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Saturday, 15 September 12
FINANCE MINISTRY OPPOSES TAX INCENTIVE PLAN FOR COAL MINERS - JP
 The Jakarta Post reported that, the Finance Ministry has turned down the idea of providing a fiscal incentive to the country’s coal mining industry which are now mostly facing financial difficulties due to the continued drop in coal prices.
“The royalty we receive from the coal mining industry is still small. There is no way for us to provide tax incentive for them,” Finance Ministry interim fiscal agency head Bambang Brodjonegoro told reporters Friday.
The idea of providing tax incentive to coal mining companies came from Deputy Energy and Mineral Resources Minister Rudi Rubiandini, who said Thursday that the government would need to provide fiscal incentives to ease coal miners’ financial hardship if the coal price fall continued.
He promised that the government would provide the tax incentive if the coal price continue to fall and reach US$60 per ton.
As of late last month, Indonesia’s coal reference price (HBA) fell to $84.65 per ton, declining 3.4 percent from $87.56 in July and 25 percent from its high of $112.87 in March.
Some of the country’s major coal producers have revised their annual target due to the declining coal prices.
For example, PT Adaro Energy, the nation’s second-largest thermal coal producer, has revised its annual production target for 2012 to between 48 million and 50 million metric tons, down from 50 million to 53 million tons.
PT Berau Coal Energy, a subsidiary of London-listed Bumi Plc., said it would also lower its production forecast to 20 million and 22 million tons, down from 23 million tons.
Institute for Essential Services Reform energy and mining expert Fabby Tumiwa said that he could not comprehend Rudi’s reasoning to provide tax incentives to the coal mining industry.
“The coal mining industry is a mature industry with a production of 350 million tons per year ... Over 8,000 licenses have been issued for coal companies. With these kinds of condition, I do not see any reason for the industry to receive a tax incentive,” Fabby said.
“If the main reasoning is the declining coal price rates, then it is not a good enough reason for the tax incentive. Commodity price fluctuates regularly and there is no need for the government to interfere in this commodity market mechanism,” he added.
“I believe what the government needs to do right now is to increase royalty from the coal mining industry because as of now, this industry’s royalty contribution has not yet been able to compensate the natural resource damages caused by massive coal exploitations,” he said further.
As of now, the state only receives around 13 percent of royalty from the coal mining industry’s total production. Based on the Supreme Audit Agency (BPK) audit data issued in April, the country suffered Rp 428 billion ($45.03 million) of coal royalty losses in 2011.
Fabby also said that the government also needed to better manage the coal mining industry in the country to prevent over-exploitation rather than pampering mining corporations using incentives.
“We need to have a coal export moratorium as soon as possible because currently, our reserve is depleting fast,” he said.
With the current production rate, Indonesia’s coal reserve, which stands at around 28 billion tons, could run out in around 20 years.
Source: The Jakarta Post
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Tuesday, 30 October 12
NEW BUILDING ORDERING ACTIVITY KEEPS ON RETREATING - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Ship owners have refrained from placing any new orders of vessels during the course of the past few days, according to shipbroker reports. According ...
Monday, 29 October 12
US COAL EXPORTS ARE EXPECTED TO REACH 125 MILLION TONS THIS YEAR - EIA
COALspot.com - US coal exports are expected to reach 125 million tons this year, surpassing the old record of about 113 million tons set in 1981, sa ...
Sunday, 28 October 12
SUB-BIT INDONESIA COAL SWAPS (FOB ) FOR DECEMBER 2012 DELIVERY STAYED FLAT D-D
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for December 2012 delivery flat on D-D but gained 0.38 percent on W-W on Friday, 26 October 2012, ...
Sunday, 28 October 12
INDONESIA TO INDIA SUPRAMAX FREIGHT MARKET FAIRLY STEADY - VISTAAR
COALspot.com - The Cape size sector continued to remain active with iron ore movement being steady. All other sectors were down.
The BDI was up b ...
Friday, 26 October 12
SHIPPING MARKETS HEADING FOR DIVISION AND MULTI-TIER WILL BECOME THE NORM - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
It seems that something is expected to be fundamentally different in the way that the shipping markets will be operating in the future, according to ...
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Showing 4526 to 4530 news of total 6871 |
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- Wood Mackenzie - Singapore
- Xindia Steels Limited - India
- Star Paper Mills Limited - India
- Leighton Contractors Pty Ltd - Australia
- PTC India Limited - India
- Binh Thuan Hamico - Vietnam
- Indo Tambangraya Megah - Indonesia
- Barasentosa Lestari - Indonesia
- Independent Power Producers Association of India
- Agrawal Coal Company - India
- McConnell Dowell - Australia
- Cigading International Bulk Terminal - Indonesia
- Vedanta Resources Plc - India
- Aditya Birla Group - India
- Mercuria Energy - Indonesia
- Minerals Council of Australia
- Renaissance Capital - South Africa
- Ministry of Mines - Canada
- Karaikal Port Pvt Ltd - India
- Sojitz Corporation - Japan
- Billiton Holdings Pty Ltd - Australia
- London Commodity Brokers - England
- Australian Commodity Traders Exchange
- Ind-Barath Power Infra Limited - India
- Grasim Industreis Ltd - India
- India Bulls Power Limited - India
- Uttam Galva Steels Limited - India
- VISA Power Limited - India
- Orica Australia Pty. Ltd.
- GN Power Mariveles Coal Plant, Philippines
- Iligan Light & Power Inc, Philippines
- New Zealand Coal & Carbon
- Vijayanagar Sugar Pvt Ltd - India
- PowerSource Philippines DevCo
- Asmin Koalindo Tuhup - Indonesia
- Vizag Seaport Private Limited - India
- Sinarmas Energy and Mining - Indonesia
- Coalindo Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Electricity Authority, New Zealand
- Indonesian Coal Mining Association
- South Luzon Thermal Energy Corporation
- SMG Consultants - Indonesia
- Global Coal Blending Company Limited - Australia
- Rio Tinto Coal - Australia
- Central Java Power - Indonesia
- Energy Link Ltd, New Zealand
- Sindya Power Generating Company Private Ltd
- IEA Clean Coal Centre - UK
- Eastern Energy - Thailand
- Meralco Power Generation, Philippines
- Port Waratah Coal Services - Australia
- Electricity Generating Authority of Thailand
- Economic Council, Georgia
- Deloitte Consulting - India
- Directorate Of Revenue Intelligence - India
- PetroVietnam Power Coal Import and Supply Company
- Attock Cement Pakistan Limited
- Sree Jayajothi Cements Limited - India
- AsiaOL BioFuels Corp., Philippines
- Neyveli Lignite Corporation Ltd, - India
- Kumho Petrochemical, South Korea
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bhatia International Limited - India
- MS Steel International - UAE
- TeaM Sual Corporation - Philippines
- Sarangani Energy Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Madhucon Powers Ltd - India
- Global Green Power PLC Corporation, Philippines
- Ministry of Transport, Egypt
- Kobexindo Tractors - Indoneisa
- Dalmia Cement Bharat India
- Central Electricity Authority - India
- Interocean Group of Companies - India
- CIMB Investment Bank - Malaysia
- Kalimantan Lumbung Energi - Indonesia
- Petron Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- SN Aboitiz Power Inc, Philippines
- Africa Commodities Group - South Africa
- TNB Fuel Sdn Bhd - Malaysia
- Aboitiz Power Corporation - Philippines
- Larsen & Toubro Limited - India
- Tamil Nadu electricity Board
- Bukit Asam (Persero) Tbk - Indonesia
- Straits Asia Resources Limited - Singapore
- Wilmar Investment Holdings
- Cement Manufacturers Association - India
- Meenaskhi Energy Private Limited - India
- Semirara Mining and Power Corporation, Philippines
- The University of Queensland
- Kohat Cement Company Ltd. - Pakistan
- Medco Energi Mining Internasional
- Metalloyd Limited - United Kingdom
- Heidelberg Cement - Germany
- Mercator Lines Limited - India
- Globalindo Alam Lestari - Indonesia
- Malabar Cements Ltd - India
- Lanco Infratech Ltd - India
- GMR Energy Limited - India
- Jaiprakash Power Ventures ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Banpu Public Company Limited - Thailand
- Global Business Power Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Ministry of Finance - Indonesia
- Savvy Resources Ltd - HongKong
- White Energy Company Limited
- Ceylon Electricity Board - Sri Lanka
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Directorate General of MIneral and Coal - Indonesia
- CNBM International Corporation - China
- Bahari Cakrawala Sebuku - Indonesia
- Gujarat Sidhee Cement - India
- The State Trading Corporation of India Ltd
- Indian Energy Exchange, India
- Bulk Trading Sa - Switzerland
- International Coal Ventures Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Alfred C Toepfer International GmbH - Germany
- Chettinad Cement Corporation Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Karbindo Abesyapradhi - Indoneisa
- Kepco SPC Power Corporation, Philippines
- Edison Trading Spa - Italy
- ICICI Bank Limited - India
- Carbofer General Trading SA - India
- Simpson Spence & Young - Indonesia
- Oldendorff Carriers - Singapore
- ASAPP Information Group - India
- Indogreen Group - Indonesia
- Holcim Trading Pte Ltd - Singapore
- San Jose City I Power Corp, Philippines
- Altura Mining Limited, Indonesia
- Sical Logistics Limited - India
- Bharathi Cement Corporation - India
- LBH Netherlands Bv - Netherlands
- Salva Resources Pvt Ltd - India
- Borneo Indobara - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Riau Bara Harum - Indonesia
- Bukit Makmur.PT - Indonesia
- Latin American Coal - Colombia
- Power Finance Corporation Ltd., India
- The Treasury - Australian Government
- Energy Development Corp, Philippines
- Baramulti Group, Indonesia
- Bangladesh Power Developement Board
- Jindal Steel & Power Ltd - India
- GAC Shipping (India) Pvt Ltd
- Thai Mozambique Logistica
- Antam Resourcindo - Indonesia
- Coastal Gujarat Power Limited - India
- Siam City Cement PLC, Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Essar Steel Hazira Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Singapore Mercantile Exchange
- Makarim & Taira - Indonesia
- Bukit Baiduri Energy - Indonesia
- Georgia Ports Authority, United States
- Semirara Mining Corp, Philippines
- Bhoruka Overseas - Indonesia
- Maheswari Brothers Coal Limited - India
- Orica Mining Services - Indonesia
- Sakthi Sugars Limited - India
- OPG Power Generation Pvt Ltd - India
- Posco Energy - South Korea
- Merrill Lynch Commodities Europe
- PNOC Exploration Corporation - Philippines
- Krishnapatnam Port Company Ltd. - India
- IHS Mccloskey Coal Group - USA
- Manunggal Multi Energi - Indonesia
- Trasteel International SA, Italy
- European Bulk Services B.V. - Netherlands
- Pendopo Energi Batubara - Indonesia
- Marubeni Corporation - India
- Anglo American - United Kingdom
- Parliament of New Zealand
- Standard Chartered Bank - UAE
- Kartika Selabumi Mining - Indonesia
- Videocon Industries ltd - India
- Australian Coal Association
- Miang Besar Coal Terminal - Indonesia
- Indian Oil Corporation Limited
- Mintek Dendrill Indonesia
- SMC Global Power, Philippines
- Thiess Contractors Indonesia
- Goldman Sachs - Singapore
- GVK Power & Infra Limited - India
- Chamber of Mines of South Africa
- Planning Commission, India
- Romanian Commodities Exchange
- Mjunction Services Limited - India
- Siam City Cement - Thailand
- Jorong Barutama Greston.PT - Indonesia
- Therma Luzon, Inc, Philippines
- Indika Energy - Indonesia
- Eastern Coal Council - USA
- Parry Sugars Refinery, India
- Ambuja Cements Ltd - India
- Toyota Tsusho Corporation, Japan
- Coal and Oil Company - UAE
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bhushan Steel Limited - India
- Commonwealth Bank - Australia
- Tata Chemicals Ltd - India
- Price Waterhouse Coopers - Russia
- Kaltim Prima Coal - Indonesia
- Intertek Mineral Services - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Samtan Co., Ltd - South Korea
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