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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, 20 October 11
CAPESIZE - TUBARAO /QINGDAO BEING FIXED AT STRONG US$ 29.75 PMT
Handy
The Atlantic market is quite steady, and market seems to be around the same levels as last week. Fewer fixtures reported though. ...
Thursday, 20 October 11
BRACKEN INTERNATIONAL MINING LISTS ON FRANKFURT STOCK EXCHANGE
Press Release - Bracken International Mining (Code:1BM) listed on the Deutsche Börse’s Frankfurt Stock Exchange today at €1.00 with ...
Thursday, 20 October 11
CAPESIZES, SUPRAMAXES LEAD GAINS FOR DRY BULK MARKET - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Struggling to find additional support, but still managing to post gains, the dry bulk market has stabilized itself on higher levels again yesterday, ...
Wednesday, 19 October 11
METALLURGICAL COAL PRICES TO DROP BELOW US$240/TONNE - WOOD MACKENZIE
Wood Mackenzie Says Metallurgical Coal Prices to Drop Below US$240/tonne by Q4 2012 But Long-term Demand Fundamentals Remain Robust
Wood Mackenzi ...
Wednesday, 19 October 11
SUPRAMAX MARKET WAS VERY FIRM LAST WEEK - BRS
With all sectors contributing positively, the BDI ended the week at 2,173 points (+8.6%), its highest level so far in 2011. The BCI stood at 3,587 ( ...
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- Riau Bara Harum - Indonesia
- Carbofer General Trading SA - India
- Bhatia International Limited - India
- Chamber of Mines of South Africa
- Siam City Cement - Thailand
- ASAPP Information Group - India
- GVK Power & Infra Limited - India
- Global Coal Blending Company Limited - Australia
- Independent Power Producers Association of India
- Semirara Mining and Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Straits Asia Resources Limited - Singapore
- McConnell Dowell - Australia
- Planning Commission, India
- SMC Global Power, Philippines
- Price Waterhouse Coopers - Russia
- SN Aboitiz Power Inc, Philippines
- Tamil Nadu electricity Board
- Larsen & Toubro Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- European Bulk Services B.V. - Netherlands
- Energy Link Ltd, New Zealand
- Heidelberg Cement - Germany
- Vijayanagar Sugar Pvt Ltd - India
- Indian Oil Corporation Limited
- Cement Manufacturers Association - India
- White Energy Company Limited
- Bank of Tokyo Mitsubishi UFJ Ltd
- Iligan Light & Power Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Romanian Commodities Exchange
- Offshore Bulk Terminal Pte Ltd, Singapore
- Oldendorff Carriers - Singapore
- Merrill Lynch Commodities Europe
- Ministry of Transport, Egypt
- Grasim Industreis Ltd - India
- IEA Clean Coal Centre - UK
- Jaiprakash Power Ventures ltd
- Parliament of New Zealand
- Pendopo Energi Batubara - Indonesia
- PNOC Exploration Corporation - Philippines
- Krishnapatnam Port Company Ltd. - India
- Kumho Petrochemical, South Korea
- SMG Consultants - Indonesia
- Star Paper Mills Limited - India
- Malabar Cements Ltd - India
- PTC India Limited - India
- International Coal Ventures Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Vedanta Resources Plc - India
- Lanco Infratech Ltd - India
- Anglo American - United Kingdom
- Videocon Industries ltd - India
- Bhushan Steel Limited - India
- Marubeni Corporation - India
- Edison Trading Spa - Italy
- Bhoruka Overseas - Indonesia
- Mjunction Services Limited - India
- Indika Energy - Indonesia
- Deloitte Consulting - India
- Medco Energi Mining Internasional
- Dalmia Cement Bharat India
- Central Electricity Authority - India
- San Jose City I Power Corp, Philippines
- GAC Shipping (India) Pvt Ltd
- Economic Council, Georgia
- Aditya Birla Group - India
- Kohat Cement Company Ltd. - Pakistan
- Miang Besar Coal Terminal - Indonesia
- GMR Energy Limited - India
- Mercator Lines Limited - India
- Globalindo Alam Lestari - Indonesia
- Commonwealth Bank - Australia
- The Treasury - Australian Government
- Simpson Spence & Young - Indonesia
- Global Green Power PLC Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kobexindo Tractors - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- Orica Australia Pty. Ltd.
- IHS Mccloskey Coal Group - USA
- Aboitiz Power Corporation - Philippines
- Ambuja Cements Ltd - India
- Barasentosa Lestari - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Power Finance Corporation Ltd., India
- Ind-Barath Power Infra Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Global Business Power Corporation, Philippines
- Jindal Steel & Power Ltd - India
- MS Steel International - UAE
- GN Power Mariveles Coal Plant, Philippines
- Bulk Trading Sa - Switzerland
- Trasteel International SA, Italy
- Timah Investasi Mineral - Indoneisa
- Sakthi Sugars Limited - India
- Renaissance Capital - South Africa
- Samtan Co., Ltd - South Korea
- Bukit Asam (Persero) Tbk - Indonesia
- Electricity Generating Authority of Thailand
- Binh Thuan Hamico - Vietnam
- Gujarat Electricity Regulatory Commission - India
- Directorate General of MIneral and Coal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Banpu Public Company Limited - Thailand
- Baramulti Group, Indonesia
- VISA Power Limited - India
- New Zealand Coal & Carbon
- Intertek Mineral Services - Indonesia
- Semirara Mining Corp, Philippines
- Bangladesh Power Developement Board
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Metalloyd Limited - United Kingdom
- Posco Energy - South Korea
- Rio Tinto Coal - Australia
- South Luzon Thermal Energy Corporation
- Holcim Trading Pte Ltd - Singapore
- Attock Cement Pakistan Limited
- The University of Queensland
- Manunggal Multi Energi - Indonesia
- Antam Resourcindo - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Eastern Energy - Thailand
- CIMB Investment Bank - Malaysia
- TNB Fuel Sdn Bhd - Malaysia
- Bayan Resources Tbk. - Indonesia
- Kartika Selabumi Mining - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Coalindo Energy - Indonesia
- Minerals Council of Australia
- Bharathi Cement Corporation - India
- Electricity Authority, New Zealand
- Ministry of Finance - Indonesia
- TeaM Sual Corporation - Philippines
- Billiton Holdings Pty Ltd - Australia
- Alfred C Toepfer International GmbH - Germany
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Central Java Power - Indonesia
- Tata Chemicals Ltd - India
- Karaikal Port Pvt Ltd - India
- Parry Sugars Refinery, India
- Ministry of Mines - Canada
- Madhucon Powers Ltd - India
- Borneo Indobara - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Indo Tambangraya Megah - Indonesia
- Therma Luzon, Inc, Philippines
- Savvy Resources Ltd - HongKong
- Australian Commodity Traders Exchange
- PowerSource Philippines DevCo
- Chettinad Cement Corporation Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Indian Energy Exchange, India
- Meenaskhi Energy Private Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Port Waratah Coal Services - Australia
- LBH Netherlands Bv - Netherlands
- Petron Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Meralco Power Generation, Philippines
- Mintek Dendrill Indonesia
- Sarangani Energy Corporation, Philippines
- The State Trading Corporation of India Ltd
- Indogreen Group - Indonesia
- Kaltim Prima Coal - Indonesia
- Africa Commodities Group - South Africa
- Kideco Jaya Agung - Indonesia
- ICICI Bank Limited - India
- Bukit Makmur.PT - Indonesia
- CNBM International Corporation - China
- Rashtriya Ispat Nigam Limited - India
- Coal and Oil Company - UAE
- Australian Coal Association
- Bukit Baiduri Energy - Indonesia
- Orica Mining Services - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Mercuria Energy - Indonesia
- Siam City Cement PLC, Thailand
- PetroVietnam Power Coal Import and Supply Company
- Energy Development Corp, Philippines
- Wood Mackenzie - Singapore
- Altura Mining Limited, Indonesia
- Makarim & Taira - Indonesia
- London Commodity Brokers - England
- Vizag Seaport Private Limited - India
- Eastern Coal Council - USA
- Sical Logistics Limited - India
- Georgia Ports Authority, United States
- Singapore Mercantile Exchange
- Gujarat Mineral Development Corp Ltd - India
- Indonesian Coal Mining Association
- Sree Jayajothi Cements Limited - India
- Xindia Steels Limited - India
- Sojitz Corporation - Japan
- Ceylon Electricity Board - Sri Lanka
- Interocean Group of Companies - India
- Wilmar Investment Holdings
- Essar Steel Hazira Ltd - India
- Latin American Coal - Colombia
- Agrawal Coal Company - India
- Toyota Tsusho Corporation, Japan
- Formosa Plastics Group - Taiwan
- Thiess Contractors Indonesia
- Directorate Of Revenue Intelligence - India
- India Bulls Power Limited - India
- Uttam Galva Steels Limited - India
- Gujarat Sidhee Cement - India
- OPG Power Generation Pvt Ltd - India
- Thai Mozambique Logistica
- Goldman Sachs - Singapore
- Standard Chartered Bank - UAE
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