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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, 21 August 14
PREDICTIONS FROM VARIOUS SHIPPERS AND MINING INDUSTRY FOR 2ND HALF YEAR AND ESPECIALLY Q4 IS POSITIVE
Handy
The activity has increased in both hemispheres this week and we see rates edging up on all trades. TA´s are now paying around 8k whic ...
Thursday, 21 August 14
SHIP OWNERS KEEP SHYING AWAY FOR NEW SHIP INVESTMENTS, OVERALL TREND IS DOWN - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Ship owners have remained in the sidelines of the Sale & Purchasing market for second hand vessels, during most of August, while they also slow ...
Wednesday, 20 August 14
DRY BULK MARKET TO REBOUND IN THE FOURTH QUARTER, OR NOT....- NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The projected rebound of the dry bulk market is still an elusive trend and shipbrokers and analysts are looking to identify the timing of the loomi ...
Monday, 18 August 14
CAPESIZE RATES TO RISE TO MUCH HIGHER LEVELS THIS YEAR - JEFFREY LANDSBERG
COALspot.com: Capesize rates ended last week at $15,561/day, which marked a week-on-week increase of $6,167 (66%). Capesize rates have been a ...
Monday, 18 August 14
SUB-BIT FOB INDONESIA COAL SWAP CLOSED AT $58.60 FOR SEPTEMBER 2015; UP $4 FROM SEPTEMBER 2014 CLOSING
COALspot.com: Indonesian coal swaps for average September 2014 decreased US$ 0.15 (-0.27%) day on day and US$ 0.75 (-1.36%) per mt week on week. Th ...
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- Neyveli Lignite Corporation Ltd, - India
- CNBM International Corporation - China
- Price Waterhouse Coopers - Russia
- Aboitiz Power Corporation - Philippines
- Wilmar Investment Holdings
- Directorate Of Revenue Intelligence - India
- Sinarmas Energy and Mining - Indonesia
- Power Finance Corporation Ltd., India
- Madhucon Powers Ltd - India
- Manunggal Multi Energi - Indonesia
- Bangladesh Power Developement Board
- Semirara Mining Corp, Philippines
- Electricity Authority, New Zealand
- Global Coal Blending Company Limited - Australia
- Barasentosa Lestari - Indonesia
- Karaikal Port Pvt Ltd - India
- Orica Mining Services - Indonesia
- Vedanta Resources Plc - India
- Mjunction Services Limited - India
- Mercator Lines Limited - India
- Gujarat Mineral Development Corp Ltd - India
- McConnell Dowell - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Miang Besar Coal Terminal - Indonesia
- Riau Bara Harum - Indonesia
- AsiaOL BioFuels Corp., Philippines
- SMC Global Power, Philippines
- Indo Tambangraya Megah - Indonesia
- Rio Tinto Coal - Australia
- Straits Asia Resources Limited - Singapore
- Deloitte Consulting - India
- GN Power Mariveles Coal Plant, Philippines
- MS Steel International - UAE
- India Bulls Power Limited - India
- Attock Cement Pakistan Limited
- GVK Power & Infra Limited - India
- Toyota Tsusho Corporation, Japan
- Karbindo Abesyapradhi - Indoneisa
- Borneo Indobara - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kideco Jaya Agung - Indonesia
- Renaissance Capital - South Africa
- Ambuja Cements Ltd - India
- White Energy Company Limited
- Vijayanagar Sugar Pvt Ltd - India
- Kumho Petrochemical, South Korea
- TNB Fuel Sdn Bhd - Malaysia
- Independent Power Producers Association of India
- Directorate General of MIneral and Coal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Altura Mining Limited, Indonesia
- Banpu Public Company Limited - Thailand
- Thiess Contractors Indonesia
- Medco Energi Mining Internasional
- Ministry of Mines - Canada
- Central Electricity Authority - India
- San Jose City I Power Corp, Philippines
- South Luzon Thermal Energy Corporation
- Bukit Baiduri Energy - Indonesia
- Global Business Power Corporation, Philippines
- London Commodity Brokers - England
- Thai Mozambique Logistica
- Bhatia International Limited - India
- Edison Trading Spa - Italy
- Mintek Dendrill Indonesia
- Binh Thuan Hamico - Vietnam
- Energy Development Corp, Philippines
- Uttam Galva Steels Limited - India
- Grasim Industreis Ltd - India
- Petron Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Bhushan Steel Limited - India
- Sree Jayajothi Cements Limited - India
- Pendopo Energi Batubara - Indonesia
- Formosa Plastics Group - Taiwan
- Iligan Light & Power Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- ASAPP Information Group - India
- Bahari Cakrawala Sebuku - Indonesia
- PowerSource Philippines DevCo
- Meralco Power Generation, Philippines
- Electricity Generating Authority of Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Semirara Mining and Power Corporation, Philippines
- Sical Logistics Limited - India
- ICICI Bank Limited - India
- Vizag Seaport Private Limited - India
- Anglo American - United Kingdom
- Indonesian Coal Mining Association
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indika Energy - Indonesia
- PTC India Limited - India
- European Bulk Services B.V. - Netherlands
- Australian Coal Association
- Coastal Gujarat Power Limited - India
- Makarim & Taira - Indonesia
- Sakthi Sugars Limited - India
- CIMB Investment Bank - Malaysia
- Economic Council, Georgia
- Jaiprakash Power Ventures ltd
- Sojitz Corporation - Japan
- Tamil Nadu electricity Board
- The University of Queensland
- Star Paper Mills Limited - India
- Eastern Coal Council - USA
- Bank of Tokyo Mitsubishi UFJ Ltd
- Georgia Ports Authority, United States
- Port Waratah Coal Services - Australia
- Carbofer General Trading SA - India
- Intertek Mineral Services - Indonesia
- Interocean Group of Companies - India
- TeaM Sual Corporation - Philippines
- New Zealand Coal & Carbon
- Latin American Coal - Colombia
- Ceylon Electricity Board - Sri Lanka
- Dalmia Cement Bharat India
- SMG Consultants - Indonesia
- Posco Energy - South Korea
- Australian Commodity Traders Exchange
- Malabar Cements Ltd - India
- Maheswari Brothers Coal Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Oldendorff Carriers - Singapore
- Videocon Industries ltd - India
- Metalloyd Limited - United Kingdom
- Commonwealth Bank - Australia
- Antam Resourcindo - Indonesia
- Energy Link Ltd, New Zealand
- Jorong Barutama Greston.PT - Indonesia
- Lanco Infratech Ltd - India
- Alfred C Toepfer International GmbH - Germany
- International Coal Ventures Pvt Ltd - India
- Marubeni Corporation - India
- VISA Power Limited - India
- Minerals Council of Australia
- Jindal Steel & Power Ltd - India
- Ministry of Transport, Egypt
- Parliament of New Zealand
- Sarangani Energy Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Indian Energy Exchange, India
- Gujarat Electricity Regulatory Commission - India
- Pipit Mutiara Jaya. PT, Indonesia
- Chettinad Cement Corporation Ltd - India
- Kartika Selabumi Mining - Indonesia
- Rashtriya Ispat Nigam Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Gujarat Sidhee Cement - India
- Savvy Resources Ltd - HongKong
- Tata Chemicals Ltd - India
- GMR Energy Limited - India
- Bukit Makmur.PT - Indonesia
- Parry Sugars Refinery, India
- Essar Steel Hazira Ltd - India
- Central Java Power - Indonesia
- Indian Oil Corporation Limited
- Bayan Resources Tbk. - Indonesia
- SN Aboitiz Power Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Global Green Power PLC Corporation, Philippines
- Agrawal Coal Company - India
- Simpson Spence & Young - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Standard Chartered Bank - UAE
- Asmin Koalindo Tuhup - Indonesia
- Ind-Barath Power Infra Limited - India
- Singapore Mercantile Exchange
- Samtan Co., Ltd - South Korea
- Holcim Trading Pte Ltd - Singapore
- Siam City Cement - Thailand
- Krishnapatnam Port Company Ltd. - India
- Sindya Power Generating Company Private Ltd
- Heidelberg Cement - Germany
- Siam City Cement PLC, Thailand
- Wood Mackenzie - Singapore
- LBH Netherlands Bv - Netherlands
- Cement Manufacturers Association - India
- Kobexindo Tractors - Indoneisa
- Chamber of Mines of South Africa
- IEA Clean Coal Centre - UK
- Bhoruka Overseas - Indonesia
- Mercuria Energy - Indonesia
- Goldman Sachs - Singapore
- PNOC Exploration Corporation - Philippines
- Kepco SPC Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- The Treasury - Australian Government
- Africa Commodities Group - South Africa
- Therma Luzon, Inc, Philippines
- Baramulti Group, Indonesia
- Aditya Birla Group - India
- Cigading International Bulk Terminal - Indonesia
- Xindia Steels Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Meenaskhi Energy Private Limited - India
- Bharathi Cement Corporation - India
- Trasteel International SA, Italy
- Kaltim Prima Coal - Indonesia
- Coalindo Energy - Indonesia
- Coal and Oil Company - UAE
- Merrill Lynch Commodities Europe
- Larsen & Toubro Limited - India
- Indogreen Group - Indonesia
- OPG Power Generation Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Salva Resources Pvt Ltd - India
- Ministry of Finance - Indonesia
- Romanian Commodities Exchange
- Planning Commission, India
- Eastern Energy - Thailand
- The State Trading Corporation of India Ltd
- Kalimantan Lumbung Energi - Indonesia
- Orica Australia Pty. Ltd.
- GAC Shipping (India) Pvt Ltd
- Billiton Holdings Pty Ltd - Australia
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