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Sunday, 06 May 12
EXPORT DUTY ON MINERAL FINALLY TO BECOME EFFECTIVE NEXT WEEK
.jpg) COALspot.com - Mineral ore exporters of Indonesia ( only IUP holders) are required to obtain recommendation letter from the energy and mineral resources ministry before being able to export metal ore starting from 7th May 2012 until 12 January 2014.
By 12 January 2014, all mineral ore and unprocessed coal exports will be stopped.
According to a notice published on directorate general of mineral and coal’s website, the recommendation will only be granted to companies, if the companies fulfill certain requirements, such as IUP status must be clean and clear, the company have paid all their tax and non-tax financial obligations, and they must submit a comprehensive proposal on whether they want to build their own smelters, establish a consortium with other companies to jointly build smelters, or sell their raw materials to smelting companies in the country.
Companies must also require to sign integrity pacts with the government undertaking they will stop exporting raw materials in 2014 as mandated by the Minerals and Coal Law. A 20-percent export duty on 14 mineral commodities (antimony, bauxite, chromium, copper, gold, iron ore, iron sand, lead, manganese, molybdenum, nickel, platinum, silver and tin ) will be imposed from 7th May 2012.
In the meantime, the energy and mineral resources ministry’s director general for minerals and coal, revealed the export tax and the requirements would apply only to IUP holders and not for contract of work (CoW) holders.
The government was silent on coal either export duty or export ban. Previously government was planning to introduce a ban on low calorific value coal or unprocessed coal by 2014, and finance ministry of Indonesia is expected to issue a regulation to impose export duty. A official from directorate general of mineral and coal previously revealed that, the export duty will be around 25 percent in 2012 and 50 percent in 2013.
However instead of proposed 25 percent export duty on mineral in 2012, now government is introduced only 20 percent duty and coal exempted temporary from any export duty.
If export duty on coal introduced and implemented, it will be applicable only for IUP holders and not for CCoW holders. According to market sources, CCoW holders are holding at least 70-80 percent of Indonesian coal production and exports.
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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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- Kumho Petrochemical, South Korea
- Billiton Holdings Pty Ltd - Australia
- Indika Energy - Indonesia
- Barasentosa Lestari - Indonesia
- Indo Tambangraya Megah - Indonesia
- Dalmia Cement Bharat India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Iligan Light & Power Inc, Philippines
- VISA Power Limited - India
- Ceylon Electricity Board - Sri Lanka
- LBH Netherlands Bv - Netherlands
- Kobexindo Tractors - Indoneisa
- IEA Clean Coal Centre - UK
- International Coal Ventures Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Malabar Cements Ltd - India
- Mintek Dendrill Indonesia
- Ministry of Transport, Egypt
- Bahari Cakrawala Sebuku - Indonesia
- Energy Development Corp, Philippines
- TeaM Sual Corporation - Philippines
- PetroVietnam Power Coal Import and Supply Company
- Bhushan Steel Limited - India
- Price Waterhouse Coopers - Russia
- Port Waratah Coal Services - Australia
- SMC Global Power, Philippines
- Toyota Tsusho Corporation, Japan
- Semirara Mining and Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Global Coal Blending Company Limited - Australia
- Cigading International Bulk Terminal - Indonesia
- Sree Jayajothi Cements Limited - India
- Chamber of Mines of South Africa
- Intertek Mineral Services - Indonesia
- OPG Power Generation Pvt Ltd - India
- Siam City Cement - Thailand
- Uttam Galva Steels Limited - India
- PTC India Limited - India
- Goldman Sachs - Singapore
- Maheswari Brothers Coal Limited - India
- Rio Tinto Coal - Australia
- SMG Consultants - Indonesia
- Coal and Oil Company - UAE
- Bhatia International Limited - India
- Bulk Trading Sa - Switzerland
- Bayan Resources Tbk. - Indonesia
- Romanian Commodities Exchange
- Ministry of Mines - Canada
- The Treasury - Australian Government
- Anglo American - United Kingdom
- Gujarat Electricity Regulatory Commission - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Grasim Industreis Ltd - India
- Mercuria Energy - Indonesia
- Indian Oil Corporation Limited
- Vizag Seaport Private Limited - India
- Salva Resources Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Lanco Infratech Ltd - India
- Marubeni Corporation - India
- Oldendorff Carriers - Singapore
- Georgia Ports Authority, United States
- Electricity Authority, New Zealand
- Riau Bara Harum - Indonesia
- GAC Shipping (India) Pvt Ltd
- Star Paper Mills Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Planning Commission, India
- Cement Manufacturers Association - India
- Economic Council, Georgia
- Eastern Energy - Thailand
- Aboitiz Power Corporation - Philippines
- Bharathi Cement Corporation - India
- Makarim & Taira - Indonesia
- Formosa Plastics Group - Taiwan
- Heidelberg Cement - Germany
- Wilmar Investment Holdings
- Indonesian Coal Mining Association
- Deloitte Consulting - India
- Jindal Steel & Power Ltd - India
- Jaiprakash Power Ventures ltd
- Krishnapatnam Port Company Ltd. - India
- Mjunction Services Limited - India
- Coalindo Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Gujarat Sidhee Cement - India
- Madhucon Powers Ltd - India
- Energy Link Ltd, New Zealand
- Leighton Contractors Pty Ltd - Australia
- Bangladesh Power Developement Board
- Sical Logistics Limited - India
- Sojitz Corporation - Japan
- Vedanta Resources Plc - India
- TNB Fuel Sdn Bhd - Malaysia
- Africa Commodities Group - South Africa
- Savvy Resources Ltd - HongKong
- Indian Energy Exchange, India
- Latin American Coal - Colombia
- Simpson Spence & Young - Indonesia
- Aditya Birla Group - India
- Posco Energy - South Korea
- Parliament of New Zealand
- Kohat Cement Company Ltd. - Pakistan
- Ambuja Cements Ltd - India
- Power Finance Corporation Ltd., India
- Global Business Power Corporation, Philippines
- CIMB Investment Bank - Malaysia
- India Bulls Power Limited - India
- Standard Chartered Bank - UAE
- Merrill Lynch Commodities Europe
- Kalimantan Lumbung Energi - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- GMR Energy Limited - India
- Sindya Power Generating Company Private Ltd
- Sinarmas Energy and Mining - Indonesia
- Singapore Mercantile Exchange
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- AsiaOL BioFuels Corp., Philippines
- White Energy Company Limited
- Ind-Barath Power Infra Limited - India
- MS Steel International - UAE
- Kartika Selabumi Mining - Indonesia
- The State Trading Corporation of India Ltd
- Manunggal Multi Energi - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- McConnell Dowell - Australia
- Edison Trading Spa - Italy
- South Luzon Thermal Energy Corporation
- Eastern Coal Council - USA
- Sakthi Sugars Limited - India
- Meralco Power Generation, Philippines
- SN Aboitiz Power Inc, Philippines
- The University of Queensland
- Banpu Public Company Limited - Thailand
- Bukit Baiduri Energy - Indonesia
- Siam City Cement PLC, Thailand
- Videocon Industries ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Australian Coal Association
- Indogreen Group - Indonesia
- Kaltim Prima Coal - Indonesia
- Central Electricity Authority - India
- Bukit Asam (Persero) Tbk - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Wood Mackenzie - Singapore
- Thiess Contractors Indonesia
- Timah Investasi Mineral - Indoneisa
- Thai Mozambique Logistica
- Tamil Nadu electricity Board
- Renaissance Capital - South Africa
- San Jose City I Power Corp, Philippines
- London Commodity Brokers - England
- Interocean Group of Companies - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Tata Chemicals Ltd - India
- Petron Corporation, Philippines
- Agrawal Coal Company - India
- PowerSource Philippines DevCo
- Attock Cement Pakistan Limited
- Central Java Power - Indonesia
- PNOC Exploration Corporation - Philippines
- IHS Mccloskey Coal Group - USA
- Kapuas Tunggal Persada - Indonesia
- Parry Sugars Refinery, India
- Orica Mining Services - Indonesia
- Binh Thuan Hamico - Vietnam
- European Bulk Services B.V. - Netherlands
- Mercator Lines Limited - India
- GVK Power & Infra Limited - India
- Bukit Makmur.PT - Indonesia
- Minerals Council of Australia
- Essar Steel Hazira Ltd - India
- Altura Mining Limited, Indonesia
- Kideco Jaya Agung - Indonesia
- Globalindo Alam Lestari - Indonesia
- New Zealand Coal & Carbon
- Straits Asia Resources Limited - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Carbofer General Trading SA - India
- Meenaskhi Energy Private Limited - India
- Antam Resourcindo - Indonesia
- CNBM International Corporation - China
- Australian Commodity Traders Exchange
- Pendopo Energi Batubara - Indonesia
- Coastal Gujarat Power Limited - India
- Therma Luzon, Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Petrochimia International Co. Ltd.- Taiwan
- Commonwealth Bank - Australia
- Independent Power Producers Association of India
- Orica Australia Pty. Ltd.
- Bhoruka Overseas - Indonesia
- Ministry of Finance - Indonesia
- Karaikal Port Pvt Ltd - India
- ICICI Bank Limited - India
- Larsen & Toubro Limited - India
- ASAPP Information Group - India
- Miang Besar Coal Terminal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Semirara Mining Corp, Philippines
- Baramulti Group, Indonesia
- Borneo Indobara - Indonesia
- Global Green Power PLC Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Medco Energi Mining Internasional
- Directorate General of MIneral and Coal - Indonesia
- Sarangani Energy Corporation, Philippines
- Trasteel International SA, Italy
- Electricity Generating Authority of Thailand
- Xindia Steels Limited - India
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