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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, 25 November 09
NAPOCOR SCRAPS AWARD OF 715,000 TONS COAL
Top Philippine electricity producer National Power Corp. (Napocor) said on Wednesday it had cancelled plans to award 715,000 tons in coal supply con ...
Wednesday, 25 November 09
RISING FREIGHT RATES HIT COAL IMPORTERS
While state-owned NTPC’s 12.5 million tonne coal import order may have been aimed at plugging the shortage of coal at its thermal power plants ...
Wednesday, 25 November 09
CSN TO BUY RIVERSDALE STAKE TO BOOST COAL SUPPLIES
Cia. Siderurgica Nacional SA plans to buy 16.3 percent of Australian coal-exploration company Riversdale Mining Ltd. for about A$190.5 million ($175 ...
Tuesday, 24 November 09
ICRA DOWNGRADES TNPL`S RATING TO LAA
Credit rating agency, ICRA has revised the long term rating for the Rs 11.25 billion long-term fund-based bank facilities and Rs 1.5 billion non-con ...
Monday, 23 November 09
INDONESIA MINING RULE THREATENS INVESTMENT DRIVE
A new Indonesian mining rule, limiting contract work that can be outsourced and favouring local players, is shaping up as a new blow to plans ...
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- Vedanta Resources Plc - India
- Bayan Resources Tbk. - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- PNOC Exploration Corporation - Philippines
- Singapore Mercantile Exchange
- South Luzon Thermal Energy Corporation
- Attock Cement Pakistan Limited
- Global Coal Blending Company Limited - Australia
- Kideco Jaya Agung - Indonesia
- Global Business Power Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Manunggal Multi Energi - Indonesia
- GVK Power & Infra Limited - India
- PowerSource Philippines DevCo
- San Jose City I Power Corp, Philippines
- Makarim & Taira - Indonesia
- Mjunction Services Limited - India
- Interocean Group of Companies - India
- LBH Netherlands Bv - Netherlands
- Directorate Of Revenue Intelligence - India
- Barasentosa Lestari - Indonesia
- Formosa Plastics Group - Taiwan
- Altura Mining Limited, Indonesia
- Semirara Mining and Power Corporation, Philippines
- Dalmia Cement Bharat India
- Cement Manufacturers Association - India
- Thiess Contractors Indonesia
- Gujarat Mineral Development Corp Ltd - India
- GAC Shipping (India) Pvt Ltd
- Economic Council, Georgia
- PTC India Limited - India
- Sakthi Sugars Limited - India
- Wood Mackenzie - Singapore
- Anglo American - United Kingdom
- Iligan Light & Power Inc, Philippines
- Planning Commission, India
- Siam City Cement - Thailand
- OPG Power Generation Pvt Ltd - India
- Renaissance Capital - South Africa
- Ind-Barath Power Infra Limited - India
- Bukit Makmur.PT - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sarangani Energy Corporation, Philippines
- Savvy Resources Ltd - HongKong
- White Energy Company Limited
- TeaM Sual Corporation - Philippines
- Vizag Seaport Private Limited - India
- Carbofer General Trading SA - India
- Rio Tinto Coal - Australia
- Energy Link Ltd, New Zealand
- Semirara Mining Corp, Philippines
- Global Green Power PLC Corporation, Philippines
- New Zealand Coal & Carbon
- Jaiprakash Power Ventures ltd
- Indian Oil Corporation Limited
- Eastern Coal Council - USA
- Australian Coal Association
- Port Waratah Coal Services - Australia
- Ambuja Cements Ltd - India
- Malabar Cements Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- The Treasury - Australian Government
- Latin American Coal - Colombia
- Ministry of Transport, Egypt
- Alfred C Toepfer International GmbH - Germany
- Merrill Lynch Commodities Europe
- Coal and Oil Company - UAE
- Tamil Nadu electricity Board
- The University of Queensland
- Indonesian Coal Mining Association
- McConnell Dowell - Australia
- Orica Australia Pty. Ltd.
- Gujarat Electricity Regulatory Commission - India
- Kepco SPC Power Corporation, Philippines
- Simpson Spence & Young - Indonesia
- GMR Energy Limited - India
- Billiton Holdings Pty Ltd - Australia
- VISA Power Limited - India
- Marubeni Corporation - India
- Jorong Barutama Greston.PT - Indonesia
- Petron Corporation, Philippines
- Riau Bara Harum - Indonesia
- Trasteel International SA, Italy
- Heidelberg Cement - Germany
- Kaltim Prima Coal - Indonesia
- Maheswari Brothers Coal Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Timah Investasi Mineral - Indoneisa
- Price Waterhouse Coopers - Russia
- Bharathi Cement Corporation - India
- Grasim Industreis Ltd - India
- Sojitz Corporation - Japan
- Straits Asia Resources Limited - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Standard Chartered Bank - UAE
- Binh Thuan Hamico - Vietnam
- London Commodity Brokers - England
- SN Aboitiz Power Inc, Philippines
- Meenaskhi Energy Private Limited - India
- IHS Mccloskey Coal Group - USA
- Petrochimia International Co. Ltd.- Taiwan
- Indika Energy - Indonesia
- Indogreen Group - Indonesia
- Salva Resources Pvt Ltd - India
- Xindia Steels Limited - India
- Gujarat Sidhee Cement - India
- Medco Energi Mining Internasional
- Videocon Industries ltd - India
- Karaikal Port Pvt Ltd - India
- Chamber of Mines of South Africa
- Lanco Infratech Ltd - India
- Georgia Ports Authority, United States
- AsiaOL BioFuels Corp., Philippines
- Energy Development Corp, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Sinarmas Energy and Mining - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Agrawal Coal Company - India
- Uttam Galva Steels Limited - India
- Antam Resourcindo - Indonesia
- Borneo Indobara - Indonesia
- IEA Clean Coal Centre - UK
- Directorate General of MIneral and Coal - Indonesia
- Oldendorff Carriers - Singapore
- Indian Energy Exchange, India
- Bhoruka Overseas - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Intertek Mineral Services - Indonesia
- European Bulk Services B.V. - Netherlands
- Sical Logistics Limited - India
- SMC Global Power, Philippines
- Kobexindo Tractors - Indoneisa
- GN Power Mariveles Coal Plant, Philippines
- Rashtriya Ispat Nigam Limited - India
- Holcim Trading Pte Ltd - Singapore
- Krishnapatnam Port Company Ltd. - India
- ASAPP Information Group - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Thai Mozambique Logistica
- Ceylon Electricity Board - Sri Lanka
- India Bulls Power Limited - India
- Coalindo Energy - Indonesia
- Bukit Baiduri Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Pendopo Energi Batubara - Indonesia
- Goldman Sachs - Singapore
- CIMB Investment Bank - Malaysia
- Indo Tambangraya Megah - Indonesia
- Therma Luzon, Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Power Finance Corporation Ltd., India
- Australian Commodity Traders Exchange
- Maharashtra Electricity Regulatory Commission - India
- Kartika Selabumi Mining - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Romanian Commodities Exchange
- MS Steel International - UAE
- Central Electricity Authority - India
- Commonwealth Bank - Australia
- Kumho Petrochemical, South Korea
- Bangladesh Power Developement Board
- CNBM International Corporation - China
- Leighton Contractors Pty Ltd - Australia
- ICICI Bank Limited - India
- International Coal Ventures Pvt Ltd - India
- Africa Commodities Group - South Africa
- Bukit Asam (Persero) Tbk - Indonesia
- Electricity Generating Authority of Thailand
- The State Trading Corporation of India Ltd
- Aditya Birla Group - India
- Asmin Koalindo Tuhup - Indonesia
- Samtan Co., Ltd - South Korea
- Central Java Power - Indonesia
- Ministry of Mines - Canada
- Metalloyd Limited - United Kingdom
- Deloitte Consulting - India
- Kohat Cement Company Ltd. - Pakistan
- Orica Mining Services - Indonesia
- Bulk Trading Sa - Switzerland
- Siam City Cement PLC, Thailand
- Baramulti Group, Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Electricity Authority, New Zealand
- Posco Energy - South Korea
- Banpu Public Company Limited - Thailand
- Ministry of Finance - Indonesia
- Meralco Power Generation, Philippines
- Mercator Lines Limited - India
- SMG Consultants - Indonesia
- Globalindo Alam Lestari - Indonesia
- Toyota Tsusho Corporation, Japan
- Bhushan Steel Limited - India
- Tata Chemicals Ltd - India
- Independent Power Producers Association of India
- Sree Jayajothi Cements Limited - India
- Edison Trading Spa - Italy
- Larsen & Toubro Limited - India
- Kapuas Tunggal Persada - Indonesia
- Wilmar Investment Holdings
- Mintek Dendrill Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Chettinad Cement Corporation Ltd - India
- Minerals Council of Australia
- Star Paper Mills Limited - India
- Aboitiz Power Corporation - Philippines
- Eastern Energy - Thailand
- Bhatia International Limited - India
- Essar Steel Hazira Ltd - India
- Coastal Gujarat Power Limited - India
- Parliament of New Zealand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Jindal Steel & Power Ltd - India
- Madhucon Powers Ltd - India
- Parry Sugars Refinery, India
- Mercuria Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
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