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Monday, 05 April 10
RI TO SET REFERENCE FOR COMMODITIES - THE JAKARTA POST
 The Jakarta Post reported that, Indonesia is set to help establish global reference prices for mining and agricultural commodities, with the establishment of a privately owned Indonesia Commodity and Derivatives Exchange (ICDX).
The new exchange is expected to help improve the country’s underdeveloped futures market and make the country the fifth largest commodity futures exchange in the world, says Commodity Futures Trading Supervisory Board (Bappebti) head Deddy Saleh.
“We have permitted the establishment of a new exchange … because we’ve seen in the last 10 years that there have been no satisfactory results since the BBJ [Jakarta Futures Exchange] was established [in 2000],” he told reporters during a conference after the official launch of the ICDX.
He said the BBJ should have served as a price reference and a place for hedging but it had failed due to “the absence of competitors and slow management”.
According to Deddy, 98 percent of transactions occurring in the BBJ were alternative trading, such as foreign exchange and indexing, which were yet to be regulated.
“This [ICDX] is privately owned. A private company won’t play around with their capital,” said Deddy.
ICDX president director Megain Widjaja said trading in the ICDX would be transparent as transaction data could be accessed online and later on TV.
“We have cooperated with Bloomberg. But transactions are still closed [for time being] … We’ll later cooperate with Reuters so [transactions] can be accessed online and can be seen on TV and the internet.”
Trade Minister Mari Elka Pangestu, who was also present, said: “The importance of a commodity futures exchange is that transactions will be more liquid, more transparent and [we can be] a price reference,” she said.
She said farmers would have more bargaining power on prices when negotiating with their buyers, and thus, cartel practices — control over prices of a commodity by certain parties — could be avoided.
She also said foreign brokers and market traders were now allowed to trade in the exchange to make the country’s commodity futures exchange perform better.
The ICDX is now trading gold and crude palm oil (CPO) futures contracts.
The ICDX has listed 15 members, seven of whom are CPO producers. The members are PT Wilmar Nabati Indonesia, publicly listed PT Sinar Mas Agro Resources, publicly listed PT Sampoerna Agro, PT Duta Palma Nusantara, publicly listed PT BW Plantation, PT Palm Mas Asri, PT Danpac Futures, PT Valbury Asia Futures, PT Sinarmas Futures, PT Universal Futures, PT Aperdi and PT Monex Investindo.
The senior economist of Standard Chartered Bank Fauzi Ichsan said with Indonesia being the world’s largest CPO producer, “it is time to have a commodity futures exchange”. But, he said, big investors would likely trade in Singapore as the latter’s market was more liquid. “We hope they’re not only listed [in the ICDX] but that they will also trade in Indonesia,” he told The Jakarta Post.
Source: The Jakarta Post
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Friday, 30 September 11
MINING BILL CLEARED, FIRMS TO SHARE 26% PROFITS WITH LOCALS - NDTV
NDTV reported that, The Union Cabinet cleared the draft mining bill aimed at regulating mining activities Friday. The bill proposes a profit-sharing ...
Friday, 30 September 11
INDIAN IRON ORE MARKET GETTING ACTIVE - FEARNLEYS AS
Handy
The Atlantic market continued its strong trend with fresh cargoes entering the market. Vessels open US Gulf fixed tick above US$ 27k back to t ...
Friday, 30 September 11
KRISHNAPATNAM PORT WINS GLOBAL PORT & COAL PORT OF THE YEAR AWARDS
COALspot.com - Krishnapatnam Port, a dynamic new generation world class port located in the East Coast of India has been adjudged the winner in the ...
Thursday, 29 September 11
INDONESIA'S MINERS FACE AN UNCERTAIN FUTURE - RUPERT WALKER
An evolving regulatory framework for the country's minerals industry could threaten its profitability and stifle investment.
The five-year surge ...
Thursday, 29 September 11
DRY BULK MARKET FALLS MID-WEEK, FURTHER DROP EXPECTED NEXT WEEK ON CHINA HOLIDAYS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market, as reflected by the Baltic Dry Index (BDI) retreated by 0.36% yesterday reaching 1,920 points, with the Capesize segment suffer ...
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- The University of Queensland
- PTC India Limited - India
- Bharathi Cement Corporation - India
- Kapuas Tunggal Persada - Indonesia
- Electricity Authority, New Zealand
- TeaM Sual Corporation - Philippines
- CIMB Investment Bank - Malaysia
- PNOC Exploration Corporation - Philippines
- Agrawal Coal Company - India
- Global Coal Blending Company Limited - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Jorong Barutama Greston.PT - Indonesia
- Sakthi Sugars Limited - India
- Sarangani Energy Corporation, Philippines
- Indika Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- AsiaOL BioFuels Corp., Philippines
- Formosa Plastics Group - Taiwan
- VISA Power Limited - India
- Videocon Industries ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Malabar Cements Ltd - India
- ICICI Bank Limited - India
- Mintek Dendrill Indonesia
- Jaiprakash Power Ventures ltd
- Port Waratah Coal Services - Australia
- Ambuja Cements Ltd - India
- Ministry of Finance - Indonesia
- Baramulti Group, Indonesia
- Straits Asia Resources Limited - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Renaissance Capital - South Africa
- PowerSource Philippines DevCo
- Tamil Nadu electricity Board
- Meralco Power Generation, Philippines
- Kepco SPC Power Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Power Finance Corporation Ltd., India
- Electricity Generating Authority of Thailand
- Gujarat Sidhee Cement - India
- Aboitiz Power Corporation - Philippines
- Vizag Seaport Private Limited - India
- Planning Commission, India
- Savvy Resources Ltd - HongKong
- TNB Fuel Sdn Bhd - Malaysia
- Singapore Mercantile Exchange
- Semirara Mining and Power Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Orica Mining Services - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Maheswari Brothers Coal Limited - India
- International Coal Ventures Pvt Ltd - India
- London Commodity Brokers - England
- Petron Corporation, Philippines
- Chamber of Mines of South Africa
- Interocean Group of Companies - India
- Simpson Spence & Young - Indonesia
- Salva Resources Pvt Ltd - India
- ASAPP Information Group - India
- Vijayanagar Sugar Pvt Ltd - India
- Borneo Indobara - Indonesia
- Ceylon Electricity Board - Sri Lanka
- SMC Global Power, Philippines
- Globalindo Alam Lestari - Indonesia
- Merrill Lynch Commodities Europe
- Binh Thuan Hamico - Vietnam
- Larsen & Toubro Limited - India
- Chettinad Cement Corporation Ltd - India
- Anglo American - United Kingdom
- Rashtriya Ispat Nigam Limited - India
- Romanian Commodities Exchange
- Eastern Coal Council - USA
- Sinarmas Energy and Mining - Indonesia
- Central Java Power - Indonesia
- Africa Commodities Group - South Africa
- Australian Coal Association
- Therma Luzon, Inc, Philippines
- Cement Manufacturers Association - India
- Grasim Industreis Ltd - India
- Bhatia International Limited - India
- Ministry of Mines - Canada
- Attock Cement Pakistan Limited
- MS Steel International - UAE
- Asmin Koalindo Tuhup - Indonesia
- Energy Link Ltd, New Zealand
- Global Business Power Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- IHS Mccloskey Coal Group - USA
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mjunction Services Limited - India
- OPG Power Generation Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Bulk Trading Sa - Switzerland
- Kideco Jaya Agung - Indonesia
- Xindia Steels Limited - India
- Kaltim Prima Coal - Indonesia
- Vedanta Resources Plc - India
- Neyveli Lignite Corporation Ltd, - India
- GMR Energy Limited - India
- Price Waterhouse Coopers - Russia
- Bangladesh Power Developement Board
- Carbofer General Trading SA - India
- Banpu Public Company Limited - Thailand
- Trasteel International SA, Italy
- Mercator Lines Limited - India
- Essar Steel Hazira Ltd - India
- Dalmia Cement Bharat India
- Timah Investasi Mineral - Indoneisa
- Orica Australia Pty. Ltd.
- Oldendorff Carriers - Singapore
- Bukit Makmur.PT - Indonesia
- Deloitte Consulting - India
- Iligan Light & Power Inc, Philippines
- Ministry of Transport, Egypt
- Siam City Cement PLC, Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Alfred C Toepfer International GmbH - Germany
- SN Aboitiz Power Inc, Philippines
- Mercuria Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Makarim & Taira - Indonesia
- Bukit Baiduri Energy - Indonesia
- Indogreen Group - Indonesia
- White Energy Company Limited
- Antam Resourcindo - Indonesia
- Indian Oil Corporation Limited
- Parliament of New Zealand
- Bayan Resources Tbk. - Indonesia
- McConnell Dowell - Australia
- Lanco Infratech Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Metalloyd Limited - United Kingdom
- CNBM International Corporation - China
- Medco Energi Mining Internasional
- Economic Council, Georgia
- PetroVietnam Power Coal Import and Supply Company
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Altura Mining Limited, Indonesia
- India Bulls Power Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Semirara Mining Corp, Philippines
- Edison Trading Spa - Italy
- Leighton Contractors Pty Ltd - Australia
- New Zealand Coal & Carbon
- Maharashtra Electricity Regulatory Commission - India
- Kumho Petrochemical, South Korea
- Siam City Cement - Thailand
- Samtan Co., Ltd - South Korea
- Heidelberg Cement - Germany
- Central Electricity Authority - India
- SMG Consultants - Indonesia
- LBH Netherlands Bv - Netherlands
- Goldman Sachs - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Parry Sugars Refinery, India
- Uttam Galva Steels Limited - India
- Karaikal Port Pvt Ltd - India
- Australian Commodity Traders Exchange
- GAC Shipping (India) Pvt Ltd
- Kalimantan Lumbung Energi - Indonesia
- Thiess Contractors Indonesia
- Manunggal Multi Energi - Indonesia
- The State Trading Corporation of India Ltd
- Ind-Barath Power Infra Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Georgia Ports Authority, United States
- Minerals Council of Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Indo Tambangraya Megah - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Latin American Coal - Colombia
- GN Power Mariveles Coal Plant, Philippines
- The Treasury - Australian Government
- Independent Power Producers Association of India
- Sojitz Corporation - Japan
- Barasentosa Lestari - Indonesia
- Indian Energy Exchange, India
- Intertek Mineral Services - Indonesia
- Directorate Of Revenue Intelligence - India
- Rio Tinto Coal - Australia
- Bhoruka Overseas - Indonesia
- Energy Development Corp, Philippines
- Thai Mozambique Logistica
- Sree Jayajothi Cements Limited - India
- Miang Besar Coal Terminal - Indonesia
- Posco Energy - South Korea
- Riau Bara Harum - Indonesia
- Madhucon Powers Ltd - India
- Meenaskhi Energy Private Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Commonwealth Bank - Australia
- Sindya Power Generating Company Private Ltd
- Sical Logistics Limited - India
- Standard Chartered Bank - UAE
- South Luzon Thermal Energy Corporation
- Kartika Selabumi Mining - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Aditya Birla Group - India
- Wilmar Investment Holdings
- Coastal Gujarat Power Limited - India
- Coalindo Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Indonesian Coal Mining Association
- Coal and Oil Company - UAE
- Directorate General of MIneral and Coal - Indonesia
- Tata Chemicals Ltd - India
- Eastern Energy - Thailand
- GVK Power & Infra Limited - India
- IEA Clean Coal Centre - UK
- Star Paper Mills Limited - India
- European Bulk Services B.V. - Netherlands
- Bhushan Steel Limited - India
- Wood Mackenzie - Singapore
- Holcim Trading Pte Ltd - Singapore
- Marubeni Corporation - India
- Billiton Holdings Pty Ltd - Australia
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