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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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Saturday, 30 August 14
RECOVERY IN SIGHT FOR THE DRY BULK SHIPPING MARKET - DREWRY SHIPPING CONSULTANTS
Despite weak freight rates so far this year, Dry Bulk shipping earnings are forecast to recover as demand for both major and minor bulk commodities ...
Friday, 29 August 14
U.S. WEEKLY COAL PRODUCTION DROPS 1.3 PERCENT, EIA SAYS
COALspot.com – United States the world's second largest coal producer, produced approximately 19.40 million short tons (mmst) of coal in ...
Friday, 29 August 14
ADARO'S PROFITS SINK FURTHER AMID FALL IN COAL PRICES - JP
Adaro Energy, one of the country’s largest coal miners, has reported a 31 percent drop in net profit in the first half of this year as global ...
Friday, 29 August 14
CHINESE LIGNITE IMPORTS: QUANTITY OVER QUALITY? - CLARKSONS
In the first half of 2014, Chinese seaborne coal imports declined 0.4% y-o-y to 148mt, largely reflecting a 3.3% fall in imports of steam coal. Mea ...
Thursday, 28 August 14
PANAMAX: OWNERS CAN GET AROUND USD 16000 FOR A FRONTHAUL; PERIOD MARKET - VERY QUIET - FEARNLEYS
Handy
The activity and sentiment is improving in the Atlantic with the general TA rate is up about US$ 800 w-o-w. We see more South American carg ...
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- Videocon Industries ltd - India
- Global Green Power PLC Corporation, Philippines
- Rio Tinto Coal - Australia
- White Energy Company Limited
- Ministry of Mines - Canada
- Sakthi Sugars Limited - India
- Ministry of Finance - Indonesia
- Savvy Resources Ltd - HongKong
- Merrill Lynch Commodities Europe
- Attock Cement Pakistan Limited
- AsiaOL BioFuels Corp., Philippines
- Interocean Group of Companies - India
- Central Electricity Authority - India
- New Zealand Coal & Carbon
- Anglo American - United Kingdom
- London Commodity Brokers - England
- SMG Consultants - Indonesia
- Siam City Cement PLC, Thailand
- Siam City Cement - Thailand
- Kapuas Tunggal Persada - Indonesia
- European Bulk Services B.V. - Netherlands
- Bukit Asam (Persero) Tbk - Indonesia
- The State Trading Corporation of India Ltd
- Sojitz Corporation - Japan
- Kideco Jaya Agung - Indonesia
- IHS Mccloskey Coal Group - USA
- Baramulti Group, Indonesia
- Kumho Petrochemical, South Korea
- SN Aboitiz Power Inc, Philippines
- PNOC Exploration Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Electricity Generating Authority of Thailand
- Krishnapatnam Port Company Ltd. - India
- Meenaskhi Energy Private Limited - India
- Singapore Mercantile Exchange
- Uttam Galva Steels Limited - India
- Coastal Gujarat Power Limited - India
- Indika Energy - Indonesia
- Chamber of Mines of South Africa
- Electricity Authority, New Zealand
- Bahari Cakrawala Sebuku - Indonesia
- Samtan Co., Ltd - South Korea
- MS Steel International - UAE
- Sarangani Energy Corporation, Philippines
- Georgia Ports Authority, United States
- Riau Bara Harum - Indonesia
- Oldendorff Carriers - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Tamil Nadu electricity Board
- Star Paper Mills Limited - India
- Jindal Steel & Power Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Marubeni Corporation - India
- Straits Asia Resources Limited - Singapore
- Tata Chemicals Ltd - India
- Ambuja Cements Ltd - India
- Metalloyd Limited - United Kingdom
- Bhatia International Limited - India
- Coal and Oil Company - UAE
- Energy Link Ltd, New Zealand
- Leighton Contractors Pty Ltd - Australia
- Bhoruka Overseas - Indonesia
- Makarim & Taira - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Neyveli Lignite Corporation Ltd, - India
- Bulk Trading Sa - Switzerland
- Carbofer General Trading SA - India
- Pendopo Energi Batubara - Indonesia
- The University of Queensland
- Alfred C Toepfer International GmbH - Germany
- Larsen & Toubro Limited - India
- Standard Chartered Bank - UAE
- Power Finance Corporation Ltd., India
- Malabar Cements Ltd - India
- The Treasury - Australian Government
- Holcim Trading Pte Ltd - Singapore
- Barasentosa Lestari - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Orica Australia Pty. Ltd.
- Sical Logistics Limited - India
- Bharathi Cement Corporation - India
- Aboitiz Power Corporation - Philippines
- Dalmia Cement Bharat India
- Renaissance Capital - South Africa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Lanco Infratech Ltd - India
- Maheswari Brothers Coal Limited - India
- Kepco SPC Power Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Billiton Holdings Pty Ltd - Australia
- Mercuria Energy - Indonesia
- IEA Clean Coal Centre - UK
- Independent Power Producers Association of India
- Mintek Dendrill Indonesia
- Borneo Indobara - Indonesia
- Thai Mozambique Logistica
- Economic Council, Georgia
- Price Waterhouse Coopers - Russia
- Indian Oil Corporation Limited
- Therma Luzon, Inc, Philippines
- Simpson Spence & Young - Indonesia
- Eastern Energy - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Trasteel International SA, Italy
- Vijayanagar Sugar Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- ICICI Bank Limited - India
- South Luzon Thermal Energy Corporation
- LBH Netherlands Bv - Netherlands
- Edison Trading Spa - Italy
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Intertek Mineral Services - Indonesia
- PowerSource Philippines DevCo
- Ministry of Transport, Egypt
- Indonesian Coal Mining Association
- Altura Mining Limited, Indonesia
- Vedanta Resources Plc - India
- Asmin Koalindo Tuhup - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Karaikal Port Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Globalindo Alam Lestari - Indonesia
- Central Java Power - Indonesia
- VISA Power Limited - India
- Antam Resourcindo - Indonesia
- India Bulls Power Limited - India
- Sindya Power Generating Company Private Ltd
- Wilmar Investment Holdings
- Africa Commodities Group - South Africa
- Gujarat Mineral Development Corp Ltd - India
- Indogreen Group - Indonesia
- Deloitte Consulting - India
- Kohat Cement Company Ltd. - Pakistan
- Ind-Barath Power Infra Limited - India
- Wood Mackenzie - Singapore
- Vizag Seaport Private Limited - India
- Medco Energi Mining Internasional
- Minerals Council of Australia
- Essar Steel Hazira Ltd - India
- Bhushan Steel Limited - India
- Timah Investasi Mineral - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- Posco Energy - South Korea
- Latin American Coal - Colombia
- Mercator Lines Limited - India
- Sinarmas Energy and Mining - Indonesia
- Chettinad Cement Corporation Ltd - India
- Binh Thuan Hamico - Vietnam
- Kobexindo Tractors - Indoneisa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Australian Commodity Traders Exchange
- Mjunction Services Limited - India
- ASAPP Information Group - India
- Iligan Light & Power Inc, Philippines
- Heidelberg Cement - Germany
- Directorate Of Revenue Intelligence - India
- Gujarat Electricity Regulatory Commission - India
- GN Power Mariveles Coal Plant, Philippines
- Bayan Resources Tbk. - Indonesia
- Coalindo Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Manunggal Multi Energi - Indonesia
- Bukit Baiduri Energy - Indonesia
- Global Business Power Corporation, Philippines
- Petron Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Semirara Mining Corp, Philippines
- PTC India Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Port Waratah Coal Services - Australia
- International Coal Ventures Pvt Ltd - India
- Parry Sugars Refinery, India
- Gujarat Sidhee Cement - India
- Madhucon Powers Ltd - India
- McConnell Dowell - Australia
- GVK Power & Infra Limited - India
- Toyota Tsusho Corporation, Japan
- Directorate General of MIneral and Coal - Indonesia
- Goldman Sachs - Singapore
- Parliament of New Zealand
- PetroVietnam Power Coal Import and Supply Company
- Australian Coal Association
- TeaM Sual Corporation - Philippines
- Rashtriya Ispat Nigam Limited - India
- Cement Manufacturers Association - India
- San Jose City I Power Corp, Philippines
- Xindia Steels Limited - India
- Eastern Coal Council - USA
- Romanian Commodities Exchange
- Planning Commission, India
- Commonwealth Bank - Australia
- Kartika Selabumi Mining - Indonesia
- Bangladesh Power Developement Board
- Aditya Birla Group - India
- Kalimantan Lumbung Energi - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Salva Resources Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- CNBM International Corporation - China
- Orica Mining Services - Indonesia
- GAC Shipping (India) Pvt Ltd
- SMC Global Power, Philippines
- Indian Energy Exchange, India
- Indo Tambangraya Megah - Indonesia
- Kaltim Prima Coal - Indonesia
- Agrawal Coal Company - India
- Banpu Public Company Limited - Thailand
- GMR Energy Limited - India
- Thiess Contractors Indonesia
- Formosa Plastics Group - Taiwan
- Energy Development Corp, Philippines
- Miang Besar Coal Terminal - Indonesia
- Meralco Power Generation, Philippines
- Grasim Industreis Ltd - India
- OPG Power Generation Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
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