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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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Thursday, 22 March 12
DRY BULK MARKET KEEPS SURGING, CAPESIZES FALLING - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
In what seems to be an establishing pattern, the dry bulk market has kept its upward momentum, edging closer to the 900 point-mark, but the larger s ...
Wednesday, 21 March 12
BUMA HAS PRODUCED 2.3 MILLION TONS OF COAL IN FEBRUARY 2012
COALspot.com - PT. Delta Dunia Makmur's overburden removal in February 2012 has reached totaled 23.8 million bcm (+2.4% YoY) while coal production ...
Tuesday, 20 March 12
SMALLER DRY BULK VESSELS STILL LEADING DRY BULK MARKET TO HIGHER GROUND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has been growing during the past couple of weeks, but contrary to the usual practice, it’s not the larger Capesizes which ...
Monday, 19 March 12
WEEKLY DRY MARKET OVERVIEW: SMALLER VESSELS LEAD RATES HIGHER - MARIA BERTZELETOU, HELLENIC SHIPPING
The upward trend of the Baltic Dry Index persists strong from the end of February, spurred from the supramax market that offsets the weakness in the ...
Sunday, 18 March 12
BUKIT ASAM'S NET PROFIT IN 2011 ROSE 54% TO US$ 339.56 MILLION
COALspot.com - Company revenue for the period January - December 2011 amounting to Rp 10.6 trillion (approximately US$ 1,164,835,164.84) recorded an ...
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- Interocean Group of Companies - India
- Aboitiz Power Corporation - Philippines
- Gujarat Electricity Regulatory Commission - India
- Mjunction Services Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- San Jose City I Power Corp, Philippines
- Global Business Power Corporation, Philippines
- Baramulti Group, Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PNOC Exploration Corporation - Philippines
- IHS Mccloskey Coal Group - USA
- Metalloyd Limited - United Kingdom
- ASAPP Information Group - India
- GMR Energy Limited - India
- Borneo Indobara - Indonesia
- Kepco SPC Power Corporation, Philippines
- Africa Commodities Group - South Africa
- Mintek Dendrill Indonesia
- Bulk Trading Sa - Switzerland
- Sojitz Corporation - Japan
- Maheswari Brothers Coal Limited - India
- Electricity Authority, New Zealand
- Holcim Trading Pte Ltd - Singapore
- OPG Power Generation Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- The Treasury - Australian Government
- India Bulls Power Limited - India
- Binh Thuan Hamico - Vietnam
- Antam Resourcindo - Indonesia
- Sarangani Energy Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Savvy Resources Ltd - HongKong
- Singapore Mercantile Exchange
- Semirara Mining Corp, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- PetroVietnam Power Coal Import and Supply Company
- Straits Asia Resources Limited - Singapore
- Wood Mackenzie - Singapore
- Sree Jayajothi Cements Limited - India
- Central Electricity Authority - India
- Indo Tambangraya Megah - Indonesia
- Samtan Co., Ltd - South Korea
- Coalindo Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Vizag Seaport Private Limited - India
- Anglo American - United Kingdom
- Australian Commodity Traders Exchange
- Ambuja Cements Ltd - India
- Petron Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Mercator Lines Limited - India
- TeaM Sual Corporation - Philippines
- Miang Besar Coal Terminal - Indonesia
- Trasteel International SA, Italy
- Bahari Cakrawala Sebuku - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Agrawal Coal Company - India
- Australian Coal Association
- Tata Chemicals Ltd - India
- Chettinad Cement Corporation Ltd - India
- Attock Cement Pakistan Limited
- Kumho Petrochemical, South Korea
- Mercuria Energy - Indonesia
- Altura Mining Limited, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Thiess Contractors Indonesia
- Semirara Mining and Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Toyota Tsusho Corporation, Japan
- Videocon Industries ltd - India
- Goldman Sachs - Singapore
- Formosa Plastics Group - Taiwan
- Therma Luzon, Inc, Philippines
- Thai Mozambique Logistica
- Vedanta Resources Plc - India
- Kideco Jaya Agung - Indonesia
- Sical Logistics Limited - India
- Jindal Steel & Power Ltd - India
- CIMB Investment Bank - Malaysia
- Jorong Barutama Greston.PT - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Commonwealth Bank - Australia
- Bhatia International Limited - India
- Gujarat Mineral Development Corp Ltd - India
- ICICI Bank Limited - India
- The University of Queensland
- The State Trading Corporation of India Ltd
- Kohat Cement Company Ltd. - Pakistan
- Iligan Light & Power Inc, Philippines
- CNBM International Corporation - China
- Bangladesh Power Developement Board
- London Commodity Brokers - England
- Siam City Cement PLC, Thailand
- Alfred C Toepfer International GmbH - Germany
- Indika Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Kobexindo Tractors - Indoneisa
- Karbindo Abesyapradhi - Indoneisa
- European Bulk Services B.V. - Netherlands
- GVK Power & Infra Limited - India
- Electricity Generating Authority of Thailand
- Malabar Cements Ltd - India
- Deloitte Consulting - India
- Uttam Galva Steels Limited - India
- Indonesian Coal Mining Association
- Eastern Energy - Thailand
- Simpson Spence & Young - Indonesia
- SMG Consultants - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Coastal Gujarat Power Limited - India
- Makarim & Taira - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Barasentosa Lestari - Indonesia
- Global Green Power PLC Corporation, Philippines
- Independent Power Producers Association of India
- Heidelberg Cement - Germany
- Bharathi Cement Corporation - India
- Madhucon Powers Ltd - India
- Lanco Infratech Ltd - India
- Tamil Nadu electricity Board
- Chamber of Mines of South Africa
- Essar Steel Hazira Ltd - India
- Parliament of New Zealand
- PowerSource Philippines DevCo
- New Zealand Coal & Carbon
- Global Coal Blending Company Limited - Australia
- White Energy Company Limited
- Dalmia Cement Bharat India
- PTC India Limited - India
- South Luzon Thermal Energy Corporation
- Minerals Council of Australia
- Energy Link Ltd, New Zealand
- VISA Power Limited - India
- Carbofer General Trading SA - India
- Medco Energi Mining Internasional
- Wilmar Investment Holdings
- Orica Australia Pty. Ltd.
- Marubeni Corporation - India
- Meenaskhi Energy Private Limited - India
- Banpu Public Company Limited - Thailand
- Orica Mining Services - Indonesia
- Aditya Birla Group - India
- Power Finance Corporation Ltd., India
- Grasim Industreis Ltd - India
- Energy Development Corp, Philippines
- Salva Resources Pvt Ltd - India
- Planning Commission, India
- Meralco Power Generation, Philippines
- Star Paper Mills Limited - India
- Sakthi Sugars Limited - India
- Larsen & Toubro Limited - India
- Parry Sugars Refinery, India
- Billiton Holdings Pty Ltd - Australia
- Rio Tinto Coal - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Indogreen Group - Indonesia
- Pendopo Energi Batubara - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- International Coal Ventures Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- SMC Global Power, Philippines
- Latin American Coal - Colombia
- Ministry of Finance - Indonesia
- Romanian Commodities Exchange
- Rashtriya Ispat Nigam Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Bayan Resources Tbk. - Indonesia
- Siam City Cement - Thailand
- Standard Chartered Bank - UAE
- GAC Shipping (India) Pvt Ltd
- Karaikal Port Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- McConnell Dowell - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Port Waratah Coal Services - Australia
- Krishnapatnam Port Company Ltd. - India
- LBH Netherlands Bv - Netherlands
- Georgia Ports Authority, United States
- Kapuas Tunggal Persada - Indonesia
- Merrill Lynch Commodities Europe
- Ind-Barath Power Infra Limited - India
- Globalindo Alam Lestari - Indonesia
- Coal and Oil Company - UAE
- Manunggal Multi Energi - Indonesia
- Riau Bara Harum - Indonesia
- Renaissance Capital - South Africa
- Posco Energy - South Korea
- Economic Council, Georgia
- Jaiprakash Power Ventures ltd
- Edison Trading Spa - Italy
- Directorate Of Revenue Intelligence - India
- IEA Clean Coal Centre - UK
- Sinarmas Energy and Mining - Indonesia
- Bukit Makmur.PT - Indonesia
- Bukit Baiduri Energy - Indonesia
- Eastern Coal Council - USA
- Ceylon Electricity Board - Sri Lanka
- Bhushan Steel Limited - India
- MS Steel International - UAE
- Sindya Power Generating Company Private Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- SN Aboitiz Power Inc, Philippines
- Gujarat Sidhee Cement - India
- Ministry of Mines - Canada
- Cement Manufacturers Association - India
- Indian Energy Exchange, India
- Ministry of Transport, Egypt
- Central Java Power - Indonesia
- Indian Oil Corporation Limited
- Xindia Steels Limited - India
- Kartika Selabumi Mining - Indonesia
- Oldendorff Carriers - Singapore
- Leighton Contractors Pty Ltd - Australia
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