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Tuesday, 04 October 11
COAL MINING GROUP WANTS EXPORT TAX, NOT EXCISE - JG
 One of the leading English news paper in Indonesia, The Jakarta Globe reported that, the government shall reimpose a duty on coal exports, classifying it as a good that has a negative impact instead of charging the commodity with excise, in hopes of boosting state revenue as well as securing domestic needs, according to an executive at the Indonesian Coal Mining Association (APBI).
Supriatna, the executive director of APBI, said on Sunday that the export duty would boost this year’s state revenue as Indonesia is expected to sell 76 percent of its coal output overseas, especially to Asia’s energy-demanding countries such as China, India, Japan and South Korea. APBI is projecting the nation’s coal production to reach 360 million tons this year, after output was 320 million tons in 2010.
Supriatna was optimistic that Indonesia, the world’s second-largest coal exporter after Australia, has strong bargaining power, and global consumers will buy coal even though the price may need to be adjusted if the additional tax takes effect. “Coal is primary energy, it is always needed,” Supriatna said on Sunday.
On Thursday, finance minister Agus Martowardojo set coal as one of 15 products – along with carbonated soft drinks; electric cigarettes; dyes, monosodium glutamate; and diamonds – that should be levied. Indonesia’s excise law says the government can impose excise, or a specific tax, on goods that have negative impact to humans or the environment.
Agung Kuswandono, director general of customs and excises at the finance ministry, said Tuesday that coal was charged as an excise object because of its potential to damage the environment from both its extraction and use. No other minerals have excise taxes.
Indonesia imposed a complex set of export taxes for crude palm oil, the rates of which vary with the international price, as producers seek to create added value to the commodity, apart from securing domestic demand.
Supriatna of APBI believes that should the government impose the tax, it will not hurt coal miners by passing on the costs to consumers. “It will be passed on to buyers. That won’t hurt us,” he said.
However, Supriatna was concerned about the impact to local buyers, including state utility company Perusahaan Listrik Negara, which is likely to bear the burden because electricity rates are fixed, and the company may not be able to pass on the higher costs – any change in utility rates is likely to become a lengthy process with legislators.
“The biggest consumer for domestic market would be PLN. They are building large coal-fired power plants,” Supriatna said.
He said that the government should proceed cautiously with the plan, as 70 percent of total coal mining contracts wouldn’t be affected because of a grandfather clause. Instead, he said, “there must be a renegotiation of contracts.”
The government is eyeing Rp 68.1 trillion in excise revenue in its 2011 revised budget, up 3 percent from last year’s Rp 66.2 trillion. The biggest excise contributor is cigarettes, followed by alcohol.
Source: The Jakarta Globe (Ririn Radiawati Kusuma)
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Thursday, 03 November 11
DRY BULK MARKET OFFICIALLY IN THE RED ON LOWER CARGO DEMAND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market kept falling yesterday, on lower iron ore demand, which has caused the industry’s benchmark, the BDI (Baltic Dry Index) to ...
Wednesday, 02 November 11
MMTC TO BUY 3.73 MILLION TONS OF COAL FOR 2011- 2013
COALspot.com - India’s state-owned coal and mineral trader MMTC looking for 3.73 million tons of power plant coal for the period 2011 - 2012/ ...
Wednesday, 02 November 11
PANAMAX MARKET BECAME QUIETER AFTER THE RECENT RECOVERY - BRS
There were substantial losses across the board this week: the BDI lost 6.3% to end at 2,018 and the BCI 8.2% to end 3,274. In the smaller sizes the ...
Tuesday, 01 November 11
BORNEO LUMBUNG BUYS 23.8% INTEREST IN BUMI
COALspot.com - PT. Borneo Lumbung Energi (BORN), an Indonesian coking coal producer announces that it has signed a sale and purchase agreement, cond ...
Tuesday, 01 November 11
BAKRIE FORMS STRATEGIC PARTNERSHIP WITH BORNEO - REDUCING DEBT BY USD 1 BILLION
Press Release - Enhancing the standing of “Indonesia Inc.” at the London Stock Exchange PT Bakrie & Brothers Tbk (“BNBR” ...
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- Ministry of Mines - Canada
- Petrochimia International Co. Ltd.- Taiwan
- Bangladesh Power Developement Board
- Bhoruka Overseas - Indonesia
- Interocean Group of Companies - India
- Minerals Council of Australia
- Chamber of Mines of South Africa
- Karbindo Abesyapradhi - Indoneisa
- European Bulk Services B.V. - Netherlands
- Iligan Light & Power Inc, Philippines
- Georgia Ports Authority, United States
- Bhushan Steel Limited - India
- Thiess Contractors Indonesia
- IEA Clean Coal Centre - UK
- Aboitiz Power Corporation - Philippines
- Mjunction Services Limited - India
- TeaM Sual Corporation - Philippines
- Coal and Oil Company - UAE
- Meralco Power Generation, Philippines
- Parliament of New Zealand
- Kobexindo Tractors - Indoneisa
- Indogreen Group - Indonesia
- Star Paper Mills Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Siam City Cement - Thailand
- South Luzon Thermal Energy Corporation
- Cigading International Bulk Terminal - Indonesia
- Indika Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Edison Trading Spa - Italy
- Jorong Barutama Greston.PT - Indonesia
- Bharathi Cement Corporation - India
- Kalimantan Lumbung Energi - Indonesia
- GVK Power & Infra Limited - India
- Krishnapatnam Port Company Ltd. - India
- Globalindo Alam Lestari - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Therma Luzon, Inc, Philippines
- Rio Tinto Coal - Australia
- Wood Mackenzie - Singapore
- Makarim & Taira - Indonesia
- Australian Commodity Traders Exchange
- Tata Chemicals Ltd - India
- Africa Commodities Group - South Africa
- Dalmia Cement Bharat India
- India Bulls Power Limited - India
- Petron Corporation, Philippines
- Heidelberg Cement - Germany
- Miang Besar Coal Terminal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Leighton Contractors Pty Ltd - Australia
- Salva Resources Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- SMG Consultants - Indonesia
- The State Trading Corporation of India Ltd
- Meenaskhi Energy Private Limited - India
- Asmin Koalindo Tuhup - Indonesia
- The University of Queensland
- Parry Sugars Refinery, India
- Directorate General of MIneral and Coal - Indonesia
- Kumho Petrochemical, South Korea
- Indonesian Coal Mining Association
- London Commodity Brokers - England
- Jindal Steel & Power Ltd - India
- Larsen & Toubro Limited - India
- Electricity Generating Authority of Thailand
- Global Green Power PLC Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Pendopo Energi Batubara - Indonesia
- Videocon Industries ltd - India
- CIMB Investment Bank - Malaysia
- Posco Energy - South Korea
- GN Power Mariveles Coal Plant, Philippines
- Samtan Co., Ltd - South Korea
- PNOC Exploration Corporation - Philippines
- Indian Oil Corporation Limited
- Gujarat Electricity Regulatory Commission - India
- Economic Council, Georgia
- IHS Mccloskey Coal Group - USA
- Central Electricity Authority - India
- Sinarmas Energy and Mining - Indonesia
- Medco Energi Mining Internasional
- Merrill Lynch Commodities Europe
- TNB Fuel Sdn Bhd - Malaysia
- MS Steel International - UAE
- Grasim Industreis Ltd - India
- CNBM International Corporation - China
- Marubeni Corporation - India
- Attock Cement Pakistan Limited
- The Treasury - Australian Government
- Indo Tambangraya Megah - Indonesia
- Anglo American - United Kingdom
- Kartika Selabumi Mining - Indonesia
- Trasteel International SA, Italy
- Kideco Jaya Agung - Indonesia
- OPG Power Generation Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Borneo Indobara - Indonesia
- Sojitz Corporation - Japan
- Sarangani Energy Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Orica Australia Pty. Ltd.
- Essar Steel Hazira Ltd - India
- Baramulti Group, Indonesia
- Uttam Galva Steels Limited - India
- Power Finance Corporation Ltd., India
- ICICI Bank Limited - India
- Cement Manufacturers Association - India
- Standard Chartered Bank - UAE
- Rashtriya Ispat Nigam Limited - India
- Ministry of Finance - Indonesia
- Indian Energy Exchange, India
- Timah Investasi Mineral - Indoneisa
- Intertek Mineral Services - Indonesia
- Tamil Nadu electricity Board
- ASAPP Information Group - India
- Eastern Coal Council - USA
- Formosa Plastics Group - Taiwan
- Vizag Seaport Private Limited - India
- Riau Bara Harum - Indonesia
- McConnell Dowell - Australia
- Karaikal Port Pvt Ltd - India
- PTC India Limited - India
- Oldendorff Carriers - Singapore
- Madhucon Powers Ltd - India
- Sical Logistics Limited - India
- Bukit Makmur.PT - Indonesia
- Barasentosa Lestari - Indonesia
- Coastal Gujarat Power Limited - India
- Bulk Trading Sa - Switzerland
- Kapuas Tunggal Persada - Indonesia
- Independent Power Producers Association of India
- Simpson Spence & Young - Indonesia
- San Jose City I Power Corp, Philippines
- LBH Netherlands Bv - Netherlands
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ceylon Electricity Board - Sri Lanka
- Bahari Cakrawala Sebuku - Indonesia
- Wilmar Investment Holdings
- PetroVietnam Power Coal Import and Supply Company
- Deloitte Consulting - India
- New Zealand Coal & Carbon
- Maheswari Brothers Coal Limited - India
- Port Waratah Coal Services - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Siam City Cement PLC, Thailand
- Alfred C Toepfer International GmbH - Germany
- Agrawal Coal Company - India
- Xindia Steels Limited - India
- Bhatia International Limited - India
- VISA Power Limited - India
- Toyota Tsusho Corporation, Japan
- Banpu Public Company Limited - Thailand
- Central Java Power - Indonesia
- Semirara Mining Corp, Philippines
- Savvy Resources Ltd - HongKong
- Holcim Trading Pte Ltd - Singapore
- Gujarat Sidhee Cement - India
- Global Business Power Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Chettinad Cement Corporation Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Aditya Birla Group - India
- Kepco SPC Power Corporation, Philippines
- SMC Global Power, Philippines
- Electricity Authority, New Zealand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- SN Aboitiz Power Inc, Philippines
- Orica Mining Services - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Antam Resourcindo - Indonesia
- Sakthi Sugars Limited - India
- Kaltim Prima Coal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Energy Development Corp, Philippines
- Coalindo Energy - Indonesia
- Energy Link Ltd, New Zealand
- Bayan Resources Tbk. - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Sree Jayajothi Cements Limited - India
- International Coal Ventures Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- AsiaOL BioFuels Corp., Philippines
- Malabar Cements Ltd - India
- Ambuja Cements Ltd - India
- Renaissance Capital - South Africa
- PowerSource Philippines DevCo
- Commonwealth Bank - Australia
- Mercuria Energy - Indonesia
- Ministry of Transport, Egypt
- Australian Coal Association
- Romanian Commodities Exchange
- GMR Energy Limited - India
- White Energy Company Limited
- Carbofer General Trading SA - India
- Thai Mozambique Logistica
- Latin American Coal - Colombia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Global Coal Blending Company Limited - Australia
- Eastern Energy - Thailand
- Singapore Mercantile Exchange
- Lanco Infratech Ltd - India
- Mintek Dendrill Indonesia
- Vedanta Resources Plc - India
- Goldman Sachs - Singapore
- Metalloyd Limited - United Kingdom
- Gujarat Mineral Development Corp Ltd - India
- Straits Asia Resources Limited - Singapore
- Planning Commission, India
- Sindya Power Generating Company Private Ltd
- Semirara Mining and Power Corporation, Philippines
- Mercator Lines Limited - India
- GAC Shipping (India) Pvt Ltd
- Bukit Baiduri Energy - Indonesia
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