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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, 05 August 11
RIO TINTO SIGNS MOU WITH JINDAL STEEL AND POWER ON ADVANCING HISMELT TECHNOLOGY
Press Release - Rio Tinto has signed a Memorandum of Understanding (MoU) with Jindal Steel and Power Limited (JSPL) to take the next step in g ...
Friday, 05 August 11
THE WORLDS LARGEST COAL MINER TO INVEST IN INDO MINES
COALspot.com - Golden Energy Mines (GEMS) might go for initial public offering (IPO) by the end of September 2011. The company is planning to off lo ...
Friday, 05 August 11
DRY BULK MARKET FINALLY TAKES A BREATHER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market at last caught a break mid-week after a constant fall which saw the industry’s benchmark, the BDI (Baltic Dry Index) falli ...
Thursday, 04 August 11
THE HBA CONTINUES TO FALL IN AUGUST
COALspot.com - Ministry of Energy and Mineral Resources of Indonesia has set the August 2011 coal reference price at US$ 117.21 per ton slightly low ...
Wednesday, 03 August 11
DEWA RETURNS TO US$2.65 MIO NET PROFIT - INSIDER STORIES
Coal mining contractor PT Darma Henwa Tbk (DEWA), that most of its revenue is contributed by Kaltim Prima Coal and Arutmin Indonesia, returned to ne ...
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- Madhucon Powers Ltd - India
- Parry Sugars Refinery, India
- Formosa Plastics Group - Taiwan
- Cement Manufacturers Association - India
- Karaikal Port Pvt Ltd - India
- The University of Queensland
- Electricity Generating Authority of Thailand
- Parliament of New Zealand
- Renaissance Capital - South Africa
- Wilmar Investment Holdings
- Indonesian Coal Mining Association
- Vedanta Resources Plc - India
- Bangladesh Power Developement Board
- Kaltim Prima Coal - Indonesia
- Tata Chemicals Ltd - India
- Oldendorff Carriers - Singapore
- Bulk Trading Sa - Switzerland
- Samtan Co., Ltd - South Korea
- Interocean Group of Companies - India
- Kohat Cement Company Ltd. - Pakistan
- Salva Resources Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- ASAPP Information Group - India
- Sical Logistics Limited - India
- Bhatia International Limited - India
- Sakthi Sugars Limited - India
- PNOC Exploration Corporation - Philippines
- Kumho Petrochemical, South Korea
- Australian Coal Association
- Bhoruka Overseas - Indonesia
- Toyota Tsusho Corporation, Japan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bharathi Cement Corporation - India
- South Luzon Thermal Energy Corporation
- Pipit Mutiara Jaya. PT, Indonesia
- Wood Mackenzie - Singapore
- Barasentosa Lestari - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Posco Energy - South Korea
- GAC Shipping (India) Pvt Ltd
- Ministry of Finance - Indonesia
- The State Trading Corporation of India Ltd
- Georgia Ports Authority, United States
- Straits Asia Resources Limited - Singapore
- IHS Mccloskey Coal Group - USA
- Meenaskhi Energy Private Limited - India
- Africa Commodities Group - South Africa
- Banpu Public Company Limited - Thailand
- Bayan Resources Tbk. - Indonesia
- Agrawal Coal Company - India
- Coastal Gujarat Power Limited - India
- Alfred C Toepfer International GmbH - Germany
- Mintek Dendrill Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kobexindo Tractors - Indoneisa
- Lanco Infratech Ltd - India
- Ministry of Transport, Egypt
- Chettinad Cement Corporation Ltd - India
- Dalmia Cement Bharat India
- Aditya Birla Group - India
- Altura Mining Limited, Indonesia
- Rashtriya Ispat Nigam Limited - India
- Gujarat Sidhee Cement - India
- Riau Bara Harum - Indonesia
- Savvy Resources Ltd - HongKong
- Bhushan Steel Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Energy Development Corp, Philippines
- Sree Jayajothi Cements Limited - India
- Metalloyd Limited - United Kingdom
- Australian Commodity Traders Exchange
- Antam Resourcindo - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Jorong Barutama Greston.PT - Indonesia
- Maheswari Brothers Coal Limited - India
- ICICI Bank Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Orica Australia Pty. Ltd.
- Billiton Holdings Pty Ltd - Australia
- CNBM International Corporation - China
- Indo Tambangraya Megah - Indonesia
- Mjunction Services Limited - India
- Makarim & Taira - Indonesia
- Jindal Steel & Power Ltd - India
- Tamil Nadu electricity Board
- Independent Power Producers Association of India
- Rio Tinto Coal - Australia
- Trasteel International SA, Italy
- Binh Thuan Hamico - Vietnam
- Mercator Lines Limited - India
- Global Green Power PLC Corporation, Philippines
- Vizag Seaport Private Limited - India
- Deloitte Consulting - India
- Ministry of Mines - Canada
- Miang Besar Coal Terminal - Indonesia
- Meralco Power Generation, Philippines
- Kapuas Tunggal Persada - Indonesia
- International Coal Ventures Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- San Jose City I Power Corp, Philippines
- Ambuja Cements Ltd - India
- Minerals Council of Australia
- Ind-Barath Power Infra Limited - India
- Holcim Trading Pte Ltd - Singapore
- Energy Link Ltd, New Zealand
- Vijayanagar Sugar Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- PowerSource Philippines DevCo
- Timah Investasi Mineral - Indoneisa
- Bukit Makmur.PT - Indonesia
- CIMB Investment Bank - Malaysia
- Leighton Contractors Pty Ltd - Australia
- Latin American Coal - Colombia
- OPG Power Generation Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Electricity Authority, New Zealand
- Gujarat Electricity Regulatory Commission - India
- Jaiprakash Power Ventures ltd
- Iligan Light & Power Inc, Philippines
- European Bulk Services B.V. - Netherlands
- Borneo Indobara - Indonesia
- MS Steel International - UAE
- Maharashtra Electricity Regulatory Commission - India
- Siam City Cement - Thailand
- Central Java Power - Indonesia
- Heidelberg Cement - Germany
- McConnell Dowell - Australia
- Price Waterhouse Coopers - Russia
- Thiess Contractors Indonesia
- GMR Energy Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Eastern Energy - Thailand
- Global Coal Blending Company Limited - Australia
- Therma Luzon, Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- Indian Oil Corporation Limited
- Star Paper Mills Limited - India
- VISA Power Limited - India
- Economic Council, Georgia
- Petrochimia International Co. Ltd.- Taiwan
- SMG Consultants - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Standard Chartered Bank - UAE
- New Zealand Coal & Carbon
- PTC India Limited - India
- Planning Commission, India
- Indogreen Group - Indonesia
- Kartika Selabumi Mining - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Marubeni Corporation - India
- Baramulti Group, Indonesia
- Thai Mozambique Logistica
- Chamber of Mines of South Africa
- Globalindo Alam Lestari - Indonesia
- London Commodity Brokers - England
- Power Finance Corporation Ltd., India
- Larsen & Toubro Limited - India
- Grasim Industreis Ltd - India
- Semirara Mining Corp, Philippines
- Xindia Steels Limited - India
- The Treasury - Australian Government
- Karbindo Abesyapradhi - Indoneisa
- Uttam Galva Steels Limited - India
- Medco Energi Mining Internasional
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Petron Corporation, Philippines
- Merrill Lynch Commodities Europe
- Indian Energy Exchange, India
- Eastern Coal Council - USA
- Malabar Cements Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- India Bulls Power Limited - India
- Port Waratah Coal Services - Australia
- Simpson Spence & Young - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Mercuria Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Singapore Mercantile Exchange
- Kepco SPC Power Corporation, Philippines
- Coal and Oil Company - UAE
- Coalindo Energy - Indonesia
- Indika Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Cigading International Bulk Terminal - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Commonwealth Bank - Australia
- Asmin Koalindo Tuhup - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- SN Aboitiz Power Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Edison Trading Spa - Italy
- Gujarat Mineral Development Corp Ltd - India
- Romanian Commodities Exchange
- Goldman Sachs - Singapore
- IEA Clean Coal Centre - UK
- Intertek Mineral Services - Indonesia
- Carbofer General Trading SA - India
- Anglo American - United Kingdom
- SMC Global Power, Philippines
- Siam City Cement PLC, Thailand
- Sojitz Corporation - Japan
- LBH Netherlands Bv - Netherlands
- GVK Power & Infra Limited - India
- Videocon Industries ltd - India
- Sindya Power Generating Company Private Ltd
- AsiaOL BioFuels Corp., Philippines
- Attock Cement Pakistan Limited
- Orica Mining Services - Indonesia
- Manunggal Multi Energi - Indonesia
- Global Business Power Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- White Energy Company Limited
- Central Electricity Authority - India
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