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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, 21 October 19
COAL TO PLAY SIGNIFICANT ROLE IN SOUTH AFRICA POWER MIX - MINISTER, REUTERS REPORTED
South Africa’s plans for additional power generation over the next decade will involve a variety of energy sources, with coal still playing a ...
Monday, 21 October 19
ULTRAMAX: IN ASIA, TRIPS FROM THE SINGAPORE AREA WERE PAYING BETWEEN $14,000 AND $16,000, DEPENDING ON THE VESSEL SIZE AND DURATION - BALTIC BRIEFING
Capesize
The market traded in a relatively stable supported manner in the Pacific this week while the Atlantic experienced weakening turbulence ...
Friday, 18 October 19
WHY CRUDE TANKER RATES JUST FELL (HALFWAY) BACK TO EARTH - FREIGHT WAVES
Panic drove crude-tanker rates up, very briefly, to mind-bogglingly high assessed levels of around $300,000 per day. Now, the fear factor has been ...
Friday, 18 October 19
SHORT TERM STRENGTH FOR OZ COMMODITIES - BALTIC BRIEFING
Volatility in the global commodity markets is not expected to unduly rattle Australia’s commodity outlook through 2020, but the 2021 picture ...
Friday, 18 October 19
SINGAPORE'S APEX TO LAUNCH LOW-SULFUR FUEL OIL CONTRACT AHEAD OF NEW SHIPPING RULES - REUTERS
Singapore-based Asia Pacific Exchange (APEX) will launch a low-sulfur fuel oil (LSFO) futures contract on Friday aimed at helping shipping and ener ...
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- Commonwealth Bank - Australia
- Bukit Makmur.PT - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Banpu Public Company Limited - Thailand
- CNBM International Corporation - China
- Parliament of New Zealand
- Jorong Barutama Greston.PT - Indonesia
- Ambuja Cements Ltd - India
- Central Java Power - Indonesia
- Romanian Commodities Exchange
- Australian Commodity Traders Exchange
- Xindia Steels Limited - India
- Star Paper Mills Limited - India
- Central Electricity Authority - India
- Metalloyd Limited - United Kingdom
- Chettinad Cement Corporation Ltd - India
- Orica Australia Pty. Ltd.
- ASAPP Information Group - India
- Ceylon Electricity Board - Sri Lanka
- Pendopo Energi Batubara - Indonesia
- Kepco SPC Power Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Formosa Plastics Group - Taiwan
- Coal and Oil Company - UAE
- Australian Coal Association
- Kalimantan Lumbung Energi - Indonesia
- Global Coal Blending Company Limited - Australia
- AsiaOL BioFuels Corp., Philippines
- Chamber of Mines of South Africa
- International Coal Ventures Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Meenaskhi Energy Private Limited - India
- Ministry of Finance - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Barasentosa Lestari - Indonesia
- Bhoruka Overseas - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Maharashtra Electricity Regulatory Commission - India
- Aditya Birla Group - India
- Larsen & Toubro Limited - India
- Savvy Resources Ltd - HongKong
- Timah Investasi Mineral - Indoneisa
- Thiess Contractors Indonesia
- Videocon Industries ltd - India
- Indogreen Group - Indonesia
- Kumho Petrochemical, South Korea
- OPG Power Generation Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Medco Energi Mining Internasional
- Price Waterhouse Coopers - Russia
- Ind-Barath Power Infra Limited - India
- Manunggal Multi Energi - Indonesia
- SN Aboitiz Power Inc, Philippines
- Africa Commodities Group - South Africa
- Kohat Cement Company Ltd. - Pakistan
- Wilmar Investment Holdings
- Sojitz Corporation - Japan
- The University of Queensland
- Sinarmas Energy and Mining - Indonesia
- Electricity Generating Authority of Thailand
- Vizag Seaport Private Limited - India
- Indonesian Coal Mining Association
- Binh Thuan Hamico - Vietnam
- Essar Steel Hazira Ltd - India
- Sree Jayajothi Cements Limited - India
- Mintek Dendrill Indonesia
- Sical Logistics Limited - India
- Mercator Lines Limited - India
- Latin American Coal - Colombia
- Semirara Mining and Power Corporation, Philippines
- Heidelberg Cement - Germany
- Bharathi Cement Corporation - India
- LBH Netherlands Bv - Netherlands
- Bukit Asam (Persero) Tbk - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Toyota Tsusho Corporation, Japan
- Karbindo Abesyapradhi - Indoneisa
- Indo Tambangraya Megah - Indonesia
- Kobexindo Tractors - Indoneisa
- Wood Mackenzie - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Singapore Mercantile Exchange
- Petrochimia International Co. Ltd.- Taiwan
- Madhucon Powers Ltd - India
- Grasim Industreis Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Directorate Of Revenue Intelligence - India
- Bhatia International Limited - India
- Baramulti Group, Indonesia
- Tamil Nadu electricity Board
- Minerals Council of Australia
- Indika Energy - Indonesia
- White Energy Company Limited
- Samtan Co., Ltd - South Korea
- Georgia Ports Authority, United States
- India Bulls Power Limited - India
- Straits Asia Resources Limited - Singapore
- Krishnapatnam Port Company Ltd. - India
- Edison Trading Spa - Italy
- Cement Manufacturers Association - India
- Aboitiz Power Corporation - Philippines
- Kideco Jaya Agung - Indonesia
- Independent Power Producers Association of India
- Vedanta Resources Plc - India
- Alfred C Toepfer International GmbH - Germany
- Tata Chemicals Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Dalmia Cement Bharat India
- Antam Resourcindo - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Iligan Light & Power Inc, Philippines
- Bhushan Steel Limited - India
- Standard Chartered Bank - UAE
- GAC Shipping (India) Pvt Ltd
- Power Finance Corporation Ltd., India
- Siam City Cement - Thailand
- IHS Mccloskey Coal Group - USA
- VISA Power Limited - India
- Kaltim Prima Coal - Indonesia
- Malabar Cements Ltd - India
- SMG Consultants - Indonesia
- Deloitte Consulting - India
- Parry Sugars Refinery, India
- Miang Besar Coal Terminal - Indonesia
- Global Business Power Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Eastern Coal Council - USA
- Bulk Trading Sa - Switzerland
- Jaiprakash Power Ventures ltd
- Semirara Mining Corp, Philippines
- IEA Clean Coal Centre - UK
- Interocean Group of Companies - India
- Anglo American - United Kingdom
- Globalindo Alam Lestari - Indonesia
- SMC Global Power, Philippines
- Mjunction Services Limited - India
- Intertek Mineral Services - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- European Bulk Services B.V. - Netherlands
- Riau Bara Harum - Indonesia
- Trasteel International SA, Italy
- Directorate General of MIneral and Coal - Indonesia
- New Zealand Coal & Carbon
- Merrill Lynch Commodities Europe
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Salva Resources Pvt Ltd - India
- The Treasury - Australian Government
- Karaikal Port Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Thai Mozambique Logistica
- San Jose City I Power Corp, Philippines
- Altura Mining Limited, Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- PowerSource Philippines DevCo
- Sakthi Sugars Limited - India
- Bangladesh Power Developement Board
- Oldendorff Carriers - Singapore
- MS Steel International - UAE
- Posco Energy - South Korea
- Bukit Baiduri Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Agrawal Coal Company - India
- Gujarat Sidhee Cement - India
- Coalindo Energy - Indonesia
- McConnell Dowell - Australia
- Port Waratah Coal Services - Australia
- Goldman Sachs - Singapore
- Economic Council, Georgia
- Makarim & Taira - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Uttam Galva Steels Limited - India
- Ministry of Mines - Canada
- Energy Link Ltd, New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Renaissance Capital - South Africa
- Billiton Holdings Pty Ltd - Australia
- Indian Energy Exchange, India
- Indian Oil Corporation Limited
- Ministry of Transport, Egypt
- GVK Power & Infra Limited - India
- Attock Cement Pakistan Limited
- PetroVietnam Power Coal Import and Supply Company
- Bayan Resources Tbk. - Indonesia
- CIMB Investment Bank - Malaysia
- Borneo Indobara - Indonesia
- PNOC Exploration Corporation - Philippines
- Planning Commission, India
- ICICI Bank Limited - India
- Carbofer General Trading SA - India
- Eastern Energy - Thailand
- Orica Mining Services - Indonesia
- Electricity Authority, New Zealand
- GMR Energy Limited - India
- Lanco Infratech Ltd - India
- South Luzon Thermal Energy Corporation
- TeaM Sual Corporation - Philippines
- Rio Tinto Coal - Australia
- Sindya Power Generating Company Private Ltd
- London Commodity Brokers - England
- Petron Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Simpson Spence & Young - Indonesia
- Energy Development Corp, Philippines
- Meralco Power Generation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Mercuria Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Holcim Trading Pte Ltd - Singapore
- Global Green Power PLC Corporation, Philippines
- Siam City Cement PLC, Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Marubeni Corporation - India
- Jindal Steel & Power Ltd - India
- PTC India Limited - India
- The State Trading Corporation of India Ltd
- Therma Luzon, Inc, Philippines
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