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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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Thursday, 27 May 10
DRY BULK RATES REACH 2010 HIGHS, BUT FUTURE REMAINS UNCERTAIN
This week is proving to be a milestone for the dry bulk market, as the Baltic Dry Index has propelled itself at never before seen levels for 2010. Y ...
Wednesday, 26 May 10
ADANI GROUP EYES AFRICA FOR COAL MINING PROJECTS
India Info Line reported that, After acquiring coal mines for importing Indonesian coal to run its thermal power plants in the country, the Adani Gr ...
Wednesday, 26 May 10
DRY BULK MARKET SHOOTS UP, CLOSES IN ON POST-CRISIS ERA HIGHS
In an opposite trend than that of the previous week, the Baltic Dry Index (BDI), a benchmark for tracking costs to haul commodities at sea, shot up ...
Wednesday, 26 May 10
BUMI TO CUT UP TO USD 1 BILLION DEBT IN 12 MONTHS
Press Release : PT Bumi Resources Tbk. announced yesterday that it has revived its intent to issue non preemptive shares and added this to the agend ...
Tuesday, 25 May 10
COAL PRODUCTION MAY REACH 320 MILLION TONS THIS YEAR - THE JAKARTA POST
The Jakarta Post reported that, Indonesian coal miners expect to produce as much as 320 million tons of coal this year, an increase of nearly 7 perc ...
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- Siam City Cement PLC, Thailand
- The State Trading Corporation of India Ltd
- Intertek Mineral Services - Indonesia
- Oldendorff Carriers - Singapore
- Singapore Mercantile Exchange
- Power Finance Corporation Ltd., India
- Ambuja Cements Ltd - India
- Videocon Industries ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Lanco Infratech Ltd - India
- Mintek Dendrill Indonesia
- Tamil Nadu electricity Board
- Indian Oil Corporation Limited
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- SN Aboitiz Power Inc, Philippines
- European Bulk Services B.V. - Netherlands
- Jindal Steel & Power Ltd - India
- Attock Cement Pakistan Limited
- Formosa Plastics Group - Taiwan
- Maheswari Brothers Coal Limited - India
- Bhatia International Limited - India
- Energy Link Ltd, New Zealand
- Banpu Public Company Limited - Thailand
- India Bulls Power Limited - India
- Ministry of Mines - Canada
- Binh Thuan Hamico - Vietnam
- PowerSource Philippines DevCo
- Sindya Power Generating Company Private Ltd
- Metalloyd Limited - United Kingdom
- IEA Clean Coal Centre - UK
- London Commodity Brokers - England
- Bukit Asam (Persero) Tbk - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- New Zealand Coal & Carbon
- Edison Trading Spa - Italy
- White Energy Company Limited
- Uttam Galva Steels Limited - India
- Antam Resourcindo - Indonesia
- MS Steel International - UAE
- Romanian Commodities Exchange
- Sree Jayajothi Cements Limited - India
- Australian Coal Association
- Price Waterhouse Coopers - Russia
- Maharashtra Electricity Regulatory Commission - India
- OPG Power Generation Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Vizag Seaport Private Limited - India
- Iligan Light & Power Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Eastern Coal Council - USA
- Mjunction Services Limited - India
- Riau Bara Harum - Indonesia
- TeaM Sual Corporation - Philippines
- Planning Commission, India
- Kapuas Tunggal Persada - Indonesia
- Bukit Baiduri Energy - Indonesia
- Indogreen Group - Indonesia
- VISA Power Limited - India
- Global Green Power PLC Corporation, Philippines
- Thiess Contractors Indonesia
- Georgia Ports Authority, United States
- Sojitz Corporation - Japan
- Petrochimia International Co. Ltd.- Taiwan
- Petron Corporation, Philippines
- SMG Consultants - Indonesia
- Aboitiz Power Corporation - Philippines
- Vedanta Resources Plc - India
- Kideco Jaya Agung - Indonesia
- Indonesian Coal Mining Association
- Global Business Power Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Sinarmas Energy and Mining - Indonesia
- Sarangani Energy Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Medco Energi Mining Internasional
- Baramulti Group, Indonesia
- Indian Energy Exchange, India
- PTC India Limited - India
- Timah Investasi Mineral - Indoneisa
- Bayan Resources Tbk. - Indonesia
- Indo Tambangraya Megah - Indonesia
- Siam City Cement - Thailand
- Posco Energy - South Korea
- SMC Global Power, Philippines
- Leighton Contractors Pty Ltd - Australia
- Pendopo Energi Batubara - Indonesia
- Simpson Spence & Young - Indonesia
- Borneo Indobara - Indonesia
- Bhushan Steel Limited - India
- Neyveli Lignite Corporation Ltd, - India
- CIMB Investment Bank - Malaysia
- Kaltim Prima Coal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Anglo American - United Kingdom
- Standard Chartered Bank - UAE
- Dalmia Cement Bharat India
- Gujarat Sidhee Cement - India
- Toyota Tsusho Corporation, Japan
- PNOC Exploration Corporation - Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Xindia Steels Limited - India
- CNBM International Corporation - China
- McConnell Dowell - Australia
- Coalindo Energy - Indonesia
- Port Waratah Coal Services - Australia
- Carbofer General Trading SA - India
- Larsen & Toubro Limited - India
- Bhoruka Overseas - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Aditya Birla Group - India
- Eastern Energy - Thailand
- Rashtriya Ispat Nigam Limited - India
- Thai Mozambique Logistica
- Ministry of Finance - Indonesia
- Gujarat Electricity Regulatory Commission - India
- The University of Queensland
- LBH Netherlands Bv - Netherlands
- Bahari Cakrawala Sebuku - Indonesia
- Ind-Barath Power Infra Limited - India
- Meralco Power Generation, Philippines
- Wilmar Investment Holdings
- Star Paper Mills Limited - India
- Miang Besar Coal Terminal - Indonesia
- ASAPP Information Group - India
- IHS Mccloskey Coal Group - USA
- San Jose City I Power Corp, Philippines
- Independent Power Producers Association of India
- Marubeni Corporation - India
- The Treasury - Australian Government
- Semirara Mining Corp, Philippines
- Madhucon Powers Ltd - India
- Malabar Cements Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Straits Asia Resources Limited - Singapore
- Tata Chemicals Ltd - India
- Energy Development Corp, Philippines
- Chamber of Mines of South Africa
- Krishnapatnam Port Company Ltd. - India
- Sakthi Sugars Limited - India
- Bangladesh Power Developement Board
- GMR Energy Limited - India
- Samtan Co., Ltd - South Korea
- Karbindo Abesyapradhi - Indoneisa
- Interocean Group of Companies - India
- Central Electricity Authority - India
- Semirara Mining and Power Corporation, Philippines
- Cement Manufacturers Association - India
- Orica Mining Services - Indonesia
- Agrawal Coal Company - India
- Barasentosa Lestari - Indonesia
- Electricity Generating Authority of Thailand
- Renaissance Capital - South Africa
- Meenaskhi Energy Private Limited - India
- Savvy Resources Ltd - HongKong
- Bukit Makmur.PT - Indonesia
- Mercuria Energy - Indonesia
- Goldman Sachs - Singapore
- Parliament of New Zealand
- GVK Power & Infra Limited - India
- Kumho Petrochemical, South Korea
- ICICI Bank Limited - India
- Global Coal Blending Company Limited - Australia
- Holcim Trading Pte Ltd - Singapore
- Altura Mining Limited, Indonesia
- Parry Sugars Refinery, India
- Deloitte Consulting - India
- Coastal Gujarat Power Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Jaiprakash Power Ventures ltd
- Commonwealth Bank - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- South Luzon Thermal Energy Corporation
- PetroVietnam Power Coal Import and Supply Company
- Central Java Power - Indonesia
- Globalindo Alam Lestari - Indonesia
- Essar Steel Hazira Ltd - India
- Bulk Trading Sa - Switzerland
- Ministry of Transport, Egypt
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- AsiaOL BioFuels Corp., Philippines
- Directorate Of Revenue Intelligence - India
- Vijayanagar Sugar Pvt Ltd - India
- Africa Commodities Group - South Africa
- Alfred C Toepfer International GmbH - Germany
- Kartika Selabumi Mining - Indonesia
- Karaikal Port Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Electricity Authority, New Zealand
- Sical Logistics Limited - India
- Trasteel International SA, Italy
- Salva Resources Pvt Ltd - India
- Latin American Coal - Colombia
- Coal and Oil Company - UAE
- TNB Fuel Sdn Bhd - Malaysia
- Wood Mackenzie - Singapore
- Heidelberg Cement - Germany
- Kohat Cement Company Ltd. - Pakistan
- Indika Energy - Indonesia
- Mercator Lines Limited - India
- Grasim Industreis Ltd - India
- International Coal Ventures Pvt Ltd - India
- Minerals Council of Australia
- Australian Commodity Traders Exchange
- Economic Council, Georgia
- Manunggal Multi Energi - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Orica Australia Pty. Ltd.
- Rio Tinto Coal - Australia
- Merrill Lynch Commodities Europe
- Bharathi Cement Corporation - India
- Makarim & Taira - Indonesia
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