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Thursday, 03 May 12
MINERS DEMAND LEGAL CERTAINTY ON PRE-BAN INTERIM POLICY - THE JAKARTA POST
 The Jakarta Post reported that, Mining companies represented by the Indonesian Mining Association (IMA) welcomed the government’s plan to impose export duty on 14 mineral commodities starting May 6, seeing the initiative as a step in the right direction in replacing the initial plan to entirely ban the exporting of commodities.
In a statement issued on Wednesday, the IMA said the ministerial decree on the export ban, which was introduced in February and was set to become effective on May 7, had created much controversy due to the speed of its planned implementation; far earlier than the 2014 deadline set by the 2009 Mining Law, which would have left most mining companies unable to comply.
The government had argued that the quick implementation of the export ban was aimed at avoiding over-exploitation by miners ahead of the 2014 deadline, and to ensure that supplies were secured to meet growing domestic demand.
“The IMA appreciates the government’s [new] plan to issue and implement export taxes on 14 mineral commodities … We hope that given the intention to make Ministerial Decree No. 7/2012 effective on May 6, there will be further clarification from the government on its implementation,” IMA chairman, Martiono Hadianto, said.
Previously, after a wave of protests from mining companies, the government said they could continue exporting as long as certain conditions were met; namely, mining companies had to sign integrity pacts agreeing that in 2014 they would stop exporting metal ore, and they would have to submit a comprehensive proposal on whether they wanted to build smelters -- individually or in joint ventures -- or sell their products domestically.
The government revealed that as many as 17 companies had proposed to build smelters in Indonesia, in addition to the 19 companies that had previously submitted similar plans to the Energy and Mineral Resources Ministry. Altogether, Indonesia will have a total of 36 new smelters built over the next few years.
The IMA has requested that the changes to the export ban regulation be adapted into a new regulation so as to provide legal certainty for all mining companies’ operations.
A mining expert from the Institute for Essential Services Reform, Fabby Tumiwa, agreed that the government needed to provide a legal framework.
“The 2009 Law on Minerals and Coal sets the deadline at 2014, but the ministerial regulation stipulates it’s this month. Now we hear about the government’s plan to apply export tax on metal ore. What can be taxed if raw-material exports have been fully banned?” he said.
He suggested the government revoke the regulation or revise it with a clearer, new regulation to accommodate the export duty.
Ahead of the implementation of the export tax, the IMA also warned the government to consider the fact that mining companies were already paying on average 30 percent taxation on their income.
“We hope the implementation of the export tax will not adversely affect the investment climate in Indonesia and lead to less foreign investment,” Martiono said.
According to Energy and Mineral Resources Minister Jero Wacik, the export taxes, which will be announced by the Finance
Ministry on May 6, will range between 20 and 50 percent of a commodity’s sale value.
State mining firm PT Aneka Tambang’s (Antam) president director, Alwinsyah Lubis, acknowledged that the planned duty would be a challenge for mining companies. But, he understood the government’s goal to prevent over-exploitation of natural resources while awaiting the raw materials export ban to be fully implemented in 2014.
“Business-wise, it will indeed add a greater burden to companies, but I think it is still bearable,” he said in a recent exclusive interview with The Jakarta Post.
Source: The Jakarta Post
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Tuesday, 22 May 12
NEW ONE-YEAR TIME CHARTERS FOR TWO VESSELS OF EXCEL MARITIME CARRIERS LTD.
Excel Maritime Carriers Ltd. (NYSE: EXM), an owner and operator of dry bulk carriers and an international provider of worldwide seaborne transportat ...
Tuesday, 22 May 12
DRY BULK MARKET STEADY, AWAITING FURTHER RISE IN DEMAND WHICH IS DOUBTFUL - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Traditionally, the second and third quarters of the year are the strongest for the dry bulk market, but this year, things seem to be quite subdued, ...
Sunday, 20 May 12
SPOT FREIGHT RATE DIPS FURTHER - VISTAAR
COALspot.com - The BDI was marginally up by 3 points (0.26 pct) closing at 1,141 points.
The cape index was up by 1.17 pct closing at 1,633 point ...
Saturday, 19 May 12
INDONESIAN SUB-BITUMINOUS COAL SWAPS DROP US$ 2.88 PMT W-O-W
COALspot.com - Indonesian sub-bituminous coal swaps and CFR South China coal contracts for June deliveries have drops this week by 3.86 percent and& ...
Saturday, 19 May 12
INDONESIAN EXPORT TAX GIVES COAL MINERS A CHEAP RIDE: ANALYSTS - THE JAKARTA GLOBE
The Jakarta Globe reported that, Indonesia’s policy to exclude coal from an export tax that has been applied to 14 other mineral commodities h ...
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- Bhushan Steel Limited - India
- Global Coal Blending Company Limited - Australia
- Minerals Council of Australia
- Bhoruka Overseas - Indonesia
- Parry Sugars Refinery, India
- The State Trading Corporation of India Ltd
- Bhatia International Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Bharathi Cement Corporation - India
- Attock Cement Pakistan Limited
- Miang Besar Coal Terminal - Indonesia
- Carbofer General Trading SA - India
- Energy Development Corp, Philippines
- Chettinad Cement Corporation Ltd - India
- Singapore Mercantile Exchange
- Commonwealth Bank - Australia
- Therma Luzon, Inc, Philippines
- Sakthi Sugars Limited - India
- Alfred C Toepfer International GmbH - Germany
- Interocean Group of Companies - India
- Uttam Galva Steels Limited - India
- Baramulti Group, Indonesia
- Indian Energy Exchange, India
- Deloitte Consulting - India
- Kepco SPC Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Gujarat Electricity Regulatory Commission - India
- IHS Mccloskey Coal Group - USA
- Planning Commission, India
- Videocon Industries ltd - India
- IEA Clean Coal Centre - UK
- Pendopo Energi Batubara - Indonesia
- Indian Oil Corporation Limited
- London Commodity Brokers - England
- Central Java Power - Indonesia
- Banpu Public Company Limited - Thailand
- Aditya Birla Group - India
- Petrochimia International Co. Ltd.- Taiwan
- Sical Logistics Limited - India
- Jindal Steel & Power Ltd - India
- Edison Trading Spa - Italy
- Kapuas Tunggal Persada - Indonesia
- Electricity Generating Authority of Thailand
- Timah Investasi Mineral - Indoneisa
- Tamil Nadu electricity Board
- Standard Chartered Bank - UAE
- Kideco Jaya Agung - Indonesia
- Price Waterhouse Coopers - Russia
- CIMB Investment Bank - Malaysia
- Ind-Barath Power Infra Limited - India
- Lanco Infratech Ltd - India
- San Jose City I Power Corp, Philippines
- Indogreen Group - Indonesia
- Semirara Mining and Power Corporation, Philippines
- McConnell Dowell - Australia
- GMR Energy Limited - India
- OPG Power Generation Pvt Ltd - India
- Malabar Cements Ltd - India
- Rio Tinto Coal - Australia
- Latin American Coal - Colombia
- Directorate Of Revenue Intelligence - India
- Economic Council, Georgia
- Grasim Industreis Ltd - India
- The University of Queensland
- Jaiprakash Power Ventures ltd
- Medco Energi Mining Internasional
- Bukit Asam (Persero) Tbk - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Energy Link Ltd, New Zealand
- Australian Commodity Traders Exchange
- Gujarat Mineral Development Corp Ltd - India
- Port Waratah Coal Services - Australia
- Siam City Cement PLC, Thailand
- Makarim & Taira - Indonesia
- Independent Power Producers Association of India
- Sojitz Corporation - Japan
- Chamber of Mines of South Africa
- Global Business Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Savvy Resources Ltd - HongKong
- Coal and Oil Company - UAE
- Wilmar Investment Holdings
- Riau Bara Harum - Indonesia
- International Coal Ventures Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Dalmia Cement Bharat India
- Kobexindo Tractors - Indoneisa
- South Luzon Thermal Energy Corporation
- Tata Chemicals Ltd - India
- Central Electricity Authority - India
- Heidelberg Cement - Germany
- Global Green Power PLC Corporation, Philippines
- Altura Mining Limited, Indonesia
- Maheswari Brothers Coal Limited - India
- Kartika Selabumi Mining - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Directorate General of MIneral and Coal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Thai Mozambique Logistica
- Salva Resources Pvt Ltd - India
- Petron Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Oldendorff Carriers - Singapore
- Power Finance Corporation Ltd., India
- Mjunction Services Limited - India
- Manunggal Multi Energi - Indonesia
- Madhucon Powers Ltd - India
- Xindia Steels Limited - India
- Sree Jayajothi Cements Limited - India
- Billiton Holdings Pty Ltd - Australia
- Asmin Koalindo Tuhup - Indonesia
- Wood Mackenzie - Singapore
- White Energy Company Limited
- Orica Australia Pty. Ltd.
- Georgia Ports Authority, United States
- Ambuja Cements Ltd - India
- Trasteel International SA, Italy
- VISA Power Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- ASAPP Information Group - India
- Thiess Contractors Indonesia
- Karaikal Port Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Indika Energy - Indonesia
- Larsen & Toubro Limited - India
- Vedanta Resources Plc - India
- MS Steel International - UAE
- Africa Commodities Group - South Africa
- Simpson Spence & Young - Indonesia
- Eastern Energy - Thailand
- PowerSource Philippines DevCo
- Karbindo Abesyapradhi - Indoneisa
- Indonesian Coal Mining Association
- Essar Steel Hazira Ltd - India
- LBH Netherlands Bv - Netherlands
- New Zealand Coal & Carbon
- Holcim Trading Pte Ltd - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ministry of Finance - Indonesia
- Bayan Resources Tbk. - Indonesia
- Goldman Sachs - Singapore
- Meralco Power Generation, Philippines
- Siam City Cement - Thailand
- Australian Coal Association
- India Bulls Power Limited - India
- Eastern Coal Council - USA
- PetroVietnam Power Coal Import and Supply Company
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kaltim Prima Coal - Indonesia
- Samtan Co., Ltd - South Korea
- Electricity Authority, New Zealand
- The Treasury - Australian Government
- GVK Power & Infra Limited - India
- Vizag Seaport Private Limited - India
- CNBM International Corporation - China
- Bukit Baiduri Energy - Indonesia
- Merrill Lynch Commodities Europe
- SMC Global Power, Philippines
- SN Aboitiz Power Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Jorong Barutama Greston.PT - Indonesia
- Romanian Commodities Exchange
- AsiaOL BioFuels Corp., Philippines
- Semirara Mining Corp, Philippines
- Intertek Mineral Services - Indonesia
- TeaM Sual Corporation - Philippines
- Bukit Makmur.PT - Indonesia
- Sarangani Energy Corporation, Philippines
- Kumho Petrochemical, South Korea
- Gujarat Sidhee Cement - India
- Vijayanagar Sugar Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- ICICI Bank Limited - India
- Krishnapatnam Port Company Ltd. - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Formosa Plastics Group - Taiwan
- GN Power Mariveles Coal Plant, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Posco Energy - South Korea
- Orica Mining Services - Indonesia
- Bulk Trading Sa - Switzerland
- Binh Thuan Hamico - Vietnam
- SMG Consultants - Indonesia
- Mintek Dendrill Indonesia
- Cement Manufacturers Association - India
- Indo Tambangraya Megah - Indonesia
- Straits Asia Resources Limited - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Star Paper Mills Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Metalloyd Limited - United Kingdom
- Ministry of Mines - Canada
- Rashtriya Ispat Nigam Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Renaissance Capital - South Africa
- Borneo Indobara - Indonesia
- European Bulk Services B.V. - Netherlands
- Ministry of Transport, Egypt
- Pipit Mutiara Jaya. PT, Indonesia
- Agrawal Coal Company - India
- Bangladesh Power Developement Board
- Sinarmas Energy and Mining - Indonesia
- Coastal Gujarat Power Limited - India
- Meenaskhi Energy Private Limited - India
- Mercuria Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Anglo American - United Kingdom
- Coalindo Energy - Indonesia
- Mercator Lines Limited - India
- Parliament of New Zealand
- Marubeni Corporation - India
- Antam Resourcindo - Indonesia
- PTC India Limited - India
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