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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$3.91 billion).
The revenue target from the coal sector was calculated based on the ministry’s coal output target this year to 455 million tons — higher than the initial aim of 425 million tons — to offset the ongoing decline in the commodity’s price.
From last year’s total output of 458 million tons, the mineral and coal office collected Rp 35.4 trillion in royalties from the holders of mineral and coal mining permits and contracts of work.
Indonesia’s coal production stood at 202.7 million tons in the first six months of the year, a 17.4 percent drop compared to 245.5 million tons in the same period last year, according to the office’s data.
Industry players have rejected the plan to increase the royalty payments as it would be too burdensome for their businesses, which have been under pressure because of the decline in coal prices.
“It is not the right time to impose the plan as some coal miners are planning to decrease production,” said Pandu Sjahrir, chairman of the Indonesian Coal Mining Association (APBI), as quoted by kontan.co.id.
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Friday, 14 August 15
CONDITIONS AND COMPLEXITIES IN A TRIPARTITE AGREEMENT: BE SPECIFIC! - INCE & CO
KNOWLEDGE TO ELEVATE
A tripartite agreement reached between the Owners, the Shippers and the Receivers provided that demurrage be paid to the ...
Thursday, 13 August 15
THE RATES FOR CAPES KEPT RALLYING LAST WEEK - INTERMODAL
COALspot.com: Strong Capesize performance kept supporting the Dry Bulk market last week, which noted another positive weekly closing, while rates f ...
Thursday, 13 August 15
FOB RICHARDS BAY COAL SWAPS CONTINUE FALLING
COALspot.com: API4 FOB Richards Bay Coal swap for delivery 4Q' 2015 declined month over month and week over week.
The 4Q swap was down US$ ...
Wednesday, 12 August 15
DRY BULK MARKET: WITHOUT A DOUBT REACHED HEALTHIER LEVEL
A few weeks before the end of the summer season, the BDI is hovering around 1,200 points, providing some much needed optimism to all Dry Bulk marke ...
Wednesday, 12 August 15
REGULATION CURBS POWER OF LOCAL AUTHORITIES IN MINING SECTOR IN INDONESIA - FLORENCE G. SANTOSO
The Indonesian Government appears to be getting serious about stripping Regents of the authority to issue mining licenses. The Government took the ...
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- SMG Consultants - Indonesia
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- Posco Energy - South Korea
- Port Waratah Coal Services - Australia
- Bharathi Cement Corporation - India
- MS Steel International - UAE
- TeaM Sual Corporation - Philippines
- Xindia Steels Limited - India
- Australian Commodity Traders Exchange
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- London Commodity Brokers - England
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- Salva Resources Pvt Ltd - India
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- White Energy Company Limited
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- Thai Mozambique Logistica
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- Petrochimia International Co. Ltd.- Taiwan
- Savvy Resources Ltd - HongKong
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- Thiess Contractors Indonesia
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- GVK Power & Infra Limited - India
- Sojitz Corporation - Japan
- CIMB Investment Bank - Malaysia
- GAC Shipping (India) Pvt Ltd
- Chamber of Mines of South Africa
- Baramulti Group, Indonesia
- SMC Global Power, Philippines
- Krishnapatnam Port Company Ltd. - India
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- Parliament of New Zealand
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- Romanian Commodities Exchange
- Uttam Galva Steels Limited - India
- Directorate Of Revenue Intelligence - India
- Price Waterhouse Coopers - Russia
- Cigading International Bulk Terminal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- The University of Queensland
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Tamil Nadu electricity Board
- Singapore Mercantile Exchange
- Australian Coal Association
- Directorate General of MIneral and Coal - Indonesia
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- Metalloyd Limited - United Kingdom
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- India Bulls Power Limited - India
- Petron Corporation, Philippines
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- Makarim & Taira - Indonesia
- Indo Tambangraya Megah - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Coastal Gujarat Power Limited - India
- Wilmar Investment Holdings
- Bayan Resources Tbk. - Indonesia
- Barasentosa Lestari - Indonesia
- Straits Asia Resources Limited - Singapore
- Electricity Generating Authority of Thailand
- Ministry of Finance - Indonesia
- Kideco Jaya Agung - Indonesia
- PowerSource Philippines DevCo
- Neyveli Lignite Corporation Ltd, - India
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- Heidelberg Cement - Germany
- Malabar Cements Ltd - India
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- Minerals Council of Australia
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- Bahari Cakrawala Sebuku - Indonesia
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- Orica Australia Pty. Ltd.
- Indonesian Coal Mining Association
- Medco Energi Mining Internasional
- Ambuja Cements Ltd - India
- Eastern Energy - Thailand
- Electricity Authority, New Zealand
- International Coal Ventures Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Intertek Mineral Services - Indonesia
- Georgia Ports Authority, United States
- Grasim Industreis Ltd - India
- Bhatia International Limited - India
- Therma Luzon, Inc, Philippines
- Carbofer General Trading SA - India
- Kobexindo Tractors - Indoneisa
- IEA Clean Coal Centre - UK
- Jindal Steel & Power Ltd - India
- Standard Chartered Bank - UAE
- Ministry of Mines - Canada
- Holcim Trading Pte Ltd - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Star Paper Mills Limited - India
- Oldendorff Carriers - Singapore
- Gujarat Sidhee Cement - India
- IHS Mccloskey Coal Group - USA
- Samtan Co., Ltd - South Korea
- Leighton Contractors Pty Ltd - Australia
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- Mintek Dendrill Indonesia
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- Parry Sugars Refinery, India
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- Indogreen Group - Indonesia
- Africa Commodities Group - South Africa
- Energy Link Ltd, New Zealand
- Bangladesh Power Developement Board
- Goldman Sachs - Singapore
- Asmin Koalindo Tuhup - Indonesia
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- Meenaskhi Energy Private Limited - India
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- Binh Thuan Hamico - Vietnam
- Energy Development Corp, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Power Finance Corporation Ltd., India
- TNB Fuel Sdn Bhd - Malaysia
- ASAPP Information Group - India
- South Luzon Thermal Energy Corporation
- Pipit Mutiara Jaya. PT, Indonesia
- PNOC Exploration Corporation - Philippines
- Sinarmas Energy and Mining - Indonesia
- Anglo American - United Kingdom
- Bukit Baiduri Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Attock Cement Pakistan Limited
- European Bulk Services B.V. - Netherlands
- VISA Power Limited - India
- Meralco Power Generation, Philippines
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- ICICI Bank Limited - India
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- LBH Netherlands Bv - Netherlands
- Kepco SPC Power Corporation, Philippines
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- Wood Mackenzie - Singapore
- Indian Energy Exchange, India
- Larsen & Toubro Limited - India
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