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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 has been criticized by analysts, with lobbyists being blamed for the decision.
Since May 6, shipments of 14 minerals have been hit with a 20 percent export tax as part of the government’s plan to pressure mineral companies to process ore in Indonesia.
The commodities impacted are gold, copper, silver, tin, chromium, lead, molybdenum, bauxite, platinum, iron ore, nickel, iron sand, antimony and manganese.
Komaidi Notonegoro, a mining expert from the ReforMiner Institute, a research company for mining, energy and the environment, said he believed shareholders in big coal miners were influencing the government’s policy to “delay” applying an export tax to coal.
Pri Agung Rakhmanto, executive director of ReforMiner Institute, agreed with his colleague. He said the government’s claim that coal miners were subject to binding contracts that could not be broken did not hold water, because other miners had to abide by the same contracts.
Coal sales are also not normally bound by long-term contracts as the commodity can be easily found on spot markets.
“So the question is what’s behind this policy? Coal was supposed to be the first commodity to be subjected to the export tax. Why is the government being selective?” Pri Agung said.
ReforMiner data showed the export value of coal, which averages about $25 billion to $30 billion a year, is triple the value of the 14 mineral commodities combined, at around $8 billion to $10 billion a year.
Edi Prasodjo, director of coal at the Energy and Mineral Resources Ministry, said the government was still studying “the appropriate policy” for coal.
However, he said the government had other concerns about the coal industry. Coal production, he said, is expected to increase to around 450 million tons in 2013, which is way too much. Indonesia’s 2011 production was 330 million tons.
The government plans to limit production, but he did not explain the reasoning. East Kalimantan Governor Awang Farouk Ishak requested last Sunday that the government limit coal production from the province to help reduce environmental damage from the massive exploitation of the commodity.
Supriatna Suhala, the Jakarta-based executive director of the Indonesian Coal Mining Association, said levying an export tax on coal would be unfair, because coal miners already paid high corporation and royalties tax.
“If all contracts must be charged an export tax, then the holders of the first-generation contract will be strangled,” he said. “They cannot live anymore and may have to bring this to international arbitration.”
Ray Gunara, president director of Harum Energy, said a 20 percent export tax on coal would be a burden.
“Fuel prices are not declining, so we are not seeing costs decreasing,” he said.
Source:Investor Daily, JG Retno Ayuningtyas & Ester Nuky
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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& ...
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 ...
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- Aditya Birla Group - India
- CIMB Investment Bank - Malaysia
- Semirara Mining Corp, Philippines
- PTC India Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- GAC Shipping (India) Pvt Ltd
- New Zealand Coal & Carbon
- Energy Link Ltd, New Zealand
- Videocon Industries ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Interocean Group of Companies - India
- Coastal Gujarat Power Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Siam City Cement PLC, Thailand
- Directorate General of MIneral and Coal - Indonesia
- Metalloyd Limited - United Kingdom
- Salva Resources Pvt Ltd - India
- Mercator Lines Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Larsen & Toubro Limited - India
- Sindya Power Generating Company Private Ltd
- Pendopo Energi Batubara - Indonesia
- Indogreen Group - Indonesia
- Altura Mining Limited, Indonesia
- Orica Mining Services - Indonesia
- Chamber of Mines of South Africa
- San Jose City I Power Corp, Philippines
- Australian Coal Association
- Borneo Indobara - Indonesia
- Banpu Public Company Limited - Thailand
- Xindia Steels Limited - India
- Sree Jayajothi Cements Limited - India
- Kideco Jaya Agung - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Iligan Light & Power Inc, Philippines
- Parliament of New Zealand
- Kartika Selabumi Mining - Indonesia
- Timah Investasi Mineral - Indoneisa
- Carbofer General Trading SA - India
- CNBM International Corporation - China
- Renaissance Capital - South Africa
- Manunggal Multi Energi - Indonesia
- Edison Trading Spa - Italy
- Tamil Nadu electricity Board
- Karaikal Port Pvt Ltd - India
- SMC Global Power, Philippines
- Jindal Steel & Power Ltd - India
- Global Coal Blending Company Limited - Australia
- Directorate Of Revenue Intelligence - India
- Cigading International Bulk Terminal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Star Paper Mills Limited - India
- Deloitte Consulting - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Romanian Commodities Exchange
- Petron Corporation, Philippines
- Coal and Oil Company - UAE
- Riau Bara Harum - Indonesia
- Wilmar Investment Holdings
- Savvy Resources Ltd - HongKong
- Kalimantan Lumbung Energi - Indonesia
- Cement Manufacturers Association - India
- TeaM Sual Corporation - Philippines
- IEA Clean Coal Centre - UK
- Bukit Baiduri Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Essar Steel Hazira Ltd - India
- Simpson Spence & Young - Indonesia
- Jaiprakash Power Ventures ltd
- Planning Commission, India
- OPG Power Generation Pvt Ltd - India
- Thai Mozambique Logistica
- Power Finance Corporation Ltd., India
- Bhushan Steel Limited - India
- Bharathi Cement Corporation - India
- Energy Development Corp, Philippines
- Ministry of Transport, Egypt
- Petrochimia International Co. Ltd.- Taiwan
- Indian Oil Corporation Limited
- Rashtriya Ispat Nigam Limited - India
- PowerSource Philippines DevCo
- Economic Council, Georgia
- Chettinad Cement Corporation Ltd - India
- Bhoruka Overseas - Indonesia
- Mjunction Services Limited - India
- Latin American Coal - Colombia
- Meralco Power Generation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Sinarmas Energy and Mining - Indonesia
- Coalindo Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Electricity Generating Authority of Thailand
- Gujarat Electricity Regulatory Commission - India
- India Bulls Power Limited - India
- Central Java Power - Indonesia
- Posco Energy - South Korea
- GVK Power & Infra Limited - India
- Ministry of Finance - Indonesia
- Merrill Lynch Commodities Europe
- Toyota Tsusho Corporation, Japan
- Dalmia Cement Bharat India
- Maheswari Brothers Coal Limited - India
- Siam City Cement - Thailand
- Meenaskhi Energy Private Limited - India
- Central Electricity Authority - India
- Wood Mackenzie - Singapore
- Holcim Trading Pte Ltd - Singapore
- Port Waratah Coal Services - Australia
- VISA Power Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Indonesian Coal Mining Association
- Gujarat Mineral Development Corp Ltd - India
- The State Trading Corporation of India Ltd
- Commonwealth Bank - Australia
- SMG Consultants - Indonesia
- Eastern Energy - Thailand
- Heidelberg Cement - Germany
- Sakthi Sugars Limited - India
- Sarangani Energy Corporation, Philippines
- Trasteel International SA, Italy
- Tata Chemicals Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Madhucon Powers Ltd - India
- Grasim Industreis Ltd - India
- LBH Netherlands Bv - Netherlands
- McConnell Dowell - Australia
- The University of Queensland
- Bank of Tokyo Mitsubishi UFJ Ltd
- SN Aboitiz Power Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Kohat Cement Company Ltd. - Pakistan
- The Treasury - Australian Government
- Australian Commodity Traders Exchange
- TNB Fuel Sdn Bhd - Malaysia
- Alfred C Toepfer International GmbH - Germany
- European Bulk Services B.V. - Netherlands
- MS Steel International - UAE
- Orica Australia Pty. Ltd.
- Anglo American - United Kingdom
- Globalindo Alam Lestari - Indonesia
- Vizag Seaport Private Limited - India
- ICICI Bank Limited - India
- Indian Energy Exchange, India
- Leighton Contractors Pty Ltd - Australia
- Singapore Mercantile Exchange
- GN Power Mariveles Coal Plant, Philippines
- Sojitz Corporation - Japan
- Straits Asia Resources Limited - Singapore
- Attock Cement Pakistan Limited
- South Luzon Thermal Energy Corporation
- London Commodity Brokers - England
- Global Green Power PLC Corporation, Philippines
- Uttam Galva Steels Limited - India
- Kepco SPC Power Corporation, Philippines
- Oldendorff Carriers - Singapore
- Global Business Power Corporation, Philippines
- Africa Commodities Group - South Africa
- Marubeni Corporation - India
- IHS Mccloskey Coal Group - USA
- Sical Logistics Limited - India
- GMR Energy Limited - India
- Thiess Contractors Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Bayan Resources Tbk. - Indonesia
- Indo Tambangraya Megah - Indonesia
- Baramulti Group, Indonesia
- Mintek Dendrill Indonesia
- ASAPP Information Group - India
- Electricity Authority, New Zealand
- Goldman Sachs - Singapore
- Minerals Council of Australia
- Agrawal Coal Company - India
- Malabar Cements Ltd - India
- Ambuja Cements Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Antam Resourcindo - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Bangladesh Power Developement Board
- Kobexindo Tractors - Indoneisa
- Vedanta Resources Plc - India
- White Energy Company Limited
- Makarim & Taira - Indonesia
- Aboitiz Power Corporation - Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Barasentosa Lestari - Indonesia
- Medco Energi Mining Internasional
- Rio Tinto Coal - Australia
- Binh Thuan Hamico - Vietnam
- Eastern Coal Council - USA
- Intertek Mineral Services - Indonesia
- Standard Chartered Bank - UAE
- Parry Sugars Refinery, India
- Maharashtra Electricity Regulatory Commission - India
- Ministry of Mines - Canada
- Ceylon Electricity Board - Sri Lanka
- Kaltim Prima Coal - Indonesia
- Samtan Co., Ltd - South Korea
- Bhatia International Limited - India
- Krishnapatnam Port Company Ltd. - India
- Price Waterhouse Coopers - Russia
- Independent Power Producers Association of India
- Kumho Petrochemical, South Korea
- Semirara Mining and Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Formosa Plastics Group - Taiwan
- Bukit Makmur.PT - Indonesia
- Ind-Barath Power Infra Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Mercuria Energy - Indonesia
- Therma Luzon, Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Indika Energy - Indonesia
- Gujarat Sidhee Cement - India
- Georgia Ports Authority, United States
- Asmin Koalindo Tuhup - Indonesia
- Lanco Infratech Ltd - India
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