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Friday, 18 May 12
EXPORT TAX WILL ERODE PROFITS, INDONESIAN COAL EXEC COMPLAINS - THE JAKARTA GLOBE
 The Jakarta Globe reported that, A 20 percent export duty the government has imposed on 14 mineral ore products will not only take a toll on mining companies’ profits but also cause problems in the domestic market, which won’t be able to absorb all the output, a mining executive said.
Ray Antonio Gunara, president director of Harum Energy (HRUM), a coal mining and logistics company with operations in East Kalimantan, said that his business already had to pay a 13.5 percent royalty and that the additional 20 percent would only cut deeper into its profit margin.
“If the policy is really implemented, it would mean that besides of the 13.5 percent royalty obligation, we will also have to pay another 20 percent to the government and therefore we will only get about 70 percent of sales,” Ray said.
The new rule — moved up to this year from 2014 — bans shipments of unprocessed gold, silver, platinum, copper, lead, nickel, zinc, iron ore and sand iron, manganese, chromium, molybdenum, bauxite and antimony in a bid to boost value-added products.
The government has made exceptions for miners that plan to build smelters. They will be taxed at an average of 20 percent on ore exports.
Some companies may end up holding back ore shipments if the new levy makes mining unprofitable and might focus instead on building smelters or selling domestically.
Ray said if wouldn’t be easy for sales to shift to the domestic market because its absorption rate was much smaller than the export market. Currently around 90 percent of mining products are exported.
However, Herman Afif Kusumo, head of the Indonesia Mining Community Presidium (MPI), said 20 percent was an acceptable level that local mining concerns could still afford. The new taxes were needed to prevent the rapid overexploitation of Indonesia’s natural resources, he said.
Source: The Jakarta Globe
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Friday, 08 February 13
NORTH P&I CLUB WARNS OF LIQUEFACTION RISK FOR BAUXITE CARGOES
The ‘A’ rated 170 million GT North P&I club has warned shipowners carrying bauxite aluminium ore cargoes that they have the potentia ...
Thursday, 07 February 13
CHINA NDRC APPROVED 10 BILLION YUAN POWER GENERATION PROJECTS
NDRC of China currently announced that some of power grid and power station in Jiangxu, Sichuan and Anhui Province would be newly constructed or ext ...
Thursday, 07 February 13
CAPESIZE : MORE ACTIVE WEEK IN THE PACIFIC - FEARNLEYS AS
Handy
The Atlantic market remained stable with no significant movement in rates. Rates from USG to FEast were around USD 18k and Black Sea to Feast ...
Thursday, 07 February 13
WEAK STEEL MARKET MEANS IRON ORE RALLY LIKELY TO END SOON - FITCH
The sharp rebound in iron ore prices over the last couple of months will hurt margins at non-integrated steel producers in the first quarter of 2013 ...
Tuesday, 05 February 13
THE SHIPPING SECTOR IS " NAVIGATING IN STORMY WATERS" - PWC
The vulnerabilities of the global economy have been exposed and have more than played their part in making 2011 one of the worst years of shipping i ...
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- Bukit Baiduri Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Goldman Sachs - Singapore
- Aditya Birla Group - India
- SN Aboitiz Power Inc, Philippines
- Energy Link Ltd, New Zealand
- Dalmia Cement Bharat India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Binh Thuan Hamico - Vietnam
- Latin American Coal - Colombia
- Coastal Gujarat Power Limited - India
- Maheswari Brothers Coal Limited - India
- Indogreen Group - Indonesia
- Mintek Dendrill Indonesia
- Orica Mining Services - Indonesia
- Kepco SPC Power Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Thiess Contractors Indonesia
- Straits Asia Resources Limited - Singapore
- Kobexindo Tractors - Indoneisa
- GN Power Mariveles Coal Plant, Philippines
- South Luzon Thermal Energy Corporation
- Georgia Ports Authority, United States
- Africa Commodities Group - South Africa
- Standard Chartered Bank - UAE
- Electricity Authority, New Zealand
- Bukit Makmur.PT - Indonesia
- The University of Queensland
- Minerals Council of Australia
- International Coal Ventures Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Directorate Of Revenue Intelligence - India
- Trasteel International SA, Italy
- Asmin Koalindo Tuhup - Indonesia
- Mjunction Services Limited - India
- Bangladesh Power Developement Board
- Energy Development Corp, Philippines
- The State Trading Corporation of India Ltd
- Metalloyd Limited - United Kingdom
- Barasentosa Lestari - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Vedanta Resources Plc - India
- Pendopo Energi Batubara - Indonesia
- Riau Bara Harum - Indonesia
- Central Java Power - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Formosa Plastics Group - Taiwan
- Bharathi Cement Corporation - India
- Billiton Holdings Pty Ltd - Australia
- Thai Mozambique Logistica
- Bukit Asam (Persero) Tbk - Indonesia
- Global Business Power Corporation, Philippines
- Meralco Power Generation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Simpson Spence & Young - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Independent Power Producers Association of India
- IEA Clean Coal Centre - UK
- India Bulls Power Limited - India
- Marubeni Corporation - India
- Ministry of Transport, Egypt
- Pipit Mutiara Jaya. PT, Indonesia
- GAC Shipping (India) Pvt Ltd
- Leighton Contractors Pty Ltd - Australia
- Mercator Lines Limited - India
- Meenaskhi Energy Private Limited - India
- Eastern Coal Council - USA
- Iligan Light & Power Inc, Philippines
- Xindia Steels Limited - India
- Mercuria Energy - Indonesia
- Kumho Petrochemical, South Korea
- Bulk Trading Sa - Switzerland
- Borneo Indobara - Indonesia
- The Treasury - Australian Government
- Edison Trading Spa - Italy
- TNB Fuel Sdn Bhd - Malaysia
- Cigading International Bulk Terminal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Semirara Mining Corp, Philippines
- VISA Power Limited - India
- New Zealand Coal & Carbon
- Sree Jayajothi Cements Limited - India
- SMC Global Power, Philippines
- Port Waratah Coal Services - Australia
- Toyota Tsusho Corporation, Japan
- Coalindo Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PowerSource Philippines DevCo
- GMR Energy Limited - India
- Sarangani Energy Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Bhatia International Limited - India
- Bhoruka Overseas - Indonesia
- Sindya Power Generating Company Private Ltd
- Agrawal Coal Company - India
- Ceylon Electricity Board - Sri Lanka
- San Jose City I Power Corp, Philippines
- Jaiprakash Power Ventures ltd
- Power Finance Corporation Ltd., India
- IHS Mccloskey Coal Group - USA
- Rashtriya Ispat Nigam Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Australian Commodity Traders Exchange
- Vizag Seaport Private Limited - India
- Karaikal Port Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Maharashtra Electricity Regulatory Commission - India
- ASAPP Information Group - India
- Heidelberg Cement - Germany
- Jindal Steel & Power Ltd - India
- Deloitte Consulting - India
- Orica Australia Pty. Ltd.
- Indian Energy Exchange, India
- Therma Luzon, Inc, Philippines
- Gujarat Sidhee Cement - India
- Sinarmas Energy and Mining - Indonesia
- Baramulti Group, Indonesia
- SMG Consultants - Indonesia
- GVK Power & Infra Limited - India
- Commonwealth Bank - Australia
- CNBM International Corporation - China
- Petrochimia International Co. Ltd.- Taiwan
- Sical Logistics Limited - India
- Savvy Resources Ltd - HongKong
- PTC India Limited - India
- Attock Cement Pakistan Limited
- Kideco Jaya Agung - Indonesia
- Banpu Public Company Limited - Thailand
- Kohat Cement Company Ltd. - Pakistan
- Bahari Cakrawala Sebuku - Indonesia
- Sakthi Sugars Limited - India
- White Energy Company Limited
- Alfred C Toepfer International GmbH - Germany
- Krishnapatnam Port Company Ltd. - India
- Kartika Selabumi Mining - Indonesia
- Essar Steel Hazira Ltd - India
- Carbofer General Trading SA - India
- PNOC Exploration Corporation - Philippines
- Aboitiz Power Corporation - Philippines
- Eastern Energy - Thailand
- Lanco Infratech Ltd - India
- Tamil Nadu electricity Board
- Petron Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Parliament of New Zealand
- Singapore Mercantile Exchange
- Gujarat Mineral Development Corp Ltd - India
- Interocean Group of Companies - India
- Star Paper Mills Limited - India
- Romanian Commodities Exchange
- Renaissance Capital - South Africa
- Indika Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Uttam Galva Steels Limited - India
- Indo Tambangraya Megah - Indonesia
- Chamber of Mines of South Africa
- Medco Energi Mining Internasional
- ICICI Bank Limited - India
- Ind-Barath Power Infra Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Salva Resources Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Merrill Lynch Commodities Europe
- Indonesian Coal Mining Association
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Videocon Industries ltd - India
- Oldendorff Carriers - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Wood Mackenzie - Singapore
- Malabar Cements Ltd - India
- Central Electricity Authority - India
- Miang Besar Coal Terminal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Coal and Oil Company - UAE
- CIMB Investment Bank - Malaysia
- McConnell Dowell - Australia
- Indian Oil Corporation Limited
- Madhucon Powers Ltd - India
- Parry Sugars Refinery, India
- LBH Netherlands Bv - Netherlands
- Intertek Mineral Services - Indonesia
- Australian Coal Association
- Kaltim Prima Coal - Indonesia
- Anglo American - United Kingdom
- Cement Manufacturers Association - India
- Holcim Trading Pte Ltd - Singapore
- Siam City Cement - Thailand
- Posco Energy - South Korea
- Siam City Cement PLC, Thailand
- Tata Chemicals Ltd - India
- Ministry of Finance - Indonesia
- Bhushan Steel Limited - India
- Altura Mining Limited, Indonesia
- Wilmar Investment Holdings
- Electricity Generating Authority of Thailand
- Ministry of Mines - Canada
- Ambuja Cements Ltd - India
- Timah Investasi Mineral - Indoneisa
- TeaM Sual Corporation - Philippines
- London Commodity Brokers - England
- Jorong Barutama Greston.PT - Indonesia
- Planning Commission, India
- Price Waterhouse Coopers - Russia
- Economic Council, Georgia
- Sojitz Corporation - Japan
- Grasim Industreis Ltd - India
- Rio Tinto Coal - Australia
- Larsen & Toubro Limited - India
- Directorate General of MIneral and Coal - Indonesia
- MS Steel International - UAE
- OPG Power Generation Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Global Coal Blending Company Limited - Australia
- European Bulk Services B.V. - Netherlands
- Makarim & Taira - Indonesia
- Globalindo Alam Lestari - Indonesia
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