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Friday, 13 April 12
S&P CAUTIONS AGAINST NEW INDONESIAN MINING REGULATIONS - THE JAKARTA GLOBE
The Jakarta Globe reported that, Investors may have expressed concerns about looming new mining regulations, but ratings agency Standard & Poor’s says it doubts the government will implement them strictly.
“Whether the government of Indonesia will follow up on its hard-line stance is still a question,” the ratings agency said in its latest report on mining.
However, S&P added that “our ratings on mining companies operating in Indonesia have long factored in the country’s evolving regulations. Therefore, our credit outlook on the sector remains stable.”
The government this year issued a series of controversial mining regulations, including plans for an ore export ban, higher royalties, a ceiling on foreign ownership of mining assets, a required upgrade in coal quality before export and so-called “contract of work” renegotiations.
“Not a week has passed without government officials calling for additional royalties, a review of ownership rules or a more equal redistribution of mineral wealth,” S&P said in the report.
Industry Minister M.S. Hidayat was on Thursday quoted by Reuters reiterating an earlier statement by his ministry that the government is studying a 25 percent tax on mining exports this year that will become a 50 percent tax in 2013.
S&P said that if the move is strictly implemented, it “would undeniably hurt Indonesian mining companies as well as international companies that have mining operations in Indonesia. It would raise the cost of doing business in the sector and lessen its attractiveness to investors.”
The ratings agency said that it believed “the government of Indonesia will take a pragmatic approach while implementing mining regulations, given the sector’s economic importance.”
Last year, the government received $6.5 billion in taxes and royalties from mining companies, constituting 5 percent of total government revenue.
Dileep Srivastava, the investor relations director at large coal miner Bumi Resources, expressed concern about the tax.
“If this is enacted, some of our metals and minor coal assets may be vulnerable,” he said.
“But it is premature to form any view yet.”
Source: The Jakarta Globe
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Tuesday, 04 September 12
SHIP OWNERS' COMPETITION LEADS TO TANKER FIXTURES BELOW OPERATING COSTS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Ship owners operating in the VLCC tanker markets are increasingly finding it difficult to obtain even breakeven rates for their vessels, as competit ...
Tuesday, 04 September 12
ORPHEUS SECURES ADDITIONAL SIGNIFICANT KINTAP COAL PROJECT IN SOUTH KALIMANTAN
COALspot.com - Indonesian coal producer, Orpheus Energy (ASX:OEG) has announced that it has secured a 50% equity ownership in an additional tenement ...
Monday, 03 September 12
SHIPOWNERS TO WAIT FOR FURTHER PRICE REDUCTIONS IN THE SECOND HAND VESSEL MARKETS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With September now upon us, shipbrokers are looking towards an interesting winter season, as ship owners are looking to capitalize on more second ha ...
Sunday, 02 September 12
ADAROS COAL ROYALTIES TO THE GOVERNMENT INCREASED BY 10.5 PERCENT Y-O-Y TO US$196.8 MILLION
COALspot.com - PT Adaro Energy Tbk (IDX: ADRO), the second largest power plant coal producer in Indonesia, announced its consolidated auditor-review ...
Saturday, 01 September 12
FALLING PRICES; BLEEDING MINERS
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for October 2012 delivery lost 4.070 percent and 0.422 percent respectively on W-o-W and D- ...
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- Vedanta Resources Plc - India
- Merrill Lynch Commodities Europe
- Grasim Industreis Ltd - India
- Price Waterhouse Coopers - Russia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indonesian Coal Mining Association
- Renaissance Capital - South Africa
- Thiess Contractors Indonesia
- Leighton Contractors Pty Ltd - Australia
- Semirara Mining and Power Corporation, Philippines
- ASAPP Information Group - India
- Vizag Seaport Private Limited - India
- Ministry of Mines - Canada
- Orica Australia Pty. Ltd.
- Bhatia International Limited - India
- Intertek Mineral Services - Indonesia
- Energy Link Ltd, New Zealand
- Bulk Trading Sa - Switzerland
- Borneo Indobara - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Kumho Petrochemical, South Korea
- Australian Coal Association
- IEA Clean Coal Centre - UK
- Global Business Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Mjunction Services Limited - India
- Videocon Industries ltd - India
- Simpson Spence & Young - Indonesia
- Formosa Plastics Group - Taiwan
- Carbofer General Trading SA - India
- Therma Luzon, Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Bukit Makmur.PT - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Petron Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Electricity Authority, New Zealand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kideco Jaya Agung - Indonesia
- Singapore Mercantile Exchange
- Miang Besar Coal Terminal - Indonesia
- New Zealand Coal & Carbon
- Indo Tambangraya Megah - Indonesia
- Pendopo Energi Batubara - Indonesia
- Toyota Tsusho Corporation, Japan
- Dalmia Cement Bharat India
- AsiaOL BioFuels Corp., Philippines
- Planning Commission, India
- Heidelberg Cement - Germany
- Metalloyd Limited - United Kingdom
- Thai Mozambique Logistica
- Electricity Generating Authority of Thailand
- Tamil Nadu electricity Board
- Coal and Oil Company - UAE
- Goldman Sachs - Singapore
- Bharathi Cement Corporation - India
- Gujarat Electricity Regulatory Commission - India
- Eastern Energy - Thailand
- Port Waratah Coal Services - Australia
- Cement Manufacturers Association - India
- Deloitte Consulting - India
- Coalindo Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Cigading International Bulk Terminal - Indonesia
- Mintek Dendrill Indonesia
- South Luzon Thermal Energy Corporation
- London Commodity Brokers - England
- Semirara Mining Corp, Philippines
- Mercuria Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Chamber of Mines of South Africa
- The University of Queensland
- Asmin Koalindo Tuhup - Indonesia
- PTC India Limited - India
- Riau Bara Harum - Indonesia
- Jaiprakash Power Ventures ltd
- Gujarat Mineral Development Corp Ltd - India
- Indian Oil Corporation Limited
- Tata Chemicals Ltd - India
- Parliament of New Zealand
- PowerSource Philippines DevCo
- Antam Resourcindo - Indonesia
- Sree Jayajothi Cements Limited - India
- Central Electricity Authority - India
- Attock Cement Pakistan Limited
- San Jose City I Power Corp, Philippines
- Oldendorff Carriers - Singapore
- Sarangani Energy Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Africa Commodities Group - South Africa
- Kaltim Prima Coal - Indonesia
- Latin American Coal - Colombia
- Agrawal Coal Company - India
- Ind-Barath Power Infra Limited - India
- Trasteel International SA, Italy
- Central Java Power - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- VISA Power Limited - India
- CNBM International Corporation - China
- Global Green Power PLC Corporation, Philippines
- Posco Energy - South Korea
- Bayan Resources Tbk. - Indonesia
- Independent Power Producers Association of India
- Pipit Mutiara Jaya. PT, Indonesia
- TeaM Sual Corporation - Philippines
- India Bulls Power Limited - India
- The State Trading Corporation of India Ltd
- Bhushan Steel Limited - India
- Mercator Lines Limited - India
- Iligan Light & Power Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Bank of Tokyo Mitsubishi UFJ Ltd
- Binh Thuan Hamico - Vietnam
- Directorate Of Revenue Intelligence - India
- ICICI Bank Limited - India
- Makarim & Taira - Indonesia
- Sakthi Sugars Limited - India
- SMC Global Power, Philippines
- Bhoruka Overseas - Indonesia
- Essar Steel Hazira Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Barasentosa Lestari - Indonesia
- Baramulti Group, Indonesia
- Meralco Power Generation, Philippines
- Karaikal Port Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Transport, Egypt
- Sical Logistics Limited - India
- Edison Trading Spa - Italy
- CIMB Investment Bank - Malaysia
- Eastern Coal Council - USA
- Aboitiz Power Corporation - Philippines
- Rio Tinto Coal - Australia
- Indian Energy Exchange, India
- IHS Mccloskey Coal Group - USA
- Georgia Ports Authority, United States
- Ceylon Electricity Board - Sri Lanka
- Larsen & Toubro Limited - India
- Manunggal Multi Energi - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- McConnell Dowell - Australia
- Minerals Council of Australia
- Timah Investasi Mineral - Indoneisa
- Krishnapatnam Port Company Ltd. - India
- Madhucon Powers Ltd - India
- Kartika Selabumi Mining - Indonesia
- Meenaskhi Energy Private Limited - India
- International Coal Ventures Pvt Ltd - India
- White Energy Company Limited
- SN Aboitiz Power Inc, Philippines
- Lanco Infratech Ltd - India
- Samtan Co., Ltd - South Korea
- Economic Council, Georgia
- Gujarat Sidhee Cement - India
- GMR Energy Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Xindia Steels Limited - India
- Jindal Steel & Power Ltd - India
- Parry Sugars Refinery, India
- Medco Energi Mining Internasional
- Bahari Cakrawala Sebuku - Indonesia
- Romanian Commodities Exchange
- Banpu Public Company Limited - Thailand
- Kapuas Tunggal Persada - Indonesia
- Power Finance Corporation Ltd., India
- Bukit Asam (Persero) Tbk - Indonesia
- Straits Asia Resources Limited - Singapore
- The Treasury - Australian Government
- Neyveli Lignite Corporation Ltd, - India
- Kepco SPC Power Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Interocean Group of Companies - India
- Wilmar Investment Holdings
- SMG Consultants - Indonesia
- Orica Mining Services - Indonesia
- Marubeni Corporation - India
- Sindya Power Generating Company Private Ltd
- OPG Power Generation Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Sojitz Corporation - Japan
- Commonwealth Bank - Australia
- MS Steel International - UAE
- Aditya Birla Group - India
- Malabar Cements Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Siam City Cement - Thailand
- Star Paper Mills Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Finance - Indonesia
- Standard Chartered Bank - UAE
- Indogreen Group - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Kobexindo Tractors - Indoneisa
- GVK Power & Infra Limited - India
- Maheswari Brothers Coal Limited - India
- Energy Development Corp, Philippines
- Bangladesh Power Developement Board
- Chettinad Cement Corporation Ltd - India
- Ambuja Cements Ltd - India
- Anglo American - United Kingdom
- Indika Energy - Indonesia
- Coastal Gujarat Power Limited - India
- LBH Netherlands Bv - Netherlands
- Uttam Galva Steels Limited - India
- Global Coal Blending Company Limited - Australia
- GAC Shipping (India) Pvt Ltd
- Wood Mackenzie - Singapore
- Australian Commodity Traders Exchange
- Sinarmas Energy and Mining - Indonesia
- Siam City Cement PLC, Thailand
- Altura Mining Limited, Indonesia
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