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Monday, 26 December 11
NEW EXPORT TAX PLAN GREETED WITH PRAISE AND CRITICISM - THE JAKARTA POST
 The Jakarta Post, one of the Indonesia's leading english news paper reported that, both praise and criticism showered the government’s plan to tax the export of minerals and base metals starting next year.
Economists say such an initiative is a testament to the government’s long-term economic vision, in which local manufacturers are encouraged to add value to commodities, as well as contributing to national energy security.
For local miners, on the other hand, the upcoming export tax would be an additional burden that could affect their financial performance amid global economic uncertainties that could jeopardize future expansion plans.
Arif Hadianto, a spokesperson for Indonesia’s fifth largest coal miner, PT Berau Coal Energy, said coal producers already paid 13.5 percent of their total sales as royalties to the government, on top of the income and value-added taxes.
“A new tax would automatically be a burden. The government must take into account that coal producers have an obligation to meet domestic demand,” Arif said on Sunday.
Separately, Resource Alam Indonesia head of investor relations Erif Tirtana said small- and medium-sized companies would be hurt most by the tax plan. “The export tax will be a double tax, as we are already paying royalties. I just hope that the ministry will consider our grievances,” he said.
PT Antam corporate secretary Bimo Budi Satriyo said that the export tax would reduce his company’s profits. Bimo said that Antam, which exports nickel to China, Korea, and Europe, had to give 5 percent off its sales prices per ton of high calorie (garnierite) nickel ore and 4 percent for every ton of low-calorie (limonite) nickel ore in royalty fees.
“We still don’t know what the regulation will look like. As long as the government considers the royalty we are already paying. It will be okay.”
Association of Indonesian Mining Professional chairman Irwandi Arif said that the government should calculate the amount of export tax to help companies maintain their profits. He said, the tax should be re-distributed to develop industry in the country.
“The export tax should be used to provide incentives in development of coal-powered power plants, for example, in Mulut Tambang [in Tanjung Enim, South Sumatra]. It would be troublesome if the government fails to synchronize the use of the tax,” Irwandi said.
The tax plan was first introduced last week by Industry Minister Mohamad S. Hidayat, who said that the ministry was preparing the export tax on mineral products to encourage the development of derivatives products from minerals and base metals by local industries.
Hidayat said the regulation was poised to be implemented in the first half of 2012, pending approval from the Finance Ministry.
“The growth of the downstream industry will create jobs, add value to our products and reduce dependence on imports,” said Hidayat. He promised that investors who invested in downstream industries would be given tax holidays.
The planned export tax is in line with the ongoing process carried out by the Energy and Mineral Resources Ministry, which is drafting a regulation that will ban exports of raw mining products beginning in 2014. Prohibiting exports of raw mining product is a part of the government’s commitment to fully implement the 2009 Mineral and Coal Law, requiring miners to process coal and mineral into added-value products before exporting them.
Mining expert Kurtubi said that the government’s move to impose export taxes on non-renewable coal and base metals was “logical” as other commodity-based industries were already paying more.
“State revenue from coal and general mining is very little. Corporate tax for general mining sector is about 35 to 40 percent, while the royalty as stated in the contract of work is only about 1 percent.”
Source: The Jakarta Post
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Wednesday, 11 January 12
NEWBUILDING ORDERS DECLINE, AS SHIP OWNERS REALIZE OVERSUPPLY WILL "KILL" THEM - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With 2012 now underway, it will be rather interesting to see how ship owners will play the "newbuilding ordering" card to their favor, as ...
Tuesday, 10 January 12
THE 4TH DEEPWATER ASIA CONGRESS 2012 WILL KICK OFF ON MAY 23 - 25
Press release - Based on the past three years’ success, SZ & W Group is excited to announce the 4th Deepwater Asia Congress will be held o ...
Monday, 09 January 12
2012: WHAT WILL IT BRING FOR THE DRY BULK MARKET? - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
A further increase in dry bulk demand could be the remedy for most of the industry's oversupply issues, together of course with the high level of s ...
Sunday, 08 January 12
ICICI OUTLOOK ON INDIAN POWER, MINING,CEMENT, AND SHIPPING SECTORS PERFORMANCE IN 2012
Broking firm, ICICIdirect (India) has come out with report on sectors outlook for 2012. IRIS has collated key highlights for each sector from ...
Sunday, 08 January 12
SUPRAMAX DELIVERY SOUTH CHINA FOR TRIPS VIA INDONESIA WERE REPORTED AROUND $ 7000 PER DAY - VISTAAR
Wish You a Very Happy and Prosperous New year 2012.
COALspot.com - The last report by us was on 16th Dec 2011 and because of holidays this would ...
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- Bank of Tokyo Mitsubishi UFJ Ltd
- Electricity Generating Authority of Thailand
- ICICI Bank Limited - India
- Parry Sugars Refinery, India
- London Commodity Brokers - England
- Standard Chartered Bank - UAE
- Kideco Jaya Agung - Indonesia
- Oldendorff Carriers - Singapore
- Goldman Sachs - Singapore
- GVK Power & Infra Limited - India
- Krishnapatnam Port Company Ltd. - India
- Georgia Ports Authority, United States
- Kohat Cement Company Ltd. - Pakistan
- Maharashtra Electricity Regulatory Commission - India
- Jaiprakash Power Ventures ltd
- Commonwealth Bank - Australia
- Alfred C Toepfer International GmbH - Germany
- Semirara Mining and Power Corporation, Philippines
- Attock Cement Pakistan Limited
- Ministry of Mines - Canada
- Gujarat Electricity Regulatory Commission - India
- Bhushan Steel Limited - India
- Mercator Lines Limited - India
- Formosa Plastics Group - Taiwan
- Planning Commission, India
- Meralco Power Generation, Philippines
- Latin American Coal - Colombia
- Bahari Cakrawala Sebuku - Indonesia
- Timah Investasi Mineral - Indoneisa
- Gujarat Sidhee Cement - India
- Dalmia Cement Bharat India
- Global Coal Blending Company Limited - Australia
- Kobexindo Tractors - Indoneisa
- Kaltim Prima Coal - Indonesia
- Parliament of New Zealand
- Coastal Gujarat Power Limited - India
- Coal and Oil Company - UAE
- Kalimantan Lumbung Energi - Indonesia
- Star Paper Mills Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Global Business Power Corporation, Philippines
- The Treasury - Australian Government
- Billiton Holdings Pty Ltd - Australia
- Binh Thuan Hamico - Vietnam
- Sindya Power Generating Company Private Ltd
- Indogreen Group - Indonesia
- Singapore Mercantile Exchange
- LBH Netherlands Bv - Netherlands
- Trasteel International SA, Italy
- Bukit Baiduri Energy - Indonesia
- Agrawal Coal Company - India
- ASAPP Information Group - India
- Xindia Steels Limited - India
- Wood Mackenzie - Singapore
- Sree Jayajothi Cements Limited - India
- GMR Energy Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Petron Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Minerals Council of Australia
- Interocean Group of Companies - India
- IHS Mccloskey Coal Group - USA
- Sical Logistics Limited - India
- Medco Energi Mining Internasional
- Wilmar Investment Holdings
- Posco Energy - South Korea
- SMG Consultants - Indonesia
- Metalloyd Limited - United Kingdom
- Eastern Coal Council - USA
- The University of Queensland
- Energy Link Ltd, New Zealand
- McConnell Dowell - Australia
- Iligan Light & Power Inc, Philippines
- Intertek Mineral Services - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Altura Mining Limited, Indonesia
- Chettinad Cement Corporation Ltd - India
- Lanco Infratech Ltd - India
- Bhatia International Limited - India
- Uttam Galva Steels Limited - India
- India Bulls Power Limited - India
- Cement Manufacturers Association - India
- Directorate General of MIneral and Coal - Indonesia
- Sarangani Energy Corporation, Philippines
- SMC Global Power, Philippines
- Neyveli Lignite Corporation Ltd, - India
- SN Aboitiz Power Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Sakthi Sugars Limited - India
- San Jose City I Power Corp, Philippines
- Rio Tinto Coal - Australia
- Orica Mining Services - Indonesia
- Maheswari Brothers Coal Limited - India
- IEA Clean Coal Centre - UK
- Economic Council, Georgia
- Miang Besar Coal Terminal - Indonesia
- Riau Bara Harum - Indonesia
- Thai Mozambique Logistica
- TeaM Sual Corporation - Philippines
- Therma Luzon, Inc, Philippines
- European Bulk Services B.V. - Netherlands
- Essar Steel Hazira Ltd - India
- Pendopo Energi Batubara - Indonesia
- Barasentosa Lestari - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Kartika Selabumi Mining - Indonesia
- Jindal Steel & Power Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Indian Energy Exchange, India
- Mintek Dendrill Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Romanian Commodities Exchange
- Independent Power Producers Association of India
- Thiess Contractors Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- PTC India Limited - India
- Videocon Industries ltd - India
- Toyota Tsusho Corporation, Japan
- The State Trading Corporation of India Ltd
- MS Steel International - UAE
- Gujarat Mineral Development Corp Ltd - India
- Indian Oil Corporation Limited
- Marubeni Corporation - India
- Carbofer General Trading SA - India
- Makarim & Taira - Indonesia
- Bhoruka Overseas - Indonesia
- Antam Resourcindo - Indonesia
- Mercuria Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- CNBM International Corporation - China
- Ind-Barath Power Infra Limited - India
- Tata Chemicals Ltd - India
- Orica Australia Pty. Ltd.
- New Zealand Coal & Carbon
- Salva Resources Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Electricity Authority, New Zealand
- Meenaskhi Energy Private Limited - India
- Bulk Trading Sa - Switzerland
- Siam City Cement PLC, Thailand
- South Luzon Thermal Energy Corporation
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Directorate Of Revenue Intelligence - India
- Port Waratah Coal Services - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Madhucon Powers Ltd - India
- Australian Coal Association
- Bharathi Cement Corporation - India
- Savvy Resources Ltd - HongKong
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Tamil Nadu electricity Board
- Vedanta Resources Plc - India
- Price Waterhouse Coopers - Russia
- Borneo Indobara - Indonesia
- Central Java Power - Indonesia
- Ministry of Transport, Egypt
- VISA Power Limited - India
- Anglo American - United Kingdom
- Ministry of Finance - Indonesia
- Africa Commodities Group - South Africa
- Mjunction Services Limited - India
- Kumho Petrochemical, South Korea
- Aboitiz Power Corporation - Philippines
- Power Finance Corporation Ltd., India
- Bangladesh Power Developement Board
- Straits Asia Resources Limited - Singapore
- Sinarmas Energy and Mining - Indonesia
- Indonesian Coal Mining Association
- Heidelberg Cement - Germany
- Malabar Cements Ltd - India
- Simpson Spence & Young - Indonesia
- Indika Energy - Indonesia
- Central Electricity Authority - India
- Globalindo Alam Lestari - Indonesia
- Larsen & Toubro Limited - India
- Chamber of Mines of South Africa
- Aditya Birla Group - India
- Merrill Lynch Commodities Europe
- Semirara Mining Corp, Philippines
- Deloitte Consulting - India
- Coalindo Energy - Indonesia
- Siam City Cement - Thailand
- Kepco SPC Power Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Australian Commodity Traders Exchange
- White Energy Company Limited
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ambuja Cements Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Edison Trading Spa - Italy
- TNB Fuel Sdn Bhd - Malaysia
- Samtan Co., Ltd - South Korea
- PNOC Exploration Corporation - Philippines
- Ceylon Electricity Board - Sri Lanka
- International Coal Ventures Pvt Ltd - India
- Energy Development Corp, Philippines
- Baramulti Group, Indonesia
- Global Green Power PLC Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- GAC Shipping (India) Pvt Ltd
- Renaissance Capital - South Africa
- CIMB Investment Bank - Malaysia
- Karaikal Port Pvt Ltd - India
- PowerSource Philippines DevCo
- Grasim Industreis Ltd - India
- OPG Power Generation Pvt Ltd - India
- Eastern Energy - Thailand
- Bukit Makmur.PT - Indonesia
- Banpu Public Company Limited - Thailand
- Vizag Seaport Private Limited - India
- Sojitz Corporation - Japan
- Manunggal Multi Energi - Indonesia
- Cigading International Bulk Terminal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
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