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