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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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Tuesday, 19 January 10
COAL FOR DOMESTIC USERS
While the government is already almost a year behind schedule in issuing regulations to implement the new mining law, mineral producers have been&nb ...
Tuesday, 19 January 10
RISING DEMAND FROM POWER FIRMS TO PUSH COAL PRICES
The resurgence of the Chinese economy, along with harsh winter conditions across the country, is likely to push coal prices up in the short term. In ...
Tuesday, 19 January 10
ESSAR'S MEGA ACQUISITION PLANS
India’s Essar Group has carved a mega plan that includes a slew of acquisitions and investments in assets across various businesses. CNBC-TV18 ...
Monday, 18 January 10
INDONESIA SHIPPED 15.90 PERCENT OF TOTAL COAL EXPORTS IN 2009 TO INDIA
COALspot.com (Indonesia): Indonesia, the world largest coal exporter, exported 19.07 percent of the total coal export in 2009 to China and 15. ...
Monday, 18 January 10
BHP TO SPEND $267 MILLION ON QUEENSLAND COKING COAL
BHP Billiton Ltd, the world’s largest mining company, will spend $267 million to accelerate development of the Caval Ridge mine and the Hay Po ...
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- Energy Link Ltd, New Zealand
- Iligan Light & Power Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Billiton Holdings Pty Ltd - Australia
- Samtan Co., Ltd - South Korea
- Mercator Lines Limited - India
- Xindia Steels Limited - India
- Bharathi Cement Corporation - India
- Siam City Cement - Thailand
- Ministry of Finance - Indonesia
- Marubeni Corporation - India
- Medco Energi Mining Internasional
- Semirara Mining Corp, Philippines
- London Commodity Brokers - England
- Bayan Resources Tbk. - Indonesia
- Kartika Selabumi Mining - Indonesia
- Global Green Power PLC Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Bhoruka Overseas - Indonesia
- Indian Oil Corporation Limited
- Bulk Trading Sa - Switzerland
- Goldman Sachs - Singapore
- IEA Clean Coal Centre - UK
- Meenaskhi Energy Private Limited - India
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- AsiaOL BioFuels Corp., Philippines
- White Energy Company Limited
- Price Waterhouse Coopers - Russia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- CNBM International Corporation - China
- TeaM Sual Corporation - Philippines
- Kaltim Prima Coal - Indonesia
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- Ministry of Mines - Canada
- Deloitte Consulting - India
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- Gujarat Sidhee Cement - India
- PNOC Exploration Corporation - Philippines
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- Parliament of New Zealand
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- Therma Luzon, Inc, Philippines
- Australian Coal Association
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- Alfred C Toepfer International GmbH - Germany
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- Thiess Contractors Indonesia
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- Semirara Mining and Power Corporation, Philippines
- Sical Logistics Limited - India
- Planning Commission, India
- McConnell Dowell - Australia
- Timah Investasi Mineral - Indoneisa
- GAC Shipping (India) Pvt Ltd
- Posco Energy - South Korea
- Leighton Contractors Pty Ltd - Australia
- Larsen & Toubro Limited - India
- Orica Australia Pty. Ltd.
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- New Zealand Coal & Carbon
- Gujarat Mineral Development Corp Ltd - India
- Sarangani Energy Corporation, Philippines
- South Luzon Thermal Energy Corporation
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- Maheswari Brothers Coal Limited - India
- ASAPP Information Group - India
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- Vedanta Resources Plc - India
- Australian Commodity Traders Exchange
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- Thai Mozambique Logistica
- San Jose City I Power Corp, Philippines
- Kobexindo Tractors - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- Directorate General of MIneral and Coal - Indonesia
- Attock Cement Pakistan Limited
- Maharashtra Electricity Regulatory Commission - India
- Madhucon Powers Ltd - India
- Trasteel International SA, Italy
- Malabar Cements Ltd - India
- Globalindo Alam Lestari - Indonesia
- Indo Tambangraya Megah - Indonesia
- Ind-Barath Power Infra Limited - India
- Indonesian Coal Mining Association
- Economic Council, Georgia
- Oldendorff Carriers - Singapore
- SMG Consultants - Indonesia
- Africa Commodities Group - South Africa
- PTC India Limited - India
- Miang Besar Coal Terminal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- The University of Queensland
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- Kumho Petrochemical, South Korea
- Wilmar Investment Holdings
- Bhushan Steel Limited - India
- International Coal Ventures Pvt Ltd - India
- The Treasury - Australian Government
- Bukit Baiduri Energy - Indonesia
- Grasim Industreis Ltd - India
- Eastern Energy - Thailand
- VISA Power Limited - India
- Mjunction Services Limited - India
- Dalmia Cement Bharat India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- India Bulls Power Limited - India
- Electricity Generating Authority of Thailand
- IHS Mccloskey Coal Group - USA
- Asmin Koalindo Tuhup - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Global Coal Blending Company Limited - Australia
- Energy Development Corp, Philippines
- Orica Mining Services - Indonesia
- Lanco Infratech Ltd - India
- Ministry of Transport, Egypt
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- Intertek Mineral Services - Indonesia
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- Bank of Tokyo Mitsubishi UFJ Ltd
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- Georgia Ports Authority, United States
- Bhatia International Limited - India
- Borneo Indobara - Indonesia
- Coalindo Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Bahari Cakrawala Sebuku - Indonesia
- ICICI Bank Limited - India
- Romanian Commodities Exchange
- Riau Bara Harum - Indonesia
- Metalloyd Limited - United Kingdom
- SMC Global Power, Philippines
- Minerals Council of Australia
- Ambuja Cements Ltd - India
- Formosa Plastics Group - Taiwan
- Bukit Makmur.PT - Indonesia
- The State Trading Corporation of India Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Binh Thuan Hamico - Vietnam
- Savvy Resources Ltd - HongKong
- Indogreen Group - Indonesia
- PowerSource Philippines DevCo
- Renaissance Capital - South Africa
- Tata Chemicals Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Jaiprakash Power Ventures ltd
- Altura Mining Limited, Indonesia
- Eastern Coal Council - USA
- Manunggal Multi Energi - Indonesia
- Chettinad Cement Corporation Ltd - India
- Indika Energy - Indonesia
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- Offshore Bulk Terminal Pte Ltd, Singapore
- Siam City Cement PLC, Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Wood Mackenzie - Singapore
- Krishnapatnam Port Company Ltd. - India
- Baramulti Group, Indonesia
- Carbofer General Trading SA - India
- Neyveli Lignite Corporation Ltd, - India
- Kideco Jaya Agung - Indonesia
- LBH Netherlands Bv - Netherlands
- Tamil Nadu electricity Board
- Sojitz Corporation - Japan
- Coal and Oil Company - UAE
- Merrill Lynch Commodities Europe
- Interocean Group of Companies - India
- Indian Energy Exchange, India
- GN Power Mariveles Coal Plant, Philippines
- Makarim & Taira - Indonesia
- Antam Resourcindo - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Sree Jayajothi Cements Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Electricity Authority, New Zealand
- Chamber of Mines of South Africa
- OPG Power Generation Pvt Ltd - India
- Independent Power Producers Association of India
- Standard Chartered Bank - UAE
- Karbindo Abesyapradhi - Indoneisa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Essar Steel Hazira Ltd - India
- Pendopo Energi Batubara - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
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- Mintek Dendrill Indonesia
- Bangladesh Power Developement Board
- MS Steel International - UAE
- Global Business Power Corporation, Philippines
- Mercuria Energy - Indonesia
- Jindal Steel & Power Ltd - India
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