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Thursday, 05 July 12
GOVT GETS READY FOR $1.8B SUIT - THE JAKARTA POST
 The Jakarta Post, one of the leading Indonesian English new papers reported that, several ministries and the Attorney General’s Office held a meeting at the Finance Ministry’s office in Jakarta on Wednesday to prepare the government’s response to the US$1.8 billion lawsuit filed by British mining company Churchill Mining.
“Today the team talked about preparations for the legal suit. We are learning about our strengths and weaknesses, and we are cross checking all available data that we have,” Deputy Energy and Mineral Resources Minister Rudi Rubiandini told reporters late on Wednesday, the paper further said.
He said that the government had established a team comprising senior officials representing the Energy and Mineral Resources Ministry, the Forestry Ministry, the Attorney General’s Office, the Finance Ministry, and the East Kutai administration as well as the Investment Coordinating Board (BKPM) to prepare the government’s response to Churchill’s litigation.
The team will report its work to President Susilo Bambang Yudho-yono on Friday.
Aside from Rudi, Wednesday’s meeting was also attended by Forestry Minister Zulkifli Hasan, Attorney General Basrief Arief, Finance Minister Agus Martowardojo and East Kutai Regent Isran Noor.
The London-listed company requested international arbitration after the Indonesian Supreme Court rejected its request to overturn the revocation of its local partner’s mining permits in East Kutai regency, East Kalimantan.
Churchill entered the country’s coal mining business after it acquired a 75 percent stake in the Ridlatama Group in 2008. The East Kutai administration revoked its partner’s mining permits in 2010 for allegedly engaging in illegal logging and operating under forged permits.
The permits covered coal mining in about 35,000 hectares that was formerly controlled by six local firms affiliated with the PT Nusantara Group, which was reported to have lost their mining rights in 2006 and 2007 due to a lack of activity.
Churchill estimates that the mining concessions hold 2.70 billion tons of coal with potential annual revenues of between $700 million and $1 billion for more than 20 years of operations.
The British company is reported to have sought $1.8 billion in compensation for the revocation of its mining permits. In its arbitration request, the company said the Indonesian government had breached its obligations under the UK-Indonesia Bilateral Investment Treaty.
Speaking to reporters after the meeting, Isran said that the permits were revoked because the company breached mining and forestry regulations.
He claimed Ridlatama had forged mining permits to operate on mining areas owned by Nusantara Group — a company linked to Prabowo Subianto, the founder of the Great Indonesia Movement (Gerindra) party and a chief of the Kopassus special forces unit under president Soeharto.
Isran denied rumors that the East Kutai administration had returned the mining areas to Nusantara after Churchill and its partner discovered huge coal deposits in the area.
“The mining areas belong to Nusantara and are now still owned by the company,” he said, adding that Ridlatama operated in the mining areas using forged permits. “There is a strong indication that the licensing documents that Ridlatama used are fake,” he said. With such strong legal arguments, he felt Churchill had little chance to win the case.
Meanwhile, Zulkifli also confirmed that the Forestry Ministry had strong evidence indicating that Ridlatama had operated in a forestry reserve in East Kutai without proper permits. He said that any mining company should obtain approval from his ministry to be able to operate in productive forest areas. “Ridlatama conducted mining activities and found huge coal deposits, but it operated without a permit,” he added.
Source: The Jakarta Post
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Saturday, 21 July 12
THE FREIGHT RATES ARE EXPECTED TO BE FLAT TO SOFT NEXT WEEK - VISTAAR
COALspot.com - The freight market was soft this week as all the segments were down.
The BDI was down by 6.58 pct closing at 1,037 points and the ...
Saturday, 21 July 12
INDONESIAN COMPANIES ABM INVESTAMA AND AVRA ASIA WORK OUT LONG-TERM CONTRACT - THE JAKARTA GLOBE
The Jakarta Globe, one of the leading English news papaer in Indonesia reported that, ABM Investama, a company with diversified interests in coal mi ...
Friday, 20 July 12
INDONESIA-INDIA SUPRAS BEING FIXED AT $ 10K
Handy
After a stable last week, the Handysize market has experienced softening rates in the Atlantic. Ships are ballasting from India into the Atla ...
Friday, 20 July 12
HANDYSIZES PROVE RATHER ATTRACTIVE AMONG OTHER SHIPS, IN TERMS OF FUTURE RETURNS ON INVESTMENT - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The Handysize segment of the dry bulk market appears to offer the best incentive among other ship types, for a ship owners to invest in, says Interm ...
Wednesday, 18 July 12
TAIWAN POWER COMPANY TO IMPORT 0.588 MILLION TONS OF LOW ASH AND EXTRA LOW SULFUR SUB-BITUMINOUS COAL
COALspot.com - Taiwan Power Company intends to procure 588,000 MT tons of extra low sulfur sub-bituminous coal for Taipower thermal power plant thro ...
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- Thai Mozambique Logistica
- Binh Thuan Hamico - Vietnam
- Africa Commodities Group - South Africa
- Siam City Cement PLC, Thailand
- Kohat Cement Company Ltd. - Pakistan
- Carbofer General Trading SA - India
- Global Business Power Corporation, Philippines
- Eastern Energy - Thailand
- Kobexindo Tractors - Indoneisa
- Ambuja Cements Ltd - India
- Bharathi Cement Corporation - India
- Attock Cement Pakistan Limited
- Kepco SPC Power Corporation, Philippines
- Makarim & Taira - Indonesia
- LBH Netherlands Bv - Netherlands
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Altura Mining Limited, Indonesia
- Bhoruka Overseas - Indonesia
- Coal and Oil Company - UAE
- The University of Queensland
- Indogreen Group - Indonesia
- Parliament of New Zealand
- Antam Resourcindo - Indonesia
- Coastal Gujarat Power Limited - India
- SMC Global Power, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Maharashtra Electricity Regulatory Commission - India
- Neyveli Lignite Corporation Ltd, - India
- OPG Power Generation Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- CNBM International Corporation - China
- Posco Energy - South Korea
- Ceylon Electricity Board - Sri Lanka
- Sakthi Sugars Limited - India
- Chettinad Cement Corporation Ltd - India
- Kumho Petrochemical, South Korea
- Petrochimia International Co. Ltd.- Taiwan
- Pipit Mutiara Jaya. PT, Indonesia
- MS Steel International - UAE
- Vijayanagar Sugar Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Economic Council, Georgia
- Marubeni Corporation - India
- Simpson Spence & Young - Indonesia
- The Treasury - Australian Government
- Samtan Co., Ltd - South Korea
- Semirara Mining and Power Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- White Energy Company Limited
- PTC India Limited - India
- Romanian Commodities Exchange
- Energy Link Ltd, New Zealand
- The State Trading Corporation of India Ltd
- PNOC Exploration Corporation - Philippines
- Indian Oil Corporation Limited
- Kapuas Tunggal Persada - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Bhatia International Limited - India
- Medco Energi Mining Internasional
- Maheswari Brothers Coal Limited - India
- Port Waratah Coal Services - Australia
- Formosa Plastics Group - Taiwan
- Xindia Steels Limited - India
- Krishnapatnam Port Company Ltd. - India
- CIMB Investment Bank - Malaysia
- GVK Power & Infra Limited - India
- Sarangani Energy Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Gujarat Sidhee Cement - India
- Semirara Mining Corp, Philippines
- Minerals Council of Australia
- Central Java Power - Indonesia
- Electricity Generating Authority of Thailand
- Goldman Sachs - Singapore
- Trasteel International SA, Italy
- Bayan Resources Tbk. - Indonesia
- Singapore Mercantile Exchange
- Australian Coal Association
- Australian Commodity Traders Exchange
- Global Coal Blending Company Limited - Australia
- Kalimantan Lumbung Energi - Indonesia
- Commonwealth Bank - Australia
- London Commodity Brokers - England
- Electricity Authority, New Zealand
- Baramulti Group, Indonesia
- European Bulk Services B.V. - Netherlands
- Holcim Trading Pte Ltd - Singapore
- Georgia Ports Authority, United States
- Vizag Seaport Private Limited - India
- Pendopo Energi Batubara - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Parry Sugars Refinery, India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mercuria Energy - Indonesia
- Indian Energy Exchange, India
- San Jose City I Power Corp, Philippines
- Sindya Power Generating Company Private Ltd
- Mercator Lines Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- ICICI Bank Limited - India
- Meenaskhi Energy Private Limited - India
- Larsen & Toubro Limited - India
- Sree Jayajothi Cements Limited - India
- McConnell Dowell - Australia
- Wilmar Investment Holdings
- Bukit Makmur.PT - Indonesia
- Sojitz Corporation - Japan
- Karbindo Abesyapradhi - Indoneisa
- Vedanta Resources Plc - India
- Bahari Cakrawala Sebuku - Indonesia
- Manunggal Multi Energi - Indonesia
- Intertek Mineral Services - Indonesia
- Salva Resources Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Malabar Cements Ltd - India
- VISA Power Limited - India
- Orica Mining Services - Indonesia
- Deloitte Consulting - India
- Straits Asia Resources Limited - Singapore
- Price Waterhouse Coopers - Russia
- Siam City Cement - Thailand
- PowerSource Philippines DevCo
- AsiaOL BioFuels Corp., Philippines
- Latin American Coal - Colombia
- SMG Consultants - Indonesia
- Interocean Group of Companies - India
- Aboitiz Power Corporation - Philippines
- Independent Power Producers Association of India
- Bhushan Steel Limited - India
- Standard Chartered Bank - UAE
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Oldendorff Carriers - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Anglo American - United Kingdom
- Offshore Bulk Terminal Pte Ltd, Singapore
- Karaikal Port Pvt Ltd - India
- Indika Energy - Indonesia
- Petron Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Directorate Of Revenue Intelligence - India
- Toyota Tsusho Corporation, Japan
- Ind-Barath Power Infra Limited - India
- Star Paper Mills Limited - India
- Banpu Public Company Limited - Thailand
- Mjunction Services Limited - India
- Edison Trading Spa - Italy
- Wood Mackenzie - Singapore
- Orica Australia Pty. Ltd.
- GMR Energy Limited - India
- Miang Besar Coal Terminal - Indonesia
- Coalindo Energy - Indonesia
- Thiess Contractors Indonesia
- Indo Tambangraya Megah - Indonesia
- Kartika Selabumi Mining - Indonesia
- Bulk Trading Sa - Switzerland
- Riau Bara Harum - Indonesia
- Tamil Nadu electricity Board
- Cigading International Bulk Terminal - Indonesia
- Aditya Birla Group - India
- Planning Commission, India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Lanco Infratech Ltd - India
- Meralco Power Generation, Philippines
- Cement Manufacturers Association - India
- Global Green Power PLC Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Merrill Lynch Commodities Europe
- Sical Logistics Limited - India
- Jaiprakash Power Ventures ltd
- Jorong Barutama Greston.PT - Indonesia
- Agrawal Coal Company - India
- South Luzon Thermal Energy Corporation
- Videocon Industries ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Central Electricity Authority - India
- Directorate General of MIneral and Coal - Indonesia
- Eastern Coal Council - USA
- IHS Mccloskey Coal Group - USA
- New Zealand Coal & Carbon
- Kaltim Prima Coal - Indonesia
- Rio Tinto Coal - Australia
- Bangladesh Power Developement Board
- Ministry of Transport, Egypt
- Barasentosa Lestari - Indonesia
- Globalindo Alam Lestari - Indonesia
- Metalloyd Limited - United Kingdom
- GAC Shipping (India) Pvt Ltd
- ASAPP Information Group - India
- Leighton Contractors Pty Ltd - Australia
- Energy Development Corp, Philippines
- Essar Steel Hazira Ltd - India
- Chamber of Mines of South Africa
- Sinarmas Energy and Mining - Indonesia
- Dalmia Cement Bharat India
- Tata Chemicals Ltd - India
- Ministry of Mines - Canada
- Borneo Indobara - Indonesia
- Renaissance Capital - South Africa
- Power Finance Corporation Ltd., India
- PetroVietnam Power Coal Import and Supply Company
- IEA Clean Coal Centre - UK
- Uttam Galva Steels Limited - India
- Mintek Dendrill Indonesia
- Ministry of Finance - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Iligan Light & Power Inc, Philippines
- SN Aboitiz Power Inc, Philippines
- Savvy Resources Ltd - HongKong
- Grasim Industreis Ltd - India
- India Bulls Power Limited - India
- Heidelberg Cement - Germany
- Timah Investasi Mineral - Indoneisa
- Madhucon Powers Ltd - India
- Therma Luzon, Inc, Philippines
- Indonesian Coal Mining Association
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