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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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Tuesday, 23 August 11
COAL DEMAND IS REMAINED STRONG IN SPITE OF CURRENT GLOBAL ECONOMIC UNCERTAINTY - BUMI
COALspot.com - Indonesia's largest coal producer, PT Bumi Resources, Tbk (BUMI)'s sales revenue has increased to US$1.79 billion (compared with US ...
Tuesday, 23 August 11
PENRHYN COAL USING EVERGREEN ENERGYS COAL UPGRADING PROCESS
Evergreen Energy Inc has announced the successful testing results of the initial batches of Penrhyn coal using Evergreen Energy’s coal upgradi ...
Tuesday, 23 August 11
A SHARP INCREASE IN THE BDI - BRS
A sharp increase in the BDI this week, driven by the rise in Capesize rates. Overall the BDI was up 13.5% to 1,462 points on the back of a 20% surge ...
Monday, 22 August 11
INDONESIA TO BAN BELOW 5700 KCAL/KG COAL FOR EXPORT
COALspot.com - Ministry of Energy and Mineral Resources of Indonesia is in the process of drafting a regulation which is requiring mine owners ...
Monday, 22 August 11
JATENERGY AGREED TO FORM JV WITH AN INDONESIAN COAL MINING COMPANY
COALspot.com - Australian’s listed company, Jatenergy Limited has entered conditional agreement to form joint venture with Indonesia’s c ...
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- Vedanta Resources Plc - India
- Price Waterhouse Coopers - Russia
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- Alfred C Toepfer International GmbH - Germany
- India Bulls Power Limited - India
- Kepco SPC Power Corporation, Philippines
- Singapore Mercantile Exchange
- Standard Chartered Bank - UAE
- Sinarmas Energy and Mining - Indonesia
- Mercuria Energy - Indonesia
- Antam Resourcindo - Indonesia
- CIMB Investment Bank - Malaysia
- Goldman Sachs - Singapore
- Medco Energi Mining Internasional
- Kobexindo Tractors - Indoneisa
- Xindia Steels Limited - India
- Eastern Energy - Thailand
- Leighton Contractors Pty Ltd - Australia
- Bukit Baiduri Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Jaiprakash Power Ventures ltd
- Rashtriya Ispat Nigam Limited - India
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- Independent Power Producers Association of India
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- Indian Energy Exchange, India
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- Bank of Tokyo Mitsubishi UFJ Ltd
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- Planning Commission, India
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- The State Trading Corporation of India Ltd
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- Tata Chemicals Ltd - India
- Carbofer General Trading SA - India
- Gujarat Electricity Regulatory Commission - India
- The Treasury - Australian Government
- Bulk Trading Sa - Switzerland
- Kartika Selabumi Mining - Indonesia
- Coastal Gujarat Power Limited - India
- Anglo American - United Kingdom
- SMC Global Power, Philippines
- MS Steel International - UAE
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- Meralco Power Generation, Philippines
- Indogreen Group - Indonesia
- Samtan Co., Ltd - South Korea
- CNBM International Corporation - China
- McConnell Dowell - Australia
- Jorong Barutama Greston.PT - Indonesia
- Ind-Barath Power Infra Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Petrochimia International Co. Ltd.- Taiwan
- Central Electricity Authority - India
- Miang Besar Coal Terminal - Indonesia
- Tamil Nadu electricity Board
- Riau Bara Harum - Indonesia
- Star Paper Mills Limited - India
- Siam City Cement - Thailand
- South Luzon Thermal Energy Corporation
- Interocean Group of Companies - India
- Trasteel International SA, Italy
- Coalindo Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Minerals Council of Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Krishnapatnam Port Company Ltd. - India
- Essar Steel Hazira Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Dalmia Cement Bharat India
- GN Power Mariveles Coal Plant, Philippines
- Timah Investasi Mineral - Indoneisa
- Energy Development Corp, Philippines
- Therma Luzon, Inc, Philippines
- Heidelberg Cement - Germany
- Attock Cement Pakistan Limited
- Indian Oil Corporation Limited
- Madhucon Powers Ltd - India
- New Zealand Coal & Carbon
- TNB Fuel Sdn Bhd - Malaysia
- Gujarat Mineral Development Corp Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Makarim & Taira - Indonesia
- Global Coal Blending Company Limited - Australia
- White Energy Company Limited
- PNOC Exploration Corporation - Philippines
- Baramulti Group, Indonesia
- Directorate Of Revenue Intelligence - India
- Kideco Jaya Agung - Indonesia
- Aboitiz Power Corporation - Philippines
- Aditya Birla Group - India
- International Coal Ventures Pvt Ltd - India
- PowerSource Philippines DevCo
- Sojitz Corporation - Japan
- Pendopo Energi Batubara - Indonesia
- Deloitte Consulting - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Energy Link Ltd, New Zealand
- Siam City Cement PLC, Thailand
- Gujarat Sidhee Cement - India
- European Bulk Services B.V. - Netherlands
- Neyveli Lignite Corporation Ltd, - India
- Intertek Mineral Services - Indonesia
- Toyota Tsusho Corporation, Japan
- VISA Power Limited - India
- Orica Australia Pty. Ltd.
- Thiess Contractors Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Kumho Petrochemical, South Korea
- Coal and Oil Company - UAE
- Electricity Authority, New Zealand
- Ministry of Transport, Egypt
- Savvy Resources Ltd - HongKong
- Wilmar Investment Holdings
- Merrill Lynch Commodities Europe
- Bukit Asam (Persero) Tbk - Indonesia
- Mjunction Services Limited - India
- Larsen & Toubro Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GVK Power & Infra Limited - India
- Port Waratah Coal Services - Australia
- Chettinad Cement Corporation Ltd - India
- Edison Trading Spa - Italy
- Petron Corporation, Philippines
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- GAC Shipping (India) Pvt Ltd
- PTC India Limited - India
- Semirara Mining and Power Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
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- Parry Sugars Refinery, India
- Africa Commodities Group - South Africa
- Global Business Power Corporation, Philippines
- Romanian Commodities Exchange
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Vizag Seaport Private Limited - India
- Malabar Cements Ltd - India
- San Jose City I Power Corp, Philippines
- Australian Commodity Traders Exchange
- Kaltim Prima Coal - Indonesia
- LBH Netherlands Bv - Netherlands
- Mercator Lines Limited - India
- Cigading International Bulk Terminal - Indonesia
- Sical Logistics Limited - India
- Electricity Generating Authority of Thailand
- London Commodity Brokers - England
- Straits Asia Resources Limited - Singapore
- Power Finance Corporation Ltd., India
- Indo Tambangraya Megah - Indonesia
- Manunggal Multi Energi - Indonesia
- OPG Power Generation Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Bhushan Steel Limited - India
- ASAPP Information Group - India
- Wood Mackenzie - Singapore
- Indonesian Coal Mining Association
- Ambuja Cements Ltd - India
- Mintek Dendrill Indonesia
- Chamber of Mines of South Africa
- Bharathi Cement Corporation - India
- Oldendorff Carriers - Singapore
- Meenaskhi Energy Private Limited - India
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- Globalindo Alam Lestari - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Sakthi Sugars Limited - India
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- Ministry of Mines - Canada
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- GMR Energy Limited - India
- IEA Clean Coal Centre - UK
- Maheswari Brothers Coal Limited - India
- Bhatia International Limited - India
- Binh Thuan Hamico - Vietnam
- SMG Consultants - Indonesia
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