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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, 30 September 09
COKING COAL PRICES MAY TOUCH $200/TN IN 2010-11
Business Standard reported that, Driven by surge in imports of coking coal by China, growth in Japanese steel output and signs of recovery in the In ...
Wednesday, 30 September 09
PURNOMO BIDS 'GOODBYE' TO ENERGY MINISTRY
The Jakarta globe reported that, In what could be construed as a resignation speech from a government official — but perhaps wasn’t &mda ...
Tuesday, 29 September 09
MINING AND ENERGY DAY 2009
The Minister of Energy and Mineral Resources, Purnomo Yusgiantoro led the ceremony marking 2009 Mining and Energy Day celebrations, held at the Depa ...
Tuesday, 29 September 09
BUKIT ASAM REDUCES ITS SALES TARGET
Tempo Interactive reported that, PT Tambang Batubara Bukit Asam Tbk has decided to reduce its sales target this year from 14.5 million tons of coal ...
Monday, 28 September 09
INDONESIA UNLIKELY TO PASS NEW MINING RULES IN 2009
Reuters reported that, Indonesia is unlikely to complete final regulations attached to a new mining and coal law this year, an official said on Mond ...
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- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Pendopo Energi Batubara - Indonesia
- Wood Mackenzie - Singapore
- Iligan Light & Power Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- IEA Clean Coal Centre - UK
- OPG Power Generation Pvt Ltd - India
- McConnell Dowell - Australia
- Cigading International Bulk Terminal - Indonesia
- Kideco Jaya Agung - Indonesia
- Lanco Infratech Ltd - India
- Ministry of Mines - Canada
- Metalloyd Limited - United Kingdom
- Indonesian Coal Mining Association
- Grasim Industreis Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Jindal Steel & Power Ltd - India
- ASAPP Information Group - India
- Jorong Barutama Greston.PT - Indonesia
- Sree Jayajothi Cements Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Timah Investasi Mineral - Indoneisa
- Baramulti Group, Indonesia
- SMC Global Power, Philippines
- Orica Australia Pty. Ltd.
- Commonwealth Bank - Australia
- Karaikal Port Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Neyveli Lignite Corporation Ltd, - India
- Vijayanagar Sugar Pvt Ltd - India
- Thiess Contractors Indonesia
- Manunggal Multi Energi - Indonesia
- Bukit Makmur.PT - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Indian Oil Corporation Limited
- Kepco SPC Power Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- MS Steel International - UAE
- SMG Consultants - Indonesia
- The University of Queensland
- Economic Council, Georgia
- Australian Coal Association
- ICICI Bank Limited - India
- Jaiprakash Power Ventures ltd
- Wilmar Investment Holdings
- Petrochimia International Co. Ltd.- Taiwan
- European Bulk Services B.V. - Netherlands
- Coastal Gujarat Power Limited - India
- Merrill Lynch Commodities Europe
- LBH Netherlands Bv - Netherlands
- Bhatia International Limited - India
- Sojitz Corporation - Japan
- Central Electricity Authority - India
- Ind-Barath Power Infra Limited - India
- Riau Bara Harum - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Vizag Seaport Private Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Dalmia Cement Bharat India
- Bayan Resources Tbk. - Indonesia
- Australian Commodity Traders Exchange
- GMR Energy Limited - India
- Chettinad Cement Corporation Ltd - India
- PTC India Limited - India
- Indika Energy - Indonesia
- The Treasury - Australian Government
- Coalindo Energy - Indonesia
- Barasentosa Lestari - Indonesia
- Mjunction Services Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kapuas Tunggal Persada - Indonesia
- Heidelberg Cement - Germany
- Sindya Power Generating Company Private Ltd
- Aboitiz Power Corporation - Philippines
- Orica Mining Services - Indonesia
- Semirara Mining Corp, Philippines
- Power Finance Corporation Ltd., India
- Gujarat Mineral Development Corp Ltd - India
- South Luzon Thermal Energy Corporation
- Georgia Ports Authority, United States
- Bukit Asam (Persero) Tbk - Indonesia
- Eastern Energy - Thailand
- Electricity Generating Authority of Thailand
- Semirara Mining and Power Corporation, Philippines
- Bhushan Steel Limited - India
- Aditya Birla Group - India
- Cement Manufacturers Association - India
- Anglo American - United Kingdom
- CIMB Investment Bank - Malaysia
- Formosa Plastics Group - Taiwan
- GAC Shipping (India) Pvt Ltd
- Global Business Power Corporation, Philippines
- Ministry of Finance - Indonesia
- India Bulls Power Limited - India
- Kartika Selabumi Mining - Indonesia
- Mintek Dendrill Indonesia
- Larsen & Toubro Limited - India
- Malabar Cements Ltd - India
- Coal and Oil Company - UAE
- The State Trading Corporation of India Ltd
- GVK Power & Infra Limited - India
- Therma Luzon, Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Kaltim Prima Coal - Indonesia
- Star Paper Mills Limited - India
- Directorate Of Revenue Intelligence - India
- AsiaOL BioFuels Corp., Philippines
- Ambuja Cements Ltd - India
- Meralco Power Generation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Holcim Trading Pte Ltd - Singapore
- Energy Link Ltd, New Zealand
- Parliament of New Zealand
- Karbindo Abesyapradhi - Indoneisa
- Agrawal Coal Company - India
- Siam City Cement - Thailand
- Indian Energy Exchange, India
- Bukit Baiduri Energy - Indonesia
- Medco Energi Mining Internasional
- Salva Resources Pvt Ltd - India
- Attock Cement Pakistan Limited
- Trasteel International SA, Italy
- VISA Power Limited - India
- Latin American Coal - Colombia
- Price Waterhouse Coopers - Russia
- Bhoruka Overseas - Indonesia
- Electricity Authority, New Zealand
- Altura Mining Limited, Indonesia
- Kobexindo Tractors - Indoneisa
- Standard Chartered Bank - UAE
- Energy Development Corp, Philippines
- Mercuria Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Maheswari Brothers Coal Limited - India
- PNOC Exploration Corporation - Philippines
- Vedanta Resources Plc - India
- Straits Asia Resources Limited - Singapore
- Oldendorff Carriers - Singapore
- San Jose City I Power Corp, Philippines
- Xindia Steels Limited - India
- Mercator Lines Limited - India
- Indogreen Group - Indonesia
- Bangladesh Power Developement Board
- Minerals Council of Australia
- Leighton Contractors Pty Ltd - Australia
- Gujarat Sidhee Cement - India
- Indo Tambangraya Megah - Indonesia
- CNBM International Corporation - China
- Madhucon Powers Ltd - India
- Marubeni Corporation - India
- Samtan Co., Ltd - South Korea
- Ceylon Electricity Board - Sri Lanka
- Edison Trading Spa - Italy
- Parry Sugars Refinery, India
- Sical Logistics Limited - India
- Interocean Group of Companies - India
- Bulk Trading Sa - Switzerland
- Sinarmas Energy and Mining - Indonesia
- Thai Mozambique Logistica
- Kumho Petrochemical, South Korea
- Sakthi Sugars Limited - India
- Romanian Commodities Exchange
- Deloitte Consulting - India
- Borneo Indobara - Indonesia
- PowerSource Philippines DevCo
- Kalimantan Lumbung Energi - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Renaissance Capital - South Africa
- Eastern Coal Council - USA
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Africa Commodities Group - South Africa
- Banpu Public Company Limited - Thailand
- London Commodity Brokers - England
- Globalindo Alam Lestari - Indonesia
- Antam Resourcindo - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Tamil Nadu electricity Board
- Kohat Cement Company Ltd. - Pakistan
- Uttam Galva Steels Limited - India
- Planning Commission, India
- Toyota Tsusho Corporation, Japan
- White Energy Company Limited
- New Zealand Coal & Carbon
- Chamber of Mines of South Africa
- PetroVietnam Power Coal Import and Supply Company
- Posco Energy - South Korea
- Bharathi Cement Corporation - India
- Central Java Power - Indonesia
- Carbofer General Trading SA - India
- Ministry of Transport, Egypt
- Krishnapatnam Port Company Ltd. - India
- Tata Chemicals Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Simpson Spence & Young - Indonesia
- Independent Power Producers Association of India
- Makarim & Taira - Indonesia
- Meenaskhi Energy Private Limited - India
- IHS Mccloskey Coal Group - USA
- Asmin Koalindo Tuhup - Indonesia
- Rio Tinto Coal - Australia
- Alfred C Toepfer International GmbH - Germany
- Port Waratah Coal Services - Australia
- Videocon Industries ltd - India
- Savvy Resources Ltd - HongKong
- SN Aboitiz Power Inc, Philippines
- Siam City Cement PLC, Thailand
- Petron Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Goldman Sachs - Singapore
- Global Green Power PLC Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Singapore Mercantile Exchange
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