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Friday, 21 February 14
INDONESIA PLAN TO CAP COAL OUTPUT AND HIKE ROYALTY; START MUSIC
 COALspot.com: Energy and Mineral Resources Ministy of Indonesia is planning to increase the royalty for coal miners particularly for Mining Business License ( IUP ) holders up to 13.5%. According to industry, the government is planning to introduce a new royalty for IUP holders which is around 7% higher than the current royalty rates that applicable for IUP OP operators.
Coal mines operating under Mining Business Licences (IUPs) are currently paying lesser royalty than miners operating under coal contracts of work (CCOW).
Mining Business License holder of coal miners are required pay only 3% for below 5100 kcal/kg coal and 5% for 5100 - 6100 kcal/kg coal. A 7% royalty is applicable for coal with calorific value higher than 6100 kcal/kg coal.
According to government's new royalty tariff plan, coal mines operating under Mining Business Licences (IUPs) also subject to higher royalty. the miners who produce coal with calorific value below 5100 kcal/kg coal to pay 10% royalty compared to current royalty of 3%. A 7% percent increase is proposed for coal with calorific value below 6100 kcal/kg. In the meantime, a 6.5% increase is proposed for the coal producers who produce bituminous type of coal or calorific value of coal is above 6100 kcal/kg.
Indonesian Coal Mining Association has objected the government plan as the current global coal prices are in lower side and the miners' also suffering lower margin due to lower coal prices versus higher production cost. According to media reports, association has submitted a proposal to the government HBA linked royalty hike for consideration.
The media reports further say, association appealed to the government not to introduce any royalty hikes at this moment or if the HBA is lesser than US$ 100 per mt.
Association wants the royalty hike linked to Indonesian Coal Price Reference (HBA) which is declared by Director General of Mineral and Coal of Indonesia on monthly basis. Indonesia's February HBA was sets at US$ 80.44 per MT a 1.78% lower than January 2014 HBA.
According to available information, Indonesian Coal Mining Association has proposed a royalty hike of 1.75% if HBA is between US$ 100 - 110 per mt. If the HBA is up or reached between US$ 111 - 120 per mt, then association proposal shows a hike of 3.50% and HBA reached above US$ 120, then association wish to accept royalty hike of US$ 5.5% for coal with calorific value up to 6100 kcal/kg coal.
If the calorific value of coal is higher than 6100 kcal/kg coal, association has proposed a hike of 2% if HBA between US$ 100 -110 per mt. A 4% hike was proposed if HBA is between US$111-120 pet mt. HBA increased over US$ 120 per mt the association proposal also increased to 5.5% hike from the current 7%.
In the meantime, as quoted by media, the government officials stated that, they have already submitted the their proposal to Indonesian coal mining association based on 13.5% for open cut mines and 9% for underground mines.
This royalty hike will be legalized by president degree which is expected soon.
The recently, the Indonesian Ministry of Energy and Mineral Resources announced its plans to cap Indonesia's total coal output at 397m metric tonnes in 2014 - 6% lower than the 421m tonnes produced in 2013.
According to Fitch Ratings, the credit profiles of mining sub-contractors and miners highly reliant on increasing volumes to support high debt servicing will be most affected if Indonesia strictly implements limits on thermal coal production.
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Saturday, 22 February 14
POTEN RAISES THE QUESTION OF ACCURACY IN CALCULATING TANKER FREIGHT RATES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
As the tanker market has grown in complexity over the course of the past few years, the question of whether the traditional methods of assessing rat ...
Friday, 21 February 14
THE WORLD'S SECOND LARGEST COAL MINER MINED 19.2 MMST OF COAL IN A WEEK, EIA SAYS
COALspot.com – United States the world’s second largest coal producer, mined approximately 19.2 million short tons (mmst) of coal in a w ...
Friday, 21 February 14
DRY BULK MARKET SHOWS SIGNS OF LIFE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market has slowly started to emerge from the downfall it's been since the start of the year, as rates have began to pick up over the c ...
Friday, 21 February 14
INDONESIA COAL OUTPUT CAP TO HURT MINERS RELIANT ON VOLUME GROWTH, FITCH SAYS
Fitch Ratings says that the credit profiles of mining sub-contractors and miners highly reliant on increasing volumes to support high debt servicing w ...
Thursday, 20 February 14
LENGTHY DELAYS TO PANAMA CANAL EXPANSION POSE GLOBAL TRADE RISKS; US COAL PRODUCERS TO GREATLY BENEFIT ONCE COMPLETE, SAYS WOOD MACKENZIE
Wood Mackenzie expects the recent cost overrun disputes around the Panama Canal expansion to be resolved with limited disruption due to the signific ...
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- ASAPP Information Group - India
- Kobexindo Tractors - Indoneisa
- Holcim Trading Pte Ltd - Singapore
- Eastern Coal Council - USA
- Bhushan Steel Limited - India
- Kaltim Prima Coal - Indonesia
- Altura Mining Limited, Indonesia
- Orica Australia Pty. Ltd.
- Petrochimia International Co. Ltd.- Taiwan
- Leighton Contractors Pty Ltd - Australia
- Cigading International Bulk Terminal - Indonesia
- Binh Thuan Hamico - Vietnam
- Latin American Coal - Colombia
- Australian Commodity Traders Exchange
- Parry Sugars Refinery, India
- Economic Council, Georgia
- Bulk Trading Sa - Switzerland
- Ministry of Finance - Indonesia
- Timah Investasi Mineral - Indoneisa
- Independent Power Producers Association of India
- PTC India Limited - India
- Samtan Co., Ltd - South Korea
- Larsen & Toubro Limited - India
- Mercuria Energy - Indonesia
- Riau Bara Harum - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Siam City Cement PLC, Thailand
- Uttam Galva Steels Limited - India
- Kumho Petrochemical, South Korea
- Attock Cement Pakistan Limited
- Bank of Tokyo Mitsubishi UFJ Ltd
- Siam City Cement - Thailand
- Sakthi Sugars Limited - India
- Indian Energy Exchange, India
- Heidelberg Cement - Germany
- Makarim & Taira - Indonesia
- Vedanta Resources Plc - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Oldendorff Carriers - Singapore
- SMC Global Power, Philippines
- Carbofer General Trading SA - India
- Gujarat Sidhee Cement - India
- Georgia Ports Authority, United States
- Romanian Commodities Exchange
- Kartika Selabumi Mining - Indonesia
- Manunggal Multi Energi - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- International Coal Ventures Pvt Ltd - India
- Sojitz Corporation - Japan
- Global Green Power PLC Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Indonesian Coal Mining Association
- Sical Logistics Limited - India
- Alfred C Toepfer International GmbH - Germany
- Jaiprakash Power Ventures ltd
- Baramulti Group, Indonesia
- Formosa Plastics Group - Taiwan
- MS Steel International - UAE
- Coal and Oil Company - UAE
- Pipit Mutiara Jaya. PT, Indonesia
- CNBM International Corporation - China
- Petron Corporation, Philippines
- McConnell Dowell - Australia
- Kepco SPC Power Corporation, Philippines
- Indogreen Group - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Planning Commission, India
- Sindya Power Generating Company Private Ltd
- Renaissance Capital - South Africa
- Dalmia Cement Bharat India
- Pendopo Energi Batubara - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Maheswari Brothers Coal Limited - India
- Trasteel International SA, Italy
- Globalindo Alam Lestari - Indonesia
- Intertek Mineral Services - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Bharathi Cement Corporation - India
- Edison Trading Spa - Italy
- IEA Clean Coal Centre - UK
- Africa Commodities Group - South Africa
- Orica Mining Services - Indonesia
- Thai Mozambique Logistica
- The State Trading Corporation of India Ltd
- Posco Energy - South Korea
- Directorate General of MIneral and Coal - Indonesia
- Ambuja Cements Ltd - India
- Barasentosa Lestari - Indonesia
- Merrill Lynch Commodities Europe
- Videocon Industries ltd - India
- Indian Oil Corporation Limited
- Grasim Industreis Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Semirara Mining and Power Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Thiess Contractors Indonesia
- Standard Chartered Bank - UAE
- Metalloyd Limited - United Kingdom
- Sarangani Energy Corporation, Philippines
- PowerSource Philippines DevCo
- Price Waterhouse Coopers - Russia
- Goldman Sachs - Singapore
- Australian Coal Association
- Eastern Energy - Thailand
- GVK Power & Infra Limited - India
- Xindia Steels Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Ministry of Mines - Canada
- CIMB Investment Bank - Malaysia
- Medco Energi Mining Internasional
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Interocean Group of Companies - India
- Meralco Power Generation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- The Treasury - Australian Government
- Tata Chemicals Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Indo Tambangraya Megah - Indonesia
- SN Aboitiz Power Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Bhoruka Overseas - Indonesia
- VISA Power Limited - India
- Krishnapatnam Port Company Ltd. - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Chettinad Cement Corporation Ltd - India
- South Luzon Thermal Energy Corporation
- London Commodity Brokers - England
- Toyota Tsusho Corporation, Japan
- Global Coal Blending Company Limited - Australia
- Bukit Makmur.PT - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Energy Development Corp, Philippines
- Coalindo Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Vizag Seaport Private Limited - India
- The University of Queensland
- Star Paper Mills Limited - India
- Singapore Mercantile Exchange
- Sree Jayajothi Cements Limited - India
- Karaikal Port Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Cement Manufacturers Association - India
- Miang Besar Coal Terminal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Parliament of New Zealand
- New Zealand Coal & Carbon
- Bangladesh Power Developement Board
- Bayan Resources Tbk. - Indonesia
- Therma Luzon, Inc, Philippines
- Rio Tinto Coal - Australia
- Electricity Authority, New Zealand
- Agrawal Coal Company - India
- Anglo American - United Kingdom
- Meenaskhi Energy Private Limited - India
- Simpson Spence & Young - Indonesia
- IHS Mccloskey Coal Group - USA
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mercator Lines Limited - India
- Aditya Birla Group - India
- Port Waratah Coal Services - Australia
- Bukit Baiduri Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Commonwealth Bank - Australia
- Wood Mackenzie - Singapore
- Billiton Holdings Pty Ltd - Australia
- Power Finance Corporation Ltd., India
- Energy Link Ltd, New Zealand
- Salva Resources Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Electricity Generating Authority of Thailand
- Essar Steel Hazira Ltd - India
- Semirara Mining Corp, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Malabar Cements Ltd - India
- GMR Energy Limited - India
- Ind-Barath Power Infra Limited - India
- TeaM Sual Corporation - Philippines
- Wilmar Investment Holdings
- Straits Asia Resources Limited - Singapore
- Iligan Light & Power Inc, Philippines
- Madhucon Powers Ltd - India
- Mintek Dendrill Indonesia
- Ceylon Electricity Board - Sri Lanka
- Central Java Power - Indonesia
- Global Business Power Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Mjunction Services Limited - India
- Sinarmas Energy and Mining - Indonesia
- SMG Consultants - Indonesia
- San Jose City I Power Corp, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- White Energy Company Limited
- LBH Netherlands Bv - Netherlands
- Minerals Council of Australia
- Chamber of Mines of South Africa
- Marubeni Corporation - India
- PetroVietnam Power Coal Import and Supply Company
- India Bulls Power Limited - India
- Central Electricity Authority - India
- Lanco Infratech Ltd - India
- OPG Power Generation Pvt Ltd - India
- Ministry of Transport, Egypt
- Tamil Nadu electricity Board
- Savvy Resources Ltd - HongKong
- Bahari Cakrawala Sebuku - Indonesia
- Bhatia International Limited - India
- Borneo Indobara - Indonesia
- ICICI Bank Limited - India
- Jindal Steel & Power Ltd - India
- Indika Energy - Indonesia
- Antam Resourcindo - Indonesia
- Deloitte Consulting - India
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