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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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Monday, 10 September 12
DRY BULK MARKET SLOWLY BUT SURELY REACHING CRITICAL STATUS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The radical consequences of the shifts in dry bulk demand and prices, especially for the most sought after commodity, concerning the industry, i.e. ...
Monday, 10 September 12
ORPHEUS ENERGY SECURES INDONESIAN COAL TRADING LICENSE
COALspot.com - Indonesian coal producer, Orpheus Energy (ASX:OEG) has announced today that the Indonesian Ministry of Energy and Mineral Resources h ...
Monday, 10 September 12
A SNAPSHOT ON THE ECONOMIC AND SHIPPING ENVIRONMENT - GOLDEN DESTINY / HELLENIC SHIPPING
The European Central Bank left its interest rate unchanged at 0.75% focusing on pushing down borrowing costs in troubled economies, Spain and Italy. ...
Sunday, 09 September 12
H213 SUB-BIT FOB INDONESIA COAL SWAPS ARE TRADING HIGHER
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for October 2012 delivery lost 0.14 percent W-O-W on 7 September 2012, Friday closing but gained ...
Saturday, 08 September 12
INDO INDIA ROUTE FREIGHT FOR SUPRAMAX REMAINS STRONG - CAPT. REDDY
COALspot.com - The freight market overall remained weak and except for cape index all other sectors were down. The biggest drop was in the Panamax s ...
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- Directorate Of Revenue Intelligence - India
- Gujarat Electricity Regulatory Commission - India
- Kalimantan Lumbung Energi - Indonesia
- Kideco Jaya Agung - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Essar Steel Hazira Ltd - India
- San Jose City I Power Corp, Philippines
- Mjunction Services Limited - India
- Global Business Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Global Coal Blending Company Limited - Australia
- New Zealand Coal & Carbon
- Thai Mozambique Logistica
- Independent Power Producers Association of India
- Anglo American - United Kingdom
- Eastern Coal Council - USA
- Bhoruka Overseas - Indonesia
- Petron Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Merrill Lynch Commodities Europe
- Tamil Nadu electricity Board
- TNB Fuel Sdn Bhd - Malaysia
- Orica Mining Services - Indonesia
- Ministry of Mines - Canada
- Pipit Mutiara Jaya. PT, Indonesia
- Posco Energy - South Korea
- Mercator Lines Limited - India
- Star Paper Mills Limited - India
- Attock Cement Pakistan Limited
- Riau Bara Harum - Indonesia
- Bukit Baiduri Energy - Indonesia
- Carbofer General Trading SA - India
- Videocon Industries ltd - India
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- Electricity Authority, New Zealand
- Larsen & Toubro Limited - India
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- Coal and Oil Company - UAE
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- Wilmar Investment Holdings
- Toyota Tsusho Corporation, Japan
- Jindal Steel & Power Ltd - India
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- Meenaskhi Energy Private Limited - India
- Energy Link Ltd, New Zealand
- GVK Power & Infra Limited - India
- Tata Chemicals Ltd - India
- Bangladesh Power Developement Board
- Ceylon Electricity Board - Sri Lanka
- Kobexindo Tractors - Indoneisa
- Australian Coal Association
- Therma Luzon, Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Antam Resourcindo - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Rio Tinto Coal - Australia
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- Latin American Coal - Colombia
- International Coal Ventures Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Parry Sugars Refinery, India
- Maharashtra Electricity Regulatory Commission - India
- Savvy Resources Ltd - HongKong
- Alfred C Toepfer International GmbH - Germany
- Binh Thuan Hamico - Vietnam
- Gujarat Mineral Development Corp Ltd - India
- Grasim Industreis Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- OPG Power Generation Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Rashtriya Ispat Nigam Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Africa Commodities Group - South Africa
- Bulk Trading Sa - Switzerland
- Lanco Infratech Ltd - India
- Ministry of Finance - Indonesia
- Meralco Power Generation, Philippines
- Timah Investasi Mineral - Indoneisa
- Heidelberg Cement - Germany
- Offshore Bulk Terminal Pte Ltd, Singapore
- Aditya Birla Group - India
- Price Waterhouse Coopers - Russia
- GN Power Mariveles Coal Plant, Philippines
- Straits Asia Resources Limited - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- TeaM Sual Corporation - Philippines
- Madhucon Powers Ltd - India
- Central Java Power - Indonesia
- Electricity Generating Authority of Thailand
- Kohat Cement Company Ltd. - Pakistan
- Bhushan Steel Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Sindya Power Generating Company Private Ltd
- Miang Besar Coal Terminal - Indonesia
- Bharathi Cement Corporation - India
- Karaikal Port Pvt Ltd - India
- MS Steel International - UAE
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- London Commodity Brokers - England
- McConnell Dowell - Australia
- Vizag Seaport Private Limited - India
- Parliament of New Zealand
- Indo Tambangraya Megah - Indonesia
- Intertek Mineral Services - Indonesia
- Chamber of Mines of South Africa
- Makarim & Taira - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Singapore Mercantile Exchange
- Kepco SPC Power Corporation, Philippines
- Borneo Indobara - Indonesia
- Thiess Contractors Indonesia
- Simpson Spence & Young - Indonesia
- Orica Australia Pty. Ltd.
- The University of Queensland
- Sree Jayajothi Cements Limited - India
- Sojitz Corporation - Japan
- Agrawal Coal Company - India
- Xindia Steels Limited - India
- Metalloyd Limited - United Kingdom
- Energy Development Corp, Philippines
- Power Finance Corporation Ltd., India
- Cement Manufacturers Association - India
- Pendopo Energi Batubara - Indonesia
- Kaltim Prima Coal - Indonesia
- Banpu Public Company Limited - Thailand
- Indian Energy Exchange, India
- Bayan Resources Tbk. - Indonesia
- Chettinad Cement Corporation Ltd - India
- Formosa Plastics Group - Taiwan
- Maheswari Brothers Coal Limited - India
- Uttam Galva Steels Limited - India
- Salva Resources Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Central Electricity Authority - India
- GMR Energy Limited - India
- Global Green Power PLC Corporation, Philippines
- SMG Consultants - Indonesia
- Kapuas Tunggal Persada - Indonesia
- South Luzon Thermal Energy Corporation
- Globalindo Alam Lestari - Indonesia
- Medco Energi Mining Internasional
- Ambuja Cements Ltd - India
- PowerSource Philippines DevCo
- Altura Mining Limited, Indonesia
- Baramulti Group, Indonesia
- Barasentosa Lestari - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Oldendorff Carriers - Singapore
- Indika Energy - Indonesia
- Kumho Petrochemical, South Korea
- Bhatia International Limited - India
- SN Aboitiz Power Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mercuria Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Interocean Group of Companies - India
- Minerals Council of Australia
- Ind-Barath Power Infra Limited - India
- Malabar Cements Ltd - India
- Goldman Sachs - Singapore
- The State Trading Corporation of India Ltd
- Standard Chartered Bank - UAE
- Mintek Dendrill Indonesia
- The Treasury - Australian Government
- Trasteel International SA, Italy
- ICICI Bank Limited - India
- Australian Commodity Traders Exchange
- Marubeni Corporation - India
- Jorong Barutama Greston.PT - Indonesia
- Samtan Co., Ltd - South Korea
- Coastal Gujarat Power Limited - India
- Jaiprakash Power Ventures ltd
- GAC Shipping (India) Pvt Ltd
- Siam City Cement - Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- White Energy Company Limited
- IHS Mccloskey Coal Group - USA
- Commonwealth Bank - Australia
- Siam City Cement PLC, Thailand
- SMC Global Power, Philippines
- Romanian Commodities Exchange
- Renaissance Capital - South Africa
- Leighton Contractors Pty Ltd - Australia
- Indian Oil Corporation Limited
- Iligan Light & Power Inc, Philippines
- Indonesian Coal Mining Association
- Deloitte Consulting - India
- Wood Mackenzie - Singapore
- Bukit Makmur.PT - Indonesia
- CIMB Investment Bank - Malaysia
- Eastern Energy - Thailand
- PetroVietnam Power Coal Import and Supply Company
- Economic Council, Georgia
- Ministry of Transport, Egypt
- Neyveli Lignite Corporation Ltd, - India
- LBH Netherlands Bv - Netherlands
- Coalindo Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Aboitiz Power Corporation - Philippines
- Cigading International Bulk Terminal - Indonesia
- Port Waratah Coal Services - Australia
- Sarangani Energy Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- CNBM International Corporation - China
- Dalmia Cement Bharat India
- Georgia Ports Authority, United States
- IEA Clean Coal Centre - UK
- Asmin Koalindo Tuhup - Indonesia
- European Bulk Services B.V. - Netherlands
- Sical Logistics Limited - India
- Edison Trading Spa - Italy
- Planning Commission, India
- Sakthi Sugars Limited - India
- PTC India Limited - India
- Krishnapatnam Port Company Ltd. - India
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