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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, 04 November 09
BINANI HOPES TO BUY INDONESIAN COAL MINE IN 2-3 MONTHS
"We are still negotiating, but hope to conclude the deal in the next two to three months," Binani Cement Managing Director Vinod Juneja to ...
Tuesday, 03 November 09
CHINA TO BE NET COAL IMPORTER IN 2009
China is accelerating its importation of coal to cope with fallen output caused by the consolidation of small coalmines, and is likely to become a n ...
Monday, 02 November 09
RIO TINTO WARNS ON CHEAP MONGOLIAN COAL
The Age reported that, Mining giant Rio Tinto has warned that cheap coal from Mongolia as well as congestion at the Port of Newcastle in NSW could u ...
Monday, 02 November 09
ESSAR SEEKS COAL ASSETS IN SOUTH AFRICA
Paguntaka reported that, Essar Group plans to acquire coal assets in South Africa to help boost its power business in India. A senior executive of E ...
Sunday, 01 November 09
MINES REGULATION AMENDMENT BILL TO BE TABLED IN PARLIAMENT
Thaindia News reported that, A bill seeking to amend the Mines and Minerals Development Regulation Act, 1957, will be introduced in the winter sessi ...
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- Jorong Barutama Greston.PT - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- The University of Queensland
- Cigading International Bulk Terminal - Indonesia
- Bulk Trading Sa - Switzerland
- Eastern Coal Council - USA
- Indian Energy Exchange, India
- Grasim Industreis Ltd - India
- Directorate Of Revenue Intelligence - India
- Merrill Lynch Commodities Europe
- Mercuria Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Larsen & Toubro Limited - India
- Orica Mining Services - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Intertek Mineral Services - Indonesia
- OPG Power Generation Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- GVK Power & Infra Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Power Finance Corporation Ltd., India
- Bank of Tokyo Mitsubishi UFJ Ltd
- ICICI Bank Limited - India
- Miang Besar Coal Terminal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Vedanta Resources Plc - India
- European Bulk Services B.V. - Netherlands
- Pipit Mutiara Jaya. PT, Indonesia
- VISA Power Limited - India
- Ceylon Electricity Board - Sri Lanka
- Electricity Authority, New Zealand
- Attock Cement Pakistan Limited
- Indogreen Group - Indonesia
- GAC Shipping (India) Pvt Ltd
- Ministry of Transport, Egypt
- Semirara Mining and Power Corporation, Philippines
- Mjunction Services Limited - India
- Formosa Plastics Group - Taiwan
- Jindal Steel & Power Ltd - India
- Bhatia International Limited - India
- Simpson Spence & Young - Indonesia
- Bayan Resources Tbk. - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- SMG Consultants - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Semirara Mining Corp, Philippines
- Sakthi Sugars Limited - India
- Uttam Galva Steels Limited - India
- Bhushan Steel Limited - India
- Bukit Baiduri Energy - Indonesia
- Sical Logistics Limited - India
- Therma Luzon, Inc, Philippines
- Indian Oil Corporation Limited
- Baramulti Group, Indonesia
- Wood Mackenzie - Singapore
- Indonesian Coal Mining Association
- Bahari Cakrawala Sebuku - Indonesia
- Bukit Makmur.PT - Indonesia
- Antam Resourcindo - Indonesia
- TeaM Sual Corporation - Philippines
- Australian Coal Association
- Singapore Mercantile Exchange
- Toyota Tsusho Corporation, Japan
- Samtan Co., Ltd - South Korea
- Xindia Steels Limited - India
- Manunggal Multi Energi - Indonesia
- Savvy Resources Ltd - HongKong
- Madhucon Powers Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Global Coal Blending Company Limited - Australia
- Interocean Group of Companies - India
- Kobexindo Tractors - Indoneisa
- Lanco Infratech Ltd - India
- Parry Sugars Refinery, India
- Central Electricity Authority - India
- Meenaskhi Energy Private Limited - India
- Goldman Sachs - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Oldendorff Carriers - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Aboitiz Power Corporation - Philippines
- Electricity Generating Authority of Thailand
- Romanian Commodities Exchange
- Bukit Asam (Persero) Tbk - Indonesia
- Kumho Petrochemical, South Korea
- Sinarmas Energy and Mining - Indonesia
- Trasteel International SA, Italy
- Krishnapatnam Port Company Ltd. - India
- Cement Manufacturers Association - India
- Binh Thuan Hamico - Vietnam
- Ministry of Mines - Canada
- Orica Australia Pty. Ltd.
- IHS Mccloskey Coal Group - USA
- LBH Netherlands Bv - Netherlands
- Jaiprakash Power Ventures ltd
- Coalindo Energy - Indonesia
- Dalmia Cement Bharat India
- GMR Energy Limited - India
- Energy Development Corp, Philippines
- SN Aboitiz Power Inc, Philippines
- Makarim & Taira - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Star Paper Mills Limited - India
- Bharathi Cement Corporation - India
- Carbofer General Trading SA - India
- Rio Tinto Coal - Australia
- Metalloyd Limited - United Kingdom
- Alfred C Toepfer International GmbH - Germany
- Sojitz Corporation - Japan
- Sree Jayajothi Cements Limited - India
- Tata Chemicals Ltd - India
- Mintek Dendrill Indonesia
- India Bulls Power Limited - India
- Siam City Cement PLC, Thailand
- Posco Energy - South Korea
- Kaltim Prima Coal - Indonesia
- Price Waterhouse Coopers - Russia
- The Treasury - Australian Government
- Chettinad Cement Corporation Ltd - India
- Heidelberg Cement - Germany
- Economic Council, Georgia
- Indika Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Australian Commodity Traders Exchange
- South Luzon Thermal Energy Corporation
- Latin American Coal - Colombia
- Coastal Gujarat Power Limited - India
- Ministry of Finance - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Commonwealth Bank - Australia
- CIMB Investment Bank - Malaysia
- Altura Mining Limited, Indonesia
- Salva Resources Pvt Ltd - India
- White Energy Company Limited
- International Coal Ventures Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Anglo American - United Kingdom
- Energy Link Ltd, New Zealand
- Aditya Birla Group - India
- CNBM International Corporation - China
- Agrawal Coal Company - India
- Georgia Ports Authority, United States
- PowerSource Philippines DevCo
- Tamil Nadu electricity Board
- Neyveli Lignite Corporation Ltd, - India
- Minerals Council of Australia
- Petron Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Bangladesh Power Developement Board
- Port Waratah Coal Services - Australia
- Essar Steel Hazira Ltd - India
- Parliament of New Zealand
- Thiess Contractors Indonesia
- Holcim Trading Pte Ltd - Singapore
- Barasentosa Lestari - Indonesia
- Africa Commodities Group - South Africa
- Borneo Indobara - Indonesia
- Banpu Public Company Limited - Thailand
- AsiaOL BioFuels Corp., Philippines
- The State Trading Corporation of India Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Asmin Koalindo Tuhup - Indonesia
- PTC India Limited - India
- Maheswari Brothers Coal Limited - India
- SMC Global Power, Philippines
- Kideco Jaya Agung - Indonesia
- Mercator Lines Limited - India
- Kepco SPC Power Corporation, Philippines
- Thai Mozambique Logistica
- London Commodity Brokers - England
- Gujarat Electricity Regulatory Commission - India
- ASAPP Information Group - India
- Billiton Holdings Pty Ltd - Australia
- Standard Chartered Bank - UAE
- Leighton Contractors Pty Ltd - Australia
- Edison Trading Spa - Italy
- Global Business Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Global Green Power PLC Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- New Zealand Coal & Carbon
- Indo Tambangraya Megah - Indonesia
- Planning Commission, India
- Straits Asia Resources Limited - Singapore
- Globalindo Alam Lestari - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- McConnell Dowell - Australia
- MS Steel International - UAE
- Wilmar Investment Holdings
- Ambuja Cements Ltd - India
- Marubeni Corporation - India
- Deloitte Consulting - India
- Riau Bara Harum - Indonesia
- Medco Energi Mining Internasional
- Videocon Industries ltd - India
- Independent Power Producers Association of India
- Sindya Power Generating Company Private Ltd
- Coal and Oil Company - UAE
- Meralco Power Generation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Central Java Power - Indonesia
- San Jose City I Power Corp, Philippines
- Ind-Barath Power Infra Limited - India
- IEA Clean Coal Centre - UK
- Malabar Cements Ltd - India
- Vizag Seaport Private Limited - India
- Rashtriya Ispat Nigam Limited - India
- Sarangani Energy Corporation, Philippines
- Chamber of Mines of South Africa
- Eastern Energy - Thailand
- Siam City Cement - Thailand
- Renaissance Capital - South Africa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Pendopo Energi Batubara - Indonesia
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