INDONESIA allowed 60 coal trading companies to export coal

Wed, Feb09, 2011
A temporary ban imposed on coal traders in January has lifted this week. As of today 60 coal trading companies were allowed to resume coal shipments the export market. Since 5th January 2011, all the coal exports through coal trading companies were banned due to lack of supporting regulations. Indonesia's trade ministry instructed surveyors to halt temporarily issuing surveyor reports to traders in the process of reapplying for trading permits under a new coal and mining law.
Minister of energy has signed a new regulation on 4th February allowing director of general of coal and mineral to sign and issue IUP OP KPP to traders.
According to media reports, director general of coal and minerals has already signed 60 permits and forwarded the list of qualified trading companies to trade department. On receipt of the list of IUPOPKPP holders, trade department has instructed independent surveyors to conduct the survey which is one the requirement to apply the export permit from customs office.
“We started pre-shipment survey for coal that belongs to coal traders”, said an independent surveyor.

Indonesian coal mining association claimed that, around 3.5 million tons of coal piled at loading ports due to exports ban on coal traders since early January, and may be cleared within this month. Some coal traders have declared force majeure and some postponed shipments due to new ban coal traders early January. Around 60 to 70 vessels was also anchored in coal loading anchorages and waiting for coal since early January 2011, said stevedoring and shipping agent.
Traders optimized that, they can clear delayed cargoes as soon as possible and other industries, which are integrated to coal loading and transportation also will return to normal after slowing down for almost one month.

Indonesian coal reference price has also jumped significantly in February compared with January 2011. Energy Ministry has declared February ICRP at US$ 127.05 per metric ton, which was 13.03 percent higher than January HBA of US$ 112.40.(CS)

(sourced:coalspot)
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