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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, 02 July 10
PROPOSED MINERAL RESOURCE RENT TAX - PRESS RELEASE (2)
Press Release: BHP Billiton, Rio Tinto and Xstrata said today that they are encouraged by the Federal Government’s announcement that it propos ...
Friday, 02 July 10
MINERALS RESOURCE TAXATION IN AUSTRALIA - PRESS RELEASE
Press Release : Rio Tinto acknowledges the Australian Government’s announcement that the Resource Super Profits Tax (RSPT) proposal will be re ...
Thursday, 01 July 10
TATA POWER TO RAISE US$300 MILLION THROUGH ITS COAL SPVS TO FUND ADDITIONAL ACQUISITIONS AND / OR REDUCE OUTSTANDING DEBT
Stock Markets Review reported that, Tata Power, India’s largest private power player has signed an agreement to raise US$300 million in Bhira ...
Thursday, 01 July 10
HELLENIC SHIPPING NEWS POLL: THE BDI WILL STAY ABOVE 3,000 POINTS IN THE SECOND HALF OF 2010
When Hellenic Shipping News Worldwide prepared June’s poll asking readers about where do they think that the Baltic Dry Index (BDI) will range ...
Thursday, 01 July 10
PANAMAX MARKETS CONTINUE TO DROP IN ALL BASINS - FEARNLEYS
Handy
Atlantic rates continue to slide with little activity. Supras open in USG get low 30´s to Med and mid 40´s to FEast. Hmax/Supra ...
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- Semirara Mining Corp, Philippines
- Sojitz Corporation - Japan
- LBH Netherlands Bv - Netherlands
- Mintek Dendrill Indonesia
- Semirara Mining and Power Corporation, Philippines
- Central Java Power - Indonesia
- Dalmia Cement Bharat India
- SMG Consultants - Indonesia
- Eastern Coal Council - USA
- Maheswari Brothers Coal Limited - India
- Ministry of Transport, Egypt
- Rio Tinto Coal - Australia
- GN Power Mariveles Coal Plant, Philippines
- Billiton Holdings Pty Ltd - Australia
- Kalimantan Lumbung Energi - Indonesia
- New Zealand Coal & Carbon
- Simpson Spence & Young - Indonesia
- Bayan Resources Tbk. - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Samtan Co., Ltd - South Korea
- Electricity Generating Authority of Thailand
- Kartika Selabumi Mining - Indonesia
- Parry Sugars Refinery, India
- Savvy Resources Ltd - HongKong
- Port Waratah Coal Services - Australia
- San Jose City I Power Corp, Philippines
- Global Business Power Corporation, Philippines
- Tamil Nadu electricity Board
- Agrawal Coal Company - India
- White Energy Company Limited
- SN Aboitiz Power Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Straits Asia Resources Limited - Singapore
- Eastern Energy - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Jindal Steel & Power Ltd - India
- Singapore Mercantile Exchange
- Malabar Cements Ltd - India
- Petron Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Thiess Contractors Indonesia
- Australian Commodity Traders Exchange
- Metalloyd Limited - United Kingdom
- Banpu Public Company Limited - Thailand
- Ministry of Mines - Canada
- Coastal Gujarat Power Limited - India
- Kapuas Tunggal Persada - Indonesia
- Mercuria Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Vijayanagar Sugar Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- VISA Power Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Antam Resourcindo - Indonesia
- Electricity Authority, New Zealand
- India Bulls Power Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Gujarat Electricity Regulatory Commission - India
- Orica Mining Services - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- GVK Power & Infra Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Timah Investasi Mineral - Indoneisa
- Makarim & Taira - Indonesia
- Attock Cement Pakistan Limited
- Rashtriya Ispat Nigam Limited - India
- Coalindo Energy - Indonesia
- The Treasury - Australian Government
- Central Electricity Authority - India
- Minerals Council of Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Formosa Plastics Group - Taiwan
- London Commodity Brokers - England
- Interocean Group of Companies - India
- Mjunction Services Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Star Paper Mills Limited - India
- Independent Power Producers Association of India
- Sarangani Energy Corporation, Philippines
- Trasteel International SA, Italy
- Commonwealth Bank - Australia
- Sakthi Sugars Limited - India
- CIMB Investment Bank - Malaysia
- Kideco Jaya Agung - Indonesia
- Bangladesh Power Developement Board
- Karaikal Port Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Latin American Coal - Colombia
- Indogreen Group - Indonesia
- CNBM International Corporation - China
- Krishnapatnam Port Company Ltd. - India
- Asmin Koalindo Tuhup - Indonesia
- Cement Manufacturers Association - India
- Pendopo Energi Batubara - Indonesia
- Uttam Galva Steels Limited - India
- Sindya Power Generating Company Private Ltd
- Australian Coal Association
- Wood Mackenzie - Singapore
- Vedanta Resources Plc - India
- European Bulk Services B.V. - Netherlands
- Sree Jayajothi Cements Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Gujarat Sidhee Cement - India
- Jaiprakash Power Ventures ltd
- Kepco SPC Power Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Indo Tambangraya Megah - Indonesia
- Heidelberg Cement - Germany
- Wilmar Investment Holdings
- Goldman Sachs - Singapore
- Essar Steel Hazira Ltd - India
- Planning Commission, India
- Indonesian Coal Mining Association
- Vizag Seaport Private Limited - India
- Energy Link Ltd, New Zealand
- Chettinad Cement Corporation Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Barasentosa Lestari - Indonesia
- Ministry of Finance - Indonesia
- Global Green Power PLC Corporation, Philippines
- Lanco Infratech Ltd - India
- TeaM Sual Corporation - Philippines
- Indian Oil Corporation Limited
- McConnell Dowell - Australia
- The State Trading Corporation of India Ltd
- IHS Mccloskey Coal Group - USA
- Binh Thuan Hamico - Vietnam
- Cigading International Bulk Terminal - Indonesia
- Meenaskhi Energy Private Limited - India
- Indika Energy - Indonesia
- Deloitte Consulting - India
- Parliament of New Zealand
- Renaissance Capital - South Africa
- Price Waterhouse Coopers - Russia
- SMC Global Power, Philippines
- Anglo American - United Kingdom
- MS Steel International - UAE
- Madhucon Powers Ltd - India
- Posco Energy - South Korea
- Kohat Cement Company Ltd. - Pakistan
- Globalindo Alam Lestari - Indonesia
- The University of Queensland
- Siam City Cement - Thailand
- Edison Trading Spa - Italy
- PNOC Exploration Corporation - Philippines
- Aboitiz Power Corporation - Philippines
- Bhoruka Overseas - Indonesia
- Kumho Petrochemical, South Korea
- Oldendorff Carriers - Singapore
- GMR Energy Limited - India
- Miang Besar Coal Terminal - Indonesia
- Bukit Baiduri Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Coal and Oil Company - UAE
- Tata Chemicals Ltd - India
- Global Coal Blending Company Limited - Australia
- Holcim Trading Pte Ltd - Singapore
- Ambuja Cements Ltd - India
- PTC India Limited - India
- Bhushan Steel Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Therma Luzon, Inc, Philippines
- Mercator Lines Limited - India
- Larsen & Toubro Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- ICICI Bank Limited - India
- Iligan Light & Power Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- Chamber of Mines of South Africa
- Energy Development Corp, Philippines
- Xindia Steels Limited - India
- Siam City Cement PLC, Thailand
- Riau Bara Harum - Indonesia
- Orica Australia Pty. Ltd.
- Kobexindo Tractors - Indoneisa
- Sical Logistics Limited - India
- Thai Mozambique Logistica
- Indian Energy Exchange, India
- Medco Energi Mining Internasional
- Romanian Commodities Exchange
- Carbofer General Trading SA - India
- ASAPP Information Group - India
- Ceylon Electricity Board - Sri Lanka
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Directorate Of Revenue Intelligence - India
- Bhatia International Limited - India
- GAC Shipping (India) Pvt Ltd
- Merrill Lynch Commodities Europe
- Bharathi Cement Corporation - India
- Bukit Makmur.PT - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Standard Chartered Bank - UAE
- Leighton Contractors Pty Ltd - Australia
- Georgia Ports Authority, United States
- Kaltim Prima Coal - Indonesia
- Salva Resources Pvt Ltd - India
- Economic Council, Georgia
- Videocon Industries ltd - India
- Manunggal Multi Energi - Indonesia
- Aditya Birla Group - India
- Grasim Industreis Ltd - India
- Marubeni Corporation - India
- Power Finance Corporation Ltd., India
- AsiaOL BioFuels Corp., Philippines
- International Coal Ventures Pvt Ltd - India
- Baramulti Group, Indonesia
- Africa Commodities Group - South Africa
- Bulk Trading Sa - Switzerland
- IEA Clean Coal Centre - UK
- Borneo Indobara - Indonesia
- PowerSource Philippines DevCo
- Meralco Power Generation, Philippines
- Altura Mining Limited, Indonesia
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