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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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Wednesday, 11 April 12
DRY BULK MARKET STILL SUBDUED, RECOVERY NOT YET SEEN - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market entered the new week after the past days of easter holidays in western countries in a subdued mood. The industry’s benchma ...
Monday, 09 April 12
WEEKLY DRY MARKET OVERVIEW - MARIA BERTZELETOU, HELLENIC SHIPPING
The first week of April ended with the Baltic Dry Index falling below 950 points, before Catholic Easter, and capesizes showing a modest upturn with ...
Sunday, 08 April 12
CHARTER RATES COULD CONTINUE TO BE SOFT NEXT WEEK - VISTAAR
COALspot.com - The BDI was almost at same levels closing slightly lower by 0.64 pct at 928 points.
The Cape index was up by 6.73 pct closing at ...
Friday, 06 April 12
INDONESIAN HBA FALL TO LOWEST LEVEL SINCE JANUARY 2011
COALspot.com - Indonesian HBA fall to lowest level since January 2011 this month. The monthly coal reference price for coal sales in April fal ...
Friday, 06 April 12
DRY BULK MARKET SWIFT TO HALT FALL ON RENEWED DEMAND FOR CAPESIZES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk managed to put a stop to the recent falls, which came as a result of a lacklustre demand for smaller vessel sizes. Although this trend ...
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- Bank of Tokyo Mitsubishi UFJ Ltd
- SMG Consultants - Indonesia
- Xindia Steels Limited - India
- GAC Shipping (India) Pvt Ltd
- Holcim Trading Pte Ltd - Singapore
- GMR Energy Limited - India
- Renaissance Capital - South Africa
- Karaikal Port Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Toyota Tsusho Corporation, Japan
- Chamber of Mines of South Africa
- McConnell Dowell - Australia
- Samtan Co., Ltd - South Korea
- IEA Clean Coal Centre - UK
- Bangladesh Power Developement Board
- Price Waterhouse Coopers - Russia
- IHS Mccloskey Coal Group - USA
- Grasim Industreis Ltd - India
- The State Trading Corporation of India Ltd
- Sindya Power Generating Company Private Ltd
- Australian Commodity Traders Exchange
- Simpson Spence & Young - Indonesia
- Metalloyd Limited - United Kingdom
- Baramulti Group, Indonesia
- Thai Mozambique Logistica
- Standard Chartered Bank - UAE
- Oldendorff Carriers - Singapore
- Malabar Cements Ltd - India
- Eastern Coal Council - USA
- Rio Tinto Coal - Australia
- Indian Oil Corporation Limited
- Kepco SPC Power Corporation, Philippines
- Gujarat Sidhee Cement - India
- Kobexindo Tractors - Indoneisa
- Mercuria Energy - Indonesia
- Dalmia Cement Bharat India
- Antam Resourcindo - Indonesia
- Bayan Resources Tbk. - Indonesia
- Indonesian Coal Mining Association
- Salva Resources Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Tata Chemicals Ltd - India
- Borneo Indobara - Indonesia
- Coal and Oil Company - UAE
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mjunction Services Limited - India
- Krishnapatnam Port Company Ltd. - India
- Therma Luzon, Inc, Philippines
- Georgia Ports Authority, United States
- Economic Council, Georgia
- Savvy Resources Ltd - HongKong
- Altura Mining Limited, Indonesia
- Manunggal Multi Energi - Indonesia
- Vedanta Resources Plc - India
- Meenaskhi Energy Private Limited - India
- South Luzon Thermal Energy Corporation
- Port Waratah Coal Services - Australia
- Asmin Koalindo Tuhup - Indonesia
- Singapore Mercantile Exchange
- Pipit Mutiara Jaya. PT, Indonesia
- Larsen & Toubro Limited - India
- Bukit Baiduri Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Global Coal Blending Company Limited - Australia
- Jindal Steel & Power Ltd - India
- Globalindo Alam Lestari - Indonesia
- Coastal Gujarat Power Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Indogreen Group - Indonesia
- Central Electricity Authority - India
- Maheswari Brothers Coal Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Kartika Selabumi Mining - Indonesia
- Timah Investasi Mineral - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- New Zealand Coal & Carbon
- Bahari Cakrawala Sebuku - Indonesia
- Kumho Petrochemical, South Korea
- Attock Cement Pakistan Limited
- Parry Sugars Refinery, India
- Energy Development Corp, Philippines
- Kapuas Tunggal Persada - Indonesia
- Central Java Power - Indonesia
- Merrill Lynch Commodities Europe
- Makarim & Taira - Indonesia
- Ministry of Finance - Indonesia
- PNOC Exploration Corporation - Philippines
- Parliament of New Zealand
- Australian Coal Association
- Sarangani Energy Corporation, Philippines
- Jaiprakash Power Ventures ltd
- GN Power Mariveles Coal Plant, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Coalindo Energy - Indonesia
- Ministry of Mines - Canada
- Mintek Dendrill Indonesia
- ASAPP Information Group - India
- Wood Mackenzie - Singapore
- Global Business Power Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Siam City Cement - Thailand
- AsiaOL BioFuels Corp., Philippines
- CNBM International Corporation - China
- Edison Trading Spa - Italy
- Sical Logistics Limited - India
- Agrawal Coal Company - India
- Mercator Lines Limited - India
- Videocon Industries ltd - India
- London Commodity Brokers - England
- Kideco Jaya Agung - Indonesia
- Bhushan Steel Limited - India
- Bulk Trading Sa - Switzerland
- Gujarat Electricity Regulatory Commission - India
- Anglo American - United Kingdom
- Straits Asia Resources Limited - Singapore
- Commonwealth Bank - Australia
- Lanco Infratech Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Banpu Public Company Limited - Thailand
- Sree Jayajothi Cements Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Miang Besar Coal Terminal - Indonesia
- European Bulk Services B.V. - Netherlands
- Ind-Barath Power Infra Limited - India
- Posco Energy - South Korea
- Petron Corporation, Philippines
- TeaM Sual Corporation - Philippines
- PTC India Limited - India
- Uttam Galva Steels Limited - India
- Sojitz Corporation - Japan
- Aboitiz Power Corporation - Philippines
- MS Steel International - UAE
- Directorate Of Revenue Intelligence - India
- Petrochimia International Co. Ltd.- Taiwan
- Semirara Mining Corp, Philippines
- Power Finance Corporation Ltd., India
- Romanian Commodities Exchange
- Energy Link Ltd, New Zealand
- Bukit Asam (Persero) Tbk - Indonesia
- Iligan Light & Power Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Bhatia International Limited - India
- Aditya Birla Group - India
- Ceylon Electricity Board - Sri Lanka
- Bukit Makmur.PT - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Trasteel International SA, Italy
- Orica Mining Services - Indonesia
- Independent Power Producers Association of India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GVK Power & Infra Limited - India
- India Bulls Power Limited - India
- Latin American Coal - Colombia
- Binh Thuan Hamico - Vietnam
- Thiess Contractors Indonesia
- SN Aboitiz Power Inc, Philippines
- PowerSource Philippines DevCo
- Formosa Plastics Group - Taiwan
- LBH Netherlands Bv - Netherlands
- Vizag Seaport Private Limited - India
- Eastern Energy - Thailand
- Indian Energy Exchange, India
- Alfred C Toepfer International GmbH - Germany
- Tamil Nadu electricity Board
- Star Paper Mills Limited - India
- Semirara Mining and Power Corporation, Philippines
- Wilmar Investment Holdings
- Barasentosa Lestari - Indonesia
- ICICI Bank Limited - India
- Orica Australia Pty. Ltd.
- Marubeni Corporation - India
- Carbofer General Trading SA - India
- Jorong Barutama Greston.PT - Indonesia
- Medco Energi Mining Internasional
- SMC Global Power, Philippines
- OPG Power Generation Pvt Ltd - India
- The Treasury - Australian Government
- Riau Bara Harum - Indonesia
- Heidelberg Cement - Germany
- Indo Tambangraya Megah - Indonesia
- Indika Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Cement Manufacturers Association - India
- San Jose City I Power Corp, Philippines
- Maharashtra Electricity Regulatory Commission - India
- The University of Queensland
- VISA Power Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Sakthi Sugars Limited - India
- Intertek Mineral Services - Indonesia
- Deloitte Consulting - India
- Essar Steel Hazira Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Billiton Holdings Pty Ltd - Australia
- Minerals Council of Australia
- Sinarmas Energy and Mining - Indonesia
- Meralco Power Generation, Philippines
- Pendopo Energi Batubara - Indonesia
- Madhucon Powers Ltd - India
- Africa Commodities Group - South Africa
- Ministry of Transport, Egypt
- Electricity Generating Authority of Thailand
- Planning Commission, India
- Vijayanagar Sugar Pvt Ltd - India
- Ambuja Cements Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Global Green Power PLC Corporation, Philippines
- Goldman Sachs - Singapore
- Rashtriya Ispat Nigam Limited - India
- Interocean Group of Companies - India
- White Energy Company Limited
- Leighton Contractors Pty Ltd - Australia
- Bharathi Cement Corporation - India
- Electricity Authority, New Zealand
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