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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, 23 September 11
UT TO PRODUCE 7 MMT OF COAL BY 2012
PT United Tractors Tbk is targeting a 7 million tons of coal production next year, a 55.55% increase from 4.5 millions targeted this year, said Pres ...
Friday, 23 September 11
RECORD RECYCLING ACTIVITY STIRS OPTIMISM IN DRY BULK SAYS BIMCOS ANALYSIS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
As expected at the start of the year, dry bulk ship owners were expected to flock scrapyards around the world, in order to take advantage of attract ...
Friday, 23 September 11
PANAMAX EXPERIENCED A SOFTENING IN RATES - FEARNLEYS AS
Handy
Still a good boost of fresh cargoes entering the market. Vessels in Black Sea with GOA clearance and Baltic positions are fetching tick abov ...
Wednesday, 21 September 11
INDIA'S COAL IMPORTS FROM INDONESIA FALL, CHINA BUYS MORE
COALspot.com - Indian coal imports from Indonesia fall to below 6 million tons in August, and this fall was continuing last few months. Ho ...
Wednesday, 21 September 11
2ND ANNUAL SHALE GAS SUMMIT
2nd Annual Shale Gas Summit 31 October – 3 November 2011 JW Marriott Hotel, Hong Kong
According to a recent EI ...
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- Thai Mozambique Logistica
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- Price Waterhouse Coopers - Russia
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- Aboitiz Power Corporation - Philippines
- Binh Thuan Hamico - Vietnam
- PowerSource Philippines DevCo
- SMG Consultants - Indonesia
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- Maharashtra Electricity Regulatory Commission - India
- Africa Commodities Group - South Africa
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- Truba Alam Manunggal Engineering.Tbk - Indonesia
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- Siam City Cement PLC, Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
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- Larsen & Toubro Limited - India
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- The University of Queensland
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- European Bulk Services B.V. - Netherlands
- Asmin Koalindo Tuhup - Indonesia
- Toyota Tsusho Corporation, Japan
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- Attock Cement Pakistan Limited
- Georgia Ports Authority, United States
- Directorate Of Revenue Intelligence - India
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- Australian Coal Association
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- Standard Chartered Bank - UAE
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- Gujarat Mineral Development Corp Ltd - India
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- Ministry of Mines - Canada
- Malabar Cements Ltd - India
- GMR Energy Limited - India
- Indo Tambangraya Megah - Indonesia
- Metalloyd Limited - United Kingdom
- Offshore Bulk Terminal Pte Ltd, Singapore
- McConnell Dowell - Australia
- IEA Clean Coal Centre - UK
- Romanian Commodities Exchange
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- Electricity Authority, New Zealand
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- Sojitz Corporation - Japan
- Timah Investasi Mineral - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- Global Coal Blending Company Limited - Australia
- Edison Trading Spa - Italy
- Dong Bac Coal Mineral Investment Coporation - Vietnam
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- Orica Australia Pty. Ltd.
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- Makarim & Taira - Indonesia
- Altura Mining Limited, Indonesia
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- Renaissance Capital - South Africa
- Barasentosa Lestari - Indonesia
- The Treasury - Australian Government
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- Australian Commodity Traders Exchange
- Orica Mining Services - Indonesia
- Electricity Generating Authority of Thailand
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- Pipit Mutiara Jaya. PT, Indonesia
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- Dalmia Cement Bharat India
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- International Coal Ventures Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Bharathi Cement Corporation - India
- Savvy Resources Ltd - HongKong
- Kaltim Prima Coal - Indonesia
- Sical Logistics Limited - India
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- Riau Bara Harum - Indonesia
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- Indian Oil Corporation Limited
- Economic Council, Georgia
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- Bhatia International Limited - India
- Ind-Barath Power Infra Limited - India
- CIMB Investment Bank - Malaysia
- ASAPP Information Group - India
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- Wood Mackenzie - Singapore
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- Coal and Oil Company - UAE
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- Port Waratah Coal Services - Australia
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- Eastern Coal Council - USA
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- Parliament of New Zealand
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- Baramulti Group, Indonesia
- Thiess Contractors Indonesia
- Merrill Lynch Commodities Europe
- SN Aboitiz Power Inc, Philippines
- Trasteel International SA, Italy
- Chettinad Cement Corporation Ltd - India
- IHS Mccloskey Coal Group - USA
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- London Commodity Brokers - England
- The State Trading Corporation of India Ltd
- GAC Shipping (India) Pvt Ltd
- LBH Netherlands Bv - Netherlands
- MS Steel International - UAE
- Wilmar Investment Holdings
- Rio Tinto Coal - Australia
- Indonesian Coal Mining Association
- Posco Energy - South Korea
- Singapore Mercantile Exchange
- Karbindo Abesyapradhi - Indoneisa
- Energy Link Ltd, New Zealand
- Heidelberg Cement - Germany
- Borneo Indobara - Indonesia
- Manunggal Multi Energi - Indonesia
- Chamber of Mines of South Africa
- Deloitte Consulting - India
- Ceylon Electricity Board - Sri Lanka
- Interocean Group of Companies - India
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- Mjunction Services Limited - India
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- Miang Besar Coal Terminal - Indonesia
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