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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, 28 September 12
DRY BULK SECOND HAND VESSELS ON HIGH DEMAND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Despite the demise of the dry bulk market and the collapse of freight rates since the beginning of 2012, on the back of record breaking newbuilding ...
Thursday, 27 September 12
MINING RE-COMMENCES AT ORPHEUS' B2 EAST KALIMANTAN COAL PROJECT
- B2 project overburden removal completed and coal exposed
- Coal getting has commenced with target production of 30,000tpm
- Orpheus to re ...
Thursday, 27 September 12
HANDY: THE PACIFIC MARKET IS GETTING WEAKER WITH UPCOMING GOLDEN WEEK HOLIDAYS - FEARNLEYS AS
Handy
Yet another week with rates softening in all trades. Especially owners with ships open Continent struggle to find employment paying decent mo ...
Thursday, 27 September 12
DRY BULK MARKET LOSES STEAM - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The rise of the BDI (Baltic Dry Index), the dry bulk industry’s benchmark during the course of the previous week, proved to be short-lived, as ...
Wednesday, 26 September 12
NEWBUILDING ORDERING ACTIVITY REMAINS SUBDUED ON GLOBAL MARKET UNCERTAINTY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Newbuilding ordering activity has been on the down side during the past few weeks, a trend also noticeable during the course of the past few days, a ...
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- Directorate General of MIneral and Coal - Indonesia
- Malabar Cements Ltd - India
- Independent Power Producers Association of India
- Carbofer General Trading SA - India
- Trasteel International SA, Italy
- Iligan Light & Power Inc, Philippines
- Altura Mining Limited, Indonesia
- Videocon Industries ltd - India
- Global Green Power PLC Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Bhushan Steel Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Maharashtra Electricity Regulatory Commission - India
- Kepco SPC Power Corporation, Philippines
- Coalindo Energy - Indonesia
- Eastern Energy - Thailand
- Binh Thuan Hamico - Vietnam
- Neyveli Lignite Corporation Ltd, - India
- Indonesian Coal Mining Association
- Indo Tambangraya Megah - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Parry Sugars Refinery, India
- Bukit Baiduri Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Georgia Ports Authority, United States
- Antam Resourcindo - Indonesia
- Indika Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kideco Jaya Agung - Indonesia
- Xindia Steels Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Therma Luzon, Inc, Philippines
- Vedanta Resources Plc - India
- Savvy Resources Ltd - HongKong
- TeaM Sual Corporation - Philippines
- CNBM International Corporation - China
- Singapore Mercantile Exchange
- Larsen & Toubro Limited - India
- Petron Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Chamber of Mines of South Africa
- Indian Oil Corporation Limited
- Price Waterhouse Coopers - Russia
- Semirara Mining Corp, Philippines
- PNOC Exploration Corporation - Philippines
- Sojitz Corporation - Japan
- Rio Tinto Coal - Australia
- Medco Energi Mining Internasional
- Indogreen Group - Indonesia
- Manunggal Multi Energi - Indonesia
- Essar Steel Hazira Ltd - India
- Baramulti Group, Indonesia
- Power Finance Corporation Ltd., India
- Krishnapatnam Port Company Ltd. - India
- ICICI Bank Limited - India
- Uttam Galva Steels Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Vizag Seaport Private Limited - India
- Planning Commission, India
- Kalimantan Lumbung Energi - Indonesia
- Australian Commodity Traders Exchange
- Interocean Group of Companies - India
- Bahari Cakrawala Sebuku - Indonesia
- Maheswari Brothers Coal Limited - India
- Economic Council, Georgia
- Deloitte Consulting - India
- MS Steel International - UAE
- Central Electricity Authority - India
- The University of Queensland
- Globalindo Alam Lestari - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Siam City Cement PLC, Thailand
- Parliament of New Zealand
- Port Waratah Coal Services - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Africa Commodities Group - South Africa
- Oldendorff Carriers - Singapore
- Lanco Infratech Ltd - India
- Toyota Tsusho Corporation, Japan
- Agrawal Coal Company - India
- Mjunction Services Limited - India
- Ministry of Transport, Egypt
- Sakthi Sugars Limited - India
- Formosa Plastics Group - Taiwan
- Mercuria Energy - Indonesia
- The State Trading Corporation of India Ltd
- Star Paper Mills Limited - India
- Commonwealth Bank - Australia
- Kartika Selabumi Mining - Indonesia
- McConnell Dowell - Australia
- Siam City Cement - Thailand
- Timah Investasi Mineral - Indoneisa
- London Commodity Brokers - England
- Offshore Bulk Terminal Pte Ltd, Singapore
- GN Power Mariveles Coal Plant, Philippines
- Alfred C Toepfer International GmbH - Germany
- PowerSource Philippines DevCo
- Dalmia Cement Bharat India
- Global Business Power Corporation, Philippines
- New Zealand Coal & Carbon
- Australian Coal Association
- Gujarat Sidhee Cement - India
- South Luzon Thermal Energy Corporation
- Pipit Mutiara Jaya. PT, Indonesia
- Central Java Power - Indonesia
- Aditya Birla Group - India
- Goldman Sachs - Singapore
- Riau Bara Harum - Indonesia
- Meenaskhi Energy Private Limited - India
- Cement Manufacturers Association - India
- Simpson Spence & Young - Indonesia
- Meralco Power Generation, Philippines
- Thiess Contractors Indonesia
- Directorate Of Revenue Intelligence - India
- Jaiprakash Power Ventures ltd
- Madhucon Powers Ltd - India
- Posco Energy - South Korea
- Barasentosa Lestari - Indonesia
- White Energy Company Limited
- Wood Mackenzie - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- GVK Power & Infra Limited - India
- Edison Trading Spa - Italy
- India Bulls Power Limited - India
- Karaikal Port Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Bhoruka Overseas - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Merrill Lynch Commodities Europe
- Global Coal Blending Company Limited - Australia
- Wilmar Investment Holdings
- Heidelberg Cement - Germany
- TNB Fuel Sdn Bhd - Malaysia
- Sindya Power Generating Company Private Ltd
- AsiaOL BioFuels Corp., Philippines
- Rashtriya Ispat Nigam Limited - India
- Metalloyd Limited - United Kingdom
- Bulk Trading Sa - Switzerland
- Straits Asia Resources Limited - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Minerals Council of Australia
- VISA Power Limited - India
- Borneo Indobara - Indonesia
- Sarangani Energy Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Latin American Coal - Colombia
- Energy Development Corp, Philippines
- Banpu Public Company Limited - Thailand
- Bhatia International Limited - India
- Orica Mining Services - Indonesia
- Marubeni Corporation - India
- Attock Cement Pakistan Limited
- The Treasury - Australian Government
- PetroVietnam Power Coal Import and Supply Company
- Romanian Commodities Exchange
- Thai Mozambique Logistica
- Electricity Authority, New Zealand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- ASAPP Information Group - India
- Bayan Resources Tbk. - Indonesia
- SMG Consultants - Indonesia
- European Bulk Services B.V. - Netherlands
- Renaissance Capital - South Africa
- Billiton Holdings Pty Ltd - Australia
- Ambuja Cements Ltd - India
- Bukit Makmur.PT - Indonesia
- Jindal Steel & Power Ltd - India
- Orica Australia Pty. Ltd.
- Anglo American - United Kingdom
- Standard Chartered Bank - UAE
- Gujarat Mineral Development Corp Ltd - India
- Mercator Lines Limited - India
- Semirara Mining and Power Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- SMC Global Power, Philippines
- LBH Netherlands Bv - Netherlands
- Kumho Petrochemical, South Korea
- Coastal Gujarat Power Limited - India
- Pendopo Energi Batubara - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Salva Resources Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Tata Chemicals Ltd - India
- Grasim Industreis Ltd - India
- Bangladesh Power Developement Board
- Indian Energy Exchange, India
- Intertek Mineral Services - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Mintek Dendrill Indonesia
- Aboitiz Power Corporation - Philippines
- Sree Jayajothi Cements Limited - India
- Cigading International Bulk Terminal - Indonesia
- Energy Link Ltd, New Zealand
- Eastern Coal Council - USA
- Tamil Nadu electricity Board
- Miang Besar Coal Terminal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Sinarmas Energy and Mining - Indonesia
- CIMB Investment Bank - Malaysia
- Samtan Co., Ltd - South Korea
- IHS Mccloskey Coal Group - USA
- Coal and Oil Company - UAE
- PTC India Limited - India
- Bharathi Cement Corporation - India
- Sical Logistics Limited - India
- Ministry of Mines - Canada
- IEA Clean Coal Centre - UK
- Holcim Trading Pte Ltd - Singapore
- Kobexindo Tractors - Indoneisa
- GMR Energy Limited - India
- Ministry of Finance - Indonesia
- Makarim & Taira - Indonesia
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