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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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Monday, 27 February 12
WEEKLY DRY MARKET OVERVIEW - MARIA BERTZELETOU, HELLENIC SHIPPING
The pessimism in the dry market persists with the Baltic Dry Index still trying to find a steady pace of growth and average time charter earnings fo ...
Sunday, 26 February 12
THE FREIGHT RATES FOR INDONESIA TO INDIA IS LIKELY TO BE FIRM FOR NEXT 2/3 WEEKS - VISTAAR
COALspot.com – “There was not much change in the BDI and other indices this week except for the Panamax which was down by 11.91 pc ...
Friday, 24 February 12
DRY BULK MARKET POSTS FIRST REBOUND IN A WEEK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
As was expected since mid-week, the dry bulk market's benchmark, the BDI (Baltic Dry Index) has managed to put a stop in a 6-day losing rally, endi ...
Thursday, 23 February 12
2.5 PANAMAX VESSELS PER AVAILABLE CARGO FOR MARCH DATES - FEARN BULK
Handy
Another depressing week for Supras in both basins. Lack of fresh business and over-supply of tonnage in the Atlantic pushed rates south. Cont ...
Wednesday, 22 February 12
RAW COMMODITY EXPORT BAN SPARKS SMELTER BUILDING BOOM IN INDONESIA ANTARA / THE JAKARTA GLOBE
Antara / The Jakarta Globe reported that, as the government gears up to ban all exports of unprocessed commodities, Indonesia will see 12 new ...
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- Larsen & Toubro Limited - India
- Makarim & Taira - Indonesia
- Directorate Of Revenue Intelligence - India
- Bukit Asam (Persero) Tbk - Indonesia
- Manunggal Multi Energi - Indonesia
- Bhushan Steel Limited - India
- The Treasury - Australian Government
- GVK Power & Infra Limited - India
- Sinarmas Energy and Mining - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Economic Council, Georgia
- Alfred C Toepfer International GmbH - Germany
- Global Business Power Corporation, Philippines
- Dalmia Cement Bharat India
- Leighton Contractors Pty Ltd - Australia
- Australian Commodity Traders Exchange
- IHS Mccloskey Coal Group - USA
- Energy Development Corp, Philippines
- Karaikal Port Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- International Coal Ventures Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Indonesian Coal Mining Association
- Miang Besar Coal Terminal - Indonesia
- Antam Resourcindo - Indonesia
- Sindya Power Generating Company Private Ltd
- Coalindo Energy - Indonesia
- CIMB Investment Bank - Malaysia
- Uttam Galva Steels Limited - India
- Essar Steel Hazira Ltd - India
- Star Paper Mills Limited - India
- Edison Trading Spa - Italy
- Rashtriya Ispat Nigam Limited - India
- Tata Chemicals Ltd - India
- Timah Investasi Mineral - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- Medco Energi Mining Internasional
- Madhucon Powers Ltd - India
- PTC India Limited - India
- GN Power Mariveles Coal Plant, Philippines
- GMR Energy Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Kohat Cement Company Ltd. - Pakistan
- Ceylon Electricity Board - Sri Lanka
- Latin American Coal - Colombia
- Central Electricity Authority - India
- Parliament of New Zealand
- Commonwealth Bank - Australia
- Xindia Steels Limited - India
- Mercuria Energy - Indonesia
- Goldman Sachs - Singapore
- VISA Power Limited - India
- Cigading International Bulk Terminal - Indonesia
- ASAPP Information Group - India
- PNOC Exploration Corporation - Philippines
- GAC Shipping (India) Pvt Ltd
- Salva Resources Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Kobexindo Tractors - Indoneisa
- Pipit Mutiara Jaya. PT, Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Posco Energy - South Korea
- White Energy Company Limited
- Carbofer General Trading SA - India
- Ambuja Cements Ltd - India
- Tamil Nadu electricity Board
- Orica Mining Services - Indonesia
- Sical Logistics Limited - India
- Thai Mozambique Logistica
- Bharathi Cement Corporation - India
- Marubeni Corporation - India
- Ministry of Finance - Indonesia
- Singapore Mercantile Exchange
- Merrill Lynch Commodities Europe
- TeaM Sual Corporation - Philippines
- Minerals Council of Australia
- Samtan Co., Ltd - South Korea
- Asia Pacific Energy Resources Ventures Inc, Philippines
- New Zealand Coal & Carbon
- Wood Mackenzie - Singapore
- Meenaskhi Energy Private Limited - India
- Kumho Petrochemical, South Korea
- Jaiprakash Power Ventures ltd
- Orica Australia Pty. Ltd.
- Kalimantan Lumbung Energi - Indonesia
- Wilmar Investment Holdings
- Holcim Trading Pte Ltd - Singapore
- Krishnapatnam Port Company Ltd. - India
- Romanian Commodities Exchange
- SMG Consultants - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Chettinad Cement Corporation Ltd - India
- Eastern Coal Council - USA
- Maharashtra Electricity Regulatory Commission - India
- London Commodity Brokers - England
- Renaissance Capital - South Africa
- Semirara Mining and Power Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Interocean Group of Companies - India
- Semirara Mining Corp, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Jindal Steel & Power Ltd - India
- Kartika Selabumi Mining - Indonesia
- IEA Clean Coal Centre - UK
- Vedanta Resources Plc - India
- Port Waratah Coal Services - Australia
- Eastern Energy - Thailand
- Indogreen Group - Indonesia
- Coastal Gujarat Power Limited - India
- Asmin Koalindo Tuhup - Indonesia
- ICICI Bank Limited - India
- Attock Cement Pakistan Limited
- Price Waterhouse Coopers - Russia
- Savvy Resources Ltd - HongKong
- Siam City Cement - Thailand
- Indian Energy Exchange, India
- Neyveli Lignite Corporation Ltd, - India
- Kideco Jaya Agung - Indonesia
- Ind-Barath Power Infra Limited - India
- Global Coal Blending Company Limited - Australia
- Coal and Oil Company - UAE
- Heidelberg Cement - Germany
- Sree Jayajothi Cements Limited - India
- Anglo American - United Kingdom
- Vizag Seaport Private Limited - India
- Altura Mining Limited, Indonesia
- Aditya Birla Group - India
- India Bulls Power Limited - India
- Malabar Cements Ltd - India
- Toyota Tsusho Corporation, Japan
- Thiess Contractors Indonesia
- Petron Corporation, Philippines
- Bhatia International Limited - India
- Therma Luzon, Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Banpu Public Company Limited - Thailand
- Bulk Trading Sa - Switzerland
- Georgia Ports Authority, United States
- Rio Tinto Coal - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bangladesh Power Developement Board
- Kaltim Prima Coal - Indonesia
- PowerSource Philippines DevCo
- Gujarat Electricity Regulatory Commission - India
- SMC Global Power, Philippines
- Central Java Power - Indonesia
- Sarangani Energy Corporation, Philippines
- Meralco Power Generation, Philippines
- The University of Queensland
- Bukit Makmur.PT - Indonesia
- Cement Manufacturers Association - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Global Green Power PLC Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Oldendorff Carriers - Singapore
- Kepco SPC Power Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Trasteel International SA, Italy
- Grasim Industreis Ltd - India
- Sakthi Sugars Limited - India
- European Bulk Services B.V. - Netherlands
- Ministry of Transport, Egypt
- Mintek Dendrill Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Intertek Mineral Services - Indonesia
- Lanco Infratech Ltd - India
- Agrawal Coal Company - India
- Maheswari Brothers Coal Limited - India
- CNBM International Corporation - China
- Parry Sugars Refinery, India
- Barasentosa Lestari - Indonesia
- Indian Oil Corporation Limited
- Sojitz Corporation - Japan
- Borneo Indobara - Indonesia
- Independent Power Producers Association of India
- Indika Energy - Indonesia
- MS Steel International - UAE
- Electricity Generating Authority of Thailand
- Baramulti Group, Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Jorong Barutama Greston.PT - Indonesia
- Deloitte Consulting - India
- AsiaOL BioFuels Corp., Philippines
- Pendopo Energi Batubara - Indonesia
- McConnell Dowell - Australia
- Formosa Plastics Group - Taiwan
- Metalloyd Limited - United Kingdom
- Africa Commodities Group - South Africa
- South Luzon Thermal Energy Corporation
- Siam City Cement PLC, Thailand
- Chamber of Mines of South Africa
- Ministry of Mines - Canada
- Bukit Baiduri Energy - Indonesia
- Australian Coal Association
- Standard Chartered Bank - UAE
- Electricity Authority, New Zealand
- Binh Thuan Hamico - Vietnam
- The State Trading Corporation of India Ltd
- Gujarat Sidhee Cement - India
- Videocon Industries ltd - India
- Planning Commission, India
- Power Finance Corporation Ltd., India
- Mercator Lines Limited - India
- Billiton Holdings Pty Ltd - Australia
- Globalindo Alam Lestari - Indonesia
- Bhoruka Overseas - Indonesia
- Straits Asia Resources Limited - Singapore
- Mjunction Services Limited - India
- Iligan Light & Power Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Riau Bara Harum - Indonesia
- Kapuas Tunggal Persada - Indonesia
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