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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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Friday, 20 April 12
PANAMAXES LEAD DRY BULK MARKET TO HIGHER GROUND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
A rebound of demand for smaller dry bulk carriers has led the industry’s benchmark, the BDI (Baltic Dry Index) above the 1,000-point mark for ...
Friday, 20 April 12
BUMA HAS PRODUCED 2.6 MILLION TONS OF COAL IN MARCH 2012
COALspot.com - BUMA has removed 28.0 million bcm (+6.4% YoY) of overburden in March 2012 while coal production was at 2.6 million tons (+1.3% YoY).
...
Thursday, 19 April 12
FRESH COAL SALES FROM JATENERGYS JONGKANG MINES
COALspot.com - Energy company Jatenergy Ltd (ASX code JAT) announced today that it had signed a contract for an 11,000 tonne coal sale due for shipm ...
Thursday, 19 April 12
HANDY - 'POSITIVE TREND', PANAMAX - 'A FIRMER TENDENCY', CAPESIZE - 'AGAIN NEGATIVE'
Handy
The positive trend from last week continued, with more cargoes entering the market. Skaw/Passero del fixed tick above USD 4000 for US Gulf di ...
Thursday, 19 April 12
WILLIS MARINE MARKET REVIEW FORECASTS ANOTHER DIFFICULT YEAR - WILLIS GLOBAL MARINE / HELLENIC SHIPPING
After an inauspicious start, 2012 could well be "another difficult and uncertain year for the maritime industry faced with the aftermath of the ...
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- Videocon Industries ltd - India
- Central Java Power - Indonesia
- Carbofer General Trading SA - India
- Minerals Council of Australia
- Malabar Cements Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Bhoruka Overseas - Indonesia
- IEA Clean Coal Centre - UK
- Attock Cement Pakistan Limited
- London Commodity Brokers - England
- Gujarat Sidhee Cement - India
- CNBM International Corporation - China
- Bayan Resources Tbk. - Indonesia
- India Bulls Power Limited - India
- Indogreen Group - Indonesia
- Savvy Resources Ltd - HongKong
- Ceylon Electricity Board - Sri Lanka
- Timah Investasi Mineral - Indoneisa
- Energy Link Ltd, New Zealand
- Electricity Authority, New Zealand
- Altura Mining Limited, Indonesia
- Globalindo Alam Lestari - Indonesia
- Bhushan Steel Limited - India
- Vizag Seaport Private Limited - India
- Romanian Commodities Exchange
- Posco Energy - South Korea
- Bulk Trading Sa - Switzerland
- Madhucon Powers Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Planning Commission, India
- Wood Mackenzie - Singapore
- Merrill Lynch Commodities Europe
- Sical Logistics Limited - India
- Petron Corporation, Philippines
- Mercuria Energy - Indonesia
- Thai Mozambique Logistica
- Price Waterhouse Coopers - Russia
- SMC Global Power, Philippines
- Cement Manufacturers Association - India
- Aditya Birla Group - India
- ICICI Bank Limited - India
- GAC Shipping (India) Pvt Ltd
- Cigading International Bulk Terminal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Deloitte Consulting - India
- Rio Tinto Coal - Australia
- TeaM Sual Corporation - Philippines
- Kohat Cement Company Ltd. - Pakistan
- Indika Energy - Indonesia
- Goldman Sachs - Singapore
- Siam City Cement PLC, Thailand
- Gujarat Mineral Development Corp Ltd - India
- Singapore Mercantile Exchange
- Medco Energi Mining Internasional
- Intertek Mineral Services - Indonesia
- Tamil Nadu electricity Board
- Binh Thuan Hamico - Vietnam
- AsiaOL BioFuels Corp., Philippines
- Jorong Barutama Greston.PT - Indonesia
- Ministry of Finance - Indonesia
- SN Aboitiz Power Inc, Philippines
- Kumho Petrochemical, South Korea
- Meralco Power Generation, Philippines
- Thiess Contractors Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Indonesian Coal Mining Association
- Indo Tambangraya Megah - Indonesia
- Agrawal Coal Company - India
- Parry Sugars Refinery, India
- Kideco Jaya Agung - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Parliament of New Zealand
- Bangladesh Power Developement Board
- Miang Besar Coal Terminal - Indonesia
- Australian Coal Association
- Coal and Oil Company - UAE
- Eastern Energy - Thailand
- Global Business Power Corporation, Philippines
- Ministry of Mines - Canada
- Oldendorff Carriers - Singapore
- Holcim Trading Pte Ltd - Singapore
- Standard Chartered Bank - UAE
- OPG Power Generation Pvt Ltd - India
- SMG Consultants - Indonesia
- GVK Power & Infra Limited - India
- Metalloyd Limited - United Kingdom
- Larsen & Toubro Limited - India
- Simpson Spence & Young - Indonesia
- Africa Commodities Group - South Africa
- Maheswari Brothers Coal Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Grasim Industreis Ltd - India
- Heidelberg Cement - Germany
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sindya Power Generating Company Private Ltd
- The Treasury - Australian Government
- Kapuas Tunggal Persada - Indonesia
- Marubeni Corporation - India
- Samtan Co., Ltd - South Korea
- Sinarmas Energy and Mining - Indonesia
- Ambuja Cements Ltd - India
- Straits Asia Resources Limited - Singapore
- Australian Commodity Traders Exchange
- Directorate General of MIneral and Coal - Indonesia
- Makarim & Taira - Indonesia
- Sree Jayajothi Cements Limited - India
- South Luzon Thermal Energy Corporation
- White Energy Company Limited
- Kepco SPC Power Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- ASAPP Information Group - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Vedanta Resources Plc - India
- Mjunction Services Limited - India
- Renaissance Capital - South Africa
- Billiton Holdings Pty Ltd - Australia
- Karaikal Port Pvt Ltd - India
- Anglo American - United Kingdom
- Essar Steel Hazira Ltd - India
- Borneo Indobara - Indonesia
- International Coal Ventures Pvt Ltd - India
- Indian Oil Corporation Limited
- Siam City Cement - Thailand
- Kaltim Prima Coal - Indonesia
- IHS Mccloskey Coal Group - USA
- San Jose City I Power Corp, Philippines
- Global Coal Blending Company Limited - Australia
- Power Finance Corporation Ltd., India
- Tata Chemicals Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Commonwealth Bank - Australia
- Ministry of Transport, Egypt
- Neyveli Lignite Corporation Ltd, - India
- PTC India Limited - India
- Gujarat Electricity Regulatory Commission - India
- Orica Mining Services - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Iligan Light & Power Inc, Philippines
- Mercator Lines Limited - India
- GMR Energy Limited - India
- PowerSource Philippines DevCo
- Indian Energy Exchange, India
- Krishnapatnam Port Company Ltd. - India
- Manunggal Multi Energi - Indonesia
- Independent Power Producers Association of India
- TNB Fuel Sdn Bhd - Malaysia
- Eastern Coal Council - USA
- VISA Power Limited - India
- Trasteel International SA, Italy
- Formosa Plastics Group - Taiwan
- Dalmia Cement Bharat India
- Kobexindo Tractors - Indoneisa
- Mintek Dendrill Indonesia
- Lanco Infratech Ltd - India
- Kartika Selabumi Mining - Indonesia
- MS Steel International - UAE
- Interocean Group of Companies - India
- Sojitz Corporation - Japan
- Directorate Of Revenue Intelligence - India
- Star Paper Mills Limited - India
- Sarangani Energy Corporation, Philippines
- Georgia Ports Authority, United States
- Wilmar Investment Holdings
- Therma Luzon, Inc, Philippines
- McConnell Dowell - Australia
- Chettinad Cement Corporation Ltd - India
- Chamber of Mines of South Africa
- Orica Australia Pty. Ltd.
- Riau Bara Harum - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Uttam Galva Steels Limited - India
- The University of Queensland
- Banpu Public Company Limited - Thailand
- Sakthi Sugars Limited - India
- Bukit Makmur.PT - Indonesia
- Latin American Coal - Colombia
- The State Trading Corporation of India Ltd
- Port Waratah Coal Services - Australia
- Toyota Tsusho Corporation, Japan
- Jindal Steel & Power Ltd - India
- Baramulti Group, Indonesia
- Energy Development Corp, Philippines
- Coalindo Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Edison Trading Spa - Italy
- European Bulk Services B.V. - Netherlands
- Pendopo Energi Batubara - Indonesia
- Antam Resourcindo - Indonesia
- Barasentosa Lestari - Indonesia
- Central Electricity Authority - India
- Bukit Baiduri Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Maharashtra Electricity Regulatory Commission - India
- GN Power Mariveles Coal Plant, Philippines
- Electricity Generating Authority of Thailand
- Asmin Koalindo Tuhup - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ind-Barath Power Infra Limited - India
- CIMB Investment Bank - Malaysia
- Salva Resources Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Rashtriya Ispat Nigam Limited - India
- PNOC Exploration Corporation - Philippines
- LBH Netherlands Bv - Netherlands
- Coastal Gujarat Power Limited - India
- Semirara Mining Corp, Philippines
- New Zealand Coal & Carbon
- Aboitiz Power Corporation - Philippines
- Bharathi Cement Corporation - India
- Economic Council, Georgia
- Jaiprakash Power Ventures ltd
- Bhatia International Limited - India
- Xindia Steels Limited - India
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