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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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- Mjunction Services Limited - India
- GVK Power & Infra Limited - India
- Anglo American - United Kingdom
- Coastal Gujarat Power Limited - India
- Simpson Spence & Young - Indonesia
- Coalindo Energy - Indonesia
- Georgia Ports Authority, United States
- India Bulls Power Limited - India
- Goldman Sachs - Singapore
- Siam City Cement PLC, Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Mercator Lines Limited - India
- Coal and Oil Company - UAE
- Borneo Indobara - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Singapore Mercantile Exchange
- Larsen & Toubro Limited - India
- Essar Steel Hazira Ltd - India
- GAC Shipping (India) Pvt Ltd
- Madhucon Powers Ltd - India
- Bukit Baiduri Energy - Indonesia
- Australian Coal Association
- White Energy Company Limited
- Bhushan Steel Limited - India
- Meenaskhi Energy Private Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Altura Mining Limited, Indonesia
- Banpu Public Company Limited - Thailand
- Riau Bara Harum - Indonesia
- Central Electricity Authority - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PTC India Limited - India
- Sojitz Corporation - Japan
- Iligan Light & Power Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Edison Trading Spa - Italy
- Commonwealth Bank - Australia
- Trasteel International SA, Italy
- Bayan Resources Tbk. - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Oldendorff Carriers - Singapore
- Ministry of Mines - Canada
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Formosa Plastics Group - Taiwan
- Sindya Power Generating Company Private Ltd
- Videocon Industries ltd - India
- Siam City Cement - Thailand
- Xindia Steels Limited - India
- Africa Commodities Group - South Africa
- Asmin Koalindo Tuhup - Indonesia
- Manunggal Multi Energi - Indonesia
- Aditya Birla Group - India
- Krishnapatnam Port Company Ltd. - India
- Vijayanagar Sugar Pvt Ltd - India
- Dalmia Cement Bharat India
- Thai Mozambique Logistica
- GN Power Mariveles Coal Plant, Philippines
- Price Waterhouse Coopers - Russia
- Kaltim Prima Coal - Indonesia
- Chamber of Mines of South Africa
- Global Business Power Corporation, Philippines
- Eastern Energy - Thailand
- Baramulti Group, Indonesia
- Bulk Trading Sa - Switzerland
- Petron Corporation, Philippines
- Latin American Coal - Colombia
- Straits Asia Resources Limited - Singapore
- Sarangani Energy Corporation, Philippines
- Semirara Mining Corp, Philippines
- Indian Energy Exchange, India
- Makarim & Taira - Indonesia
- Kumho Petrochemical, South Korea
- Kobexindo Tractors - Indoneisa
- London Commodity Brokers - England
- Pendopo Energi Batubara - Indonesia
- Mintek Dendrill Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kohat Cement Company Ltd. - Pakistan
- Carbofer General Trading SA - India
- Metalloyd Limited - United Kingdom
- Uttam Galva Steels Limited - India
- SMG Consultants - Indonesia
- Timah Investasi Mineral - Indoneisa
- Bhatia International Limited - India
- Port Waratah Coal Services - Australia
- Ind-Barath Power Infra Limited - India
- Billiton Holdings Pty Ltd - Australia
- Agrawal Coal Company - India
- Antam Resourcindo - Indonesia
- New Zealand Coal & Carbon
- South Luzon Thermal Energy Corporation
- Eastern Coal Council - USA
- Standard Chartered Bank - UAE
- Bhoruka Overseas - Indonesia
- Tata Chemicals Ltd - India
- MS Steel International - UAE
- Sinarmas Energy and Mining - Indonesia
- Sakthi Sugars Limited - India
- Cigading International Bulk Terminal - Indonesia
- Kartika Selabumi Mining - Indonesia
- Parry Sugars Refinery, India
- Intertek Mineral Services - Indonesia
- Vedanta Resources Plc - India
- Jorong Barutama Greston.PT - Indonesia
- Indogreen Group - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Therma Luzon, Inc, Philippines
- Heidelberg Cement - Germany
- Ambuja Cements Ltd - India
- Lanco Infratech Ltd - India
- Attock Cement Pakistan Limited
- Globalindo Alam Lestari - Indonesia
- Wilmar Investment Holdings
- Sical Logistics Limited - India
- Central Java Power - Indonesia
- Ministry of Transport, Egypt
- Mercuria Energy - Indonesia
- Electricity Authority, New Zealand
- Holcim Trading Pte Ltd - Singapore
- The Treasury - Australian Government
- Toyota Tsusho Corporation, Japan
- Indian Oil Corporation Limited
- Gujarat Mineral Development Corp Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Bharathi Cement Corporation - India
- European Bulk Services B.V. - Netherlands
- Posco Energy - South Korea
- Tamil Nadu electricity Board
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Vizag Seaport Private Limited - India
- Orica Mining Services - Indonesia
- Rashtriya Ispat Nigam Limited - India
- VISA Power Limited - India
- Cement Manufacturers Association - India
- International Coal Ventures Pvt Ltd - India
- GMR Energy Limited - India
- Merrill Lynch Commodities Europe
- Maheswari Brothers Coal Limited - India
- Gujarat Electricity Regulatory Commission - India
- Karaikal Port Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Jindal Steel & Power Ltd - India
- ICICI Bank Limited - India
- Barasentosa Lestari - Indonesia
- Gujarat Sidhee Cement - India
- Directorate General of MIneral and Coal - Indonesia
- Global Coal Blending Company Limited - Australia
- OPG Power Generation Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Interocean Group of Companies - India
- CNBM International Corporation - China
- Offshore Bulk Terminal Pte Ltd, Singapore
- SN Aboitiz Power Inc, Philippines
- Marubeni Corporation - India
- Indonesian Coal Mining Association
- Romanian Commodities Exchange
- Parliament of New Zealand
- Grasim Industreis Ltd - India
- Directorate Of Revenue Intelligence - India
- LBH Netherlands Bv - Netherlands
- Ministry of Finance - Indonesia
- IHS Mccloskey Coal Group - USA
- TNB Fuel Sdn Bhd - Malaysia
- Bangladesh Power Developement Board
- Electricity Generating Authority of Thailand
- PowerSource Philippines DevCo
- Miang Besar Coal Terminal - Indonesia
- The University of Queensland
- Planning Commission, India
- Wood Mackenzie - Singapore
- Alfred C Toepfer International GmbH - Germany
- Economic Council, Georgia
- IEA Clean Coal Centre - UK
- SMC Global Power, Philippines
- Rio Tinto Coal - Australia
- Jaiprakash Power Ventures ltd
- Minerals Council of Australia
- McConnell Dowell - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Malabar Cements Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- PetroVietnam Power Coal Import and Supply Company
- Indika Energy - Indonesia
- Thiess Contractors Indonesia
- Sree Jayajothi Cements Limited - India
- Power Finance Corporation Ltd., India
- Aboitiz Power Corporation - Philippines
- Meralco Power Generation, Philippines
- Binh Thuan Hamico - Vietnam
- San Jose City I Power Corp, Philippines
- Kepco SPC Power Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- CIMB Investment Bank - Malaysia
- Medco Energi Mining Internasional
- Kalimantan Lumbung Energi - Indonesia
- Chettinad Cement Corporation Ltd - India
- Deloitte Consulting - India
- ASAPP Information Group - India
- TeaM Sual Corporation - Philippines
- The State Trading Corporation of India Ltd
- Australian Commodity Traders Exchange
- Global Green Power PLC Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Kapuas Tunggal Persada - Indonesia
- Kideco Jaya Agung - Indonesia
- Indo Tambangraya Megah - Indonesia
- Orica Australia Pty. Ltd.
- Salva Resources Pvt Ltd - India
- Renaissance Capital - South Africa
- Star Paper Mills Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Energy Development Corp, Philippines
- Independent Power Producers Association of India
- PNOC Exploration Corporation - Philippines
- Bukit Makmur.PT - Indonesia
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