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