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Tuesday, 28 July 15
INDONESIA DELAYS PLAN TO RAISE COAL ROYALTIES AMID PLUNGING PRICE - JP
 The government will postpone a plan to increase royalty payments from coal miners as they are already burdened with the commodity’s plunging price, a top official has said, the Jakarta post reported.
The JP further reported that, the decision was based a government review in which it found that the low global coal price had prompted ongoing losses for coal miners in Indonesia, one of world’s major producers of the commodity.
“The government decided to review the plan based on the current situation and price,” Energy and Mineral Resources Ministry’s director general for mineral and coal, Bambang Gatot Ariyono, said last week.
Coal price reference (HBA) for 6,322 kcal/kg coal stood at US$ 59.16 per ton for July, down from around $63 per ton at the beginning of the year and half the price it was four years ago, over $127 per ton.
Bambang said the government had acknowledged that the current coal price slump was caused by weak local and global demand as Indonesia and countries that import the commodity faced weaker economic growth.
The paper further noted that, the ministry’s initial proposal was to increase royalty payments for all coal types to the range of 7 to 13.5 percent, an increase from the current level of 3 percent for low-calorie coal, 5 percent for the medium-calorie type and 7 percent for high calorie, as stipulated in a 2012 regulation.
The plan was based on the ministry’s assessment that the current level would unlikely help the mineral and coal office meet its non-tax revenue (PNBP) target this year of Rp 52.5 trillion (US$3.91 billion).
The revenue target from the coal sector was calculated based on the ministry’s coal output target this year to 455 million tons — higher than the initial aim of 425 million tons — to offset the ongoing decline in the commodity’s price.
From last year’s total output of 458 million tons, the mineral and coal office collected Rp 35.4 trillion in royalties from the holders of mineral and coal mining permits and contracts of work.
Indonesia’s coal production stood at 202.7 million tons in the first six months of the year, a 17.4 percent drop compared to 245.5 million tons in the same period last year, according to the office’s data.
Industry players have rejected the plan to increase the royalty payments as it would be too burdensome for their businesses, which have been under pressure because of the decline in coal prices.
“It is not the right time to impose the plan as some coal miners are planning to decrease production,” said Pandu Sjahrir, chairman of the Indonesian Coal Mining Association (APBI), as quoted by kontan.co.id.
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Wednesday, 19 August 15
FOB INDONESIA COAL SWAPS CONTINUE FLAT TREND LINE THIS WEEK
COALspot.com: Indonesian coal swap for delivery 4Q 2015 declined month on month and flat week over week, this past week.
The 4Q swap was decli ...
Tuesday, 18 August 15
DRY BULK: MARKETS HAVE CONTINUED TO BE SEVERELY CHALLENGED - CLARKSONS
The dry bulk markets have continued to be severely challenged with freight rates falling during the period to below operating expense. The Baltic D ...
Tuesday, 18 August 15
1Q'16 FOB RICHARDS BAY COAL SWAP FALLS BELOW $54 A TON
COALspot.com: API4 FOB Richards Bay Coal swap for delivery 4Q' 2015 declined month over month and week over week.
The 4Q swap was down US$ ...
Tuesday, 18 August 15
2Q' 16 FOB NEWCASTLE COAL SWAP CLOSED AT $43 PER MT W/E 14 AUGUST
COALspot.com: API 5 FOB Newcastle Coal swap for 4Q’ 2015 delivery down $ 1.08 per MT (-2.46%) month over month to US$ 42.82 per mt. The swap ...
Monday, 17 August 15
TROUBLED DRY BULK MARKET FACES TURMOIL AS CHINESE COAL IMPORTS REMAIN WEAK - BIMCO
The demand for coal in China continues to diminish. So much in fact that India is expected to succeed China as the world’s largest imp ...
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