC India Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Aditya Birla Group - India
- White Energy Company Limited
- Marubeni Corporation - India
- Maheswari Brothers Coal Limited - India
- Latin American Coal - Colombia
- Timah Investasi Mineral - Indoneisa
- McConnell Dowell - Australia
- Global Coal Blending Company Limited - Australia
- Karbindo Abesyapradhi - Indoneisa
- Kepco SPC Power Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Sojitz Corporation - Japan
- IHS Mccloskey Coal Group - USA
- Directorate General of MIneral and Coal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- OPG Power Generation Pvt Ltd - India
- CNBM International Corporation - China
- Chamber of Mines of South Africa
- Directorate Of Revenue Intelligence - India
- International Coal Ventures Pvt Ltd - India
- Rio Tinto Coal - Australia
- Ministry of Transport, Egypt
- Edison Trading Spa - Italy
- Sakthi Sugars Limited - India
- Makarim & Taira - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Bhushan Steel Limited - India
- Ministry of Mines - Canada
- Bayan Resources Tbk. - Indonesia
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- Indian Energy Exchange, India
- Coal and Oil Company - UAE
- San Jose City I Power Corp, Philippines
- Star Paper Mills Limited - India
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- Trasteel International SA, Italy
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- Billiton Holdings Pty Ltd - Australia
- GVK Power & Infra Limited - India
- Larsen & Toubro Limited - India
- Aboitiz Power Corporation - Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Globalindo Alam Lestari - Indonesia
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