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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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- Sojitz Corporation - Japan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- CIMB Investment Bank - Malaysia
- OPG Power Generation Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Gujarat Electricity Regulatory Commission - India
- Larsen & Toubro Limited - India
- Jindal Steel & Power Ltd - India
- India Bulls Power Limited - India
- Africa Commodities Group - South Africa
- Wilmar Investment Holdings
- SN Aboitiz Power Inc, Philippines
- Bukit Makmur.PT - Indonesia
- LBH Netherlands Bv - Netherlands
- Thiess Contractors Indonesia
- Sinarmas Energy and Mining - Indonesia
- Kaltim Prima Coal - Indonesia
- Attock Cement Pakistan Limited
- Anglo American - United Kingdom
- Merrill Lynch Commodities Europe
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Mines - Canada
- Binh Thuan Hamico - Vietnam
- Medco Energi Mining Internasional
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Electricity Generating Authority of Thailand
- Central Electricity Authority - India
- Bharathi Cement Corporation - India
- Makarim & Taira - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Bayan Resources Tbk. - Indonesia
- Port Waratah Coal Services - Australia
- PTC India Limited - India
- Malabar Cements Ltd - India
- Carbofer General Trading SA - India
- Antam Resourcindo - Indonesia
- Chettinad Cement Corporation Ltd - India
- Ministry of Transport, Egypt
- Jaiprakash Power Ventures ltd
- Leighton Contractors Pty Ltd - Australia
- Grasim Industreis Ltd - India
- SMG Consultants - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Electricity Authority, New Zealand
- Mintek Dendrill Indonesia
- Bangladesh Power Developement Board
- Metalloyd Limited - United Kingdom
- The State Trading Corporation of India Ltd
- Heidelberg Cement - Germany
- Bulk Trading Sa - Switzerland
- Aboitiz Power Corporation - Philippines
- IHS Mccloskey Coal Group - USA
- Central Java Power - Indonesia
- Formosa Plastics Group - Taiwan
- Economic Council, Georgia
- Singapore Mercantile Exchange
- Pendopo Energi Batubara - Indonesia
- Global Coal Blending Company Limited - Australia
- Madhucon Powers Ltd - India
- Indika Energy - Indonesia
- Indogreen Group - Indonesia
- Altura Mining Limited, Indonesia
- The University of Queensland
- Romanian Commodities Exchange
- Orica Mining Services - Indonesia
- Siam City Cement - Thailand
- Planning Commission, India
- Toyota Tsusho Corporation, Japan
- Holcim Trading Pte Ltd - Singapore
- New Zealand Coal & Carbon
- ASAPP Information Group - India
- Eastern Coal Council - USA
- Borneo Indobara - Indonesia
- Bhushan Steel Limited - India
- Simpson Spence & Young - Indonesia
- PowerSource Philippines DevCo
- Rashtriya Ispat Nigam Limited - India
- Tamil Nadu electricity Board
- Bukit Baiduri Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Coastal Gujarat Power Limited - India
- International Coal Ventures Pvt Ltd - India
- Indonesian Coal Mining Association
- Thai Mozambique Logistica
- GMR Energy Limited - India
- TeaM Sual Corporation - Philippines
- The Treasury - Australian Government
- Energy Link Ltd, New Zealand
- AsiaOL BioFuels Corp., Philippines
- Lanco Infratech Ltd - India
- Kobexindo Tractors - Indoneisa
- Petron Corporation, Philippines
- Independent Power Producers Association of India
- Jorong Barutama Greston.PT - Indonesia
- Global Business Power Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Kapuas Tunggal Persada - Indonesia
- Indian Oil Corporation Limited
- Krishnapatnam Port Company Ltd. - India
- GVK Power & Infra Limited - India
- Rio Tinto Coal - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sical Logistics Limited - India
- Parry Sugars Refinery, India
- Vijayanagar Sugar Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Therma Luzon, Inc, Philippines
- Latin American Coal - Colombia
- Oldendorff Carriers - Singapore
- Ceylon Electricity Board - Sri Lanka
- Mercator Lines Limited - India
- Goldman Sachs - Singapore
- Videocon Industries ltd - India
- Bhatia International Limited - India
- Interocean Group of Companies - India
- ICICI Bank Limited - India
- SMC Global Power, Philippines
- Georgia Ports Authority, United States
- Baramulti Group, Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Star Paper Mills Limited - India
- Standard Chartered Bank - UAE
- Indo Tambangraya Megah - Indonesia
- Vizag Seaport Private Limited - India
- Kepco SPC Power Corporation, Philippines
- Renaissance Capital - South Africa
- Manunggal Multi Energi - Indonesia
- Ind-Barath Power Infra Limited - India
- Siam City Cement PLC, Thailand
- Sindya Power Generating Company Private Ltd
- Australian Commodity Traders Exchange
- Chamber of Mines of South Africa
- Global Green Power PLC Corporation, Philippines
- Riau Bara Harum - Indonesia
- Trasteel International SA, Italy
- Banpu Public Company Limited - Thailand
- Timah Investasi Mineral - Indoneisa
- Energy Development Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Cement Manufacturers Association - India
- Wood Mackenzie - Singapore
- White Energy Company Limited
- Bahari Cakrawala Sebuku - Indonesia
- Samtan Co., Ltd - South Korea
- Sree Jayajothi Cements Limited - India
- CNBM International Corporation - China
- Indian Energy Exchange, India
- McConnell Dowell - Australia
- Xindia Steels Limited - India
- Miang Besar Coal Terminal - Indonesia
- Semirara Mining Corp, Philippines
- London Commodity Brokers - England
- Ministry of Finance - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Intertek Mineral Services - Indonesia
- Power Finance Corporation Ltd., India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Coal and Oil Company - UAE
- Karbindo Abesyapradhi - Indoneisa
- Billiton Holdings Pty Ltd - Australia
- Semirara Mining and Power Corporation, Philippines
- Mjunction Services Limited - India
- Vedanta Resources Plc - India
- Meralco Power Generation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Bukit Asam (Persero) Tbk - Indonesia
- Karaikal Port Pvt Ltd - India
- Agrawal Coal Company - India
- Uttam Galva Steels Limited - India
- Orica Australia Pty. Ltd.
- Aditya Birla Group - India
- Parliament of New Zealand
- Maheswari Brothers Coal Limited - India
- Ambuja Cements Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Sakthi Sugars Limited - India
- Sarangani Energy Corporation, Philippines
- Deloitte Consulting - India
- Maharashtra Electricity Regulatory Commission - India
- TNB Fuel Sdn Bhd - Malaysia
- Salva Resources Pvt Ltd - India
- Posco Energy - South Korea
- GAC Shipping (India) Pvt Ltd
- Kideco Jaya Agung - Indonesia
- Marubeni Corporation - India
- Edison Trading Spa - Italy
- Tata Chemicals Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Kohat Cement Company Ltd. - Pakistan
- Iligan Light & Power Inc, Philippines
- Mercuria Energy - Indonesia
- Essar Steel Hazira Ltd - India
- IEA Clean Coal Centre - UK
- Asmin Koalindo Tuhup - Indonesia
- MS Steel International - UAE
- Directorate Of Revenue Intelligence - India
- Price Waterhouse Coopers - Russia
- PNOC Exploration Corporation - Philippines
- San Jose City I Power Corp, Philippines
- Bhoruka Overseas - Indonesia
- European Bulk Services B.V. - Netherlands
- Dalmia Cement Bharat India
- South Luzon Thermal Energy Corporation
- Eastern Energy - Thailand
- Gujarat Sidhee Cement - India
- Australian Coal Association
- VISA Power Limited - India
- Meenaskhi Energy Private Limited - India
- Barasentosa Lestari - Indonesia
- Straits Asia Resources Limited - Singapore
- Minerals Council of Australia
- Commonwealth Bank - Australia
- Coalindo Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
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