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Thursday, 18 December 14
INDONESIA TO REVISE UP COAL OUTPUT TARGET TO 460 MILLION TONS IN 2015
 COALspot.com: Indonesian government has revised up its next year coal output forecast to 460 million tons from its previous forecast of 421 million tons instead of revised down of its owned declared coal price reference in this month. The Indonesian coal price reference, known as HBA, stood at US$64.65 per ton in December, a 21 percent drop compared to the $81.9 per ton in January.
According to Jakarta post reports, the Energy and Mineral Resources Ministry’s mineral and coal director general, said the coal output target for next year will be 460 million tons with 110 million tons to be allocated for domestic market obligations and the remaining 350 million tons would be for export. The government says it is expecting to see higher coal production next year with the hope it will get more income to offset the continuing decline in global prices.
The output target represents an increase of about 9.5 percent from the maximum output of 421 million tons previously expected for this year, the Jakarta Post further said.
Early this month, the Indonesian Coal Mining Association (APBI), has called on the country’s miners to cut production by 100 million tonnes next year, from over 400 million tonnes of coal estimated for this year in a bid to boost slumping coal prices.
Previously, or until this new development, the government has been also trying to limit coal production to between below 421 million tons — the same level as last year’s production — as part of an attempt to save the resource for future use as well as avoid pressure on coal prices.
However, the government of Indonesia now revised up its target to produce more coal for more income. With higher coal output in 2015, as quoted by media, the mineral and coal office is expecting income from the sector to increase by Rp 10 trillion (approximately $ 787,004,471). The target will increase contributions from the mineral and coal sector to go above the 2015 state budget of Rp 40.6 trillion (approximately $ 3,194,869,995) and the government believes that, the higher contributions from the higher production volumes is seen as necessary to offset the decline in coal prices.
As quoted by the Jakarta post, coal has become a significant contributor to state revenues. Under this year’s state budget, contributions from the mineral and coal sector are targeted to reach Rp 39.67 trillion (approximately $ 3,133,429,441), of which around 70 percent is expected from coal.
The realization of the contribution is expected to be only around Rp 34 trillion (approximately $ 2,686,462,207), according to the mineral and coal office’s secretary Paul Lubis. As of the end of November, the sector collected Rp 30.51 trillion (approximately $ 2,409,341,707) for the state, the paper further said.
The low realization was partly because the country implemented a ban on the export of mineral ores starting on Jan. 12, the paper further reported.
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Friday, 19 December 14
HOW WILL LOWER BUNKER PRICES AFFECT THE SUBSTANTIAL OVERCAPACITY IN DRY BULK MARKET? - BIMCO
As bunker fuel costs have come down from USD 600 per tonnes to USD 330 per tonnes in the past 6 months, much talk about increased ship speed have s ...
Friday, 19 December 14
U.S WEEKLY COAL PRODUCTION REACHED APPROXIMATELY 19.8 MMST; UP 1.0% WOW
COALspot.com – United States the world's one of the largest coal producers, produced approximately 19.8 million short tons (mmst) of coal ...
Friday, 19 December 14
HANDY: SOFTER TONE; PANAMAX: QUIET WEEK; CAPESIZE; PAINFUL WEEK
Handy
A softer tone for rates and volumes for the Supras, perhaps less apparent in the Pacific the last week before the season holidays and good ...
Wednesday, 17 December 14
CAPES RATES SLIPPED BELOW $5,600/DAY, FELL 84% YOY
COALspot.com: In the very rare occurrence when the BCI stands below the BDI, words to describe market sentiment are probably poor, said Intermodal ...
Wednesday, 17 December 14
MARKET INSIGHT - INTERMODAL SHANGHAI, SNP TEAM
As the end of the fourth quarter is approaching, we are all witness to the second hand market prices softening day by day. Any new deal surfacing t ...
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- Mintek Dendrill Indonesia
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- PowerSource Philippines DevCo
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- Romanian Commodities Exchange
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- Dong Bac Coal Mineral Investment Coporation - Vietnam
- IEA Clean Coal Centre - UK
- ICICI Bank Limited - India
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- Wilmar Investment Holdings
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- Filglen & Citicon Mining (HK) Ltd - Hong Kong
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- Alfred C Toepfer International GmbH - Germany
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- PetroVietnam Power Coal Import and Supply Company
- Timah Investasi Mineral - Indoneisa
- Pipit Mutiara Jaya. PT, Indonesia
- Samtan Co., Ltd - South Korea
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