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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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Saturday, 17 December 11
THE FREIGHT MARKET SEEMS TO HAVE ALMOST BOTTOMED OUT AND MAY REMAIN STEADY AT THESE LEVELS CAPT REDDY
COALspot.com - The BDI and Cape index closed lower this week with BDI closing at 1,888 points (down by 1.76 pct) and Cape index at 3,572 points (dow ...
Friday, 16 December 11
DRY BULK MARKET LOSES TRACK ON CAPESIZE LOSSES, SHIP FINANCING REMAINS TROUBLESOME - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market didn’t manage to sustain earlier gains, losing track yesterday, on reduced Capesize demand and persisting troubles in smal ...
Thursday, 15 December 11
BERAU SEES INDIA AS POTENTIAL MARKET FOR LOW-CALORIE COAL - THE JAKARTA POST
The Jakarta Post reported that, Publicly listed coal mining company PT Berau Coal Energy (BRAU), the fifth largest coal producer in Indonesia, sees ...
Thursday, 15 December 11
PANAMAX HARDLY AFFECTED BY THE RECENT FIRMER TENDENCY FOR THE BIG SISTERS - FEARNBULK
Handy
The rates are more or less the same as last week. Continent/US Gulf fixing at tick below USD 10k and Gulf/Continent levels at USD 25k. Trips ...
Thursday, 15 December 11
DRY BULK RATES TO REMAIN AT CURRENT LEVELS FOR THE MOST PART IN THE COMING MONTHS SAYS BIMCO - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
In its latest research note, BIMCO said that the Capesize Time Charter Average will remain at USD 20,000-30,000 per day but the tonnage oversupply w ...
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Showing 4926 to 4930 news of total 6871 |
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- White Energy Company Limited
- Karbindo Abesyapradhi - Indoneisa
- GVK Power & Infra Limited - India
- Tata Chemicals Ltd - India
- OPG Power Generation Pvt Ltd - India
- Thai Mozambique Logistica
- Bukit Makmur.PT - Indonesia
- Cement Manufacturers Association - India
- Rio Tinto Coal - Australia
- Star Paper Mills Limited - India
- Romanian Commodities Exchange
- Ind-Barath Power Infra Limited - India
- Kideco Jaya Agung - Indonesia
- Global Business Power Corporation, Philippines
- Coal and Oil Company - UAE
- Bahari Cakrawala Sebuku - Indonesia
- Globalindo Alam Lestari - Indonesia
- Price Waterhouse Coopers - Russia
- The State Trading Corporation of India Ltd
- Essar Steel Hazira Ltd - India
- Pendopo Energi Batubara - Indonesia
- Central Electricity Authority - India
- Central Java Power - Indonesia
- Bhushan Steel Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Maheswari Brothers Coal Limited - India
- Ceylon Electricity Board - Sri Lanka
- Sindya Power Generating Company Private Ltd
- Planning Commission, India
- Merrill Lynch Commodities Europe
- Bayan Resources Tbk. - Indonesia
- Bangladesh Power Developement Board
- Vizag Seaport Private Limited - India
- Power Finance Corporation Ltd., India
- Bukit Asam (Persero) Tbk - Indonesia
- Karaikal Port Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Heidelberg Cement - Germany
- Malabar Cements Ltd - India
- Vedanta Resources Plc - India
- Minerals Council of Australia
- Oldendorff Carriers - Singapore
- Cigading International Bulk Terminal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- McConnell Dowell - Australia
- PNOC Exploration Corporation - Philippines
- Dalmia Cement Bharat India
- Samtan Co., Ltd - South Korea
- Coastal Gujarat Power Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Krishnapatnam Port Company Ltd. - India
- Thiess Contractors Indonesia
- International Coal Ventures Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Semirara Mining Corp, Philippines
- Simpson Spence & Young - Indonesia
- Savvy Resources Ltd - HongKong
- Siam City Cement PLC, Thailand
- IEA Clean Coal Centre - UK
- Mercuria Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Borneo Indobara - Indonesia
- CIMB Investment Bank - Malaysia
- Jaiprakash Power Ventures ltd
- Maharashtra Electricity Regulatory Commission - India
- Georgia Ports Authority, United States
- Iligan Light & Power Inc, Philippines
- GMR Energy Limited - India
- India Bulls Power Limited - India
- Indogreen Group - Indonesia
- Makarim & Taira - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Goldman Sachs - Singapore
- Indian Oil Corporation Limited
- CNBM International Corporation - China
- Xindia Steels Limited - India
- Marubeni Corporation - India
- Petron Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Chamber of Mines of South Africa
- Global Green Power PLC Corporation, Philippines
- Ministry of Finance - Indonesia
- Attock Cement Pakistan Limited
- Directorate General of MIneral and Coal - Indonesia
- Singapore Mercantile Exchange
- Meenaskhi Energy Private Limited - India
- IHS Mccloskey Coal Group - USA
- London Commodity Brokers - England
- Neyveli Lignite Corporation Ltd, - India
- Indonesian Coal Mining Association
- GAC Shipping (India) Pvt Ltd
- Semirara Mining and Power Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Aditya Birla Group - India
- Mercator Lines Limited - India
- Kepco SPC Power Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Straits Asia Resources Limited - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ambuja Cements Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Electricity Authority, New Zealand
- Leighton Contractors Pty Ltd - Australia
- Bukit Baiduri Energy - Indonesia
- Latin American Coal - Colombia
- Salva Resources Pvt Ltd - India
- Parliament of New Zealand
- Deloitte Consulting - India
- Metalloyd Limited - United Kingdom
- Economic Council, Georgia
- Toyota Tsusho Corporation, Japan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Aboitiz Power Corporation - Philippines
- South Luzon Thermal Energy Corporation
- Orica Mining Services - Indonesia
- Renaissance Capital - South Africa
- Global Coal Blending Company Limited - Australia
- PetroVietnam Power Coal Import and Supply Company
- ASAPP Information Group - India
- Kaltim Prima Coal - Indonesia
- Eastern Energy - Thailand
- SMG Consultants - Indonesia
- Commonwealth Bank - Australia
- Australian Coal Association
- Africa Commodities Group - South Africa
- Sinarmas Energy and Mining - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Intertek Mineral Services - Indonesia
- Carbofer General Trading SA - India
- Kartika Selabumi Mining - Indonesia
- Altura Mining Limited, Indonesia
- Medco Energi Mining Internasional
- Posco Energy - South Korea
- Ministry of Transport, Egypt
- Orica Australia Pty. Ltd.
- Ministry of Mines - Canada
- VISA Power Limited - India
- Agrawal Coal Company - India
- Indo Tambangraya Megah - Indonesia
- Mintek Dendrill Indonesia
- PTC India Limited - India
- Videocon Industries ltd - India
- SN Aboitiz Power Inc, Philippines
- Anglo American - United Kingdom
- Independent Power Producers Association of India
- Interocean Group of Companies - India
- Sree Jayajothi Cements Limited - India
- Sakthi Sugars Limited - India
- Alfred C Toepfer International GmbH - Germany
- Energy Development Corp, Philippines
- Lanco Infratech Ltd - India
- Bhoruka Overseas - Indonesia
- Indika Energy - Indonesia
- Wood Mackenzie - Singapore
- Directorate Of Revenue Intelligence - India
- Bharathi Cement Corporation - India
- Indian Energy Exchange, India
- TeaM Sual Corporation - Philippines
- Madhucon Powers Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Gujarat Sidhee Cement - India
- Uttam Galva Steels Limited - India
- Bhatia International Limited - India
- Bulk Trading Sa - Switzerland
- Siam City Cement - Thailand
- Meralco Power Generation, Philippines
- Parry Sugars Refinery, India
- Larsen & Toubro Limited - India
- Sarangani Energy Corporation, Philippines
- Australian Commodity Traders Exchange
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kobexindo Tractors - Indoneisa
- Grasim Industreis Ltd - India
- ICICI Bank Limited - India
- New Zealand Coal & Carbon
- Electricity Generating Authority of Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- The Treasury - Australian Government
- Billiton Holdings Pty Ltd - Australia
- SMC Global Power, Philippines
- Trasteel International SA, Italy
- TNB Fuel Sdn Bhd - Malaysia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- The University of Queensland
- Miang Besar Coal Terminal - Indonesia
- PowerSource Philippines DevCo
- Eastern Coal Council - USA
- Formosa Plastics Group - Taiwan
- Holcim Trading Pte Ltd - Singapore
- Wilmar Investment Holdings
- Chettinad Cement Corporation Ltd - India
- Sojitz Corporation - Japan
- Riau Bara Harum - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Timah Investasi Mineral - Indoneisa
- Baramulti Group, Indonesia
- Banpu Public Company Limited - Thailand
- Tamil Nadu electricity Board
- Sical Logistics Limited - India
- Kapuas Tunggal Persada - Indonesia
- MS Steel International - UAE
- Port Waratah Coal Services - Australia
- Kumho Petrochemical, South Korea
- Edison Trading Spa - Italy
- Standard Chartered Bank - UAE
- Gujarat Electricity Regulatory Commission - India
- Asmin Koalindo Tuhup - Indonesia
- Mjunction Services Limited - India
- LBH Netherlands Bv - Netherlands
- Antam Resourcindo - Indonesia
- Jindal Steel & Power Ltd - India
- European Bulk Services B.V. - Netherlands
- Energy Link Ltd, New Zealand
- Coalindo Energy - Indonesia
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