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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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Friday, 22 June 12
COAL: THE BACKBONE OF MODERN ELECTRICITY - ECOAL
Coal has been described as the "forgotten fuel," perhaps because many aren't aware of the huge role it plays in powering the global econo ...
Thursday, 21 June 12
DRY BULK MARKET ON THE RISE AGAIN - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market was on the rise once again yesterday, with the Baltic Dry Index (BDI), the industry’s benchmark, rising by 18 points, or 1 ...
Wednesday, 20 June 12
BDI MOVING HIGHER, PANAMAX AND SUPRAMAX VESSELS STRONGER, CAPESIZE RATES NEAR TO HISTORICAL LOWS OF DECEMBER 2008 - MARIA BERTZELETOU, HELLENIC SHIPPING
The dry market seems to follow the dynamic of the previous week with the Baltic Dry Index showing daily increases since June 8th, but is still stand ...
Tuesday, 19 June 12
SMALLER DRY BULK CARRIERS LIFT UP MARKET, PANAMAXES SET TO FALL SAYS ANALYST - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Another rise for the dry bulk market was evident yesterday, as the industry’s benchmark, the BDI (Baltic Dry Index) was up for a ninth straigh ...
Sunday, 17 June 12
S7 & S8 ROUTES ARE LIKELY TO BE SOFT NEXT WEEK - VISTAAR
COALspot.com - The BDI gained some increase after continues fall for several weeks.
The BDI increased by 47 points (up by 5.36 pct) closing at 92 ...
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- San Jose City I Power Corp, Philippines
- Aboitiz Power Corporation - Philippines
- Vedanta Resources Plc - India
- The State Trading Corporation of India Ltd
- Electricity Generating Authority of Thailand
- Malabar Cements Ltd - India
- Mjunction Services Limited - India
- Formosa Plastics Group - Taiwan
- Merrill Lynch Commodities Europe
- Ceylon Electricity Board - Sri Lanka
- Thiess Contractors Indonesia
- The Treasury - Australian Government
- Gujarat Electricity Regulatory Commission - India
- Dalmia Cement Bharat India
- Electricity Authority, New Zealand
- Banpu Public Company Limited - Thailand
- European Bulk Services B.V. - Netherlands
- Miang Besar Coal Terminal - Indonesia
- Antam Resourcindo - Indonesia
- Thai Mozambique Logistica
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Orica Mining Services - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Kobexindo Tractors - Indoneisa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bhoruka Overseas - Indonesia
- LBH Netherlands Bv - Netherlands
- Videocon Industries ltd - India
- Lanco Infratech Ltd - India
- Indian Energy Exchange, India
- Timah Investasi Mineral - Indoneisa
- Agrawal Coal Company - India
- Indika Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Independent Power Producers Association of India
- Port Waratah Coal Services - Australia
- London Commodity Brokers - England
- Planning Commission, India
- Rashtriya Ispat Nigam Limited - India
- Mercator Lines Limited - India
- Intertek Mineral Services - Indonesia
- Sree Jayajothi Cements Limited - India
- Vizag Seaport Private Limited - India
- Coalindo Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- PNOC Exploration Corporation - Philippines
- The University of Queensland
- Tamil Nadu electricity Board
- Aditya Birla Group - India
- Jindal Steel & Power Ltd - India
- Bharathi Cement Corporation - India
- Romanian Commodities Exchange
- Madhucon Powers Ltd - India
- Global Business Power Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Edison Trading Spa - Italy
- AsiaOL BioFuels Corp., Philippines
- Posco Energy - South Korea
- Parliament of New Zealand
- Sakthi Sugars Limited - India
- Chettinad Cement Corporation Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- SMC Global Power, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Indogreen Group - Indonesia
- GMR Energy Limited - India
- Essar Steel Hazira Ltd - India
- SN Aboitiz Power Inc, Philippines
- Latin American Coal - Colombia
- Pendopo Energi Batubara - Indonesia
- IHS Mccloskey Coal Group - USA
- Larsen & Toubro Limited - India
- CIMB Investment Bank - Malaysia
- Globalindo Alam Lestari - Indonesia
- Parry Sugars Refinery, India
- Georgia Ports Authority, United States
- Maheswari Brothers Coal Limited - India
- Straits Asia Resources Limited - Singapore
- Ind-Barath Power Infra Limited - India
- Indian Oil Corporation Limited
- Africa Commodities Group - South Africa
- Bulk Trading Sa - Switzerland
- Wood Mackenzie - Singapore
- Savvy Resources Ltd - HongKong
- Jaiprakash Power Ventures ltd
- Simpson Spence & Young - Indonesia
- Bangladesh Power Developement Board
- Medco Energi Mining Internasional
- Makarim & Taira - Indonesia
- Minerals Council of Australia
- Energy Development Corp, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Samtan Co., Ltd - South Korea
- OPG Power Generation Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Baramulti Group, Indonesia
- Kumho Petrochemical, South Korea
- Gujarat Sidhee Cement - India
- Sojitz Corporation - Japan
- Bukit Asam (Persero) Tbk - Indonesia
- Kideco Jaya Agung - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Altura Mining Limited, Indonesia
- Tata Chemicals Ltd - India
- Standard Chartered Bank - UAE
- Indonesian Coal Mining Association
- Renaissance Capital - South Africa
- Petrochimia International Co. Ltd.- Taiwan
- Directorate Of Revenue Intelligence - India
- ICICI Bank Limited - India
- Meralco Power Generation, Philippines
- Toyota Tsusho Corporation, Japan
- Meenaskhi Energy Private Limited - India
- Salva Resources Pvt Ltd - India
- Interocean Group of Companies - India
- Billiton Holdings Pty Ltd - Australia
- Ministry of Finance - Indonesia
- Commonwealth Bank - Australia
- PetroVietnam Power Coal Import and Supply Company
- Pipit Mutiara Jaya. PT, Indonesia
- Kaltim Prima Coal - Indonesia
- Bukit Makmur.PT - Indonesia
- Sindya Power Generating Company Private Ltd
- Barasentosa Lestari - Indonesia
- Bhatia International Limited - India
- Bayan Resources Tbk. - Indonesia
- Singapore Mercantile Exchange
- Bahari Cakrawala Sebuku - Indonesia
- MS Steel International - UAE
- Petron Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Manunggal Multi Energi - Indonesia
- CNBM International Corporation - China
- Global Coal Blending Company Limited - Australia
- Sarangani Energy Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Carbofer General Trading SA - India
- Gujarat Mineral Development Corp Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Ministry of Transport, Egypt
- Central Java Power - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Maharashtra Electricity Regulatory Commission - India
- Marubeni Corporation - India
- Ministry of Mines - Canada
- Therma Luzon, Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Siam City Cement - Thailand
- Sical Logistics Limited - India
- Goldman Sachs - Singapore
- TeaM Sual Corporation - Philippines
- Leighton Contractors Pty Ltd - Australia
- Mercuria Energy - Indonesia
- Siam City Cement PLC, Thailand
- Global Green Power PLC Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- VISA Power Limited - India
- Binh Thuan Hamico - Vietnam
- Ambuja Cements Ltd - India
- Bukit Baiduri Energy - Indonesia
- Oldendorff Carriers - Singapore
- Energy Link Ltd, New Zealand
- Cement Manufacturers Association - India
- Kohat Cement Company Ltd. - Pakistan
- Attock Cement Pakistan Limited
- Power Finance Corporation Ltd., India
- Rio Tinto Coal - Australia
- PTC India Limited - India
- McConnell Dowell - Australia
- Deloitte Consulting - India
- Chamber of Mines of South Africa
- PowerSource Philippines DevCo
- Cigading International Bulk Terminal - Indonesia
- India Bulls Power Limited - India
- Riau Bara Harum - Indonesia
- ASAPP Information Group - India
- Iligan Light & Power Inc, Philippines
- Eastern Energy - Thailand
- GN Power Mariveles Coal Plant, Philippines
- White Energy Company Limited
- Metalloyd Limited - United Kingdom
- Coal and Oil Company - UAE
- Semirara Mining Corp, Philippines
- Alfred C Toepfer International GmbH - Germany
- Heidelberg Cement - Germany
- Vijayanagar Sugar Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Xindia Steels Limited - India
- Sinarmas Energy and Mining - Indonesia
- Kepco SPC Power Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Borneo Indobara - Indonesia
- Australian Coal Association
- SMG Consultants - Indonesia
- IEA Clean Coal Centre - UK
- Wilmar Investment Holdings
- Star Paper Mills Limited - India
- New Zealand Coal & Carbon
- Grasim Industreis Ltd - India
- Anglo American - United Kingdom
- Economic Council, Georgia
- Orica Australia Pty. Ltd.
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indo Tambangraya Megah - Indonesia
- Uttam Galva Steels Limited - India
- Trasteel International SA, Italy
- Eastern Coal Council - USA
- Australian Commodity Traders Exchange
- GVK Power & Infra Limited - India
- Mintek Dendrill Indonesia
- Central Electricity Authority - India
- International Coal Ventures Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Bhushan Steel Limited - India
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