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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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Monday, 13 February 12
WEEKLY DRY MARKET OVERVIEW - MARIA BERTZELETOU, HELLENIC SHIPPING
The current sentiment in the dry market resembles memories from the end of 2008, when the Baltic Dry Index closed at the level of 663 points on Dece ...
Sunday, 12 February 12
INDONESIA HAS ISSUED A REGULATION TO BAN THE EXPORT OF UNPROCESSED MINERALS AND METALS BY 2014
COALspot.com - The Indonesian government has finally issued a ministerial decree (7 Year 2012 dated 6 February 2012) to ban the export of unpro ...
Sunday, 12 February 12
THE BALTIC DRY INDEX CLIMBS 10.51%
COALspot.com - "The markets touched record lows not seen since mid 80’s. However there was some good news with signs of market recovery a ...
Saturday, 11 February 12
A SNAPSHOT ON THE ECONOMIC AND SHIPPING ENVIRONMENT - GOLDEN DESTINY
The week was highlighted with intense worries in the eurozone for Greece to secure its second bailout of $130billion by applying a ...
Saturday, 11 February 12
WILL HISTORY REPEAT ITSELF IN THIS SHIPPING CYCLE? - CLARKSONS / HELLENIC SHIPPING
A slightly dubious "best man" joke runs as follows… Best man (giving his wedding speech): "Have you noticed how history repeat ...
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- SMC Global Power, Philippines
- Minerals Council of Australia
- New Zealand Coal & Carbon
- OPG Power Generation Pvt Ltd - India
- Sojitz Corporation - Japan
- Indian Energy Exchange, India
- TNB Fuel Sdn Bhd - Malaysia
- Bhushan Steel Limited - India
- Central Java Power - Indonesia
- Oldendorff Carriers - Singapore
- Borneo Indobara - Indonesia
- Banpu Public Company Limited - Thailand
- Baramulti Group, Indonesia
- Larsen & Toubro Limited - India
- Krishnapatnam Port Company Ltd. - India
- CNBM International Corporation - China
- Aditya Birla Group - India
- PowerSource Philippines DevCo
- The State Trading Corporation of India Ltd
- Cigading International Bulk Terminal - Indonesia
- Goldman Sachs - Singapore
- Kepco SPC Power Corporation, Philippines
- Posco Energy - South Korea
- Siam City Cement - Thailand
- ASAPP Information Group - India
- LBH Netherlands Bv - Netherlands
- AsiaOL BioFuels Corp., Philippines
- Siam City Cement PLC, Thailand
- Holcim Trading Pte Ltd - Singapore
- Kaltim Prima Coal - Indonesia
- Global Coal Blending Company Limited - Australia
- IHS Mccloskey Coal Group - USA
- Videocon Industries ltd - India
- Latin American Coal - Colombia
- Kalimantan Lumbung Energi - Indonesia
- GVK Power & Infra Limited - India
- Madhucon Powers Ltd - India
- Indo Tambangraya Megah - Indonesia
- SMG Consultants - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Timah Investasi Mineral - Indoneisa
- Ind-Barath Power Infra Limited - India
- Therma Luzon, Inc, Philippines
- Meenaskhi Energy Private Limited - India
- Salva Resources Pvt Ltd - India
- Indonesian Coal Mining Association
- Miang Besar Coal Terminal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Romanian Commodities Exchange
- VISA Power Limited - India
- South Luzon Thermal Energy Corporation
- Independent Power Producers Association of India
- Coalindo Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Ambuja Cements Ltd - India
- Commonwealth Bank - Australia
- Rio Tinto Coal - Australia
- Wood Mackenzie - Singapore
- Tata Chemicals Ltd - India
- Antam Resourcindo - Indonesia
- Chamber of Mines of South Africa
- Samtan Co., Ltd - South Korea
- Semirara Mining Corp, Philippines
- Australian Commodity Traders Exchange
- PetroVietnam Power Coal Import and Supply Company
- Renaissance Capital - South Africa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Thiess Contractors Indonesia
- Global Business Power Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- IEA Clean Coal Centre - UK
- Trasteel International SA, Italy
- Uttam Galva Steels Limited - India
- GMR Energy Limited - India
- Leighton Contractors Pty Ltd - Australia
- Sinarmas Energy and Mining - Indonesia
- Formosa Plastics Group - Taiwan
- Maharashtra Electricity Regulatory Commission - India
- Agrawal Coal Company - India
- Chettinad Cement Corporation Ltd - India
- Georgia Ports Authority, United States
- CIMB Investment Bank - Malaysia
- Bulk Trading Sa - Switzerland
- White Energy Company Limited
- SN Aboitiz Power Inc, Philippines
- Deloitte Consulting - India
- Power Finance Corporation Ltd., India
- Lanco Infratech Ltd - India
- London Commodity Brokers - England
- Bhatia International Limited - India
- Coal and Oil Company - UAE
- Intertek Mineral Services - Indonesia
- Mintek Dendrill Indonesia
- Gujarat Sidhee Cement - India
- Malabar Cements Ltd - India
- Manunggal Multi Energi - Indonesia
- Pendopo Energi Batubara - Indonesia
- ICICI Bank Limited - India
- Australian Coal Association
- Anglo American - United Kingdom
- Mjunction Services Limited - India
- Parliament of New Zealand
- Karaikal Port Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Bukit Makmur.PT - Indonesia
- India Bulls Power Limited - India
- Globalindo Alam Lestari - Indonesia
- The Treasury - Australian Government
- Thai Mozambique Logistica
- Edison Trading Spa - Italy
- Medco Energi Mining Internasional
- Sarangani Energy Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Africa Commodities Group - South Africa
- Kumho Petrochemical, South Korea
- Iligan Light & Power Inc, Philippines
- Sakthi Sugars Limited - India
- Standard Chartered Bank - UAE
- Economic Council, Georgia
- Planning Commission, India
- Jindal Steel & Power Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Singapore Mercantile Exchange
- Vijayanagar Sugar Pvt Ltd - India
- McConnell Dowell - Australia
- Price Waterhouse Coopers - Russia
- Barasentosa Lestari - Indonesia
- Electricity Authority, New Zealand
- PTC India Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Marubeni Corporation - India
- Neyveli Lignite Corporation Ltd, - India
- Interocean Group of Companies - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Merrill Lynch Commodities Europe
- Mercuria Energy - Indonesia
- Indika Energy - Indonesia
- Wilmar Investment Holdings
- Bayan Resources Tbk. - Indonesia
- Coastal Gujarat Power Limited - India
- Petron Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Vizag Seaport Private Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- GAC Shipping (India) Pvt Ltd
- Star Paper Mills Limited - India
- MS Steel International - UAE
- Bukit Baiduri Energy - Indonesia
- Cement Manufacturers Association - India
- Ministry of Transport, Egypt
- International Coal Ventures Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Kideco Jaya Agung - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- TeaM Sual Corporation - Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Billiton Holdings Pty Ltd - Australia
- Port Waratah Coal Services - Australia
- Orica Mining Services - Indonesia
- Eastern Coal Council - USA
- Eastern Energy - Thailand
- The University of Queensland
- Rashtriya Ispat Nigam Limited - India
- Xindia Steels Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Straits Asia Resources Limited - Singapore
- Maheswari Brothers Coal Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Sindya Power Generating Company Private Ltd
- Grasim Industreis Ltd - India
- Ministry of Mines - Canada
- Bharathi Cement Corporation - India
- Central Electricity Authority - India
- Riau Bara Harum - Indonesia
- Mercator Lines Limited - India
- Parry Sugars Refinery, India
- Vedanta Resources Plc - India
- Energy Development Corp, Philippines
- Metalloyd Limited - United Kingdom
- Meralco Power Generation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sical Logistics Limited - India
- Altura Mining Limited, Indonesia
- Karbindo Abesyapradhi - Indoneisa
- GN Power Mariveles Coal Plant, Philippines
- Orica Australia Pty. Ltd.
- Gujarat Electricity Regulatory Commission - India
- Tamil Nadu electricity Board
- Binh Thuan Hamico - Vietnam
- Bangladesh Power Developement Board
- Jaiprakash Power Ventures ltd
- Carbofer General Trading SA - India
- European Bulk Services B.V. - Netherlands
- Kartika Selabumi Mining - Indonesia
- Heidelberg Cement - Germany
- Kobexindo Tractors - Indoneisa
- Attock Cement Pakistan Limited
- Aboitiz Power Corporation - Philippines
- San Jose City I Power Corp, Philippines
- Global Green Power PLC Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Toyota Tsusho Corporation, Japan
- Kohat Cement Company Ltd. - Pakistan
- Essar Steel Hazira Ltd - India
- Savvy Resources Ltd - HongKong
- Indian Oil Corporation Limited
- Makarim & Taira - Indonesia
- Electricity Generating Authority of Thailand
- Dalmia Cement Bharat India
- Energy Link Ltd, New Zealand
- Indogreen Group - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Ministry of Finance - Indonesia
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