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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, 16 September 12
GLOBAL LOW DEMAND ; INDONESIA COAL AND CFR SOUTH CHINA COAL SWAPS DIP
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for November 2012 delivery lost 1.345 percent W-O-W on Friday, 14 September 2012, closing but gai ...
Sunday, 16 September 12
THE FREIGHT RATES FROM INDONESIA TO INDIA EXPECTED TO BE STEADY - VISTAAR
COALspot.com - The freight market was mixed with most indices closing positive except for the Panamax index.
The main sentiment seems to be ...
Friday, 14 September 12
DRY BULK MARKET LOOKS TOWARDS CHINA FOR SOME POSITIVE NEWS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With the dry bulk market freight rates submerged underwater for a large part of the year, dry bulk owners are looking for some positive enhancement ...
Friday, 14 September 12
GOVT OFFERS CONDITIONAL TAX HOLIDAY TO AILING COAL MINERS - JP
The Jakarta Post, one of the leading English news paper in Indonesia reported that, acknowledging difficulties encountered by coal miners due to a p ...
Thursday, 13 September 12
PANAMAX: THE NEGATIVE TREND, POOR SENTIMENT CONTINUES - FEARNLEYS AS
Handy
Lack of cargoes and a growing list of available ships is causing rates to slip for all Atlantic trades.
The only trade keeping somewhat s ...
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- IHS Mccloskey Coal Group - USA
- Electricity Authority, New Zealand
- The University of Queensland
- Deloitte Consulting - India
- India Bulls Power Limited - India
- Rio Tinto Coal - Australia
- TeaM Sual Corporation - Philippines
- Bukit Makmur.PT - Indonesia
- European Bulk Services B.V. - Netherlands
- Therma Luzon, Inc, Philippines
- Thiess Contractors Indonesia
- Metalloyd Limited - United Kingdom
- Meralco Power Generation, Philippines
- Commonwealth Bank - Australia
- Sree Jayajothi Cements Limited - India
- Parry Sugars Refinery, India
- Edison Trading Spa - Italy
- Directorate Of Revenue Intelligence - India
- SN Aboitiz Power Inc, Philippines
- Bulk Trading Sa - Switzerland
- Billiton Holdings Pty Ltd - Australia
- Sindya Power Generating Company Private Ltd
- Heidelberg Cement - Germany
- Grasim Industreis Ltd - India
- Xindia Steels Limited - India
- GN Power Mariveles Coal Plant, Philippines
- ICICI Bank Limited - India
- Baramulti Group, Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Indian Oil Corporation Limited
- Vijayanagar Sugar Pvt Ltd - India
- GVK Power & Infra Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Sakthi Sugars Limited - India
- Kaltim Prima Coal - Indonesia
- Salva Resources Pvt Ltd - India
- Ministry of Mines - Canada
- Indogreen Group - Indonesia
- Central Electricity Authority - India
- Independent Power Producers Association of India
- Kumho Petrochemical, South Korea
- Pipit Mutiara Jaya. PT, Indonesia
- Thai Mozambique Logistica
- Carbofer General Trading SA - India
- Kepco SPC Power Corporation, Philippines
- Anglo American - United Kingdom
- GMR Energy Limited - India
- Leighton Contractors Pty Ltd - Australia
- Georgia Ports Authority, United States
- Coalindo Energy - Indonesia
- Tata Chemicals Ltd - India
- Borneo Indobara - Indonesia
- Medco Energi Mining Internasional
- Coal and Oil Company - UAE
- Gujarat Sidhee Cement - India
- Posco Energy - South Korea
- Eastern Coal Council - USA
- Maharashtra Electricity Regulatory Commission - India
- Altura Mining Limited, Indonesia
- Aditya Birla Group - India
- Bharathi Cement Corporation - India
- Rashtriya Ispat Nigam Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Wood Mackenzie - Singapore
- Planning Commission, India
- Central Java Power - Indonesia
- Binh Thuan Hamico - Vietnam
- Mercator Lines Limited - India
- Kartika Selabumi Mining - Indonesia
- Electricity Generating Authority of Thailand
- Larsen & Toubro Limited - India
- Orica Australia Pty. Ltd.
- Bank of Tokyo Mitsubishi UFJ Ltd
- CIMB Investment Bank - Malaysia
- Kobexindo Tractors - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- Iligan Light & Power Inc, Philippines
- Banpu Public Company Limited - Thailand
- Coastal Gujarat Power Limited - India
- Aboitiz Power Corporation - Philippines
- Romanian Commodities Exchange
- Ind-Barath Power Infra Limited - India
- SMG Consultants - Indonesia
- Siam City Cement - Thailand
- Barasentosa Lestari - Indonesia
- Formosa Plastics Group - Taiwan
- CNBM International Corporation - China
- Lanco Infratech Ltd - India
- Indo Tambangraya Megah - Indonesia
- South Luzon Thermal Energy Corporation
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indian Energy Exchange, India
- Kalimantan Lumbung Energi - Indonesia
- Ministry of Transport, Egypt
- LBH Netherlands Bv - Netherlands
- Semirara Mining and Power Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Renaissance Capital - South Africa
- Port Waratah Coal Services - Australia
- Siam City Cement PLC, Thailand
- Price Waterhouse Coopers - Russia
- Orica Mining Services - Indonesia
- Singapore Mercantile Exchange
- Manunggal Multi Energi - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Sinarmas Energy and Mining - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Petron Corporation, Philippines
- Antam Resourcindo - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Wilmar Investment Holdings
- OPG Power Generation Pvt Ltd - India
- Latin American Coal - Colombia
- Goldman Sachs - Singapore
- Mjunction Services Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- VISA Power Limited - India
- New Zealand Coal & Carbon
- Pendopo Energi Batubara - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- White Energy Company Limited
- AsiaOL BioFuels Corp., Philippines
- Global Green Power PLC Corporation, Philippines
- Energy Development Corp, Philippines
- Bhatia International Limited - India
- Marubeni Corporation - India
- Sarangani Energy Corporation, Philippines
- Videocon Industries ltd - India
- Eastern Energy - Thailand
- Chamber of Mines of South Africa
- Global Business Power Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- PowerSource Philippines DevCo
- Intertek Mineral Services - Indonesia
- Economic Council, Georgia
- MS Steel International - UAE
- Savvy Resources Ltd - HongKong
- SMC Global Power, Philippines
- Power Finance Corporation Ltd., India
- Global Coal Blending Company Limited - Australia
- Krishnapatnam Port Company Ltd. - India
- Parliament of New Zealand
- Semirara Mining Corp, Philippines
- Standard Chartered Bank - UAE
- Dalmia Cement Bharat India
- McConnell Dowell - Australia
- Jindal Steel & Power Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bhushan Steel Limited - India
- Miang Besar Coal Terminal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Australian Coal Association
- Merrill Lynch Commodities Europe
- Agrawal Coal Company - India
- Timah Investasi Mineral - Indoneisa
- Indika Energy - Indonesia
- Interocean Group of Companies - India
- Straits Asia Resources Limited - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Oldendorff Carriers - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Trasteel International SA, Italy
- Indonesian Coal Mining Association
- GAC Shipping (India) Pvt Ltd
- Meenaskhi Energy Private Limited - India
- Bukit Baiduri Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Energy Link Ltd, New Zealand
- Essar Steel Hazira Ltd - India
- Simpson Spence & Young - Indonesia
- Globalindo Alam Lestari - Indonesia
- Kideco Jaya Agung - Indonesia
- Uttam Galva Steels Limited - India
- Vedanta Resources Plc - India
- Madhucon Powers Ltd - India
- Sojitz Corporation - Japan
- London Commodity Brokers - England
- Ambuja Cements Ltd - India
- Australian Commodity Traders Exchange
- Neyveli Lignite Corporation Ltd, - India
- Sical Logistics Limited - India
- Toyota Tsusho Corporation, Japan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- ASAPP Information Group - India
- The State Trading Corporation of India Ltd
- Samtan Co., Ltd - South Korea
- Mintek Dendrill Indonesia
- Cement Manufacturers Association - India
- Malabar Cements Ltd - India
- The Treasury - Australian Government
- IEA Clean Coal Centre - UK
- Bhoruka Overseas - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Riau Bara Harum - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Gujarat Mineral Development Corp Ltd - India
- Tamil Nadu electricity Board
- Alfred C Toepfer International GmbH - Germany
- Africa Commodities Group - South Africa
- Makarim & Taira - Indonesia
- Star Paper Mills Limited - India
- San Jose City I Power Corp, Philippines
- Maheswari Brothers Coal Limited - India
- Mercuria Energy - Indonesia
- Attock Cement Pakistan Limited
- Vizag Seaport Private Limited - India
- Ministry of Finance - Indonesia
- PNOC Exploration Corporation - Philippines
- Jaiprakash Power Ventures ltd
- Bangladesh Power Developement Board
- Bayan Resources Tbk. - Indonesia
- Minerals Council of Australia
- PTC India Limited - India
- Holcim Trading Pte Ltd - Singapore
- Karaikal Port Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
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