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Thursday, 19 December 19
BANGLADESH'S NBR CUTS VAT ON COAL IMPORT FOR POWER PLANTS - THE DAILY STAR
The National Board of Revenue (NBR) reduced value added tax on the import of coal for power plants to 5 percent from present 15 percent for five years until June 2025 to allow electricity generation at lower costs, according to a notification issued on Tuesday.
The exemption is being offered at a time when three coal-fired power plants are being established in the public sector and one in Payara in the southern district of Patuakhali is likely to start producing around 660 megawatts of electricity next month.
Apart from this, four private sector coal-based power plants are in the process of being established, according to the minutes of a meeting between the NBR and Power Division in August this year.
A huge amount of coal would be required once these power plants go into operation.
The NBR said there were no customs and other duty for coal import.
After the VAT cut to 5 percent, a 5 percent advance tax and 5 percent advance income tax will still be applicable for private sector power plants.
Public sector power plants will need to pay only the 5 percent VAT to import coal, said an NBR official requesting anonymity.
As coal accounts for nearly 65 percent of the electricity production cost, a reduction in the VAT rate will bring down the cost of generation, said the meeting minutes.
Considering the issue, the NBR has decided to slash the VAT on coal import to help reduce the production cost, another NBR official had said earlier.
In its Tuesday’s notification, the tax administrator attached conditions for coal power plants to import coal.
Power producers will have to submit recommendation letters from Power Division to customs stations during release of coal.
Importers will also need to furnish a bill of entry, it said. A bill of entry is an account of goods entered at a customhouse, of imports and exports, detailing the merchant, quantity of goods, their type, and place of origin or destination.
The tax authority earlier provided duty benefit for the import of furnace oil, which is used in electricity generation, and liquefied natural gas.
The NBR in July 2013 offered a 15-year tax waiver for electricity generation with coal.
Companies that will sign contracts with the government by June 30, 2020 to establish coal power plants will receive the tax break on income from electricity generation, according to the notification issued at that time.
Source: The Daily Star
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Saturday, 07 December 19
SOUTH AFRICAN COAL PRICE SURGE, WHILE OTHERS LANGUISH, IS TROUBLING - REUTERS
Coal prices around the world are gently sliding as demand from top importers such as China, India and even Europe remains subdued amid a so far mil ...
Saturday, 07 December 19
SUPRAMAX: OVERALL, THE BALTIC SUPRAMAX INDEX REMAINED IN POSITIVE MODE, DESPITE SOME AREAS LACKING FRESH ACTIVITY - BALTIC BRIEFING
Capesize
This week the Capesize market maintained healthy earnings, as an end of year surge took the Capesize 5TC back up to $25,202 by mid-wee ...
Friday, 06 December 19
INDONESIA COAL BENCHMARK PRICE FOR DECEMBER INCREASES BY US 3 CENTS MOM
COALspot.com: The Ministry of Energy and Mineral Resources of the Republic of Indonesia has revised up the benchmark price of Indonesian thermal co ...
Thursday, 05 December 19
IMO 2020 IS ABOUT TO GET REAL - GAVIN THOMPSON
As I write this edition of the APAC Energy Buzz from my desk in Singapore I can see ships. Lots of ships. No surprise given that Singapore is among ...
Wednesday, 04 December 19
FITCH RATINGS: CASH FLOW GENERATION TO SLOW DOWN FOR INDONESIAN COAL MINERS
Fitch Ratings' negative outlook on the Indonesian coal-mining sector reflects our view of weaker cash flow generation on account of declining c ...
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- Intertek Mineral Services - Indonesia
- ICICI Bank Limited - India
- Coal and Oil Company - UAE
- Central Electricity Authority - India
- Sakthi Sugars Limited - India
- GVK Power & Infra Limited - India
- Riau Bara Harum - Indonesia
- Bulk Trading Sa - Switzerland
- Parliament of New Zealand
- Kaltim Prima Coal - Indonesia
- Parry Sugars Refinery, India
- Essar Steel Hazira Ltd - India
- Thiess Contractors Indonesia
- Oldendorff Carriers - Singapore
- CIMB Investment Bank - Malaysia
- Manunggal Multi Energi - Indonesia
- Bangladesh Power Developement Board
- LBH Netherlands Bv - Netherlands
- The University of Queensland
- South Luzon Thermal Energy Corporation
- Alfred C Toepfer International GmbH - Germany
- Economic Council, Georgia
- Maharashtra Electricity Regulatory Commission - India
- Indonesian Coal Mining Association
- Iligan Light & Power Inc, Philippines
- Borneo Indobara - Indonesia
- Merrill Lynch Commodities Europe
- Meenaskhi Energy Private Limited - India
- Aditya Birla Group - India
- Star Paper Mills Limited - India
- Heidelberg Cement - Germany
- TeaM Sual Corporation - Philippines
- Pendopo Energi Batubara - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Jaiprakash Power Ventures ltd
- Gujarat Sidhee Cement - India
- Tata Chemicals Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Videocon Industries ltd - India
- Simpson Spence & Young - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Ministry of Transport, Egypt
- Singapore Mercantile Exchange
- Carbofer General Trading SA - India
- Sindya Power Generating Company Private Ltd
- SMC Global Power, Philippines
- Electricity Authority, New Zealand
- Jorong Barutama Greston.PT - Indonesia
- PNOC Exploration Corporation - Philippines
- Port Waratah Coal Services - Australia
- Commonwealth Bank - Australia
- Planning Commission, India
- Wood Mackenzie - Singapore
- Therma Luzon, Inc, Philippines
- Edison Trading Spa - Italy
- Bharathi Cement Corporation - India
- Bukit Makmur.PT - Indonesia
- Indo Tambangraya Megah - Indonesia
- Binh Thuan Hamico - Vietnam
- Meralco Power Generation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Tamil Nadu electricity Board
- Vizag Seaport Private Limited - India
- Salva Resources Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Agrawal Coal Company - India
- Marubeni Corporation - India
- Interocean Group of Companies - India
- The State Trading Corporation of India Ltd
- Kapuas Tunggal Persada - Indonesia
- Deloitte Consulting - India
- Bhatia International Limited - India
- Global Coal Blending Company Limited - Australia
- OPG Power Generation Pvt Ltd - India
- Sical Logistics Limited - India
- Ind-Barath Power Infra Limited - India
- PowerSource Philippines DevCo
- Medco Energi Mining Internasional
- VISA Power Limited - India
- Georgia Ports Authority, United States
- Kepco SPC Power Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Energy Development Corp, Philippines
- International Coal Ventures Pvt Ltd - India
- Cement Manufacturers Association - India
- India Bulls Power Limited - India
- Indogreen Group - Indonesia
- Mjunction Services Limited - India
- Toyota Tsusho Corporation, Japan
- Holcim Trading Pte Ltd - Singapore
- Larsen & Toubro Limited - India
- Timah Investasi Mineral - Indoneisa
- New Zealand Coal & Carbon
- Orica Mining Services - Indonesia
- Coalindo Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- GAC Shipping (India) Pvt Ltd
- Anglo American - United Kingdom
- IHS Mccloskey Coal Group - USA
- Krishnapatnam Port Company Ltd. - India
- Kohat Cement Company Ltd. - Pakistan
- Offshore Bulk Terminal Pte Ltd, Singapore
- IEA Clean Coal Centre - UK
- Indian Energy Exchange, India
- GN Power Mariveles Coal Plant, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Thai Mozambique Logistica
- Independent Power Producers Association of India
- Global Green Power PLC Corporation, Philippines
- White Energy Company Limited
- Indian Oil Corporation Limited
- Bhushan Steel Limited - India
- Orica Australia Pty. Ltd.
- Kobexindo Tractors - Indoneisa
- Karaikal Port Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Price Waterhouse Coopers - Russia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Formosa Plastics Group - Taiwan
- Vijayanagar Sugar Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Xindia Steels Limited - India
- Malabar Cements Ltd - India
- MS Steel International - UAE
- Vedanta Resources Plc - India
- Maheswari Brothers Coal Limited - India
- Rio Tinto Coal - Australia
- Baramulti Group, Indonesia
- Directorate Of Revenue Intelligence - India
- Metalloyd Limited - United Kingdom
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- San Jose City I Power Corp, Philippines
- European Bulk Services B.V. - Netherlands
- ASAPP Information Group - India
- Eastern Energy - Thailand
- Gujarat Electricity Regulatory Commission - India
- Grasim Industreis Ltd - India
- Australian Commodity Traders Exchange
- Chamber of Mines of South Africa
- Mercuria Energy - Indonesia
- Romanian Commodities Exchange
- Barasentosa Lestari - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Energy Link Ltd, New Zealand
- SN Aboitiz Power Inc, Philippines
- Ambuja Cements Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Attock Cement Pakistan Limited
- Lanco Infratech Ltd - India
- Global Business Power Corporation, Philippines
- Semirara Mining Corp, Philippines
- Petron Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Mintek Dendrill Indonesia
- Trasteel International SA, Italy
- Aboitiz Power Corporation - Philippines
- GMR Energy Limited - India
- Minerals Council of Australia
- Sree Jayajothi Cements Limited - India
- The Treasury - Australian Government
- London Commodity Brokers - England
- Straits Asia Resources Limited - Singapore
- CNBM International Corporation - China
- Cigading International Bulk Terminal - Indonesia
- Central Java Power - Indonesia
- Ministry of Finance - Indonesia
- Savvy Resources Ltd - HongKong
- Wilmar Investment Holdings
- Siam City Cement PLC, Thailand
- Billiton Holdings Pty Ltd - Australia
- Miang Besar Coal Terminal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- PTC India Limited - India
- McConnell Dowell - Australia
- Uttam Galva Steels Limited - India
- Samtan Co., Ltd - South Korea
- Kideco Jaya Agung - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Dalmia Cement Bharat India
- Makarim & Taira - Indonesia
- Antam Resourcindo - Indonesia
- Power Finance Corporation Ltd., India
- Siam City Cement - Thailand
- PetroVietnam Power Coal Import and Supply Company
- Eastern Coal Council - USA
- Electricity Generating Authority of Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Madhucon Powers Ltd - India
- Posco Energy - South Korea
- Altura Mining Limited, Indonesia
- Banpu Public Company Limited - Thailand
- Asmin Koalindo Tuhup - Indonesia
- Renaissance Capital - South Africa
- Bhoruka Overseas - Indonesia
- SMG Consultants - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Jindal Steel & Power Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Mercator Lines Limited - India
- Africa Commodities Group - South Africa
- Sojitz Corporation - Japan
- Australian Coal Association
- Kumho Petrochemical, South Korea
- Neyveli Lignite Corporation Ltd, - India
- Goldman Sachs - Singapore
- Coastal Gujarat Power Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Latin American Coal - Colombia
- Gujarat Mineral Development Corp Ltd - India
- Bukit Baiduri Energy - Indonesia
- Ministry of Mines - Canada
- Indika Energy - Indonesia
- Standard Chartered Bank - UAE
- Kartika Selabumi Mining - Indonesia
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