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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, 15 May 12
POTENTIAL BOOM OF CHINAS COAL IMPORTS COULD PROVIDE FURTHER SUPPORT TO DRY BULK MARKET - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has been moving sideways during the past week with the industry’s benchmark, the Baltic Dry Index (BDI) losing 0.53% on th ...
Saturday, 12 May 12
THE SHIPPING MARKET IS UNLIKELY TO SEE A REBOUND ANYTIME SOON - VISTAAR SINGAPORE
COALspot.com - The BDI softened this week and it was down by 1.64 pct closing at 1,138 points.
The cape index was up by 2.41 pct closing at 1,61 ...
Friday, 11 May 12
POLITICAL CHANGES COULD LEAD TO TEMPORARY HALT IN SHIPPING INVESTMENTS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The potential of changes of political leadership in many of the world’s leading economies could very well lead to significant shifts in the di ...
Thursday, 10 May 12
DRY BULK ERRATIC ON LACK OF DIRECTION - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has kept up its erratic behavior as it went down again during yesterday’s session, on a lack of direct guidance in terms o ...
Wednesday, 09 May 12
COAL INDIA SIGNS FSAS WITH 13 POWER UNITS SO FAR - PTI
Press Trust of India has reported that, coal India has so far entered into fuel supply pacts with 13 power units, including Reliance Power's Rosa P ...
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- Gujarat Electricity Regulatory Commission - India
- Central Electricity Authority - India
- Ind-Barath Power Infra Limited - India
- Georgia Ports Authority, United States
- ASAPP Information Group - India
- Minerals Council of Australia
- Cement Manufacturers Association - India
- Neyveli Lignite Corporation Ltd, - India
- Kobexindo Tractors - Indoneisa
- Maheswari Brothers Coal Limited - India
- Sindya Power Generating Company Private Ltd
- Globalindo Alam Lestari - Indonesia
- Eastern Coal Council - USA
- ICICI Bank Limited - India
- Holcim Trading Pte Ltd - Singapore
- Salva Resources Pvt Ltd - India
- Thai Mozambique Logistica
- Bulk Trading Sa - Switzerland
- Posco Energy - South Korea
- Chamber of Mines of South Africa
- Kartika Selabumi Mining - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Renaissance Capital - South Africa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Formosa Plastics Group - Taiwan
- Binh Thuan Hamico - Vietnam
- Electricity Generating Authority of Thailand
- PNOC Exploration Corporation - Philippines
- Grasim Industreis Ltd - India
- Sojitz Corporation - Japan
- The State Trading Corporation of India Ltd
- Directorate Of Revenue Intelligence - India
- Aditya Birla Group - India
- Indian Oil Corporation Limited
- Bhushan Steel Limited - India
- Gujarat Sidhee Cement - India
- Orica Australia Pty. Ltd.
- Ministry of Mines - Canada
- Kideco Jaya Agung - Indonesia
- Power Finance Corporation Ltd., India
- Semirara Mining and Power Corporation, Philippines
- Kumho Petrochemical, South Korea
- Tamil Nadu electricity Board
- Coastal Gujarat Power Limited - India
- Eastern Energy - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Star Paper Mills Limited - India
- Banpu Public Company Limited - Thailand
- Australian Coal Association
- Goldman Sachs - Singapore
- Barasentosa Lestari - Indonesia
- Chettinad Cement Corporation Ltd - India
- Larsen & Toubro Limited - India
- Kapuas Tunggal Persada - Indonesia
- Simpson Spence & Young - Indonesia
- Lanco Infratech Ltd - India
- Trasteel International SA, Italy
- Wood Mackenzie - Singapore
- Semirara Mining Corp, Philippines
- Indo Tambangraya Megah - Indonesia
- Rio Tinto Coal - Australia
- Bangladesh Power Developement Board
- Interocean Group of Companies - India
- Meralco Power Generation, Philippines
- Miang Besar Coal Terminal - Indonesia
- European Bulk Services B.V. - Netherlands
- Directorate General of MIneral and Coal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Medco Energi Mining Internasional
- Romanian Commodities Exchange
- Price Waterhouse Coopers - Russia
- Intertek Mineral Services - Indonesia
- Cigading International Bulk Terminal - Indonesia
- GVK Power & Infra Limited - India
- Coal and Oil Company - UAE
- Riau Bara Harum - Indonesia
- Ministry of Transport, Egypt
- Sakthi Sugars Limited - India
- White Energy Company Limited
- Mercator Lines Limited - India
- Timah Investasi Mineral - Indoneisa
- Port Waratah Coal Services - Australia
- Wilmar Investment Holdings
- Global Coal Blending Company Limited - Australia
- CNBM International Corporation - China
- Uttam Galva Steels Limited - India
- Planning Commission, India
- Pipit Mutiara Jaya. PT, Indonesia
- PetroVietnam Power Coal Import and Supply Company
- SMG Consultants - Indonesia
- Oldendorff Carriers - Singapore
- Anglo American - United Kingdom
- Makarim & Taira - Indonesia
- Marubeni Corporation - India
- TNB Fuel Sdn Bhd - Malaysia
- San Jose City I Power Corp, Philippines
- Videocon Industries ltd - India
- Rashtriya Ispat Nigam Limited - India
- Carbofer General Trading SA - India
- Kepco SPC Power Corporation, Philippines
- New Zealand Coal & Carbon
- McConnell Dowell - Australia
- Karaikal Port Pvt Ltd - India
- SMC Global Power, Philippines
- Parry Sugars Refinery, India
- OPG Power Generation Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Kalimantan Lumbung Energi - Indonesia
- Xindia Steels Limited - India
- AsiaOL BioFuels Corp., Philippines
- Global Green Power PLC Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Vedanta Resources Plc - India
- Independent Power Producers Association of India
- Mjunction Services Limited - India
- Bhatia International Limited - India
- Bukit Makmur.PT - Indonesia
- Dalmia Cement Bharat India
- Bayan Resources Tbk. - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Standard Chartered Bank - UAE
- PTC India Limited - India
- Meenaskhi Energy Private Limited - India
- Baramulti Group, Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Central Java Power - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- South Luzon Thermal Energy Corporation
- Jorong Barutama Greston.PT - Indonesia
- Antam Resourcindo - Indonesia
- Australian Commodity Traders Exchange
- VISA Power Limited - India
- Siam City Cement PLC, Thailand
- Coalindo Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Indogreen Group - Indonesia
- Iligan Light & Power Inc, Philippines
- Bharathi Cement Corporation - India
- Parliament of New Zealand
- Straits Asia Resources Limited - Singapore
- The University of Queensland
- Ceylon Electricity Board - Sri Lanka
- Samtan Co., Ltd - South Korea
- Vizag Seaport Private Limited - India
- Leighton Contractors Pty Ltd - Australia
- GMR Energy Limited - India
- TeaM Sual Corporation - Philippines
- Indonesian Coal Mining Association
- Bukit Baiduri Energy - Indonesia
- Mintek Dendrill Indonesia
- GAC Shipping (India) Pvt Ltd
- Merrill Lynch Commodities Europe
- Indika Energy - Indonesia
- London Commodity Brokers - England
- Electricity Authority, New Zealand
- India Bulls Power Limited - India
- Orica Mining Services - Indonesia
- Savvy Resources Ltd - HongKong
- Krishnapatnam Port Company Ltd. - India
- Aboitiz Power Corporation - Philippines
- Asmin Koalindo Tuhup - Indonesia
- Global Business Power Corporation, Philippines
- Mercuria Energy - Indonesia
- PowerSource Philippines DevCo
- Bhoruka Overseas - Indonesia
- SN Aboitiz Power Inc, Philippines
- Ministry of Finance - Indonesia
- Sree Jayajothi Cements Limited - India
- Thiess Contractors Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Commonwealth Bank - Australia
- Heidelberg Cement - Germany
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Madhucon Powers Ltd - India
- IEA Clean Coal Centre - UK
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Metalloyd Limited - United Kingdom
- IHS Mccloskey Coal Group - USA
- Sinarmas Energy and Mining - Indonesia
- Borneo Indobara - Indonesia
- Indian Energy Exchange, India
- Sarangani Energy Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Petron Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Toyota Tsusho Corporation, Japan
- Tata Chemicals Ltd - India
- Energy Development Corp, Philippines
- Malabar Cements Ltd - India
- Siam City Cement - Thailand
- Pendopo Energi Batubara - Indonesia
- Edison Trading Spa - Italy
- Essar Steel Hazira Ltd - India
- Africa Commodities Group - South Africa
- Singapore Mercantile Exchange
- Gujarat Mineral Development Corp Ltd - India
- Agrawal Coal Company - India
- Latin American Coal - Colombia
- Deloitte Consulting - India
- Kaltim Prima Coal - Indonesia
- Attock Cement Pakistan Limited
- Economic Council, Georgia
- Kohat Cement Company Ltd. - Pakistan
- Altura Mining Limited, Indonesia
- Sical Logistics Limited - India
- Energy Link Ltd, New Zealand
- The Treasury - Australian Government
- Therma Luzon, Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- MS Steel International - UAE
- Ambuja Cements Ltd - India
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