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Friday, 20 February 15
GOVT SET TO INCREASE COAL OUTPUT TARGET THIS YEAR - JAKARTA POST
 The Energy and Mineral Resources Ministry is planning to increase its coal output target this year as the government seeks to offset the ongoing decline in the commodity’s price.
Accordingt to The Jakarta Post, the one of th eleading Indonesian English news paper, Bambang Tjahjono, the director for coal at the Ministry’s directorate general for mineral and coal, said an increase in the output target would take this year’s production to 455 million tons, or close to last year’s output of 458 million tons.
The mineral and coal office initially targeted for coal output to reach only 425 million tons this year.
From last year’s total output of 458 million tons, the mineral and coal office managed to collect Rp 35.4 trillion in royalties from the holders of mineral and coal mining permits and contracts of work.
Under the revised state budget, the government is aiming to collect Rp 52.5 trillion from the mineral and coal sector this year. Relying only on royalty payments, which will be set at 7 percent for low-calorie coal, 9 percent for the medium-calorie type and 13.5 percent for high-calorie coal, will be unlikely to help the mineral and coal office meet the revenue target.
There’s one proposal to demand 13.5 percent in royalties across all the coal types. Given the ongoing decrease in coal prices, however, the government was confident that any increase would impact badly on producers, according to R. Sukhyar, the director general for mineral and coal.
There had been a proposal to increase the level of royalty payments from the range of 7 to 13.5 percent, an increase from the 3 percent, 5 percent and 7 percent levels as stipulated in a 2012 regulation.
However, the plan was rejected by industry players who claimed that the royalty level would be too burdensome to their businesses, which have been under pressure because of the decline in coal prices.
The Indonesian coal price reference (HBA), was set at US$62.92 per ton in February, lower than the $63.84 per ton set a month earlier.
“This is the hardest one. The solution, beside increasing production volumes and royalty payments, is to collect late payments from producers that have not been collected,” Bambang said.
The mineral and coal office has been working with the Corruption Eradication Commission (KPK) to ensure that all mining companies have carried out their obligations to the state, including paying their royalties. Last year, the KPK found that numerous miners have not paid their royalties.
The pressures on coal prices are expected to continue particularly because of slowing demand from China, a major consumer of coal.
Source: The Jakarta Post
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Wednesday, 14 January 15
MARKET INSIGHT - TIMOS PAPADIMITRIOU
In Oil we trust! The Barrel price has declined by almost a third in comparison to the 2014 January and has being on the downhill since early last s ...
Wednesday, 14 January 15
COMMODITIES AREN'T PRIMED FOR A REBOUND DURING 2015: SHIPPING COULD BENEFIT FROM LOWER PRICES - ROUSSANOGLOU, HELLENIC SHIPPING NEWS
In the recent past, higher commodity prices were driven by an increase in demand from developing countries, which spelled good news for ship owners ...
Wednesday, 14 January 15
SUB-BIT FOB INDONESIA COAL SWAP FOR Q1 DELIVERY CLOSED AT US$ 46.97 PMT
COALspot.com: Indonesian coal swaps for delivery Q1' 2015 declined month on month and week over week.
The Q1 swap has fell US$ 1.53 (-3.15 ...
Wednesday, 14 January 15
Q4' 15 FOB NEWCASTLE COAL SWAP CLOSED 4.51% LOWER COMPARED TO Q1' 15 PRICE
COALspot.com: API 5 FOB Newcastle Coal swap for Q1’ 2015 delivery lost US$ 1.56 per MT (-3.0%) month over month and US$ 1.03 (-2.0%) week ove ...
Tuesday, 13 January 15
MORE PITFALLS FOR OWNERS LOOKING TO TERMINATE FOR UNPAID HIRE - INCE & CO
KNOWLEDGE TO ELEVATE
It is a debatable point whether or not the obligation to pay hire under a time charter is a condition of the contract or ...
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- Ceylon Electricity Board - Sri Lanka
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- Coal and Oil Company - UAE
- Rashtriya Ispat Nigam Limited - India
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- IHS Mccloskey Coal Group - USA
- Meralco Power Generation, Philippines
- Mjunction Services Limited - India
- Ministry of Mines - Canada
- Energy Development Corp, Philippines
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- Bangladesh Power Developement Board
- GMR Energy Limited - India
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- Indonesian Coal Mining Association
- Singapore Mercantile Exchange
- Indogreen Group - Indonesia
- Toyota Tsusho Corporation, Japan
- Renaissance Capital - South Africa
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- Bank of Tokyo Mitsubishi UFJ Ltd
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- Maharashtra Electricity Regulatory Commission - India
- Semirara Mining and Power Corporation, Philippines
- Cement Manufacturers Association - India
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- Posco Energy - South Korea
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- Savvy Resources Ltd - HongKong
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- Eastern Coal Council - USA
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- Standard Chartered Bank - UAE
- Metalloyd Limited - United Kingdom
- Wood Mackenzie - Singapore
- Agrawal Coal Company - India
- Essar Steel Hazira Ltd - India
- ASAPP Information Group - India
- Jorong Barutama Greston.PT - Indonesia
- Medco Energi Mining Internasional
- Interocean Group of Companies - India
- Thiess Contractors Indonesia
- Bahari Cakrawala Sebuku - Indonesia
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- Directorate General of MIneral and Coal - Indonesia
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- London Commodity Brokers - England
- Ministry of Finance - Indonesia
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- PetroVietnam Power Coal Import and Supply Company
- Aditya Birla Group - India
- Xindia Steels Limited - India
- SN Aboitiz Power Inc, Philippines
- Intertek Mineral Services - Indonesia
- Sindya Power Generating Company Private Ltd
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- Directorate Of Revenue Intelligence - India
- CIMB Investment Bank - Malaysia
- Cigading International Bulk Terminal - Indonesia
- Australian Commodity Traders Exchange
- Port Waratah Coal Services - Australia
- Bhoruka Overseas - Indonesia
- PowerSource Philippines DevCo
- Tata Chemicals Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- The University of Queensland
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- Energy Link Ltd, New Zealand
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- Australian Coal Association
- Banpu Public Company Limited - Thailand
- Holcim Trading Pte Ltd - Singapore
- Leighton Contractors Pty Ltd - Australia
- The Treasury - Australian Government
- Bayan Resources Tbk. - Indonesia
- Coastal Gujarat Power Limited - India
- SMG Consultants - Indonesia
- Eastern Energy - Thailand
- Wilmar Investment Holdings
- Vijayanagar Sugar Pvt Ltd - India
- Sojitz Corporation - Japan
- Coalindo Energy - Indonesia
- Trasteel International SA, Italy
- Iligan Light & Power Inc, Philippines
- Rio Tinto Coal - Australia
- Minerals Council of Australia
- Barasentosa Lestari - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- MS Steel International - UAE
- Jaiprakash Power Ventures ltd
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- Ministry of Transport, Egypt
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- Romanian Commodities Exchange
- Gujarat Electricity Regulatory Commission - India
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- GAC Shipping (India) Pvt Ltd
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- Billiton Holdings Pty Ltd - Australia
- Bulk Trading Sa - Switzerland
- Electricity Authority, New Zealand
- PTC India Limited - India
- Manunggal Multi Energi - Indonesia
- Africa Commodities Group - South Africa
- Malabar Cements Ltd - India
- Orica Australia Pty. Ltd.
- Formosa Plastics Group - Taiwan
- Indika Energy - Indonesia
- Bharathi Cement Corporation - India
- Straits Asia Resources Limited - Singapore
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- Merrill Lynch Commodities Europe
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- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Electricity Generating Authority of Thailand
- Sakthi Sugars Limited - India
- Aboitiz Power Corporation - Philippines
- CNBM International Corporation - China
- Lanco Infratech Ltd - India
- Economic Council, Georgia
- IEA Clean Coal Centre - UK
- Kohat Cement Company Ltd. - Pakistan
- Latin American Coal - Colombia
- Carbofer General Trading SA - India
- Karbindo Abesyapradhi - Indoneisa
- Global Coal Blending Company Limited - Australia
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- Power Finance Corporation Ltd., India
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