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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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Sunday, 11 January 15
BDI DECLINED 8% ON WEEK; BCI LOST 31%
COALspot.com: The BDI continued its decline in the first week of this year or lost 8 pct week over week. The BDI was closed at 709 points whi ...
Friday, 09 January 15
U.S. EASTERN SPOT STEAM COAL PRICES FELL IN 2014; ROSE IN WEST - EIA
U.S. Eastern spot steam coal prices declined in 2014 compared to 2013 levels because of a decline in steam coal exports.
According to U.S. Ene ...
Friday, 09 January 15
WEEKLY U.S. COAL PRODUCTION UP AN ESTIMATED 2.2% Y-O-Y
COALspot.com – United States the world's one of the largest coal producers, produced approximately 17.6 million short tons (mmst) of coal ...
Thursday, 08 January 15
INDONESIA PRESSES ON WITH HIGHER COAL ROYALTY FEE TO BOOST STATE REVENUE - JG
The Indonesian government is pressing on with its plan to raise the royalty charged to coal miners in order to increase state revenue, but the move ...
Wednesday, 07 January 15
FUEL EFFICIENT SHIPS MAKE LESS SENSE IN LOWER BUNKER PRICE MARKET, BUT FUEL COSTS ARE BOUND TO RISE AGAIN
The shipping industry entered 2015 on mixed emotions, as a relatively buoyant tanker market is met by a rather lackluster dry bulk market. Still, a ...
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- Dr Ramakrishna Prasad Power Pvt Ltd - India
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- Latin American Coal - Colombia
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- Orica Australia Pty. Ltd.
- Electricity Authority, New Zealand
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- European Bulk Services B.V. - Netherlands
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- Straits Asia Resources Limited - Singapore
- Planning Commission, India
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- Barasentosa Lestari - Indonesia
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- Romanian Commodities Exchange
- Meralco Power Generation, Philippines
- Attock Cement Pakistan Limited
- Ministry of Finance - Indonesia
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- Indo Tambangraya Megah - Indonesia
- Orica Mining Services - Indonesia
- Ministry of Mines - Canada
- Leighton Contractors Pty Ltd - Australia
- Thai Mozambique Logistica
- Minerals Council of Australia
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- Central Java Power - Indonesia
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- PTC India Limited - India
- Indian Energy Exchange, India
- Posco Energy - South Korea
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Madhucon Powers Ltd - India
- Eastern Coal Council - USA
- Wood Mackenzie - Singapore
- Goldman Sachs - Singapore
- Global Green Power PLC Corporation, Philippines
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- Semirara Mining Corp, Philippines
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- IHS Mccloskey Coal Group - USA
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- Merrill Lynch Commodities Europe
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- Bukit Makmur.PT - Indonesia
- Manunggal Multi Energi - Indonesia
- London Commodity Brokers - England
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- Trasteel International SA, Italy
- Marubeni Corporation - India
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- Global Coal Blending Company Limited - Australia
- GN Power Mariveles Coal Plant, Philippines
- Dalmia Cement Bharat India
- Bukit Baiduri Energy - Indonesia
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- Singapore Mercantile Exchange
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- Parliament of New Zealand
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- Jindal Steel & Power Ltd - India
- Sojitz Corporation - Japan
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- Medco Energi Mining Internasional
- Intertek Mineral Services - Indonesia
- Simpson Spence & Young - Indonesia
- Port Waratah Coal Services - Australia
- Edison Trading Spa - Italy
- TNB Fuel Sdn Bhd - Malaysia
- Sakthi Sugars Limited - India
- Standard Chartered Bank - UAE
- Pipit Mutiara Jaya. PT, Indonesia
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