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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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Wednesday, 18 July 12
SHIP PRICES HAVE FALLEN RAPIDLY THIS YEAR, FAVORING INVESTORS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The price for a 5 year old Capesize dry bulk carrier of 172,000 dwt has fallen to about $33,4mil from $42.9 at the end of June 2011, while at end of ...
Saturday, 14 July 12
FREIGHT MARKET SEEMS TO BE QUITE VOLATILE - VISTAAR
COALspot.com - The market seems to be quite volatile with the trend changing almost every week. This week all the segments were down except for Pana ...
Friday, 13 July 12
TRANSCOAL MINERGY HAS RECEIVED PMA STATUS IN INDONESIA
COALspot.com - PT Transcoal Minergy (“TCM”) has received official foreign owned company status from the Capital Investment Coordinating ...
Thursday, 12 July 12
LACK OF CAPESIZE DEMAND DRAGS DRY BULK MARKET LOWER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
A lack of demand for the larger Capesize dry bulk carriers had as a result the fall of the industry’s benchmark, the BDI (Baltic Dry Index), w ...
Thursday, 12 July 12
RIO TINTO'S SENIOR MANAGEMENT CHANGES
COALspot.com - Rio Tinto is making changes to its senior management team as chief financial officer (CFO) Guy Elliott has decided to retire at the e ...
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- Intertek Mineral Services - Indonesia
- Simpson Spence & Young - Indonesia
- Parry Sugars Refinery, India
- Krishnapatnam Port Company Ltd. - India
- Marubeni Corporation - India
- Kaltim Prima Coal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Therma Luzon, Inc, Philippines
- Sakthi Sugars Limited - India
- IEA Clean Coal Centre - UK
- Pendopo Energi Batubara - Indonesia
- Eastern Coal Council - USA
- South Luzon Thermal Energy Corporation
- Kobexindo Tractors - Indoneisa
- Bangladesh Power Developement Board
- Coal and Oil Company - UAE
- Georgia Ports Authority, United States
- Romanian Commodities Exchange
- Offshore Bulk Terminal Pte Ltd, Singapore
- Star Paper Mills Limited - India
- CNBM International Corporation - China
- Kartika Selabumi Mining - Indonesia
- Mercator Lines Limited - India
- Bayan Resources Tbk. - Indonesia
- Indian Oil Corporation Limited
- Kideco Jaya Agung - Indonesia
- SMG Consultants - Indonesia
- LBH Netherlands Bv - Netherlands
- OPG Power Generation Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Formosa Plastics Group - Taiwan
- Karbindo Abesyapradhi - Indoneisa
- Rio Tinto Coal - Australia
- VISA Power Limited - India
- Oldendorff Carriers - Singapore
- Metalloyd Limited - United Kingdom
- The University of Queensland
- Lanco Infratech Ltd - India
- Barasentosa Lestari - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Sree Jayajothi Cements Limited - India
- India Bulls Power Limited - India
- Orica Australia Pty. Ltd.
- Altura Mining Limited, Indonesia
- Meralco Power Generation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- San Jose City I Power Corp, Philippines
- Edison Trading Spa - Italy
- Mercuria Energy - Indonesia
- Thiess Contractors Indonesia
- Bhatia International Limited - India
- Tata Chemicals Ltd - India
- Bhoruka Overseas - Indonesia
- Manunggal Multi Energi - Indonesia
- Electricity Generating Authority of Thailand
- Indian Energy Exchange, India
- Banpu Public Company Limited - Thailand
- ASAPP Information Group - India
- Australian Coal Association
- Central Electricity Authority - India
- SMC Global Power, Philippines
- Madhucon Powers Ltd - India
- Malabar Cements Ltd - India
- Sindya Power Generating Company Private Ltd
- Parliament of New Zealand
- Bulk Trading Sa - Switzerland
- Sical Logistics Limited - India
- Trasteel International SA, Italy
- Cement Manufacturers Association - India
- GVK Power & Infra Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- PNOC Exploration Corporation - Philippines
- Binh Thuan Hamico - Vietnam
- Bukit Baiduri Energy - Indonesia
- Posco Energy - South Korea
- The Treasury - Australian Government
- Petron Corporation, Philippines
- Semirara Mining Corp, Philippines
- New Zealand Coal & Carbon
- Ministry of Finance - Indonesia
- Maheswari Brothers Coal Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Singapore Mercantile Exchange
- Baramulti Group, Indonesia
- Independent Power Producers Association of India
- White Energy Company Limited
- Billiton Holdings Pty Ltd - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Medco Energi Mining Internasional
- Aditya Birla Group - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Ministry of Transport, Egypt
- Indika Energy - Indonesia
- Riau Bara Harum - Indonesia
- Bukit Makmur.PT - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Global Green Power PLC Corporation, Philippines
- Goldman Sachs - Singapore
- Carbofer General Trading SA - India
- Chettinad Cement Corporation Ltd - India
- Antam Resourcindo - Indonesia
- Siam City Cement - Thailand
- Kapuas Tunggal Persada - Indonesia
- Bhushan Steel Limited - India
- Miang Besar Coal Terminal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- ICICI Bank Limited - India
- Jindal Steel & Power Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Port Waratah Coal Services - Australia
- Samtan Co., Ltd - South Korea
- Karaikal Port Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Dalmia Cement Bharat India
- Salva Resources Pvt Ltd - India
- Standard Chartered Bank - UAE
- International Coal Ventures Pvt Ltd - India
- Vedanta Resources Plc - India
- Sojitz Corporation - Japan
- Central Java Power - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kumho Petrochemical, South Korea
- Timah Investasi Mineral - Indoneisa
- Toyota Tsusho Corporation, Japan
- Bharathi Cement Corporation - India
- Uttam Galva Steels Limited - India
- Tamil Nadu electricity Board
- Grasim Industreis Ltd - India
- Commonwealth Bank - Australia
- Energy Development Corp, Philippines
- Rashtriya Ispat Nigam Limited - India
- Africa Commodities Group - South Africa
- Mjunction Services Limited - India
- AsiaOL BioFuels Corp., Philippines
- Maharashtra Electricity Regulatory Commission - India
- Ind-Barath Power Infra Limited - India
- Attock Cement Pakistan Limited
- Chamber of Mines of South Africa
- Price Waterhouse Coopers - Russia
- Cigading International Bulk Terminal - Indonesia
- Directorate Of Revenue Intelligence - India
- Bahari Cakrawala Sebuku - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Renaissance Capital - South Africa
- Heidelberg Cement - Germany
- Kepco SPC Power Corporation, Philippines
- Larsen & Toubro Limited - India
- IHS Mccloskey Coal Group - USA
- Siam City Cement PLC, Thailand
- Straits Asia Resources Limited - Singapore
- Australian Commodity Traders Exchange
- Wood Mackenzie - Singapore
- GAC Shipping (India) Pvt Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Power Finance Corporation Ltd., India
- Borneo Indobara - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Jaiprakash Power Ventures ltd
- Energy Link Ltd, New Zealand
- Gujarat Mineral Development Corp Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Gujarat Electricity Regulatory Commission - India
- Anglo American - United Kingdom
- Savvy Resources Ltd - HongKong
- Meenaskhi Energy Private Limited - India
- Ministry of Mines - Canada
- PowerSource Philippines DevCo
- Bukit Asam (Persero) Tbk - Indonesia
- Planning Commission, India
- Electricity Authority, New Zealand
- Sarangani Energy Corporation, Philippines
- Mintek Dendrill Indonesia
- Vizag Seaport Private Limited - India
- Orica Mining Services - Indonesia
- PTC India Limited - India
- Indonesian Coal Mining Association
- Thai Mozambique Logistica
- Merrill Lynch Commodities Europe
- The State Trading Corporation of India Ltd
- Interocean Group of Companies - India
- Deloitte Consulting - India
- Indo Tambangraya Megah - Indonesia
- London Commodity Brokers - England
- Eastern Energy - Thailand
- MS Steel International - UAE
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Aboitiz Power Corporation - Philippines
- Xindia Steels Limited - India
- European Bulk Services B.V. - Netherlands
- Essar Steel Hazira Ltd - India
- Makarim & Taira - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Gujarat Sidhee Cement - India
- Minerals Council of Australia
- SN Aboitiz Power Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- GMR Energy Limited - India
- Global Business Power Corporation, Philippines
- Ambuja Cements Ltd - India
- Latin American Coal - Colombia
- Coastal Gujarat Power Limited - India
- CIMB Investment Bank - Malaysia
- Coalindo Energy - Indonesia
- Economic Council, Georgia
- Videocon Industries ltd - India
- McConnell Dowell - Australia
- Kohat Cement Company Ltd. - Pakistan
- Agrawal Coal Company - India
- Indogreen Group - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Wilmar Investment Holdings
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