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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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Wednesday, 06 January 10
BUMI SHARES UP AS OVERALL PERFORMANCE BEATS PREDICTIONS
The world’s largest thermal coal exporter PT Bumi Resources saw its shares jump 10 percent to Rp 2,675 ($29 US cents) on Tuesday after the com ...
Wednesday, 06 January 10
INDIA MAY HAVE BECOME TOP BUYER OF SOUTH AFRICAN COAL
India may have overtaken Europe for the first time as the biggest purchaser of South African coal in 2009, according to Raymond Chirwa, Richards Bay ...
Wednesday, 06 January 10
COAL PEAK RECEDES INTO THE FAR DISTANCE
COALspot.com (German): Coal will be available to mankind as an energy source for the next 120 years.
The German Coal Importer Association has ca ...
Tuesday, 05 January 10
SUPRAMAX MARKET REMAINED QUIET OVER THE LAST 10 DAYS BRS - DRY BULK
Despite a damp end to the year for bulk rates, shipping has weathered the storm far better than was initially expected in the wake of the financ ...
Tuesday, 05 January 10
WINTER WEATHER SPIKES COAL PRICES - CHINA UPDATE
Cold weather is driving coal prices higher and will lend the advantage in annual negotiations to suppliers, analysts said, predicting that the risin ...
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- Formosa Plastics Group - Taiwan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Salva Resources Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- IEA Clean Coal Centre - UK
- Global Coal Blending Company Limited - Australia
- Coal and Oil Company - UAE
- Thiess Contractors Indonesia
- Aboitiz Power Corporation - Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- LBH Netherlands Bv - Netherlands
- Agrawal Coal Company - India
- Minerals Council of Australia
- Eastern Coal Council - USA
- Sindya Power Generating Company Private Ltd
- Essar Steel Hazira Ltd - India
- Price Waterhouse Coopers - Russia
- Commonwealth Bank - Australia
- Antam Resourcindo - Indonesia
- Vedanta Resources Plc - India
- Mintek Dendrill Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Marubeni Corporation - India
- Power Finance Corporation Ltd., India
- CIMB Investment Bank - Malaysia
- Energy Development Corp, Philippines
- Global Green Power PLC Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Mercator Lines Limited - India
- Central Java Power - Indonesia
- CNBM International Corporation - China
- Kapuas Tunggal Persada - Indonesia
- Orica Mining Services - Indonesia
- Intertek Mineral Services - Indonesia
- Ambuja Cements Ltd - India
- Georgia Ports Authority, United States
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Tata Chemicals Ltd - India
- Bhushan Steel Limited - India
- European Bulk Services B.V. - Netherlands
- Ministry of Transport, Egypt
- Samtan Co., Ltd - South Korea
- Deloitte Consulting - India
- Parliament of New Zealand
- IHS Mccloskey Coal Group - USA
- India Bulls Power Limited - India
- International Coal Ventures Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- TeaM Sual Corporation - Philippines
- Cigading International Bulk Terminal - Indonesia
- Savvy Resources Ltd - HongKong
- Maheswari Brothers Coal Limited - India
- Coastal Gujarat Power Limited - India
- Makarim & Taira - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Binh Thuan Hamico - Vietnam
- Cement Manufacturers Association - India
- Gujarat Mineral Development Corp Ltd - India
- Heidelberg Cement - Germany
- Banpu Public Company Limited - Thailand
- Chamber of Mines of South Africa
- Sinarmas Energy and Mining - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Baramulti Group, Indonesia
- Larsen & Toubro Limited - India
- Altura Mining Limited, Indonesia
- Kepco SPC Power Corporation, Philippines
- Electricity Authority, New Zealand
- Eastern Energy - Thailand
- Manunggal Multi Energi - Indonesia
- Chettinad Cement Corporation Ltd - India
- Pendopo Energi Batubara - Indonesia
- Borneo Indobara - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Economic Council, Georgia
- Kohat Cement Company Ltd. - Pakistan
- Singapore Mercantile Exchange
- McConnell Dowell - Australia
- Semirara Mining Corp, Philippines
- Alfred C Toepfer International GmbH - Germany
- Sree Jayajothi Cements Limited - India
- PNOC Exploration Corporation - Philippines
- Krishnapatnam Port Company Ltd. - India
- Vizag Seaport Private Limited - India
- Attock Cement Pakistan Limited
- Rio Tinto Coal - Australia
- Coalindo Energy - Indonesia
- Siam City Cement PLC, Thailand
- Petron Corporation, Philippines
- SMC Global Power, Philippines
- Edison Trading Spa - Italy
- Siam City Cement - Thailand
- Planning Commission, India
- Billiton Holdings Pty Ltd - Australia
- Kumho Petrochemical, South Korea
- Tamil Nadu electricity Board
- Independent Power Producers Association of India
- Pipit Mutiara Jaya. PT, Indonesia
- Ministry of Finance - Indonesia
- Goldman Sachs - Singapore
- Jaiprakash Power Ventures ltd
- Dalmia Cement Bharat India
- GAC Shipping (India) Pvt Ltd
- Leighton Contractors Pty Ltd - Australia
- Madhucon Powers Ltd - India
- Indonesian Coal Mining Association
- Sical Logistics Limited - India
- Lanco Infratech Ltd - India
- Bukit Makmur.PT - Indonesia
- Videocon Industries ltd - India
- Straits Asia Resources Limited - Singapore
- Star Paper Mills Limited - India
- Bangladesh Power Developement Board
- Kobexindo Tractors - Indoneisa
- New Zealand Coal & Carbon
- Wilmar Investment Holdings
- Australian Commodity Traders Exchange
- Jindal Steel & Power Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Maharashtra Electricity Regulatory Commission - India
- Electricity Generating Authority of Thailand
- Kideco Jaya Agung - Indonesia
- Rashtriya Ispat Nigam Limited - India
- SN Aboitiz Power Inc, Philippines
- Meenaskhi Energy Private Limited - India
- Timah Investasi Mineral - Indoneisa
- Indian Energy Exchange, India
- Iligan Light & Power Inc, Philippines
- Karaikal Port Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Holcim Trading Pte Ltd - Singapore
- Malabar Cements Ltd - India
- SMG Consultants - Indonesia
- Bhoruka Overseas - Indonesia
- Indika Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Ind-Barath Power Infra Limited - India
- Gujarat Sidhee Cement - India
- The University of Queensland
- Interocean Group of Companies - India
- Vijayanagar Sugar Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Australian Coal Association
- Standard Chartered Bank - UAE
- GN Power Mariveles Coal Plant, Philippines
- Bharathi Cement Corporation - India
- Carbofer General Trading SA - India
- GMR Energy Limited - India
- Indogreen Group - Indonesia
- Kartika Selabumi Mining - Indonesia
- ICICI Bank Limited - India
- Therma Luzon, Inc, Philippines
- Mercuria Energy - Indonesia
- Mjunction Services Limited - India
- Medco Energi Mining Internasional
- Oldendorff Carriers - Singapore
- Bayan Resources Tbk. - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- MS Steel International - UAE
- Uttam Galva Steels Limited - India
- Semirara Mining and Power Corporation, Philippines
- ASAPP Information Group - India
- Ministry of Mines - Canada
- Africa Commodities Group - South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Meralco Power Generation, Philippines
- Kaltim Prima Coal - Indonesia
- Central Electricity Authority - India
- Jorong Barutama Greston.PT - Indonesia
- Trasteel International SA, Italy
- GVK Power & Infra Limited - India
- Directorate Of Revenue Intelligence - India
- Global Business Power Corporation, Philippines
- Romanian Commodities Exchange
- OPG Power Generation Pvt Ltd - India
- Parry Sugars Refinery, India
- Sakthi Sugars Limited - India
- White Energy Company Limited
- Directorate General of MIneral and Coal - Indonesia
- South Luzon Thermal Energy Corporation
- Posco Energy - South Korea
- The Treasury - Australian Government
- Aditya Birla Group - India
- Asmin Koalindo Tuhup - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Port Waratah Coal Services - Australia
- Merrill Lynch Commodities Europe
- Renaissance Capital - South Africa
- Sojitz Corporation - Japan
- Orica Australia Pty. Ltd.
- PTC India Limited - India
- Metalloyd Limited - United Kingdom
- Bulk Trading Sa - Switzerland
- AsiaOL BioFuels Corp., Philippines
- San Jose City I Power Corp, Philippines
- Bhatia International Limited - India
- Anglo American - United Kingdom
- Barasentosa Lestari - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Grasim Industreis Ltd - India
- Energy Link Ltd, New Zealand
- Bukit Baiduri Energy - Indonesia
- Thai Mozambique Logistica
- PowerSource Philippines DevCo
- Latin American Coal - Colombia
- Gujarat Electricity Regulatory Commission - India
- VISA Power Limited - India
- Toyota Tsusho Corporation, Japan
- Wood Mackenzie - Singapore
- Simpson Spence & Young - Indonesia
- Xindia Steels Limited - India
- London Commodity Brokers - England
- Riau Bara Harum - Indonesia
- Sarangani Energy Corporation, Philippines
- Indian Oil Corporation Limited
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