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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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Friday, 06 March 09
CHURCHILL STARTS REVERSE DRILLING AT INDONESIAN COAL PROJECT
Miningweekly reported that, Aim-listed minerals explorer Churchill Mining on Thursday stated that reverse drilling at its East Kutai coal project (E ...
Thursday, 05 March 09
UAE FUND PLANS INDONESIA COAL RAIL LINK
News.alibaba reported that, A United Arab Emirates' fund signed a memorandum of understanding on Monday (2 March 2009) with an Indonesian prov ...
Thursday, 05 March 09
CHINA COAL-PRICES LITTLE CHANGED DESPITE PLUNGE ABROAD
China's spot coal prices were little changed from a week earlier, despite the sharp fall in the international market, and demand for coal remains s ...
Thursday, 05 March 09
RAK TO BUILD COAL FIRED POWER STATION
The National Ras al Khaimah, which is developing a coal mine in Indonesia, will build a coal-fired power plant in the emirate in the next two years ...
Wednesday, 04 March 09
COAL: GLOBAL DEMAND WEAKENS
The Jakarta Post reported that, While coal prices were stickier on the way down compared to other commodities like oil, the Newcastle price now sugg ...
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- Offshore Bulk Terminal Pte Ltd, Singapore
- Bhoruka Overseas - Indonesia
- Karaikal Port Pvt Ltd - India
- CNBM International Corporation - China
- Kaltim Prima Coal - Indonesia
- Carbofer General Trading SA - India
- Asmin Koalindo Tuhup - Indonesia
- Videocon Industries ltd - India
- Deloitte Consulting - India
- Straits Asia Resources Limited - Singapore
- Goldman Sachs - Singapore
- Formosa Plastics Group - Taiwan
- Alfred C Toepfer International GmbH - Germany
- Manunggal Multi Energi - Indonesia
- Dalmia Cement Bharat India
- The Treasury - Australian Government
- Medco Energi Mining Internasional
- Energy Development Corp, Philippines
- Thai Mozambique Logistica
- Standard Chartered Bank - UAE
- Banpu Public Company Limited - Thailand
- McConnell Dowell - Australia
- Uttam Galva Steels Limited - India
- Kartika Selabumi Mining - Indonesia
- Chettinad Cement Corporation Ltd - India
- Sical Logistics Limited - India
- Mercator Lines Limited - India
- Central Electricity Authority - India
- Bukit Makmur.PT - Indonesia
- Riau Bara Harum - Indonesia
- Bayan Resources Tbk. - Indonesia
- Petron Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Eastern Energy - Thailand
- Ceylon Electricity Board - Sri Lanka
- Posco Energy - South Korea
- Edison Trading Spa - Italy
- Timah Investasi Mineral - Indoneisa
- Jindal Steel & Power Ltd - India
- LBH Netherlands Bv - Netherlands
- SMC Global Power, Philippines
- Aditya Birla Group - India
- Price Waterhouse Coopers - Russia
- Economic Council, Georgia
- The State Trading Corporation of India Ltd
- Electricity Authority, New Zealand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Eastern Coal Council - USA
- MS Steel International - UAE
- Global Business Power Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Indian Oil Corporation Limited
- Tamil Nadu electricity Board
- Indika Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- European Bulk Services B.V. - Netherlands
- Anglo American - United Kingdom
- AsiaOL BioFuels Corp., Philippines
- Marubeni Corporation - India
- PetroVietnam Power Coal Import and Supply Company
- Essar Steel Hazira Ltd - India
- Indo Tambangraya Megah - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Semirara Mining Corp, Philippines
- IHS Mccloskey Coal Group - USA
- Ministry of Finance - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Rio Tinto Coal - Australia
- ASAPP Information Group - India
- Independent Power Producers Association of India
- CIMB Investment Bank - Malaysia
- Bulk Trading Sa - Switzerland
- Ambuja Cements Ltd - India
- GMR Energy Limited - India
- Malabar Cements Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Coal and Oil Company - UAE
- Therma Luzon, Inc, Philippines
- Makarim & Taira - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kumho Petrochemical, South Korea
- PNOC Exploration Corporation - Philippines
- Jaiprakash Power Ventures ltd
- SMG Consultants - Indonesia
- Mercuria Energy - Indonesia
- Attock Cement Pakistan Limited
- Bhushan Steel Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Singapore Mercantile Exchange
- Leighton Contractors Pty Ltd - Australia
- The University of Queensland
- Grasim Industreis Ltd - India
- Siam City Cement PLC, Thailand
- Karbindo Abesyapradhi - Indoneisa
- Energy Link Ltd, New Zealand
- Borneo Indobara - Indonesia
- Mintek Dendrill Indonesia
- Gujarat Sidhee Cement - India
- Vijayanagar Sugar Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Renaissance Capital - South Africa
- Star Paper Mills Limited - India
- Orica Australia Pty. Ltd.
- Romanian Commodities Exchange
- Salva Resources Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Petrochimia International Co. Ltd.- Taiwan
- Global Green Power PLC Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Electricity Generating Authority of Thailand
- Intertek Mineral Services - Indonesia
- Latin American Coal - Colombia
- Sree Jayajothi Cements Limited - India
- Rashtriya Ispat Nigam Limited - India
- Power Finance Corporation Ltd., India
- Bukit Baiduri Energy - Indonesia
- Bangladesh Power Developement Board
- Xindia Steels Limited - India
- Semirara Mining and Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Orica Mining Services - Indonesia
- International Coal Ventures Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Bhatia International Limited - India
- Commonwealth Bank - Australia
- Merrill Lynch Commodities Europe
- Maharashtra Electricity Regulatory Commission - India
- Indonesian Coal Mining Association
- London Commodity Brokers - England
- Metalloyd Limited - United Kingdom
- TNB Fuel Sdn Bhd - Malaysia
- Sindya Power Generating Company Private Ltd
- Kepco SPC Power Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- VISA Power Limited - India
- ICICI Bank Limited - India
- Samtan Co., Ltd - South Korea
- Miang Besar Coal Terminal - Indonesia
- White Energy Company Limited
- Africa Commodities Group - South Africa
- Sojitz Corporation - Japan
- Cement Manufacturers Association - India
- Agrawal Coal Company - India
- Indogreen Group - Indonesia
- San Jose City I Power Corp, Philippines
- PowerSource Philippines DevCo
- Port Waratah Coal Services - Australia
- Kohat Cement Company Ltd. - Pakistan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Planning Commission, India
- Trasteel International SA, Italy
- Barasentosa Lestari - Indonesia
- Sarangani Energy Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Parry Sugars Refinery, India
- Georgia Ports Authority, United States
- Meralco Power Generation, Philippines
- Wilmar Investment Holdings
- GVK Power & Infra Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Global Coal Blending Company Limited - Australia
- TeaM Sual Corporation - Philippines
- Interocean Group of Companies - India
- Ministry of Mines - Canada
- Meenaskhi Energy Private Limited - India
- Mjunction Services Limited - India
- Central Java Power - Indonesia
- Thiess Contractors Indonesia
- Krishnapatnam Port Company Ltd. - India
- Simpson Spence & Young - Indonesia
- Toyota Tsusho Corporation, Japan
- Bukit Asam (Persero) Tbk - Indonesia
- Iligan Light & Power Inc, Philippines
- Ind-Barath Power Infra Limited - India
- New Zealand Coal & Carbon
- Coalindo Energy - Indonesia
- Larsen & Toubro Limited - India
- Australian Coal Association
- Baramulti Group, Indonesia
- Australian Commodity Traders Exchange
- Indian Energy Exchange, India
- Coastal Gujarat Power Limited - India
- Ministry of Transport, Egypt
- Wood Mackenzie - Singapore
- Heidelberg Cement - Germany
- Kideco Jaya Agung - Indonesia
- Vedanta Resources Plc - India
- Antam Resourcindo - Indonesia
- OPG Power Generation Pvt Ltd - India
- Sakthi Sugars Limited - India
- Savvy Resources Ltd - HongKong
- GAC Shipping (India) Pvt Ltd
- Tata Chemicals Ltd - India
- Chamber of Mines of South Africa
- Vizag Seaport Private Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Minerals Council of Australia
- Aboitiz Power Corporation - Philippines
- Bharathi Cement Corporation - India
- Neyveli Lignite Corporation Ltd, - India
- PTC India Limited - India
- Siam City Cement - Thailand
- Gujarat Electricity Regulatory Commission - India
- Lanco Infratech Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- India Bulls Power Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Directorate Of Revenue Intelligence - India
- Madhucon Powers Ltd - India
- IEA Clean Coal Centre - UK
- Oldendorff Carriers - Singapore
- Billiton Holdings Pty Ltd - Australia
- Parliament of New Zealand
- Globalindo Alam Lestari - Indonesia
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