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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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Wednesday, 20 November 19
AUSTRALIA'S NEW HOPE POSTS 66% SURGE IN Q1 SALEABLE COAL OUTPUT - REUTERS
Australian coal producer New Hope Corp Ltd reported on Tuesday a 66% jump in saleable coal production in the first quarter, as output ramped up at ...
Wednesday, 20 November 19
THE IMO AND THE PRICE OF GAS OR THE IMPACT OF THE INTERNATIONAL MARITIME ORGANISATION'S SULPHUR 2020 LIMIT FOR MARINE FUEL OIL ON THE PRICE OF GAS - KING & SPALDING
The main bunker fuel for ships is High Sulphur Fuel Oil (HSFO, with sulphur up to 3.5% m/m (mass by mass)). This will all change on 1 January 2020 ...
Wednesday, 20 November 19
SHIPPING MARKET INSIGHT - INTERMODAL
While the market expects the next OPEC meeting, there are still no clear signs indicating that the organization will keep supporting oil prices, wh ...
Monday, 18 November 19
CHINA RECORDS STABLE COAL PRODUCTION IN JAN-OCT: XINHUA
China’s raw coal output registered stable growth in the first 10 months, while its imports remained robust, official data showed.
...
Monday, 18 November 19
SUPRAMAX: IN THE INDONESIAN COAL BUSINESS, A 58KDWT VESSEL FIXED DELIVERY PHILIPPINES, REDELIVERY INDIA AT CLOSE TO $8,000 - BALTIC BRIEFING
Capesize
For most of the week the rates were nudging up under a flurry of activity in the Pacific as levels for the West Australia to China C5 ...
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- Ceylon Electricity Board - Sri Lanka
- Merrill Lynch Commodities Europe
- Petrochimia International Co. Ltd.- Taiwan
- SMC Global Power, Philippines
- Salva Resources Pvt Ltd - India
- Georgia Ports Authority, United States
- Ministry of Transport, Egypt
- Sindya Power Generating Company Private Ltd
- PetroVietnam Power Coal Import and Supply Company
- Vijayanagar Sugar Pvt Ltd - India
- Bangladesh Power Developement Board
- Ambuja Cements Ltd - India
- Toyota Tsusho Corporation, Japan
- Kaltim Prima Coal - Indonesia
- Singapore Mercantile Exchange
- Binh Thuan Hamico - Vietnam
- Timah Investasi Mineral - Indoneisa
- Sarangani Energy Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Electricity Generating Authority of Thailand
- European Bulk Services B.V. - Netherlands
- TeaM Sual Corporation - Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- SN Aboitiz Power Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Agrawal Coal Company - India
- VISA Power Limited - India
- Rashtriya Ispat Nigam Limited - India
- Indogreen Group - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Siam City Cement PLC, Thailand
- OPG Power Generation Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Sakthi Sugars Limited - India
- CIMB Investment Bank - Malaysia
- Anglo American - United Kingdom
- Petron Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Therma Luzon, Inc, Philippines
- Indika Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- ASAPP Information Group - India
- Thiess Contractors Indonesia
- Barasentosa Lestari - Indonesia
- Vizag Seaport Private Limited - India
- Trasteel International SA, Italy
- GMR Energy Limited - India
- Africa Commodities Group - South Africa
- Ministry of Finance - Indonesia
- Bulk Trading Sa - Switzerland
- Meralco Power Generation, Philippines
- Kobexindo Tractors - Indoneisa
- MS Steel International - UAE
- Globalindo Alam Lestari - Indonesia
- Jindal Steel & Power Ltd - India
- Coastal Gujarat Power Limited - India
- Gujarat Sidhee Cement - India
- Global Coal Blending Company Limited - Australia
- Kumho Petrochemical, South Korea
- Straits Asia Resources Limited - Singapore
- Energy Development Corp, Philippines
- Dalmia Cement Bharat India
- Maheswari Brothers Coal Limited - India
- South Luzon Thermal Energy Corporation
- Eastern Coal Council - USA
- Heidelberg Cement - Germany
- ICICI Bank Limited - India
- Australian Coal Association
- Power Finance Corporation Ltd., India
- The State Trading Corporation of India Ltd
- LBH Netherlands Bv - Netherlands
- Romanian Commodities Exchange
- Marubeni Corporation - India
- Edison Trading Spa - Italy
- AsiaOL BioFuels Corp., Philippines
- White Energy Company Limited
- Antam Resourcindo - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Indian Oil Corporation Limited
- Mercator Lines Limited - India
- Madhucon Powers Ltd - India
- Siam City Cement - Thailand
- McConnell Dowell - Australia
- Price Waterhouse Coopers - Russia
- Bhatia International Limited - India
- Bukit Makmur.PT - Indonesia
- Bhushan Steel Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Latin American Coal - Colombia
- Chettinad Cement Corporation Ltd - India
- Mercuria Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- GAC Shipping (India) Pvt Ltd
- Intertek Mineral Services - Indonesia
- IHS Mccloskey Coal Group - USA
- Kapuas Tunggal Persada - Indonesia
- Pendopo Energi Batubara - Indonesia
- Metalloyd Limited - United Kingdom
- Standard Chartered Bank - UAE
- Samtan Co., Ltd - South Korea
- Lanco Infratech Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Riau Bara Harum - Indonesia
- Videocon Industries ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Kepco SPC Power Corporation, Philippines
- PowerSource Philippines DevCo
- Bhoruka Overseas - Indonesia
- New Zealand Coal & Carbon
- Sojitz Corporation - Japan
- Billiton Holdings Pty Ltd - Australia
- Indian Energy Exchange, India
- San Jose City I Power Corp, Philippines
- Grasim Industreis Ltd - India
- India Bulls Power Limited - India
- Altura Mining Limited, Indonesia
- Rio Tinto Coal - Australia
- Semirara Mining and Power Corporation, Philippines
- Sical Logistics Limited - India
- Coalindo Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Semirara Mining Corp, Philippines
- Orica Mining Services - Indonesia
- London Commodity Brokers - England
- Karbindo Abesyapradhi - Indoneisa
- PNOC Exploration Corporation - Philippines
- Wood Mackenzie - Singapore
- Independent Power Producers Association of India
- Holcim Trading Pte Ltd - Singapore
- Central Electricity Authority - India
- Bayan Resources Tbk. - Indonesia
- Eastern Energy - Thailand
- IEA Clean Coal Centre - UK
- Savvy Resources Ltd - HongKong
- Economic Council, Georgia
- Neyveli Lignite Corporation Ltd, - India
- Port Waratah Coal Services - Australia
- CNBM International Corporation - China
- Essar Steel Hazira Ltd - India
- Iligan Light & Power Inc, Philippines
- Commonwealth Bank - Australia
- Tata Chemicals Ltd - India
- Simpson Spence & Young - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Coal and Oil Company - UAE
- Minerals Council of Australia
- Leighton Contractors Pty Ltd - Australia
- SMG Consultants - Indonesia
- Bukit Baiduri Energy - Indonesia
- Central Java Power - Indonesia
- Star Paper Mills Limited - India
- Krishnapatnam Port Company Ltd. - India
- Wilmar Investment Holdings
- TNB Fuel Sdn Bhd - Malaysia
- Posco Energy - South Korea
- Electricity Authority, New Zealand
- The Treasury - Australian Government
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Medco Energi Mining Internasional
- Baramulti Group, Indonesia
- Vedanta Resources Plc - India
- Kideco Jaya Agung - Indonesia
- Malabar Cements Ltd - India
- Banpu Public Company Limited - Thailand
- Uttam Galva Steels Limited - India
- Bharathi Cement Corporation - India
- International Coal Ventures Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Cement Manufacturers Association - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Tamil Nadu electricity Board
- Ministry of Mines - Canada
- Energy Link Ltd, New Zealand
- Jaiprakash Power Ventures ltd
- Miang Besar Coal Terminal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Goldman Sachs - Singapore
- Alfred C Toepfer International GmbH - Germany
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mjunction Services Limited - India
- Attock Cement Pakistan Limited
- Directorate General of MIneral and Coal - Indonesia
- Thai Mozambique Logistica
- Xindia Steels Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Makarim & Taira - Indonesia
- GVK Power & Infra Limited - India
- Australian Commodity Traders Exchange
- Sinarmas Energy and Mining - Indonesia
- Mintek Dendrill Indonesia
- Orica Australia Pty. Ltd.
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Larsen & Toubro Limited - India
- Indonesian Coal Mining Association
- Planning Commission, India
- Kalimantan Lumbung Energi - Indonesia
- Parliament of New Zealand
- The University of Queensland
- Carbofer General Trading SA - India
- Ind-Barath Power Infra Limited - India
- Aditya Birla Group - India
- Gujarat Mineral Development Corp Ltd - India
- Directorate Of Revenue Intelligence - India
- Renaissance Capital - South Africa
- Oldendorff Carriers - Singapore
- Karaikal Port Pvt Ltd - India
- Interocean Group of Companies - India
- Deloitte Consulting - India
- Borneo Indobara - Indonesia
- Chamber of Mines of South Africa
- Parry Sugars Refinery, India
- PTC India Limited - India
- Aboitiz Power Corporation - Philippines
- Kartika Selabumi Mining - Indonesia
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