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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, 17 August 09
CHINESE COAL PURCHASE COULD START A TREND
ABC Rural reported that, The takeover of a major Australian coal mining company by Chinese-owned Yanzhou has raised fears coal markets could be domi ...
Saturday, 15 August 09
TWO / THREE YEAR CHARTER RATES FOR SUPRAMAX IS AROUND US$ 15,000-16,000 PER DAY - VISTAAR SHIPPING
COALspot.com (Singapore): The dry bulk market continued to be soft in the beginning of the week, however towards to end of the week the BDI recovere ...
Friday, 14 August 09
ASIA GREEN TO SELL MORE COAL
I Stock Analyst reported that, Asia Green Energy Plc (AGE) aims to increase its coal sales by 20 percent to 1 million tonnes this year, given the gl ...
Friday, 14 August 09
INDONESIA COAL-PRICES FALL TO $74, INDIA EYES SEPT CARGOES
Reuters reported that, Prices of power-station coal from Australia fell to around $74 a tonne as demand eased, while Indian buyers started to look f ...
Friday, 14 August 09
GUACOLDA STARTS THIRD COAL-FIRED UNIT
Macorship reported that, Chile’s Empresa Electrica Guacolda said that the third unit at its Guacolda coal-fired power plant began supplying po ...
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- Iligan Light & Power Inc, Philippines
- Indian Oil Corporation Limited
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- Bhoruka Overseas - Indonesia
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- Bangladesh Power Developement Board
- Sindya Power Generating Company Private Ltd
- Commonwealth Bank - Australia
- Jaiprakash Power Ventures ltd
- Ministry of Finance - Indonesia
- Thiess Contractors Indonesia
- Ministry of Transport, Egypt
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- Price Waterhouse Coopers - Russia
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- Jorong Barutama Greston.PT - Indonesia
- Eastern Coal Council - USA
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- Global Business Power Corporation, Philippines
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- Billiton Holdings Pty Ltd - Australia
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- Intertek Mineral Services - Indonesia
- Global Green Power PLC Corporation, Philippines
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- Metalloyd Limited - United Kingdom
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- Filglen & Citicon Mining (HK) Ltd - Hong Kong
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- Therma Luzon, Inc, Philippines
- Tamil Nadu electricity Board
- LBH Netherlands Bv - Netherlands
- Eastern Energy - Thailand
- Kartika Selabumi Mining - Indonesia
- Economic Council, Georgia
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- International Coal Ventures Pvt Ltd - India
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- Wilmar Investment Holdings
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- Bulk Trading Sa - Switzerland
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- Renaissance Capital - South Africa
- Toyota Tsusho Corporation, Japan
- Standard Chartered Bank - UAE
- Indian Energy Exchange, India
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- PTC India Limited - India
- IHS Mccloskey Coal Group - USA
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- Africa Commodities Group - South Africa
- Goldman Sachs - Singapore
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- CIMB Investment Bank - Malaysia
- Sree Jayajothi Cements Limited - India
- Singapore Mercantile Exchange
- Borneo Indobara - Indonesia
- Electricity Generating Authority of Thailand
- Holcim Trading Pte Ltd - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- London Commodity Brokers - England
- Parliament of New Zealand
- Port Waratah Coal Services - Australia
- Rashtriya Ispat Nigam Limited - India
- Alfred C Toepfer International GmbH - Germany
- Energy Development Corp, Philippines
- SMG Consultants - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Petron Corporation, Philippines
- Indika Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Global Coal Blending Company Limited - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Central Electricity Authority - India
- Thai Mozambique Logistica
- Chamber of Mines of South Africa
- Miang Besar Coal Terminal - Indonesia
- OPG Power Generation Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Coal and Oil Company - UAE
- IEA Clean Coal Centre - UK
- TNB Fuel Sdn Bhd - Malaysia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PowerSource Philippines DevCo
- Sojitz Corporation - Japan
- Wood Mackenzie - Singapore
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- Sarangani Energy Corporation, Philippines
- Orica Mining Services - Indonesia
- Carbofer General Trading SA - India
- Kumho Petrochemical, South Korea
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- The State Trading Corporation of India Ltd
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- Banpu Public Company Limited - Thailand
- Gujarat Sidhee Cement - India
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- GMR Energy Limited - India
- Oldendorff Carriers - Singapore
- Xindia Steels Limited - India
- Planning Commission, India
- Electricity Authority, New Zealand
- Uttam Galva Steels Limited - India
- Parry Sugars Refinery, India
- Formosa Plastics Group - Taiwan
- Trasteel International SA, Italy
- Bhushan Steel Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Minerals Council of Australia
- ASAPP Information Group - India
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- Jindal Steel & Power Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Meenaskhi Energy Private Limited - India
- Indogreen Group - Indonesia
- Heidelberg Cement - Germany
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- Edison Trading Spa - Italy
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- Karbindo Abesyapradhi - Indoneisa
- Australian Commodity Traders Exchange
- Bukit Makmur.PT - Indonesia
- Georgia Ports Authority, United States
- CNBM International Corporation - China
- Maheswari Brothers Coal Limited - India
- Orica Australia Pty. Ltd.
- Indo Tambangraya Megah - Indonesia
- SN Aboitiz Power Inc, Philippines
- Riau Bara Harum - Indonesia
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- Timah Investasi Mineral - Indoneisa
- Larsen & Toubro Limited - India
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- Agrawal Coal Company - India
- Baramulti Group, Indonesia
- Ind-Barath Power Infra Limited - India
- Manunggal Multi Energi - Indonesia
- Ceylon Electricity Board - Sri Lanka
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- Indonesian Coal Mining Association
- Leighton Contractors Pty Ltd - Australia
- GN Power Mariveles Coal Plant, Philippines
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- ICICI Bank Limited - India
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- Merrill Lynch Commodities Europe
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- Makarim & Taira - Indonesia
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- GAC Shipping (India) Pvt Ltd
- Interocean Group of Companies - India
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- Kaltim Prima Coal - Indonesia
- Mercuria Energy - Indonesia
- McConnell Dowell - Australia
- Pendopo Energi Batubara - Indonesia
- Anglo American - United Kingdom
- The Treasury - Australian Government
- Independent Power Producers Association of India
- Ministry of Mines - Canada
- Pipit Mutiara Jaya. PT, Indonesia
- Chettinad Cement Corporation Ltd - India
- Kobexindo Tractors - Indoneisa
- Energy Link Ltd, New Zealand
- India Bulls Power Limited - India
- Binh Thuan Hamico - Vietnam
- Medco Energi Mining Internasional
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- Madhucon Powers Ltd - India
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- Kapuas Tunggal Persada - Indonesia
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- Aditya Birla Group - India
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- SMC Global Power, Philippines
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