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Monday, 19 November 12
GOVT PREPARES TO FACE ANOTHER SUIT ON MINING LAW - THE JAKARTA POST
 The government is gearing up to face a complaint on the 2009 Mining Law prepared by the same organization that previously brought down upstream oil and gas regulator BPMigas through a surprising verdict from the Constitutional Court, a minister has said.
Energy and Mineral Resources Minister Jero Wacik said on Sunday he would gather all of the lawmakers and officials involved in the formulation of the Mining Law as part of preparations for the planned judicial review.
“It is my job as a minister to implement all the steps stipulated in the existing laws. If a law is annulled, then those involved in its drafting must also be responsible,” he told The Jakarta Post in a
telephone interview.
Jero was commenting on a recent statement by Muhammadiyah’s chairman, Din Syamsuddin, who said the organization would continue to file complaints on several natural resource laws in a bid to open access for Indonesians to benefit from the country’s rich resources.
Din told reporters at Muhammadiyah’s headquarters in Jakarta last Thursday that the nation’s second-largest Muslim organization saw several regulations, including those issued under the Mining Law, as unconstitutional because “they have impoverished the majority of Indonesians and enriched foreign agencies”.
“We are not anti-foreigners, but we believe that the government must put its people first before any business ties with foreign companies,” he added.
Din cited this idea as the reason Muhammadiyah had teamed up with 41 other organizations to file a review of the 2001 Oil and Gas Law last year, several parts of which were struck down by the Constitutional Court last week, resulting in the dissolution of BPMigas.
According to Din, a team of experts had conducted a thorough review of the law from 2009 to 2010 before finally concluding that it contradicted the 1945 Constitution.
Several high-profile figures also joined the club to petition for the review, including Hasyim Muzadi, the former chairman of Indonesia’s largest Muslim organization, Nahdlatul Ulama (NU), and senior Golkar Party politician and former industry minister, Fahmi Idris.
Kwik Kian Gie and Rizal Ramli — former ministers under administrations of the late Abdurrahman Wahid and Megawati Soekarnoputri — as well as Kurtubi, an energy expert at state energy firm PT Pertamina, were asked by the plaintiffs to become expert witnesses in the case.
In September, a Supreme Court verdict ordered the government to withdraw four chapters of the Energy and Mineral Resources Ministerial Decree No. 7 on mineral processing, including one chapter on export taxes for mineral ore, after reviewing a complaint from Indonesia’s nickel businesses association.
The export tax was meant to prevent the exploitation of mineral ore ahead of the government’s plan to fully prohibit exports of unprocessed metals in 2014, as stipulated in the Mining Law, which will be subject to review by the Constitutional Court.
Jero had earlier said that the government was currently drafting a new regulation in light of the verdict.
Separately, noted lawyer Todung Mulya Lubis said the court’s verdict to disband BPMigas pointed to the legal uncertainties faced by foreign investors in expanding their businesses in Southeast Asia’s largest economy.
With the Constitutional Court currently reviewing the 2009 Mining Law, Todung noted more businesses would be wary of the risks of investing in Indonesia.
Source: The Jakarta Post (by: Amahl S. Azwar and Margareth S. Aritonang)
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Thursday, 16 October 14
PANAMAX OWNERS RECEIVE A PREMIUM FOR GOING TO INDIA VIA INDONESIA - FEARNLEYS AS
Handy
The Handy/Supra market continues to slide in both hemispheres, said Fearnleys AS in its latest week report. In the Atlantic we see rates co ...
Thursday, 16 October 14
ARE WE GOING TO SHOOT OURSELVES IN THE FOOT ONCE AGAIN? - PANOS MAKRINOS
As the East part of our globe was coming back from its October holidays last week, everyone expected that the Dry Bulk market would follow suit and ...
Wednesday, 15 October 14
PANAMAX: ACTIVITY IN THE PACIFIC WAS UNIMPRESSIVE
The Dry Bulk market noted another weekly decline last week, while the BDI moved below 1,000 points taking down with it expectations that a post hol ...
Wednesday, 15 October 14
INDONESIAN COAL PRICE REFERENCE FELL TO FRESH MULTI-YEAR LOWS IN OCTOBER
COALspot.com - The Ministry of Energy & Mineral Resources of Indonesia revised down the coal bench mark price once again in October 2014.
...
Wednesday, 15 October 14
DRY BULK SHIPPING: RATE IMPROVEMENTS ARRIVED AS FORECAST, BUT UNCERTAINTY MOUNTS FOR 2015 DEMAND - BIMCO
BIMCO released its latest short term assessment of the dry bulk market, estimating that over the October-November period, the level of Capesize TC ...
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- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kumho Petrochemical, South Korea
- Essar Steel Hazira Ltd - India
- Coastal Gujarat Power Limited - India
- Commonwealth Bank - Australia
- Ambuja Cements Ltd - India
- IEA Clean Coal Centre - UK
- Electricity Authority, New Zealand
- Kobexindo Tractors - Indoneisa
- Banpu Public Company Limited - Thailand
- Mintek Dendrill Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Jindal Steel & Power Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sinarmas Energy and Mining - Indonesia
- Indian Oil Corporation Limited
- Miang Besar Coal Terminal - Indonesia
- Central Electricity Authority - India
- OPG Power Generation Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Riau Bara Harum - Indonesia
- CIMB Investment Bank - Malaysia
- Therma Luzon, Inc, Philippines
- Iligan Light & Power Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Manunggal Multi Energi - Indonesia
- San Jose City I Power Corp, Philippines
- Bukit Makmur.PT - Indonesia
- Singapore Mercantile Exchange
- Semirara Mining Corp, Philippines
- Mercator Lines Limited - India
- Malabar Cements Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Simpson Spence & Young - Indonesia
- MS Steel International - UAE
- ASAPP Information Group - India
- Meralco Power Generation, Philippines
- New Zealand Coal & Carbon
- Neyveli Lignite Corporation Ltd, - India
- Renaissance Capital - South Africa
- AsiaOL BioFuels Corp., Philippines
- International Coal Ventures Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Australian Coal Association
- Antam Resourcindo - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Meenaskhi Energy Private Limited - India
- Altura Mining Limited, Indonesia
- Mjunction Services Limited - India
- Directorate Of Revenue Intelligence - India
- The University of Queensland
- Bayan Resources Tbk. - Indonesia
- Africa Commodities Group - South Africa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- The Treasury - Australian Government
- Dalmia Cement Bharat India
- Indo Tambangraya Megah - Indonesia
- Orica Australia Pty. Ltd.
- IHS Mccloskey Coal Group - USA
- Sindya Power Generating Company Private Ltd
- Global Coal Blending Company Limited - Australia
- Thai Mozambique Logistica
- Posco Energy - South Korea
- Bulk Trading Sa - Switzerland
- Pendopo Energi Batubara - Indonesia
- Samtan Co., Ltd - South Korea
- VISA Power Limited - India
- Planning Commission, India
- TeaM Sual Corporation - Philippines
- PTC India Limited - India
- Bhoruka Overseas - Indonesia
- Xindia Steels Limited - India
- Salva Resources Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Ministry of Mines - Canada
- Karbindo Abesyapradhi - Indoneisa
- Sical Logistics Limited - India
- Port Waratah Coal Services - Australia
- Independent Power Producers Association of India
- Indian Energy Exchange, India
- Kaltim Prima Coal - Indonesia
- Carbofer General Trading SA - India
- Ministry of Finance - Indonesia
- Bhatia International Limited - India
- Uttam Galva Steels Limited - India
- Larsen & Toubro Limited - India
- Bukit Baiduri Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Australian Commodity Traders Exchange
- Marubeni Corporation - India
- Maharashtra Electricity Regulatory Commission - India
- TNB Fuel Sdn Bhd - Malaysia
- Lanco Infratech Ltd - India
- Tamil Nadu electricity Board
- Kideco Jaya Agung - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Anglo American - United Kingdom
- Siam City Cement PLC, Thailand
- Trasteel International SA, Italy
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Borneo Indobara - Indonesia
- Global Green Power PLC Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sakthi Sugars Limited - India
- Edison Trading Spa - Italy
- Binh Thuan Hamico - Vietnam
- Savvy Resources Ltd - HongKong
- Ministry of Transport, Egypt
- Merrill Lynch Commodities Europe
- Straits Asia Resources Limited - Singapore
- Standard Chartered Bank - UAE
- Gujarat Sidhee Cement - India
- Globalindo Alam Lestari - Indonesia
- Karaikal Port Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Baramulti Group, Indonesia
- Bharathi Cement Corporation - India
- Energy Link Ltd, New Zealand
- Minerals Council of Australia
- Timah Investasi Mineral - Indoneisa
- Kohat Cement Company Ltd. - Pakistan
- Electricity Generating Authority of Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Rashtriya Ispat Nigam Limited - India
- PowerSource Philippines DevCo
- Indonesian Coal Mining Association
- Agrawal Coal Company - India
- Cigading International Bulk Terminal - Indonesia
- Bhushan Steel Limited - India
- Energy Development Corp, Philippines
- Tata Chemicals Ltd - India
- Sree Jayajothi Cements Limited - India
- Semirara Mining and Power Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Aditya Birla Group - India
- Parry Sugars Refinery, India
- Holcim Trading Pte Ltd - Singapore
- GVK Power & Infra Limited - India
- ICICI Bank Limited - India
- Videocon Industries ltd - India
- Intertek Mineral Services - Indonesia
- Attock Cement Pakistan Limited
- Grasim Industreis Ltd - India
- GMR Energy Limited - India
- CNBM International Corporation - China
- Vizag Seaport Private Limited - India
- Economic Council, Georgia
- Medco Energi Mining Internasional
- SMC Global Power, Philippines
- Parliament of New Zealand
- Jorong Barutama Greston.PT - Indonesia
- Price Waterhouse Coopers - Russia
- Interocean Group of Companies - India
- Wood Mackenzie - Singapore
- Central Java Power - Indonesia
- PNOC Exploration Corporation - Philippines
- Oldendorff Carriers - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Coalindo Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- GAC Shipping (India) Pvt Ltd
- Kapuas Tunggal Persada - Indonesia
- Cement Manufacturers Association - India
- Chamber of Mines of South Africa
- Directorate General of MIneral and Coal - Indonesia
- The State Trading Corporation of India Ltd
- Thiess Contractors Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- White Energy Company Limited
- Petron Corporation, Philippines
- Wilmar Investment Holdings
- Indogreen Group - Indonesia
- Bangladesh Power Developement Board
- Makarim & Taira - Indonesia
- Global Business Power Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Power Finance Corporation Ltd., India
- Goldman Sachs - Singapore
- Eastern Energy - Thailand
- India Bulls Power Limited - India
- Mercuria Energy - Indonesia
- Eastern Coal Council - USA
- Heidelberg Cement - Germany
- Alfred C Toepfer International GmbH - Germany
- Rio Tinto Coal - Australia
- European Bulk Services B.V. - Netherlands
- Sojitz Corporation - Japan
- Siam City Cement - Thailand
- Romanian Commodities Exchange
- Orica Mining Services - Indonesia
- Metalloyd Limited - United Kingdom
- SMG Consultants - Indonesia
- Indika Energy - Indonesia
- Georgia Ports Authority, United States
- Ceylon Electricity Board - Sri Lanka
- Gujarat Mineral Development Corp Ltd - India
- Maheswari Brothers Coal Limited - India
- Toyota Tsusho Corporation, Japan
- Madhucon Powers Ltd - India
- Kepco SPC Power Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Coal and Oil Company - UAE
- Latin American Coal - Colombia
- Vedanta Resources Plc - India
- Deloitte Consulting - India
- London Commodity Brokers - England
- SN Aboitiz Power Inc, Philippines
- Jaiprakash Power Ventures ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- McConnell Dowell - Australia
- Star Paper Mills Limited - India
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