Thursday, 09 Feb 2012
MAAMBA Collieries Limited has commenced coal sales with projected sales of 270,000 tonnes of high-grade coal this year amounting to about USD 23 million. The firm, which is under new management following the acquisition of 65 percent shares by Nava Bharat of Singapore in 2010, will from April this year sell 30,000 tonnes of coal per month on the local market.
Maamba Collieries head of corporate affairs Janardhan Lavu said the firm is also finalising enquiries from firms including Universal Mining and Chemical Industries Limited, Zambezi Portland Cement and Dangote Cement.
Mr Lavu said this in an interview on Thursday in Lusaka. He said that “Maamba Collieries has been receiving a lot of enquires and the time has come to commence the movement of coal on executed orders.”
He said the firm is also eyeing regional markets with initial exports of 10,000 tonnes per month.
He added that “We are also targeting Congo DR, Namibia and Malawi and we expect to export 10,000 tonnes of high-grade coal per month this year. We exported 4,000 tonnes of coal to Congo DR last year and will export more depending on the demand.”
Mr Lavu said plans are underway to sell over one million tonnes of washed coal in 2014. He said that “We have projected to sell 70,000 tonnes monthly next year and between 100,000 and 120,000 tonnes in 2014.”
Mr Lavu said Maamba Collieries has the capacity to sell about 120,000 tonnes of washed coal per month but this capacity is dependent on the demand.
He, however, said the demand for coal is currently high, adding that Universal Mining and Chemical Industries Limited alone are expected to procure about 20,000 to 30,000 tonnes per month.
(sourced www.daily-mail.co.zm)
Showing posts with label coal sales. Show all posts
Showing posts with label coal sales. Show all posts
Thursday, February 9, 2012
Friday, January 27, 2012
Government asked to divert E auction coal to power sector
Friday, 27 Jan 2012
Faced with acute fuel scarcity, private power producers, including Reliance, Adanis and TATAs have suggested to Prime Minister, Dr Manmohan Singh that the coal set side for e auction be diverted for power sector at notified prices.
The Association of Power Producers came up with detailed suggestions to address multiple woes plaguing the sector, just days after chiefs of private power companies met the Prime Minister on January 18.
APP in a communication to the Prime Minister’s Office said that “To meet the current (fuel) deficit situation, e auction coal should be diverted for the power sector at notified prices (to avoid tariff shocks).”
APP members that include Adanis, Reliance, TATAs, Essar, Lanco and GMR, account for over 95% of the power capacity in the private sector.
The communication said that “Available coal should be equally distributed to all the plants against FSA/Letter of Assurance/MoU instead of old plants with less efficient operation getting 100% coal and newer, more efficient and higher sized power critical units getting deprived of coal.”
As per the communication, the private power producers have also suggested that domestic coal should be reserved for regulated sectors such as power and fertiliser.
In August last year, a parliamentary panel had said that coal availability for power plants designed to run on indigenous coal would be only 417.5 MT in the current fiscal, as against the requirement of 480 MT.
(Sourced from BL)
Faced with acute fuel scarcity, private power producers, including Reliance, Adanis and TATAs have suggested to Prime Minister, Dr Manmohan Singh that the coal set side for e auction be diverted for power sector at notified prices.
The Association of Power Producers came up with detailed suggestions to address multiple woes plaguing the sector, just days after chiefs of private power companies met the Prime Minister on January 18.
APP in a communication to the Prime Minister’s Office said that “To meet the current (fuel) deficit situation, e auction coal should be diverted for the power sector at notified prices (to avoid tariff shocks).”
APP members that include Adanis, Reliance, TATAs, Essar, Lanco and GMR, account for over 95% of the power capacity in the private sector.
The communication said that “Available coal should be equally distributed to all the plants against FSA/Letter of Assurance/MoU instead of old plants with less efficient operation getting 100% coal and newer, more efficient and higher sized power critical units getting deprived of coal.”
As per the communication, the private power producers have also suggested that domestic coal should be reserved for regulated sectors such as power and fertiliser.
In August last year, a parliamentary panel had said that coal availability for power plants designed to run on indigenous coal would be only 417.5 MT in the current fiscal, as against the requirement of 480 MT.
(Sourced from BL)
Sunday, January 22, 2012
SouthGobi Resources sells more than 4 million tonnes of coal in 2011
Sunday, 22 Jan 2012
SouthGobi Resources Ltd announces the successful completion of 2011 on guidance in terms of coal sales and production. The 2011 sales and production levels represent significant achievements for SouthGobi.
SouthGobi completed the fourth quarter of 2011 in line with its guidance in terms of coal sales and production. The Company sold approximately 1.15 million tonnes of coal during the fourth quarter of 2011 resulting in full year 2011 sales of 4.02 million tonnes against 2.54 million tonnes sold in 2010 an increase in sales of approximately 58%.
Coal production for the fourth quarter of 2011 was approximately 1.34 million tonnes resulting in full year 2011 production of approximately 4.57 million tonnes against coal production of 2.79 million tonnes in 2010, showing growth for the year of approximately 64%.
SouthGobi Resources Ltd announces the successful completion of 2011 on guidance in terms of coal sales and production. The 2011 sales and production levels represent significant achievements for SouthGobi.
SouthGobi completed the fourth quarter of 2011 in line with its guidance in terms of coal sales and production. The Company sold approximately 1.15 million tonnes of coal during the fourth quarter of 2011 resulting in full year 2011 sales of 4.02 million tonnes against 2.54 million tonnes sold in 2010 an increase in sales of approximately 58%.
Coal production for the fourth quarter of 2011 was approximately 1.34 million tonnes resulting in full year 2011 production of approximately 4.57 million tonnes against coal production of 2.79 million tonnes in 2010, showing growth for the year of approximately 64%.
Tuesday, January 3, 2012
PT Bumi is bullish on Indian steam coal demand
Tuesday, 03 Jan 2012
PT Bumi Resources, Indonesia’s largest coal miner by output, is targeting a 14% increase in coal production and sales volume this year on strong demand from India.
Mr Dileep Srivastava investor relations director at Bumi Resources said that the company aimed to have 75 million tonnes of coal production and sales this year, up from an estimated 66 million tonnes in 2011.
Mr Dileep said Bumi Resources expected the coal market to continue strengthening with increasing demand from India and Indonesia, followed by China and other markets.
He said “There will be growth in China still, but it is just nominal growth. The bulk of the growth will come from India because they have a lot of the start up power plants.”
He estimated that 15% of the company’s sales this year would come from India.
Mr Dileep did not elaborate on sales data from India for last year or 2010 but described the potential for the New Year as “significant.”
PT Bumi Resources has a long term contract to supply 10.8 million tonnes of coal annually to TATA Power for two power plants in India, and it is likely to start shipping this year.
(sourced TheJakartaglobe.com)
PT Bumi Resources, Indonesia’s largest coal miner by output, is targeting a 14% increase in coal production and sales volume this year on strong demand from India.
Mr Dileep Srivastava investor relations director at Bumi Resources said that the company aimed to have 75 million tonnes of coal production and sales this year, up from an estimated 66 million tonnes in 2011.
Mr Dileep said Bumi Resources expected the coal market to continue strengthening with increasing demand from India and Indonesia, followed by China and other markets.
He said “There will be growth in China still, but it is just nominal growth. The bulk of the growth will come from India because they have a lot of the start up power plants.”
He estimated that 15% of the company’s sales this year would come from India.
Mr Dileep did not elaborate on sales data from India for last year or 2010 but described the potential for the New Year as “significant.”
PT Bumi Resources has a long term contract to supply 10.8 million tonnes of coal annually to TATA Power for two power plants in India, and it is likely to start shipping this year.
(sourced TheJakartaglobe.com)
Monday, December 12, 2011
Coal minister opposes proposal for sale of coal by block holders
Monday, 12 Dec 2011
PTI reported that the Commission, in a letter to the ministry had suggested that incentives could be provided to block holders for the development and production from the mines by allowing them to sell coal.
Coal ministry has said in reply to the Plan panel that "The value of the mineral held by the captive coal holders is very high in terms of today's prices and block holders will be unduly benefited if permitted to sell coal. If the suggestion of the Planning Commission is agreed to it will pave the way, allowing captive block holders to make huge profits.”
Contending that only 28 coal blocks out of 193 allotted to various power, steel and cement firms in the past 18 years for captive use have come to production, the ministry is of the view that if they are permitted to sell coal they would not show interest in bringing up their end use plants.
The coal ministry said that "...If a part of these reserves are diverted... Block holders would again turn to government for making available equivalent amount of reserves for meeting their requirements sometime in future after extracting profit from reserve...If they start selling coal, they would never show interest in bringing up end use plant.”
Contending that the block holders were allotted mines free of cost for power generation, it added that the proposal of selling coal will not only lead to government's criticism but would allow firms to take undue advantage of the allocation.
(Sourced from PTI)
PTI reported that the Commission, in a letter to the ministry had suggested that incentives could be provided to block holders for the development and production from the mines by allowing them to sell coal.
Coal ministry has said in reply to the Plan panel that "The value of the mineral held by the captive coal holders is very high in terms of today's prices and block holders will be unduly benefited if permitted to sell coal. If the suggestion of the Planning Commission is agreed to it will pave the way, allowing captive block holders to make huge profits.”
Contending that only 28 coal blocks out of 193 allotted to various power, steel and cement firms in the past 18 years for captive use have come to production, the ministry is of the view that if they are permitted to sell coal they would not show interest in bringing up their end use plants.
The coal ministry said that "...If a part of these reserves are diverted... Block holders would again turn to government for making available equivalent amount of reserves for meeting their requirements sometime in future after extracting profit from reserve...If they start selling coal, they would never show interest in bringing up end use plant.”
Contending that the block holders were allotted mines free of cost for power generation, it added that the proposal of selling coal will not only lead to government's criticism but would allow firms to take undue advantage of the allocation.
(Sourced from PTI)
Wednesday, December 7, 2011
L&L Energy inks coal marketing deal with Chinese Co
Wednesday, 07 Dec 2011
Reuters reported that L&L Energy Inc a US based company with coal mining and distribution businesses in China subsidiary signed an agreement with China Chengtong Metal Corporation to jointly sell one million tons of coal in China during 2012.
L&L Energy which was founded in 1995 and operates in Yunnan and Guizhou provinces in southwest China said the sale pact is expected to generate USD 150 million in revenues at USD 150 per ton coal price.
L&L Energy said in a statement that DaXing-L&L Coal Inc a subsidiary of L&L Energy and China Chengtong Metal Tianjin Company a subsidiary of state owned CCMC will jointly source and sell coal in China.
(Sourced from Reuters)
Reuters reported that L&L Energy Inc a US based company with coal mining and distribution businesses in China subsidiary signed an agreement with China Chengtong Metal Corporation to jointly sell one million tons of coal in China during 2012.
L&L Energy which was founded in 1995 and operates in Yunnan and Guizhou provinces in southwest China said the sale pact is expected to generate USD 150 million in revenues at USD 150 per ton coal price.
L&L Energy said in a statement that DaXing-L&L Coal Inc a subsidiary of L&L Energy and China Chengtong Metal Tianjin Company a subsidiary of state owned CCMC will jointly source and sell coal in China.
(Sourced from Reuters)
Tuesday, November 22, 2011
Sadovaya increases coal sales 20pct YoY in 10 months 2011
Tuesday, 22 Nov 2011
Sadovaya Group reported on November 15 a 23% MoM increase in monthly coal sales in October to 136200 tonnes. The company increased underground mining in October by 7% MoM to 45700 tonnes, coal production from waste recovery remained almost unchanged at 5800 tonnes. With such monthly performance, Sadovaya increased January to September 2011 coal sales by 20% YoY to 1 million tonnes including 370,000 tonnes of underground mining which advanced by 61% YoY.
According to Phoenix Capital “The news is marginally positive for SGR. Even though the of volume coal sales in October suggests a 3% Y-o-Y decline, the company operating performance is clearly on track for growth on YoY basis. A new long wall at Sadovaya Mine subsidiary, nearing full capacity in October 2011 is making its contribution to this augment in mining. The growth in coal production by the year end may be fueled by the announced and expected launch of two long walls at Rassvet-1 Mine, once this event materializes. Nevertheless, SGR currently appears to fall short of reaching its 2011 target volumes of 501,000 tonnes of coal production from underground mining and 141,000 tonnes from waste recovery though 1.2 million tonnes of coal sales seems achievable through more selling of purchased and reprocessed coal. The latter suppositions cut to our projections for 2011 EBITDA at USD 25 million which yielded a 39% premium over peers on the forward 2011F EV/EBITDA multiple as of November 15.”
(sourced Phoenix-capital.ua)
Sadovaya Group reported on November 15 a 23% MoM increase in monthly coal sales in October to 136200 tonnes. The company increased underground mining in October by 7% MoM to 45700 tonnes, coal production from waste recovery remained almost unchanged at 5800 tonnes. With such monthly performance, Sadovaya increased January to September 2011 coal sales by 20% YoY to 1 million tonnes including 370,000 tonnes of underground mining which advanced by 61% YoY.
According to Phoenix Capital “The news is marginally positive for SGR. Even though the of volume coal sales in October suggests a 3% Y-o-Y decline, the company operating performance is clearly on track for growth on YoY basis. A new long wall at Sadovaya Mine subsidiary, nearing full capacity in October 2011 is making its contribution to this augment in mining. The growth in coal production by the year end may be fueled by the announced and expected launch of two long walls at Rassvet-1 Mine, once this event materializes. Nevertheless, SGR currently appears to fall short of reaching its 2011 target volumes of 501,000 tonnes of coal production from underground mining and 141,000 tonnes from waste recovery though 1.2 million tonnes of coal sales seems achievable through more selling of purchased and reprocessed coal. The latter suppositions cut to our projections for 2011 EBITDA at USD 25 million which yielded a 39% premium over peers on the forward 2011F EV/EBITDA multiple as of November 15.”
(sourced Phoenix-capital.ua)
Sunday, October 30, 2011
Now Coal Industry turn on Outsourcing services
October30, 2011
Delhi: Now outsource coal industry monitoring services to India.
The firm Lee Explorer Infosys is an India based outsourcing company is providing coal industry monitoring services. The team is experienced in online data monitoring and experts and individuals are well English spoken guys, supported 24 hours services.
The firm Lee Explorer Infosys is an India based outsourcing company is providing coal industry monitoring services. The team is experienced in online data monitoring and experts and individuals are well English spoken guys, supported 24 hours services.
About Lee Explorer Infosys (LEI)
The principal objective of Lee Explorer Infosys are;
* Outsourcing Company deals in International Coal Policy, Coal Resources,investment opportunity in coal assets, coal demand and supply position, coal prices, physical and spot prices,coal price negotiation for contract, coal news, coal production, coal consumption, coal shortage, coal blocks, coal mines, coal to liquid technology,acquire coal assest.
* Company's team monitors coal industry and updates clients with all
available informations.
* LEI's informations suggest client (country's energy departments, coal investors, coal traders, coal policy makers,power plants, steel plants, industrial coal consumers) to help in make up there mind to take right decision on right time.
* LEI's team saves energy, time and money and give full returs on investment
* To operate an innovative, efficient, effective, competitive services in World wide Coal industry.
Company Vision:
To be the trusted provider of services that protect client's interest.
Who are Lee Explorer Infosys:
An industry owned, workplace focussed organisation providing best practice
occupational coal investment and return.
Contact Details:
Corporate Office
Lee Explorer Infosys
Tel :+91294-2430499
Mobile:+919460352419
Fax :+91294 2430499
B-1 Haridasji ki Magri,
The Oberoi Udai Vilas Road
Udaipur-313001 (Rajasthan) India
E-mail: Leinfosys@gmail.com
Las2010@gmail.com
* Outsourcing Company deals in International Coal Policy, Coal Resources,investment opportunity in coal assets, coal demand and supply position, coal prices, physical and spot prices,coal price negotiation for contract, coal news, coal production, coal consumption, coal shortage, coal blocks, coal mines, coal to liquid technology,acquire coal assest.
* Company's team monitors coal industry and updates clients with all
available informations.
* LEI's informations suggest client (country's energy departments, coal investors, coal traders, coal policy makers,power plants, steel plants, industrial coal consumers) to help in make up there mind to take right decision on right time.
* LEI's team saves energy, time and money and give full returs on investment
* To operate an innovative, efficient, effective, competitive services in World wide Coal industry.
Company Vision:
To be the trusted provider of services that protect client's interest.
Who are Lee Explorer Infosys:
An industry owned, workplace focussed organisation providing best practice
occupational coal investment and return.
Contact Details:
Corporate Office
Lee Explorer Infosys
Tel :+91294-2430499
Mobile:+919460352419
Fax :+91294 2430499
B-1 Haridasji ki Magri,
The Oberoi Udai Vilas Road
Udaipur-313001 (Rajasthan) India
E-mail: Leinfosys@gmail.com
Las2010@gmail.com
Sunday, February 6, 2011
Indonesian energy minister has signed a degree for coal transportation permits on Friday
Saturday, 05 February 11
Minister of Energy, Darwin Minister Saleh said, that, he had signed a degree for transportation and sale of coal, which was the hot topic in Indonesian coal industry since early last month, as quoted by Investor Daily.
“I already signed the decree” minister said yesterday, Investor daily reported.
According to the minister, “ he was very cautioned to take a decision as any decision should not lead to any problem later date.
"We were not slow, but there should be a balance between speed and caution” he said. The extra caution was necessary because this is the delegation of authority from the minister to the director general. Moreover, coal is a strategic commodity, so the decision which ever we take should not be disturbed the national interest” minister further said, according to media.
He further explained, "the part of authority to handle coal sector has already transferred to local government. Therefore, central government must take the necessary safeguard to secure national interest", as quoted by Investor Daily.
Previously, Indonesian Coal Mining Association (APBI) deplores, if the minister will not issue the mining permit production operations and sale soon, then it might affect coal ports.
On 24th January 2011, APBI has sent a letter to Minister of Energy to issue the IUP OP K PP as soon as possible. ICMA also has notified that, around 60 - 70 vessels were arrested at coal loading ports around Indonesia and losing around US$ 20000-30000 dollars per day.
Temporarily export restriction has cost around 3.5 million tons with around 227. 5 million dollars loses. If the export delay continues, then the coal which was piled for a longer period may catch fire itself.
Minister of Energy, Darwin Minister Saleh said, that, he had signed a degree for transportation and sale of coal, which was the hot topic in Indonesian coal industry since early last month, as quoted by Investor Daily.
“I already signed the decree” minister said yesterday, Investor daily reported.
According to the minister, “ he was very cautioned to take a decision as any decision should not lead to any problem later date.
"We were not slow, but there should be a balance between speed and caution” he said. The extra caution was necessary because this is the delegation of authority from the minister to the director general. Moreover, coal is a strategic commodity, so the decision which ever we take should not be disturbed the national interest” minister further said, according to media.
He further explained, "the part of authority to handle coal sector has already transferred to local government. Therefore, central government must take the necessary safeguard to secure national interest", as quoted by Investor Daily.
Previously, Indonesian Coal Mining Association (APBI) deplores, if the minister will not issue the mining permit production operations and sale soon, then it might affect coal ports.
On 24th January 2011, APBI has sent a letter to Minister of Energy to issue the IUP OP K PP as soon as possible. ICMA also has notified that, around 60 - 70 vessels were arrested at coal loading ports around Indonesia and losing around US$ 20000-30000 dollars per day.
Temporarily export restriction has cost around 3.5 million tons with around 227. 5 million dollars loses. If the export delay continues, then the coal which was piled for a longer period may catch fire itself.
Thursday, February 3, 2011
INDONESIA may miss coal export target in 2011
Feb2, 2011
Indonesian Trade ministry has instructed independent surveyors temporarily not to issue pre-shipment survey report (LS) to the companies which were holding Production Operation IUP (special) for hauling and sale vide letter 15/ DAGLU.3.4/1/2011. The companies that were not holding Production Operation IUP (special) for hauling and sale also would not allowed coal sales between provinces or countries.
According to traders, Indonesian coal trading activities have almost entered in to uncertain situation since early January 2011. As per Regulation 23 of 2010 (regarding the Implementation of Mineral and Coal Mining Business Activities) , a party wishing to buy and sell (trade) minerals or coal must be obtained Production Operation IUP for hauling and sale. The specific purpose Production Operation IUPs are granted by application to the relevant authority. In the case of hauling or sale occurs within an inter-Province or countries, then the minister has to sign the license.
However, In an absence of Ministerial decree related to IUP OP KPP, the trade department has instructed surveyors not to conduct LS for the coal shipments except shipments from IUP OP holder (mine owners). Hence Independent surveyors who were authorized to conduct LS, have stopped issuing LS report for the shippers who does not have valid IUP OP KPP as per regulation 23/2010 article 36 and 37 and letter 15/ DAGLU.3.4/1/2011 issued by Trade department. As quoted by the jakarta post last week, Supriatna Suhala, executive director of the Indonesian Coal Mining Association (APBI), has said “It will create a negative impression for coal mining investors in the future”.
Chairman of the Indonesian Coal Mining Association also said to media that, around 70 ocean going vessels are stuck at coal loading ports around Indonesia because surveyors checking shipments won’t allow the exports before traders obtain fresh licenses from the Energy and Mineral Resources Ministry. “More shipments will be halted as a lot more ships are entering the ports.” He further added.
Some traders have already declared force majeure and meantime others just postponed shipments until they obtain IUP OP K PP said a trader from South Kalimantan. Force majeure is a legal clause that allows producers to miss deliveries because of circumstances beyond their control. According to media reports, Indonesian may lose 3.5 million tons of exports in January 2011“Indonesia, the world’s largest thermal coal exporter may miss the export target in 2011 in case the license matter settled soon”, said market players. They further sais that, license application are pending issuance for more than 4-5 months. Department of Mines are still not clear when the Ministry is going to issue this license. Some coal suppliers were saying that, Minister of mines will delegate some of his authority to director general of mines to settle this issue.
Due to Egypt crisis oil prices are expected to rise from current level and coal will also expected to follow oil prices if Egyptian crisis continues as well as a new cyclone thread to coal bearing areas in Australia.
Delay in issuing new trading permits for Indonesian trading companies, export coal prices may pushed up further meantime domestic coal prices might fall significantly due to excess of availability of coal in the domestic market.
State owned electricity company, PLN may be happy to see the falling of domestic coal prices in coming weeks as PLN has requested coal suppliers to supply coal below January 2011 HBA price. January 2011 HBA ( Indonesian coal reference price) has jumped more than 8 percent early January 2011 compare to December 2010 HBA.
As quoted by The Jakarta Globe on 13 January 2011, PLN chairman Dahlan Iskan said, “We are in a dilemma now. The increasing price of coal is a real problem."
PLN’s director of primary energy, Nur Pamudji also said, PLN would demand producers honor the coal price stated in an Energy Ministry decree. “The decree says that the price of coal in 2011 depends on 2010’s fourth-quarter average,” according to paper report.
However at that time, Supriatna Suhala, APBI’s executive director was said that, the average price in December was $103.4 per metric ton, but coal companies had no choice but to increase their prices. “International coal prices keep increasing, so we have to sell according to global prices”
If you believe an article violates your rights or the rights of others, please contact us.
Indonesian Trade ministry has instructed independent surveyors temporarily not to issue pre-shipment survey report (LS) to the companies which were holding Production Operation IUP (special) for hauling and sale vide letter 15/ DAGLU.3.4/1/2011. The companies that were not holding Production Operation IUP (special) for hauling and sale also would not allowed coal sales between provinces or countries.
According to traders, Indonesian coal trading activities have almost entered in to uncertain situation since early January 2011. As per Regulation 23 of 2010 (regarding the Implementation of Mineral and Coal Mining Business Activities) , a party wishing to buy and sell (trade) minerals or coal must be obtained Production Operation IUP for hauling and sale. The specific purpose Production Operation IUPs are granted by application to the relevant authority. In the case of hauling or sale occurs within an inter-Province or countries, then the minister has to sign the license.
However, In an absence of Ministerial decree related to IUP OP KPP, the trade department has instructed surveyors not to conduct LS for the coal shipments except shipments from IUP OP holder (mine owners). Hence Independent surveyors who were authorized to conduct LS, have stopped issuing LS report for the shippers who does not have valid IUP OP KPP as per regulation 23/2010 article 36 and 37 and letter 15/ DAGLU.3.4/1/2011 issued by Trade department. As quoted by the jakarta post last week, Supriatna Suhala, executive director of the Indonesian Coal Mining Association (APBI), has said “It will create a negative impression for coal mining investors in the future”.
Chairman of the Indonesian Coal Mining Association also said to media that, around 70 ocean going vessels are stuck at coal loading ports around Indonesia because surveyors checking shipments won’t allow the exports before traders obtain fresh licenses from the Energy and Mineral Resources Ministry. “More shipments will be halted as a lot more ships are entering the ports.” He further added.
Some traders have already declared force majeure and meantime others just postponed shipments until they obtain IUP OP K PP said a trader from South Kalimantan. Force majeure is a legal clause that allows producers to miss deliveries because of circumstances beyond their control. According to media reports, Indonesian may lose 3.5 million tons of exports in January 2011“Indonesia, the world’s largest thermal coal exporter may miss the export target in 2011 in case the license matter settled soon”, said market players. They further sais that, license application are pending issuance for more than 4-5 months. Department of Mines are still not clear when the Ministry is going to issue this license. Some coal suppliers were saying that, Minister of mines will delegate some of his authority to director general of mines to settle this issue.
Due to Egypt crisis oil prices are expected to rise from current level and coal will also expected to follow oil prices if Egyptian crisis continues as well as a new cyclone thread to coal bearing areas in Australia.
Delay in issuing new trading permits for Indonesian trading companies, export coal prices may pushed up further meantime domestic coal prices might fall significantly due to excess of availability of coal in the domestic market.
State owned electricity company, PLN may be happy to see the falling of domestic coal prices in coming weeks as PLN has requested coal suppliers to supply coal below January 2011 HBA price. January 2011 HBA ( Indonesian coal reference price) has jumped more than 8 percent early January 2011 compare to December 2010 HBA.
As quoted by The Jakarta Globe on 13 January 2011, PLN chairman Dahlan Iskan said, “We are in a dilemma now. The increasing price of coal is a real problem."
PLN’s director of primary energy, Nur Pamudji also said, PLN would demand producers honor the coal price stated in an Energy Ministry decree. “The decree says that the price of coal in 2011 depends on 2010’s fourth-quarter average,” according to paper report.
However at that time, Supriatna Suhala, APBI’s executive director was said that, the average price in December was $103.4 per metric ton, but coal companies had no choice but to increase their prices. “International coal prices keep increasing, so we have to sell according to global prices”
If you believe an article violates your rights or the rights of others, please contact us.
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