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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, 15 October 10
VALUE ADDED TAX FOR COAL TO RE-INTRODUCE IN INDONESIA
COALspot.com: Indonesian government is drafting a ministerial decree to re-introduce value added tax for coal and mineral. Coalindo weekly news lett ...
Thursday, 14 October 10
COAL PRICES AT QINHUANGDAO PORT UP - CAPITALVUE
Capitalvue reported that, prices of steam coal yielding 5,500 kilocalories per kilogram (kcal/kg) in Qinhuangdao Port have risen five yuan to 715-72 ...
Thursday, 14 October 10
DRY BULK MARKET MAINTAINS POSITIVE TREND ON FIRMER CHINESE IRON ORE DEMAND
The dry bulk market has kept its upward trend set since last week, with the industry’s main benchmark, the Baltic Dry Index (BDI) rising to 2, ...
Tuesday, 12 October 10
DRY BULK MARKET LOOKING FOR DIRECTION AFTER WEEK OF CAPESIZE GROWTH
The dry bulk market ended Monday unchanged from Friday’s closing, today standing at 2,695 points. In summary, the capesize and the supramax se ...
Tuesday, 12 October 10
COAL SPOT TRADING MAY SOOTH PRICING CONFLICTS - GLOBAL TIMES
Global Times reported that, Tianjin-based Bohai Commodity Exchange launched steam coal for spot trading for the first time Monday. Steam coal is mai ...
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- Toyota Tsusho Corporation, Japan
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- Siam City Cement PLC, Thailand
- ICICI Bank Limited - India
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- Parliament of New Zealand
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- Goldman Sachs - Singapore
- LBH Netherlands Bv - Netherlands
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- Simpson Spence & Young - Indonesia
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- IEA Clean Coal Centre - UK
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- Chamber of Mines of South Africa
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- Ministry of Transport, Egypt
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- Vizag Seaport Private Limited - India
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- Orica Australia Pty. Ltd.
- GAC Shipping (India) Pvt Ltd
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- Energy Link Ltd, New Zealand
- Intertek Mineral Services - Indonesia
- Maheswari Brothers Coal Limited - India
- Videocon Industries ltd - India
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- Trasteel International SA, Italy
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- Standard Chartered Bank - UAE
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- Metalloyd Limited - United Kingdom
- Indian Energy Exchange, India
- Ministry of Finance - Indonesia
- Edison Trading Spa - Italy
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- The Treasury - Australian Government
- PTC India Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ministry of Mines - Canada
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- Therma Luzon, Inc, Philippines
- Economic Council, Georgia
- Thiess Contractors Indonesia
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- Energy Development Corp, Philippines
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- Coalindo Energy - Indonesia
- Posco Energy - South Korea
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- Directorate General of MIneral and Coal - Indonesia
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- IHS Mccloskey Coal Group - USA
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- Electricity Authority, New Zealand
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- Karbindo Abesyapradhi - Indoneisa
- Sakthi Sugars Limited - India
- The University of Queensland
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- The State Trading Corporation of India Ltd
- Australian Coal Association
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- Africa Commodities Group - South Africa
- Borneo Indobara - Indonesia
- Bangladesh Power Developement Board
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- Timah Investasi Mineral - Indoneisa
- Deloitte Consulting - India
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- Eastern Coal Council - USA
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- Wilmar Investment Holdings
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- Independent Power Producers Association of India
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- Aboitiz Power Corporation - Philippines
- Leighton Contractors Pty Ltd - Australia
- Kideco Jaya Agung - Indonesia
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- Offshore Bulk Terminal Pte Ltd, Singapore
- Sarangani Energy Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Makarim & Taira - Indonesia
- White Energy Company Limited
- Dalmia Cement Bharat India
- Binh Thuan Hamico - Vietnam
- Romanian Commodities Exchange
- Bhatia International Limited - India
- Siam City Cement - Thailand
- GMR Energy Limited - India
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