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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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Sunday, 23 June 19
SUPRAMAX: A 56,000-DWT WAS FIXED FROM INDONESIA TO VIETNAM AT $10,000 - BALTIC BRIEFING
Capesize
The story over the past week has been largely Atlantic dominated as the basin’s uniquely volatile characteristics came into play ...
Saturday, 22 June 19
OPEC'S BATTLE FOR CONTROL OF THE OIL MARKET - WOOD MACKENZIE
Oil supply is confounding expectations. We have just raised our forecasts for non-OPEC production, the latest in a series of incremental increases. ...
Friday, 21 June 19
INDONESIA'S BAYAN RESOURCES SIGNED A COAL SUPPLY AGREEMENT WITH THE BANGLADESH BCPCL TO SUPPLY 23 MILLION TONS OF COAL FOR 10 YEARS
On Monday, 17th June 2019, PT. Bayan Resources signed a Coal supply Agreement with the Bangladesh- China Power Company (Pvt.) Limited. BCPCL is a j ...
Thursday, 20 June 19
BUMI RESOURCES EXPECTS TO SELL 42 MILLION TONS OF COAL IN FIRST HALF - JAKARTA POST
PT Bumi Resources (BUMI), Indonesia's largest thermal coal miner, expects to close the first half of this year with coal sales of 42 million to ...
Tuesday, 18 June 19
TANKER SHIPPING: WHILE WE WAIT FOR 2020 TO KICK IN, IT'S ALL ABOUT POLITICS - BIMCO
Demand drivers and freight rates
Iran, Libya and Venezuela face export limitations because of sanctions and internal political troubles. At the s ...
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- Formosa Plastics Group - Taiwan
- Meenaskhi Energy Private Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Marubeni Corporation - India
- Wilmar Investment Holdings
- Grasim Industreis Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Global Business Power Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Minerals Council of Australia
- Bukit Makmur.PT - Indonesia
- Malabar Cements Ltd - India
- Price Waterhouse Coopers - Russia
- Baramulti Group, Indonesia
- Bhatia International Limited - India
- Manunggal Multi Energi - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Coastal Gujarat Power Limited - India
- South Luzon Thermal Energy Corporation
- Vizag Seaport Private Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Kideco Jaya Agung - Indonesia
- Georgia Ports Authority, United States
- Tamil Nadu electricity Board
- MS Steel International - UAE
- SN Aboitiz Power Inc, Philippines
- Mercuria Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Parliament of New Zealand
- Mjunction Services Limited - India
- New Zealand Coal & Carbon
- Kohat Cement Company Ltd. - Pakistan
- Sical Logistics Limited - India
- Planning Commission, India
- Indian Oil Corporation Limited
- Alfred C Toepfer International GmbH - Germany
- Port Waratah Coal Services - Australia
- Oldendorff Carriers - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Posco Energy - South Korea
- AsiaOL BioFuels Corp., Philippines
- Therma Luzon, Inc, Philippines
- Vedanta Resources Plc - India
- Asmin Koalindo Tuhup - Indonesia
- Altura Mining Limited, Indonesia
- Deloitte Consulting - India
- Electricity Generating Authority of Thailand
- PowerSource Philippines DevCo
- Indogreen Group - Indonesia
- Petron Corporation, Philippines
- Medco Energi Mining Internasional
- Barasentosa Lestari - Indonesia
- Orica Mining Services - Indonesia
- Billiton Holdings Pty Ltd - Australia
- OPG Power Generation Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Energy Development Corp, Philippines
- Meralco Power Generation, Philippines
- Global Green Power PLC Corporation, Philippines
- Siam City Cement PLC, Thailand
- Thiess Contractors Indonesia
- Larsen & Toubro Limited - India
- Ministry of Mines - Canada
- Pipit Mutiara Jaya. PT, Indonesia
- London Commodity Brokers - England
- Cement Manufacturers Association - India
- Power Finance Corporation Ltd., India
- The State Trading Corporation of India Ltd
- Antam Resourcindo - Indonesia
- LBH Netherlands Bv - Netherlands
- Africa Commodities Group - South Africa
- Savvy Resources Ltd - HongKong
- International Coal Ventures Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Coalindo Energy - Indonesia
- Australian Coal Association
- Renaissance Capital - South Africa
- Rio Tinto Coal - Australia
- Central Java Power - Indonesia
- Toyota Tsusho Corporation, Japan
- Borneo Indobara - Indonesia
- Sojitz Corporation - Japan
- Singapore Mercantile Exchange
- Lanco Infratech Ltd - India
- Makarim & Taira - Indonesia
- Uttam Galva Steels Limited - India
- Gujarat Mineral Development Corp Ltd - India
- IHS Mccloskey Coal Group - USA
- Directorate General of MIneral and Coal - Indonesia
- SMC Global Power, Philippines
- Mercator Lines Limited - India
- The Treasury - Australian Government
- Indo Tambangraya Megah - Indonesia
- Ind-Barath Power Infra Limited - India
- Kepco SPC Power Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Cigading International Bulk Terminal - Indonesia
- Metalloyd Limited - United Kingdom
- Semirara Mining Corp, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Timah Investasi Mineral - Indoneisa
- TNB Fuel Sdn Bhd - Malaysia
- Pendopo Energi Batubara - Indonesia
- San Jose City I Power Corp, Philippines
- Karaikal Port Pvt Ltd - India
- Bangladesh Power Developement Board
- Semirara Mining and Power Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Jaiprakash Power Ventures ltd
- Sindya Power Generating Company Private Ltd
- Aboitiz Power Corporation - Philippines
- Mintek Dendrill Indonesia
- Binh Thuan Hamico - Vietnam
- CIMB Investment Bank - Malaysia
- Chettinad Cement Corporation Ltd - India
- Coal and Oil Company - UAE
- Indian Energy Exchange, India
- Jorong Barutama Greston.PT - Indonesia
- Merrill Lynch Commodities Europe
- Indonesian Coal Mining Association
- Heidelberg Cement - Germany
- SMG Consultants - Indonesia
- ASAPP Information Group - India
- Maheswari Brothers Coal Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GVK Power & Infra Limited - India
- Krishnapatnam Port Company Ltd. - India
- Interocean Group of Companies - India
- Xindia Steels Limited - India
- PNOC Exploration Corporation - Philippines
- Chamber of Mines of South Africa
- Goldman Sachs - Singapore
- Bulk Trading Sa - Switzerland
- Independent Power Producers Association of India
- European Bulk Services B.V. - Netherlands
- Offshore Bulk Terminal Pte Ltd, Singapore
- Anglo American - United Kingdom
- Bhoruka Overseas - Indonesia
- Carbofer General Trading SA - India
- Neyveli Lignite Corporation Ltd, - India
- IEA Clean Coal Centre - UK
- Intertek Mineral Services - Indonesia
- Indika Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- GMR Energy Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Global Coal Blending Company Limited - Australia
- Tata Chemicals Ltd - India
- Romanian Commodities Exchange
- Riau Bara Harum - Indonesia
- Kumho Petrochemical, South Korea
- Siam City Cement - Thailand
- Gujarat Sidhee Cement - India
- Attock Cement Pakistan Limited
- Orica Australia Pty. Ltd.
- The University of Queensland
- Sarangani Energy Corporation, Philippines
- Ambuja Cements Ltd - India
- Sakthi Sugars Limited - India
- Economic Council, Georgia
- Agrawal Coal Company - India
- TeaM Sual Corporation - Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Ministry of Finance - Indonesia
- Banpu Public Company Limited - Thailand
- Australian Commodity Traders Exchange
- Bukit Baiduri Energy - Indonesia
- Dalmia Cement Bharat India
- GAC Shipping (India) Pvt Ltd
- Eastern Energy - Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Bhushan Steel Limited - India
- Madhucon Powers Ltd - India
- Simpson Spence & Young - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Jindal Steel & Power Ltd - India
- Thai Mozambique Logistica
- Commonwealth Bank - Australia
- Iligan Light & Power Inc, Philippines
- PTC India Limited - India
- Directorate Of Revenue Intelligence - India
- Vijayanagar Sugar Pvt Ltd - India
- ICICI Bank Limited - India
- CNBM International Corporation - China
- India Bulls Power Limited - India
- Ceylon Electricity Board - Sri Lanka
- McConnell Dowell - Australia
- Sree Jayajothi Cements Limited - India
- Wood Mackenzie - Singapore
- Energy Link Ltd, New Zealand
- Central Electricity Authority - India
- Holcim Trading Pte Ltd - Singapore
- Videocon Industries ltd - India
- Straits Asia Resources Limited - Singapore
- Aditya Birla Group - India
- Parry Sugars Refinery, India
- Edison Trading Spa - Italy
- Bharathi Cement Corporation - India
- Electricity Authority, New Zealand
- Rashtriya Ispat Nigam Limited - India
- Latin American Coal - Colombia
- Globalindo Alam Lestari - Indonesia
- Ministry of Transport, Egypt
- VISA Power Limited - India
- Trasteel International SA, Italy
- Bayan Resources Tbk. - Indonesia
- Star Paper Mills Limited - India
- White Energy Company Limited
- Bank of Tokyo Mitsubishi UFJ Ltd
- Eastern Coal Council - USA
- Standard Chartered Bank - UAE
- Samtan Co., Ltd - South Korea
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