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Monday, 03 May 10
AUSTRALIA PLANS 40 PERCENT TAX ON MINING PROFITS - THE JAKARTA POST
 The Jakarta Post reported that, Australia would heavily tax the booming profits of its mining companies under a tax system overhaul proposed Sunday that also would invest in infrastructure to support mining operations and reduce corporate taxes.
The new 40 percent tax on resoure profits targets industries that have grown rapidly as they've produced the raw materials that feed burgeoning Chinese and Indian manufacturing demand.
Mining royalties currently paid to Australian state governments do not reflect rising commodity prices. The government says mining profits rose by 80 billion Australian dollars ($74 billion) in the past decade, yet government revenues from resources increased by only AU$9 billion.
Andrew Forres, chief executive of Fortescue Metals Group Ltd., last week warned that higher taxes on mining could "kill the golden goose" that had kept Australia out of recession during the global economic downturn. Mine companies also say higher taxes would stifle investment in the resource sector and cost jobs.
Thetax overhaul Prime Minister Kevin Rudd proposes requires Parliament's endorsement to become law. It would introduce the so-called Resource Super Profits Tax in July 2012. The company tax rate would be cut from 30 percent to 29 percent in July 2013 and to 28 percent a year later.
The government forecasts tht the cut in company tax combined with the mining tax will increase Australia's gross domestic product by 0.7 percent a year.
"These changes will not be welcomed by every business or every interest group, but they are the considered, responsible changes we need if we are to turn our success during the gloal recession into enduring gains for our economy, our people and our nation," Rudd said in a statement.
Treasurer Wayne Swan told reporters he could not say whether tax legislation would be introduced to Parliament before national elections are held at a date to be set late this year.
Under the tax overhaul, resource-rich states would continue to reap mining royalties, but the federal government would refund those costs to mining companies before calculating their federal tax debt.
The tax would be levied on profits after all the costs of mining operations, capital investment and dividends to shareholders are deducted.
Marginally viable mine companies would potentially be better off in cases where the costs of extracting minerals barely cover royalty charges because of a price downturn or when the ore deposit is almost exhausted.
About AU$5.6 billion of the mining tax revenue would be spent over a decade on public infrastructure critical to the industry such as ports, rail and roads.
The government argues the tax shift would prevent a "two-speed economy" emerging in Australia where non-resource industries such as manufacturing, construction and tourism cannot attract investment or staff because they cannot afford to match the lucrative wages offered by the mining industry.
Also as part of the tax overhaul, the government would increase the proportion of salaries that Australian workers must save for their retirements from the current rate of 9 percent to 12 percent by 2020.
Source: The Jakarta Post
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Wednesday, 15 December 10
LARGE ORDERBOOK TO HINDER 2011 DRY BULK MARKET REBOUND DESPITE INCREASED DEMAND SAYS PARAGON SHIPPING - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
A large orderbook which currently stands at 53% of the existing fleet is expected to render 2011 another challenging year for the dry bulk marke ...
Wednesday, 15 December 10
SMALLER DRY BULK VESSELS ARE LOOKING UP, LARGER ONES FAIL TO DELIVER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market lost further ground at the beginning of the week, in what could prove one of the slowest periods ship owners have been faced. Ye ...
Tuesday, 14 December 10
COAL IMPORTS MAY INCREASE 78% TO CHINA, INDIA: ENERGY MARKETS - BUSINESS WEEK
Business Week reported that, China and India may increase imports of coal by 78 percent to 337 million metric tons next year, further driving up pri ...
Tuesday, 14 December 10
BANPU PLANNING PRODUCTION BOOM - BANGKOK POST
Australian, Indonesian output to lead growth
Bangkok Post reported that, Banpu Plc, Asean's largest coal miner, wants to nearly double its coal ...
Tuesday, 14 December 10
THE FREIGHT RATES FROM INDONESIA TO INDIA AND CHINA REMAINED FIRM - CAPT. REDDY
COALspot.com - The freight market continued to be soft with the Cape sector most effected which was down by 289 points and closed at 2,694 poi ...
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- Neyveli Lignite Corporation Ltd, - India
- GVK Power & Infra Limited - India
- Interocean Group of Companies - India
- Indogreen Group - Indonesia
- SN Aboitiz Power Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bangladesh Power Developement Board
- SMC Global Power, Philippines
- Metalloyd Limited - United Kingdom
- Leighton Contractors Pty Ltd - Australia
- Planning Commission, India
- Parry Sugars Refinery, India
- Eastern Coal Council - USA
- Antam Resourcindo - Indonesia
- Straits Asia Resources Limited - Singapore
- Krishnapatnam Port Company Ltd. - India
- PowerSource Philippines DevCo
- Rio Tinto Coal - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Siam City Cement - Thailand
- TeaM Sual Corporation - Philippines
- Ministry of Mines - Canada
- Cigading International Bulk Terminal - Indonesia
- Maheswari Brothers Coal Limited - India
- Malabar Cements Ltd - India
- Samtan Co., Ltd - South Korea
- Global Coal Blending Company Limited - Australia
- Posco Energy - South Korea
- Agrawal Coal Company - India
- Pendopo Energi Batubara - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Africa Commodities Group - South Africa
- Barasentosa Lestari - Indonesia
- Meenaskhi Energy Private Limited - India
- Mercator Lines Limited - India
- Electricity Generating Authority of Thailand
- Petron Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Orica Mining Services - Indonesia
- Deloitte Consulting - India
- Aditya Birla Group - India
- Coalindo Energy - Indonesia
- Bukit Baiduri Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- The State Trading Corporation of India Ltd
- Ambuja Cements Ltd - India
- Economic Council, Georgia
- Indo Tambangraya Megah - Indonesia
- Sical Logistics Limited - India
- Timah Investasi Mineral - Indoneisa
- Grasim Industreis Ltd - India
- Ministry of Finance - Indonesia
- Ceylon Electricity Board - Sri Lanka
- White Energy Company Limited
- VISA Power Limited - India
- Thai Mozambique Logistica
- International Coal Ventures Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Savvy Resources Ltd - HongKong
- Manunggal Multi Energi - Indonesia
- Sarangani Energy Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Mjunction Services Limited - India
- GMR Energy Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- GN Power Mariveles Coal Plant, Philippines
- Banpu Public Company Limited - Thailand
- Australian Commodity Traders Exchange
- IHS Mccloskey Coal Group - USA
- Makarim & Taira - Indonesia
- Dalmia Cement Bharat India
- Cement Manufacturers Association - India
- Vedanta Resources Plc - India
- Georgia Ports Authority, United States
- Edison Trading Spa - Italy
- AsiaOL BioFuels Corp., Philippines
- Semirara Mining and Power Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Jindal Steel & Power Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Price Waterhouse Coopers - Russia
- Asmin Koalindo Tuhup - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Karaikal Port Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Energy Development Corp, Philippines
- Tamil Nadu electricity Board
- New Zealand Coal & Carbon
- Anglo American - United Kingdom
- Gujarat Mineral Development Corp Ltd - India
- Merrill Lynch Commodities Europe
- Gujarat Sidhee Cement - India
- Renaissance Capital - South Africa
- Sree Jayajothi Cements Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Orica Australia Pty. Ltd.
- Videocon Industries ltd - India
- Larsen & Toubro Limited - India
- Lanco Infratech Ltd - India
- Sindya Power Generating Company Private Ltd
- PTC India Limited - India
- Global Green Power PLC Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Pipit Mutiara Jaya. PT, Indonesia
- Toyota Tsusho Corporation, Japan
- Electricity Authority, New Zealand
- Coal and Oil Company - UAE
- Independent Power Producers Association of India
- Sakthi Sugars Limited - India
- Holcim Trading Pte Ltd - Singapore
- Central Electricity Authority - India
- Eastern Energy - Thailand
- Coastal Gujarat Power Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Indian Energy Exchange, India
- Indika Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- PNOC Exploration Corporation - Philippines
- Billiton Holdings Pty Ltd - Australia
- Tata Chemicals Ltd - India
- Directorate Of Revenue Intelligence - India
- Therma Luzon, Inc, Philippines
- Trasteel International SA, Italy
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Meralco Power Generation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Goldman Sachs - Singapore
- London Commodity Brokers - England
- IEA Clean Coal Centre - UK
- Mercuria Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Borneo Indobara - Indonesia
- Romanian Commodities Exchange
- Essar Steel Hazira Ltd - India
- Wood Mackenzie - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indian Oil Corporation Limited
- CIMB Investment Bank - Malaysia
- OPG Power Generation Pvt Ltd - India
- Latin American Coal - Colombia
- Bharathi Cement Corporation - India
- Bukit Makmur.PT - Indonesia
- Bhushan Steel Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- MS Steel International - UAE
- Chettinad Cement Corporation Ltd - India
- GAC Shipping (India) Pvt Ltd
- Riau Bara Harum - Indonesia
- European Bulk Services B.V. - Netherlands
- Siam City Cement PLC, Thailand
- SMG Consultants - Indonesia
- Aboitiz Power Corporation - Philippines
- Heidelberg Cement - Germany
- Attock Cement Pakistan Limited
- South Luzon Thermal Energy Corporation
- The Treasury - Australian Government
- Uttam Galva Steels Limited - India
- Intertek Mineral Services - Indonesia
- ICICI Bank Limited - India
- Power Finance Corporation Ltd., India
- Gujarat Electricity Regulatory Commission - India
- Medco Energi Mining Internasional
- Xindia Steels Limited - India
- Carbofer General Trading SA - India
- ASAPP Information Group - India
- Singapore Mercantile Exchange
- Jaiprakash Power Ventures ltd
- Ministry of Transport, Egypt
- Thiess Contractors Indonesia
- Kepco SPC Power Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Global Business Power Corporation, Philippines
- Sojitz Corporation - Japan
- Ind-Barath Power Infra Limited - India
- Parliament of New Zealand
- Port Waratah Coal Services - Australia
- Karbindo Abesyapradhi - Indoneisa
- Chamber of Mines of South Africa
- Kaltim Prima Coal - Indonesia
- The University of Queensland
- TNB Fuel Sdn Bhd - Malaysia
- Madhucon Powers Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Globalindo Alam Lestari - Indonesia
- McConnell Dowell - Australia
- Standard Chartered Bank - UAE
- Australian Coal Association
- Kumho Petrochemical, South Korea
- Kartika Selabumi Mining - Indonesia
- Wilmar Investment Holdings
- San Jose City I Power Corp, Philippines
- Simpson Spence & Young - Indonesia
- LBH Netherlands Bv - Netherlands
- Mintek Dendrill Indonesia
- Kobexindo Tractors - Indoneisa
- Oldendorff Carriers - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bhoruka Overseas - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Bayan Resources Tbk. - Indonesia
- Marubeni Corporation - India
- Minerals Council of Australia
- Star Paper Mills Limited - India
- Energy Link Ltd, New Zealand
- Commonwealth Bank - Australia
- Vizag Seaport Private Limited - India
- CNBM International Corporation - China
- Baramulti Group, Indonesia
- Bhatia International Limited - India
- Indonesian Coal Mining Association
- Salva Resources Pvt Ltd - India
- Central Java Power - Indonesia
- India Bulls Power Limited - India
- Altura Mining Limited, Indonesia
- Sinarmas Energy and Mining - Indonesia
- Iligan Light & Power Inc, Philippines
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