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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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Sunday, 01 July 12
DSP OF SGX ASIACLEAR OTC COAL SWAP'S THIS WEEKS MOVEMENTS SLIGHTLY POSITIVE
COALspot.com - SGX AsiaClear OTC Coal Swaps have recovered slightly this week and Q4 deliveries are also showing positive direction.
SGX’s ...
Saturday, 30 June 12
THE FREIGHT RATES ARE EXPECTED TO BE STEADY TO FIRM NEXT WEEK - VISTAAR SINGAPORE
COALspot.com – The BDI was up by 2.66 pct (up by 26 points) closing at 1,004 points crossing the 1000 point barrier this week.
The c ...
Friday, 29 June 12
INDONESIAN PRODUCERS ARE PLANNING TO CUT PRODUCTION IF COAL PRICES FALL FURTHER
COALspot.com: Indonesia, the world largest multi grade coal exporter, shipped 31.54* million tons of coal in May 2012, compared to 31.86* mill ...
Friday, 29 June 12
DRY BULK SHIP OWNERS DOING THEIR MATHS BEFORE PLACING NEWBUILDING ORDERS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With oversupply having plagued the dry bulk shipping fleet since the end of 2011, it’s become ever so evident that placing a newbuilding order ...
Thursday, 28 June 12
DRY BULK MARKET HIGHER ON CAPESIZE OPTIMISM - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market inched a bit higher yesterday, as the BDI (Baltic Dry Index) ended up by 0.71% to 988 points. Most ship types were up, with the ...
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- Ministry of Mines - Canada
- Bukit Asam (Persero) Tbk - Indonesia
- Thai Mozambique Logistica
- Tamil Nadu electricity Board
- Deloitte Consulting - India
- Pendopo Energi Batubara - Indonesia
- Wilmar Investment Holdings
- Bulk Trading Sa - Switzerland
- Miang Besar Coal Terminal - Indonesia
- Mintek Dendrill Indonesia
- Ambuja Cements Ltd - India
- Siam City Cement PLC, Thailand
- Kohat Cement Company Ltd. - Pakistan
- Standard Chartered Bank - UAE
- Georgia Ports Authority, United States
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Ceylon Electricity Board - Sri Lanka
- Sakthi Sugars Limited - India
- India Bulls Power Limited - India
- Central Electricity Authority - India
- White Energy Company Limited
- Bukit Makmur.PT - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Barasentosa Lestari - Indonesia
- SMG Consultants - Indonesia
- Kepco SPC Power Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Merrill Lynch Commodities Europe
- Aditya Birla Group - India
- CIMB Investment Bank - Malaysia
- Parry Sugars Refinery, India
- Maharashtra Electricity Regulatory Commission - India
- Eastern Coal Council - USA
- Krishnapatnam Port Company Ltd. - India
- Globalindo Alam Lestari - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Samtan Co., Ltd - South Korea
- Binh Thuan Hamico - Vietnam
- Madhucon Powers Ltd - India
- Ministry of Transport, Egypt
- The University of Queensland
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Tata Chemicals Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Gujarat Sidhee Cement - India
- Intertek Mineral Services - Indonesia
- Price Waterhouse Coopers - Russia
- Global Coal Blending Company Limited - Australia
- Commonwealth Bank - Australia
- Borneo Indobara - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Wood Mackenzie - Singapore
- Chamber of Mines of South Africa
- Australian Coal Association
- Global Green Power PLC Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bayan Resources Tbk. - Indonesia
- Goldman Sachs - Singapore
- OPG Power Generation Pvt Ltd - India
- Heidelberg Cement - Germany
- Star Paper Mills Limited - India
- Straits Asia Resources Limited - Singapore
- Medco Energi Mining Internasional
- PNOC Exploration Corporation - Philippines
- Oldendorff Carriers - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sinarmas Energy and Mining - Indonesia
- Larsen & Toubro Limited - India
- PowerSource Philippines DevCo
- Iligan Light & Power Inc, Philippines
- Baramulti Group, Indonesia
- Coastal Gujarat Power Limited - India
- Vizag Seaport Private Limited - India
- Independent Power Producers Association of India
- Formosa Plastics Group - Taiwan
- Eastern Energy - Thailand
- Thiess Contractors Indonesia
- Kapuas Tunggal Persada - Indonesia
- The State Trading Corporation of India Ltd
- Interocean Group of Companies - India
- Attock Cement Pakistan Limited
- Vedanta Resources Plc - India
- Bhatia International Limited - India
- GVK Power & Infra Limited - India
- Bhushan Steel Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Bukit Baiduri Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Sindya Power Generating Company Private Ltd
- Edison Trading Spa - Italy
- Mjunction Services Limited - India
- ASAPP Information Group - India
- PetroVietnam Power Coal Import and Supply Company
- London Commodity Brokers - England
- Lanco Infratech Ltd - India
- Aboitiz Power Corporation - Philippines
- Uttam Galva Steels Limited - India
- Indian Oil Corporation Limited
- Kaltim Prima Coal - Indonesia
- CNBM International Corporation - China
- Leighton Contractors Pty Ltd - Australia
- GN Power Mariveles Coal Plant, Philippines
- Global Business Power Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Pipit Mutiara Jaya. PT, Indonesia
- SN Aboitiz Power Inc, Philippines
- IHS Mccloskey Coal Group - USA
- Trasteel International SA, Italy
- Manunggal Multi Energi - Indonesia
- Cement Manufacturers Association - India
- Kobexindo Tractors - Indoneisa
- Dalmia Cement Bharat India
- Economic Council, Georgia
- Mercator Lines Limited - India
- Coalindo Energy - Indonesia
- Xindia Steels Limited - India
- Ind-Barath Power Infra Limited - India
- Indo Tambangraya Megah - Indonesia
- TeaM Sual Corporation - Philippines
- Bangladesh Power Developement Board
- Mercuria Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- Indonesian Coal Mining Association
- Electricity Authority, New Zealand
- Sree Jayajothi Cements Limited - India
- Orica Australia Pty. Ltd.
- Bank of Tokyo Mitsubishi UFJ Ltd
- Savvy Resources Ltd - HongKong
- GAC Shipping (India) Pvt Ltd
- IEA Clean Coal Centre - UK
- Power Finance Corporation Ltd., India
- Petron Corporation, Philippines
- Sical Logistics Limited - India
- San Jose City I Power Corp, Philippines
- Jaiprakash Power Ventures ltd
- Marubeni Corporation - India
- Gujarat Mineral Development Corp Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Ministry of Finance - Indonesia
- Therma Luzon, Inc, Philippines
- Minerals Council of Australia
- Videocon Industries ltd - India
- Antam Resourcindo - Indonesia
- Siam City Cement - Thailand
- Gujarat Electricity Regulatory Commission - India
- Indika Energy - Indonesia
- ICICI Bank Limited - India
- Semirara Mining and Power Corporation, Philippines
- Central Java Power - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- GMR Energy Limited - India
- Sojitz Corporation - Japan
- Energy Link Ltd, New Zealand
- Altura Mining Limited, Indonesia
- Agrawal Coal Company - India
- Malabar Cements Ltd - India
- PTC India Limited - India
- New Zealand Coal & Carbon
- South Luzon Thermal Energy Corporation
- McConnell Dowell - Australia
- Bhoruka Overseas - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Latin American Coal - Colombia
- Timah Investasi Mineral - Indoneisa
- Posco Energy - South Korea
- Bharathi Cement Corporation - India
- Rio Tinto Coal - Australia
- Holcim Trading Pte Ltd - Singapore
- The Treasury - Australian Government
- Anglo American - United Kingdom
- Rashtriya Ispat Nigam Limited - India
- Kartika Selabumi Mining - Indonesia
- SMC Global Power, Philippines
- Electricity Generating Authority of Thailand
- Kumho Petrochemical, South Korea
- Essar Steel Hazira Ltd - India
- Coal and Oil Company - UAE
- Semirara Mining Corp, Philippines
- Jindal Steel & Power Ltd - India
- Indogreen Group - Indonesia
- Africa Commodities Group - South Africa
- Romanian Commodities Exchange
- Kideco Jaya Agung - Indonesia
- VISA Power Limited - India
- Port Waratah Coal Services - Australia
- Meralco Power Generation, Philippines
- Renaissance Capital - South Africa
- International Coal Ventures Pvt Ltd - India
- Energy Development Corp, Philippines
- Salva Resources Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Metalloyd Limited - United Kingdom
- Makarim & Taira - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Petrochimia International Co. Ltd.- Taiwan
- Maheswari Brothers Coal Limited - India
- Toyota Tsusho Corporation, Japan
- Parliament of New Zealand
- Grasim Industreis Ltd - India
- Orica Mining Services - Indonesia
- Chettinad Cement Corporation Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Singapore Mercantile Exchange
- European Bulk Services B.V. - Netherlands
- Carbofer General Trading SA - India
- Vijayanagar Sugar Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Indian Energy Exchange, India
- Sarangani Energy Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Australian Commodity Traders Exchange
- Kalimantan Lumbung Energi - Indonesia
- Planning Commission, India
- MS Steel International - UAE
- Asmin Koalindo Tuhup - Indonesia
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