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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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Thursday, 03 May 12
DRY BULK MARKET REMAINS INACTIVE, POSTING MILD DECREASE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has kept retreating this week, although at a very low pace, on the back of a lull in demand. The industry's benchmark, th ...
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 impo ...
Thursday, 03 May 12
HANDY EAST COAST INDIA - CHINA AROUND USD 7000 - FEARNLEYS AS
Handy - Stable demand in the Atlantic offered good rates for the tonnage.
USG/Cont was worth USD 17500 and more. Baltic and Black Sea appeared to ...
Wednesday, 02 May 12
CHINA BLACKOUTS HIGHLIGHT PRICING POLICY WEAKNESS - FITCH
Fitch reported that, the likelihood of further electricity blackouts in China this summer underlines Fitch's view of the basic problem f ...
Tuesday, 01 May 12
VIETNAM FEARS IT MAY NOT SEEK COAL SUPPLIES - TBKTSG / VIETNAMNET BRIDGE
TBKTSG / VietNamNet Bridge reported that, with five coal-run thermopower plants under construction, PetroVietnam alone would need 18 million tons of ...
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- MS Steel International - UAE
- European Bulk Services B.V. - Netherlands
- Aboitiz Power Corporation - Philippines
- Price Waterhouse Coopers - Russia
- ICICI Bank Limited - India
- Bayan Resources Tbk. - Indonesia
- Edison Trading Spa - Italy
- Ministry of Finance - Indonesia
- Manunggal Multi Energi - Indonesia
- Makarim & Taira - Indonesia
- Medco Energi Mining Internasional
- Pipit Mutiara Jaya. PT, Indonesia
- SMG Consultants - Indonesia
- Therma Luzon, Inc, Philippines
- Star Paper Mills Limited - India
- Siam City Cement PLC, Thailand
- Ind-Barath Power Infra Limited - India
- Mercator Lines Limited - India
- SN Aboitiz Power Inc, Philippines
- Romanian Commodities Exchange
- London Commodity Brokers - England
- Salva Resources Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Bulk Trading Sa - Switzerland
- Jaiprakash Power Ventures ltd
- Leighton Contractors Pty Ltd - Australia
- Agrawal Coal Company - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sree Jayajothi Cements Limited - India
- Mjunction Services Limited - India
- San Jose City I Power Corp, Philippines
- Neyveli Lignite Corporation Ltd, - India
- VISA Power Limited - India
- Central Java Power - Indonesia
- Lanco Infratech Ltd - India
- Coalindo Energy - Indonesia
- Latin American Coal - Colombia
- Mintek Dendrill Indonesia
- Rio Tinto Coal - Australia
- Kepco SPC Power Corporation, Philippines
- Standard Chartered Bank - UAE
- Cement Manufacturers Association - India
- Semirara Mining and Power Corporation, Philippines
- Singapore Mercantile Exchange
- Kumho Petrochemical, South Korea
- Commonwealth Bank - Australia
- Jindal Steel & Power Ltd - India
- Power Finance Corporation Ltd., India
- Ambuja Cements Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Thai Mozambique Logistica
- Ceylon Electricity Board - Sri Lanka
- Mercuria Energy - Indonesia
- PowerSource Philippines DevCo
- Ministry of Transport, Egypt
- Energy Development Corp, Philippines
- Bhushan Steel Limited - India
- Global Business Power Corporation, Philippines
- Dalmia Cement Bharat India
- Bukit Baiduri Energy - Indonesia
- Port Waratah Coal Services - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Intertek Mineral Services - Indonesia
- Riau Bara Harum - Indonesia
- Sojitz Corporation - Japan
- The State Trading Corporation of India Ltd
- Electricity Authority, New Zealand
- Gujarat Sidhee Cement - India
- Maheswari Brothers Coal Limited - India
- The Treasury - Australian Government
- Kideco Jaya Agung - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Bangladesh Power Developement Board
- Georgia Ports Authority, United States
- Kaltim Prima Coal - Indonesia
- Independent Power Producers Association of India
- Tata Chemicals Ltd - India
- Indogreen Group - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Posco Energy - South Korea
- The University of Queensland
- Malabar Cements Ltd - India
- SMC Global Power, Philippines
- Samtan Co., Ltd - South Korea
- Bank of Tokyo Mitsubishi UFJ Ltd
- PTC India Limited - India
- Orica Mining Services - Indonesia
- Minerals Council of Australia
- GAC Shipping (India) Pvt Ltd
- McConnell Dowell - Australia
- OPG Power Generation Pvt Ltd - India
- Anglo American - United Kingdom
- PNOC Exploration Corporation - Philippines
- Sical Logistics Limited - India
- Australian Commodity Traders Exchange
- Kartika Selabumi Mining - Indonesia
- Meralco Power Generation, Philippines
- Baramulti Group, Indonesia
- Essar Steel Hazira Ltd - India
- Sindya Power Generating Company Private Ltd
- Toyota Tsusho Corporation, Japan
- Global Coal Blending Company Limited - Australia
- Holcim Trading Pte Ltd - Singapore
- Africa Commodities Group - South Africa
- Bahari Cakrawala Sebuku - Indonesia
- Siam City Cement - Thailand
- South Luzon Thermal Energy Corporation
- PetroVietnam Power Coal Import and Supply Company
- Xindia Steels Limited - India
- Vizag Seaport Private Limited - India
- Antam Resourcindo - Indonesia
- Vedanta Resources Plc - India
- Grasim Industreis Ltd - India
- Marubeni Corporation - India
- Pendopo Energi Batubara - Indonesia
- Global Green Power PLC Corporation, Philippines
- Indonesian Coal Mining Association
- Bharathi Cement Corporation - India
- Chamber of Mines of South Africa
- Wilmar Investment Holdings
- TeaM Sual Corporation - Philippines
- Globalindo Alam Lestari - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Kapuas Tunggal Persada - Indonesia
- IEA Clean Coal Centre - UK
- Borneo Indobara - Indonesia
- Iligan Light & Power Inc, Philippines
- Uttam Galva Steels Limited - India
- GVK Power & Infra Limited - India
- Altura Mining Limited, Indonesia
- Heidelberg Cement - Germany
- Kobexindo Tractors - Indoneisa
- Chettinad Cement Corporation Ltd - India
- Barasentosa Lestari - Indonesia
- Coastal Gujarat Power Limited - India
- CNBM International Corporation - China
- Bhoruka Overseas - Indonesia
- Larsen & Toubro Limited - India
- Bhatia International Limited - India
- Savvy Resources Ltd - HongKong
- Coal and Oil Company - UAE
- Simpson Spence & Young - Indonesia
- Petron Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Eastern Coal Council - USA
- Madhucon Powers Ltd - India
- Indian Oil Corporation Limited
- Aditya Birla Group - India
- Kohat Cement Company Ltd. - Pakistan
- Bukit Asam (Persero) Tbk - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Maharashtra Electricity Regulatory Commission - India
- Meenaskhi Energy Private Limited - India
- Sinarmas Energy and Mining - Indonesia
- Renaissance Capital - South Africa
- Videocon Industries ltd - India
- Energy Link Ltd, New Zealand
- Indian Energy Exchange, India
- Thiess Contractors Indonesia
- Deloitte Consulting - India
- Interocean Group of Companies - India
- New Zealand Coal & Carbon
- Carbofer General Trading SA - India
- Straits Asia Resources Limited - Singapore
- Miang Besar Coal Terminal - Indonesia
- Central Electricity Authority - India
- Sakthi Sugars Limited - India
- Billiton Holdings Pty Ltd - Australia
- India Bulls Power Limited - India
- Parliament of New Zealand
- Directorate General of MIneral and Coal - Indonesia
- Economic Council, Georgia
- Wood Mackenzie - Singapore
- Metalloyd Limited - United Kingdom
- GMR Energy Limited - India
- Bukit Makmur.PT - Indonesia
- International Coal Ventures Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Directorate Of Revenue Intelligence - India
- LBH Netherlands Bv - Netherlands
- Eastern Energy - Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Electricity Generating Authority of Thailand
- Karbindo Abesyapradhi - Indoneisa
- Sarangani Energy Corporation, Philippines
- Indika Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Goldman Sachs - Singapore
- IHS Mccloskey Coal Group - USA
- Trasteel International SA, Italy
- Attock Cement Pakistan Limited
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Parry Sugars Refinery, India
- Australian Coal Association
- Merrill Lynch Commodities Europe
- ASAPP Information Group - India
- Ministry of Mines - Canada
- Planning Commission, India
- Karaikal Port Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Alfred C Toepfer International GmbH - Germany
- Gujarat Mineral Development Corp Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Cigading International Bulk Terminal - Indonesia
- Semirara Mining Corp, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Formosa Plastics Group - Taiwan
- Kalimantan Lumbung Energi - Indonesia
- White Energy Company Limited
- Banpu Public Company Limited - Thailand
- Tamil Nadu electricity Board
- Rashtriya Ispat Nigam Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Oldendorff Carriers - Singapore
- Orica Australia Pty. Ltd.
- CIMB Investment Bank - Malaysia
- TNB Fuel Sdn Bhd - Malaysia
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