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Friday, 13 April 12
MINERS OPPOSE GOVTS EXPORT TAX PLAN - THE JAKARTA POST
 The Jakarta Post reported that, Indonesian mining companies have strongly protested the government’s plan to impose a 25 percent export tax on mineral ores and coal, saying that the measure would severely hurt their businesses because they already pay high income tax rates.
The executive director of the Indonesian Mining Association (IMA), Syahrir Abubakar, said in Jakarta on Thursday that the government should be aware that under their contracts of work, miners paid a corporate income rate of between 35 and 45 percent, which was higher than the 25 percent imposed on other companies.
“Some of them pay between 35 percent and 45 percent even though the 2008 Income Tax Law regulates that the tax is only 25 percent,” he told reporters on the sidelines of the launch of the Mining & Engineering Indonesian Exhibition in Jakarta on Thursday.
If the government insists on applying the export tax, it should also declare that all companies pay tax according to prevailing laws, and not based on their contracts, he said. Currently, contracts of work in the country use the principle of “nail down” in which the taxes paid by miners follow the regulations in force when the contracts were signed, he explained.
“It’s no problem if the government wants to increase its revenue by applying new taxes, but it has to ensure that all the companies are on the same level playing field and are getting the same treatment. If not, this will kill the companies,” Syahrir said.
The government has the power to call all contract holders and inform them that it will apply the prevailing laws in tax payment and therefore the conditions in the contracts have to be renegotiated, he said.
“There’s nothing wrong with the government’s desire to boost tax revenue, but it has to do it in a way that doesn’t endanger the miners,” he said.
He said the government had never invited mining companies to discuss the plan.
Supriatna Suhala, the executive director of the Indonesian Coal Mining Association (APBI), agreed with Syahrir that equal treatment for all miners was necessary. However, he warned that implementing the plan would be difficult if not impossible.
“If the government insists, we have to revise the content of the 2009 Minerals and Coal Law. Our contracts with the government must also be renewed. What we need is equal treatment. Now, companies pay taxes and royalties in different amounts,” he said over the phone.
“In my opinion, this plan will do more harm than good.”
The discourse over the export tax first began following Industry Minister MS Hidayat’s statement that the policy was aimed at preventing companies overexploiting the county’s mineral resources and selling it in ore form without thinking about the future of the nation’s reserves.
The planned tax will supplement the government’s decision to ban mineral ore exports in 2014, which is mandated by the 2009 Minerals and Coal Law and a 2012 ministerial regulation.
When asked about the export duty, the Energy and Mineral Resources Ministry’s director general for minerals and coal, Thamrin Sihite, declined to comment.
Source: The Jakarta Post
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Tuesday, 22 May 12
NEW ONE-YEAR TIME CHARTERS FOR TWO VESSELS OF EXCEL MARITIME CARRIERS LTD.
Excel Maritime Carriers Ltd. (NYSE: EXM), an owner and operator of dry bulk carriers and an international provider of worldwide seaborne transportat ...
Tuesday, 22 May 12
DRY BULK MARKET STEADY, AWAITING FURTHER RISE IN DEMAND WHICH IS DOUBTFUL - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Traditionally, the second and third quarters of the year are the strongest for the dry bulk market, but this year, things seem to be quite subdued, ...
Sunday, 20 May 12
SPOT FREIGHT RATE DIPS FURTHER - VISTAAR
COALspot.com - The BDI was marginally up by 3 points (0.26 pct) closing at 1,141 points.
The cape index was up by 1.17 pct closing at 1,633 point ...
Saturday, 19 May 12
INDONESIAN SUB-BITUMINOUS COAL SWAPS DROP US$ 2.88 PMT W-O-W
COALspot.com - Indonesian sub-bituminous coal swaps and CFR South China coal contracts for June deliveries have drops this week by 3.86 percent and& ...
Saturday, 19 May 12
INDONESIAN EXPORT TAX GIVES COAL MINERS A CHEAP RIDE: ANALYSTS - THE JAKARTA GLOBE
The Jakarta Globe reported that, Indonesia’s policy to exclude coal from an export tax that has been applied to 14 other mineral commodities h ...
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- PTC India Limited - India
- Aditya Birla Group - India
- Makarim & Taira - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Parry Sugars Refinery, India
- Indian Energy Exchange, India
- GAC Shipping (India) Pvt Ltd
- Gujarat Mineral Development Corp Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Jindal Steel & Power Ltd - India
- Carbofer General Trading SA - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bangladesh Power Developement Board
- Altura Mining Limited, Indonesia
- IEA Clean Coal Centre - UK
- Meralco Power Generation, Philippines
- Bhatia International Limited - India
- Leighton Contractors Pty Ltd - Australia
- London Commodity Brokers - England
- Standard Chartered Bank - UAE
- LBH Netherlands Bv - Netherlands
- Latin American Coal - Colombia
- Sakthi Sugars Limited - India
- Uttam Galva Steels Limited - India
- MS Steel International - UAE
- Sindya Power Generating Company Private Ltd
- Trasteel International SA, Italy
- European Bulk Services B.V. - Netherlands
- IHS Mccloskey Coal Group - USA
- Cigading International Bulk Terminal - Indonesia
- Intertek Mineral Services - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Commonwealth Bank - Australia
- Thiess Contractors Indonesia
- ASAPP Information Group - India
- Alfred C Toepfer International GmbH - Germany
- Kobexindo Tractors - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- Billiton Holdings Pty Ltd - Australia
- Mintek Dendrill Indonesia
- Straits Asia Resources Limited - Singapore
- Mjunction Services Limited - India
- Attock Cement Pakistan Limited
- Energy Development Corp, Philippines
- Tata Chemicals Ltd - India
- McConnell Dowell - Australia
- Riau Bara Harum - Indonesia
- Dalmia Cement Bharat India
- Mercuria Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Parliament of New Zealand
- Kaltim Prima Coal - Indonesia
- Australian Coal Association
- Ind-Barath Power Infra Limited - India
- Kepco SPC Power Corporation, Philippines
- The University of Queensland
- Timah Investasi Mineral - Indoneisa
- Vedanta Resources Plc - India
- Coalindo Energy - Indonesia
- Medco Energi Mining Internasional
- Madhucon Powers Ltd - India
- Sree Jayajothi Cements Limited - India
- Coastal Gujarat Power Limited - India
- SMC Global Power, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Bukit Asam (Persero) Tbk - Indonesia
- Therma Luzon, Inc, Philippines
- The Treasury - Australian Government
- Simpson Spence & Young - Indonesia
- Goldman Sachs - Singapore
- Romanian Commodities Exchange
- Chamber of Mines of South Africa
- White Energy Company Limited
- Electricity Generating Authority of Thailand
- Petron Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Planning Commission, India
- Marubeni Corporation - India
- Ministry of Transport, Egypt
- Karbindo Abesyapradhi - Indoneisa
- Wood Mackenzie - Singapore
- Antam Resourcindo - Indonesia
- Lanco Infratech Ltd - India
- Coal and Oil Company - UAE
- Grasim Industreis Ltd - India
- Africa Commodities Group - South Africa
- Port Waratah Coal Services - Australia
- Tamil Nadu electricity Board
- ICICI Bank Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Savvy Resources Ltd - HongKong
- Mercator Lines Limited - India
- Borneo Indobara - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Pendopo Energi Batubara - Indonesia
- Thai Mozambique Logistica
- Rio Tinto Coal - Australia
- Directorate General of MIneral and Coal - Indonesia
- Essar Steel Hazira Ltd - India
- Larsen & Toubro Limited - India
- Ambuja Cements Ltd - India
- Edison Trading Spa - Italy
- Central Java Power - Indonesia
- San Jose City I Power Corp, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Sarangani Energy Corporation, Philippines
- Star Paper Mills Limited - India
- CNBM International Corporation - China
- Maheswari Brothers Coal Limited - India
- Central Electricity Authority - India
- Binh Thuan Hamico - Vietnam
- Indika Energy - Indonesia
- Minerals Council of Australia
- Semirara Mining Corp, Philippines
- Manunggal Multi Energi - Indonesia
- Independent Power Producers Association of India
- Kapuas Tunggal Persada - Indonesia
- Siam City Cement - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Renaissance Capital - South Africa
- Indo Tambangraya Megah - Indonesia
- Bharathi Cement Corporation - India
- Bukit Makmur.PT - Indonesia
- Singapore Mercantile Exchange
- Iligan Light & Power Inc, Philippines
- GVK Power & Infra Limited - India
- Heidelberg Cement - Germany
- Sinarmas Energy and Mining - Indonesia
- International Coal Ventures Pvt Ltd - India
- SMG Consultants - Indonesia
- Indogreen Group - Indonesia
- Cement Manufacturers Association - India
- Indonesian Coal Mining Association
- Kumho Petrochemical, South Korea
- Orica Australia Pty. Ltd.
- Metalloyd Limited - United Kingdom
- Bhoruka Overseas - Indonesia
- Malabar Cements Ltd - India
- Chettinad Cement Corporation Ltd - India
- Power Finance Corporation Ltd., India
- Jaiprakash Power Ventures ltd
- SN Aboitiz Power Inc, Philippines
- Energy Link Ltd, New Zealand
- Rashtriya Ispat Nigam Limited - India
- Baramulti Group, Indonesia
- Globalindo Alam Lestari - Indonesia
- Banpu Public Company Limited - Thailand
- TeaM Sual Corporation - Philippines
- Siam City Cement PLC, Thailand
- Jorong Barutama Greston.PT - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Economic Council, Georgia
- Kideco Jaya Agung - Indonesia
- Aboitiz Power Corporation - Philippines
- Ministry of Finance - Indonesia
- PNOC Exploration Corporation - Philippines
- VISA Power Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- CIMB Investment Bank - Malaysia
- Barasentosa Lestari - Indonesia
- Bulk Trading Sa - Switzerland
- Holcim Trading Pte Ltd - Singapore
- Bayan Resources Tbk. - Indonesia
- Interocean Group of Companies - India
- India Bulls Power Limited - India
- Orica Mining Services - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Formosa Plastics Group - Taiwan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Meenaskhi Energy Private Limited - India
- Miang Besar Coal Terminal - Indonesia
- Anglo American - United Kingdom
- Eastern Coal Council - USA
- South Luzon Thermal Energy Corporation
- Electricity Authority, New Zealand
- Global Business Power Corporation, Philippines
- The State Trading Corporation of India Ltd
- Samtan Co., Ltd - South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Posco Energy - South Korea
- OPG Power Generation Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Directorate Of Revenue Intelligence - India
- Bahari Cakrawala Sebuku - Indonesia
- Salva Resources Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- PowerSource Philippines DevCo
- GMR Energy Limited - India
- Oldendorff Carriers - Singapore
- Deloitte Consulting - India
- Videocon Industries ltd - India
- Australian Commodity Traders Exchange
- Merrill Lynch Commodities Europe
- Georgia Ports Authority, United States
- Gujarat Electricity Regulatory Commission - India
- Global Coal Blending Company Limited - Australia
- Xindia Steels Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bukit Baiduri Energy - Indonesia
- Agrawal Coal Company - India
- Vizag Seaport Private Limited - India
- Indian Oil Corporation Limited
- Bhushan Steel Limited - India
- Gujarat Sidhee Cement - India
- New Zealand Coal & Carbon
- Sojitz Corporation - Japan
- Wilmar Investment Holdings
- Eastern Energy - Thailand
- Ministry of Mines - Canada
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sical Logistics Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Karaikal Port Pvt Ltd - India
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