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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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- Xindia Steels Limited - India
- Kartika Selabumi Mining - Indonesia
- Mjunction Services Limited - India
- Intertek Mineral Services - Indonesia
- Thai Mozambique Logistica
- Planning Commission, India
- SN Aboitiz Power Inc, Philippines
- MS Steel International - UAE
- Mercator Lines Limited - India
- Binh Thuan Hamico - Vietnam
- GAC Shipping (India) Pvt Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Directorate Of Revenue Intelligence - India
- Neyveli Lignite Corporation Ltd, - India
- Kohat Cement Company Ltd. - Pakistan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indonesian Coal Mining Association
- Marubeni Corporation - India
- Aditya Birla Group - India
- Bukit Makmur.PT - Indonesia
- Gujarat Sidhee Cement - India
- AsiaOL BioFuels Corp., Philippines
- Salva Resources Pvt Ltd - India
- Bhatia International Limited - India
- Altura Mining Limited, Indonesia
- Baramulti Group, Indonesia
- Tata Chemicals Ltd - India
- VISA Power Limited - India
- Karaikal Port Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Gujarat Electricity Regulatory Commission - India
- Carbofer General Trading SA - India
- Energy Link Ltd, New Zealand
- Sree Jayajothi Cements Limited - India
- Price Waterhouse Coopers - Russia
- Iligan Light & Power Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- LBH Netherlands Bv - Netherlands
- New Zealand Coal & Carbon
- PNOC Exploration Corporation - Philippines
- Tamil Nadu electricity Board
- Australian Commodity Traders Exchange
- CNBM International Corporation - China
- Formosa Plastics Group - Taiwan
- Directorate General of MIneral and Coal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Central Electricity Authority - India
- Krishnapatnam Port Company Ltd. - India
- Bayan Resources Tbk. - Indonesia
- Straits Asia Resources Limited - Singapore
- Global Coal Blending Company Limited - Australia
- Romanian Commodities Exchange
- Uttam Galva Steels Limited - India
- Simpson Spence & Young - Indonesia
- European Bulk Services B.V. - Netherlands
- Dalmia Cement Bharat India
- GN Power Mariveles Coal Plant, Philippines
- Merrill Lynch Commodities Europe
- Trasteel International SA, Italy
- Coalindo Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Minerals Council of Australia
- Orica Mining Services - Indonesia
- The University of Queensland
- Sindya Power Generating Company Private Ltd
- Mintek Dendrill Indonesia
- TeaM Sual Corporation - Philippines
- SMG Consultants - Indonesia
- Ind-Barath Power Infra Limited - India
- Petron Corporation, Philippines
- Singapore Mercantile Exchange
- India Bulls Power Limited - India
- Maheswari Brothers Coal Limited - India
- Wilmar Investment Holdings
- PTC India Limited - India
- IEA Clean Coal Centre - UK
- Bangladesh Power Developement Board
- Bukit Asam (Persero) Tbk - Indonesia
- Wood Mackenzie - Singapore
- Heidelberg Cement - Germany
- Indogreen Group - Indonesia
- Goldman Sachs - Singapore
- Bukit Baiduri Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Ministry of Transport, Egypt
- Grasim Industreis Ltd - India
- Kobexindo Tractors - Indoneisa
- Electricity Generating Authority of Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Attock Cement Pakistan Limited
- IHS Mccloskey Coal Group - USA
- Bahari Cakrawala Sebuku - Indonesia
- Kaltim Prima Coal - Indonesia
- Kideco Jaya Agung - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Central Java Power - Indonesia
- San Jose City I Power Corp, Philippines
- Meenaskhi Energy Private Limited - India
- Barasentosa Lestari - Indonesia
- Rio Tinto Coal - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Rashtriya Ispat Nigam Limited - India
- Chamber of Mines of South Africa
- Videocon Industries ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Offshore Bulk Terminal Pte Ltd, Singapore
- Pendopo Energi Batubara - Indonesia
- Independent Power Producers Association of India
- Borneo Indobara - Indonesia
- Madhucon Powers Ltd - India
- Miang Besar Coal Terminal - Indonesia
- South Luzon Thermal Energy Corporation
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Australian Coal Association
- Interocean Group of Companies - India
- Ambuja Cements Ltd - India
- Deloitte Consulting - India
- Ministry of Mines - Canada
- McConnell Dowell - Australia
- Commonwealth Bank - Australia
- Maharashtra Electricity Regulatory Commission - India
- Energy Development Corp, Philippines
- Alfred C Toepfer International GmbH - Germany
- Eastern Coal Council - USA
- Essar Steel Hazira Ltd - India
- Orica Australia Pty. Ltd.
- Siam City Cement PLC, Thailand
- Asmin Koalindo Tuhup - Indonesia
- Parry Sugars Refinery, India
- Sakthi Sugars Limited - India
- Power Finance Corporation Ltd., India
- Bharathi Cement Corporation - India
- Global Green Power PLC Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Bhushan Steel Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Agrawal Coal Company - India
- Savvy Resources Ltd - HongKong
- Aboitiz Power Corporation - Philippines
- Holcim Trading Pte Ltd - Singapore
- Georgia Ports Authority, United States
- Thiess Contractors Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Ceylon Electricity Board - Sri Lanka
- ASAPP Information Group - India
- Electricity Authority, New Zealand
- Ministry of Finance - Indonesia
- Semirara Mining Corp, Philippines
- Banpu Public Company Limited - Thailand
- Riau Bara Harum - Indonesia
- Medco Energi Mining Internasional
- Latin American Coal - Colombia
- Renaissance Capital - South Africa
- International Coal Ventures Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Jaiprakash Power Ventures ltd
- White Energy Company Limited
- Kalimantan Lumbung Energi - Indonesia
- Cement Manufacturers Association - India
- Siam City Cement - Thailand
- PowerSource Philippines DevCo
- Star Paper Mills Limited - India
- Toyota Tsusho Corporation, Japan
- Larsen & Toubro Limited - India
- Samtan Co., Ltd - South Korea
- GVK Power & Infra Limited - India
- Therma Luzon, Inc, Philippines
- GMR Energy Limited - India
- Vedanta Resources Plc - India
- CIMB Investment Bank - Malaysia
- The Treasury - Australian Government
- Jindal Steel & Power Ltd - India
- OPG Power Generation Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Meralco Power Generation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Oldendorff Carriers - Singapore
- Metalloyd Limited - United Kingdom
- Karbindo Abesyapradhi - Indoneisa
- Mercuria Energy - Indonesia
- London Commodity Brokers - England
- Sarangani Energy Corporation, Philippines
- Antam Resourcindo - Indonesia
- Posco Energy - South Korea
- ICICI Bank Limited - India
- Kapuas Tunggal Persada - Indonesia
- Malabar Cements Ltd - India
- SMC Global Power, Philippines
- Economic Council, Georgia
- Edison Trading Spa - Italy
- Sical Logistics Limited - India
- Indian Oil Corporation Limited
- Manunggal Multi Energi - Indonesia
- Indika Energy - Indonesia
- Global Business Power Corporation, Philippines
- The State Trading Corporation of India Ltd
- Vizag Seaport Private Limited - India
- Anglo American - United Kingdom
- Parliament of New Zealand
- Standard Chartered Bank - UAE
- Bank of Tokyo Mitsubishi UFJ Ltd
- Eastern Energy - Thailand
- Coal and Oil Company - UAE
- Lanco Infratech Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Indian Energy Exchange, India
- Africa Commodities Group - South Africa
- Sojitz Corporation - Japan
- Makarim & Taira - Indonesia
- Coastal Gujarat Power Limited - India
- Globalindo Alam Lestari - Indonesia
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