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Sunday, 06 May 12
EXPORT DUTY ON MINERAL FINALLY TO BECOME EFFECTIVE NEXT WEEK
.jpg) COALspot.com - Mineral ore exporters of Indonesia ( only IUP holders) are required to obtain recommendation letter from the energy and mineral resources ministry before being able to export metal ore starting from 7th May 2012 until 12 January 2014.
By 12 January 2014, all mineral ore and unprocessed coal exports will be stopped.
According to a notice published on directorate general of mineral and coal’s website, the recommendation will only be granted to companies, if the companies fulfill certain requirements, such as IUP status must be clean and clear, the company have paid all their tax and non-tax financial obligations, and they must submit a comprehensive proposal on whether they want to build their own smelters, establish a consortium with other companies to jointly build smelters, or sell their raw materials to smelting companies in the country.
Companies must also require to sign integrity pacts with the government undertaking they will stop exporting raw materials in 2014 as mandated by the Minerals and Coal Law. A 20-percent export duty on 14 mineral commodities (antimony, bauxite, chromium, copper, gold, iron ore, iron sand, lead, manganese, molybdenum, nickel, platinum, silver and tin ) will be imposed from 7th May 2012.
In the meantime, the energy and mineral resources ministry’s director general for minerals and coal, revealed the export tax and the requirements would apply only to IUP holders and not for contract of work (CoW) holders.
The government was silent on coal either export duty or export ban. Previously government was planning to introduce a ban on low calorific value coal or unprocessed coal by 2014, and finance ministry of Indonesia is expected to issue a regulation to impose export duty. A official from directorate general of mineral and coal previously revealed that, the export duty will be around 25 percent in 2012 and 50 percent in 2013.
However instead of proposed 25 percent export duty on mineral in 2012, now government is introduced only 20 percent duty and coal exempted temporary from any export duty.
If export duty on coal introduced and implemented, it will be applicable only for IUP holders and not for CCoW holders. According to market sources, CCoW holders are holding at least 70-80 percent of Indonesian coal production and exports.
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Thursday, 09 November 23
GREEK AND CHINESE COMPANIES OWN 34% OF THE GLOBAL FLEET’S CARGO CAPACITY - BIMCO
“The global fleet of cargo carrying ships consists of around 61,000 ships with a deadweight capacity of about 2,200 million tonnes. The ships ...
Monday, 23 October 23
CHINA SEPT COAL OUTPUT HITS SIX-MONTH HIGH ON RISING POWER DEMAND - REUTERS
China’s September coal output rose 0.4% from August to the highest level since March, official data showed on Wednesday, on rising power dema ...
Monday, 23 October 23
INDIA COAL INVENTORIES DROP AT FASTEST PACE IN TWO YEARS, BOOSTING IMPORTS - REUTERS
Coal inventories at Indian power plants in the first half of October fell at their fastest rate in two years, an analysis of government data showed ...
Tuesday, 19 September 23
LNG SHIPPING STOCKS: THE ASIAN GROWTH UP-INDICES
Last week, the UP World LNG Shipping Index (UPI) gained 3.81 points or 2.51%, closing at 155.85 points. This index tracks the performance of LNG sh ...
Sunday, 10 September 23
GOLDMAN SACHS PREDICTS OIL PRICE TO HIT $100 ON OPEC CUTS - YAHOO FINANCE
Oil supply cuts by Saudi Arabia and Russia could lead to Brent crude jumping as high as $107 a barrel in 2024, Goldman Sachs Commodities Research h ...
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- Merrill Lynch Commodities Europe
- Antam Resourcindo - Indonesia
- Star Paper Mills Limited - India
- Gujarat Sidhee Cement - India
- Global Business Power Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Savvy Resources Ltd - HongKong
- Formosa Plastics Group - Taiwan
- Bukit Asam (Persero) Tbk - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- GAC Shipping (India) Pvt Ltd
- Iligan Light & Power Inc, Philippines
- Bhatia International Limited - India
- Kobexindo Tractors - Indoneisa
- Energy Link Ltd, New Zealand
- Africa Commodities Group - South Africa
- Riau Bara Harum - Indonesia
- European Bulk Services B.V. - Netherlands
- GN Power Mariveles Coal Plant, Philippines
- Alfred C Toepfer International GmbH - Germany
- Indogreen Group - Indonesia
- SMC Global Power, Philippines
- Siam City Cement - Thailand
- Jorong Barutama Greston.PT - Indonesia
- Indian Oil Corporation Limited
- Global Green Power PLC Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Globalindo Alam Lestari - Indonesia
- Karaikal Port Pvt Ltd - India
- India Bulls Power Limited - India
- Malabar Cements Ltd - India
- Dalmia Cement Bharat India
- Ministry of Mines - Canada
- Price Waterhouse Coopers - Russia
- Therma Luzon, Inc, Philippines
- Indonesian Coal Mining Association
- Electricity Generating Authority of Thailand
- Kideco Jaya Agung - Indonesia
- IEA Clean Coal Centre - UK
- Orica Australia Pty. Ltd.
- Bhushan Steel Limited - India
- Bharathi Cement Corporation - India
- Ind-Barath Power Infra Limited - India
- Krishnapatnam Port Company Ltd. - India
- Borneo Indobara - Indonesia
- Tamil Nadu electricity Board
- Directorate General of MIneral and Coal - Indonesia
- Siam City Cement PLC, Thailand
- White Energy Company Limited
- Tata Chemicals Ltd - India
- Georgia Ports Authority, United States
- Trasteel International SA, Italy
- Samtan Co., Ltd - South Korea
- Straits Asia Resources Limited - Singapore
- Kalimantan Lumbung Energi - Indonesia
- CIMB Investment Bank - Malaysia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bangladesh Power Developement Board
- Thai Mozambique Logistica
- Economic Council, Georgia
- Parry Sugars Refinery, India
- Madhucon Powers Ltd - India
- Indo Tambangraya Megah - Indonesia
- Standard Chartered Bank - UAE
- Xindia Steels Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Jaiprakash Power Ventures ltd
- Semirara Mining Corp, Philippines
- Vizag Seaport Private Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kaltim Prima Coal - Indonesia
- San Jose City I Power Corp, Philippines
- Uttam Galva Steels Limited - India
- Thiess Contractors Indonesia
- Power Finance Corporation Ltd., India
- Kohat Cement Company Ltd. - Pakistan
- Pipit Mutiara Jaya. PT, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Wood Mackenzie - Singapore
- ASAPP Information Group - India
- London Commodity Brokers - England
- Sindya Power Generating Company Private Ltd
- Minerals Council of Australia
- Coalindo Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Ambuja Cements Ltd - India
- Australian Coal Association
- New Zealand Coal & Carbon
- Kumho Petrochemical, South Korea
- ICICI Bank Limited - India
- Directorate Of Revenue Intelligence - India
- Singapore Mercantile Exchange
- OPG Power Generation Pvt Ltd - India
- The University of Queensland
- CNBM International Corporation - China
- Ceylon Electricity Board - Sri Lanka
- Asmin Koalindo Tuhup - Indonesia
- Attock Cement Pakistan Limited
- Romanian Commodities Exchange
- Eastern Energy - Thailand
- MS Steel International - UAE
- Indian Energy Exchange, India
- Central Electricity Authority - India
- SN Aboitiz Power Inc, Philippines
- Meralco Power Generation, Philippines
- Sarangani Energy Corporation, Philippines
- Ministry of Finance - Indonesia
- Meenaskhi Energy Private Limited - India
- Mintek Dendrill Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Leighton Contractors Pty Ltd - Australia
- Billiton Holdings Pty Ltd - Australia
- Maharashtra Electricity Regulatory Commission - India
- Maheswari Brothers Coal Limited - India
- Sree Jayajothi Cements Limited - India
- Agrawal Coal Company - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Energy Development Corp, Philippines
- Mercator Lines Limited - India
- AsiaOL BioFuels Corp., Philippines
- Marubeni Corporation - India
- Makarim & Taira - Indonesia
- Barasentosa Lestari - Indonesia
- Eastern Coal Council - USA
- Videocon Industries ltd - India
- Anglo American - United Kingdom
- Rio Tinto Coal - Australia
- Holcim Trading Pte Ltd - Singapore
- Edison Trading Spa - Italy
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Simpson Spence & Young - Indonesia
- Interocean Group of Companies - India
- McConnell Dowell - Australia
- VISA Power Limited - India
- Altura Mining Limited, Indonesia
- Renaissance Capital - South Africa
- Aditya Birla Group - India
- IHS Mccloskey Coal Group - USA
- Oldendorff Carriers - Singapore
- Port Waratah Coal Services - Australia
- Electricity Authority, New Zealand
- Medco Energi Mining Internasional
- Coastal Gujarat Power Limited - India
- Larsen & Toubro Limited - India
- Planning Commission, India
- Bhoruka Overseas - Indonesia
- Heidelberg Cement - Germany
- PetroVietnam Power Coal Import and Supply Company
- GVK Power & Infra Limited - India
- Independent Power Producers Association of India
- Kepco SPC Power Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Essar Steel Hazira Ltd - India
- Vedanta Resources Plc - India
- Mercuria Energy - Indonesia
- GMR Energy Limited - India
- Cement Manufacturers Association - India
- Grasim Industreis Ltd - India
- Parliament of New Zealand
- Chamber of Mines of South Africa
- Wilmar Investment Holdings
- Bayan Resources Tbk. - Indonesia
- TeaM Sual Corporation - Philippines
- Commonwealth Bank - Australia
- Indika Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Sojitz Corporation - Japan
- Chettinad Cement Corporation Ltd - India
- Bukit Baiduri Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Baramulti Group, Indonesia
- Orica Mining Services - Indonesia
- Coal and Oil Company - UAE
- Kapuas Tunggal Persada - Indonesia
- Intertek Mineral Services - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Pendopo Energi Batubara - Indonesia
- Australian Commodity Traders Exchange
- Ministry of Transport, Egypt
- Petron Corporation, Philippines
- Lanco Infratech Ltd - India
- Latin American Coal - Colombia
- Central Java Power - Indonesia
- South Luzon Thermal Energy Corporation
- Goldman Sachs - Singapore
- Bulk Trading Sa - Switzerland
- Binh Thuan Hamico - Vietnam
- Miang Besar Coal Terminal - Indonesia
- SMG Consultants - Indonesia
- The Treasury - Australian Government
- Cigading International Bulk Terminal - Indonesia
- Global Coal Blending Company Limited - Australia
- Mjunction Services Limited - India
- The State Trading Corporation of India Ltd
- International Coal Ventures Pvt Ltd - India
- Deloitte Consulting - India
- Jindal Steel & Power Ltd - India
- Bukit Makmur.PT - Indonesia
- Sinarmas Energy and Mining - Indonesia
- PTC India Limited - India
- Salva Resources Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Sakthi Sugars Limited - India
- Toyota Tsusho Corporation, Japan
- Bahari Cakrawala Sebuku - Indonesia
- Sical Logistics Limited - India
- PowerSource Philippines DevCo
- Rashtriya Ispat Nigam Limited - India
- Kartika Selabumi Mining - Indonesia
- Posco Energy - South Korea
- PNOC Exploration Corporation - Philippines
- Carbofer General Trading SA - India
- Gujarat Electricity Regulatory Commission - India
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