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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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Monday, 24 October 11
CAPESIZE RENTAL RATES RISE FOR THIRD DAY AS MORE SHIPS HIRED - HELLENIC SHIPPING
Rates to hire capesize vessels advanced for a third day on signs of increased demand to transport iron ore, used to make steel.Daily rates for the s ...
Sunday, 23 October 11
CHINA LOOKING TO RESELL INDONESIAN COAL CARGOES - BARCLAYS
Commodity Online reported that, Anecdotal evidence has suggested that China is even looking to resell Indonesian cargoes back into the seaborne coal ...
Saturday, 22 October 11
THE SHORT-PERIOD RATES FOR PANAMAX REMAINED FIRM - CAPT. REDDY
COALspot.com - "The market seemed to slow down a bit this week, and all sectors were down by about One to five percent", said Capt. Reddy, ...
Saturday, 22 October 11
WILL THE PROPOSED 26 PERCENT PROFIT SHARING CLAUSE IN THE MINING BILL SPEED UP THE PRODUCTION OR SCARE AWAY INVESTORS? - DIPESH DIPU
A draft law has been approved by a ministerial panel headed by Finance Minister Pranab Mukherjee of India which, if passed by the Cabinet, will make ...
Saturday, 22 October 11
INDONESIA'S GOLDEN ENERGY SLASHES ITS IPO PRICE - THE JAKARTA GLOBE
The Jakarta Globe reported that, Golden Energy Mines, a coal mining company affiliated with Sinar Mas Group, lowered its target in an initial public ...
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- TNB Fuel Sdn Bhd - Malaysia
- Posco Energy - South Korea
- Australian Commodity Traders Exchange
- Planning Commission, India
- Indonesian Coal Mining Association
- Sical Logistics Limited - India
- European Bulk Services B.V. - Netherlands
- Kepco SPC Power Corporation, Philippines
- Interocean Group of Companies - India
- Uttam Galva Steels Limited - India
- ASAPP Information Group - India
- Intertek Mineral Services - Indonesia
- Renaissance Capital - South Africa
- Therma Luzon, Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Karaikal Port Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Edison Trading Spa - Italy
- Simpson Spence & Young - Indonesia
- Aboitiz Power Corporation - Philippines
- Attock Cement Pakistan Limited
- Ambuja Cements Ltd - India
- Iligan Light & Power Inc, Philippines
- Orica Mining Services - Indonesia
- Essar Steel Hazira Ltd - India
- Indian Oil Corporation Limited
- Sree Jayajothi Cements Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Bhoruka Overseas - Indonesia
- Merrill Lynch Commodities Europe
- GVK Power & Infra Limited - India
- Sojitz Corporation - Japan
- Xindia Steels Limited - India
- Minerals Council of Australia
- Latin American Coal - Colombia
- Romanian Commodities Exchange
- Port Waratah Coal Services - Australia
- Eastern Energy - Thailand
- Aditya Birla Group - India
- Malabar Cements Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Coalindo Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Sindya Power Generating Company Private Ltd
- Gujarat Sidhee Cement - India
- Kobexindo Tractors - Indoneisa
- Agrawal Coal Company - India
- Meenaskhi Energy Private Limited - India
- The University of Queensland
- Barasentosa Lestari - Indonesia
- The State Trading Corporation of India Ltd
- Straits Asia Resources Limited - Singapore
- SMC Global Power, Philippines
- Siam City Cement PLC, Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sinarmas Energy and Mining - Indonesia
- LBH Netherlands Bv - Netherlands
- Metalloyd Limited - United Kingdom
- Power Finance Corporation Ltd., India
- Rio Tinto Coal - Australia
- Tata Chemicals Ltd - India
- Coal and Oil Company - UAE
- Central Electricity Authority - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Vedanta Resources Plc - India
- Cement Manufacturers Association - India
- Bukit Makmur.PT - Indonesia
- Mercator Lines Limited - India
- Jindal Steel & Power Ltd - India
- Heidelberg Cement - Germany
- Independent Power Producers Association of India
- Global Coal Blending Company Limited - Australia
- Georgia Ports Authority, United States
- Africa Commodities Group - South Africa
- New Zealand Coal & Carbon
- Ministry of Mines - Canada
- Ministry of Transport, Egypt
- Mintek Dendrill Indonesia
- CNBM International Corporation - China
- Sarangani Energy Corporation, Philippines
- Standard Chartered Bank - UAE
- Samtan Co., Ltd - South Korea
- Rashtriya Ispat Nigam Limited - India
- Meralco Power Generation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Ministry of Finance - Indonesia
- Medco Energi Mining Internasional
- Bhatia International Limited - India
- Mercuria Energy - Indonesia
- CIMB Investment Bank - Malaysia
- Global Green Power PLC Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- White Energy Company Limited
- GMR Energy Limited - India
- IHS Mccloskey Coal Group - USA
- Maheswari Brothers Coal Limited - India
- Globalindo Alam Lestari - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Riau Bara Harum - Indonesia
- Directorate Of Revenue Intelligence - India
- Star Paper Mills Limited - India
- SMG Consultants - Indonesia
- Grasim Industreis Ltd - India
- Mjunction Services Limited - India
- Singapore Mercantile Exchange
- Holcim Trading Pte Ltd - Singapore
- Parry Sugars Refinery, India
- Leighton Contractors Pty Ltd - Australia
- Formosa Plastics Group - Taiwan
- Economic Council, Georgia
- McConnell Dowell - Australia
- Asmin Koalindo Tuhup - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Bhushan Steel Limited - India
- Borneo Indobara - Indonesia
- Chettinad Cement Corporation Ltd - India
- Indogreen Group - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Energy Link Ltd, New Zealand
- Karbindo Abesyapradhi - Indoneisa
- Jorong Barutama Greston.PT - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- MS Steel International - UAE
- Videocon Industries ltd - India
- Central Java Power - Indonesia
- Carbofer General Trading SA - India
- Oldendorff Carriers - Singapore
- Kartika Selabumi Mining - Indonesia
- Tamil Nadu electricity Board
- Timah Investasi Mineral - Indoneisa
- Alfred C Toepfer International GmbH - Germany
- Ind-Barath Power Infra Limited - India
- Parliament of New Zealand
- IEA Clean Coal Centre - UK
- Semirara Mining Corp, Philippines
- Kideco Jaya Agung - Indonesia
- Salva Resources Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Coastal Gujarat Power Limited - India
- Wilmar Investment Holdings
- Orica Australia Pty. Ltd.
- Neyveli Lignite Corporation Ltd, - India
- Indo Tambangraya Megah - Indonesia
- Chamber of Mines of South Africa
- Kapuas Tunggal Persada - Indonesia
- Binh Thuan Hamico - Vietnam
- Deloitte Consulting - India
- Bahari Cakrawala Sebuku - Indonesia
- Larsen & Toubro Limited - India
- Lanco Infratech Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bharathi Cement Corporation - India
- India Bulls Power Limited - India
- Electricity Generating Authority of Thailand
- Jaiprakash Power Ventures ltd
- Thiess Contractors Indonesia
- SN Aboitiz Power Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Antam Resourcindo - Indonesia
- The Treasury - Australian Government
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indika Energy - Indonesia
- Thai Mozambique Logistica
- Petron Corporation, Philippines
- London Commodity Brokers - England
- Kumho Petrochemical, South Korea
- San Jose City I Power Corp, Philippines
- Commonwealth Bank - Australia
- Bangladesh Power Developement Board
- GAC Shipping (India) Pvt Ltd
- South Luzon Thermal Energy Corporation
- Goldman Sachs - Singapore
- Krishnapatnam Port Company Ltd. - India
- Baramulti Group, Indonesia
- Australian Coal Association
- PTC India Limited - India
- Marubeni Corporation - India
- GN Power Mariveles Coal Plant, Philippines
- Trasteel International SA, Italy
- Global Business Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Anglo American - United Kingdom
- Energy Development Corp, Philippines
- OPG Power Generation Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Madhucon Powers Ltd - India
- Bulk Trading Sa - Switzerland
- Vizag Seaport Private Limited - India
- TeaM Sual Corporation - Philippines
- PowerSource Philippines DevCo
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- ICICI Bank Limited - India
- Dalmia Cement Bharat India
- Makarim & Taira - Indonesia
- Electricity Authority, New Zealand
- VISA Power Limited - India
- Indian Energy Exchange, India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Billiton Holdings Pty Ltd - Australia
- International Coal Ventures Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Wood Mackenzie - Singapore
- Ceylon Electricity Board - Sri Lanka
- Bukit Baiduri Energy - Indonesia
- Sakthi Sugars Limited - India
- Pendopo Energi Batubara - Indonesia
- Altura Mining Limited, Indonesia
- Siam City Cement - Thailand
- PNOC Exploration Corporation - Philippines
- Eastern Coal Council - USA
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