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Wednesday, 18 May 11
OVERHAUL OF MINING LAW MAY DETER INVESTMENT, S&P SAYS - THE JAKARTA GLOBE
The Jakarta Globe, an Indonesian English language news paper reported that, A report by Standard & Poor’s Ratings Services that a regulatory overhaul of Indonesia’s mining industry would hurt companies’ performance received mixed reviews from industry players on Tuesday.
The report, “Indonesia’s Mining Law of 2009 and Subsequent Regulations: Unearthing the Impact,” explored how the law would affect companies in the country’s mining sector.
Credit analyst Xavier Jean said he did not anticipate any immediate implications for the rating of mining companies since Standard & Poor’s ratings already incorporated degrees of regulatory risk.
“Some regulatory provisions have direct implications for the revenue, profitability, capital expenditure and cash flow of mining companies in Indonesia,” Jean said. “Besides increasing operating uncertainty for Indonesian mining companies, we believe the new regulations may also make the industry less attractive to foreign investors.”
Increased operating costs, possible delays in awarding mining licenses because of decentralized decision-making and requirements for greater domestic processing were among the factors that could weight on profits.
He also said the regulatory environment was “still evolving, and the implementation of government regulations passed so far may differ somewhat from their original forms.”
Under the 2009 law, regional governments will issue mining licenses instead of the central government. It also reduced the lifespan of the new regulations to 20 years, down from 40 years in the previous law, and required miners to set aside 25 percent of their production for sale in Indonesia.
Bimo Budi Satriyo, corporate secretary of Aneka Tambang, Indonesia’s largest gold and nickel producer, said the law was an opportunity and a challenge.
“I think the regulation is good because the government does not want companies to only sell natural resources,” he said. “There will be added value for minerals, and in the end that will create a multiplier effect that can improve the economy within the region.”
Aneka Tambang already has a number of mineral processing projects in the works, Bimo continued, including a bauxite refinery in West Kalimantan and three smelters in South Sulawesi.
Bob Kamandanu, chairman of the Indonesian Coal Mining Association (APBI) and a commissioner of Berau Coal, said the shorter lifetime of the regulations created uncertainty.
“Coal mining is a long-term business. Twenty years is too short,” he said.
Sudharta, spokesman for state coal miner Perusahaan Tambang Batubara Bukit Asam, said he was confident the new law would not have any adverse effects on the company.
Source: The Jakarta Globe
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Thursday, 13 May 10
ACTIVITY ON WEST COAST INDIA IS SLOWING - FEARNLEYS AS
DRY BULK CHARTERING
Handy
Atlantic markets remain firm but more for end May/beg June dates as there seems to be more enquiries for those dates. ...
Thursday, 13 May 10
DRY BULK SHIP OWNERS CHEERFUL AMID MARKET RALLY
China’s appetite for raw materials like iron ore and coal, as well as a series of added factors are boosting demand for dry bulk carriers, hel ...
Wednesday, 12 May 10
BANPU'S Q1 PROFIT SLIDES 43% TO B2.71BN - BANGKOK POST
The Bangkokpost reported that, Banpu Plc posted a first-quarter net profit of 2.71 billion baht, down by 43% from the same period last year.
The ...
Tuesday, 11 May 10
DALRYMPLE BAY COAL EXPORTS HIGHEST SINCE JULY; NEWCASTLE FALLS - BLOOMBERG
Bloomberg reported that, Coal shipments from Australia’s Dalrymple Bay terminal in Queensland state rose to the highest in nine months in Apri ...
Tuesday, 11 May 10
DRY BULK RATES SHOOT UP ON STRONG CARGO DEMAND
The dry bulk industry’s benchmark, the Baltic Dry Index (BDI) has kept its momentum, as predicted by analysts and shipping experts, managing t ...
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- Bank of Tokyo Mitsubishi UFJ Ltd
- Heidelberg Cement - Germany
- IHS Mccloskey Coal Group - USA
- Kapuas Tunggal Persada - Indonesia
- Star Paper Mills Limited - India
- Global Business Power Corporation, Philippines
- Africa Commodities Group - South Africa
- Mercuria Energy - Indonesia
- White Energy Company Limited
- GMR Energy Limited - India
- Energy Link Ltd, New Zealand
- Electricity Authority, New Zealand
- Bhatia International Limited - India
- Global Green Power PLC Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Videocon Industries ltd - India
- Bharathi Cement Corporation - India
- Meralco Power Generation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Coalindo Energy - Indonesia
- Siam City Cement PLC, Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Mines - Canada
- Romanian Commodities Exchange
- PTC India Limited - India
- Essar Steel Hazira Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Antam Resourcindo - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Global Coal Blending Company Limited - Australia
- Samtan Co., Ltd - South Korea
- TeaM Sual Corporation - Philippines
- Medco Energi Mining Internasional
- Bhushan Steel Limited - India
- SN Aboitiz Power Inc, Philippines
- Orica Mining Services - Indonesia
- Jindal Steel & Power Ltd - India
- Commonwealth Bank - Australia
- Central Electricity Authority - India
- Timah Investasi Mineral - Indoneisa
- The State Trading Corporation of India Ltd
- New Zealand Coal & Carbon
- Billiton Holdings Pty Ltd - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ambuja Cements Ltd - India
- Bukit Makmur.PT - Indonesia
- PNOC Exploration Corporation - Philippines
- AsiaOL BioFuels Corp., Philippines
- South Luzon Thermal Energy Corporation
- VISA Power Limited - India
- Toyota Tsusho Corporation, Japan
- Binh Thuan Hamico - Vietnam
- Power Finance Corporation Ltd., India
- Pendopo Energi Batubara - Indonesia
- Straits Asia Resources Limited - Singapore
- Mintek Dendrill Indonesia
- Rashtriya Ispat Nigam Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Uttam Galva Steels Limited - India
- Savvy Resources Ltd - HongKong
- Mjunction Services Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Price Waterhouse Coopers - Russia
- Simpson Spence & Young - Indonesia
- Mercator Lines Limited - India
- Merrill Lynch Commodities Europe
- Sical Logistics Limited - India
- Deloitte Consulting - India
- Australian Commodity Traders Exchange
- Energy Development Corp, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Goldman Sachs - Singapore
- Ind-Barath Power Infra Limited - India
- Sindya Power Generating Company Private Ltd
- Trasteel International SA, Italy
- Meenaskhi Energy Private Limited - India
- Altura Mining Limited, Indonesia
- Orica Australia Pty. Ltd.
- Ministry of Transport, Egypt
- Indo Tambangraya Megah - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Vedanta Resources Plc - India
- Iligan Light & Power Inc, Philippines
- San Jose City I Power Corp, Philippines
- Gujarat Sidhee Cement - India
- Grasim Industreis Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Globalindo Alam Lestari - Indonesia
- Sakthi Sugars Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Holcim Trading Pte Ltd - Singapore
- London Commodity Brokers - England
- International Coal Ventures Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Karaikal Port Pvt Ltd - India
- MS Steel International - UAE
- Coastal Gujarat Power Limited - India
- Siam City Cement - Thailand
- Indika Energy - Indonesia
- Indian Oil Corporation Limited
- Parry Sugars Refinery, India
- Tamil Nadu electricity Board
- Wilmar Investment Holdings
- Carbofer General Trading SA - India
- Agrawal Coal Company - India
- Bukit Asam (Persero) Tbk - Indonesia
- SMC Global Power, Philippines
- Kumho Petrochemical, South Korea
- Sarangani Energy Corporation, Philippines
- Makarim & Taira - Indonesia
- Indian Energy Exchange, India
- Kobexindo Tractors - Indoneisa
- Kalimantan Lumbung Energi - Indonesia
- Maheswari Brothers Coal Limited - India
- Formosa Plastics Group - Taiwan
- CIMB Investment Bank - Malaysia
- Marubeni Corporation - India
- Baramulti Group, Indonesia
- Bangladesh Power Developement Board
- GAC Shipping (India) Pvt Ltd
- Anglo American - United Kingdom
- Chettinad Cement Corporation Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Aboitiz Power Corporation - Philippines
- Thiess Contractors Indonesia
- Wood Mackenzie - Singapore
- SMG Consultants - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Minerals Council of Australia
- The Treasury - Australian Government
- Coal and Oil Company - UAE
- Neyveli Lignite Corporation Ltd, - India
- Rio Tinto Coal - Australia
- Indogreen Group - Indonesia
- Kideco Jaya Agung - Indonesia
- IEA Clean Coal Centre - UK
- India Bulls Power Limited - India
- Metalloyd Limited - United Kingdom
- Thai Mozambique Logistica
- Central Java Power - Indonesia
- ICICI Bank Limited - India
- Economic Council, Georgia
- Electricity Generating Authority of Thailand
- Alfred C Toepfer International GmbH - Germany
- McConnell Dowell - Australia
- Parliament of New Zealand
- Borneo Indobara - Indonesia
- Attock Cement Pakistan Limited
- Kartika Selabumi Mining - Indonesia
- Petron Corporation, Philippines
- PowerSource Philippines DevCo
- Ceylon Electricity Board - Sri Lanka
- Eastern Energy - Thailand
- Banpu Public Company Limited - Thailand
- Lanco Infratech Ltd - India
- Georgia Ports Authority, United States
- Latin American Coal - Colombia
- Oldendorff Carriers - Singapore
- Xindia Steels Limited - India
- ASAPP Information Group - India
- Tata Chemicals Ltd - India
- Directorate Of Revenue Intelligence - India
- Jaiprakash Power Ventures ltd
- Cement Manufacturers Association - India
- GN Power Mariveles Coal Plant, Philippines
- European Bulk Services B.V. - Netherlands
- LBH Netherlands Bv - Netherlands
- GVK Power & Infra Limited - India
- Larsen & Toubro Limited - India
- Port Waratah Coal Services - Australia
- Interocean Group of Companies - India
- Sree Jayajothi Cements Limited - India
- Bulk Trading Sa - Switzerland
- Semirara Mining Corp, Philippines
- Posco Energy - South Korea
- Bayan Resources Tbk. - Indonesia
- Madhucon Powers Ltd - India
- Cigading International Bulk Terminal - Indonesia
- The University of Queensland
- Manunggal Multi Energi - Indonesia
- Planning Commission, India
- Vijayanagar Sugar Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Chamber of Mines of South Africa
- Eastern Coal Council - USA
- Therma Luzon, Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- Petrochimia International Co. Ltd.- Taiwan
- Dalmia Cement Bharat India
- Kepco SPC Power Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Riau Bara Harum - Indonesia
- Intertek Mineral Services - Indonesia
- Australian Coal Association
- Aditya Birla Group - India
- Malabar Cements Ltd - India
- OPG Power Generation Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Singapore Mercantile Exchange
- Sojitz Corporation - Japan
- Edison Trading Spa - Italy
- Independent Power Producers Association of India
- Maharashtra Electricity Regulatory Commission - India
- Indonesian Coal Mining Association
- Standard Chartered Bank - UAE
- Ministry of Finance - Indonesia
- Renaissance Capital - South Africa
- CNBM International Corporation - China
- Karbindo Abesyapradhi - Indoneisa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Barasentosa Lestari - Indonesia
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