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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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Tuesday, 22 May 12
NEW ONE-YEAR TIME CHARTERS FOR TWO VESSELS OF EXCEL MARITIME CARRIERS LTD.
Excel Maritime Carriers Ltd. (NYSE: EXM), an owner and operator of dry bulk carriers and an international provider of worldwide seaborne transportat ...
Tuesday, 22 May 12
DRY BULK MARKET STEADY, AWAITING FURTHER RISE IN DEMAND WHICH IS DOUBTFUL - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Traditionally, the second and third quarters of the year are the strongest for the dry bulk market, but this year, things seem to be quite subdued, ...
Sunday, 20 May 12
SPOT FREIGHT RATE DIPS FURTHER - VISTAAR
COALspot.com - The BDI was marginally up by 3 points (0.26 pct) closing at 1,141 points.
The cape index was up by 1.17 pct closing at 1,633 point ...
Saturday, 19 May 12
INDONESIAN SUB-BITUMINOUS COAL SWAPS DROP US$ 2.88 PMT W-O-W
COALspot.com - Indonesian sub-bituminous coal swaps and CFR South China coal contracts for June deliveries have drops this week by 3.86 percent and& ...
Saturday, 19 May 12
INDONESIAN EXPORT TAX GIVES COAL MINERS A CHEAP RIDE: ANALYSTS - THE JAKARTA GLOBE
The Jakarta Globe reported that, Indonesia’s policy to exclude coal from an export tax that has been applied to 14 other mineral commodities h ...
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- Alfred C Toepfer International GmbH - Germany
- Meenaskhi Energy Private Limited - India
- ASAPP Information Group - India
- Tata Chemicals Ltd - India
- Aboitiz Power Corporation - Philippines
- Sojitz Corporation - Japan
- VISA Power Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Rio Tinto Coal - Australia
- Gujarat Mineral Development Corp Ltd - India
- Deloitte Consulting - India
- Banpu Public Company Limited - Thailand
- ICICI Bank Limited - India
- Vedanta Resources Plc - India
- Parliament of New Zealand
- Directorate Of Revenue Intelligence - India
- Maheswari Brothers Coal Limited - India
- Coal and Oil Company - UAE
- Essar Steel Hazira Ltd - India
- Carbofer General Trading SA - India
- Baramulti Group, Indonesia
- White Energy Company Limited
- Kartika Selabumi Mining - Indonesia
- Semirara Mining Corp, Philippines
- Riau Bara Harum - Indonesia
- Antam Resourcindo - Indonesia
- Australian Coal Association
- Global Green Power PLC Corporation, Philippines
- Energy Development Corp, Philippines
- PTC India Limited - India
- Planning Commission, India
- Bukit Makmur.PT - Indonesia
- Trasteel International SA, Italy
- Central Java Power - Indonesia
- India Bulls Power Limited - India
- Miang Besar Coal Terminal - Indonesia
- Port Waratah Coal Services - Australia
- Sical Logistics Limited - India
- Coalindo Energy - Indonesia
- SMG Consultants - Indonesia
- Ministry of Mines - Canada
- Renaissance Capital - South Africa
- Asmin Koalindo Tuhup - Indonesia
- PowerSource Philippines DevCo
- Gujarat Sidhee Cement - India
- Metalloyd Limited - United Kingdom
- Leighton Contractors Pty Ltd - Australia
- Australian Commodity Traders Exchange
- IHS Mccloskey Coal Group - USA
- The University of Queensland
- Energy Link Ltd, New Zealand
- Jaiprakash Power Ventures ltd
- Cement Manufacturers Association - India
- Karaikal Port Pvt Ltd - India
- Makarim & Taira - Indonesia
- GMR Energy Limited - India
- CIMB Investment Bank - Malaysia
- Ministry of Transport, Egypt
- Altura Mining Limited, Indonesia
- Formosa Plastics Group - Taiwan
- MS Steel International - UAE
- Kumho Petrochemical, South Korea
- Videocon Industries ltd - India
- Coastal Gujarat Power Limited - India
- Global Coal Blending Company Limited - Australia
- GN Power Mariveles Coal Plant, Philippines
- Sindya Power Generating Company Private Ltd
- Jindal Steel & Power Ltd - India
- PNOC Exploration Corporation - Philippines
- Independent Power Producers Association of India
- Siam City Cement - Thailand
- Holcim Trading Pte Ltd - Singapore
- Wood Mackenzie - Singapore
- International Coal Ventures Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Bhoruka Overseas - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Posco Energy - South Korea
- TNB Fuel Sdn Bhd - Malaysia
- Merrill Lynch Commodities Europe
- Mintek Dendrill Indonesia
- Interocean Group of Companies - India
- SN Aboitiz Power Inc, Philippines
- Bangladesh Power Developement Board
- Ambuja Cements Ltd - India
- Globalindo Alam Lestari - Indonesia
- Attock Cement Pakistan Limited
- Savvy Resources Ltd - HongKong
- Anglo American - United Kingdom
- Gujarat Electricity Regulatory Commission - India
- Star Paper Mills Limited - India
- Bhushan Steel Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Parry Sugars Refinery, India
- Grasim Industreis Ltd - India
- Kideco Jaya Agung - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Larsen & Toubro Limited - India
- Vizag Seaport Private Limited - India
- Bharathi Cement Corporation - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Meralco Power Generation, Philippines
- Minerals Council of Australia
- Thiess Contractors Indonesia
- Borneo Indobara - Indonesia
- South Luzon Thermal Energy Corporation
- Aditya Birla Group - India
- Kaltim Prima Coal - Indonesia
- Lanco Infratech Ltd - India
- Wilmar Investment Holdings
- Intertek Mineral Services - Indonesia
- The State Trading Corporation of India Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Chettinad Cement Corporation Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Dalmia Cement Bharat India
- Commonwealth Bank - Australia
- European Bulk Services B.V. - Netherlands
- Indika Energy - Indonesia
- Siam City Cement PLC, Thailand
- Oldendorff Carriers - Singapore
- The Treasury - Australian Government
- Bulk Trading Sa - Switzerland
- Heidelberg Cement - Germany
- Barasentosa Lestari - Indonesia
- Sakthi Sugars Limited - India
- Krishnapatnam Port Company Ltd. - India
- Electricity Generating Authority of Thailand
- Eastern Energy - Thailand
- Mercator Lines Limited - India
- Sree Jayajothi Cements Limited - India
- Global Business Power Corporation, Philippines
- New Zealand Coal & Carbon
- Bayan Resources Tbk. - Indonesia
- Kobexindo Tractors - Indoneisa
- Billiton Holdings Pty Ltd - Australia
- Salva Resources Pvt Ltd - India
- Tamil Nadu electricity Board
- Iligan Light & Power Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Therma Luzon, Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Petron Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- LBH Netherlands Bv - Netherlands
- Standard Chartered Bank - UAE
- Straits Asia Resources Limited - Singapore
- Singapore Mercantile Exchange
- Eastern Coal Council - USA
- Medco Energi Mining Internasional
- Manunggal Multi Energi - Indonesia
- Uttam Galva Steels Limited - India
- Bhatia International Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kapuas Tunggal Persada - Indonesia
- IEA Clean Coal Centre - UK
- Timah Investasi Mineral - Indoneisa
- Orica Australia Pty. Ltd.
- McConnell Dowell - Australia
- Ceylon Electricity Board - Sri Lanka
- Cigading International Bulk Terminal - Indonesia
- Ind-Barath Power Infra Limited - India
- Samtan Co., Ltd - South Korea
- Romanian Commodities Exchange
- Ministry of Finance - Indonesia
- Agrawal Coal Company - India
- Indian Oil Corporation Limited
- Pendopo Energi Batubara - Indonesia
- Marubeni Corporation - India
- Petrochimia International Co. Ltd.- Taiwan
- Directorate General of MIneral and Coal - Indonesia
- Georgia Ports Authority, United States
- Maharashtra Electricity Regulatory Commission - India
- Orica Mining Services - Indonesia
- Edison Trading Spa - Italy
- Mercuria Energy - Indonesia
- Africa Commodities Group - South Africa
- Economic Council, Georgia
- Madhucon Powers Ltd - India
- Electricity Authority, New Zealand
- San Jose City I Power Corp, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Indogreen Group - Indonesia
- London Commodity Brokers - England
- GVK Power & Infra Limited - India
- Malabar Cements Ltd - India
- Mjunction Services Limited - India
- Indo Tambangraya Megah - Indonesia
- Indonesian Coal Mining Association
- Bukit Baiduri Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Price Waterhouse Coopers - Russia
- Simpson Spence & Young - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- SMC Global Power, Philippines
- Chamber of Mines of South Africa
- Latin American Coal - Colombia
- Kohat Cement Company Ltd. - Pakistan
- Karbindo Abesyapradhi - Indoneisa
- Goldman Sachs - Singapore
- Power Finance Corporation Ltd., India
- Binh Thuan Hamico - Vietnam
- Xindia Steels Limited - India
- Kepco SPC Power Corporation, Philippines
- Indian Energy Exchange, India
- CNBM International Corporation - China
- Toyota Tsusho Corporation, Japan
- Sarangani Energy Corporation, Philippines
- Central Electricity Authority - India
- Semirara Mining and Power Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Thai Mozambique Logistica
- PetroVietnam Power Coal Import and Supply Company
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