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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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Friday, 26 October 12
DRY BULK MARKET FALLS ON WORRIES THAT RECENT RALLY WILL BE SHORTLIVED - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market retreated yesterday as a result of a plunge of the Capesize dry bulk carriers' segment, after their latest rally. As a result, ...
Tuesday, 23 October 12
INDONESIA SETS DMO FOR NEXT YEAR
COALspot.com - The Indonesian government has declared the quantity of coal to be supplied to domestic market in 2013 recently under DMO regulation. ...
Sunday, 21 October 12
BUMA HAS PRODUCED 25.0 MILLION TONS OF COAL YEAR TO DATE
COALspot.com - PT Delta Dunia Makmur Tbk., has removed 33.2 million bcm* (+5.5% YoY) of Overburden in September 2012 totaled while coal produc ...
Saturday, 20 October 12
SUPRAMAX FREIGHT EXPECTED TO BE FLAT - VISTAAR
COALspot.com - The shipping market continued to be quite active with quite lot of cargoes fixed for in the cape and panamax sector.
The BDI was ...
Thursday, 18 October 12
INDO-INDIA, LARGE ECO SUPRA FIXED AT USD 11000 - FEARNLEYS AS
Handy
Atlantic market remains quiet due to lack of cargoes and more supply of ships. Rates from Cont to East Med were around USD 14k and Black Sea ...
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- Aditya Birla Group - India
- Energy Link Ltd, New Zealand
- Port Waratah Coal Services - Australia
- Larsen & Toubro Limited - India
- Straits Asia Resources Limited - Singapore
- Indian Oil Corporation Limited
- New Zealand Coal & Carbon
- Power Finance Corporation Ltd., India
- Sinarmas Energy and Mining - Indonesia
- Coastal Gujarat Power Limited - India
- Altura Mining Limited, Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Simpson Spence & Young - Indonesia
- Madhucon Powers Ltd - India
- Central Electricity Authority - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mercator Lines Limited - India
- Siam City Cement PLC, Thailand
- Grasim Industreis Ltd - India
- Banpu Public Company Limited - Thailand
- Bhushan Steel Limited - India
- Siam City Cement - Thailand
- Coalindo Energy - Indonesia
- Chamber of Mines of South Africa
- Kalimantan Lumbung Energi - Indonesia
- Ministry of Transport, Egypt
- Vijayanagar Sugar Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Renaissance Capital - South Africa
- Tata Chemicals Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sojitz Corporation - Japan
- Kaltim Prima Coal - Indonesia
- Parliament of New Zealand
- Central Java Power - Indonesia
- Wood Mackenzie - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Holcim Trading Pte Ltd - Singapore
- Manunggal Multi Energi - Indonesia
- GAC Shipping (India) Pvt Ltd
- Riau Bara Harum - Indonesia
- Salva Resources Pvt Ltd - India
- Planning Commission, India
- Romanian Commodities Exchange
- South Luzon Thermal Energy Corporation
- Parry Sugars Refinery, India
- Trasteel International SA, Italy
- Bangladesh Power Developement Board
- Vizag Seaport Private Limited - India
- Kepco SPC Power Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- SN Aboitiz Power Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Global Green Power PLC Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Iligan Light & Power Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Jorong Barutama Greston.PT - Indonesia
- Bharathi Cement Corporation - India
- Deloitte Consulting - India
- Billiton Holdings Pty Ltd - Australia
- Medco Energi Mining Internasional
- Bulk Trading Sa - Switzerland
- Chettinad Cement Corporation Ltd - India
- Sakthi Sugars Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Anglo American - United Kingdom
- Sical Logistics Limited - India
- OPG Power Generation Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- McConnell Dowell - Australia
- Merrill Lynch Commodities Europe
- Gujarat Electricity Regulatory Commission - India
- Krishnapatnam Port Company Ltd. - India
- Kobexindo Tractors - Indoneisa
- Formosa Plastics Group - Taiwan
- The Treasury - Australian Government
- Singapore Mercantile Exchange
- European Bulk Services B.V. - Netherlands
- Kohat Cement Company Ltd. - Pakistan
- Bahari Cakrawala Sebuku - Indonesia
- Agrawal Coal Company - India
- Globalindo Alam Lestari - Indonesia
- San Jose City I Power Corp, Philippines
- Aboitiz Power Corporation - Philippines
- Attock Cement Pakistan Limited
- Thiess Contractors Indonesia
- Latin American Coal - Colombia
- GMR Energy Limited - India
- Ambuja Cements Ltd - India
- Standard Chartered Bank - UAE
- Cigading International Bulk Terminal - Indonesia
- Xindia Steels Limited - India
- Pendopo Energi Batubara - Indonesia
- Sindya Power Generating Company Private Ltd
- Miang Besar Coal Terminal - Indonesia
- Wilmar Investment Holdings
- Kapuas Tunggal Persada - Indonesia
- Star Paper Mills Limited - India
- Makarim & Taira - Indonesia
- The State Trading Corporation of India Ltd
- Metalloyd Limited - United Kingdom
- Directorate Of Revenue Intelligence - India
- Malabar Cements Ltd - India
- Indika Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- IHS Mccloskey Coal Group - USA
- Rio Tinto Coal - Australia
- Eastern Coal Council - USA
- Barasentosa Lestari - Indonesia
- Indonesian Coal Mining Association
- Videocon Industries ltd - India
- SMG Consultants - Indonesia
- Africa Commodities Group - South Africa
- Leighton Contractors Pty Ltd - Australia
- Jindal Steel & Power Ltd - India
- Ministry of Finance - Indonesia
- Essar Steel Hazira Ltd - India
- LBH Netherlands Bv - Netherlands
- Meralco Power Generation, Philippines
- VISA Power Limited - India
- International Coal Ventures Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Bhoruka Overseas - Indonesia
- ICICI Bank Limited - India
- Semirara Mining and Power Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Borneo Indobara - Indonesia
- Dalmia Cement Bharat India
- Timah Investasi Mineral - Indoneisa
- Marubeni Corporation - India
- Sree Jayajothi Cements Limited - India
- Price Waterhouse Coopers - Russia
- Edison Trading Spa - Italy
- Thai Mozambique Logistica
- Global Business Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Kumho Petrochemical, South Korea
- Intertek Mineral Services - Indonesia
- Australian Coal Association
- GVK Power & Infra Limited - India
- Eastern Energy - Thailand
- Maheswari Brothers Coal Limited - India
- Ceylon Electricity Board - Sri Lanka
- Neyveli Lignite Corporation Ltd, - India
- Vedanta Resources Plc - India
- TNB Fuel Sdn Bhd - Malaysia
- Mjunction Services Limited - India
- Posco Energy - South Korea
- Semirara Mining Corp, Philippines
- CNBM International Corporation - China
- Mintek Dendrill Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Gujarat Sidhee Cement - India
- Georgia Ports Authority, United States
- Coal and Oil Company - UAE
- GN Power Mariveles Coal Plant, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Karaikal Port Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- PTC India Limited - India
- Mercuria Energy - Indonesia
- Cement Manufacturers Association - India
- Antam Resourcindo - Indonesia
- Therma Luzon, Inc, Philippines
- Minerals Council of Australia
- Ministry of Mines - Canada
- SMC Global Power, Philippines
- Savvy Resources Ltd - HongKong
- Baramulti Group, Indonesia
- Interocean Group of Companies - India
- Petron Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Bukit Baiduri Energy - Indonesia
- The University of Queensland
- Indogreen Group - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Heidelberg Cement - Germany
- Alfred C Toepfer International GmbH - Germany
- PowerSource Philippines DevCo
- Bhatia International Limited - India
- Ind-Barath Power Infra Limited - India
- India Bulls Power Limited - India
- Uttam Galva Steels Limited - India
- London Commodity Brokers - England
- PNOC Exploration Corporation - Philippines
- White Energy Company Limited
- Lanco Infratech Ltd - India
- Carbofer General Trading SA - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Rashtriya Ispat Nigam Limited - India
- Electricity Authority, New Zealand
- Commonwealth Bank - Australia
- Australian Commodity Traders Exchange
- Goldman Sachs - Singapore
- IEA Clean Coal Centre - UK
- Tamil Nadu electricity Board
- Economic Council, Georgia
- ASAPP Information Group - India
- Indo Tambangraya Megah - Indonesia
- Oldendorff Carriers - Singapore
- Bayan Resources Tbk. - Indonesia
- Energy Development Corp, Philippines
- Indian Energy Exchange, India
- Orica Mining Services - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Electricity Generating Authority of Thailand
- Kideco Jaya Agung - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Jaiprakash Power Ventures ltd
- Independent Power Producers Association of India
- AsiaOL BioFuels Corp., Philippines
- MS Steel International - UAE
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