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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, 15 September 14
CFR SOUTH CHINA COAL SWAP GAINED DAY ON DAY AND WEEK ON WEEK
COALspot.com: API 8 CFR South China Coal swap for delivery in October 2014 decreased US$ 2.30 (-3.36%) month over month, but increased day on day a ...
Sunday, 14 September 14
FREIGHT RATES RALLY AS DEMAND INCREASED
COALspot.com: The Baltic Dry Index (BDI) is a number (in US$) issued daily by the London-based Baltic Exchange up 2.25 percent week on week. BDI cl ...
Friday, 12 September 14
U.S. YEAR-TO-DATE COAL PRODUCTION TOTALED 673.3 MMST, SAYS EIA
COALspot.com – United States the world's second largest coal producer, produced approximately 19.20 million short tons (mmst) of coal in ...
Thursday, 11 September 14
THE PANAMAX MARKET IS TAKING A BREATHER - FEARNLEYS
Handy
We have experienced more activity in both hemispheres this week, said Fearnleys in this week's weekly report.
"We see rates c ...
Wednesday, 10 September 14
ARE GREEK BANKS ON THE VERGE TO START LENDING AGAIN? - JOHN N. COTZIAS
It is well known that Greek Banks had suffered severely after the economic crisis of 2008. From that period onwards, major changes have occur ...
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- Meenaskhi Energy Private Limited - India
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- Leighton Contractors Pty Ltd - Australia
- Coalindo Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Coal and Oil Company - UAE
- Sakthi Sugars Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Singapore Mercantile Exchange
- Grasim Industreis Ltd - India
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- Pendopo Energi Batubara - Indonesia
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- Parliament of New Zealand
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- Minerals Council of Australia
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- Tata Chemicals Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Eastern Coal Council - USA
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- Intertek Mineral Services - Indonesia
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- Straits Asia Resources Limited - Singapore
- Eastern Energy - Thailand
- Mintek Dendrill Indonesia
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- Orica Australia Pty. Ltd.
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- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Baiduri Energy - Indonesia
- Thai Mozambique Logistica
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- Ministry of Mines - Canada
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- Commonwealth Bank - Australia
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- Goldman Sachs - Singapore
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- Africa Commodities Group - South Africa
- Ministry of Transport, Egypt
- MS Steel International - UAE
- Carbofer General Trading SA - India
- Antam Resourcindo - Indonesia
- Makarim & Taira - Indonesia
- Edison Trading Spa - Italy
- Kepco SPC Power Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
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- Indian Energy Exchange, India
- Bulk Trading Sa - Switzerland
- Altura Mining Limited, Indonesia
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- Economic Council, Georgia
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- Bayan Resources Tbk. - Indonesia
- Attock Cement Pakistan Limited
- Planning Commission, India
- Australian Commodity Traders Exchange
- CNBM International Corporation - China
- Indian Oil Corporation Limited
- McConnell Dowell - Australia
- Trasteel International SA, Italy
- Agrawal Coal Company - India
- GAC Shipping (India) Pvt Ltd
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- Mercuria Energy - Indonesia
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- Romanian Commodities Exchange
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- Chettinad Cement Corporation Ltd - India
- Price Waterhouse Coopers - Russia
- Jorong Barutama Greston.PT - Indonesia
- Central Java Power - Indonesia
- Borneo Indobara - Indonesia
- Renaissance Capital - South Africa
- London Commodity Brokers - England
- Karbindo Abesyapradhi - Indoneisa
- Indo Tambangraya Megah - Indonesia
- White Energy Company Limited
- Barasentosa Lestari - Indonesia
- Metalloyd Limited - United Kingdom
- San Jose City I Power Corp, Philippines
- GVK Power & Infra Limited - India
- Siam City Cement - Thailand
- Sindya Power Generating Company Private Ltd
- Sojitz Corporation - Japan
- The University of Queensland
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- Sical Logistics Limited - India
- GN Power Mariveles Coal Plant, Philippines
- VISA Power Limited - India
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- Billiton Holdings Pty Ltd - Australia
- Bharathi Cement Corporation - India
- Mjunction Services Limited - India
- Anglo American - United Kingdom
- OPG Power Generation Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Formosa Plastics Group - Taiwan
- Manunggal Multi Energi - Indonesia
- PTC India Limited - India
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- Electricity Authority, New Zealand
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- Star Paper Mills Limited - India
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- Toyota Tsusho Corporation, Japan
- Aditya Birla Group - India
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- Tamil Nadu electricity Board
- Pipit Mutiara Jaya. PT, Indonesia
- Xindia Steels Limited - India
- AsiaOL BioFuels Corp., Philippines
- Alfred C Toepfer International GmbH - Germany
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- Energy Link Ltd, New Zealand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- European Bulk Services B.V. - Netherlands
- Bangladesh Power Developement Board
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- SN Aboitiz Power Inc, Philippines
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- PowerSource Philippines DevCo
- Maheswari Brothers Coal Limited - India
- Petron Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
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- Bukit Asam (Persero) Tbk - Indonesia
- Bukit Makmur.PT - Indonesia
- Bhoruka Overseas - Indonesia
- Power Finance Corporation Ltd., India
- Australian Coal Association
- Dr Ramakrishna Prasad Power Pvt Ltd - India
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- The Treasury - Australian Government
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- Global Coal Blending Company Limited - Australia
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- Therma Luzon, Inc, Philippines
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