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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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Tuesday, 26 October 10
INDONESIA SHIPPED 5.32 PERCENT LESS COAL IN SEPTEMBER 10
COALspot.com: Indonesia, the world largest coal exporter, shipped 21,661,817 MT of coal in September 2010, which is 5.32 percent lesser than Au ...
Tuesday, 26 October 10
DRY BULK MARKET TO KEEP RISING THIS WEEK ON STRONG CHINESE IRON ORE AND THERMAL COAL DEMAND - HELLENIC SHIPPING
Overcapacitated or not, the dry bulk market keeps its positive momentum as we move forward this week, with the Baltic Dry Index (BDI) rising by 0.77 ...
Monday, 25 October 10
TWO CHINESE COMPANIES INK DEAL TO TAP AUSSIE COAL RESERVES
China Daily reportd that, two Chinese coal firms have teamed up to explore and develop coal resources in an area in Australia that has forecast rese ...
Monday, 25 October 10
DRY BULK MARKET STILL HEAVILY DEPENDENT ON CHINA, POSTS SMALL WEEKLY LOSS OF 1.27% - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With every twitch and turn from China’s metals industry, the dry bulk market is disproportionally affected, as evidenced by the course of the ...
Sunday, 24 October 10
SUPRAMAX VESSELS BEING FIXED AROUND $ 15 K PER DAY DELIVERY N. CHINA FOR TRIP VIA INDONESIA TO INDIA - VISTAAR SHIPPING
COALspot.com: The freight market this week remained almost at same levels with not much change. However the Far East/SE Asia market was quite soft w ...
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- Bukit Baiduri Energy - Indonesia
- Siam City Cement - Thailand
- Mercuria Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Jaiprakash Power Ventures ltd
- Standard Chartered Bank - UAE
- TNB Fuel Sdn Bhd - Malaysia
- Global Coal Blending Company Limited - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Kartika Selabumi Mining - Indonesia
- Maheswari Brothers Coal Limited - India
- Sical Logistics Limited - India
- Trasteel International SA, Italy
- Coalindo Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kobexindo Tractors - Indoneisa
- Semirara Mining and Power Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Romanian Commodities Exchange
- International Coal Ventures Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- VISA Power Limited - India
- GMR Energy Limited - India
- European Bulk Services B.V. - Netherlands
- Bukit Makmur.PT - Indonesia
- Orica Mining Services - Indonesia
- Iligan Light & Power Inc, Philippines
- Aditya Birla Group - India
- Vizag Seaport Private Limited - India
- Grasim Industreis Ltd - India
- Electricity Generating Authority of Thailand
- Uttam Galva Steels Limited - India
- Tamil Nadu electricity Board
- Bulk Trading Sa - Switzerland
- Semirara Mining Corp, Philippines
- Baramulti Group, Indonesia
- Energy Link Ltd, New Zealand
- Economic Council, Georgia
- Sarangani Energy Corporation, Philippines
- White Energy Company Limited
- PTC India Limited - India
- Siam City Cement PLC, Thailand
- CNBM International Corporation - China
- Larsen & Toubro Limited - India
- San Jose City I Power Corp, Philippines
- The Treasury - Australian Government
- Indonesian Coal Mining Association
- McConnell Dowell - Australia
- Therma Luzon, Inc, Philippines
- Samtan Co., Ltd - South Korea
- Straits Asia Resources Limited - Singapore
- Thiess Contractors Indonesia
- Star Paper Mills Limited - India
- Kohat Cement Company Ltd. - Pakistan
- PetroVietnam Power Coal Import and Supply Company
- Parliament of New Zealand
- Rio Tinto Coal - Australia
- Globalindo Alam Lestari - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Sojitz Corporation - Japan
- Central Java Power - Indonesia
- Ind-Barath Power Infra Limited - India
- Leighton Contractors Pty Ltd - Australia
- Latin American Coal - Colombia
- Pendopo Energi Batubara - Indonesia
- Eastern Coal Council - USA
- Minerals Council of Australia
- Simpson Spence & Young - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Bharathi Cement Corporation - India
- Posco Energy - South Korea
- Directorate Of Revenue Intelligence - India
- ASAPP Information Group - India
- GN Power Mariveles Coal Plant, Philippines
- Cigading International Bulk Terminal - Indonesia
- Binh Thuan Hamico - Vietnam
- Wilmar Investment Holdings
- Medco Energi Mining Internasional
- Marubeni Corporation - India
- Altura Mining Limited, Indonesia
- Sindya Power Generating Company Private Ltd
- South Luzon Thermal Energy Corporation
- Xindia Steels Limited - India
- Mjunction Services Limited - India
- Jindal Steel & Power Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Bayan Resources Tbk. - Indonesia
- Intertek Mineral Services - Indonesia
- Makarim & Taira - Indonesia
- Chettinad Cement Corporation Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Coal and Oil Company - UAE
- Mercator Lines Limited - India
- Kideco Jaya Agung - Indonesia
- Indogreen Group - Indonesia
- Ministry of Finance - Indonesia
- Oldendorff Carriers - Singapore
- Ambuja Cements Ltd - India
- Barasentosa Lestari - Indonesia
- SMG Consultants - Indonesia
- Sree Jayajothi Cements Limited - India
- Krishnapatnam Port Company Ltd. - India
- Australian Coal Association
- Alfred C Toepfer International GmbH - Germany
- Heidelberg Cement - Germany
- ICICI Bank Limited - India
- Renaissance Capital - South Africa
- Agrawal Coal Company - India
- Bhushan Steel Limited - India
- Gujarat Sidhee Cement - India
- Sakthi Sugars Limited - India
- Dalmia Cement Bharat India
- Lanco Infratech Ltd - India
- Orica Australia Pty. Ltd.
- Indo Tambangraya Megah - Indonesia
- Bhatia International Limited - India
- Rashtriya Ispat Nigam Limited - India
- Kapuas Tunggal Persada - Indonesia
- CIMB Investment Bank - Malaysia
- Petron Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Wood Mackenzie - Singapore
- Mintek Dendrill Indonesia
- Riau Bara Harum - Indonesia
- Independent Power Producers Association of India
- Timah Investasi Mineral - Indoneisa
- The University of Queensland
- OPG Power Generation Pvt Ltd - India
- Indian Energy Exchange, India
- Tata Chemicals Ltd - India
- Central Electricity Authority - India
- LBH Netherlands Bv - Netherlands
- Coastal Gujarat Power Limited - India
- Bhoruka Overseas - Indonesia
- Banpu Public Company Limited - Thailand
- Essar Steel Hazira Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- India Bulls Power Limited - India
- Billiton Holdings Pty Ltd - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Ministry of Mines - Canada
- Kumho Petrochemical, South Korea
- Miang Besar Coal Terminal - Indonesia
- Indian Oil Corporation Limited
- Toyota Tsusho Corporation, Japan
- Gujarat Electricity Regulatory Commission - India
- Borneo Indobara - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Vedanta Resources Plc - India
- Thai Mozambique Logistica
- Singapore Mercantile Exchange
- Australian Commodity Traders Exchange
- Energy Development Corp, Philippines
- GAC Shipping (India) Pvt Ltd
- Indika Energy - Indonesia
- London Commodity Brokers - England
- Holcim Trading Pte Ltd - Singapore
- Electricity Authority, New Zealand
- Neyveli Lignite Corporation Ltd, - India
- Asmin Koalindo Tuhup - Indonesia
- Commonwealth Bank - Australia
- IEA Clean Coal Centre - UK
- Merrill Lynch Commodities Europe
- Bangladesh Power Developement Board
- Offshore Bulk Terminal Pte Ltd, Singapore
- Georgia Ports Authority, United States
- Kepco SPC Power Corporation, Philippines
- Cement Manufacturers Association - India
- Edison Trading Spa - Italy
- Chamber of Mines of South Africa
- Sinarmas Energy and Mining - Indonesia
- Power Finance Corporation Ltd., India
- Madhucon Powers Ltd - India
- Manunggal Multi Energi - Indonesia
- MS Steel International - UAE
- Price Waterhouse Coopers - Russia
- GVK Power & Infra Limited - India
- Videocon Industries ltd - India
- Aboitiz Power Corporation - Philippines
- Directorate General of MIneral and Coal - Indonesia
- New Zealand Coal & Carbon
- Planning Commission, India
- Antam Resourcindo - Indonesia
- Savvy Resources Ltd - HongKong
- Meralco Power Generation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kaltim Prima Coal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Parry Sugars Refinery, India
- Salva Resources Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- SMC Global Power, Philippines
- The State Trading Corporation of India Ltd
- SN Aboitiz Power Inc, Philippines
- Malabar Cements Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Carbofer General Trading SA - India
- Deloitte Consulting - India
- Global Business Power Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Formosa Plastics Group - Taiwan
- Interocean Group of Companies - India
- Eastern Energy - Thailand
- Port Waratah Coal Services - Australia
- Goldman Sachs - Singapore
- Ministry of Transport, Egypt
- Maharashtra Electricity Regulatory Commission - India
- Anglo American - United Kingdom
- Attock Cement Pakistan Limited
- Global Green Power PLC Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- PowerSource Philippines DevCo
- PNOC Exploration Corporation - Philippines
- Africa Commodities Group - South Africa
- Karaikal Port Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
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