Agritrade Resources Limited, a company listed on the stock exchange of Hong Kong with coal operations in Indonesia, continues to strengthen its position in the oil transportation business with acquisition of very large crude carrier (VLCC) worth US$38.4 million.

Great news came from PT Bhimasena Power Indonesia (BPI), a joint venture between Adaro Energy (ADRO), J Power, and Itochu, about its plan to start physical construction of the long-delayed 2×1000 MW coal-fired power plant in Batang Regency, Central Java province. BPI claimed land acquisition for the project has been fully completed.

PT Freeport Indonesia, a company controlled by Freeport McMoRan, has offered 10.64% shares to Indonesian government for around US$1.7 billion pursuant to mandatory divestment under Government Regulation No. 77/2014. That much?

President Jokowi led a cabinet meeting on December 29, 2015 to discuss various issues surrounding the giant Masela Block, where Inpex (Japan) and Shell (UK/Netherland) plan to develop the so-called Abadi LNG project. The President initially planned to meet Inpex/Shell later on, but until now the meeting is still postponed. The cabinet meeting, however, was followed up by energy and mineral resources minister Sudirman Said’s visit to Maluku late last week.

WTI crude oil was settled at US$30.77 per barrel in New York after briefly slipping below US$30 yesterday. Some believe the commodity is heading to US$20 per barrel. What about crude palm oil (CPO)? Will it fall to below US$400 per ton (FOB) like average price in 2002?

Shares of Arch Coal Inc, the second largest coal producer in the United States, collapsed almost 31% Monday following the management decision to file for Chapter 11 bankruptcy protection. Peabody Energy Corp, the world’s largest producer in private sector, also crashed 20%, while Consolidated Energy lost almos 9%.

New owner of PT Berau Coal Energy (BRAU) Tbk, Sinarmas Group, has recently refused to disclose status of its effort to recover US$175 million funds from Rosan P Roeslani, former CEO and shareholder of BRAU, who is now chairman of Indonesian Chamber of Commerce and Industry (KADIN Indonesia). Judith Prakash, Judge at the Singapore Court, however, had actually issued on December 29, 2015 reasons for the issue of the worldwide injunction order against Rosan.

UK has last month closed down its last deep coal mine in North Yorkshire. Alinta Energy, meanwhile, closed down its open cut ming in South Australia earlier in November. Rosan Resources told HKEX this morning that it has closed down Xiaohe Coal Mine No. 2 due to the current downturn of the coal market.