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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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Sunday, 23 September 12
AN ANOTHER UNSTABLE WEEK FOR INDONESIAN COAL SWAPS
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for November 2012 delivery lost 1.10 percent and 0.916 percent WOW and DOD respectively ...
Sunday, 23 September 12
INDIA IMPORTED 11.40 PERCENT MORE INDONESIAN COAL IN AUGUST
COALspot.com: Indonesia, the world largest multi grade coal exporter, shipped 26,451,565* tons of coal in August 2012, compared to 27.88* mill ...
Saturday, 22 September 12
SOFT BUNKER PRICES KEEP INDONESIA TO INDIA FREIGHTS STABLE - VISTAAR
COALspot.com - The freight market overall remained buoyant with all indices up except for Panamax index. The main effect seems to be increased shipm ...
Friday, 21 September 12
SHIP BREAKING ACTIVITY REACHES NEW RECORDS, AS ALREADY 2012 LEVELS HAVE SURPASSED THE WHOLE OF 2011 - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The vast oversupply of vessels, most notably in the dry bulk shipping sector, has forced ship owners to intensify their efforts towards recycling th ...
Thursday, 20 September 12
SUPRAMAX : INDO-INDIA ROUNDS WERE AROUND USD 12K - FEARNLEYS
Handy
Not a bad week for Supramax tonnage, if we compare Supramax developments to the bigger size tonnage. The rates have basically remained unchan ...
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- Manunggal Multi Energi - Indonesia
- Samtan Co., Ltd - South Korea
- European Bulk Services B.V. - Netherlands
- Wilmar Investment Holdings
- Kartika Selabumi Mining - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Directorate Of Revenue Intelligence - India
- IEA Clean Coal Centre - UK
- Australian Commodity Traders Exchange
- Parry Sugars Refinery, India
- Standard Chartered Bank - UAE
- Vizag Seaport Private Limited - India
- Krishnapatnam Port Company Ltd. - India
- Africa Commodities Group - South Africa
- Carbofer General Trading SA - India
- PTC India Limited - India
- GAC Shipping (India) Pvt Ltd
- AsiaOL BioFuels Corp., Philippines
- Coastal Gujarat Power Limited - India
- Mercator Lines Limited - India
- Meralco Power Generation, Philippines
- Bukit Makmur.PT - Indonesia
- Bukit Baiduri Energy - Indonesia
- Borneo Indobara - Indonesia
- Orica Mining Services - Indonesia
- Globalindo Alam Lestari - Indonesia
- Vedanta Resources Plc - India
- Sree Jayajothi Cements Limited - India
- Timah Investasi Mineral - Indoneisa
- Eastern Energy - Thailand
- Videocon Industries ltd - India
- Kepco SPC Power Corporation, Philippines
- SMC Global Power, Philippines
- San Jose City I Power Corp, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Trasteel International SA, Italy
- Uttam Galva Steels Limited - India
- Thai Mozambique Logistica
- Jindal Steel & Power Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Tata Chemicals Ltd - India
- Coal and Oil Company - UAE
- Simpson Spence & Young - Indonesia
- Commonwealth Bank - Australia
- Alfred C Toepfer International GmbH - Germany
- Sical Logistics Limited - India
- Meenaskhi Energy Private Limited - India
- Ministry of Transport, Egypt
- Star Paper Mills Limited - India
- Kobexindo Tractors - Indoneisa
- Cigading International Bulk Terminal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- The State Trading Corporation of India Ltd
- Global Coal Blending Company Limited - Australia
- Edison Trading Spa - Italy
- Central Java Power - Indonesia
- Parliament of New Zealand
- Siam City Cement - Thailand
- Wood Mackenzie - Singapore
- Karaikal Port Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Rio Tinto Coal - Australia
- London Commodity Brokers - England
- Indika Energy - Indonesia
- Bulk Trading Sa - Switzerland
- VISA Power Limited - India
- Tamil Nadu electricity Board
- Central Electricity Authority - India
- Agrawal Coal Company - India
- Bangladesh Power Developement Board
- Coalindo Energy - Indonesia
- GVK Power & Infra Limited - India
- Aditya Birla Group - India
- Sindya Power Generating Company Private Ltd
- SMG Consultants - Indonesia
- Oldendorff Carriers - Singapore
- Ind-Barath Power Infra Limited - India
- Ambuja Cements Ltd - India
- The University of Queensland
- Pendopo Energi Batubara - Indonesia
- Ministry of Finance - Indonesia
- Bharathi Cement Corporation - India
- Australian Coal Association
- Petron Corporation, Philippines
- Orica Australia Pty. Ltd.
- Mintek Dendrill Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Sarangani Energy Corporation, Philippines
- Antam Resourcindo - Indonesia
- Heidelberg Cement - Germany
- Intertek Mineral Services - Indonesia
- Metalloyd Limited - United Kingdom
- Sinarmas Energy and Mining - Indonesia
- Riau Bara Harum - Indonesia
- CIMB Investment Bank - Malaysia
- Billiton Holdings Pty Ltd - Australia
- Global Business Power Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Semirara Mining Corp, Philippines
- Port Waratah Coal Services - Australia
- Gujarat Electricity Regulatory Commission - India
- Xindia Steels Limited - India
- Indonesian Coal Mining Association
- Neyveli Lignite Corporation Ltd, - India
- Dalmia Cement Bharat India
- CNBM International Corporation - China
- Altura Mining Limited, Indonesia
- Rashtriya Ispat Nigam Limited - India
- Baramulti Group, Indonesia
- Marubeni Corporation - India
- Romanian Commodities Exchange
- Petrochimia International Co. Ltd.- Taiwan
- Larsen & Toubro Limited - India
- Salva Resources Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Madhucon Powers Ltd - India
- Grasim Industreis Ltd - India
- Eastern Coal Council - USA
- Energy Development Corp, Philippines
- GMR Energy Limited - India
- Price Waterhouse Coopers - Russia
- Goldman Sachs - Singapore
- Mjunction Services Limited - India
- Maheswari Brothers Coal Limited - India
- Formosa Plastics Group - Taiwan
- Deloitte Consulting - India
- Siam City Cement PLC, Thailand
- Minerals Council of Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Iligan Light & Power Inc, Philippines
- Essar Steel Hazira Ltd - India
- Ministry of Mines - Canada
- Latin American Coal - Colombia
- IHS Mccloskey Coal Group - USA
- Power Finance Corporation Ltd., India
- Thiess Contractors Indonesia
- Chettinad Cement Corporation Ltd - India
- Electricity Generating Authority of Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Energy Link Ltd, New Zealand
- Directorate General of MIneral and Coal - Indonesia
- Indian Energy Exchange, India
- Toyota Tsusho Corporation, Japan
- Jaiprakash Power Ventures ltd
- Attock Cement Pakistan Limited
- Bhatia International Limited - India
- Mercuria Energy - Indonesia
- ICICI Bank Limited - India
- Barasentosa Lestari - Indonesia
- Aboitiz Power Corporation - Philippines
- White Energy Company Limited
- Kalimantan Lumbung Energi - Indonesia
- Planning Commission, India
- Makarim & Taira - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Electricity Authority, New Zealand
- Kaltim Prima Coal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Singapore Mercantile Exchange
- Leighton Contractors Pty Ltd - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Malabar Cements Ltd - India
- Georgia Ports Authority, United States
- Global Green Power PLC Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- ASAPP Information Group - India
- McConnell Dowell - Australia
- Indian Oil Corporation Limited
- Banpu Public Company Limited - Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Merrill Lynch Commodities Europe
- The Treasury - Australian Government
- Independent Power Producers Association of India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Chamber of Mines of South Africa
- New Zealand Coal & Carbon
- Interocean Group of Companies - India
- Anglo American - United Kingdom
- Bayan Resources Tbk. - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- MS Steel International - UAE
- TeaM Sual Corporation - Philippines
- Binh Thuan Hamico - Vietnam
- Gujarat Sidhee Cement - India
- PNOC Exploration Corporation - Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indogreen Group - Indonesia
- Ceylon Electricity Board - Sri Lanka
- India Bulls Power Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kumho Petrochemical, South Korea
- Renaissance Capital - South Africa
- TNB Fuel Sdn Bhd - Malaysia
- PetroVietnam Power Coal Import and Supply Company
- Economic Council, Georgia
- Straits Asia Resources Limited - Singapore
- Cement Manufacturers Association - India
- Bhushan Steel Limited - India
- Lanco Infratech Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Bhoruka Overseas - Indonesia
- Savvy Resources Ltd - HongKong
- Sakthi Sugars Limited - India
- Medco Energi Mining Internasional
- Karbindo Abesyapradhi - Indoneisa
- Posco Energy - South Korea
- South Luzon Thermal Energy Corporation
- Kohat Cement Company Ltd. - Pakistan
- Asmin Koalindo Tuhup - Indonesia
- Indo Tambangraya Megah - Indonesia
- Kideco Jaya Agung - Indonesia
- Sojitz Corporation - Japan
- PowerSource Philippines DevCo
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