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Tuesday, 04 October 11
COAL MINING GROUP WANTS EXPORT TAX, NOT EXCISE - JG
 One of the leading English news paper in Indonesia, The Jakarta Globe reported that, the government shall reimpose a duty on coal exports, classifying it as a good that has a negative impact instead of charging the commodity with excise, in hopes of boosting state revenue as well as securing domestic needs, according to an executive at the Indonesian Coal Mining Association (APBI).
Supriatna, the executive director of APBI, said on Sunday that the export duty would boost this year’s state revenue as Indonesia is expected to sell 76 percent of its coal output overseas, especially to Asia’s energy-demanding countries such as China, India, Japan and South Korea. APBI is projecting the nation’s coal production to reach 360 million tons this year, after output was 320 million tons in 2010.
Supriatna was optimistic that Indonesia, the world’s second-largest coal exporter after Australia, has strong bargaining power, and global consumers will buy coal even though the price may need to be adjusted if the additional tax takes effect. “Coal is primary energy, it is always needed,” Supriatna said on Sunday.
On Thursday, finance minister Agus Martowardojo set coal as one of 15 products – along with carbonated soft drinks; electric cigarettes; dyes, monosodium glutamate; and diamonds – that should be levied. Indonesia’s excise law says the government can impose excise, or a specific tax, on goods that have negative impact to humans or the environment.
Agung Kuswandono, director general of customs and excises at the finance ministry, said Tuesday that coal was charged as an excise object because of its potential to damage the environment from both its extraction and use. No other minerals have excise taxes.
Indonesia imposed a complex set of export taxes for crude palm oil, the rates of which vary with the international price, as producers seek to create added value to the commodity, apart from securing domestic demand.
Supriatna of APBI believes that should the government impose the tax, it will not hurt coal miners by passing on the costs to consumers. “It will be passed on to buyers. That won’t hurt us,” he said.
However, Supriatna was concerned about the impact to local buyers, including state utility company Perusahaan Listrik Negara, which is likely to bear the burden because electricity rates are fixed, and the company may not be able to pass on the higher costs – any change in utility rates is likely to become a lengthy process with legislators.
“The biggest consumer for domestic market would be PLN. They are building large coal-fired power plants,” Supriatna said.
He said that the government should proceed cautiously with the plan, as 70 percent of total coal mining contracts wouldn’t be affected because of a grandfather clause. Instead, he said, “there must be a renegotiation of contracts.”
The government is eyeing Rp 68.1 trillion in excise revenue in its 2011 revised budget, up 3 percent from last year’s Rp 66.2 trillion. The biggest excise contributor is cigarettes, followed by alcohol.
Source: The Jakarta Globe (Ririn Radiawati Kusuma)
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Friday, 18 September 20
INDIA'S COAL-FIRED POWER OUTPUT PICKS UP AS INDUSTRIAL USE RISES - REUTERS
India’s coal-fired electricity generation rose 9.4% in the first half of September, provisional government data showed, as demand from indust ...
Friday, 18 September 20
CHINA'S BENCHMARK POWER COAL PRICE EDGES UP - XINHUA
China’s benchmark power coal price rose slightly during the past week.
The Bohai-Rim Steam-Coal Price Index (BSPI), a gauge of ...
Thursday, 17 September 20
LAST HOPES FOR DEMAND GROWTH SET TO DISAPPOINT THERMAL COAL EXPORTERS - IEEFA
Asian thermal coal exporters are fighting an uphill battle even in new markets
The world’s largest thermal coal exporter is eyeing new m ...
Wednesday, 16 September 20
MARKET INSIGHT - INTERMODAL
Another active week in terms of SnP has concluded in the dry bulk market with a diversified array of transactions recorded. Despite the correction ...
Friday, 11 September 20
IMO 2020: A REVIEW OF THE TRANSITION TO VLSFOS - GARD
KNOWLEDGE TO ELEVATE
Many predictions were made in the run up to the imposition of the MARPOL 2020 sulphur cap, none of which was that the tra ...
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- Bhatia International Limited - India
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- Australian Commodity Traders Exchange
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- Kalimantan Lumbung Energi - Indonesia
- Indian Oil Corporation Limited
- Merrill Lynch Commodities Europe
- Energy Link Ltd, New Zealand
- Edison Trading Spa - Italy
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- GN Power Mariveles Coal Plant, Philippines
- Gujarat Mineral Development Corp Ltd - India
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- Tata Chemicals Ltd - India
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- Renaissance Capital - South Africa
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- Orica Australia Pty. Ltd.
- Directorate Of Revenue Intelligence - India
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- Mintek Dendrill Indonesia
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- Planning Commission, India
- Bukit Makmur.PT - Indonesia
- Energy Development Corp, Philippines
- Goldman Sachs - Singapore
- Barasentosa Lestari - Indonesia
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- White Energy Company Limited
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- Ministry of Mines - Canada
- Xindia Steels Limited - India
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- Bulk Trading Sa - Switzerland
- Price Waterhouse Coopers - Russia
- Power Finance Corporation Ltd., India
- Ministry of Finance - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Kobexindo Tractors - Indoneisa
- Petrochimia International Co. Ltd.- Taiwan
- Dalmia Cement Bharat India
- Standard Chartered Bank - UAE
- GAC Shipping (India) Pvt Ltd
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- Eastern Coal Council - USA
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- McConnell Dowell - Australia
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- Petron Corporation, Philippines
- Bharathi Cement Corporation - India
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- Jindal Steel & Power Ltd - India
- Chamber of Mines of South Africa
- Directorate General of MIneral and Coal - Indonesia
- CNBM International Corporation - China
- Kaltim Prima Coal - Indonesia
- London Commodity Brokers - England
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- Iligan Light & Power Inc, Philippines
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- Indian Energy Exchange, India
- The Treasury - Australian Government
- TNB Fuel Sdn Bhd - Malaysia
- Indonesian Coal Mining Association
- Siam City Cement PLC, Thailand
- European Bulk Services B.V. - Netherlands
- Aditya Birla Group - India
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- The State Trading Corporation of India Ltd
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- Salva Resources Pvt Ltd - India
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- Economic Council, Georgia
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- Minerals Council of Australia
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