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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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Saturday, 11 February 12
WILL HISTORY REPEAT ITSELF IN THIS SHIPPING CYCLE? - CLARKSONS / HELLENIC SHIPPING
A slightly dubious "best man" joke runs as follows… Best man (giving his wedding speech): "Have you noticed how history repeat ...
Friday, 10 February 12
TONNAGE KEEPS ON COMING - DREWRY
Drewry Maritime Research’s latest edition of its Dry Bulk Forecaster pulls no punches in its assessment of a market that looks certain to cont ...
Friday, 10 February 12
GIVE PERMIT POWERS TO GOVERNORS: MINERS - THE JAKARTA POST
The Jakarta Post reported that, following clashes between mining companies and local residents, the Indonesian Mining Association (IMA) wants to tra ...
Thursday, 09 February 12
AUSTRALIA'S EPIC TO ACQUIRE 15,500 HA COAL EXPLORATION LICENCES IN EAST KALIMANTAN, INDONESIA
COALspot.com - Epic Resources Limited to acquire two coal concessions in Kutai Barat regency, East Kalimantan, Indonesia.
According to company's ...
Thursday, 09 February 12
RESOURCE ALAM BUYS 28,521HA CONCESSIONS - INSIDER STORIES
Insider Stories reported that, PT Resource Alam Indonesia Tbk (KKGI), owned by Adijanto family, today announced acquisition of 75% interest in PT Ka ...
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- Petrochimia International Co. Ltd.- Taiwan
- Timah Investasi Mineral - Indoneisa
- Edison Trading Spa - Italy
- Ministry of Mines - Canada
- Bayan Resources Tbk. - Indonesia
- Indian Oil Corporation Limited
- GN Power Mariveles Coal Plant, Philippines
- Global Business Power Corporation, Philippines
- SMG Consultants - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Africa Commodities Group - South Africa
- Orica Mining Services - Indonesia
- Baramulti Group, Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- CNBM International Corporation - China
- Offshore Bulk Terminal Pte Ltd, Singapore
- Georgia Ports Authority, United States
- Indo Tambangraya Megah - Indonesia
- Wilmar Investment Holdings
- Kalimantan Lumbung Energi - Indonesia
- Global Coal Blending Company Limited - Australia
- Maharashtra Electricity Regulatory Commission - India
- Essar Steel Hazira Ltd - India
- Coal and Oil Company - UAE
- Manunggal Multi Energi - Indonesia
- Energy Development Corp, Philippines
- Gujarat Electricity Regulatory Commission - India
- Star Paper Mills Limited - India
- Directorate General of MIneral and Coal - Indonesia
- European Bulk Services B.V. - Netherlands
- Asmin Koalindo Tuhup - Indonesia
- Commonwealth Bank - Australia
- Medco Energi Mining Internasional
- Sarangani Energy Corporation, Philippines
- Cement Manufacturers Association - India
- Antam Resourcindo - Indonesia
- Coastal Gujarat Power Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Heidelberg Cement - Germany
- Riau Bara Harum - Indonesia
- Directorate Of Revenue Intelligence - India
- Karaikal Port Pvt Ltd - India
- Singapore Mercantile Exchange
- Chettinad Cement Corporation Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Bhatia International Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Ministry of Transport, Egypt
- Jaiprakash Power Ventures ltd
- Ambuja Cements Ltd - India
- Maheswari Brothers Coal Limited - India
- Kobexindo Tractors - Indoneisa
- New Zealand Coal & Carbon
- ASAPP Information Group - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Thai Mozambique Logistica
- Eastern Coal Council - USA
- Trasteel International SA, Italy
- Aditya Birla Group - India
- Neyveli Lignite Corporation Ltd, - India
- PTC India Limited - India
- Sojitz Corporation - Japan
- Wood Mackenzie - Singapore
- Parliament of New Zealand
- Ministry of Finance - Indonesia
- The State Trading Corporation of India Ltd
- GMR Energy Limited - India
- Savvy Resources Ltd - HongKong
- Alfred C Toepfer International GmbH - Germany
- SMC Global Power, Philippines
- Mjunction Services Limited - India
- Price Waterhouse Coopers - Russia
- Iligan Light & Power Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Siam City Cement PLC, Thailand
- Ceylon Electricity Board - Sri Lanka
- Parry Sugars Refinery, India
- Leighton Contractors Pty Ltd - Australia
- Bulk Trading Sa - Switzerland
- Samtan Co., Ltd - South Korea
- Altura Mining Limited, Indonesia
- IEA Clean Coal Centre - UK
- ICICI Bank Limited - India
- Kaltim Prima Coal - Indonesia
- Energy Link Ltd, New Zealand
- Anglo American - United Kingdom
- Therma Luzon, Inc, Philippines
- GVK Power & Infra Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Standard Chartered Bank - UAE
- South Luzon Thermal Energy Corporation
- Cigading International Bulk Terminal - Indonesia
- Xindia Steels Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Uttam Galva Steels Limited - India
- Intertek Mineral Services - Indonesia
- Indika Energy - Indonesia
- VISA Power Limited - India
- Sical Logistics Limited - India
- Power Finance Corporation Ltd., India
- Merrill Lynch Commodities Europe
- Meenaskhi Energy Private Limited - India
- Central Java Power - Indonesia
- Videocon Industries ltd - India
- International Coal Ventures Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- PowerSource Philippines DevCo
- Mercator Lines Limited - India
- Semirara Mining and Power Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- MS Steel International - UAE
- Central Electricity Authority - India
- CIMB Investment Bank - Malaysia
- Holcim Trading Pte Ltd - Singapore
- Agrawal Coal Company - India
- PetroVietnam Power Coal Import and Supply Company
- Rio Tinto Coal - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Siam City Cement - Thailand
- Romanian Commodities Exchange
- Renaissance Capital - South Africa
- Makarim & Taira - Indonesia
- Tamil Nadu electricity Board
- Straits Asia Resources Limited - Singapore
- Sree Jayajothi Cements Limited - India
- Globalindo Alam Lestari - Indonesia
- Marubeni Corporation - India
- Sinarmas Energy and Mining - Indonesia
- Toyota Tsusho Corporation, Japan
- Bangladesh Power Developement Board
- PNOC Exploration Corporation - Philippines
- Electricity Generating Authority of Thailand
- Madhucon Powers Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Chamber of Mines of South Africa
- Petron Corporation, Philippines
- Tata Chemicals Ltd - India
- McConnell Dowell - Australia
- Metalloyd Limited - United Kingdom
- Billiton Holdings Pty Ltd - Australia
- Sindya Power Generating Company Private Ltd
- Simpson Spence & Young - Indonesia
- London Commodity Brokers - England
- Kapuas Tunggal Persada - Indonesia
- Kumho Petrochemical, South Korea
- Salva Resources Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Formosa Plastics Group - Taiwan
- IHS Mccloskey Coal Group - USA
- Bhoruka Overseas - Indonesia
- Semirara Mining Corp, Philippines
- Dalmia Cement Bharat India
- The University of Queensland
- Grasim Industreis Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Bukit Makmur.PT - Indonesia
- Bukit Baiduri Energy - Indonesia
- Mintek Dendrill Indonesia
- Jindal Steel & Power Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Barasentosa Lestari - Indonesia
- India Bulls Power Limited - India
- Mercuria Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- San Jose City I Power Corp, Philippines
- SN Aboitiz Power Inc, Philippines
- Planning Commission, India
- Gujarat Sidhee Cement - India
- Lanco Infratech Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Bhushan Steel Limited - India
- Indogreen Group - Indonesia
- Eastern Energy - Thailand
- White Energy Company Limited
- Global Green Power PLC Corporation, Philippines
- Posco Energy - South Korea
- Interocean Group of Companies - India
- Economic Council, Georgia
- Carbofer General Trading SA - India
- Pipit Mutiara Jaya. PT, Indonesia
- Thiess Contractors Indonesia
- Indian Energy Exchange, India
- Larsen & Toubro Limited - India
- Minerals Council of Australia
- Meralco Power Generation, Philippines
- Port Waratah Coal Services - Australia
- GAC Shipping (India) Pvt Ltd
- Bharathi Cement Corporation - India
- The Treasury - Australian Government
- Vizag Seaport Private Limited - India
- Borneo Indobara - Indonesia
- Electricity Authority, New Zealand
- Deloitte Consulting - India
- Vijayanagar Sugar Pvt Ltd - India
- Attock Cement Pakistan Limited
- Independent Power Producers Association of India
- Pendopo Energi Batubara - Indonesia
- Sakthi Sugars Limited - India
- Banpu Public Company Limited - Thailand
- Australian Commodity Traders Exchange
- OPG Power Generation Pvt Ltd - India
- Malabar Cements Ltd - India
- Aboitiz Power Corporation - Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Australian Coal Association
- Goldman Sachs - Singapore
- Indonesian Coal Mining Association
- Orica Australia Pty. Ltd.
- Latin American Coal - Colombia
- Vedanta Resources Plc - India
- Ind-Barath Power Infra Limited - India
- Coalindo Energy - Indonesia
- TeaM Sual Corporation - Philippines
- Miang Besar Coal Terminal - Indonesia
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