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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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Wednesday, 12 October 11
INDONESIAS COAL RUSH - JOSEPH KIRSCHKE
COALspot.com - Last winter, the Chinese government mobilized thousands of soldiers and reservists of the People’s Liberation Army to the port ...
Wednesday, 12 October 11
CAPESIZE - A SURPRISE JUMP IN RATES - BRS
There was a surge across all sizes last week, resulting in the BDI gaining 101 points to end the week at 2,000 points (+5.3%). The BCI reached 3,218 ...
Wednesday, 12 October 11
CAPESIZE FREIGHT RATES BOUND TO RETREAT FROM 2011 HIGHS ON THE BACK OF TONNAGE OVERSUPPLY SAYS BIMCO
According to Nikos Roussanoglou, Hellenic Shipping, with the BDI (Baltic Dry Index) breaking yet another 2011 high yesterday and ending the se ...
Tuesday, 11 October 11
GLENCORE, SUITOR FOR BUMI PLC? - INSIDER STORIES
Insider Stories reported that, the largest commodities trader in the world, Glencore International Plc, is considering an opportunity to acquire a m ...
Tuesday, 11 October 11
RENUKA COALINDO BUYS JAMBI COAL
PT Renuka Coalindo Tbk, formerly PT Allbond Makmur Usaha Tbk plans to acquire PT Jambi Prima Coal holder of mining concession in Pauh, Sa ...
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- Coalindo Energy - Indonesia
- Baramulti Group, Indonesia
- Malabar Cements Ltd - India
- Star Paper Mills Limited - India
- Manunggal Multi Energi - Indonesia
- CNBM International Corporation - China
- White Energy Company Limited
- Indian Energy Exchange, India
- Posco Energy - South Korea
- Banpu Public Company Limited - Thailand
- Binh Thuan Hamico - Vietnam
- Directorate Of Revenue Intelligence - India
- Global Business Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Central Electricity Authority - India
- Medco Energi Mining Internasional
- Lanco Infratech Ltd - India
- Intertek Mineral Services - Indonesia
- Larsen & Toubro Limited - India
- Price Waterhouse Coopers - Russia
- Singapore Mercantile Exchange
- Parliament of New Zealand
- Salva Resources Pvt Ltd - India
- Cement Manufacturers Association - India
- Antam Resourcindo - Indonesia
- GAC Shipping (India) Pvt Ltd
- PetroVietnam Power Coal Import and Supply Company
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Central Java Power - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Rio Tinto Coal - Australia
- IHS Mccloskey Coal Group - USA
- Sarangani Energy Corporation, Philippines
- Barasentosa Lestari - Indonesia
- London Commodity Brokers - England
- Australian Commodity Traders Exchange
- Bulk Trading Sa - Switzerland
- Jindal Steel & Power Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Aboitiz Power Corporation - Philippines
- Planning Commission, India
- Sakthi Sugars Limited - India
- Ambuja Cements Ltd - India
- Uttam Galva Steels Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Energy Link Ltd, New Zealand
- Vedanta Resources Plc - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Cigading International Bulk Terminal - Indonesia
- The State Trading Corporation of India Ltd
- Indonesian Coal Mining Association
- Bhushan Steel Limited - India
- Electricity Generating Authority of Thailand
- Siam City Cement - Thailand
- Bhatia International Limited - India
- Commonwealth Bank - Australia
- Samtan Co., Ltd - South Korea
- LBH Netherlands Bv - Netherlands
- Coal and Oil Company - UAE
- Makarim & Taira - Indonesia
- PowerSource Philippines DevCo
- ICICI Bank Limited - India
- GMR Energy Limited - India
- Energy Development Corp, Philippines
- Kaltim Prima Coal - Indonesia
- Anglo American - United Kingdom
- Oldendorff Carriers - Singapore
- Standard Chartered Bank - UAE
- Formosa Plastics Group - Taiwan
- Coastal Gujarat Power Limited - India
- Dalmia Cement Bharat India
- Renaissance Capital - South Africa
- CIMB Investment Bank - Malaysia
- Maharashtra Electricity Regulatory Commission - India
- Bukit Baiduri Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Attock Cement Pakistan Limited
- Neyveli Lignite Corporation Ltd, - India
- Jorong Barutama Greston.PT - Indonesia
- Thai Mozambique Logistica
- Pendopo Energi Batubara - Indonesia
- Indogreen Group - Indonesia
- Africa Commodities Group - South Africa
- Kepco SPC Power Corporation, Philippines
- VISA Power Limited - India
- Aditya Birla Group - India
- India Bulls Power Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Videocon Industries ltd - India
- McConnell Dowell - Australia
- Power Finance Corporation Ltd., India
- MS Steel International - UAE
- Kobexindo Tractors - Indoneisa
- Tata Chemicals Ltd - India
- PNOC Exploration Corporation - Philippines
- Kartika Selabumi Mining - Indonesia
- Altura Mining Limited, Indonesia
- AsiaOL BioFuels Corp., Philippines
- TeaM Sual Corporation - Philippines
- Ceylon Electricity Board - Sri Lanka
- South Luzon Thermal Energy Corporation
- Latin American Coal - Colombia
- Petron Corporation, Philippines
- Therma Luzon, Inc, Philippines
- The Treasury - Australian Government
- SN Aboitiz Power Inc, Philippines
- Goldman Sachs - Singapore
- PTC India Limited - India
- Sinarmas Energy and Mining - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Sindya Power Generating Company Private Ltd
- Asmin Koalindo Tuhup - Indonesia
- Mintek Dendrill Indonesia
- SMG Consultants - Indonesia
- Wood Mackenzie - Singapore
- Jaiprakash Power Ventures ltd
- Timah Investasi Mineral - Indoneisa
- Bayan Resources Tbk. - Indonesia
- Indian Oil Corporation Limited
- Deloitte Consulting - India
- Ind-Barath Power Infra Limited - India
- Georgia Ports Authority, United States
- Kumho Petrochemical, South Korea
- Bhoruka Overseas - Indonesia
- Electricity Authority, New Zealand
- Parry Sugars Refinery, India
- Semirara Mining Corp, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Miang Besar Coal Terminal - Indonesia
- Kideco Jaya Agung - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Simpson Spence & Young - Indonesia
- Australian Coal Association
- Bangladesh Power Developement Board
- Tamil Nadu electricity Board
- Thiess Contractors Indonesia
- Xindia Steels Limited - India
- Iligan Light & Power Inc, Philippines
- Mercator Lines Limited - India
- GVK Power & Infra Limited - India
- Meenaskhi Energy Private Limited - India
- Agrawal Coal Company - India
- Siam City Cement PLC, Thailand
- Toyota Tsusho Corporation, Japan
- Merrill Lynch Commodities Europe
- Port Waratah Coal Services - Australia
- Ministry of Transport, Egypt
- Globalindo Alam Lestari - Indonesia
- Karaikal Port Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Grasim Industreis Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Maheswari Brothers Coal Limited - India
- Mjunction Services Limited - India
- Vizag Seaport Private Limited - India
- OPG Power Generation Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Madhucon Powers Ltd - India
- Sree Jayajothi Cements Limited - India
- Carbofer General Trading SA - India
- Meralco Power Generation, Philippines
- Economic Council, Georgia
- Heidelberg Cement - Germany
- Leighton Contractors Pty Ltd - Australia
- SMC Global Power, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Sojitz Corporation - Japan
- Orica Australia Pty. Ltd.
- Holcim Trading Pte Ltd - Singapore
- IEA Clean Coal Centre - UK
- Directorate General of MIneral and Coal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Orica Mining Services - Indonesia
- Bharathi Cement Corporation - India
- Marubeni Corporation - India
- Bukit Asam (Persero) Tbk - Indonesia
- Borneo Indobara - Indonesia
- Interocean Group of Companies - India
- TNB Fuel Sdn Bhd - Malaysia
- New Zealand Coal & Carbon
- Eastern Coal Council - USA
- Minerals Council of Australia
- Sical Logistics Limited - India
- Romanian Commodities Exchange
- Trasteel International SA, Italy
- Chettinad Cement Corporation Ltd - India
- European Bulk Services B.V. - Netherlands
- The University of Queensland
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Savvy Resources Ltd - HongKong
- Semirara Mining and Power Corporation, Philippines
- Eastern Energy - Thailand
- Karbindo Abesyapradhi - Indoneisa
- Gujarat Sidhee Cement - India
- Independent Power Producers Association of India
- Mercuria Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Indika Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Edison Trading Spa - Italy
- Alfred C Toepfer International GmbH - Germany
- Chamber of Mines of South Africa
- Wilmar Investment Holdings
- Kalimantan Lumbung Energi - Indonesia
- Essar Steel Hazira Ltd - India
- Global Coal Blending Company Limited - Australia
- ASAPP Information Group - India
- Ministry of Mines - Canada
- Ministry of Finance - Indonesia
- Indo Tambangraya Megah - Indonesia
- Global Green Power PLC Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Bukit Makmur.PT - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Gujarat Mineral Development Corp Ltd - India
- Riau Bara Harum - Indonesia
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