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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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Monday, 12 December 11
DRY BULK MARKET LOOKING FOR BALANCE AS WE ENTER 2012 - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
During the past few months, freight rates for dry bulk carriers, especially Capesizes have increased significantly, providing ship owners with a muc ...
Sunday, 11 December 11
THE PANAMAX INDEX ENDED ON POSITIVE DIRECTION - VISTAAR
COALspot.com - The BDI and Cape index continued the upward trend this week also with BDI up by 3.00 pct closing at 1,922 points and Cape index up by ...
Saturday, 10 December 11
MAHAKAM RIVER RESUMES COAL TRANSPORTATION
COALspot.com - East Kalimantan local government has resumed limited coal barging through Mahakam River after two weeks of suspension following the c ...
Friday, 09 December 11
DRY BULK MARKET REBOUNDS ON HEALTHIER DEMAND OUTLOOK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market edged forward yesterday, at the highest rate of the past couple of weeks, as a result of stonger iron ore demand, backed by lowe ...
Thursday, 08 December 11
INDIA MAY SEE 41% ANNUAL GROWTH OF ITS COAL DEMAND DURING THE NEXT 5 YEARS - ICAP SHIPPING
India’s Ministry of Coal expects that India’s coal demand may face an annual 41% rise during the next 5 years, while its coal deficit is ...
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- Parry Sugars Refinery, India
- Singapore Mercantile Exchange
- Sinarmas Energy and Mining - Indonesia
- Heidelberg Cement - Germany
- VISA Power Limited - India
- Baramulti Group, Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Iligan Light & Power Inc, Philippines
- Electricity Generating Authority of Thailand
- Merrill Lynch Commodities Europe
- GVK Power & Infra Limited - India
- Global Green Power PLC Corporation, Philippines
- Standard Chartered Bank - UAE
- Bukit Asam (Persero) Tbk - Indonesia
- India Bulls Power Limited - India
- TeaM Sual Corporation - Philippines
- Uttam Galva Steels Limited - India
- Mjunction Services Limited - India
- Ceylon Electricity Board - Sri Lanka
- Ministry of Mines - Canada
- Maheswari Brothers Coal Limited - India
- Bharathi Cement Corporation - India
- Dalmia Cement Bharat India
- Meenaskhi Energy Private Limited - India
- Ind-Barath Power Infra Limited - India
- Indogreen Group - Indonesia
- Siam City Cement - Thailand
- Kobexindo Tractors - Indoneisa
- Bhoruka Overseas - Indonesia
- Kartika Selabumi Mining - Indonesia
- Meralco Power Generation, Philippines
- Star Paper Mills Limited - India
- Coastal Gujarat Power Limited - India
- Agrawal Coal Company - India
- TNB Fuel Sdn Bhd - Malaysia
- Ministry of Transport, Egypt
- Karbindo Abesyapradhi - Indoneisa
- Maharashtra Electricity Regulatory Commission - India
- SMG Consultants - Indonesia
- The State Trading Corporation of India Ltd
- Semirara Mining Corp, Philippines
- London Commodity Brokers - England
- International Coal Ventures Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- IEA Clean Coal Centre - UK
- Coalindo Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Therma Luzon, Inc, Philippines
- Sakthi Sugars Limited - India
- Electricity Authority, New Zealand
- LBH Netherlands Bv - Netherlands
- Energy Link Ltd, New Zealand
- Carbofer General Trading SA - India
- Chettinad Cement Corporation Ltd - India
- Siam City Cement PLC, Thailand
- PTC India Limited - India
- Mercator Lines Limited - India
- Intertek Mineral Services - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Bayan Resources Tbk. - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Central Java Power - Indonesia
- Edison Trading Spa - Italy
- Kideco Jaya Agung - Indonesia
- Salva Resources Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Deloitte Consulting - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Independent Power Producers Association of India
- Savvy Resources Ltd - HongKong
- Altura Mining Limited, Indonesia
- The Treasury - Australian Government
- Kaltim Prima Coal - Indonesia
- Economic Council, Georgia
- Neyveli Lignite Corporation Ltd, - India
- Simpson Spence & Young - Indonesia
- Larsen & Toubro Limited - India
- Barasentosa Lestari - Indonesia
- Thai Mozambique Logistica
- Wilmar Investment Holdings
- White Energy Company Limited
- Georgia Ports Authority, United States
- Kalimantan Lumbung Energi - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Orica Australia Pty. Ltd.
- Billiton Holdings Pty Ltd - Australia
- Romanian Commodities Exchange
- Trasteel International SA, Italy
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Indika Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Riau Bara Harum - Indonesia
- Samtan Co., Ltd - South Korea
- Australian Commodity Traders Exchange
- Straits Asia Resources Limited - Singapore
- Orica Mining Services - Indonesia
- GAC Shipping (India) Pvt Ltd
- Alfred C Toepfer International GmbH - Germany
- IHS Mccloskey Coal Group - USA
- Bulk Trading Sa - Switzerland
- Holcim Trading Pte Ltd - Singapore
- Xindia Steels Limited - India
- Binh Thuan Hamico - Vietnam
- Aditya Birla Group - India
- South Luzon Thermal Energy Corporation
- Manunggal Multi Energi - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- SN Aboitiz Power Inc, Philippines
- Posco Energy - South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- ASAPP Information Group - India
- Rio Tinto Coal - Australia
- Indian Oil Corporation Limited
- Sical Logistics Limited - India
- PowerSource Philippines DevCo
- PNOC Exploration Corporation - Philippines
- Karaikal Port Pvt Ltd - India
- Anglo American - United Kingdom
- Oldendorff Carriers - Singapore
- ICICI Bank Limited - India
- Pendopo Energi Batubara - Indonesia
- Attock Cement Pakistan Limited
- Mercuria Energy - Indonesia
- Mintek Dendrill Indonesia
- Medco Energi Mining Internasional
- Indonesian Coal Mining Association
- Marubeni Corporation - India
- Goldman Sachs - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Australian Coal Association
- Commonwealth Bank - Australia
- Timah Investasi Mineral - Indoneisa
- Bangladesh Power Developement Board
- Borneo Indobara - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- OPG Power Generation Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Thiess Contractors Indonesia
- Indo Tambangraya Megah - Indonesia
- Interocean Group of Companies - India
- Metalloyd Limited - United Kingdom
- Offshore Bulk Terminal Pte Ltd, Singapore
- MS Steel International - UAE
- Semirara Mining and Power Corporation, Philippines
- Makarim & Taira - Indonesia
- Price Waterhouse Coopers - Russia
- Port Waratah Coal Services - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Toyota Tsusho Corporation, Japan
- SMC Global Power, Philippines
- Sarangani Energy Corporation, Philippines
- Vizag Seaport Private Limited - India
- Global Coal Blending Company Limited - Australia
- Essar Steel Hazira Ltd - India
- Sojitz Corporation - Japan
- Bukit Baiduri Energy - Indonesia
- Tamil Nadu electricity Board
- Cement Manufacturers Association - India
- European Bulk Services B.V. - Netherlands
- Ministry of Finance - Indonesia
- CIMB Investment Bank - Malaysia
- Formosa Plastics Group - Taiwan
- Petron Corporation, Philippines
- Planning Commission, India
- Central Electricity Authority - India
- Chamber of Mines of South Africa
- Global Business Power Corporation, Philippines
- Energy Development Corp, Philippines
- The University of Queensland
- Indian Energy Exchange, India
- Videocon Industries ltd - India
- Sree Jayajothi Cements Limited - India
- Madhucon Powers Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Pipit Mutiara Jaya. PT, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Kepco SPC Power Corporation, Philippines
- Coal and Oil Company - UAE
- Eastern Energy - Thailand
- PetroVietnam Power Coal Import and Supply Company
- Ambuja Cements Ltd - India
- Parliament of New Zealand
- AsiaOL BioFuels Corp., Philippines
- Banpu Public Company Limited - Thailand
- Directorate General of MIneral and Coal - Indonesia
- Bhatia International Limited - India
- Jindal Steel & Power Ltd - India
- Lanco Infratech Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Cigading International Bulk Terminal - Indonesia
- Renaissance Capital - South Africa
- Antam Resourcindo - Indonesia
- McConnell Dowell - Australia
- Minerals Council of Australia
- Kumho Petrochemical, South Korea
- Bukit Makmur.PT - Indonesia
- Bhushan Steel Limited - India
- Directorate Of Revenue Intelligence - India
- Africa Commodities Group - South Africa
- Wood Mackenzie - Singapore
- Power Finance Corporation Ltd., India
- Eastern Coal Council - USA
- New Zealand Coal & Carbon
- Aboitiz Power Corporation - Philippines
- Malabar Cements Ltd - India
- Leighton Contractors Pty Ltd - Australia
- GMR Energy Limited - India
- Tata Chemicals Ltd - India
- Sindya Power Generating Company Private Ltd
- CNBM International Corporation - China
- Vedanta Resources Plc - India
- San Jose City I Power Corp, Philippines
- Latin American Coal - Colombia
- Grasim Industreis Ltd - India
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