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Monday, 26 December 11
NEW EXPORT TAX PLAN GREETED WITH PRAISE AND CRITICISM - THE JAKARTA POST
 The Jakarta Post, one of the Indonesia's leading english news paper reported that, both praise and criticism showered the government’s plan to tax the export of minerals and base metals starting next year.
Economists say such an initiative is a testament to the government’s long-term economic vision, in which local manufacturers are encouraged to add value to commodities, as well as contributing to national energy security.
For local miners, on the other hand, the upcoming export tax would be an additional burden that could affect their financial performance amid global economic uncertainties that could jeopardize future expansion plans.
Arif Hadianto, a spokesperson for Indonesia’s fifth largest coal miner, PT Berau Coal Energy, said coal producers already paid 13.5 percent of their total sales as royalties to the government, on top of the income and value-added taxes.
“A new tax would automatically be a burden. The government must take into account that coal producers have an obligation to meet domestic demand,” Arif said on Sunday.
Separately, Resource Alam Indonesia head of investor relations Erif Tirtana said small- and medium-sized companies would be hurt most by the tax plan. “The export tax will be a double tax, as we are already paying royalties. I just hope that the ministry will consider our grievances,” he said.
PT Antam corporate secretary Bimo Budi Satriyo said that the export tax would reduce his company’s profits. Bimo said that Antam, which exports nickel to China, Korea, and Europe, had to give 5 percent off its sales prices per ton of high calorie (garnierite) nickel ore and 4 percent for every ton of low-calorie (limonite) nickel ore in royalty fees.
“We still don’t know what the regulation will look like. As long as the government considers the royalty we are already paying. It will be okay.”
Association of Indonesian Mining Professional chairman Irwandi Arif said that the government should calculate the amount of export tax to help companies maintain their profits. He said, the tax should be re-distributed to develop industry in the country.
“The export tax should be used to provide incentives in development of coal-powered power plants, for example, in Mulut Tambang [in Tanjung Enim, South Sumatra]. It would be troublesome if the government fails to synchronize the use of the tax,” Irwandi said.
The tax plan was first introduced last week by Industry Minister Mohamad S. Hidayat, who said that the ministry was preparing the export tax on mineral products to encourage the development of derivatives products from minerals and base metals by local industries.
Hidayat said the regulation was poised to be implemented in the first half of 2012, pending approval from the Finance Ministry.
“The growth of the downstream industry will create jobs, add value to our products and reduce dependence on imports,” said Hidayat. He promised that investors who invested in downstream industries would be given tax holidays.
The planned export tax is in line with the ongoing process carried out by the Energy and Mineral Resources Ministry, which is drafting a regulation that will ban exports of raw mining products beginning in 2014. Prohibiting exports of raw mining product is a part of the government’s commitment to fully implement the 2009 Mineral and Coal Law, requiring miners to process coal and mineral into added-value products before exporting them.
Mining expert Kurtubi said that the government’s move to impose export taxes on non-renewable coal and base metals was “logical” as other commodity-based industries were already paying more.
“State revenue from coal and general mining is very little. Corporate tax for general mining sector is about 35 to 40 percent, while the royalty as stated in the contract of work is only about 1 percent.”
Source: The Jakarta Post
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Tuesday, 07 February 12
DRY BULK MARKET FINALLY STOPS DECLINE, POSTS FIRST RISE IN MORE THAN A MONTH - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
After falling to near record lows, not seen since the mid-80s the dry bulk market has finally stopped its path to "hell", with the industr ...
Saturday, 04 February 12
SUPRAMAX DELIVERY SOUTH CHINA FOR TRIPS VIA INDONESIA WERE REPORTED AROUND $ 6,000 PER DAY - VISTAAR
COALspot.com - The markets continued to soften which dropped by almost 11 pct and BDI closing at 647 points.
The drop in BDI was mainly due to dr ...
Thursday, 02 February 12
NO RELIEF YET FOR DRY BULK SHIP OWNERS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Although at the start of 2012 nobody can claim that the global seaborne trade has suddenly come to a halt, quite the contrary, it seems that the dry ...
Wednesday, 01 February 12
KRISHNAPATNAM PORT - GOING DEEP TO SOAR HIGH
COALspot.com - Krishnapatnam Port now rightfully claims as the deepest draft port in India, as it has started accepting vessels with maximum permiss ...
Wednesday, 01 February 12
IN JAMBI, MOST MINING COMPANIES LACK 'CLEAR-AND-CLEAN' PERMITS - JP
More than three-quarters of the 386 mining companies in Jambi lack “clear-and-clean” certifications from the government, according to an ...
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- International Coal Ventures Pvt Ltd - India
- Indogreen Group - Indonesia
- Ministry of Transport, Egypt
- Indika Energy - Indonesia
- Siam City Cement - Thailand
- Krishnapatnam Port Company Ltd. - India
- Neyveli Lignite Corporation Ltd, - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bhushan Steel Limited - India
- Mercator Lines Limited - India
- Altura Mining Limited, Indonesia
- CIMB Investment Bank - Malaysia
- Kaltim Prima Coal - Indonesia
- Interocean Group of Companies - India
- Jindal Steel & Power Ltd - India
- IEA Clean Coal Centre - UK
- Binh Thuan Hamico - Vietnam
- Global Coal Blending Company Limited - Australia
- Trasteel International SA, Italy
- Renaissance Capital - South Africa
- Minerals Council of Australia
- Wilmar Investment Holdings
- Tata Chemicals Ltd - India
- Maheswari Brothers Coal Limited - India
- Parliament of New Zealand
- Electricity Authority, New Zealand
- Sindya Power Generating Company Private Ltd
- Uttam Galva Steels Limited - India
- Lanco Infratech Ltd - India
- Kepco SPC Power Corporation, Philippines
- Posco Energy - South Korea
- Sical Logistics Limited - India
- Ind-Barath Power Infra Limited - India
- Coal and Oil Company - UAE
- Electricity Generating Authority of Thailand
- GAC Shipping (India) Pvt Ltd
- Therma Luzon, Inc, Philippines
- Africa Commodities Group - South Africa
- The University of Queensland
- Singapore Mercantile Exchange
- Energy Link Ltd, New Zealand
- Semirara Mining and Power Corporation, Philippines
- Carbofer General Trading SA - India
- Directorate General of MIneral and Coal - Indonesia
- Iligan Light & Power Inc, Philippines
- Eastern Energy - Thailand
- Kohat Cement Company Ltd. - Pakistan
- Rashtriya Ispat Nigam Limited - India
- Chamber of Mines of South Africa
- Indonesian Coal Mining Association
- Cigading International Bulk Terminal - Indonesia
- Independent Power Producers Association of India
- Parry Sugars Refinery, India
- Anglo American - United Kingdom
- TNB Fuel Sdn Bhd - Malaysia
- Toyota Tsusho Corporation, Japan
- Baramulti Group, Indonesia
- Sinarmas Energy and Mining - Indonesia
- Pendopo Energi Batubara - Indonesia
- Indo Tambangraya Megah - Indonesia
- Videocon Industries ltd - India
- Aditya Birla Group - India
- Ceylon Electricity Board - Sri Lanka
- Ministry of Finance - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Savvy Resources Ltd - HongKong
- Cement Manufacturers Association - India
- ASAPP Information Group - India
- McConnell Dowell - Australia
- Global Business Power Corporation, Philippines
- White Energy Company Limited
- Karaikal Port Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Port Waratah Coal Services - Australia
- Sarangani Energy Corporation, Philippines
- Mintek Dendrill Indonesia
- Formosa Plastics Group - Taiwan
- Maharashtra Electricity Regulatory Commission - India
- Oldendorff Carriers - Singapore
- Latin American Coal - Colombia
- Power Finance Corporation Ltd., India
- The Treasury - Australian Government
- Chettinad Cement Corporation Ltd - India
- SN Aboitiz Power Inc, Philippines
- Indian Energy Exchange, India
- Larsen & Toubro Limited - India
- Deloitte Consulting - India
- Orica Mining Services - Indonesia
- MS Steel International - UAE
- Bulk Trading Sa - Switzerland
- Australian Commodity Traders Exchange
- Bukit Asam (Persero) Tbk - Indonesia
- Goldman Sachs - Singapore
- Ministry of Mines - Canada
- Metalloyd Limited - United Kingdom
- PNOC Exploration Corporation - Philippines
- Meralco Power Generation, Philippines
- Banpu Public Company Limited - Thailand
- Eastern Coal Council - USA
- Coalindo Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Grasim Industreis Ltd - India
- Marubeni Corporation - India
- Kalimantan Lumbung Energi - Indonesia
- Vizag Seaport Private Limited - India
- Simpson Spence & Young - Indonesia
- The State Trading Corporation of India Ltd
- Manunggal Multi Energi - Indonesia
- Essar Steel Hazira Ltd - India
- Madhucon Powers Ltd - India
- TeaM Sual Corporation - Philippines
- Indian Oil Corporation Limited
- Dalmia Cement Bharat India
- Gujarat Sidhee Cement - India
- Sojitz Corporation - Japan
- Central Java Power - Indonesia
- South Luzon Thermal Energy Corporation
- Kartika Selabumi Mining - Indonesia
- Intertek Mineral Services - Indonesia
- Heidelberg Cement - Germany
- Medco Energi Mining Internasional
- CNBM International Corporation - China
- Bukit Makmur.PT - Indonesia
- Bayan Resources Tbk. - Indonesia
- LBH Netherlands Bv - Netherlands
- Central Electricity Authority - India
- Kideco Jaya Agung - Indonesia
- Mercuria Energy - Indonesia
- Xindia Steels Limited - India
- Orica Australia Pty. Ltd.
- Billiton Holdings Pty Ltd - Australia
- Sree Jayajothi Cements Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Planning Commission, India
- Sakthi Sugars Limited - India
- Global Green Power PLC Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- PTC India Limited - India
- Australian Coal Association
- London Commodity Brokers - England
- GN Power Mariveles Coal Plant, Philippines
- Meenaskhi Energy Private Limited - India
- Leighton Contractors Pty Ltd - Australia
- VISA Power Limited - India
- European Bulk Services B.V. - Netherlands
- Standard Chartered Bank - UAE
- Borneo Indobara - Indonesia
- Bharathi Cement Corporation - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- India Bulls Power Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Commonwealth Bank - Australia
- Edison Trading Spa - Italy
- Merrill Lynch Commodities Europe
- Bank of Tokyo Mitsubishi UFJ Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Bahari Cakrawala Sebuku - Indonesia
- Mjunction Services Limited - India
- Attock Cement Pakistan Limited
- Jaiprakash Power Ventures ltd
- New Zealand Coal & Carbon
- Timah Investasi Mineral - Indoneisa
- Star Paper Mills Limited - India
- Straits Asia Resources Limited - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Wood Mackenzie - Singapore
- Bhatia International Limited - India
- Petron Corporation, Philippines
- Rio Tinto Coal - Australia
- GVK Power & Infra Limited - India
- Siam City Cement PLC, Thailand
- Samtan Co., Ltd - South Korea
- ICICI Bank Limited - India
- Riau Bara Harum - Indonesia
- PowerSource Philippines DevCo
- Miang Besar Coal Terminal - Indonesia
- Thai Mozambique Logistica
- Gujarat Electricity Regulatory Commission - India
- Thiess Contractors Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Makarim & Taira - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Agrawal Coal Company - India
- Salva Resources Pvt Ltd - India
- SMC Global Power, Philippines
- Bhoruka Overseas - Indonesia
- Kumho Petrochemical, South Korea
- Kapuas Tunggal Persada - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Bukit Baiduri Energy - Indonesia
- Vedanta Resources Plc - India
- OPG Power Generation Pvt Ltd - India
- Tamil Nadu electricity Board
- Ambuja Cements Ltd - India
- San Jose City I Power Corp, Philippines
- Energy Development Corp, Philippines
- Romanian Commodities Exchange
- GMR Energy Limited - India
- Kobexindo Tractors - Indoneisa
- Holcim Trading Pte Ltd - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Aboitiz Power Corporation - Philippines
- Malabar Cements Ltd - India
- Barasentosa Lestari - Indonesia
- Globalindo Alam Lestari - Indonesia
- Georgia Ports Authority, United States
- Coastal Gujarat Power Limited - India
- Economic Council, Georgia
- SMG Consultants - Indonesia
- Semirara Mining Corp, Philippines
- Antam Resourcindo - Indonesia
- Bangladesh Power Developement Board
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