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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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Monday, 31 December 12
"DISTRESSED", "ECO" AND "FINANCE" ARE THE THREE WORDS WHICH CHARACTERIZED 2012 - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
2012 was yet another year of speculation, anticipation, pessimism and more speculation in the shipping markets. According to the latest weekly repor ...
Saturday, 29 December 12
SHIPBREAKING YARDS IN INDIA DEMOLISH A TOTAL OF 527 VESSELS IN 2012, BREAKING ALL PREVIOUS RECORDS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
India's ship demolition experts of Star Matrix contemplated this week on the issue of why ships in the range of 1,000 and up to 6,500 liquid tons ( ...
Thursday, 27 December 12
A LOOK AT WORLD TRADE PATTERNS DURING 2013 - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
While China's leaders are likely to stick with the 2012 economic growth rate of 7.5% when they chart a course for 2013 - its weakest pace since 199 ...
Thursday, 27 December 12
INDONESIA SHIPPED 33.578* MMT COAL IN NOVEMBER
COALspot.com: Indonesia, the world largest multi grade coal exporter has shipped 33.578* million tons of coal in November 2012. thi ...
Wednesday, 26 December 12
UPDATE ON EXPORT BAN ON RAW MINERALS AND ORE - RITA SUSANTO
COALspot.com - In May 2012, the Minister of Energy and Mineral Resources (“MoEMR”) in Regulation No.7 (“Reg-7”, amended by R ...
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- Global Coal Blending Company Limited - Australia
- Gujarat Mineral Development Corp Ltd - India
- Bukit Baiduri Energy - Indonesia
- Kumho Petrochemical, South Korea
- Kepco SPC Power Corporation, Philippines
- Goldman Sachs - Singapore
- Essar Steel Hazira Ltd - India
- GMR Energy Limited - India
- Barasentosa Lestari - Indonesia
- Latin American Coal - Colombia
- Petron Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Meenaskhi Energy Private Limited - India
- Sarangani Energy Corporation, Philippines
- Larsen & Toubro Limited - India
- London Commodity Brokers - England
- Kaltim Prima Coal - Indonesia
- ICICI Bank Limited - India
- Lanco Infratech Ltd - India
- Marubeni Corporation - India
- Bulk Trading Sa - Switzerland
- Trasteel International SA, Italy
- IHS Mccloskey Coal Group - USA
- Pipit Mutiara Jaya. PT, Indonesia
- Bukit Makmur.PT - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- White Energy Company Limited
- Intertek Mineral Services - Indonesia
- PTC India Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Binh Thuan Hamico - Vietnam
- LBH Netherlands Bv - Netherlands
- Sindya Power Generating Company Private Ltd
- The University of Queensland
- Ministry of Mines - Canada
- Neyveli Lignite Corporation Ltd, - India
- New Zealand Coal & Carbon
- Straits Asia Resources Limited - Singapore
- Mercuria Energy - Indonesia
- Videocon Industries ltd - India
- Star Paper Mills Limited - India
- Bayan Resources Tbk. - Indonesia
- Sree Jayajothi Cements Limited - India
- Grasim Industreis Ltd - India
- OPG Power Generation Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Jindal Steel & Power Ltd - India
- Bharathi Cement Corporation - India
- Therma Luzon, Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- IEA Clean Coal Centre - UK
- Asmin Koalindo Tuhup - Indonesia
- Baramulti Group, Indonesia
- Standard Chartered Bank - UAE
- Cigading International Bulk Terminal - Indonesia
- Savvy Resources Ltd - HongKong
- Madhucon Powers Ltd - India
- Antam Resourcindo - Indonesia
- Ministry of Finance - Indonesia
- Rio Tinto Coal - Australia
- GVK Power & Infra Limited - India
- Semirara Mining Corp, Philippines
- Ambuja Cements Ltd - India
- Global Green Power PLC Corporation, Philippines
- Samtan Co., Ltd - South Korea
- AsiaOL BioFuels Corp., Philippines
- The Treasury - Australian Government
- Directorate Of Revenue Intelligence - India
- Energy Link Ltd, New Zealand
- Vedanta Resources Plc - India
- Vizag Seaport Private Limited - India
- Thai Mozambique Logistica
- Mjunction Services Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Meralco Power Generation, Philippines
- Cement Manufacturers Association - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mintek Dendrill Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Toyota Tsusho Corporation, Japan
- Africa Commodities Group - South Africa
- Interocean Group of Companies - India
- Sakthi Sugars Limited - India
- ASAPP Information Group - India
- Sojitz Corporation - Japan
- Miang Besar Coal Terminal - Indonesia
- Mercator Lines Limited - India
- Singapore Mercantile Exchange
- Eastern Energy - Thailand
- Gujarat Sidhee Cement - India
- Banpu Public Company Limited - Thailand
- GN Power Mariveles Coal Plant, Philippines
- International Coal Ventures Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Eastern Coal Council - USA
- PowerSource Philippines DevCo
- Coastal Gujarat Power Limited - India
- GAC Shipping (India) Pvt Ltd
- Makarim & Taira - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Attock Cement Pakistan Limited
- PNOC Exploration Corporation - Philippines
- Krishnapatnam Port Company Ltd. - India
- Iligan Light & Power Inc, Philippines
- CIMB Investment Bank - Malaysia
- Australian Commodity Traders Exchange
- Siam City Cement - Thailand
- Maheswari Brothers Coal Limited - India
- Coal and Oil Company - UAE
- Uttam Galva Steels Limited - India
- Indian Oil Corporation Limited
- Kartika Selabumi Mining - Indonesia
- Romanian Commodities Exchange
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Wood Mackenzie - Singapore
- Orica Australia Pty. Ltd.
- McConnell Dowell - Australia
- TeaM Sual Corporation - Philippines
- Planning Commission, India
- Leighton Contractors Pty Ltd - Australia
- Australian Coal Association
- Ceylon Electricity Board - Sri Lanka
- Xindia Steels Limited - India
- Carbofer General Trading SA - India
- Coalindo Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Deloitte Consulting - India
- Aboitiz Power Corporation - Philippines
- Medco Energi Mining Internasional
- Georgia Ports Authority, United States
- Timah Investasi Mineral - Indoneisa
- Parry Sugars Refinery, India
- Tata Chemicals Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Anglo American - United Kingdom
- Price Waterhouse Coopers - Russia
- Parliament of New Zealand
- India Bulls Power Limited - India
- Aditya Birla Group - India
- Bhushan Steel Limited - India
- Independent Power Producers Association of India
- Metalloyd Limited - United Kingdom
- Bukit Asam (Persero) Tbk - Indonesia
- South Luzon Thermal Energy Corporation
- Wilmar Investment Holdings
- Sical Logistics Limited - India
- European Bulk Services B.V. - Netherlands
- Electricity Generating Authority of Thailand
- Edison Trading Spa - Italy
- Central Electricity Authority - India
- Electricity Authority, New Zealand
- Indo Tambangraya Megah - Indonesia
- Bangladesh Power Developement Board
- Heidelberg Cement - Germany
- Dalmia Cement Bharat India
- Ministry of Transport, Egypt
- Holcim Trading Pte Ltd - Singapore
- Energy Development Corp, Philippines
- Malabar Cements Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Tamil Nadu electricity Board
- Alfred C Toepfer International GmbH - Germany
- Gujarat Electricity Regulatory Commission - India
- Kalimantan Lumbung Energi - Indonesia
- Formosa Plastics Group - Taiwan
- Salva Resources Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Riau Bara Harum - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Posco Energy - South Korea
- Merrill Lynch Commodities Europe
- Altura Mining Limited, Indonesia
- Jaiprakash Power Ventures ltd
- SMC Global Power, Philippines
- Kohat Cement Company Ltd. - Pakistan
- San Jose City I Power Corp, Philippines
- Ind-Barath Power Infra Limited - India
- Borneo Indobara - Indonesia
- Siam City Cement PLC, Thailand
- Pendopo Energi Batubara - Indonesia
- MS Steel International - UAE
- Thiess Contractors Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Kobexindo Tractors - Indoneisa
- Chamber of Mines of South Africa
- SMG Consultants - Indonesia
- Kideco Jaya Agung - Indonesia
- Commonwealth Bank - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Economic Council, Georgia
- Agrawal Coal Company - India
- Oldendorff Carriers - Singapore
- Renaissance Capital - South Africa
- The State Trading Corporation of India Ltd
- Minerals Council of Australia
- Bhoruka Overseas - Indonesia
- Orica Mining Services - Indonesia
- Manunggal Multi Energi - Indonesia
- Indonesian Coal Mining Association
- Karaikal Port Pvt Ltd - India
- Bhatia International Limited - India
- Indian Energy Exchange, India
- SN Aboitiz Power Inc, Philippines
- Indika Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Central Java Power - Indonesia
- CNBM International Corporation - China
- Simpson Spence & Young - Indonesia
- Indogreen Group - Indonesia
- Billiton Holdings Pty Ltd - Australia
- VISA Power Limited - India
- Port Waratah Coal Services - Australia
- Global Business Power Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
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