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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, 30 November 19
PANAMAX: LEVELS IMPROVED IN THE PACIFIC MARKET TOO WITH $11,000 BEING CONCLUDED ON AN 81,000DWT SHIP FOR AN INDONESIA TO CHINA COAL TRIP - BALTIC BRIEFING
Capesize
The market has been well supported over the past week, led primarily by the Atlantic Basin. After bottoming last week, sentiment was s ...
Friday, 29 November 19
FITCHRATINGS MAINTAINS NEGATIVE 2020 OUTLOOK ON SHIPPING, AS TIGHTER SUPPLY HELPS, BUT SOFTER DEMAND DRAGS
Fitch’s Sector Outlook: Negative
We maintain a negative sector outlook for global shipping because of the forecast slowdown of ...
Friday, 29 November 19
INDONESIA PRODUCES 390 MLN TONNES OF COAL IN JAN-SEPT: MINISTER - REUTERS
Indonesia’s production of coal for the January-September period was 390 million tonnes, Energy and Mineral Resources Minister Arifin Tasrif s ...
Wednesday, 27 November 19
SHIPPING MARKET INSIGHT - INTERMODAL
As the end of the fourth quarter is approaching, one could say that the wet market has maintained the strong pace observed during the third qu ...
Tuesday, 26 November 19
PREPARATIONS INTENSIFY AS 1 JANUARY 2020 GLOBAL CUT IN SULPHUR IN SHIP'S FUEL OIL LOOMS: IMO
“IMO 2020” requirements for ships to cut sulphur oxide emissions enter into effect in just over one month’s time. This will signi ...
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- GVK Power & Infra Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Bukit Baiduri Energy - Indonesia
- Australian Commodity Traders Exchange
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Bhatia International Limited - India
- Cement Manufacturers Association - India
- Goldman Sachs - Singapore
- Essar Steel Hazira Ltd - India
- Romanian Commodities Exchange
- PowerSource Philippines DevCo
- Kalimantan Lumbung Energi - Indonesia
- Mintek Dendrill Indonesia
- Ambuja Cements Ltd - India
- Parry Sugars Refinery, India
- Globalindo Alam Lestari - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Uttam Galva Steels Limited - India
- South Luzon Thermal Energy Corporation
- Gujarat Electricity Regulatory Commission - India
- Coastal Gujarat Power Limited - India
- Economic Council, Georgia
- Aditya Birla Group - India
- Larsen & Toubro Limited - India
- Indogreen Group - Indonesia
- Price Waterhouse Coopers - Russia
- IHS Mccloskey Coal Group - USA
- IEA Clean Coal Centre - UK
- Bhoruka Overseas - Indonesia
- Billiton Holdings Pty Ltd - Australia
- PetroVietnam Power Coal Import and Supply Company
- Kobexindo Tractors - Indoneisa
- Posco Energy - South Korea
- Sical Logistics Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- The State Trading Corporation of India Ltd
- Malabar Cements Ltd - India
- Jaiprakash Power Ventures ltd
- Attock Cement Pakistan Limited
- Therma Luzon, Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Ind-Barath Power Infra Limited - India
- Gujarat Sidhee Cement - India
- Orica Mining Services - Indonesia
- OPG Power Generation Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- London Commodity Brokers - England
- Energy Development Corp, Philippines
- Power Finance Corporation Ltd., India
- Vizag Seaport Private Limited - India
- Videocon Industries ltd - India
- Ceylon Electricity Board - Sri Lanka
- Kapuas Tunggal Persada - Indonesia
- Holcim Trading Pte Ltd - Singapore
- New Zealand Coal & Carbon
- Tata Chemicals Ltd - India
- Indika Energy - Indonesia
- Rio Tinto Coal - Australia
- Samtan Co., Ltd - South Korea
- Indian Energy Exchange, India
- Baramulti Group, Indonesia
- Formosa Plastics Group - Taiwan
- Meenaskhi Energy Private Limited - India
- Sakthi Sugars Limited - India
- Antam Resourcindo - Indonesia
- Interocean Group of Companies - India
- Bharathi Cement Corporation - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- McConnell Dowell - Australia
- Semirara Mining Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Carbofer General Trading SA - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Australian Coal Association
- Simpson Spence & Young - Indonesia
- ASAPP Information Group - India
- Binh Thuan Hamico - Vietnam
- Central Electricity Authority - India
- Metalloyd Limited - United Kingdom
- Global Green Power PLC Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Kartika Selabumi Mining - Indonesia
- Africa Commodities Group - South Africa
- Sindya Power Generating Company Private Ltd
- GN Power Mariveles Coal Plant, Philippines
- The University of Queensland
- Eastern Energy - Thailand
- Mjunction Services Limited - India
- GMR Energy Limited - India
- Wilmar Investment Holdings
- SMG Consultants - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Latin American Coal - Colombia
- Parliament of New Zealand
- Maheswari Brothers Coal Limited - India
- Independent Power Producers Association of India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Minerals Council of Australia
- LBH Netherlands Bv - Netherlands
- Salva Resources Pvt Ltd - India
- Heidelberg Cement - Germany
- CIMB Investment Bank - Malaysia
- Kideco Jaya Agung - Indonesia
- Bukit Makmur.PT - Indonesia
- Kaltim Prima Coal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Borneo Indobara - Indonesia
- Global Coal Blending Company Limited - Australia
- Kohat Cement Company Ltd. - Pakistan
- Vedanta Resources Plc - India
- Xindia Steels Limited - India
- European Bulk Services B.V. - Netherlands
- Singapore Mercantile Exchange
- Global Business Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- PNOC Exploration Corporation - Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Port Waratah Coal Services - Australia
- Standard Chartered Bank - UAE
- Ministry of Mines - Canada
- Semirara Mining and Power Corporation, Philippines
- Bhushan Steel Limited - India
- Marubeni Corporation - India
- India Bulls Power Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Siam City Cement PLC, Thailand
- Dalmia Cement Bharat India
- Asmin Koalindo Tuhup - Indonesia
- Planning Commission, India
- Karbindo Abesyapradhi - Indoneisa
- Indian Oil Corporation Limited
- Timah Investasi Mineral - Indoneisa
- CNBM International Corporation - China
- TNB Fuel Sdn Bhd - Malaysia
- Grasim Industreis Ltd - India
- Merrill Lynch Commodities Europe
- Alfred C Toepfer International GmbH - Germany
- Ministry of Finance - Indonesia
- Agrawal Coal Company - India
- Intertek Mineral Services - Indonesia
- Mercator Lines Limited - India
- Ministry of Transport, Egypt
- Petron Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Coal and Oil Company - UAE
- Directorate Of Revenue Intelligence - India
- International Coal Ventures Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Lanco Infratech Ltd - India
- MS Steel International - UAE
- Oldendorff Carriers - Singapore
- Commonwealth Bank - Australia
- Savvy Resources Ltd - HongKong
- Eastern Coal Council - USA
- Straits Asia Resources Limited - Singapore
- Indonesian Coal Mining Association
- Madhucon Powers Ltd - India
- Barasentosa Lestari - Indonesia
- The Treasury - Australian Government
- Aboitiz Power Corporation - Philippines
- Anglo American - United Kingdom
- Georgia Ports Authority, United States
- Maharashtra Electricity Regulatory Commission - India
- Siam City Cement - Thailand
- Kumho Petrochemical, South Korea
- Meralco Power Generation, Philippines
- Wood Mackenzie - Singapore
- Toyota Tsusho Corporation, Japan
- Medco Energi Mining Internasional
- Chettinad Cement Corporation Ltd - India
- Riau Bara Harum - Indonesia
- VISA Power Limited - India
- Thiess Contractors Indonesia
- Thai Mozambique Logistica
- Edison Trading Spa - Italy
- Pendopo Energi Batubara - Indonesia
- White Energy Company Limited
- Chamber of Mines of South Africa
- Energy Link Ltd, New Zealand
- Central Java Power - Indonesia
- ICICI Bank Limited - India
- Krishnapatnam Port Company Ltd. - India
- Electricity Authority, New Zealand
- Star Paper Mills Limited - India
- Karaikal Port Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Makarim & Taira - Indonesia
- Kepco SPC Power Corporation, Philippines
- Trasteel International SA, Italy
- Deloitte Consulting - India
- SN Aboitiz Power Inc, Philippines
- Banpu Public Company Limited - Thailand
- Renaissance Capital - South Africa
- Tamil Nadu electricity Board
- Coalindo Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Leighton Contractors Pty Ltd - Australia
- San Jose City I Power Corp, Philippines
- Mercuria Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Neyveli Lignite Corporation Ltd, - India
- SMC Global Power, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sojitz Corporation - Japan
- Vijayanagar Sugar Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Orica Australia Pty. Ltd.
- Bangladesh Power Developement Board
- Electricity Generating Authority of Thailand
- Sree Jayajothi Cements Limited - India
- Manunggal Multi Energi - Indonesia
- PTC India Limited - India
- Rashtriya Ispat Nigam Limited - India
- Indo Tambangraya Megah - Indonesia
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