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Thursday, 03 December 09
INDONESIA MAY ALLOW COAL SALES BELOW GOVT PRICE
 Reuters reported that, Indonesia is considering giving producers some flexibility to sell coal below the government's monthly benchmark price to cope with competition in export markets, a government official said on Wednesday.
The government has previously said it would set up its own monthly coal price benchmark in order to reduce the practice of transfer pricing and reduce losses to the state.
Under transfer pricing, some Indonesian coal firms sell coal to affiliates in countries such as Singapore at artificially low prices in order to avoid paying hefty taxes.
Bambang Gatot Ariyono, director of mineral and coal production at the energy ministry, said producers were concerned that they might not win overseas tenders if they always have to sell above the benchmark price.
"There's concerns from producers that competitors may bid slightly lower than our benchmark prices to win overseas tenders because they know we can't sell below the benchmark," Ariyono, director said on the sidelines of the McCloskey Asia Pacific Coal Outlook Conference 2009 in Bali.
"So we discussed a proposal to give flexibility to producers to sell coal below a benchmark price to anticipate competition in export markets," he said.
But implementation of the government's coal index is still awaiting completion of regulations under a new mining and coal law passed in December, which are facing delays.
The index will be made up of prices of 8 types of coal, ranging from 7,000 kcal/kg to 4,200 kcal/kg on gross as-received (GAR) basis.
Supriatna Suhala, executive director of the Indonesian Coal Producers Association, said producers needed the flexibility to set coal prices especially when selling low-quality coal.
"We have to give discounts for certain type of coal that are low quality such as having high moisture or sulphur content so that we can sell," Suhala said.
Indonesia, the world's biggest exporter of thermal coal, is expected to produce 270-280 million tonnes of coal next year, the association has said.
Even if selling below the government's benchmark price, producers would have to pay non-income taxes including royalties based on the benchmark price, Ariyono said, adding the plan was still being discussed between with producers.
Source: Reuters
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Thursday, 03 December 09
PROLONGED COAL MARGIN SQUEEZE AHEAD - WESCOAL
Mining Weekly reported that, Coal junior Wescoal foresees a continued margin squeeze ahead. The JSE AltX-listed company's gross margin was reduced ...
Tuesday, 01 December 09
COAL DEMAND REBOUNDING FROM DOWNTURN - U.S. MINING EXECS
The coal industry is slowly rebounding from last year's recession with demand and prices inching upward, although inventories at U.S. power ...
Tuesday, 01 December 09
INDONESIA COAL OUTPUT SEEN LIFTED BY CHINA, INDIA
Reuters reported that, Indonesia's coal output is expected to grow by as much as 12 percent in 2010, boosted by demand from power hungry China and ...
Monday, 30 November 09
NTPC SCOUTS FOR MORE COAL BLOCKS IN INDONESIA
State-run National Thermal Power Corporation (NTPC) today said it has identified three more coal blocks in Indonesia for acquisition.
"We ha ...
Monday, 30 November 09
THE FUTURES FOR THREE YEARS (2010-2012) WAS SOFT COMPARED TO LAST WEEK - VISTAAR SINGAPORE
COALspot.com (Singapore): BDI continued to drop this week and touched below 4,000 mark level. The drop in BDI was almost 12 pct and closed at 3,975 ...
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- Carbofer General Trading SA - India
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- Central Java Power - Indonesia
- Port Waratah Coal Services - Australia
- GVK Power & Infra Limited - India
- Renaissance Capital - South Africa
- Binh Thuan Hamico - Vietnam
- Leighton Contractors Pty Ltd - Australia
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- Indian Oil Corporation Limited
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- Directorate Of Revenue Intelligence - India
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- London Commodity Brokers - England
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- Minerals Council of Australia
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- Petron Corporation, Philippines
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- Dalmia Cement Bharat India
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- Ministry of Finance - Indonesia
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- White Energy Company Limited
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- Asia Pacific Energy Resources Ventures Inc, Philippines
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- Heidelberg Cement - Germany
- Commonwealth Bank - Australia
- Economic Council, Georgia
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- Banpu Public Company Limited - Thailand
- Iligan Light & Power Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Siam City Cement PLC, Thailand
- Billiton Holdings Pty Ltd - Australia
- GMR Energy Limited - India
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- Petrochimia International Co. Ltd.- Taiwan
- Uttam Galva Steels Limited - India
- Indonesian Coal Mining Association
- Price Waterhouse Coopers - Russia
- Oldendorff Carriers - Singapore
- Bulk Trading Sa - Switzerland
- Energy Development Corp, Philippines
- Mercator Lines Limited - India
- Sojitz Corporation - Japan
- IHS Mccloskey Coal Group - USA
- Mercuria Energy - Indonesia
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- Bharathi Cement Corporation - India
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- Romanian Commodities Exchange
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- Energy Link Ltd, New Zealand
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- Orica Mining Services - Indonesia
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- Posco Energy - South Korea
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- Global Business Power Corporation, Philippines
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- Indo Tambangraya Megah - Indonesia
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- Sakthi Sugars Limited - India
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- Kohat Cement Company Ltd. - Pakistan
- Mintek Dendrill Indonesia
- Electricity Authority, New Zealand
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- European Bulk Services B.V. - Netherlands
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- CIMB Investment Bank - Malaysia
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- Bhoruka Overseas - Indonesia
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- Eastern Coal Council - USA
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- Savvy Resources Ltd - HongKong
- Indian Energy Exchange, India
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- Bangladesh Power Developement Board
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- Edison Trading Spa - Italy
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- Alfred C Toepfer International GmbH - Germany
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- Merrill Lynch Commodities Europe
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- GAC Shipping (India) Pvt Ltd
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- The University of Queensland
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- Bank of Tokyo Mitsubishi UFJ Ltd
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