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Friday, 14 September 12
GOVT OFFERS CONDITIONAL TAX HOLIDAY TO AILING COAL MINERS - JP
 The Jakarta Post, one of the leading English news paper in Indonesia reported that, acknowledging difficulties encountered by coal miners due to a prolonged drop in prices, Deputy Energy and Mineral Resources Minister Rudi Rubiandini promised on Thursday that the government would provide fiscal incentives to ease the mining companies’ financial problems.
The minister said that the continued fall in coal prices would severely hurt the country’s coal mining companies.
The paper further said, “the government is ready to help by giving tax holidays or with other fiscal measures. The coal mining association has come to us to talk about the issue and asked for help. But we decided that the government would only intervene if the price hit US$ 60,” he said.
As of late last month, Indonesia’s coal reference price (HBA) fell to $84.65 per ton, declining 3.4 percent from $87.56 in July and 25 percent from its high of $112.87 in March.
Meanwhile, analysts have forecast that the Indonesian coal mining sector would remain under pressure due to the economic slowdown still affecting the four biggest coal importers countries — China, Japan, South Korea and India — and flooding coal supplies from non-traditional seaborne exporters.
Separately, the Indonesian Coal Mining Association’s (APBI) Bob Kamandanu told The Jakarta Post on Thursday that he hailed the government’s idea to provide fiscal incentives but doubted it would keep the promise.
“That is a good idea [to issue a tax holiday]. That means the government cares. But we don’t know whether the idea will be realized or not,” he said.
“Nevertheless, I don’t believe that the price would drop down that far. I guess the price will stay around $90 per ton by the end of this year,” he said.
The Newcastle thermal coal price, the benchmark for seaborne coal prices in Asia, set the average coal price around $90 to $95 a ton in 2012.
As reported earlier, some of the country’s major coal producers have prepared themselves for the fallout.
PT Adaro Energy, the nation’s second-largest thermal coal producer, has revised its annual production target for 2012 to between 48 million and 50 million metric tons, down from 50 million to 53 million tons.
PT Berau Coal Energy, a subsidiary of London-listed Bumi Plc., said it would also lower its production forecast to 20 million and 22 million tons, down from 23 million tons.
Meanwhile, Reuters reported on Wednesday that prices for benchmark Japanese imports of coal for its steel and metal-making furnaces may drop by around 25 percent as the fuel nears the cheapest it has been for three years.
Japanese steel mills and Australian producers are likely to settle for $160–$170 a ton FOB Australia for the fourth quarter, a sharp drop from the previous quarter but still a premium of $10–$20 above spot prices, producers and traders said.
The Japanese-Australian quarterly price is still the most important benchmark against which other types and origins of metallurgical coal is sold and a key indicator of the market’s strength, despite the growing acceptance of recently introduced daily index prices.
Source: The Jakarta Post
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Thursday, 20 September 12
DRY BULK INCHES FORWARD AFTER WEEKS OF BELOW PAR PERFORMANCE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has started to revive from its ashed, as the past couple of days, traders have reported an increased activity from China, result ...
Wednesday, 19 September 12
CHURCHILL STRENGTHENS LITIGATION TEAM WITH APPOINTMENT OF NICHOLAS SMITH AS MANAGING DIRECTOR
COALspot.com - Churchill Mining PLC (AIM: CHL) has announced that, Mr Nicholas Smith has joined the board of the Company and has been appointed as t ...
Wednesday, 19 September 12
DRY BULK TERMINALS SINGAPORE
Press Release - Dry bulk terminals are used all around the world to handle large quantities of bulk materials, like minerals, grains, etc. In today& ...
Tuesday, 18 September 12
JORC CODE REVISION - EXPOSURE DRAFT RELEASED FOR COMMENT
COALspot.com - The Australasian Joint Ore Reserves Committee (JORC) has today released for public comment the exposure draft of the JORC Code (2012) ...
Monday, 17 September 12
YEAR TO DATE, BUMA PRODUCED 231.1 MILLION BCM OF OVERBURDEN
COALspot.com - PT. Delta Dunia Makmur Tbk has removed 31.5 million bcm (+6.0 percent YoY) overburden in August 2012 totaled 31.5 million bcm ( ...
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- Bharathi Cement Corporation - India
- Kideco Jaya Agung - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Thiess Contractors Indonesia
- Aboitiz Power Corporation - Philippines
- Marubeni Corporation - India
- Meenaskhi Energy Private Limited - India
- Lanco Infratech Ltd - India
- IEA Clean Coal Centre - UK
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- ICICI Bank Limited - India
- Timah Investasi Mineral - Indoneisa
- Bayan Resources Tbk. - Indonesia
- Sindya Power Generating Company Private Ltd
- PetroVietnam Power Coal Import and Supply Company
- Global Coal Blending Company Limited - Australia
- Samtan Co., Ltd - South Korea
- Salva Resources Pvt Ltd - India
- Parry Sugars Refinery, India
- Mercator Lines Limited - India
- Siam City Cement PLC, Thailand
- Iligan Light & Power Inc, Philippines
- Interocean Group of Companies - India
- Wilmar Investment Holdings
- Romanian Commodities Exchange
- PNOC Exploration Corporation - Philippines
- GN Power Mariveles Coal Plant, Philippines
- Barasentosa Lestari - Indonesia
- Chettinad Cement Corporation Ltd - India
- Indian Energy Exchange, India
- TNB Fuel Sdn Bhd - Malaysia
- International Coal Ventures Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Attock Cement Pakistan Limited
- Price Waterhouse Coopers - Russia
- CIMB Investment Bank - Malaysia
- Anglo American - United Kingdom
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Wood Mackenzie - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Australian Coal Association
- Mjunction Services Limited - India
- SN Aboitiz Power Inc, Philippines
- Bulk Trading Sa - Switzerland
- Energy Development Corp, Philippines
- Binh Thuan Hamico - Vietnam
- VISA Power Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Dalmia Cement Bharat India
- Coalindo Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- CNBM International Corporation - China
- Maharashtra Electricity Regulatory Commission - India
- Independent Power Producers Association of India
- Tata Chemicals Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Kapuas Tunggal Persada - Indonesia
- Indonesian Coal Mining Association
- Coastal Gujarat Power Limited - India
- Aditya Birla Group - India
- Altura Mining Limited, Indonesia
- Antam Resourcindo - Indonesia
- Baramulti Group, Indonesia
- Indogreen Group - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Grasim Industreis Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Australian Commodity Traders Exchange
- Pendopo Energi Batubara - Indonesia
- Renaissance Capital - South Africa
- Billiton Holdings Pty Ltd - Australia
- Indika Energy - Indonesia
- Makarim & Taira - Indonesia
- Meralco Power Generation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Xindia Steels Limited - India
- Orica Mining Services - Indonesia
- Port Waratah Coal Services - Australia
- Kartika Selabumi Mining - Indonesia
- Agrawal Coal Company - India
- Miang Besar Coal Terminal - Indonesia
- Malabar Cements Ltd - India
- The State Trading Corporation of India Ltd
- Sojitz Corporation - Japan
- OPG Power Generation Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Metalloyd Limited - United Kingdom
- Ambuja Cements Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Heidelberg Cement - Germany
- Sakthi Sugars Limited - India
- Siam City Cement - Thailand
- Goldman Sachs - Singapore
- Ceylon Electricity Board - Sri Lanka
- Edison Trading Spa - Italy
- Bukit Asam (Persero) Tbk - Indonesia
- San Jose City I Power Corp, Philippines
- Ind-Barath Power Infra Limited - India
- Power Finance Corporation Ltd., India
- Africa Commodities Group - South Africa
- Straits Asia Resources Limited - Singapore
- GVK Power & Infra Limited - India
- Electricity Authority, New Zealand
- Posco Energy - South Korea
- Bhushan Steel Limited - India
- Planning Commission, India
- GMR Energy Limited - India
- Petron Corporation, Philippines
- Videocon Industries ltd - India
- Borneo Indobara - Indonesia
- Star Paper Mills Limited - India
- Bhatia International Limited - India
- Formosa Plastics Group - Taiwan
- ASAPP Information Group - India
- Asmin Koalindo Tuhup - Indonesia
- Jindal Steel & Power Ltd - India
- Bangladesh Power Developement Board
- SMC Global Power, Philippines
- White Energy Company Limited
- Eastern Coal Council - USA
- Singapore Mercantile Exchange
- Kaltim Prima Coal - Indonesia
- Banpu Public Company Limited - Thailand
- India Bulls Power Limited - India
- Minerals Council of Australia
- Energy Link Ltd, New Zealand
- Vizag Seaport Private Limited - India
- Karaikal Port Pvt Ltd - India
- Economic Council, Georgia
- Bhoruka Overseas - Indonesia
- Semirara Mining Corp, Philippines
- Central Java Power - Indonesia
- Medco Energi Mining Internasional
- Savvy Resources Ltd - HongKong
- Mercuria Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Rashtriya Ispat Nigam Limited - India
- Oldendorff Carriers - Singapore
- New Zealand Coal & Carbon
- Offshore Bulk Terminal Pte Ltd, Singapore
- Globalindo Alam Lestari - Indonesia
- Ministry of Mines - Canada
- Coal and Oil Company - UAE
- Directorate Of Revenue Intelligence - India
- Intertek Mineral Services - Indonesia
- Bukit Baiduri Energy - Indonesia
- SMG Consultants - Indonesia
- Mintek Dendrill Indonesia
- London Commodity Brokers - England
- Toyota Tsusho Corporation, Japan
- Sical Logistics Limited - India
- Maheswari Brothers Coal Limited - India
- Standard Chartered Bank - UAE
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Cement Manufacturers Association - India
- Riau Bara Harum - Indonesia
- Ministry of Finance - Indonesia
- Kumho Petrochemical, South Korea
- Vedanta Resources Plc - India
- Holcim Trading Pte Ltd - Singapore
- Uttam Galva Steels Limited - India
- Trasteel International SA, Italy
- PowerSource Philippines DevCo
- Electricity Generating Authority of Thailand
- GAC Shipping (India) Pvt Ltd
- McConnell Dowell - Australia
- Bukit Makmur.PT - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- European Bulk Services B.V. - Netherlands
- Rio Tinto Coal - Australia
- Therma Luzon, Inc, Philippines
- Eastern Energy - Thailand
- Sree Jayajothi Cements Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Central Electricity Authority - India
- Chamber of Mines of South Africa
- IHS Mccloskey Coal Group - USA
- LBH Netherlands Bv - Netherlands
- The University of Queensland
- Merrill Lynch Commodities Europe
- MS Steel International - UAE
- Sarangani Energy Corporation, Philippines
- Tamil Nadu electricity Board
- Deloitte Consulting - India
- Sinarmas Energy and Mining - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Global Green Power PLC Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Jaiprakash Power Ventures ltd
- Global Business Power Corporation, Philippines
- Thai Mozambique Logistica
- TeaM Sual Corporation - Philippines
- The Treasury - Australian Government
- South Luzon Thermal Energy Corporation
- Madhucon Powers Ltd - India
- Latin American Coal - Colombia
- Parliament of New Zealand
- Commonwealth Bank - Australia
- Cigading International Bulk Terminal - Indonesia
- Orica Australia Pty. Ltd.
- Manunggal Multi Energi - Indonesia
- Essar Steel Hazira Ltd - India
- Ministry of Transport, Egypt
- Kepco SPC Power Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- PTC India Limited - India
- Gujarat Electricity Regulatory Commission - India
- Kobexindo Tractors - Indoneisa
- Semirara Mining and Power Corporation, Philippines
- Larsen & Toubro Limited - India
- Carbofer General Trading SA - India
- Indian Oil Corporation Limited
- Gujarat Sidhee Cement - India
- Georgia Ports Authority, United States
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