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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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Wednesday, 02 April 14
CHINA: ARBITRATION CLAUSES IN BILLS OF LADING UNDER CHINESE LEGAL PRACTICE - SKULD
KNOWLEDGE TO ELEVATE
Successful incorporation of a charterparty arbitration clause into the bills of lading is not a straight forward matte ...
Wednesday, 02 April 14
BPI BREAKING BELOW THE 1,000 PSYCHOLOGICAL LEVELS - INTERMODAL
Any resistance put forth by the Dry Bulk market the week prior was succumbed this time round. All indices slid and losses were noted across the ...
Tuesday, 01 April 14
NEWCASTLE PORT SHIPPED 11.95 MILLION TONS OF COAL IN MARCH 2014
COALspot.com: In the week ended 31 March 2014, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensland, total 2 ...
Monday, 31 March 14
SHIPPING CONFIDENCE HITS HIGHEST LEVEL SINCE 2008 - MOORE STEPHENS
Overall confidence levels in the shipping industry rose to their highest level for almost six years in the three-month period to February 2014, ...
Monday, 31 March 14
COAL SWAP FOR Q1 2015 DELIVERY HAS CLOSED 4.76% HIGHER COMPARED Q2 14 CLOSING
COALspot.com – Indonesia, the world’s largest exporter of the thermal coal's swaps for delivery April - June 2014 gained this pa ...
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- ASAPP Information Group - India
- Ministry of Transport, Egypt
- Indian Oil Corporation Limited
- Indonesian Coal Mining Association
- Coal and Oil Company - UAE
- Parry Sugars Refinery, India
- PNOC Exploration Corporation - Philippines
- OPG Power Generation Pvt Ltd - India
- White Energy Company Limited
- AsiaOL BioFuels Corp., Philippines
- Leighton Contractors Pty Ltd - Australia
- Makarim & Taira - Indonesia
- Bhushan Steel Limited - India
- SN Aboitiz Power Inc, Philippines
- Formosa Plastics Group - Taiwan
- Binh Thuan Hamico - Vietnam
- Mercuria Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Commonwealth Bank - Australia
- Orica Australia Pty. Ltd.
- Bayan Resources Tbk. - Indonesia
- Kartika Selabumi Mining - Indonesia
- Kideco Jaya Agung - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Indian Energy Exchange, India
- Eastern Coal Council - USA
- Port Waratah Coal Services - Australia
- Siam City Cement - Thailand
- Romanian Commodities Exchange
- Planning Commission, India
- IEA Clean Coal Centre - UK
- Australian Coal Association
- Kohat Cement Company Ltd. - Pakistan
- Xindia Steels Limited - India
- Trasteel International SA, Italy
- Petron Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Mjunction Services Limited - India
- Lanco Infratech Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Africa Commodities Group - South Africa
- Pendopo Energi Batubara - Indonesia
- Larsen & Toubro Limited - India
- Sical Logistics Limited - India
- The University of Queensland
- Toyota Tsusho Corporation, Japan
- New Zealand Coal & Carbon
- Global Coal Blending Company Limited - Australia
- Latin American Coal - Colombia
- Chettinad Cement Corporation Ltd - India
- Borneo Indobara - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Power Finance Corporation Ltd., India
- Meralco Power Generation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Aboitiz Power Corporation - Philippines
- Cement Manufacturers Association - India
- Medco Energi Mining Internasional
- Pipit Mutiara Jaya. PT, Indonesia
- Mintek Dendrill Indonesia
- Videocon Industries ltd - India
- Directorate Of Revenue Intelligence - India
- Sakthi Sugars Limited - India
- Wilmar Investment Holdings
- Renaissance Capital - South Africa
- European Bulk Services B.V. - Netherlands
- GMR Energy Limited - India
- Chamber of Mines of South Africa
- Minerals Council of Australia
- Essar Steel Hazira Ltd - India
- Attock Cement Pakistan Limited
- Bhoruka Overseas - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Energy Development Corp, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Sindya Power Generating Company Private Ltd
- ICICI Bank Limited - India
- Salva Resources Pvt Ltd - India
- Singapore Mercantile Exchange
- Dalmia Cement Bharat India
- Independent Power Producers Association of India
- Bukit Asam (Persero) Tbk - Indonesia
- South Luzon Thermal Energy Corporation
- Timah Investasi Mineral - Indoneisa
- Indika Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- Agrawal Coal Company - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Iligan Light & Power Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Semirara Mining Corp, Philippines
- Thai Mozambique Logistica
- SMC Global Power, Philippines
- Ceylon Electricity Board - Sri Lanka
- Ministry of Finance - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Ambuja Cements Ltd - India
- Eastern Energy - Thailand
- Miang Besar Coal Terminal - Indonesia
- Banpu Public Company Limited - Thailand
- Maharashtra Electricity Regulatory Commission - India
- GAC Shipping (India) Pvt Ltd
- Heidelberg Cement - Germany
- Global Green Power PLC Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Holcim Trading Pte Ltd - Singapore
- Rio Tinto Coal - Australia
- GN Power Mariveles Coal Plant, Philippines
- Tamil Nadu electricity Board
- Economic Council, Georgia
- LBH Netherlands Bv - Netherlands
- The Treasury - Australian Government
- Bhatia International Limited - India
- Bukit Baiduri Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Marubeni Corporation - India
- London Commodity Brokers - England
- Australian Commodity Traders Exchange
- Vedanta Resources Plc - India
- Coalindo Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Aditya Birla Group - India
- TeaM Sual Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- Ind-Barath Power Infra Limited - India
- CIMB Investment Bank - Malaysia
- Mercator Lines Limited - India
- Global Business Power Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PTC India Limited - India
- Interocean Group of Companies - India
- Bangladesh Power Developement Board
- Samtan Co., Ltd - South Korea
- Jaiprakash Power Ventures ltd
- Globalindo Alam Lestari - Indonesia
- Intertek Mineral Services - Indonesia
- Star Paper Mills Limited - India
- Georgia Ports Authority, United States
- Electricity Authority, New Zealand
- IHS Mccloskey Coal Group - USA
- Bulk Trading Sa - Switzerland
- Manunggal Multi Energi - Indonesia
- Oldendorff Carriers - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Electricity Generating Authority of Thailand
- Asmin Koalindo Tuhup - Indonesia
- Energy Link Ltd, New Zealand
- Kaltim Prima Coal - Indonesia
- Simpson Spence & Young - Indonesia
- VISA Power Limited - India
- San Jose City I Power Corp, Philippines
- Sinarmas Energy and Mining - Indonesia
- Indogreen Group - Indonesia
- Coastal Gujarat Power Limited - India
- Sojitz Corporation - Japan
- Gujarat Sidhee Cement - India
- Merrill Lynch Commodities Europe
- PowerSource Philippines DevCo
- Bank of Tokyo Mitsubishi UFJ Ltd
- Carbofer General Trading SA - India
- Antam Resourcindo - Indonesia
- Standard Chartered Bank - UAE
- Malabar Cements Ltd - India
- Bharathi Cement Corporation - India
- Tata Chemicals Ltd - India
- Jindal Steel & Power Ltd - India
- Thiess Contractors Indonesia
- Krishnapatnam Port Company Ltd. - India
- Maheswari Brothers Coal Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- India Bulls Power Limited - India
- Goldman Sachs - Singapore
- Vizag Seaport Private Limited - India
- Uttam Galva Steels Limited - India
- Straits Asia Resources Limited - Singapore
- Metalloyd Limited - United Kingdom
- Riau Bara Harum - Indonesia
- Anglo American - United Kingdom
- Karbindo Abesyapradhi - Indoneisa
- Indo Tambangraya Megah - Indonesia
- Wood Mackenzie - Singapore
- Kobexindo Tractors - Indoneisa
- Billiton Holdings Pty Ltd - Australia
- The State Trading Corporation of India Ltd
- Therma Luzon, Inc, Philippines
- Barasentosa Lestari - Indonesia
- Central Java Power - Indonesia
- Sree Jayajothi Cements Limited - India
- McConnell Dowell - Australia
- Central Electricity Authority - India
- CNBM International Corporation - China
- Kumho Petrochemical, South Korea
- Grasim Industreis Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Siam City Cement PLC, Thailand
- Ministry of Mines - Canada
- Orica Mining Services - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Deloitte Consulting - India
- GVK Power & Infra Limited - India
- Parliament of New Zealand
- Madhucon Powers Ltd - India
- MS Steel International - UAE
- Edison Trading Spa - Italy
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Posco Energy - South Korea
- SMG Consultants - Indonesia
- Baramulti Group, Indonesia
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