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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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Monday, 04 November 19
PANAMAX: WEAKER SENTIMENTS CONTINUED FROM LAST WEEK, WITH RATES FURTHER SOFTENING IN BOTH BASINS - BALTIC BRIEFING
Capesize
The Capesize market meandered slightly upwards this week before giving back much of its gains mid-week. Opening the week at $24,945, t ...
Thursday, 31 October 19
U.S. COAL-FIRED POWER PLANTS SCHEDULED TO SHUT - REUTERS
U.S. power companies expect to retire or convert from coal to gas over 13,800 megawatts (MW) of coal-fired plants in 2019 after shutting over 13,30 ...
Thursday, 31 October 19
SE ASIA MAY BECOME NET FOSSIL FUEL IMPORTER IN COMING YEARS - IEA
Southeast Asia is set to become a key driver of world energy trends over the next 20 years as its energy demand grows at twice the global average, ...
Monday, 28 October 19
ULTRAMAX: ASIA RATES REMAINED UNDER PRESSURE WITH THE NORTH LACKING FRESH ENQUIRY - BALTIC BRIEFING
Capesize
The end of the week brought about a small increase in sentiment heading into a long weekend for some regions. After sustaining a drop ...
Thursday, 24 October 19
AUSTRALIA'S HOPES TO EXPAND COAL EXPORTS IN SOUTH-EAST ASIA 'DELUSIONAL', EXPERTS SAY - THE GUARDIAN
The number of new coal-fired power plants starting construction across south-east Asia has fallen markedly over the past two years as Australia has ...
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- New Zealand Coal & Carbon
- Australian Coal Association
- Coal and Oil Company - UAE
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Larsen & Toubro Limited - India
- Savvy Resources Ltd - HongKong
- Billiton Holdings Pty Ltd - Australia
- South Luzon Thermal Energy Corporation
- PetroVietnam Power Coal Import and Supply Company
- Uttam Galva Steels Limited - India
- San Jose City I Power Corp, Philippines
- Goldman Sachs - Singapore
- Directorate Of Revenue Intelligence - India
- Vizag Seaport Private Limited - India
- Binh Thuan Hamico - Vietnam
- Bhatia International Limited - India
- The University of Queensland
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Commonwealth Bank - Australia
- Ceylon Electricity Board - Sri Lanka
- TNB Fuel Sdn Bhd - Malaysia
- Sindya Power Generating Company Private Ltd
- Sinarmas Energy and Mining - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- IHS Mccloskey Coal Group - USA
- Trasteel International SA, Italy
- Coalindo Energy - Indonesia
- Dalmia Cement Bharat India
- Neyveli Lignite Corporation Ltd, - India
- SMG Consultants - Indonesia
- VISA Power Limited - India
- GN Power Mariveles Coal Plant, Philippines
- LBH Netherlands Bv - Netherlands
- Chamber of Mines of South Africa
- Bukit Makmur.PT - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Semirara Mining Corp, Philippines
- Coastal Gujarat Power Limited - India
- Posco Energy - South Korea
- Cigading International Bulk Terminal - Indonesia
- Eastern Energy - Thailand
- Tata Chemicals Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Singapore Mercantile Exchange
- Cement Manufacturers Association - India
- Port Waratah Coal Services - Australia
- Sarangani Energy Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Edison Trading Spa - Italy
- Ministry of Mines - Canada
- Wood Mackenzie - Singapore
- Attock Cement Pakistan Limited
- European Bulk Services B.V. - Netherlands
- Kartika Selabumi Mining - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Kobexindo Tractors - Indoneisa
- Madhucon Powers Ltd - India
- Bayan Resources Tbk. - Indonesia
- Barasentosa Lestari - Indonesia
- GMR Energy Limited - India
- ASAPP Information Group - India
- Carbofer General Trading SA - India
- Maheswari Brothers Coal Limited - India
- Toyota Tsusho Corporation, Japan
- Agrawal Coal Company - India
- Kalimantan Lumbung Energi - Indonesia
- McConnell Dowell - Australia
- Salva Resources Pvt Ltd - India
- Indogreen Group - Indonesia
- Bukit Baiduri Energy - Indonesia
- Indian Oil Corporation Limited
- Parliament of New Zealand
- Antam Resourcindo - Indonesia
- Chettinad Cement Corporation Ltd - India
- Power Finance Corporation Ltd., India
- Grasim Industreis Ltd - India
- Oldendorff Carriers - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Formosa Plastics Group - Taiwan
- SN Aboitiz Power Inc, Philippines
- ICICI Bank Limited - India
- GAC Shipping (India) Pvt Ltd
- PNOC Exploration Corporation - Philippines
- MS Steel International - UAE
- Tamil Nadu electricity Board
- Kideco Jaya Agung - Indonesia
- Borneo Indobara - Indonesia
- Romanian Commodities Exchange
- Bhushan Steel Limited - India
- Essar Steel Hazira Ltd - India
- Independent Power Producers Association of India
- Siam City Cement - Thailand
- Latin American Coal - Colombia
- Petrochimia International Co. Ltd.- Taiwan
- GVK Power & Infra Limited - India
- Standard Chartered Bank - UAE
- Renaissance Capital - South Africa
- Holcim Trading Pte Ltd - Singapore
- Altura Mining Limited, Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Xindia Steels Limited - India
- Alfred C Toepfer International GmbH - Germany
- Sakthi Sugars Limited - India
- Interocean Group of Companies - India
- Thiess Contractors Indonesia
- Star Paper Mills Limited - India
- Timah Investasi Mineral - Indoneisa
- Jorong Barutama Greston.PT - Indonesia
- Marubeni Corporation - India
- Bhoruka Overseas - Indonesia
- Electricity Generating Authority of Thailand
- Orica Australia Pty. Ltd.
- Vedanta Resources Plc - India
- Petron Corporation, Philippines
- Orica Mining Services - Indonesia
- Wilmar Investment Holdings
- Kohat Cement Company Ltd. - Pakistan
- Gujarat Mineral Development Corp Ltd - India
- Videocon Industries ltd - India
- Mintek Dendrill Indonesia
- AsiaOL BioFuels Corp., Philippines
- International Coal Ventures Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Australian Commodity Traders Exchange
- Sojitz Corporation - Japan
- Indo Tambangraya Megah - Indonesia
- Central Electricity Authority - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Thai Mozambique Logistica
- Aboitiz Power Corporation - Philippines
- TeaM Sual Corporation - Philippines
- Ministry of Transport, Egypt
- Gujarat Electricity Regulatory Commission - India
- Intertek Mineral Services - Indonesia
- Sree Jayajothi Cements Limited - India
- Ambuja Cements Ltd - India
- Indonesian Coal Mining Association
- SMC Global Power, Philippines
- Kepco SPC Power Corporation, Philippines
- Ministry of Finance - Indonesia
- Energy Development Corp, Philippines
- The State Trading Corporation of India Ltd
- Medco Energi Mining Internasional
- Global Green Power PLC Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Banpu Public Company Limited - Thailand
- Simpson Spence & Young - Indonesia
- Gujarat Sidhee Cement - India
- Central Java Power - Indonesia
- Therma Luzon, Inc, Philippines
- White Energy Company Limited
- Heidelberg Cement - Germany
- Iligan Light & Power Inc, Philippines
- Samtan Co., Ltd - South Korea
- Rio Tinto Coal - Australia
- Deloitte Consulting - India
- Indian Energy Exchange, India
- Metalloyd Limited - United Kingdom
- Krishnapatnam Port Company Ltd. - India
- Malabar Cements Ltd - India
- PTC India Limited - India
- Global Business Power Corporation, Philippines
- IEA Clean Coal Centre - UK
- Minerals Council of Australia
- The Treasury - Australian Government
- Sical Logistics Limited - India
- Merrill Lynch Commodities Europe
- Globalindo Alam Lestari - Indonesia
- Riau Bara Harum - Indonesia
- Indika Energy - Indonesia
- Bangladesh Power Developement Board
- India Bulls Power Limited - India
- Parry Sugars Refinery, India
- Karaikal Port Pvt Ltd - India
- Aditya Birla Group - India
- Kaltim Prima Coal - Indonesia
- Ind-Barath Power Infra Limited - India
- Global Coal Blending Company Limited - Australia
- Directorate General of MIneral and Coal - Indonesia
- Kumho Petrochemical, South Korea
- Bulk Trading Sa - Switzerland
- Pendopo Energi Batubara - Indonesia
- Energy Link Ltd, New Zealand
- Price Waterhouse Coopers - Russia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Eastern Coal Council - USA
- Jindal Steel & Power Ltd - India
- Planning Commission, India
- CIMB Investment Bank - Malaysia
- Meralco Power Generation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Meenaskhi Energy Private Limited - India
- Anglo American - United Kingdom
- Electricity Authority, New Zealand
- OPG Power Generation Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Georgia Ports Authority, United States
- Rashtriya Ispat Nigam Limited - India
- Makarim & Taira - Indonesia
- PowerSource Philippines DevCo
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bharathi Cement Corporation - India
- Mercuria Energy - Indonesia
- Africa Commodities Group - South Africa
- CNBM International Corporation - China
- Economic Council, Georgia
- London Commodity Brokers - England
- Baramulti Group, Indonesia
- Mercator Lines Limited - India
- Lanco Infratech Ltd - India
- Mjunction Services Limited - India
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