JAKARTA Feb 1,2011
(Reuters) Some Indonesian coal traders have declared force majeure after a trade rule change, with around 60-70 vessels stuck in various ports and 3.5 million tonnes unable to be shipped, the chairman of the Indonesian Coal Mining Association said on Tuesday.
It was not immediately clear which trading companies and which buyers were affected, Bob Kamandanu told reporters, after a new trade regulation caused the delays in the world's top thermal coal exporter.
The problems have come after the trade ministry ordered surveyors in January to temporarily halt issuing surveyor reports to traders who are in the process of reapplying for trading permits under a new coal and mining law system. The surveyor reports are documents required for shipping the fuel.
The rule appeared to affect traders who do not own mines and buy blended coal, or aggregate coal, from various small miners, as well as traders who buy coal in barges. It was not clear which firms had declared force majeure.
"The vessels have been stuck in various coal ports around the country. Stockpiles have been building up because the coal can't be loaded to vessels," Bob Kamandanu said.
Most of the vessels were shipping the coal to buyers in India and China, he said.
Indonesia has required exports of mining products including coal and tin to be checked by surveyors before shipping them out as the country seeks to keep illegal mining in check and boost revenue from the sector.
"They have submitted requests for processing permits to the energy and mines ministry since three months ago but with no response," Kamandanu told reporters.
Surveyor reports show the origin of the cargoes and are used to calculate royalties.
The trade rule so far has not affected shipments from coal firms such as top producers Bumi Resources and Adaro Energy , as surveyors are still allowed to issue reports for coal exports from producers.
But it could affect the country's production if the delays run for a longer period, said Kamandanu.
The delays come as Indian traders and end-users are close to resuming prompt buying on thermal coal after a break of several months, some of India's largest traders said last week.
Australia's thermal coal prices on the globalCOAL weekly index, a benchmark for Asia, closed at $127 per tonne for the week to date on Monday, up from $124.25 a week earlier.(Reporting by Alfian; Writing by by Fitri Wulandari; Editing by Neil Chatterjee, sourced: reuters)
Showing posts with label Jakarta. Show all posts
Showing posts with label Jakarta. Show all posts
Tuesday, February 1, 2011
Monday, January 31, 2011
Metals as investors bet the better Tin Prospect
Monday, 31 January, 2011 18:04 BJT
Reuters Singapore / Jakarta, January 28 Xinhua --- pushed tin prices to a record high of investors have been locked in the risk of the market, the tin can market for huge profits into the book is notorious for huge losses.
Technically speaking, market bulls in control of the right to speak, and the main exporting countries experienced heavy rains in Indonesia's tin-producing areas of the short term, the fundamentals of tin added to the charm, and land mines to be dropped, and buy long-term warming will cause a tin charm unabated. Technically speaking, market bulls in control of the right to speak, and the main exporting countries experienced heavy rains in Indonesia's tin-producing areas of the short term, the fundamentals of tin added to the charm, and land mines to be dropped, and buy long-term warming will cause a tin charm has not diminished.
However, tin is notorious for trick investors, because of limited mobility of tin make it very easy to get the book profit, it is difficult to convert these profits real money income. However, tin is notorious for trick investors, because of limited mobility of tin make it very easy to get the book profit, it is difficult to convert these profits real money income.
November 2009, Ebullio Capital Management hedge fund commodity control the London Metal Exchange (LME) stocks almost 90% of the tin and cash contracts. November 2009, Ebullio Capital Management hedge fund commodity control the London Metal Exchange (LME) stocks almost 90% of the tin and cash contracts.
February 2010, the company's assets under management fell to $ 1,470,000, and in November 2009 compared to 4,230 million U.S. dollars, after the company had liquidated some of the actual book assets, as well as some long-held, mainly for LME non-ferrous metals speculative positions. February 2010, the company's assets under management fell to $ 1,470,000, and in November 2009 compared to 4,230 million US dollars, after the company had liquidated some of the actual book assets, as well as some long-held, mainly for LME non-ferrous metals speculative positions.
"It's like the saying goes, too, as people who do not learn from history is bound to repeat it," said a dealer in Singapore. "It's like the saying goes, too, as people who do not learn from history is bound to repeat it, "said a dealer in Singapore.
"I have learned that is not to bet on in the tin. If you can not tin Shangwang strategist, you are likely to lose the bankrupt." "I have learned that is not to bet on in the tin. If you can not tin Shangwang strategist, you are likely to lose the bankrupt. "
Tin Market prospects for the better ........... To the good prospects of Wuxi City
Index of London Metal Exchange (LME) tin contract hit a record high last Friday, 29,700 dollars per tonne, this year the best performing industrial metal, recorded a 10% increase. Index of London Metal Exchange (LME) tin contract hit a record high last Friday, 29,700 dollars per tonne, this year the best performing industrial metal, recorded a 10% increase.
Reuters said analyst Wang Tao, Elliott Wave theory suggests, the tin price is USD 34,000 per tonne walking in the road. Reuters said analyst Wang Tao, Elliott Wave theory suggests, the tin price is USD 34,000 per tonne walking in the road.
Indonesia last month, tin production has been suppressed in the rain and fight the global tin supply of tin consumption accounts for nearly 30% of the estimated 2010 annual production of 105,000 tons. Indonesia last month, tin production has been suppressed in the rain and fight the global tin supply of tin consumption accounts for nearly 30% of the estimated 2010 annual production of 10.5 million tons.
Meanwhile, the status of the land reserves of refined tin in a sharp drop in the trend, which will force the main tin-producing Bangka-Belitung islands out of the mine are starting on the higher cost of offshore exploration for minerals. Meanwhile, the status of the land reserves of refined tin in a sharp drop in the trend, which will force the main tin-producing Bangka-Belitung islands out of the mine are starting on the higher cost of offshore mineral exploration.
International Tin Research Organization (ITRI) this week estimated the global tin consumption in 2010 was 360,300 tons, up 12.5%. International Tin Research Organization (ITRI) this week estimated the global tin consumption in 2010 was 360,300 tons, up 12.5%.
Tin demand in the coming years is expected to rise, analysts continue to forecast months, Indonesia's tin production due to lack of mining investment will decline. (End) Tin demand in the coming years is expected to rise, analysts continue to forecast months, Indonesia's tin production due to lack of mining investment will decline.
(Compile Lan Xiu-juan;sourced reuters)
Reuters Singapore / Jakarta, January 28 Xinhua --- pushed tin prices to a record high of investors have been locked in the risk of the market, the tin can market for huge profits into the book is notorious for huge losses.
Technically speaking, market bulls in control of the right to speak, and the main exporting countries experienced heavy rains in Indonesia's tin-producing areas of the short term, the fundamentals of tin added to the charm, and land mines to be dropped, and buy long-term warming will cause a tin charm unabated. Technically speaking, market bulls in control of the right to speak, and the main exporting countries experienced heavy rains in Indonesia's tin-producing areas of the short term, the fundamentals of tin added to the charm, and land mines to be dropped, and buy long-term warming will cause a tin charm has not diminished.
However, tin is notorious for trick investors, because of limited mobility of tin make it very easy to get the book profit, it is difficult to convert these profits real money income. However, tin is notorious for trick investors, because of limited mobility of tin make it very easy to get the book profit, it is difficult to convert these profits real money income.
November 2009, Ebullio Capital Management hedge fund commodity control the London Metal Exchange (LME) stocks almost 90% of the tin and cash contracts. November 2009, Ebullio Capital Management hedge fund commodity control the London Metal Exchange (LME) stocks almost 90% of the tin and cash contracts.
February 2010, the company's assets under management fell to $ 1,470,000, and in November 2009 compared to 4,230 million U.S. dollars, after the company had liquidated some of the actual book assets, as well as some long-held, mainly for LME non-ferrous metals speculative positions. February 2010, the company's assets under management fell to $ 1,470,000, and in November 2009 compared to 4,230 million US dollars, after the company had liquidated some of the actual book assets, as well as some long-held, mainly for LME non-ferrous metals speculative positions.
"It's like the saying goes, too, as people who do not learn from history is bound to repeat it," said a dealer in Singapore. "It's like the saying goes, too, as people who do not learn from history is bound to repeat it, "said a dealer in Singapore.
"I have learned that is not to bet on in the tin. If you can not tin Shangwang strategist, you are likely to lose the bankrupt." "I have learned that is not to bet on in the tin. If you can not tin Shangwang strategist, you are likely to lose the bankrupt. "
Tin Market prospects for the better ........... To the good prospects of Wuxi City
Index of London Metal Exchange (LME) tin contract hit a record high last Friday, 29,700 dollars per tonne, this year the best performing industrial metal, recorded a 10% increase. Index of London Metal Exchange (LME) tin contract hit a record high last Friday, 29,700 dollars per tonne, this year the best performing industrial metal, recorded a 10% increase.
Reuters said analyst Wang Tao, Elliott Wave theory suggests, the tin price is USD 34,000 per tonne walking in the road. Reuters said analyst Wang Tao, Elliott Wave theory suggests, the tin price is USD 34,000 per tonne walking in the road.
Indonesia last month, tin production has been suppressed in the rain and fight the global tin supply of tin consumption accounts for nearly 30% of the estimated 2010 annual production of 105,000 tons. Indonesia last month, tin production has been suppressed in the rain and fight the global tin supply of tin consumption accounts for nearly 30% of the estimated 2010 annual production of 10.5 million tons.
Meanwhile, the status of the land reserves of refined tin in a sharp drop in the trend, which will force the main tin-producing Bangka-Belitung islands out of the mine are starting on the higher cost of offshore exploration for minerals. Meanwhile, the status of the land reserves of refined tin in a sharp drop in the trend, which will force the main tin-producing Bangka-Belitung islands out of the mine are starting on the higher cost of offshore mineral exploration.
International Tin Research Organization (ITRI) this week estimated the global tin consumption in 2010 was 360,300 tons, up 12.5%. International Tin Research Organization (ITRI) this week estimated the global tin consumption in 2010 was 360,300 tons, up 12.5%.
Tin demand in the coming years is expected to rise, analysts continue to forecast months, Indonesia's tin production due to lack of mining investment will decline. (End) Tin demand in the coming years is expected to rise, analysts continue to forecast months, Indonesia's tin production due to lack of mining investment will decline.
(Compile Lan Xiu-juan;sourced reuters)
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