Thursday, February 10,
To begin with a positive approach, Ministry of Energy of Indonesia withdraws the ban entailed on coal traders this week and allowed 60 coal trading companies to resume coal shipments.* Minister of Energy has also signed a new regulation on 4th Feb for transportation and sale of coal.
The ban was imposed on traders due to lack of fresh licenses from the Energy and Resources Ministry. Previously ICMA (Indonesian Coal Mining Association) had notified that around 60- 70 vessels were sucked at coal loading ports and 3.5 million tons of coal piled at loading ports due to export ban on coal traders.
Traders optimized that they can clear delayed cargoes as soon as possible and other industries which are involved in coal loading and transportation also return to normalcy after slowing down for almost one month.
Indonesian coal reference price has also climbed up significantly by 13% in February as compared to January, 2011.
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