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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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Friday, 30 September 11
INDIAN IRON ORE MARKET GETTING ACTIVE - FEARNLEYS AS
Handy
The Atlantic market continued its strong trend with fresh cargoes entering the market. Vessels open US Gulf fixed tick above US$ 27k back to t ...
Friday, 30 September 11
KRISHNAPATNAM PORT WINS GLOBAL PORT & COAL PORT OF THE YEAR AWARDS
COALspot.com - Krishnapatnam Port, a dynamic new generation world class port located in the East Coast of India has been adjudged the winner in the ...
Thursday, 29 September 11
INDONESIA'S MINERS FACE AN UNCERTAIN FUTURE - RUPERT WALKER
An evolving regulatory framework for the country's minerals industry could threaten its profitability and stifle investment.
The five-year surge ...
Thursday, 29 September 11
DRY BULK MARKET FALLS MID-WEEK, FURTHER DROP EXPECTED NEXT WEEK ON CHINA HOLIDAYS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market, as reflected by the Baltic Dry Index (BDI) retreated by 0.36% yesterday reaching 1,920 points, with the Capesize segment suffer ...
Wednesday, 28 September 11
ATLAS RESOURCES TO SELL 25% STAKE IN IPO - INSIDER STORIES
Insider Stories reported that, coal producer PT Atlas Resources Tbk, that is controlled by Indonesian businessman Andre Abdi, plans to sell 783.33 m ...
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- Latin American Coal - Colombia
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- Electricity Authority, New Zealand
- Thai Mozambique Logistica
- Parliament of New Zealand
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- Asmin Koalindo Tuhup - Indonesia
- MS Steel International - UAE
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- Billiton Holdings Pty Ltd - Australia
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- Australian Coal Association
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- Salva Resources Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Sojitz Corporation - Japan
- Edison Trading Spa - Italy
- Orica Australia Pty. Ltd.
- PTC India Limited - India
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- Semirara Mining Corp, Philippines
- SMC Global Power, Philippines
- Kalimantan Lumbung Energi - Indonesia
- McConnell Dowell - Australia
- IHS Mccloskey Coal Group - USA
- Therma Luzon, Inc, Philippines
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- Kobexindo Tractors - Indoneisa
- Rio Tinto Coal - Australia
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- Independent Power Producers Association of India
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- PNOC Exploration Corporation - Philippines
- Central Java Power - Indonesia
- Ministry of Finance - Indonesia
- The Treasury - Australian Government
- Georgia Ports Authority, United States
- Meenaskhi Energy Private Limited - India
- Global Coal Blending Company Limited - Australia
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- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Samtan Co., Ltd - South Korea
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- Holcim Trading Pte Ltd - Singapore
- European Bulk Services B.V. - Netherlands
- Kartika Selabumi Mining - Indonesia
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- Romanian Commodities Exchange
- Intertek Mineral Services - Indonesia
- Merrill Lynch Commodities Europe
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- Power Finance Corporation Ltd., India
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- Indonesian Coal Mining Association
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- Indian Energy Exchange, India
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- Aditya Birla Group - India
- Ambuja Cements Ltd - India
- Australian Commodity Traders Exchange
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- Alfred C Toepfer International GmbH - Germany
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- Interocean Group of Companies - India
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- Sindya Power Generating Company Private Ltd
- GVK Power & Infra Limited - India
- Wood Mackenzie - Singapore
- Kaltim Prima Coal - Indonesia
- Globalindo Alam Lestari - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Energy Link Ltd, New Zealand
- Grasim Industreis Ltd - India
- Bulk Trading Sa - Switzerland
- PetroVietnam Power Coal Import and Supply Company
- Siam City Cement - Thailand
- Bayan Resources Tbk. - Indonesia
- Planning Commission, India
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