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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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Tuesday, 07 July 09
Q+A - INDONESIA MINING SECTOR FACES ELECTION RISKS - REUTERS
Indonesia has struggled to lure foreign investment to its mining sector in recent years, and the nationalist line on resource exploitation taken by ...
Tuesday, 07 July 09
INDIKA ENERGY COMPLETES THE ACQUISITION OF PETROSEA
TAMBANG reported that, PT Indika Energy, Tbk has officially announced that it has completed the acquisition of PT Petrosea, Tbk. from Clough Interna ...
Tuesday, 07 July 09
RUSSIAN AUDITORS ATTACK COAL EXPORTERS OVER PRICING
Russia's budget is losing substantial revenues because the country's exporters ship coal overseas at artificially low prices through various offsh ...
Tuesday, 07 July 09
RBCT COAL EXPORTS TO REMAIN BELOW CAPACITY IN 2009
Coal volumes railed to South Africa’s Richards Bay Coal Terminal are continuing to fall far short of the corridor’s nameplate yearly cap ...
Tuesday, 07 July 09
TATA POWER AID THE INDONESIAN COAL MINES
BL reported that Mr Prasad Menon MD of TATA Power aid the Indonesian coal mines PT Kaltim Prima Coal and PT Arutmin Indonesia in which TATA Power ha ...
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- Kobexindo Tractors - Indoneisa
- Price Waterhouse Coopers - Russia
- Indian Oil Corporation Limited
- Neyveli Lignite Corporation Ltd, - India
- Jaiprakash Power Ventures ltd
- Goldman Sachs - Singapore
- Bayan Resources Tbk. - Indonesia
- Bukit Baiduri Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Borneo Indobara - Indonesia
- Star Paper Mills Limited - India
- Merrill Lynch Commodities Europe
- OPG Power Generation Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Gujarat Sidhee Cement - India
- Eastern Coal Council - USA
- Petrochimia International Co. Ltd.- Taiwan
- Georgia Ports Authority, United States
- SN Aboitiz Power Inc, Philippines
- Deloitte Consulting - India
- PNOC Exploration Corporation - Philippines
- Parry Sugars Refinery, India
- Carbofer General Trading SA - India
- Essar Steel Hazira Ltd - India
- Standard Chartered Bank - UAE
- Oldendorff Carriers - Singapore
- Dalmia Cement Bharat India
- Attock Cement Pakistan Limited
- Asmin Koalindo Tuhup - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Toyota Tsusho Corporation, Japan
- Minerals Council of Australia
- Bangladesh Power Developement Board
- Offshore Bulk Terminal Pte Ltd, Singapore
- Jorong Barutama Greston.PT - Indonesia
- Mercator Lines Limited - India
- Larsen & Toubro Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- European Bulk Services B.V. - Netherlands
- Sakthi Sugars Limited - India
- Wilmar Investment Holdings
- Kumho Petrochemical, South Korea
- London Commodity Brokers - England
- Meralco Power Generation, Philippines
- CIMB Investment Bank - Malaysia
- Bahari Cakrawala Sebuku - Indonesia
- Jindal Steel & Power Ltd - India
- Directorate Of Revenue Intelligence - India
- Sinarmas Energy and Mining - Indonesia
- Antam Resourcindo - Indonesia
- New Zealand Coal & Carbon
- Holcim Trading Pte Ltd - Singapore
- Vizag Seaport Private Limited - India
- Trasteel International SA, Italy
- Global Green Power PLC Corporation, Philippines
- Energy Link Ltd, New Zealand
- Barasentosa Lestari - Indonesia
- GMR Energy Limited - India
- Simpson Spence & Young - Indonesia
- SMC Global Power, Philippines
- Australian Commodity Traders Exchange
- Sree Jayajothi Cements Limited - India
- Mintek Dendrill Indonesia
- Medco Energi Mining Internasional
- Coastal Gujarat Power Limited - India
- Metalloyd Limited - United Kingdom
- VISA Power Limited - India
- CNBM International Corporation - China
- Kideco Jaya Agung - Indonesia
- Chettinad Cement Corporation Ltd - India
- Lanco Infratech Ltd - India
- Kaltim Prima Coal - Indonesia
- Tata Chemicals Ltd - India
- GVK Power & Infra Limited - India
- Singapore Mercantile Exchange
- Intertek Mineral Services - Indonesia
- Ministry of Mines - Canada
- Karaikal Port Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- The University of Queensland
- Interocean Group of Companies - India
- IHS Mccloskey Coal Group - USA
- Indian Energy Exchange, India
- ICICI Bank Limited - India
- Uttam Galva Steels Limited - India
- Agrawal Coal Company - India
- Africa Commodities Group - South Africa
- Coal and Oil Company - UAE
- Port Waratah Coal Services - Australia
- Cigading International Bulk Terminal - Indonesia
- Power Finance Corporation Ltd., India
- GN Power Mariveles Coal Plant, Philippines
- Mjunction Services Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Marubeni Corporation - India
- Formosa Plastics Group - Taiwan
- Malabar Cements Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Grasim Industreis Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Bhushan Steel Limited - India
- PTC India Limited - India
- Australian Coal Association
- Chamber of Mines of South Africa
- Siam City Cement PLC, Thailand
- Videocon Industries ltd - India
- Planning Commission, India
- MS Steel International - UAE
- Ceylon Electricity Board - Sri Lanka
- Sarangani Energy Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Kepco SPC Power Corporation, Philippines
- Heidelberg Cement - Germany
- India Bulls Power Limited - India
- Sojitz Corporation - Japan
- Ind-Barath Power Infra Limited - India
- International Coal Ventures Pvt Ltd - India
- Latin American Coal - Colombia
- Electricity Authority, New Zealand
- Semirara Mining and Power Corporation, Philippines
- Ministry of Transport, Egypt
- Altura Mining Limited, Indonesia
- Sical Logistics Limited - India
- Karbindo Abesyapradhi - Indoneisa
- AsiaOL BioFuels Corp., Philippines
- Meenaskhi Energy Private Limited - India
- Parliament of New Zealand
- Miang Besar Coal Terminal - Indonesia
- Makarim & Taira - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Semirara Mining Corp, Philippines
- Bukit Makmur.PT - Indonesia
- Bulk Trading Sa - Switzerland
- Independent Power Producers Association of India
- Maharashtra Electricity Regulatory Commission - India
- Posco Energy - South Korea
- Tamil Nadu electricity Board
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kohat Cement Company Ltd. - Pakistan
- Global Business Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Bhatia International Limited - India
- Pendopo Energi Batubara - Indonesia
- Timah Investasi Mineral - Indoneisa
- Coalindo Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Orica Mining Services - Indonesia
- Riau Bara Harum - Indonesia
- Binh Thuan Hamico - Vietnam
- Rio Tinto Coal - Australia
- Xindia Steels Limited - India
- Economic Council, Georgia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Kartika Selabumi Mining - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Vedanta Resources Plc - India
- Cement Manufacturers Association - India
- Salva Resources Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- McConnell Dowell - Australia
- White Energy Company Limited
- Central Java Power - Indonesia
- Madhucon Powers Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Ministry of Finance - Indonesia
- Wood Mackenzie - Singapore
- Romanian Commodities Exchange
- Globalindo Alam Lestari - Indonesia
- Bharathi Cement Corporation - India
- Eastern Energy - Thailand
- Electricity Generating Authority of Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Maheswari Brothers Coal Limited - India
- Krishnapatnam Port Company Ltd. - India
- TeaM Sual Corporation - Philippines
- Sindya Power Generating Company Private Ltd
- Global Coal Blending Company Limited - Australia
- Thiess Contractors Indonesia
- LBH Netherlands Bv - Netherlands
- Baramulti Group, Indonesia
- Samtan Co., Ltd - South Korea
- The State Trading Corporation of India Ltd
- Gujarat Electricity Regulatory Commission - India
- Anglo American - United Kingdom
- Siam City Cement - Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indogreen Group - Indonesia
- Indika Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Central Electricity Authority - India
- Indonesian Coal Mining Association
- Bhoruka Overseas - Indonesia
- Commonwealth Bank - Australia
- SMG Consultants - Indonesia
- Thai Mozambique Logistica
- ASAPP Information Group - India
- TNB Fuel Sdn Bhd - Malaysia
- PowerSource Philippines DevCo
- Orica Australia Pty. Ltd.
- Mercuria Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Edison Trading Spa - Italy
- Petron Corporation, Philippines
- Ambuja Cements Ltd - India
- IEA Clean Coal Centre - UK
- Renaissance Capital - South Africa
- Billiton Holdings Pty Ltd - Australia
- Aditya Birla Group - India
- Energy Development Corp, Philippines
- Indo Tambangraya Megah - Indonesia
- The Treasury - Australian Government
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