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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, 21 February 13
SPRING COAL PROCUREMENT 2013 IS ABOUT TO TAKE PLACE
In 2012, “Steady Growth” had set the keynote for China’s economic development. Guided by the principle of progressing steadily, do ...
Wednesday, 20 February 13
BAKRIE GROUP LOOKS TO HAVE A CLEAR UPPER HAND - LUCKY ARIESANDI, CFA
The Bakrie-Rothschild saga is entering its final stage, with Bumi Plc (BUMI LN)’s holders to convene on 21 Feb at 11am GMT to vote on Nat Roth ...
Tuesday, 19 February 13
NEWCASTLE PORT SHIPPED 38.65 PERCENT LESS COAL W-O-W
COALspot.com - Newcastle port in Australia has loaded 1,820,559 MT of thermal and coking coal for week ended 0700 hours 18 February 2013, Newc ...
Monday, 18 February 13
78.75 MILLION TONS OF COAL RESERVES ARE NEWLY PROVEN IN WUGANG HUNAN PROVINCE
COALspot.com - Recently, Wugang City, known as the CHINA hundred key coal producing cities, achieved new breakthroughs in coal exploration: deep coa ...
Sunday, 17 February 13
STEEL DEMAND WILL HELP TO PUSH UP FREIGHT RATES - VISTAAR
COALspot.com - This freight market has been fairly steady week ended 15 February 2013.
The BDI was slightly up by 0.67 pct closing at 753 points ...
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- Binh Thuan Hamico - Vietnam
- Bahari Cakrawala Sebuku - Indonesia
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- Jindal Steel & Power Ltd - India
- Sical Logistics Limited - India
- Kapuas Tunggal Persada - Indonesia
- SMG Consultants - Indonesia
- Gujarat Mineral Development Corp Ltd - India
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- Australian Coal Association
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- Bulk Trading Sa - Switzerland
- SN Aboitiz Power Inc, Philippines
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- The Treasury - Australian Government
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- Vedanta Resources Plc - India
- Kartika Selabumi Mining - Indonesia
- Madhucon Powers Ltd - India
- Minerals Council of Australia
- Tata Chemicals Ltd - India
- Ind-Barath Power Infra Limited - India
- Africa Commodities Group - South Africa
- ASAPP Information Group - India
- Bhoruka Overseas - Indonesia
- Chamber of Mines of South Africa
- Jorong Barutama Greston.PT - Indonesia
- Aditya Birla Group - India
- Bhushan Steel Limited - India
- International Coal Ventures Pvt Ltd - India
- Mjunction Services Limited - India
- Posco Energy - South Korea
- Makarim & Taira - Indonesia
- Economic Council, Georgia
- Maharashtra Electricity Regulatory Commission - India
- Georgia Ports Authority, United States
- CIMB Investment Bank - Malaysia
- Vijayanagar Sugar Pvt Ltd - India
- Indika Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Manunggal Multi Energi - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Price Waterhouse Coopers - Russia
- Coal and Oil Company - UAE
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Coalindo Energy - Indonesia
- Anglo American - United Kingdom
- Independent Power Producers Association of India
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- Renaissance Capital - South Africa
- New Zealand Coal & Carbon
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- Bank of Tokyo Mitsubishi UFJ Ltd
- Planning Commission, India
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- GAC Shipping (India) Pvt Ltd
- Siam City Cement PLC, Thailand
- Jaiprakash Power Ventures ltd
- Directorate General of MIneral and Coal - Indonesia
- San Jose City I Power Corp, Philippines
- MS Steel International - UAE
- Baramulti Group, Indonesia
- The University of Queensland
- PetroVietnam Power Coal Import and Supply Company
- Alfred C Toepfer International GmbH - Germany
- Aboitiz Power Corporation - Philippines
- AsiaOL BioFuels Corp., Philippines
- Tamil Nadu electricity Board
- Commonwealth Bank - Australia
- Carbofer General Trading SA - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Singapore Mercantile Exchange
- Siam City Cement - Thailand
- Attock Cement Pakistan Limited
- Merrill Lynch Commodities Europe
- Maheswari Brothers Coal Limited - India
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- The State Trading Corporation of India Ltd
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- PTC India Limited - India
- Sindya Power Generating Company Private Ltd
- Eastern Energy - Thailand
- Indonesian Coal Mining Association
- Agrawal Coal Company - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Medco Energi Mining Internasional
- Ministry of Transport, Egypt
- Mintek Dendrill Indonesia
- Indian Oil Corporation Limited
- Central Java Power - Indonesia
- VISA Power Limited - India
- Meralco Power Generation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- SMC Global Power, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Mines - Canada
- IEA Clean Coal Centre - UK
- Bukit Baiduri Energy - Indonesia
- Energy Development Corp, Philippines
- Sinarmas Energy and Mining - Indonesia
- European Bulk Services B.V. - Netherlands
- Electricity Authority, New Zealand
- Electricity Generating Authority of Thailand
- Videocon Industries ltd - India
- Indogreen Group - Indonesia
- Heidelberg Cement - Germany
- Toyota Tsusho Corporation, Japan
- Power Finance Corporation Ltd., India
- Cigading International Bulk Terminal - Indonesia
- Intertek Mineral Services - Indonesia
- McConnell Dowell - Australia
- CNBM International Corporation - China
- Parry Sugars Refinery, India
- Semirara Mining and Power Corporation, Philippines
- Kumho Petrochemical, South Korea
- Formosa Plastics Group - Taiwan
- Rio Tinto Coal - Australia
- Pendopo Energi Batubara - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Mercuria Energy - Indonesia
- Gujarat Sidhee Cement - India
- Star Paper Mills Limited - India
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- Karaikal Port Pvt Ltd - India
- Petron Corporation, Philippines
- Ministry of Finance - Indonesia
- IHS Mccloskey Coal Group - USA
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- Bayan Resources Tbk. - Indonesia
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- PNOC Exploration Corporation - Philippines
- Energy Link Ltd, New Zealand
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- White Energy Company Limited
- Barasentosa Lestari - Indonesia
- Indo Tambangraya Megah - Indonesia
- Orica Australia Pty. Ltd.
- Global Green Power PLC Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Samtan Co., Ltd - South Korea
- Trasteel International SA, Italy
- Larsen & Toubro Limited - India
- Borneo Indobara - Indonesia
- Bukit Makmur.PT - Indonesia
- Parliament of New Zealand
- GN Power Mariveles Coal Plant, Philippines
- London Commodity Brokers - England
- LBH Netherlands Bv - Netherlands
- Wood Mackenzie - Singapore
- Leighton Contractors Pty Ltd - Australia
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- Eastern Coal Council - USA
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- GVK Power & Infra Limited - India
- Standard Chartered Bank - UAE
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