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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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Wednesday, 11 April 12
DRY BULK MARKET STILL SUBDUED, RECOVERY NOT YET SEEN - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market entered the new week after the past days of easter holidays in western countries in a subdued mood. The industry’s benchma ...
Monday, 09 April 12
WEEKLY DRY MARKET OVERVIEW - MARIA BERTZELETOU, HELLENIC SHIPPING
The first week of April ended with the Baltic Dry Index falling below 950 points, before Catholic Easter, and capesizes showing a modest upturn with ...
Sunday, 08 April 12
CHARTER RATES COULD CONTINUE TO BE SOFT NEXT WEEK - VISTAAR
COALspot.com - The BDI was almost at same levels closing slightly lower by 0.64 pct at 928 points.
The Cape index was up by 6.73 pct closing at ...
Friday, 06 April 12
INDONESIAN HBA FALL TO LOWEST LEVEL SINCE JANUARY 2011
COALspot.com - Indonesian HBA fall to lowest level since January 2011 this month. The monthly coal reference price for coal sales in April fal ...
Friday, 06 April 12
DRY BULK MARKET SWIFT TO HALT FALL ON RENEWED DEMAND FOR CAPESIZES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk managed to put a stop to the recent falls, which came as a result of a lacklustre demand for smaller vessel sizes. Although this trend ...
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- Bukit Asam (Persero) Tbk - Indonesia
- Electricity Generating Authority of Thailand
- San Jose City I Power Corp, Philippines
- Ambuja Cements Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Pendopo Energi Batubara - Indonesia
- Mintek Dendrill Indonesia
- Iligan Light & Power Inc, Philippines
- Siam City Cement PLC, Thailand
- Salva Resources Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Medco Energi Mining Internasional
- Bhatia International Limited - India
- IHS Mccloskey Coal Group - USA
- Star Paper Mills Limited - India
- Carbofer General Trading SA - India
- Independent Power Producers Association of India
- Ceylon Electricity Board - Sri Lanka
- CNBM International Corporation - China
- Therma Luzon, Inc, Philippines
- Barasentosa Lestari - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Toyota Tsusho Corporation, Japan
- MS Steel International - UAE
- Kaltim Prima Coal - Indonesia
- Baramulti Group, Indonesia
- Madhucon Powers Ltd - India
- Goldman Sachs - Singapore
- Xindia Steels Limited - India
- Siam City Cement - Thailand
- Orica Mining Services - Indonesia
- TeaM Sual Corporation - Philippines
- Cement Manufacturers Association - India
- South Luzon Thermal Energy Corporation
- SMG Consultants - Indonesia
- AsiaOL BioFuels Corp., Philippines
- European Bulk Services B.V. - Netherlands
- Bangladesh Power Developement Board
- ICICI Bank Limited - India
- Manunggal Multi Energi - Indonesia
- GVK Power & Infra Limited - India
- The Treasury - Australian Government
- Tamil Nadu electricity Board
- Gujarat Sidhee Cement - India
- Indika Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Meralco Power Generation, Philippines
- Petron Corporation, Philippines
- Trasteel International SA, Italy
- Billiton Holdings Pty Ltd - Australia
- Minerals Council of Australia
- Directorate Of Revenue Intelligence - India
- Planning Commission, India
- Bulk Trading Sa - Switzerland
- Malabar Cements Ltd - India
- Economic Council, Georgia
- LBH Netherlands Bv - Netherlands
- Rashtriya Ispat Nigam Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Mjunction Services Limited - India
- Ministry of Transport, Egypt
- Borneo Indobara - Indonesia
- Meenaskhi Energy Private Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Parry Sugars Refinery, India
- Interocean Group of Companies - India
- Alfred C Toepfer International GmbH - Germany
- Directorate General of MIneral and Coal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kideco Jaya Agung - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Dalmia Cement Bharat India
- Renaissance Capital - South Africa
- Eastern Coal Council - USA
- Sical Logistics Limited - India
- Timah Investasi Mineral - Indoneisa
- PTC India Limited - India
- Bhoruka Overseas - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Wood Mackenzie - Singapore
- Karaikal Port Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Jaiprakash Power Ventures ltd
- Heidelberg Cement - Germany
- Globalindo Alam Lestari - Indonesia
- Orica Australia Pty. Ltd.
- Kumho Petrochemical, South Korea
- Antam Resourcindo - Indonesia
- Global Business Power Corporation, Philippines
- McConnell Dowell - Australia
- Sindya Power Generating Company Private Ltd
- Semirara Mining Corp, Philippines
- Simpson Spence & Young - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sojitz Corporation - Japan
- Thai Mozambique Logistica
- The State Trading Corporation of India Ltd
- Asmin Koalindo Tuhup - Indonesia
- Leighton Contractors Pty Ltd - Australia
- ASAPP Information Group - India
- Singapore Mercantile Exchange
- Indian Oil Corporation Limited
- Aboitiz Power Corporation - Philippines
- Aditya Birla Group - India
- Krishnapatnam Port Company Ltd. - India
- Marubeni Corporation - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Vedanta Resources Plc - India
- India Bulls Power Limited - India
- Riau Bara Harum - Indonesia
- Sree Jayajothi Cements Limited - India
- SMC Global Power, Philippines
- White Energy Company Limited
- SN Aboitiz Power Inc, Philippines
- Energy Link Ltd, New Zealand
- Lanco Infratech Ltd - India
- Agrawal Coal Company - India
- Australian Coal Association
- Posco Energy - South Korea
- Jindal Steel & Power Ltd - India
- Rio Tinto Coal - Australia
- Central Electricity Authority - India
- Larsen & Toubro Limited - India
- Ministry of Finance - Indonesia
- Wilmar Investment Holdings
- Commonwealth Bank - Australia
- PetroVietnam Power Coal Import and Supply Company
- Power Finance Corporation Ltd., India
- Mercator Lines Limited - India
- Chamber of Mines of South Africa
- Maheswari Brothers Coal Limited - India
- Makarim & Taira - Indonesia
- Straits Asia Resources Limited - Singapore
- Price Waterhouse Coopers - Russia
- Africa Commodities Group - South Africa
- Semirara Mining and Power Corporation, Philippines
- Indonesian Coal Mining Association
- PNOC Exploration Corporation - Philippines
- Bukit Makmur.PT - Indonesia
- IEA Clean Coal Centre - UK
- Coal and Oil Company - UAE
- GN Power Mariveles Coal Plant, Philippines
- Coastal Gujarat Power Limited - India
- Metalloyd Limited - United Kingdom
- Attock Cement Pakistan Limited
- Anglo American - United Kingdom
- Holcim Trading Pte Ltd - Singapore
- Central Java Power - Indonesia
- Merrill Lynch Commodities Europe
- Sakthi Sugars Limited - India
- GAC Shipping (India) Pvt Ltd
- Altura Mining Limited, Indonesia
- GMR Energy Limited - India
- Deloitte Consulting - India
- Indo Tambangraya Megah - Indonesia
- New Zealand Coal & Carbon
- London Commodity Brokers - England
- Maharashtra Electricity Regulatory Commission - India
- Bahari Cakrawala Sebuku - Indonesia
- Indian Energy Exchange, India
- Kapuas Tunggal Persada - Indonesia
- The University of Queensland
- Petrochimia International Co. Ltd.- Taiwan
- Intertek Mineral Services - Indonesia
- Energy Development Corp, Philippines
- Kartika Selabumi Mining - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- PowerSource Philippines DevCo
- Kepco SPC Power Corporation, Philippines
- Parliament of New Zealand
- Edison Trading Spa - Italy
- Electricity Authority, New Zealand
- OPG Power Generation Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Banpu Public Company Limited - Thailand
- Latin American Coal - Colombia
- Pipit Mutiara Jaya. PT, Indonesia
- Romanian Commodities Exchange
- Bhushan Steel Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Tata Chemicals Ltd - India
- Ministry of Mines - Canada
- Indogreen Group - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Standard Chartered Bank - UAE
- Videocon Industries ltd - India
- Mercuria Energy - Indonesia
- CIMB Investment Bank - Malaysia
- Global Coal Blending Company Limited - Australia
- Georgia Ports Authority, United States
- Port Waratah Coal Services - Australia
- Vizag Seaport Private Limited - India
- Uttam Galva Steels Limited - India
- Coalindo Energy - Indonesia
- VISA Power Limited - India
- Savvy Resources Ltd - HongKong
- Ind-Barath Power Infra Limited - India
- Oldendorff Carriers - Singapore
- Sarangani Energy Corporation, Philippines
- Bharathi Cement Corporation - India
- Formosa Plastics Group - Taiwan
- Australian Commodity Traders Exchange
- Bank of Tokyo Mitsubishi UFJ Ltd
- Thiess Contractors Indonesia
- International Coal Ventures Pvt Ltd - India
- Grasim Industreis Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Bayan Resources Tbk. - Indonesia
- Eastern Energy - Thailand
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