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Sunday, 28 September 14
BERAU AGREES DEAL WITH GOVT, MINING AREA REDUCED - THE JAKARTA POST
 Coal miner PT Berau Coal, a subsidiary of Jakarta-listed PT Berau Coal Energy (BRAU), has signed a memorandum of understanding (MoU) with the government regarding detailed talks on the company’s coal-mining contract of work (CCoW) on Friday morning, as part of a series of contract renegotiations between the ministry and miners to comply with the 2009 Mining Law, as reported by The Jakarta post yesterday.
The Energy and Mineral Resources Ministry’s director for coal, Bambang Tjahjono, said his office and Berau Coal signed the MoU on Friday morning and under the MoU, Berau Coal has agreed on principal to adjustments to a number of aspects of its CCoW, including the size of its mining area and a royalty payment to the government of 13.5 percent, the paper further said.
“We will now move forward to draft the contract amendment, in which we will adjust several issues until the company’s contract of work expires, after the expiry date, all matters will be based on the prevailing law.” Bambang said, as quoted by paper.
Berau Coal has also in principal agreed to reduce its mining area by 10,391 hectares, the reduction means the company will only manage 108,009 ha until its CCoW expires in 2025, from its previous 118,400 ha., according to Bambang.
Under the Mining Law, coal-mining concessions are limited to 15,000 ha. “After the contract expires, all will be according to the law; even more sites will be released,” Bambang said, according to paper.
According to paper, Neither Berau Coal president director Amir Sambodo nor general manager for corporate communication Singgih Widagdo replied to text and phone calls from The Jakarta Post seeking confirmation.
The government has been struggling to renegotiate numerous coal and mineral contracts of work (CoWs) to comply with the law, the renegotiations are focused on six issues, adjustments in income to the state; adjustments to the size of mining areas; obligations of divestment; obligations for domestic processing; continuity of operations; and obligations to use local goods and services, the paper said.
Seventy-three CCoWs and 34 mineral non-coal CoWs need to be renegotiated. Berau Coal’s MoU signing follows previous deals between the government and other big coal players, including PT Kaltim Prima Coal (KPC), PT Arutmin Indonesia and PT Adaro Indonesia.
Under its MoU with the government, KPC agrees to reduce its mining size to 84,938 ha from its current 90,938 ha. Arutmin’s mining area will be cut to 55,573 ha from 58,898 ha. Meanwhile, Adaro has agreed to release around 6,000 ha of its 34,940 ha.
The paper further said, the signing of the MoUs also means that the companies have in principal agreed to see their CoWs, which vary from one company to another, changed into coal-mining permits, which apply in general according to the law, in return for extensions to their operations.
“However, a decision on extension — if any — will be determined by the new government, and it will consider the company’s performance in good mining practices and the fulfillment of its obligations to the government,” Sukhyar said.
Companies are allowed to apply for operating extensions two years prior to their expiry date. The extension is limited to two extensions of 10 years.
Arutmin’s CCoW will expire in 2019 and that of its sister company KPC in 2021, while Adaro’s CCoW will last until 2022.
Source: The Jakarta Post
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Wednesday, 26 November 14
OVERSUPPLY OF TONNAGE PUSHED PANAMAX SEGMENT DOWN FOR ANOTHER WEEK
COALspot.com: The Dry Bulk market managed to reverse its course from the week prior and with the sole exception of the Panamax segment, we witnesse ...
Wednesday, 26 November 14
SHIPPING MARKET INSIGHT - EVA TZIMA
The tanker market has been enjoying some good returns lately. Ok, that may be a big understatement, but with all the ups and downs of the past year ...
Tuesday, 25 November 14
FISCAL BREAKEVEN OIL PRICES SHOW SOVEREIGN VULNERABILITY - FITCH
COALspot.com: The vulnerability of the sovereign credit profiles of net oil exporters, as shown by their fiscal breakeven oil prices, suggests that ...
Tuesday, 25 November 14
UK: TRIBUNAL RULES ON SPEED AND PERFORMANCE CLAIMS UNDER TWO CONSECUTIVE TIME CHARTERPARTIES - REED SMITH
KNOWLEDGE TO ELEVATE
“Owners not to be responsible if the vessel under the currency of this charter party stays at port or anchorage or ...
Tuesday, 25 November 14
FOB RICHARDS BAY COAL SWAP FOR Q4' 15 DELIVERY CLOSED AT US$ 68.20
COALspot.com: API 4 FOB Richards Bay Coal for delivery Q1' 2015 gained month on month, week on week and day over day.
The Q1 swap has gain ...
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- VISA Power Limited - India
- Heidelberg Cement - Germany
- Price Waterhouse Coopers - Russia
- Tamil Nadu electricity Board
- Bukit Makmur.PT - Indonesia
- Standard Chartered Bank - UAE
- Barasentosa Lestari - Indonesia
- Medco Energi Mining Internasional
- San Jose City I Power Corp, Philippines
- Maharashtra Electricity Regulatory Commission - India
- New Zealand Coal & Carbon
- Salva Resources Pvt Ltd - India
- Australian Coal Association
- Uttam Galva Steels Limited - India
- Miang Besar Coal Terminal - Indonesia
- Global Business Power Corporation, Philippines
- Dalmia Cement Bharat India
- Planning Commission, India
- Goldman Sachs - Singapore
- Intertek Mineral Services - Indonesia
- PowerSource Philippines DevCo
- Parliament of New Zealand
- Africa Commodities Group - South Africa
- Meenaskhi Energy Private Limited - India
- Bangladesh Power Developement Board
- Bulk Trading Sa - Switzerland
- Anglo American - United Kingdom
- Star Paper Mills Limited - India
- Gujarat Sidhee Cement - India
- Minerals Council of Australia
- India Bulls Power Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indogreen Group - Indonesia
- Rio Tinto Coal - Australia
- The Treasury - Australian Government
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indonesian Coal Mining Association
- Jindal Steel & Power Ltd - India
- Electricity Authority, New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mintek Dendrill Indonesia
- Gujarat Mineral Development Corp Ltd - India
- MS Steel International - UAE
- Parry Sugars Refinery, India
- Carbofer General Trading SA - India
- Altura Mining Limited, Indonesia
- TeaM Sual Corporation - Philippines
- Trasteel International SA, Italy
- PNOC Exploration Corporation - Philippines
- Siam City Cement - Thailand
- CNBM International Corporation - China
- SN Aboitiz Power Inc, Philippines
- Therma Luzon, Inc, Philippines
- Mercuria Energy - Indonesia
- Kumho Petrochemical, South Korea
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- Makarim & Taira - Indonesia
- Ministry of Mines - Canada
- Central Electricity Authority - India
- GMR Energy Limited - India
- Ministry of Finance - Indonesia
- Toyota Tsusho Corporation, Japan
- Aditya Birla Group - India
- South Luzon Thermal Energy Corporation
- Sree Jayajothi Cements Limited - India
- Grasim Industreis Ltd - India
- Malabar Cements Ltd - India
- Indika Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- ICICI Bank Limited - India
- AsiaOL BioFuels Corp., Philippines
- Chamber of Mines of South Africa
- Petron Corporation, Philippines
- Lanco Infratech Ltd - India
- Tata Chemicals Ltd - India
- Ind-Barath Power Infra Limited - India
- Bhushan Steel Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Renaissance Capital - South Africa
- Ambuja Cements Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Binh Thuan Hamico - Vietnam
- Bhoruka Overseas - Indonesia
- Ministry of Transport, Egypt
- Sakthi Sugars Limited - India
- Formosa Plastics Group - Taiwan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- International Coal Ventures Pvt Ltd - India
- SMG Consultants - Indonesia
- Eastern Energy - Thailand
- Wood Mackenzie - Singapore
- Georgia Ports Authority, United States
- Marubeni Corporation - India
- Eastern Coal Council - USA
- Directorate Of Revenue Intelligence - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Simpson Spence & Young - Indonesia
- Power Finance Corporation Ltd., India
- Energy Link Ltd, New Zealand
- Posco Energy - South Korea
- Timah Investasi Mineral - Indoneisa
- GN Power Mariveles Coal Plant, Philippines
- McConnell Dowell - Australia
- Bhatia International Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Kideco Jaya Agung - Indonesia
- Latin American Coal - Colombia
- Thai Mozambique Logistica
- IHS Mccloskey Coal Group - USA
- Economic Council, Georgia
- Pipit Mutiara Jaya. PT, Indonesia
- Indian Energy Exchange, India
- Australian Commodity Traders Exchange
- Leighton Contractors Pty Ltd - Australia
- Orica Australia Pty. Ltd.
- Global Coal Blending Company Limited - Australia
- Savvy Resources Ltd - HongKong
- Merrill Lynch Commodities Europe
- IEA Clean Coal Centre - UK
- Holcim Trading Pte Ltd - Singapore
- White Energy Company Limited
- Xindia Steels Limited - India
- Siam City Cement PLC, Thailand
- Central Java Power - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Semirara Mining Corp, Philippines
- Coalindo Energy - Indonesia
- Vizag Seaport Private Limited - India
- Energy Development Corp, Philippines
- Sarangani Energy Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Straits Asia Resources Limited - Singapore
- Sical Logistics Limited - India
- Indian Oil Corporation Limited
- Karaikal Port Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Maheswari Brothers Coal Limited - India
- Sojitz Corporation - Japan
- Ceylon Electricity Board - Sri Lanka
- Attock Cement Pakistan Limited
- Jaiprakash Power Ventures ltd
- Kalimantan Lumbung Energi - Indonesia
- Wilmar Investment Holdings
- Vijayanagar Sugar Pvt Ltd - India
- Romanian Commodities Exchange
- Bahari Cakrawala Sebuku - Indonesia
- Bayan Resources Tbk. - Indonesia
- Kobexindo Tractors - Indoneisa
- Bharathi Cement Corporation - India
- Independent Power Producers Association of India
- Coal and Oil Company - UAE
- Orica Mining Services - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Agrawal Coal Company - India
- Port Waratah Coal Services - Australia
- Kaltim Prima Coal - Indonesia
- The University of Queensland
- OPG Power Generation Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Edison Trading Spa - Italy
- Kapuas Tunggal Persada - Indonesia
- Singapore Mercantile Exchange
- Billiton Holdings Pty Ltd - Australia
- Deloitte Consulting - India
- Neyveli Lignite Corporation Ltd, - India
- Manunggal Multi Energi - Indonesia
- Videocon Industries ltd - India
- Aboitiz Power Corporation - Philippines
- CIMB Investment Bank - Malaysia
- Bukit Baiduri Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Pendopo Energi Batubara - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Directorate General of MIneral and Coal - Indonesia
- Banpu Public Company Limited - Thailand
- Samtan Co., Ltd - South Korea
- Karbindo Abesyapradhi - Indoneisa
- Commonwealth Bank - Australia
- ASAPP Information Group - India
- Interocean Group of Companies - India
- Thiess Contractors Indonesia
- Meralco Power Generation, Philippines
- Madhucon Powers Ltd - India
- PTC India Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Sinarmas Energy and Mining - Indonesia
- SMC Global Power, Philippines
- Metalloyd Limited - United Kingdom
- Coastal Gujarat Power Limited - India
- Antam Resourcindo - Indonesia
- Mercator Lines Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Gujarat Electricity Regulatory Commission - India
- LBH Netherlands Bv - Netherlands
- Cement Manufacturers Association - India
- Chettinad Cement Corporation Ltd - India
- The State Trading Corporation of India Ltd
- PetroVietnam Power Coal Import and Supply Company
- Baramulti Group, Indonesia
- Indo Tambangraya Megah - Indonesia
- GVK Power & Infra Limited - India
- Essar Steel Hazira Ltd - India
- Globalindo Alam Lestari - Indonesia
- Iligan Light & Power Inc, Philippines
- Larsen & Toubro Limited - India
- GAC Shipping (India) Pvt Ltd
- London Commodity Brokers - England
- Borneo Indobara - Indonesia
- Kepco SPC Power Corporation, Philippines
- Mjunction Services Limited - India
- Electricity Generating Authority of Thailand
- Vedanta Resources Plc - India
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