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Friday, 06 December 13
INDONESIAN PARLIAMENT REJECTED A GOVERNMENT PROPOSAL TO EASE THE BAN ON EXPORTING UNPROCESSED ORE
 COALspot.com: Indonesian House of Representatives rejected a proposal from Energy and Mineral Resources Minister Jero Wacik on to ease the ban on exporting unprocessed ore by 12 January 2014.
The Energy and Mineral Resources Minister Jero Wacik has proposed to house, that mining companies showing a strong commitment to build domestic smelters should be exempted from the ban staring from 12 January 2014.
However, House Commission VII of Indonesian parliament overseeing energy and mineral resources rejected the proposal, saying that mining firms had been given plenty of time to build smelters, but had failed to show concrete action.
Indonesian mining companies are facing shutdown after the House of Representatives rejected a government proposal to ease the ban on exporting unprocessed ore, which is set to take full effect at the beginning of next year. If implemented as planned, the ban on exporting raw ore could cripple the country’s mining sector, as most firms, including giants Freeport Indonesia and Newmont Nusa Tenggara (NNT), do not process most of their ore in local smelters, as quoted by local English news paper, the Jakarta Post.
Indonesian Mining Business Association (Apemindo) executive director Ladjiman Damanik said that the House’s rejection of the proposal was a big blow for miners and massive layoffs would ensue, as miners unable to comply with the new law would have to cease operating, as quoted by paper.
The 2009 Mining Law requires mining companies in Indonesia to process ore in domestic smelting facilities starting in January 2014 or face ban on exporting raw ore.
If implemented fully as planned, shipping industry also will be affected significantly. Recently, Indonesia Ore exports contributed significantly to shipping industry to keep the shipping freight stable.
Observers have said that the raw ore export ban would seriously dent the country’s export earnings and widen the country’s trade deficit. Government revenue would also take a big hit, as taxes and royalties from mining companies would decline significantly, the Jakarta post further said in its today's edition.
According to JP, Freeport Indonesia, the local subsidiary of American mining giant Freeport McMoRan Copper and Gold, has warned that it could shut down its mining operations in Timika, Papua if the ban was implemented without exception. Currently, Freeport Indonesia, which employs about 24,000 workers, ships about 40 percent of its annual production of around 2.5 million tons of copper concentrates to its partly owned smelter PT Smelting in Gresik, East Java.
According to JP, the mining giant has agreed to process the larger part of its concentrate in two other local smelting plants, which are now under feasibility studies. The two smelters are scheduled to begin commercial operation in 2017.
Government has also considered to ban export of low calorific value coal under the said law. However it is not clear that, whether the low calorific value coal export ban also will be followed by unprocessed ore export ban by 12 January 2014 or not.
If the law fully implemented, despite of lost of huge income in form of taxes and royalties from mining sector, the world may see a significant corrections in Ore prices as well as ocean freights.
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Saturday, 07 December 13
A RARE TIME IN RECENT SHIPPING MARKET HISTORY: BOTH DRY BULK AND VLCC TANKER EARNINGS ARE ON THE RISE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Around this time of year, back in 2008, i.e. five years ago, the shipping markets were plagued with the aftermath of the global financial crisis tha ...
Friday, 06 December 13
THE MINISTRY OF ENERGY & MINERAL RESOURCES OF INDONESIA FIXED DEC'13 HBA AT US$ 80.31
COALspot.com - The Ministry of Energy & Mineral Resources of Indonesia has increased government declared coal bench mark price by US$ 2.18 / MT ...
Friday, 06 December 13
US PRODUCED APPROXIMATELY 82.8 MILLION SHORT TONS OF COAL IN NOVEMBER 2013
COALspot.com – United States the world’s second largest coal producer, produced approximately 19.00 million short tons (mmst) of coal in ...
Friday, 06 December 13
PANAMAXES HAVE BEEN THE ' WEAPON OF CHOICE' BY MOST DRY BULK SHIP OWNERS DURING 2013 - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Low ship prices, the direct consequence of subdued freight rates for the larger part of 2013 have been the main driving force behind this year's ag ...
Thursday, 05 December 13
PANAMAX : THE FIRM TENDENCY CONTINUES - FEARNRESEARCH
Handy
It has been an active week for the Supramax and Handysize segment. USG is almost boiling and charterers looking to cover their December stems ...
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- Aditya Birla Group - India
- Directorate Of Revenue Intelligence - India
- Thai Mozambique Logistica
- Chettinad Cement Corporation Ltd - India
- Straits Asia Resources Limited - Singapore
- Kapuas Tunggal Persada - Indonesia
- Savvy Resources Ltd - HongKong
- Indogreen Group - Indonesia
- Therma Luzon, Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Georgia Ports Authority, United States
- San Jose City I Power Corp, Philippines
- Meralco Power Generation, Philippines
- Wilmar Investment Holdings
- Karbindo Abesyapradhi - Indoneisa
- Parry Sugars Refinery, India
- Sinarmas Energy and Mining - Indonesia
- Alfred C Toepfer International GmbH - Germany
- SN Aboitiz Power Inc, Philippines
- Intertek Mineral Services - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kideco Jaya Agung - Indonesia
- Baramulti Group, Indonesia
- Indian Oil Corporation Limited
- Timah Investasi Mineral - Indoneisa
- LBH Netherlands Bv - Netherlands
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Gujarat Sidhee Cement - India
- White Energy Company Limited
- Economic Council, Georgia
- Australian Coal Association
- Deloitte Consulting - India
- Trasteel International SA, Italy
- New Zealand Coal & Carbon
- Billiton Holdings Pty Ltd - Australia
- Ceylon Electricity Board - Sri Lanka
- Central Electricity Authority - India
- Port Waratah Coal Services - Australia
- Coal and Oil Company - UAE
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sical Logistics Limited - India
- Bharathi Cement Corporation - India
- Petron Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Renaissance Capital - South Africa
- Jorong Barutama Greston.PT - Indonesia
- Sree Jayajothi Cements Limited - India
- Kartika Selabumi Mining - Indonesia
- Bhatia International Limited - India
- Manunggal Multi Energi - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Samtan Co., Ltd - South Korea
- Interocean Group of Companies - India
- Bayan Resources Tbk. - Indonesia
- GMR Energy Limited - India
- Energy Development Corp, Philippines
- Singapore Mercantile Exchange
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Edison Trading Spa - Italy
- Orica Australia Pty. Ltd.
- International Coal Ventures Pvt Ltd - India
- Sakthi Sugars Limited - India
- IEA Clean Coal Centre - UK
- Latin American Coal - Colombia
- Agrawal Coal Company - India
- Borneo Indobara - Indonesia
- European Bulk Services B.V. - Netherlands
- Heidelberg Cement - Germany
- Iligan Light & Power Inc, Philippines
- Ministry of Finance - Indonesia
- Marubeni Corporation - India
- Coastal Gujarat Power Limited - India
- Sojitz Corporation - Japan
- Metalloyd Limited - United Kingdom
- Mercator Lines Limited - India
- Parliament of New Zealand
- Meenaskhi Energy Private Limited - India
- Maheswari Brothers Coal Limited - India
- South Luzon Thermal Energy Corporation
- Rashtriya Ispat Nigam Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Ind-Barath Power Infra Limited - India
- Thiess Contractors Indonesia
- Ministry of Transport, Egypt
- Mjunction Services Limited - India
- Energy Link Ltd, New Zealand
- GVK Power & Infra Limited - India
- PTC India Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Kalimantan Lumbung Energi - Indonesia
- McConnell Dowell - Australia
- Siam City Cement - Thailand
- Neyveli Lignite Corporation Ltd, - India
- Mintek Dendrill Indonesia
- Salva Resources Pvt Ltd - India
- Riau Bara Harum - Indonesia
- CNBM International Corporation - China
- Independent Power Producers Association of India
- Banpu Public Company Limited - Thailand
- Bhoruka Overseas - Indonesia
- Bukit Makmur.PT - Indonesia
- Electricity Authority, New Zealand
- Altura Mining Limited, Indonesia
- Sarangani Energy Corporation, Philippines
- Kumho Petrochemical, South Korea
- Global Green Power PLC Corporation, Philippines
- Simpson Spence & Young - Indonesia
- CIMB Investment Bank - Malaysia
- Malabar Cements Ltd - India
- Central Java Power - Indonesia
- Aboitiz Power Corporation - Philippines
- Romanian Commodities Exchange
- Gujarat Electricity Regulatory Commission - India
- Barasentosa Lestari - Indonesia
- Jindal Steel & Power Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- London Commodity Brokers - England
- Chamber of Mines of South Africa
- Cement Manufacturers Association - India
- Essar Steel Hazira Ltd - India
- Mercuria Energy - Indonesia
- Ambuja Cements Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Star Paper Mills Limited - India
- Jaiprakash Power Ventures ltd
- Coalindo Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Planning Commission, India
- Indonesian Coal Mining Association
- Globalindo Alam Lestari - Indonesia
- Madhucon Powers Ltd - India
- Price Waterhouse Coopers - Russia
- Tata Chemicals Ltd - India
- Orica Mining Services - Indonesia
- Lanco Infratech Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Indian Energy Exchange, India
- Anglo American - United Kingdom
- Wood Mackenzie - Singapore
- Semirara Mining and Power Corporation, Philippines
- Global Business Power Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Africa Commodities Group - South Africa
- Xindia Steels Limited - India
- Kaltim Prima Coal - Indonesia
- Merrill Lynch Commodities Europe
- The State Trading Corporation of India Ltd
- Goldman Sachs - Singapore
- Formosa Plastics Group - Taiwan
- PowerSource Philippines DevCo
- The Treasury - Australian Government
- Cigading International Bulk Terminal - Indonesia
- Toyota Tsusho Corporation, Japan
- Miang Besar Coal Terminal - Indonesia
- ASAPP Information Group - India
- Krishnapatnam Port Company Ltd. - India
- Bukit Asam (Persero) Tbk - Indonesia
- Power Finance Corporation Ltd., India
- PNOC Exploration Corporation - Philippines
- Rio Tinto Coal - Australia
- Holcim Trading Pte Ltd - Singapore
- Siam City Cement PLC, Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Electricity Generating Authority of Thailand
- Vizag Seaport Private Limited - India
- Indika Energy - Indonesia
- Medco Energi Mining Internasional
- IHS Mccloskey Coal Group - USA
- SMC Global Power, Philippines
- India Bulls Power Limited - India
- Sindya Power Generating Company Private Ltd
- Binh Thuan Hamico - Vietnam
- Bhushan Steel Limited - India
- Bukit Baiduri Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Semirara Mining Corp, Philippines
- OPG Power Generation Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Bulk Trading Sa - Switzerland
- Dalmia Cement Bharat India
- Kohat Cement Company Ltd. - Pakistan
- Australian Commodity Traders Exchange
- Carbofer General Trading SA - India
- Antam Resourcindo - Indonesia
- Eastern Coal Council - USA
- Bangladesh Power Developement Board
- ICICI Bank Limited - India
- MS Steel International - UAE
- Attock Cement Pakistan Limited
- Kobexindo Tractors - Indoneisa
- Commonwealth Bank - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Tamil Nadu electricity Board
- VISA Power Limited - India
- Standard Chartered Bank - UAE
- Makarim & Taira - Indonesia
- The University of Queensland
- Maharashtra Electricity Regulatory Commission - India
- Global Coal Blending Company Limited - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Pendopo Energi Batubara - Indonesia
- Ministry of Mines - Canada
- Uttam Galva Steels Limited - India
- Posco Energy - South Korea
- Videocon Industries ltd - India
- Grasim Industreis Ltd - India
- Vedanta Resources Plc - India
- Oldendorff Carriers - Singapore
- SMG Consultants - Indonesia
- Eastern Energy - Thailand
- Minerals Council of Australia
- Larsen & Toubro Limited - India
- GN Power Mariveles Coal Plant, Philippines
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