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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, 28 December 09
SOMALI PIRATES SAY $4 MILLION RANSOM PAID FOR COAL SHIP
A helicopter dropped a $4 million ransom payment on Sunday on to the deck of a Chinese coal ship hijacked by Somali pirates in mid-October, a pirate ...
Saturday, 26 December 09
COAL INDIA, RIO TINTO MAY HOLD TALKS SOON ON TIE-UP
State owned Coal India Limited (CIL), which is in the race for acquisition of overseas coal properties to plug the demand supply shortfall of the dr ...
Saturday, 26 December 09
COKING COAL PRICES MAY RISE BY 10 - 15% FROM APRIL 2010
The price of coking coal, one of the key raw materials for steel production, is likely to increase by 10-15% in next April, the month in which m ...
Saturday, 26 December 09
COAL INDIA SECURES TWO BLOCKS IN MOZAMBIQUE
It's official now. Mozambique has awarded two coal acreages in its Maotize region with an estimated one billion tonne reserves to Coal India Ltd bu ...
Thursday, 24 December 09
DRY BULK CHARTERING - SHIPPING UPDATE
Handy
Continued firm conditions for the Handymax / Supramax market in the Atlantic despite the BSI´s downward trend. As chrs scramble to cov ...
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- ICICI Bank Limited - India
- IEA Clean Coal Centre - UK
- Samtan Co., Ltd - South Korea
- Bhushan Steel Limited - India
- Directorate General of MIneral and Coal - Indonesia
- ASAPP Information Group - India
- Kideco Jaya Agung - Indonesia
- Indonesian Coal Mining Association
- Tamil Nadu electricity Board
- Sinarmas Energy and Mining - Indonesia
- Rio Tinto Coal - Australia
- Meenaskhi Energy Private Limited - India
- Holcim Trading Pte Ltd - Singapore
- Anglo American - United Kingdom
- Global Green Power PLC Corporation, Philippines
- Eastern Energy - Thailand
- Oldendorff Carriers - Singapore
- Bukit Makmur.PT - Indonesia
- SMG Consultants - Indonesia
- Kartika Selabumi Mining - Indonesia
- Global Coal Blending Company Limited - Australia
- Malabar Cements Ltd - India
- Tata Chemicals Ltd - India
- VISA Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- Thai Mozambique Logistica
- Vijayanagar Sugar Pvt Ltd - India
- Planning Commission, India
- SMC Global Power, Philippines
- Electricity Authority, New Zealand
- Merrill Lynch Commodities Europe
- Antam Resourcindo - Indonesia
- Grasim Industreis Ltd - India
- New Zealand Coal & Carbon
- Siam City Cement PLC, Thailand
- AsiaOL BioFuels Corp., Philippines
- Aditya Birla Group - India
- Sakthi Sugars Limited - India
- Sarangani Energy Corporation, Philippines
- Indogreen Group - Indonesia
- Petron Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- PowerSource Philippines DevCo
- Eastern Coal Council - USA
- Ministry of Finance - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- PetroVietnam Power Coal Import and Supply Company
- Timah Investasi Mineral - Indoneisa
- Mercuria Energy - Indonesia
- Central Java Power - Indonesia
- Renaissance Capital - South Africa
- Altura Mining Limited, Indonesia
- Semirara Mining Corp, Philippines
- McConnell Dowell - Australia
- Madhucon Powers Ltd - India
- Attock Cement Pakistan Limited
- LBH Netherlands Bv - Netherlands
- Singapore Mercantile Exchange
- Savvy Resources Ltd - HongKong
- Billiton Holdings Pty Ltd - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Mjunction Services Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The University of Queensland
- Star Paper Mills Limited - India
- Directorate Of Revenue Intelligence - India
- Australian Commodity Traders Exchange
- CIMB Investment Bank - Malaysia
- Port Waratah Coal Services - Australia
- Binh Thuan Hamico - Vietnam
- Barasentosa Lestari - Indonesia
- Coastal Gujarat Power Limited - India
- Indika Energy - Indonesia
- Wood Mackenzie - Singapore
- Interocean Group of Companies - India
- Coal and Oil Company - UAE
- Intertek Mineral Services - Indonesia
- Kaltim Prima Coal - Indonesia
- Bangladesh Power Developement Board
- The Treasury - Australian Government
- OPG Power Generation Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Essar Steel Hazira Ltd - India
- CNBM International Corporation - China
- Iligan Light & Power Inc, Philippines
- Formosa Plastics Group - Taiwan
- Gujarat Electricity Regulatory Commission - India
- Manunggal Multi Energi - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Chamber of Mines of South Africa
- Minerals Council of Australia
- Neyveli Lignite Corporation Ltd, - India
- Lanco Infratech Ltd - India
- Independent Power Producers Association of India
- Electricity Generating Authority of Thailand
- Cement Manufacturers Association - India
- Mintek Dendrill Indonesia
- Romanian Commodities Exchange
- Bhoruka Overseas - Indonesia
- Ind-Barath Power Infra Limited - India
- Krishnapatnam Port Company Ltd. - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- International Coal Ventures Pvt Ltd - India
- Trasteel International SA, Italy
- Larsen & Toubro Limited - India
- Toyota Tsusho Corporation, Japan
- Bayan Resources Tbk. - Indonesia
- Global Business Power Corporation, Philippines
- Power Finance Corporation Ltd., India
- Bharathi Cement Corporation - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Riau Bara Harum - Indonesia
- Marubeni Corporation - India
- Latin American Coal - Colombia
- GAC Shipping (India) Pvt Ltd
- Sojitz Corporation - Japan
- GN Power Mariveles Coal Plant, Philippines
- London Commodity Brokers - England
- Wilmar Investment Holdings
- Vizag Seaport Private Limited - India
- The State Trading Corporation of India Ltd
- PNOC Exploration Corporation - Philippines
- Thiess Contractors Indonesia
- South Luzon Thermal Energy Corporation
- PTC India Limited - India
- MS Steel International - UAE
- Standard Chartered Bank - UAE
- Globalindo Alam Lestari - Indonesia
- Bulk Trading Sa - Switzerland
- Georgia Ports Authority, United States
- Simpson Spence & Young - Indonesia
- Energy Link Ltd, New Zealand
- Ceylon Electricity Board - Sri Lanka
- Kalimantan Lumbung Energi - Indonesia
- Goldman Sachs - Singapore
- Agrawal Coal Company - India
- Ministry of Transport, Egypt
- Gujarat Sidhee Cement - India
- Deloitte Consulting - India
- Uttam Galva Steels Limited - India
- White Energy Company Limited
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Videocon Industries ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Mercator Lines Limited - India
- Economic Council, Georgia
- Central Electricity Authority - India
- Indian Energy Exchange, India
- European Bulk Services B.V. - Netherlands
- Posco Energy - South Korea
- Maheswari Brothers Coal Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- San Jose City I Power Corp, Philippines
- Ambuja Cements Ltd - India
- Medco Energi Mining Internasional
- Aboitiz Power Corporation - Philippines
- Indian Oil Corporation Limited
- Straits Asia Resources Limited - Singapore
- Vedanta Resources Plc - India
- Bukit Baiduri Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Orica Australia Pty. Ltd.
- Heidelberg Cement - Germany
- Kumho Petrochemical, South Korea
- Jaiprakash Power Ventures ltd
- Chettinad Cement Corporation Ltd - India
- Karaikal Port Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Salva Resources Pvt Ltd - India
- Dalmia Cement Bharat India
- Borneo Indobara - Indonesia
- Commonwealth Bank - Australia
- Baramulti Group, Indonesia
- Siam City Cement - Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Edison Trading Spa - Italy
- Xindia Steels Limited - India
- Orica Mining Services - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Gujarat Mineral Development Corp Ltd - India
- Kobexindo Tractors - Indoneisa
- Africa Commodities Group - South Africa
- Kohat Cement Company Ltd. - Pakistan
- Bhatia International Limited - India
- India Bulls Power Limited - India
- Makarim & Taira - Indonesia
- Sindya Power Generating Company Private Ltd
- GVK Power & Infra Limited - India
- Carbofer General Trading SA - India
- Meralco Power Generation, Philippines
- Therma Luzon, Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Bahari Cakrawala Sebuku - Indonesia
- Parry Sugars Refinery, India
- IHS Mccloskey Coal Group - USA
- Ministry of Mines - Canada
- GMR Energy Limited - India
- Jindal Steel & Power Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Price Waterhouse Coopers - Russia
- Alfred C Toepfer International GmbH - Germany
- Metalloyd Limited - United Kingdom
- Energy Development Corp, Philippines
- SN Aboitiz Power Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Jorong Barutama Greston.PT - Indonesia
- Sree Jayajothi Cements Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Australian Coal Association
- Miang Besar Coal Terminal - Indonesia
- Coalindo Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- Parliament of New Zealand
- Sical Logistics Limited - India
- Maharashtra Electricity Regulatory Commission - India
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