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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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Monday, 15 February 10
INDONESIA IN TALKS TO RESOLVE BANPU MINE CLOSURE
Indonesia is seeking to resolve a land permiting problem resulting in the closure of a coal mine in Kalimantan operated by a unit of Thailand's top ...
Monday, 15 February 10
PVT ENTRY IN COAL MINING TO BE DELAYED
Entry of private players in coal mining will be delayed. Contrary to expectations, the coal ministry will not move in the Budget session a bill that ...
Sunday, 14 February 10
NEWCASTLE STEAM COAL TRADES AT US$ 91 TO US$ 92
Reuters reported that prompt cargo prices for coal delivered into Europe were largely unchanged recently after a day of subdued trading.
European ...
Saturday, 13 February 10
THE FREIGHT MARKET CONTINUED TO BE WEAK THIS WEEK - CAPT. REDDY
COALspot.com (Singapore): The freight market continued to be weak this week. There have been quite a few spot vessels open Far east and have been fo ...
Saturday, 13 February 10
INDONESIA ISSUES NEW MINING REGULATIONS
Indonesia has issued two new regulations under its mining law to allow firms to start obtaining mining permits, in a move that should increase certa ...
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- London Commodity Brokers - England
- Savvy Resources Ltd - HongKong
- Standard Chartered Bank - UAE
- Minerals Council of Australia
- Bhoruka Overseas - Indonesia
- Global Business Power Corporation, Philippines
- Ministry of Mines - Canada
- Sakthi Sugars Limited - India
- Iligan Light & Power Inc, Philippines
- TeaM Sual Corporation - Philippines
- Bangladesh Power Developement Board
- Global Green Power PLC Corporation, Philippines
- Energy Development Corp, Philippines
- Electricity Generating Authority of Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Maheswari Brothers Coal Limited - India
- Miang Besar Coal Terminal - Indonesia
- Eastern Energy - Thailand
- CIMB Investment Bank - Malaysia
- IEA Clean Coal Centre - UK
- Gujarat Electricity Regulatory Commission - India
- IHS Mccloskey Coal Group - USA
- Toyota Tsusho Corporation, Japan
- Parliament of New Zealand
- Orica Australia Pty. Ltd.
- Interocean Group of Companies - India
- Carbofer General Trading SA - India
- Coal and Oil Company - UAE
- Aditya Birla Group - India
- PTC India Limited - India
- Oldendorff Carriers - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Sical Logistics Limited - India
- Indika Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Metalloyd Limited - United Kingdom
- Salva Resources Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- New Zealand Coal & Carbon
- Romanian Commodities Exchange
- Grasim Industreis Ltd - India
- The Treasury - Australian Government
- Rio Tinto Coal - Australia
- Lanco Infratech Ltd - India
- PowerSource Philippines DevCo
- CNBM International Corporation - China
- Ambuja Cements Ltd - India
- Simpson Spence & Young - Indonesia
- Planning Commission, India
- Pendopo Energi Batubara - Indonesia
- Parry Sugars Refinery, India
- Economic Council, Georgia
- Gujarat Mineral Development Corp Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Bahari Cakrawala Sebuku - Indonesia
- Borneo Indobara - Indonesia
- Antam Resourcindo - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kalimantan Lumbung Energi - Indonesia
- Indo Tambangraya Megah - Indonesia
- ICICI Bank Limited - India
- Timah Investasi Mineral - Indoneisa
- South Luzon Thermal Energy Corporation
- India Bulls Power Limited - India
- Samtan Co., Ltd - South Korea
- Therma Luzon, Inc, Philippines
- VISA Power Limited - India
- SN Aboitiz Power Inc, Philippines
- Renaissance Capital - South Africa
- Coastal Gujarat Power Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Meralco Power Generation, Philippines
- Central Java Power - Indonesia
- Sojitz Corporation - Japan
- Maharashtra Electricity Regulatory Commission - India
- ASAPP Information Group - India
- Bharathi Cement Corporation - India
- GMR Energy Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ministry of Transport, Egypt
- Attock Cement Pakistan Limited
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Kartika Selabumi Mining - Indonesia
- The State Trading Corporation of India Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Xindia Steels Limited - India
- Agrawal Coal Company - India
- Semirara Mining and Power Corporation, Philippines
- Indian Energy Exchange, India
- Georgia Ports Authority, United States
- Bhatia International Limited - India
- Mercuria Energy - Indonesia
- The University of Queensland
- Mjunction Services Limited - India
- Latin American Coal - Colombia
- SMC Global Power, Philippines
- Sree Jayajothi Cements Limited - India
- Indonesian Coal Mining Association
- Australian Commodity Traders Exchange
- Jorong Barutama Greston.PT - Indonesia
- AsiaOL BioFuels Corp., Philippines
- MS Steel International - UAE
- Uttam Galva Steels Limited - India
- Jindal Steel & Power Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Kumho Petrochemical, South Korea
- Krishnapatnam Port Company Ltd. - India
- Deloitte Consulting - India
- Goldman Sachs - Singapore
- Bukit Baiduri Energy - Indonesia
- Intertek Mineral Services - Indonesia
- Makarim & Taira - Indonesia
- Commonwealth Bank - Australia
- Semirara Mining Corp, Philippines
- Australian Coal Association
- Siam City Cement PLC, Thailand
- SMG Consultants - Indonesia
- Power Finance Corporation Ltd., India
- Malabar Cements Ltd - India
- Marubeni Corporation - India
- Billiton Holdings Pty Ltd - Australia
- Directorate Of Revenue Intelligence - India
- Cement Manufacturers Association - India
- Vedanta Resources Plc - India
- Jaiprakash Power Ventures ltd
- Videocon Industries ltd - India
- Binh Thuan Hamico - Vietnam
- Ministry of Finance - Indonesia
- McConnell Dowell - Australia
- Directorate General of MIneral and Coal - Indonesia
- Wood Mackenzie - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Karaikal Port Pvt Ltd - India
- Heidelberg Cement - Germany
- Thai Mozambique Logistica
- Formosa Plastics Group - Taiwan
- Kapuas Tunggal Persada - Indonesia
- Bukit Makmur.PT - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Mintek Dendrill Indonesia
- Medco Energi Mining Internasional
- Pipit Mutiara Jaya. PT, Indonesia
- PNOC Exploration Corporation - Philippines
- Kohat Cement Company Ltd. - Pakistan
- Mercator Lines Limited - India
- OPG Power Generation Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Electricity Authority, New Zealand
- Larsen & Toubro Limited - India
- GVK Power & Infra Limited - India
- Straits Asia Resources Limited - Singapore
- Anglo American - United Kingdom
- Energy Link Ltd, New Zealand
- Vizag Seaport Private Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Wilmar Investment Holdings
- Ind-Barath Power Infra Limited - India
- Manunggal Multi Energi - Indonesia
- Posco Energy - South Korea
- Chamber of Mines of South Africa
- Coalindo Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Globalindo Alam Lestari - Indonesia
- Bayan Resources Tbk. - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Bhushan Steel Limited - India
- International Coal Ventures Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Indogreen Group - Indonesia
- Gujarat Sidhee Cement - India
- Tata Chemicals Ltd - India
- Altura Mining Limited, Indonesia
- Independent Power Producers Association of India
- Dalmia Cement Bharat India
- Edison Trading Spa - Italy
- Orica Mining Services - Indonesia
- Indian Oil Corporation Limited
- Riau Bara Harum - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Siam City Cement - Thailand
- San Jose City I Power Corp, Philippines
- Tamil Nadu electricity Board
- European Bulk Services B.V. - Netherlands
- Aboitiz Power Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Eastern Coal Council - USA
- Sinarmas Energy and Mining - Indonesia
- Petron Corporation, Philippines
- Trasteel International SA, Italy
- Essar Steel Hazira Ltd - India
- White Energy Company Limited
- Holcim Trading Pte Ltd - Singapore
- Thiess Contractors Indonesia
- Price Waterhouse Coopers - Russia
- Central Electricity Authority - India
- Kaltim Prima Coal - Indonesia
- Madhucon Powers Ltd - India
- Barasentosa Lestari - Indonesia
- Star Paper Mills Limited - India
- Singapore Mercantile Exchange
- GN Power Mariveles Coal Plant, Philippines
- Banpu Public Company Limited - Thailand
- Chettinad Cement Corporation Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Africa Commodities Group - South Africa
- Bulk Trading Sa - Switzerland
- Sindya Power Generating Company Private Ltd
- Baramulti Group, Indonesia
- Kideco Jaya Agung - Indonesia
- Sarangani Energy Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- LBH Netherlands Bv - Netherlands
- Kepco SPC Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
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