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Sunday, 28 September 14
BERAU AGREES DEAL WITH GOVT, MINING AREA REDUCED - THE JAKARTA POST
 Coal miner PT Berau Coal, a subsidiary of Jakarta-listed PT Berau Coal Energy (BRAU), has signed a memorandum of understanding (MoU) with the government regarding detailed talks on the company’s coal-mining contract of work (CCoW) on Friday morning, as part of a series of contract renegotiations between the ministry and miners to comply with the 2009 Mining Law, as reported by The Jakarta post yesterday.
The Energy and Mineral Resources Ministry’s director for coal, Bambang Tjahjono, said his office and Berau Coal signed the MoU on Friday morning and under the MoU, Berau Coal has agreed on principal to adjustments to a number of aspects of its CCoW, including the size of its mining area and a royalty payment to the government of 13.5 percent, the paper further said.
“We will now move forward to draft the contract amendment, in which we will adjust several issues until the company’s contract of work expires, after the expiry date, all matters will be based on the prevailing law.” Bambang said, as quoted by paper.
Berau Coal has also in principal agreed to reduce its mining area by 10,391 hectares, the reduction means the company will only manage 108,009 ha until its CCoW expires in 2025, from its previous 118,400 ha., according to Bambang.
Under the Mining Law, coal-mining concessions are limited to 15,000 ha. “After the contract expires, all will be according to the law; even more sites will be released,” Bambang said, according to paper.
According to paper, Neither Berau Coal president director Amir Sambodo nor general manager for corporate communication Singgih Widagdo replied to text and phone calls from The Jakarta Post seeking confirmation.
The government has been struggling to renegotiate numerous coal and mineral contracts of work (CoWs) to comply with the law, the renegotiations are focused on six issues, adjustments in income to the state; adjustments to the size of mining areas; obligations of divestment; obligations for domestic processing; continuity of operations; and obligations to use local goods and services, the paper said.
Seventy-three CCoWs and 34 mineral non-coal CoWs need to be renegotiated. Berau Coal’s MoU signing follows previous deals between the government and other big coal players, including PT Kaltim Prima Coal (KPC), PT Arutmin Indonesia and PT Adaro Indonesia.
Under its MoU with the government, KPC agrees to reduce its mining size to 84,938 ha from its current 90,938 ha. Arutmin’s mining area will be cut to 55,573 ha from 58,898 ha. Meanwhile, Adaro has agreed to release around 6,000 ha of its 34,940 ha.
The paper further said, the signing of the MoUs also means that the companies have in principal agreed to see their CoWs, which vary from one company to another, changed into coal-mining permits, which apply in general according to the law, in return for extensions to their operations.
“However, a decision on extension — if any — will be determined by the new government, and it will consider the company’s performance in good mining practices and the fulfillment of its obligations to the government,” Sukhyar said.
Companies are allowed to apply for operating extensions two years prior to their expiry date. The extension is limited to two extensions of 10 years.
Arutmin’s CCoW will expire in 2019 and that of its sister company KPC in 2021, while Adaro’s CCoW will last until 2022.
Source: The Jakarta Post
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Thursday, 16 October 14
PANAMAX OWNERS RECEIVE A PREMIUM FOR GOING TO INDIA VIA INDONESIA - FEARNLEYS AS
Handy
The Handy/Supra market continues to slide in both hemispheres, said Fearnleys AS in its latest week report. In the Atlantic we see rates co ...
Thursday, 16 October 14
ARE WE GOING TO SHOOT OURSELVES IN THE FOOT ONCE AGAIN? - PANOS MAKRINOS
As the East part of our globe was coming back from its October holidays last week, everyone expected that the Dry Bulk market would follow suit and ...
Wednesday, 15 October 14
PANAMAX: ACTIVITY IN THE PACIFIC WAS UNIMPRESSIVE
The Dry Bulk market noted another weekly decline last week, while the BDI moved below 1,000 points taking down with it expectations that a post hol ...
Wednesday, 15 October 14
INDONESIAN COAL PRICE REFERENCE FELL TO FRESH MULTI-YEAR LOWS IN OCTOBER
COALspot.com - The Ministry of Energy & Mineral Resources of Indonesia revised down the coal bench mark price once again in October 2014.
...
Wednesday, 15 October 14
DRY BULK SHIPPING: RATE IMPROVEMENTS ARRIVED AS FORECAST, BUT UNCERTAINTY MOUNTS FOR 2015 DEMAND - BIMCO
BIMCO released its latest short term assessment of the dry bulk market, estimating that over the October-November period, the level of Capesize TC ...
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- Madhucon Powers Ltd - India
- Port Waratah Coal Services - Australia
- Kartika Selabumi Mining - Indonesia
- Karaikal Port Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Videocon Industries ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Simpson Spence & Young - Indonesia
- Orica Mining Services - Indonesia
- Essar Steel Hazira Ltd - India
- Georgia Ports Authority, United States
- Minerals Council of Australia
- Global Green Power PLC Corporation, Philippines
- McConnell Dowell - Australia
- The State Trading Corporation of India Ltd
- Indo Tambangraya Megah - Indonesia
- Thai Mozambique Logistica
- Sical Logistics Limited - India
- San Jose City I Power Corp, Philippines
- Wilmar Investment Holdings
- Coastal Gujarat Power Limited - India
- Commonwealth Bank - Australia
- Global Coal Blending Company Limited - Australia
- Siam City Cement - Thailand
- Carbofer General Trading SA - India
- Parliament of New Zealand
- Latin American Coal - Colombia
- Bhatia International Limited - India
- Kaltim Prima Coal - Indonesia
- Interocean Group of Companies - India
- Eastern Energy - Thailand
- Rashtriya Ispat Nigam Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Sindya Power Generating Company Private Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Meralco Power Generation, Philippines
- Globalindo Alam Lestari - Indonesia
- Bhoruka Overseas - Indonesia
- Australian Commodity Traders Exchange
- Thiess Contractors Indonesia
- Pendopo Energi Batubara - Indonesia
- Romanian Commodities Exchange
- Vizag Seaport Private Limited - India
- Vedanta Resources Plc - India
- Australian Coal Association
- Sakthi Sugars Limited - India
- Krishnapatnam Port Company Ltd. - India
- Kepco SPC Power Corporation, Philippines
- Agrawal Coal Company - India
- Dalmia Cement Bharat India
- Economic Council, Georgia
- Independent Power Producers Association of India
- The Treasury - Australian Government
- IHS Mccloskey Coal Group - USA
- Sinarmas Energy and Mining - Indonesia
- Deloitte Consulting - India
- Kumho Petrochemical, South Korea
- Borneo Indobara - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Orica Australia Pty. Ltd.
- Mercuria Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Power Finance Corporation Ltd., India
- GN Power Mariveles Coal Plant, Philippines
- Mercator Lines Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Larsen & Toubro Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Bulk Trading Sa - Switzerland
- Maheswari Brothers Coal Limited - India
- Siam City Cement PLC, Thailand
- Makarim & Taira - Indonesia
- Posco Energy - South Korea
- Antam Resourcindo - Indonesia
- LBH Netherlands Bv - Netherlands
- Savvy Resources Ltd - HongKong
- Bangladesh Power Developement Board
- Trasteel International SA, Italy
- PNOC Exploration Corporation - Philippines
- Salva Resources Pvt Ltd - India
- Ministry of Finance - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Toyota Tsusho Corporation, Japan
- Africa Commodities Group - South Africa
- PowerSource Philippines DevCo
- Star Paper Mills Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Energy Link Ltd, New Zealand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ministry of Transport, Egypt
- Central Electricity Authority - India
- ICICI Bank Limited - India
- OPG Power Generation Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Medco Energi Mining Internasional
- Gujarat Sidhee Cement - India
- Altura Mining Limited, Indonesia
- Samtan Co., Ltd - South Korea
- Banpu Public Company Limited - Thailand
- Lanco Infratech Ltd - India
- Marubeni Corporation - India
- VISA Power Limited - India
- IEA Clean Coal Centre - UK
- Bhushan Steel Limited - India
- Asmin Koalindo Tuhup - Indonesia
- International Coal Ventures Pvt Ltd - India
- MS Steel International - UAE
- South Luzon Thermal Energy Corporation
- Ministry of Mines - Canada
- Sree Jayajothi Cements Limited - India
- European Bulk Services B.V. - Netherlands
- Sojitz Corporation - Japan
- Attock Cement Pakistan Limited
- Merrill Lynch Commodities Europe
- The University of Queensland
- Jaiprakash Power Ventures ltd
- Manunggal Multi Energi - Indonesia
- Cement Manufacturers Association - India
- Gujarat Electricity Regulatory Commission - India
- GMR Energy Limited - India
- Anglo American - United Kingdom
- Directorate Of Revenue Intelligence - India
- Xindia Steels Limited - India
- Therma Luzon, Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Sarangani Energy Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Planning Commission, India
- Metalloyd Limited - United Kingdom
- New Zealand Coal & Carbon
- Straits Asia Resources Limited - Singapore
- Meenaskhi Energy Private Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Semirara Mining and Power Corporation, Philippines
- Renaissance Capital - South Africa
- Electricity Generating Authority of Thailand
- Bayan Resources Tbk. - Indonesia
- Chettinad Cement Corporation Ltd - India
- Iligan Light & Power Inc, Philippines
- Tata Chemicals Ltd - India
- Indian Oil Corporation Limited
- Intertek Mineral Services - Indonesia
- Eastern Coal Council - USA
- Uttam Galva Steels Limited - India
- Singapore Mercantile Exchange
- Baramulti Group, Indonesia
- Billiton Holdings Pty Ltd - Australia
- Timah Investasi Mineral - Indoneisa
- Alfred C Toepfer International GmbH - Germany
- AsiaOL BioFuels Corp., Philippines
- Malabar Cements Ltd - India
- Mintek Dendrill Indonesia
- Binh Thuan Hamico - Vietnam
- Energy Development Corp, Philippines
- CNBM International Corporation - China
- Aboitiz Power Corporation - Philippines
- Kideco Jaya Agung - Indonesia
- PTC India Limited - India
- Goldman Sachs - Singapore
- TeaM Sual Corporation - Philippines
- Edison Trading Spa - Italy
- Miang Besar Coal Terminal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- GAC Shipping (India) Pvt Ltd
- Bukit Makmur.PT - Indonesia
- Jindal Steel & Power Ltd - India
- Indian Energy Exchange, India
- Maharashtra Electricity Regulatory Commission - India
- Standard Chartered Bank - UAE
- Grasim Industreis Ltd - India
- SN Aboitiz Power Inc, Philippines
- SMC Global Power, Philippines
- India Bulls Power Limited - India
- Leighton Contractors Pty Ltd - Australia
- Global Business Power Corporation, Philippines
- Heidelberg Cement - Germany
- Tamil Nadu electricity Board
- Petron Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Bukit Baiduri Energy - Indonesia
- Bharathi Cement Corporation - India
- White Energy Company Limited
- Rio Tinto Coal - Australia
- GVK Power & Infra Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indika Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Coal and Oil Company - UAE
- Mjunction Services Limited - India
- Ind-Barath Power Infra Limited - India
- Coalindo Energy - Indonesia
- Aditya Birla Group - India
- Vijayanagar Sugar Pvt Ltd - India
- Indonesian Coal Mining Association
- Chamber of Mines of South Africa
- TNB Fuel Sdn Bhd - Malaysia
- SMG Consultants - Indonesia
- Parry Sugars Refinery, India
- Oldendorff Carriers - Singapore
- CIMB Investment Bank - Malaysia
- Indogreen Group - Indonesia
- Electricity Authority, New Zealand
- Formosa Plastics Group - Taiwan
- Price Waterhouse Coopers - Russia
- ASAPP Information Group - India
- Holcim Trading Pte Ltd - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Riau Bara Harum - Indonesia
- Semirara Mining Corp, Philippines
- Ambuja Cements Ltd - India
- Wood Mackenzie - Singapore
- London Commodity Brokers - England
- Central Java Power - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- Barasentosa Lestari - Indonesia
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