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