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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, 19 November 14
SHIPPING MARKET INSIGHT - BY KATERINA RESTIS
The current Ebola outbreak in West Africa has been declared as a worldwide health emergency by the World Health Organization and has had a great im ...
Tuesday, 18 November 14
VALEMAX DEAL TO DETERMINE DRY BULK MARKET'S FATE - DREWRY MARITIME RESEARCH
Vale’s accord to sell and lease four Valemax vessels to COSCO might have negative repercussions on dry bulk freight rates. Vale has committed ...
Tuesday, 18 November 14
SUB-BIT FOB INDONESIA COAL SWAP DELIVERY Q2' 2015 CLOSED AT $ 49.55; DOWN 4.10% M-O-M
COALspot.com: Indonesian coal swaps for delivery Q1' 2015 lost month on month, gained week on week and day on day.
The Q1 swap has lost US ...
Tuesday, 18 November 14
FOB RICHARDS BAY COAL SWAP FOR Q1' 2015 DELIVERY CLOSED AT $ 66.31; UP 1.33% W-O-W
COALspot.com: API 4 FOB Richards Bay Coal swap for Q1’ 2015 delivery has gained US$ 0.27 (+0.41%) month over month and US$ 0.87 (+1.33%) week ...
Tuesday, 18 November 14
CHEAP OIL PRICES COULD RESHAPE GLOBAL OIL EXPORTING MAP - HELLENIC SHIPPING
Tanker owners have enjoyed a rather healthy 2014, but as the year draws to a close, the fall of oil prices is bound to reshape traditional, as well ...
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- Energy Link Ltd, New Zealand
- Karbindo Abesyapradhi - Indoneisa
- Kapuas Tunggal Persada - Indonesia
- Baramulti Group, Indonesia
- Renaissance Capital - South Africa
- Therma Luzon, Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Marubeni Corporation - India
- Latin American Coal - Colombia
- OPG Power Generation Pvt Ltd - India
- Makarim & Taira - Indonesia
- Aboitiz Power Corporation - Philippines
- Commonwealth Bank - Australia
- Parry Sugars Refinery, India
- PetroVietnam Power Coal Import and Supply Company
- Economic Council, Georgia
- Malabar Cements Ltd - India
- South Luzon Thermal Energy Corporation
- Star Paper Mills Limited - India
- Kobexindo Tractors - Indoneisa
- Gujarat Sidhee Cement - India
- GVK Power & Infra Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Independent Power Producers Association of India
- Posco Energy - South Korea
- Siam City Cement - Thailand
- Global Coal Blending Company Limited - Australia
- Krishnapatnam Port Company Ltd. - India
- Global Green Power PLC Corporation, Philippines
- Ministry of Finance - Indonesia
- Bhatia International Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indogreen Group - Indonesia
- Orica Australia Pty. Ltd.
- Australian Coal Association
- Semirara Mining Corp, Philippines
- Mercuria Energy - Indonesia
- Coastal Gujarat Power Limited - India
- PowerSource Philippines DevCo
- LBH Netherlands Bv - Netherlands
- Globalindo Alam Lestari - Indonesia
- Edison Trading Spa - Italy
- Energy Development Corp, Philippines
- Minerals Council of Australia
- Larsen & Toubro Limited - India
- Xindia Steels Limited - India
- Mjunction Services Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Parliament of New Zealand
- Sarangani Energy Corporation, Philippines
- Vizag Seaport Private Limited - India
- Gujarat Electricity Regulatory Commission - India
- Port Waratah Coal Services - Australia
- Formosa Plastics Group - Taiwan
- The Treasury - Australian Government
- TeaM Sual Corporation - Philippines
- SN Aboitiz Power Inc, Philippines
- Georgia Ports Authority, United States
- TNB Fuel Sdn Bhd - Malaysia
- Lanco Infratech Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Rio Tinto Coal - Australia
- Uttam Galva Steels Limited - India
- Bukit Makmur.PT - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Vedanta Resources Plc - India
- White Energy Company Limited
- Dalmia Cement Bharat India
- Intertek Mineral Services - Indonesia
- GMR Energy Limited - India
- Miang Besar Coal Terminal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Interocean Group of Companies - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sree Jayajothi Cements Limited - India
- Alfred C Toepfer International GmbH - Germany
- European Bulk Services B.V. - Netherlands
- Electricity Authority, New Zealand
- Chamber of Mines of South Africa
- Oldendorff Carriers - Singapore
- Billiton Holdings Pty Ltd - Australia
- Grasim Industreis Ltd - India
- SMG Consultants - Indonesia
- Kepco SPC Power Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Petron Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Maheswari Brothers Coal Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- New Zealand Coal & Carbon
- Bhoruka Overseas - Indonesia
- Sical Logistics Limited - India
- Mercator Lines Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Jaiprakash Power Ventures ltd
- Indo Tambangraya Megah - Indonesia
- Samtan Co., Ltd - South Korea
- Kaltim Prima Coal - Indonesia
- Coalindo Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- VISA Power Limited - India
- Altura Mining Limited, Indonesia
- Kohat Cement Company Ltd. - Pakistan
- San Jose City I Power Corp, Philippines
- Metalloyd Limited - United Kingdom
- Pendopo Energi Batubara - Indonesia
- Africa Commodities Group - South Africa
- Thiess Contractors Indonesia
- Ambuja Cements Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Indonesian Coal Mining Association
- Orica Mining Services - Indonesia
- The University of Queensland
- Power Finance Corporation Ltd., India
- Coal and Oil Company - UAE
- India Bulls Power Limited - India
- Attock Cement Pakistan Limited
- Timah Investasi Mineral - Indoneisa
- Indika Energy - Indonesia
- Eastern Coal Council - USA
- Merrill Lynch Commodities Europe
- Jindal Steel & Power Ltd - India
- Indian Oil Corporation Limited
- Directorate Of Revenue Intelligence - India
- Bhushan Steel Limited - India
- Agrawal Coal Company - India
- ICICI Bank Limited - India
- Wilmar Investment Holdings
- Aditya Birla Group - India
- Meenaskhi Energy Private Limited - India
- McConnell Dowell - Australia
- Tata Chemicals Ltd - India
- Sojitz Corporation - Japan
- Medco Energi Mining Internasional
- Salva Resources Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- GAC Shipping (India) Pvt Ltd
- The State Trading Corporation of India Ltd
- Neyveli Lignite Corporation Ltd, - India
- Trasteel International SA, Italy
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Manunggal Multi Energi - Indonesia
- Videocon Industries ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Cigading International Bulk Terminal - Indonesia
- Riau Bara Harum - Indonesia
- Carbofer General Trading SA - India
- Cement Manufacturers Association - India
- PTC India Limited - India
- Sindya Power Generating Company Private Ltd
- Simpson Spence & Young - Indonesia
- SMC Global Power, Philippines
- Bharathi Cement Corporation - India
- Chettinad Cement Corporation Ltd - India
- IHS Mccloskey Coal Group - USA
- Sakthi Sugars Limited - India
- CNBM International Corporation - China
- Kumho Petrochemical, South Korea
- Ind-Barath Power Infra Limited - India
- Ceylon Electricity Board - Sri Lanka
- Madhucon Powers Ltd - India
- Toyota Tsusho Corporation, Japan
- AsiaOL BioFuels Corp., Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Barasentosa Lestari - Indonesia
- Iligan Light & Power Inc, Philippines
- Romanian Commodities Exchange
- Ministry of Transport, Egypt
- Tamil Nadu electricity Board
- IEA Clean Coal Centre - UK
- Kideco Jaya Agung - Indonesia
- Wood Mackenzie - Singapore
- Heidelberg Cement - Germany
- Thai Mozambique Logistica
- Karaikal Port Pvt Ltd - India
- Central Electricity Authority - India
- Bayan Resources Tbk. - Indonesia
- Bangladesh Power Developement Board
- Goldman Sachs - Singapore
- Price Waterhouse Coopers - Russia
- ASAPP Information Group - India
- Siam City Cement PLC, Thailand
- Singapore Mercantile Exchange
- Anglo American - United Kingdom
- Asmin Koalindo Tuhup - Indonesia
- London Commodity Brokers - England
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bulk Trading Sa - Switzerland
- Deloitte Consulting - India
- Planning Commission, India
- Maharashtra Electricity Regulatory Commission - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Bukit Baiduri Energy - Indonesia
- Meralco Power Generation, Philippines
- Eastern Energy - Thailand
- Borneo Indobara - Indonesia
- International Coal Ventures Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Central Java Power - Indonesia
- Standard Chartered Bank - UAE
- Indian Energy Exchange, India
- MS Steel International - UAE
- Ministry of Mines - Canada
- Mintek Dendrill Indonesia
- Banpu Public Company Limited - Thailand
- Electricity Generating Authority of Thailand
- Savvy Resources Ltd - HongKong
- Australian Commodity Traders Exchange
- Sinarmas Energy and Mining - Indonesia
- Essar Steel Hazira Ltd - India
- Semirara Mining and Power Corporation, Philippines
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