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