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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 has been criticized by analysts, with lobbyists being blamed for the decision.
Since May 6, shipments of 14 minerals have been hit with a 20 percent export tax as part of the government’s plan to pressure mineral companies to process ore in Indonesia.
The commodities impacted are gold, copper, silver, tin, chromium, lead, molybdenum, bauxite, platinum, iron ore, nickel, iron sand, antimony and manganese.
Komaidi Notonegoro, a mining expert from the ReforMiner Institute, a research company for mining, energy and the environment, said he believed shareholders in big coal miners were influencing the government’s policy to “delay” applying an export tax to coal.
Pri Agung Rakhmanto, executive director of ReforMiner Institute, agreed with his colleague. He said the government’s claim that coal miners were subject to binding contracts that could not be broken did not hold water, because other miners had to abide by the same contracts.
Coal sales are also not normally bound by long-term contracts as the commodity can be easily found on spot markets.
“So the question is what’s behind this policy? Coal was supposed to be the first commodity to be subjected to the export tax. Why is the government being selective?” Pri Agung said.
ReforMiner data showed the export value of coal, which averages about $25 billion to $30 billion a year, is triple the value of the 14 mineral commodities combined, at around $8 billion to $10 billion a year.
Edi Prasodjo, director of coal at the Energy and Mineral Resources Ministry, said the government was still studying “the appropriate policy” for coal.
However, he said the government had other concerns about the coal industry. Coal production, he said, is expected to increase to around 450 million tons in 2013, which is way too much. Indonesia’s 2011 production was 330 million tons.
The government plans to limit production, but he did not explain the reasoning. East Kalimantan Governor Awang Farouk Ishak requested last Sunday that the government limit coal production from the province to help reduce environmental damage from the massive exploitation of the commodity.
Supriatna Suhala, the Jakarta-based executive director of the Indonesian Coal Mining Association, said levying an export tax on coal would be unfair, because coal miners already paid high corporation and royalties tax.
“If all contracts must be charged an export tax, then the holders of the first-generation contract will be strangled,” he said. “They cannot live anymore and may have to bring this to international arbitration.”
Ray Gunara, president director of Harum Energy, said a 20 percent export tax on coal would be a burden.
“Fuel prices are not declining, so we are not seeing costs decreasing,” he said.
Source:Investor Daily, JG Retno Ayuningtyas & Ester Nuky
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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& ...
Friday, 18 May 12
EXPORT TAX WILL ERODE PROFITS, INDONESIAN COAL EXEC COMPLAINS - THE JAKARTA GLOBE
The Jakarta Globe reported that, A 20 percent export duty the government has imposed on 14 mineral ore products will not only take a toll on mining ...
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- Meralco Power Generation, Philippines
- Eastern Coal Council - USA
- Deloitte Consulting - India
- Gujarat Electricity Regulatory Commission - India
- Karbindo Abesyapradhi - Indoneisa
- Indian Oil Corporation Limited
- ASAPP Information Group - India
- Parliament of New Zealand
- Mintek Dendrill Indonesia
- Meenaskhi Energy Private Limited - India
- San Jose City I Power Corp, Philippines
- Metalloyd Limited - United Kingdom
- Binh Thuan Hamico - Vietnam
- Romanian Commodities Exchange
- International Coal Ventures Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- The University of Queensland
- Miang Besar Coal Terminal - Indonesia
- Edison Trading Spa - Italy
- Kalimantan Lumbung Energi - Indonesia
- Kobexindo Tractors - Indoneisa
- India Bulls Power Limited - India
- Oldendorff Carriers - Singapore
- Vizag Seaport Private Limited - India
- Ministry of Transport, Egypt
- Maharashtra Electricity Regulatory Commission - India
- Dalmia Cement Bharat India
- Petron Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Directorate General of MIneral and Coal - Indonesia
- Interocean Group of Companies - India
- Aboitiz Power Corporation - Philippines
- Medco Energi Mining Internasional
- Mercator Lines Limited - India
- Manunggal Multi Energi - Indonesia
- Sindya Power Generating Company Private Ltd
- Baramulti Group, Indonesia
- Ceylon Electricity Board - Sri Lanka
- Coastal Gujarat Power Limited - India
- Intertek Mineral Services - Indonesia
- Trasteel International SA, Italy
- Siam City Cement PLC, Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Bangladesh Power Developement Board
- Australian Commodity Traders Exchange
- White Energy Company Limited
- Simpson Spence & Young - Indonesia
- OPG Power Generation Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Wood Mackenzie - Singapore
- Grasim Industreis Ltd - India
- LBH Netherlands Bv - Netherlands
- Thiess Contractors Indonesia
- PNOC Exploration Corporation - Philippines
- Ministry of Finance - Indonesia
- Madhucon Powers Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Central Electricity Authority - India
- SN Aboitiz Power Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- Sakthi Sugars Limited - India
- Goldman Sachs - Singapore
- Electricity Generating Authority of Thailand
- Aditya Birla Group - India
- Heidelberg Cement - Germany
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Lanco Infratech Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Electricity Authority, New Zealand
- McConnell Dowell - Australia
- Indian Energy Exchange, India
- Alfred C Toepfer International GmbH - Germany
- Borneo Indobara - Indonesia
- Energy Link Ltd, New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Rio Tinto Coal - Australia
- GAC Shipping (India) Pvt Ltd
- Leighton Contractors Pty Ltd - Australia
- Indika Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Planning Commission, India
- Billiton Holdings Pty Ltd - Australia
- PetroVietnam Power Coal Import and Supply Company
- Chettinad Cement Corporation Ltd - India
- Singapore Mercantile Exchange
- Indo Tambangraya Megah - Indonesia
- Samtan Co., Ltd - South Korea
- Indogreen Group - Indonesia
- IEA Clean Coal Centre - UK
- Australian Coal Association
- Jorong Barutama Greston.PT - Indonesia
- Mercuria Energy - Indonesia
- ICICI Bank Limited - India
- IHS Mccloskey Coal Group - USA
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Price Waterhouse Coopers - Russia
- Siam City Cement - Thailand
- Directorate Of Revenue Intelligence - India
- Port Waratah Coal Services - Australia
- The Treasury - Australian Government
- CIMB Investment Bank - Malaysia
- Banpu Public Company Limited - Thailand
- Formosa Plastics Group - Taiwan
- Attock Cement Pakistan Limited
- The State Trading Corporation of India Ltd
- European Bulk Services B.V. - Netherlands
- Merrill Lynch Commodities Europe
- Ministry of Mines - Canada
- Kapuas Tunggal Persada - Indonesia
- SMG Consultants - Indonesia
- Therma Luzon, Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Posco Energy - South Korea
- Global Coal Blending Company Limited - Australia
- Vedanta Resources Plc - India
- Altura Mining Limited, Indonesia
- Global Business Power Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Straits Asia Resources Limited - Singapore
- Cement Manufacturers Association - India
- Thai Mozambique Logistica
- Agrawal Coal Company - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Malabar Cements Ltd - India
- Semirara Mining Corp, Philippines
- Sree Jayajothi Cements Limited - India
- Iligan Light & Power Inc, Philippines
- Riau Bara Harum - Indonesia
- Anglo American - United Kingdom
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kohat Cement Company Ltd. - Pakistan
- Larsen & Toubro Limited - India
- Rashtriya Ispat Nigam Limited - India
- Kartika Selabumi Mining - Indonesia
- Coalindo Energy - Indonesia
- Parry Sugars Refinery, India
- Asmin Koalindo Tuhup - Indonesia
- South Luzon Thermal Energy Corporation
- GMR Energy Limited - India
- Energy Development Corp, Philippines
- Essar Steel Hazira Ltd - India
- Sojitz Corporation - Japan
- Orica Mining Services - Indonesia
- Africa Commodities Group - South Africa
- Barasentosa Lestari - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indonesian Coal Mining Association
- Antam Resourcindo - Indonesia
- Power Finance Corporation Ltd., India
- Central Java Power - Indonesia
- Kideco Jaya Agung - Indonesia
- SMC Global Power, Philippines
- Sinarmas Energy and Mining - Indonesia
- Bhatia International Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Mjunction Services Limited - India
- Ambuja Cements Ltd - India
- Tamil Nadu electricity Board
- Pendopo Energi Batubara - Indonesia
- GVK Power & Infra Limited - India
- Globalindo Alam Lestari - Indonesia
- PTC India Limited - India
- Coal and Oil Company - UAE
- Marubeni Corporation - India
- Pipit Mutiara Jaya. PT, Indonesia
- MS Steel International - UAE
- Economic Council, Georgia
- New Zealand Coal & Carbon
- Vijayanagar Sugar Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Chamber of Mines of South Africa
- Eastern Energy - Thailand
- Orica Australia Pty. Ltd.
- Latin American Coal - Colombia
- Commonwealth Bank - Australia
- AsiaOL BioFuels Corp., Philippines
- Carbofer General Trading SA - India
- Neyveli Lignite Corporation Ltd, - India
- Makarim & Taira - Indonesia
- Jindal Steel & Power Ltd - India
- Global Green Power PLC Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Maheswari Brothers Coal Limited - India
- Uttam Galva Steels Limited - India
- PowerSource Philippines DevCo
- Kumho Petrochemical, South Korea
- Bhushan Steel Limited - India
- Timah Investasi Mineral - Indoneisa
- Xindia Steels Limited - India
- Sical Logistics Limited - India
- Videocon Industries ltd - India
- London Commodity Brokers - England
- CNBM International Corporation - China
- Bukit Makmur.PT - Indonesia
- Star Paper Mills Limited - India
- Renaissance Capital - South Africa
- Wilmar Investment Holdings
- Tata Chemicals Ltd - India
- Jaiprakash Power Ventures ltd
- Minerals Council of Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Sarangani Energy Corporation, Philippines
- Bulk Trading Sa - Switzerland
- GN Power Mariveles Coal Plant, Philippines
- Bukit Baiduri Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Georgia Ports Authority, United States
- Holcim Trading Pte Ltd - Singapore
- Bharathi Cement Corporation - India
- Independent Power Producers Association of India
- VISA Power Limited - India
- Kepco SPC Power Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Standard Chartered Bank - UAE
- Gujarat Sidhee Cement - India
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