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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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Wednesday, 11 January 12
NEWBUILDING ORDERS DECLINE, AS SHIP OWNERS REALIZE OVERSUPPLY WILL "KILL" THEM - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With 2012 now underway, it will be rather interesting to see how ship owners will play the "newbuilding ordering" card to their favor, as ...
Tuesday, 10 January 12
THE 4TH DEEPWATER ASIA CONGRESS 2012 WILL KICK OFF ON MAY 23 - 25
Press release - Based on the past three years’ success, SZ & W Group is excited to announce the 4th Deepwater Asia Congress will be held o ...
Monday, 09 January 12
2012: WHAT WILL IT BRING FOR THE DRY BULK MARKET? - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
A further increase in dry bulk demand could be the remedy for most of the industry's oversupply issues, together of course with the high level of s ...
Sunday, 08 January 12
ICICI OUTLOOK ON INDIAN POWER, MINING,CEMENT, AND SHIPPING SECTORS PERFORMANCE IN 2012
Broking firm, ICICIdirect (India) has come out with report on sectors outlook for 2012. IRIS has collated key highlights for each sector from ...
Sunday, 08 January 12
SUPRAMAX DELIVERY SOUTH CHINA FOR TRIPS VIA INDONESIA WERE REPORTED AROUND $ 7000 PER DAY - VISTAAR
Wish You a Very Happy and Prosperous New year 2012.
COALspot.com - The last report by us was on 16th Dec 2011 and because of holidays this would ...
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- Mjunction Services Limited - India
- GAC Shipping (India) Pvt Ltd
- Bharathi Cement Corporation - India
- Thai Mozambique Logistica
- Savvy Resources Ltd - HongKong
- Central Electricity Authority - India
- Marubeni Corporation - India
- Riau Bara Harum - Indonesia
- Bukit Makmur.PT - Indonesia
- Merrill Lynch Commodities Europe
- Altura Mining Limited, Indonesia
- Xindia Steels Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Energy Development Corp, Philippines
- Larsen & Toubro Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Oldendorff Carriers - Singapore
- Cement Manufacturers Association - India
- PetroVietnam Power Coal Import and Supply Company
- AsiaOL BioFuels Corp., Philippines
- Intertek Mineral Services - Indonesia
- Star Paper Mills Limited - India
- Tata Chemicals Ltd - India
- Parry Sugars Refinery, India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Timah Investasi Mineral - Indoneisa
- Asmin Koalindo Tuhup - Indonesia
- Ministry of Transport, Egypt
- Makarim & Taira - Indonesia
- Australian Coal Association
- Thiess Contractors Indonesia
- Mercator Lines Limited - India
- Port Waratah Coal Services - Australia
- Holcim Trading Pte Ltd - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- SN Aboitiz Power Inc, Philippines
- TeaM Sual Corporation - Philippines
- Anglo American - United Kingdom
- South Luzon Thermal Energy Corporation
- Baramulti Group, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Africa Commodities Group - South Africa
- Jindal Steel & Power Ltd - India
- Borneo Indobara - Indonesia
- LBH Netherlands Bv - Netherlands
- Ministry of Finance - Indonesia
- OPG Power Generation Pvt Ltd - India
- Sakthi Sugars Limited - India
- VISA Power Limited - India
- Rashtriya Ispat Nigam Limited - India
- Directorate Of Revenue Intelligence - India
- Jaiprakash Power Ventures ltd
- Bulk Trading Sa - Switzerland
- Kumho Petrochemical, South Korea
- Formosa Plastics Group - Taiwan
- The Treasury - Australian Government
- Orica Mining Services - Indonesia
- Independent Power Producers Association of India
- Medco Energi Mining Internasional
- Kobexindo Tractors - Indoneisa
- Standard Chartered Bank - UAE
- Indogreen Group - Indonesia
- Manunggal Multi Energi - Indonesia
- GVK Power & Infra Limited - India
- Posco Energy - South Korea
- Binh Thuan Hamico - Vietnam
- Sinarmas Energy and Mining - Indonesia
- London Commodity Brokers - England
- European Bulk Services B.V. - Netherlands
- India Bulls Power Limited - India
- Semirara Mining Corp, Philippines
- Coastal Gujarat Power Limited - India
- Ambuja Cements Ltd - India
- Toyota Tsusho Corporation, Japan
- Minerals Council of Australia
- Pendopo Energi Batubara - Indonesia
- Mintek Dendrill Indonesia
- PNOC Exploration Corporation - Philippines
- Lanco Infratech Ltd - India
- Chamber of Mines of South Africa
- Indian Energy Exchange, India
- Petrochimia International Co. Ltd.- Taiwan
- Sojitz Corporation - Japan
- Krishnapatnam Port Company Ltd. - India
- Salva Resources Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Kohat Cement Company Ltd. - Pakistan
- Energy Link Ltd, New Zealand
- Antam Resourcindo - Indonesia
- Aboitiz Power Corporation - Philippines
- Australian Commodity Traders Exchange
- Directorate General of MIneral and Coal - Indonesia
- Economic Council, Georgia
- IEA Clean Coal Centre - UK
- PowerSource Philippines DevCo
- Karaikal Port Pvt Ltd - India
- The University of Queensland
- Coalindo Energy - Indonesia
- Wilmar Investment Holdings
- Gujarat Sidhee Cement - India
- Dalmia Cement Bharat India
- Sarangani Energy Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- The State Trading Corporation of India Ltd
- Simpson Spence & Young - Indonesia
- Barasentosa Lestari - Indonesia
- Madhucon Powers Ltd - India
- Bhatia International Limited - India
- Miang Besar Coal Terminal - Indonesia
- Essar Steel Hazira Ltd - India
- Attock Cement Pakistan Limited
- Indonesian Coal Mining Association
- McConnell Dowell - Australia
- GMR Energy Limited - India
- Iligan Light & Power Inc, Philippines
- Vizag Seaport Private Limited - India
- Globalindo Alam Lestari - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- SMG Consultants - Indonesia
- Romanian Commodities Exchange
- SMC Global Power, Philippines
- Kapuas Tunggal Persada - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Heidelberg Cement - Germany
- Karbindo Abesyapradhi - Indoneisa
- Kartika Selabumi Mining - Indonesia
- Price Waterhouse Coopers - Russia
- Siam City Cement - Thailand
- ASAPP Information Group - India
- Ministry of Mines - Canada
- Aditya Birla Group - India
- Planning Commission, India
- Vedanta Resources Plc - India
- Latin American Coal - Colombia
- Commonwealth Bank - Australia
- Indo Tambangraya Megah - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Central Java Power - Indonesia
- Wood Mackenzie - Singapore
- Bhoruka Overseas - Indonesia
- Samtan Co., Ltd - South Korea
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sical Logistics Limited - India
- Straits Asia Resources Limited - Singapore
- IHS Mccloskey Coal Group - USA
- PTC India Limited - India
- CNBM International Corporation - China
- Cigading International Bulk Terminal - Indonesia
- Power Finance Corporation Ltd., India
- Kepco SPC Power Corporation, Philippines
- Electricity Generating Authority of Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Petron Corporation, Philippines
- Bhushan Steel Limited - India
- Jorong Barutama Greston.PT - Indonesia
- CIMB Investment Bank - Malaysia
- Renaissance Capital - South Africa
- White Energy Company Limited
- Edison Trading Spa - Italy
- International Coal Ventures Pvt Ltd - India
- Singapore Mercantile Exchange
- Trasteel International SA, Italy
- Orica Australia Pty. Ltd.
- Leighton Contractors Pty Ltd - Australia
- Coal and Oil Company - UAE
- Bukit Baiduri Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Sree Jayajothi Cements Limited - India
- Global Coal Blending Company Limited - Australia
- Uttam Galva Steels Limited - India
- Indian Oil Corporation Limited
- Carbofer General Trading SA - India
- Deloitte Consulting - India
- Global Business Power Corporation, Philippines
- Grasim Industreis Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Indika Energy - Indonesia
- Videocon Industries ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Goldman Sachs - Singapore
- Meenaskhi Energy Private Limited - India
- Sindya Power Generating Company Private Ltd
- Eastern Coal Council - USA
- Kaltim Prima Coal - Indonesia
- Eastern Energy - Thailand
- ICICI Bank Limited - India
- San Jose City I Power Corp, Philippines
- Kideco Jaya Agung - Indonesia
- Ind-Barath Power Infra Limited - India
- Malabar Cements Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Siam City Cement PLC, Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Mercuria Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Meralco Power Generation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Maheswari Brothers Coal Limited - India
- Tamil Nadu electricity Board
- Chettinad Cement Corporation Ltd - India
- Bangladesh Power Developement Board
- Bayan Resources Tbk. - Indonesia
- New Zealand Coal & Carbon
- Therma Luzon, Inc, Philippines
- Georgia Ports Authority, United States
- Gujarat Electricity Regulatory Commission - India
- Rio Tinto Coal - Australia
- Agrawal Coal Company - India
- Interocean Group of Companies - India
- Parliament of New Zealand
- Electricity Authority, New Zealand
- MS Steel International - UAE
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