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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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- McConnell Dowell - Australia
- Deloitte Consulting - India
- Merrill Lynch Commodities Europe
- Power Finance Corporation Ltd., India
- Kapuas Tunggal Persada - Indonesia
- ICICI Bank Limited - India
- Wilmar Investment Holdings
- Videocon Industries ltd - India
- Thiess Contractors Indonesia
- Economic Council, Georgia
- Tamil Nadu electricity Board
- Wood Mackenzie - Singapore
- Iligan Light & Power Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- White Energy Company Limited
- Malabar Cements Ltd - India
- South Luzon Thermal Energy Corporation
- Kideco Jaya Agung - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Minerals Council of Australia
- Indo Tambangraya Megah - Indonesia
- Kaltim Prima Coal - Indonesia
- Mercator Lines Limited - India
- TeaM Sual Corporation - Philippines
- Holcim Trading Pte Ltd - Singapore
- Altura Mining Limited, Indonesia
- The University of Queensland
- Energy Link Ltd, New Zealand
- Meralco Power Generation, Philippines
- Energy Development Corp, Philippines
- Indian Energy Exchange, India
- Independent Power Producers Association of India
- Kumho Petrochemical, South Korea
- European Bulk Services B.V. - Netherlands
- Cement Manufacturers Association - India
- Chettinad Cement Corporation Ltd - India
- Binh Thuan Hamico - Vietnam
- Ministry of Mines - Canada
- Sical Logistics Limited - India
- Posco Energy - South Korea
- Heidelberg Cement - Germany
- CNBM International Corporation - China
- Mintek Dendrill Indonesia
- Maheswari Brothers Coal Limited - India
- GMR Energy Limited - India
- Aditya Birla Group - India
- Krishnapatnam Port Company Ltd. - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Orica Mining Services - Indonesia
- IEA Clean Coal Centre - UK
- Commonwealth Bank - Australia
- Central Java Power - Indonesia
- Savvy Resources Ltd - HongKong
- Australian Commodity Traders Exchange
- San Jose City I Power Corp, Philippines
- Parliament of New Zealand
- Borneo Indobara - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Anglo American - United Kingdom
- Tata Chemicals Ltd - India
- Metalloyd Limited - United Kingdom
- Kohat Cement Company Ltd. - Pakistan
- MS Steel International - UAE
- Planning Commission, India
- Indonesian Coal Mining Association
- Carbofer General Trading SA - India
- Jindal Steel & Power Ltd - India
- Eastern Coal Council - USA
- Grasim Industreis Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Price Waterhouse Coopers - Russia
- Coastal Gujarat Power Limited - India
- Siam City Cement - Thailand
- Sojitz Corporation - Japan
- Makarim & Taira - Indonesia
- Oldendorff Carriers - Singapore
- Semirara Mining Corp, Philippines
- Meenaskhi Energy Private Limited - India
- Central Electricity Authority - India
- Port Waratah Coal Services - Australia
- Ministry of Finance - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- LBH Netherlands Bv - Netherlands
- Indika Energy - Indonesia
- VISA Power Limited - India
- Global Business Power Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Kartika Selabumi Mining - Indonesia
- Edison Trading Spa - Italy
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Sidhee Cement - India
- Karbindo Abesyapradhi - Indoneisa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Dalmia Cement Bharat India
- Electricity Generating Authority of Thailand
- Orica Australia Pty. Ltd.
- Toyota Tsusho Corporation, Japan
- Ministry of Transport, Egypt
- Banpu Public Company Limited - Thailand
- Bulk Trading Sa - Switzerland
- Samtan Co., Ltd - South Korea
- Vijayanagar Sugar Pvt Ltd - India
- PTC India Limited - India
- IHS Mccloskey Coal Group - USA
- Global Coal Blending Company Limited - Australia
- Coal and Oil Company - UAE
- Bhoruka Overseas - Indonesia
- OPG Power Generation Pvt Ltd - India
- Agrawal Coal Company - India
- Manunggal Multi Energi - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Baramulti Group, Indonesia
- Miang Besar Coal Terminal - Indonesia
- Medco Energi Mining Internasional
- Antam Resourcindo - Indonesia
- SMG Consultants - Indonesia
- Salva Resources Pvt Ltd - India
- Romanian Commodities Exchange
- Bharathi Cement Corporation - India
- Xindia Steels Limited - India
- Bayan Resources Tbk. - Indonesia
- SN Aboitiz Power Inc, Philippines
- Directorate Of Revenue Intelligence - India
- AsiaOL BioFuels Corp., Philippines
- Vedanta Resources Plc - India
- Indian Oil Corporation Limited
- Goldman Sachs - Singapore
- Siam City Cement PLC, Thailand
- International Coal Ventures Pvt Ltd - India
- London Commodity Brokers - England
- Timah Investasi Mineral - Indoneisa
- ASAPP Information Group - India
- Renaissance Capital - South Africa
- Bahari Cakrawala Sebuku - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Ind-Barath Power Infra Limited - India
- Uttam Galva Steels Limited - India
- Eastern Energy - Thailand
- Pendopo Energi Batubara - Indonesia
- Larsen & Toubro Limited - India
- Cigading International Bulk Terminal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Chamber of Mines of South Africa
- Bukit Baiduri Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- The Treasury - Australian Government
- Kobexindo Tractors - Indoneisa
- SMC Global Power, Philippines
- Petron Corporation, Philippines
- Indogreen Group - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Parry Sugars Refinery, India
- Petrochimia International Co. Ltd.- Taiwan
- Sakthi Sugars Limited - India
- Therma Luzon, Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Gujarat Electricity Regulatory Commission - India
- India Bulls Power Limited - India
- Intertek Mineral Services - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Directorate General of MIneral and Coal - Indonesia
- Rio Tinto Coal - Australia
- Kalimantan Lumbung Energi - Indonesia
- Formosa Plastics Group - Taiwan
- Simpson Spence & Young - Indonesia
- Latin American Coal - Colombia
- Bank of Tokyo Mitsubishi UFJ Ltd
- GAC Shipping (India) Pvt Ltd
- GVK Power & Infra Limited - India
- CIMB Investment Bank - Malaysia
- Mjunction Services Limited - India
- Singapore Mercantile Exchange
- Africa Commodities Group - South Africa
- Vizag Seaport Private Limited - India
- Straits Asia Resources Limited - Singapore
- PNOC Exploration Corporation - Philippines
- Bangladesh Power Developement Board
- Essar Steel Hazira Ltd - India
- Bhatia International Limited - India
- Sarangani Energy Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Attock Cement Pakistan Limited
- Mercuria Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- The State Trading Corporation of India Ltd
- Neyveli Lignite Corporation Ltd, - India
- Electricity Authority, New Zealand
- Georgia Ports Authority, United States
- Madhucon Powers Ltd - India
- Trasteel International SA, Italy
- Kepco SPC Power Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Jaiprakash Power Ventures ltd
- Billiton Holdings Pty Ltd - Australia
- PowerSource Philippines DevCo
- Maharashtra Electricity Regulatory Commission - India
- Marubeni Corporation - India
- Karaikal Port Pvt Ltd - India
- New Zealand Coal & Carbon
- Globalindo Alam Lestari - Indonesia
- Bhushan Steel Limited - India
- Riau Bara Harum - Indonesia
- Interocean Group of Companies - India
- Sindya Power Generating Company Private Ltd
- Leighton Contractors Pty Ltd - Australia
- Aboitiz Power Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Star Paper Mills Limited - India
- Thai Mozambique Logistica
- Lanco Infratech Ltd - India
- Coalindo Energy - Indonesia
- Standard Chartered Bank - UAE
- Australian Coal Association
- Bukit Makmur.PT - Indonesia
- Ambuja Cements Ltd - India
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