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