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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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Wednesday, 11 April 12
DRY BULK MARKET STILL SUBDUED, RECOVERY NOT YET SEEN - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market entered the new week after the past days of easter holidays in western countries in a subdued mood. The industry’s benchma ...
Monday, 09 April 12
WEEKLY DRY MARKET OVERVIEW - MARIA BERTZELETOU, HELLENIC SHIPPING
The first week of April ended with the Baltic Dry Index falling below 950 points, before Catholic Easter, and capesizes showing a modest upturn with ...
Sunday, 08 April 12
CHARTER RATES COULD CONTINUE TO BE SOFT NEXT WEEK - VISTAAR
COALspot.com - The BDI was almost at same levels closing slightly lower by 0.64 pct at 928 points.
The Cape index was up by 6.73 pct closing at ...
Friday, 06 April 12
INDONESIAN HBA FALL TO LOWEST LEVEL SINCE JANUARY 2011
COALspot.com - Indonesian HBA fall to lowest level since January 2011 this month. The monthly coal reference price for coal sales in April fal ...
Friday, 06 April 12
DRY BULK MARKET SWIFT TO HALT FALL ON RENEWED DEMAND FOR CAPESIZES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk managed to put a stop to the recent falls, which came as a result of a lacklustre demand for smaller vessel sizes. Although this trend ...
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- Romanian Commodities Exchange
- TeaM Sual Corporation - Philippines
- Intertek Mineral Services - Indonesia
- Borneo Indobara - Indonesia
- Simpson Spence & Young - Indonesia
- Vizag Seaport Private Limited - India
- Electricity Authority, New Zealand
- Ministry of Finance - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Oldendorff Carriers - Singapore
- Ambuja Cements Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- London Commodity Brokers - England
- Indian Oil Corporation Limited
- Altura Mining Limited, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Krishnapatnam Port Company Ltd. - India
- McConnell Dowell - Australia
- Coal and Oil Company - UAE
- Thai Mozambique Logistica
- Kapuas Tunggal Persada - Indonesia
- Africa Commodities Group - South Africa
- Bahari Cakrawala Sebuku - Indonesia
- PowerSource Philippines DevCo
- Orica Australia Pty. Ltd.
- New Zealand Coal & Carbon
- Vedanta Resources Plc - India
- Directorate Of Revenue Intelligence - India
- Commonwealth Bank - Australia
- International Coal Ventures Pvt Ltd - India
- Tata Chemicals Ltd - India
- Eastern Coal Council - USA
- Eastern Energy - Thailand
- Asmin Koalindo Tuhup - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Mercator Lines Limited - India
- Alfred C Toepfer International GmbH - Germany
- Maharashtra Electricity Regulatory Commission - India
- Price Waterhouse Coopers - Russia
- Deloitte Consulting - India
- Central Electricity Authority - India
- Attock Cement Pakistan Limited
- AsiaOL BioFuels Corp., Philippines
- Madhucon Powers Ltd - India
- Aditya Birla Group - India
- ICICI Bank Limited - India
- Interocean Group of Companies - India
- Energy Development Corp, Philippines
- Metalloyd Limited - United Kingdom
- The Treasury - Australian Government
- Offshore Bulk Terminal Pte Ltd, Singapore
- Malabar Cements Ltd - India
- Cement Manufacturers Association - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indonesian Coal Mining Association
- Thiess Contractors Indonesia
- Tamil Nadu electricity Board
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Bayan Resources Tbk. - Indonesia
- Trasteel International SA, Italy
- SMC Global Power, Philippines
- PTC India Limited - India
- Antam Resourcindo - Indonesia
- Singapore Mercantile Exchange
- Banpu Public Company Limited - Thailand
- VISA Power Limited - India
- Aboitiz Power Corporation - Philippines
- White Energy Company Limited
- Bhoruka Overseas - Indonesia
- Sical Logistics Limited - India
- Parry Sugars Refinery, India
- Edison Trading Spa - Italy
- Global Business Power Corporation, Philippines
- Mercuria Energy - Indonesia
- Mintek Dendrill Indonesia
- Sinarmas Energy and Mining - Indonesia
- Samtan Co., Ltd - South Korea
- Bukit Asam (Persero) Tbk - Indonesia
- Star Paper Mills Limited - India
- Ind-Barath Power Infra Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Posco Energy - South Korea
- PetroVietnam Power Coal Import and Supply Company
- OPG Power Generation Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kalimantan Lumbung Energi - Indonesia
- Indian Energy Exchange, India
- Maheswari Brothers Coal Limited - India
- Standard Chartered Bank - UAE
- Power Finance Corporation Ltd., India
- Pendopo Energi Batubara - Indonesia
- Barasentosa Lestari - Indonesia
- Sindya Power Generating Company Private Ltd
- Kobexindo Tractors - Indoneisa
- GN Power Mariveles Coal Plant, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Semirara Mining and Power Corporation, Philippines
- Rio Tinto Coal - Australia
- Essar Steel Hazira Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- The University of Queensland
- Miang Besar Coal Terminal - Indonesia
- Makarim & Taira - Indonesia
- Medco Energi Mining Internasional
- Heidelberg Cement - Germany
- Jaiprakash Power Ventures ltd
- Manunggal Multi Energi - Indonesia
- GAC Shipping (India) Pvt Ltd
- Grasim Industreis Ltd - India
- Merrill Lynch Commodities Europe
- ASAPP Information Group - India
- Toyota Tsusho Corporation, Japan
- Larsen & Toubro Limited - India
- Carbofer General Trading SA - India
- Karaikal Port Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Energy Link Ltd, New Zealand
- Bangladesh Power Developement Board
- Binh Thuan Hamico - Vietnam
- Timah Investasi Mineral - Indoneisa
- Pipit Mutiara Jaya. PT, Indonesia
- Holcim Trading Pte Ltd - Singapore
- Lanco Infratech Ltd - India
- Georgia Ports Authority, United States
- Semirara Mining Corp, Philippines
- Formosa Plastics Group - Taiwan
- GMR Energy Limited - India
- Sarangani Energy Corporation, Philippines
- Wilmar Investment Holdings
- Riau Bara Harum - Indonesia
- Economic Council, Georgia
- India Bulls Power Limited - India
- Gujarat Sidhee Cement - India
- Indogreen Group - Indonesia
- The State Trading Corporation of India Ltd
- Sojitz Corporation - Japan
- Electricity Generating Authority of Thailand
- Ceylon Electricity Board - Sri Lanka
- GVK Power & Infra Limited - India
- Bhushan Steel Limited - India
- Mjunction Services Limited - India
- Therma Luzon, Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- Globalindo Alam Lestari - Indonesia
- Siam City Cement - Thailand
- Kepco SPC Power Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Sakthi Sugars Limited - India
- Kaltim Prima Coal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Ministry of Mines - Canada
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Salva Resources Pvt Ltd - India
- Australian Coal Association
- Xindia Steels Limited - India
- Coastal Gujarat Power Limited - India
- Chamber of Mines of South Africa
- Cigading International Bulk Terminal - Indonesia
- Latin American Coal - Colombia
- Dalmia Cement Bharat India
- San Jose City I Power Corp, Philippines
- Bukit Baiduri Energy - Indonesia
- Bhatia International Limited - India
- Sree Jayajothi Cements Limited - India
- Australian Commodity Traders Exchange
- Goldman Sachs - Singapore
- Kartika Selabumi Mining - Indonesia
- Global Coal Blending Company Limited - Australia
- Kumho Petrochemical, South Korea
- CNBM International Corporation - China
- Wood Mackenzie - Singapore
- Central Java Power - Indonesia
- MS Steel International - UAE
- Meenaskhi Energy Private Limited - India
- SN Aboitiz Power Inc, Philippines
- Straits Asia Resources Limited - Singapore
- Ministry of Transport, Egypt
- Independent Power Producers Association of India
- Bharathi Cement Corporation - India
- Kideco Jaya Agung - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Petron Corporation, Philippines
- Meralco Power Generation, Philippines
- IHS Mccloskey Coal Group - USA
- Agrawal Coal Company - India
- Jindal Steel & Power Ltd - India
- Marubeni Corporation - India
- Iligan Light & Power Inc, Philippines
- Indika Energy - Indonesia
- Anglo American - United Kingdom
- Baramulti Group, Indonesia
- Planning Commission, India
- Renaissance Capital - South Africa
- IEA Clean Coal Centre - UK
- Bukit Makmur.PT - Indonesia
- CIMB Investment Bank - Malaysia
- Neyveli Lignite Corporation Ltd, - India
- Billiton Holdings Pty Ltd - Australia
- Coalindo Energy - Indonesia
- Orica Mining Services - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Uttam Galva Steels Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Directorate General of MIneral and Coal - Indonesia
- SMG Consultants - Indonesia
- Siam City Cement PLC, Thailand
- Minerals Council of Australia
- Gujarat Electricity Regulatory Commission - India
- Parliament of New Zealand
- Videocon Industries ltd - India
- Port Waratah Coal Services - Australia
- Jorong Barutama Greston.PT - Indonesia
- European Bulk Services B.V. - Netherlands
- Savvy Resources Ltd - HongKong
- LBH Netherlands Bv - Netherlands
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