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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, 22 July 19
SUPRAMAX: THE ASIAN ARENA SAW INCREASED ACTIVITY AND STRONGER NUMBERS BEING CONCLUDED; INDONESIAN ROUNDS REMAINED FIRM - BALTIC BRIEFING
Capesize
Another week of gains as the Atlantic basin continues to be pressurised on tonnage and Brazilian cargoes keep up a steady flow. The Ca ...
Thursday, 18 July 19
WORLD TRADE IN HARD COAL ROSE BY 4.7% IN 2018 - GERMANY COAL IMPORTERS ASSOCIATION
World Trade in Hard Coal Rose by 4.7% in 2018
Hard Coal Can Prevent Stress in the Electric Power System in Germany
• Sharp decl ...
Wednesday, 17 July 19
MARKET INSIGHT - INTERMODAL
The Strait of Hormuz is one of the most important waterways in the world, connecting crude producers in the Middle East with key markets in the res ...
Tuesday, 16 July 19
KING COAL RULES IN JAPAN AS POWER UTILITIES IN THRALL TO LOW-COST FUEL - REUTERS
Japanese utilities will rely on the return of coal-fired power plants from maintenance to meet peak electricity demand this summer, highlighting th ...
Tuesday, 16 July 19
SUPRAMAX: THE ASIAN ARENA WAS SPLIT, WITH A BUILD-UP OF TONNAGE AND LACK OF ENQUIRY IN THE NORTH - BALTIC BRIEFING
Capesize
It was a Brazilian affair with a strong splash of bunkers characterising the Capesize market over the past week. Largely traded in Eur ...
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- Orica Mining Services - Indonesia
- Ministry of Mines - Canada
- Iligan Light & Power Inc, Philippines
- Vedanta Resources Plc - India
- LBH Netherlands Bv - Netherlands
- Directorate Of Revenue Intelligence - India
- Formosa Plastics Group - Taiwan
- Economic Council, Georgia
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- Indian Energy Exchange, India
- Makarim & Taira - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Australian Commodity Traders Exchange
- Indian Oil Corporation Limited
- McConnell Dowell - Australia
- Parry Sugars Refinery, India
- Romanian Commodities Exchange
- Riau Bara Harum - Indonesia
- Karaikal Port Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Bangladesh Power Developement Board
- Indo Tambangraya Megah - Indonesia
- Grasim Industreis Ltd - India
- Global Business Power Corporation, Philippines
- Ministry of Finance - Indonesia
- IHS Mccloskey Coal Group - USA
- Trasteel International SA, Italy
- Coal and Oil Company - UAE
- Bhoruka Overseas - Indonesia
- Aditya Birla Group - India
- New Zealand Coal & Carbon
- Petron Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Jorong Barutama Greston.PT - Indonesia
- Star Paper Mills Limited - India
- Bhushan Steel Limited - India
- OPG Power Generation Pvt Ltd - India
- Chamber of Mines of South Africa
- The State Trading Corporation of India Ltd
- Rio Tinto Coal - Australia
- Semirara Mining and Power Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Krishnapatnam Port Company Ltd. - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- SMC Global Power, Philippines
- Wilmar Investment Holdings
- Aboitiz Power Corporation - Philippines
- Attock Cement Pakistan Limited
- Edison Trading Spa - Italy
- Indika Energy - Indonesia
- The University of Queensland
- Heidelberg Cement - Germany
- Chettinad Cement Corporation Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Jindal Steel & Power Ltd - India
- Global Coal Blending Company Limited - Australia
- Minerals Council of Australia
- Central Java Power - Indonesia
- Thai Mozambique Logistica
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- Billiton Holdings Pty Ltd - Australia
- Electricity Authority, New Zealand
- PTC India Limited - India
- AsiaOL BioFuels Corp., Philippines
- Vizag Seaport Private Limited - India
- Mintek Dendrill Indonesia
- Barasentosa Lestari - Indonesia
- Ministry of Transport, Egypt
- Binh Thuan Hamico - Vietnam
- Maharashtra Electricity Regulatory Commission - India
- IEA Clean Coal Centre - UK
- Thiess Contractors Indonesia
- SMG Consultants - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Siam City Cement PLC, Thailand
- ICICI Bank Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Borneo Indobara - Indonesia
- Goldman Sachs - Singapore
- Energy Link Ltd, New Zealand
- Xindia Steels Limited - India
- GVK Power & Infra Limited - India
- Bulk Trading Sa - Switzerland
- Interocean Group of Companies - India
- Sinarmas Energy and Mining - Indonesia
- Posco Energy - South Korea
- Straits Asia Resources Limited - Singapore
- Intertek Mineral Services - Indonesia
- Sree Jayajothi Cements Limited - India
- Meralco Power Generation, Philippines
- Orica Australia Pty. Ltd.
- Manunggal Multi Energi - Indonesia
- Coastal Gujarat Power Limited - India
- Price Waterhouse Coopers - Russia
- PNOC Exploration Corporation - Philippines
- Global Green Power PLC Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Deloitte Consulting - India
- ASAPP Information Group - India
- Kumho Petrochemical, South Korea
- Renaissance Capital - South Africa
- Holcim Trading Pte Ltd - Singapore
- Sarangani Energy Corporation, Philippines
- GMR Energy Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- CNBM International Corporation - China
- Gujarat Electricity Regulatory Commission - India
- Sindya Power Generating Company Private Ltd
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- Bukit Asam (Persero) Tbk - Indonesia
- Bhatia International Limited - India
- Banpu Public Company Limited - Thailand
- Merrill Lynch Commodities Europe
- TeaM Sual Corporation - Philippines
- Energy Development Corp, Philippines
- Bukit Makmur.PT - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Samtan Co., Ltd - South Korea
- Maheswari Brothers Coal Limited - India
- PowerSource Philippines DevCo
- Neyveli Lignite Corporation Ltd, - India
- Kepco SPC Power Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Semirara Mining Corp, Philippines
- Ceylon Electricity Board - Sri Lanka
- India Bulls Power Limited - India
- Wood Mackenzie - Singapore
- Kobexindo Tractors - Indoneisa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Georgia Ports Authority, United States
- Leighton Contractors Pty Ltd - Australia
- Kideco Jaya Agung - Indonesia
- Mjunction Services Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Savvy Resources Ltd - HongKong
- Asmin Koalindo Tuhup - Indonesia
- The Treasury - Australian Government
- Sical Logistics Limited - India
- Meenaskhi Energy Private Limited - India
- Australian Coal Association
- Gujarat Mineral Development Corp Ltd - India
- Madhucon Powers Ltd - India
- Essar Steel Hazira Ltd - India
- Commonwealth Bank - Australia
- Coalindo Energy - Indonesia
- Independent Power Producers Association of India
- Anglo American - United Kingdom
- Latin American Coal - Colombia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PetroVietnam Power Coal Import and Supply Company
- Malabar Cements Ltd - India
- Therma Luzon, Inc, Philippines
- Mercator Lines Limited - India
- San Jose City I Power Corp, Philippines
- Miang Besar Coal Terminal - Indonesia
- Lanco Infratech Ltd - India
- Indogreen Group - Indonesia
- Singapore Mercantile Exchange
- Bahari Cakrawala Sebuku - Indonesia
- Uttam Galva Steels Limited - India
- Antam Resourcindo - Indonesia
- International Coal Ventures Pvt Ltd - India
- Cement Manufacturers Association - India
- Siam City Cement - Thailand
- Carbofer General Trading SA - India
- Bharathi Cement Corporation - India
- Oldendorff Carriers - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Standard Chartered Bank - UAE
- Petrochimia International Co. Ltd.- Taiwan
- MS Steel International - UAE
- Ind-Barath Power Infra Limited - India
- Altura Mining Limited, Indonesia
- Videocon Industries ltd - India
- Marubeni Corporation - India
- Kohat Cement Company Ltd. - Pakistan
- Larsen & Toubro Limited - India
- Simpson Spence & Young - Indonesia
- Electricity Generating Authority of Thailand
- Central Electricity Authority - India
- Sakthi Sugars Limited - India
- Bayan Resources Tbk. - Indonesia
- Africa Commodities Group - South Africa
- Gujarat Sidhee Cement - India
- CIMB Investment Bank - Malaysia
- Tamil Nadu electricity Board
- Medco Energi Mining Internasional
- Karbindo Abesyapradhi - Indoneisa
- Kapuas Tunggal Persada - Indonesia
- Metalloyd Limited - United Kingdom
- South Luzon Thermal Energy Corporation
- SN Aboitiz Power Inc, Philippines
- Eastern Coal Council - USA
- White Energy Company Limited
- Agrawal Coal Company - India
- TNB Fuel Sdn Bhd - Malaysia
- Dalmia Cement Bharat India
- Planning Commission, India
- Power Finance Corporation Ltd., India
- Directorate General of MIneral and Coal - Indonesia
- Indonesian Coal Mining Association
- Mercuria Energy - Indonesia
- Port Waratah Coal Services - Australia
- Baramulti Group, Indonesia
- VISA Power Limited - India
- Sojitz Corporation - Japan
- London Commodity Brokers - England
- Toyota Tsusho Corporation, Japan
- Bukit Baiduri Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ambuja Cements Ltd - India
- Jaiprakash Power Ventures ltd
- Parliament of New Zealand
- Eastern Energy - Thailand
- Pendopo Energi Batubara - Indonesia
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