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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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Thursday, 02 April 15
NEWBUILDING ORDERS FOR DRY BULK CARRIERS "DRY" UP
Newbuilding ordering activity remained subdued over the course of the past week, as ship owners are wary of adding further tonnage to an already pr ...
Wednesday, 01 April 15
SUPRAMAX & HANDY: RATES HELD STEADY TOWARDS THE WEEKEND
“Despite the fact that the Dry Bulk market closed off on the green last week, sentiment didn't improve by any means, not only because of ...
Wednesday, 01 April 15
WEEKLY SHIPPING MARKET UPDATE - INTERMODAL
There is no doubt that we are still witnessing a very challenging and at the same time very uncertain market, both with respect to dry chartering a ...
Wednesday, 01 April 15
Q4' 15 INDONESIA COAL SWAP CLOSED AT $45.15 W/E 27 MARCH 2015
COALspot.com: Indonesian coal swap for delivery Q2' 2015 drops month on month and week over week.
The Q2 swap declined US$ 1.54 (3.24%) mo ...
Tuesday, 31 March 15
RICHARDS BAY COAL SWAPS GAIN WEEK OVER WEEK
COALspot.com: API 4 FOB Richards Bay Coal swap for delivery Q2' 2015 declined month over month but increased week on week.
The Q2 swap has ...
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- Bhushan Steel Limited - India
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- Economic Council, Georgia
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- Semirara Mining Corp, Philippines
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- Africa Commodities Group - South Africa
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- Goldman Sachs - Singapore
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- Renaissance Capital - South Africa
- Billiton Holdings Pty Ltd - Australia
- Kideco Jaya Agung - Indonesia
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- Kohat Cement Company Ltd. - Pakistan
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- Wood Mackenzie - Singapore
- Krishnapatnam Port Company Ltd. - India
- Indian Energy Exchange, India
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- Savvy Resources Ltd - HongKong
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- Australian Commodity Traders Exchange
- International Coal Ventures Pvt Ltd - India
- London Commodity Brokers - England
- Medco Energi Mining Internasional
- Rio Tinto Coal - Australia
- GAC Shipping (India) Pvt Ltd
- Grasim Industreis Ltd - India
- Straits Asia Resources Limited - Singapore
- Bukit Baiduri Energy - Indonesia
- Central Electricity Authority - India
- Sojitz Corporation - Japan
- Rashtriya Ispat Nigam Limited - India
- TeaM Sual Corporation - Philippines
- IEA Clean Coal Centre - UK
- SMC Global Power, Philippines
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- White Energy Company Limited
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- Tamil Nadu electricity Board
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- PowerSource Philippines DevCo
- Timah Investasi Mineral - Indoneisa
- Georgia Ports Authority, United States
- Mjunction Services Limited - India
- McConnell Dowell - Australia
- Binh Thuan Hamico - Vietnam
- Essar Steel Hazira Ltd - India
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- Sree Jayajothi Cements Limited - India
- Meralco Power Generation, Philippines
- Ministry of Finance - Indonesia
- Commonwealth Bank - Australia
- Ambuja Cements Ltd - India
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- Toyota Tsusho Corporation, Japan
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- GN Power Mariveles Coal Plant, Philippines
- Simpson Spence & Young - Indonesia
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- Orica Australia Pty. Ltd.
- ICICI Bank Limited - India
- Meenaskhi Energy Private Limited - India
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- Port Waratah Coal Services - Australia
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- PTC India Limited - India
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- Price Waterhouse Coopers - Russia
- Metalloyd Limited - United Kingdom
- Directorate Of Revenue Intelligence - India
- Semirara Mining and Power Corporation, Philippines
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- Mintek Dendrill Indonesia
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- MS Steel International - UAE
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- Australian Coal Association
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- Bahari Cakrawala Sebuku - Indonesia
- Indonesian Coal Mining Association
- Global Green Power PLC Corporation, Philippines
- Kumho Petrochemical, South Korea
- Bulk Trading Sa - Switzerland
- Star Paper Mills Limited - India
- Independent Power Producers Association of India
- Globalindo Alam Lestari - Indonesia
- PNOC Exploration Corporation - Philippines
- The University of Queensland
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