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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, 16 October 12
DRY BULK FREIGHT RATES COULD IMPROVE ON CHINESE STIMULUS AND WINTER CARGO DEMAND SAYS BIMCO - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
BIMCO has given out its forecast for the next six weeks, in terms of freight rates for dry bulk carriers. According to them, Capesize TC Average rat ...
Monday, 15 October 12
IT'S STRICTLY COME CHARTERING - CLARKSON RESEARCH SERVICES
The charter market is a bit of a dance between ship owner and charterer: one leader, one follower; one step, two steps, turn... The dance is symbiot ...
Sunday, 14 October 12
SUB-BIT INDONESIA COAL AND CFR SOUTH CHINA COAL SWAPS: SOFT
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for December 2012 delivery lost 0.329 percent w- w but gained 0.248 percent d-d on Friday, 12 Oct ...
Sunday, 14 October 12
SUPRAMAX FREIGHT STEADY: PANAMAX FREIGHTS FIRM - VISTAAR
COALspot.com - The shipping market saw some hectic activity in the Cape and panamax sector and quite a lot of fixtures reported.
The BDI was up b ...
Friday, 12 October 12
HOW REAL IS THE THREAT OF PIRACY? - BIMCO
The threat of modern piracy remains serious, regardless of its seasonal variations and the fact that it is chiefly confined to the Indian Ocean, Gul ...
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Showing 4536 to 4540 news of total 6871 |
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- Interocean Group of Companies - India
- AsiaOL BioFuels Corp., Philippines
- Electricity Authority, New Zealand
- Jaiprakash Power Ventures ltd
- Global Green Power PLC Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- PowerSource Philippines DevCo
- Indian Oil Corporation Limited
- The Treasury - Australian Government
- Karaikal Port Pvt Ltd - India
- Coal and Oil Company - UAE
- Australian Coal Association
- Kumho Petrochemical, South Korea
- Alfred C Toepfer International GmbH - Germany
- Bukit Makmur.PT - Indonesia
- Kideco Jaya Agung - Indonesia
- IEA Clean Coal Centre - UK
- Semirara Mining and Power Corporation, Philippines
- Ministry of Mines - Canada
- Agrawal Coal Company - India
- Wilmar Investment Holdings
- Xindia Steels Limited - India
- Meenaskhi Energy Private Limited - India
- IHS Mccloskey Coal Group - USA
- Straits Asia Resources Limited - Singapore
- Eastern Coal Council - USA
- Metalloyd Limited - United Kingdom
- Sindya Power Generating Company Private Ltd
- Uttam Galva Steels Limited - India
- San Jose City I Power Corp, Philippines
- Georgia Ports Authority, United States
- Globalindo Alam Lestari - Indonesia
- The State Trading Corporation of India Ltd
- Simpson Spence & Young - Indonesia
- Sical Logistics Limited - India
- Orica Mining Services - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Madhucon Powers Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- New Zealand Coal & Carbon
- Central Java Power - Indonesia
- Manunggal Multi Energi - Indonesia
- Singapore Mercantile Exchange
- Gujarat Sidhee Cement - India
- Mercuria Energy - Indonesia
- Edison Trading Spa - Italy
- Sinarmas Energy and Mining - Indonesia
- Indo Tambangraya Megah - Indonesia
- Toyota Tsusho Corporation, Japan
- Dalmia Cement Bharat India
- Rashtriya Ispat Nigam Limited - India
- South Luzon Thermal Energy Corporation
- Mercator Lines Limited - India
- Leighton Contractors Pty Ltd - Australia
- Therma Luzon, Inc, Philippines
- Aditya Birla Group - India
- Sakthi Sugars Limited - India
- Attock Cement Pakistan Limited
- Videocon Industries ltd - India
- European Bulk Services B.V. - Netherlands
- Ind-Barath Power Infra Limited - India
- Central Electricity Authority - India
- Indogreen Group - Indonesia
- Medco Energi Mining Internasional
- SMG Consultants - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Trasteel International SA, Italy
- Malabar Cements Ltd - India
- Parliament of New Zealand
- Pendopo Energi Batubara - Indonesia
- Merrill Lynch Commodities Europe
- Kepco SPC Power Corporation, Philippines
- Eastern Energy - Thailand
- Kobexindo Tractors - Indoneisa
- Star Paper Mills Limited - India
- Port Waratah Coal Services - Australia
- Ceylon Electricity Board - Sri Lanka
- Intertek Mineral Services - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Energy Development Corp, Philippines
- Independent Power Producers Association of India
- Africa Commodities Group - South Africa
- Global Business Power Corporation, Philippines
- Vizag Seaport Private Limited - India
- Holcim Trading Pte Ltd - Singapore
- Gujarat Electricity Regulatory Commission - India
- Global Coal Blending Company Limited - Australia
- Barasentosa Lestari - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ambuja Cements Ltd - India
- SMC Global Power, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Orica Australia Pty. Ltd.
- Krishnapatnam Port Company Ltd. - India
- Parry Sugars Refinery, India
- Chamber of Mines of South Africa
- International Coal Ventures Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Rio Tinto Coal - Australia
- Bayan Resources Tbk. - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Lanco Infratech Ltd - India
- OPG Power Generation Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Bhushan Steel Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sree Jayajothi Cements Limited - India
- Anglo American - United Kingdom
- Antam Resourcindo - Indonesia
- Maheswari Brothers Coal Limited - India
- Iligan Light & Power Inc, Philippines
- Semirara Mining Corp, Philippines
- PetroVietnam Power Coal Import and Supply Company
- GVK Power & Infra Limited - India
- Borneo Indobara - Indonesia
- Indonesian Coal Mining Association
- Minerals Council of Australia
- Chettinad Cement Corporation Ltd - India
- Bukit Baiduri Energy - Indonesia
- Mintek Dendrill Indonesia
- White Energy Company Limited
- Bhoruka Overseas - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Indika Energy - Indonesia
- Vedanta Resources Plc - India
- Electricity Generating Authority of Thailand
- MS Steel International - UAE
- Makarim & Taira - Indonesia
- Aboitiz Power Corporation - Philippines
- Grasim Industreis Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- GMR Energy Limited - India
- Formosa Plastics Group - Taiwan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Goldman Sachs - Singapore
- Posco Energy - South Korea
- Cement Manufacturers Association - India
- Oldendorff Carriers - Singapore
- VISA Power Limited - India
- Bulk Trading Sa - Switzerland
- Carbofer General Trading SA - India
- Siam City Cement PLC, Thailand
- Kartika Selabumi Mining - Indonesia
- Australian Commodity Traders Exchange
- Maharashtra Electricity Regulatory Commission - India
- The University of Queensland
- Kohat Cement Company Ltd. - Pakistan
- McConnell Dowell - Australia
- Deloitte Consulting - India
- Bhatia International Limited - India
- CIMB Investment Bank - Malaysia
- Meralco Power Generation, Philippines
- Wood Mackenzie - Singapore
- Kalimantan Lumbung Energi - Indonesia
- CNBM International Corporation - China
- Kaltim Prima Coal - Indonesia
- LBH Netherlands Bv - Netherlands
- Marubeni Corporation - India
- Energy Link Ltd, New Zealand
- SN Aboitiz Power Inc, Philippines
- Bangladesh Power Developement Board
- Tata Chemicals Ltd - India
- Baramulti Group, Indonesia
- Economic Council, Georgia
- Savvy Resources Ltd - HongKong
- Tamil Nadu electricity Board
- Salva Resources Pvt Ltd - India
- Latin American Coal - Colombia
- ICICI Bank Limited - India
- Banpu Public Company Limited - Thailand
- Larsen & Toubro Limited - India
- Coalindo Energy - Indonesia
- Standard Chartered Bank - UAE
- Mjunction Services Limited - India
- London Commodity Brokers - England
- Coastal Gujarat Power Limited - India
- Ministry of Transport, Egypt
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Riau Bara Harum - Indonesia
- PNOC Exploration Corporation - Philippines
- Ministry of Finance - Indonesia
- Romanian Commodities Exchange
- Binh Thuan Hamico - Vietnam
- Thiess Contractors Indonesia
- Siam City Cement - Thailand
- Neyveli Lignite Corporation Ltd, - India
- Billiton Holdings Pty Ltd - Australia
- Commonwealth Bank - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Thai Mozambique Logistica
- Indian Energy Exchange, India
- Petron Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- India Bulls Power Limited - India
- Planning Commission, India
- Heidelberg Cement - Germany
- Power Finance Corporation Ltd., India
- Sojitz Corporation - Japan
- Jindal Steel & Power Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- TeaM Sual Corporation - Philippines
- Miang Besar Coal Terminal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Karbindo Abesyapradhi - Indoneisa
- Timah Investasi Mineral - Indoneisa
- Gujarat Mineral Development Corp Ltd - India
- Renaissance Capital - South Africa
- Bharathi Cement Corporation - India
- Sarangani Energy Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Price Waterhouse Coopers - Russia
- PTC India Limited - India
- ASAPP Information Group - India
- Altura Mining Limited, Indonesia
- Directorate Of Revenue Intelligence - India
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