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Tuesday, 29 June 10
EXPORT LETTER OF CREDIT PLAN DUMPED - THE JAKARTA GLOBE
The Jakartaglobe reported that, Indonesia has canceled a proposed regulation that would have required exporters of commodities such as cocoa, coffee, rubber, palm oil and mining products to use a letter of credit from local banks for export transactions worth more than $1 million.
The government issued the regulation in April 2009 and it was set to take effect on July 1. It was intended to support the rupiah by ensuring revenue from commodity exports was kept onshore.
The Ministry of Trade originally delayed the introduction of the regulation from Sept. 1 to Nov. 1. Implementation was subsequently postponed again, to July 1.
“Based on evaluations, the regulation is no longer needed. Thus it is canceled and will not be applied,” the ministry said in a decree signed by Trade Minister Mari Elka Pangestu last Thursday.
The current export reporting system will continue. Under the system, exporters have to submit regular reports of payments received from their overseas buyers to the Trade Ministry.
Sandiaga Uno, managing director of private equity firm Saratoga Capital and a former head of the Indonesian Young Entrepreneurs Association (Hipmi), welcomed the decision.
“I welcome the move because my colleagues, especially in small and mid-sized businesses, have been complaining about the added cost it would bring,” Sandiaga said. Exporters had claimed that obtaining a letter of credit would cost them 0.8 percent of the total transaction.
“We’ve been hoping for a while that it would be canceled,” Sandiaga said.
Jeffrey Mulyono, president director of coal miner PT Bhakti Energi Persada, said the requirement would have undermined normal trade practices and increased costs.
“Why do we need it since there are already standing agreements between importers and exporters?” he said. “It would have only led to an added burden for both exporters and their buyers.”
Source: The Jakarta Globe
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Saturday, 17 July 10
BULLISH OUTLOOK FOR COKING COAL - MINING MX & HELLENIC SHIPPING
Mining Mx reported that, the coking coal market has better long-term fundamentals than the iron ore market, according to a recent research rep ...
Friday, 16 July 10
CHINA EXPORTS 10.14 MILLION TONNES OF COAL IN H1 OF 2010
China exported 10.14 million tonnes of coal in the first half of this year, down 13.1% compared with the corresponding period of last year, accordin ...
Thursday, 15 July 10
SMC TO PURSUE MINDANAO COAL MINING PROJECTS
Philippine Daily Inquirer reported that, DIVERSIFYING CONGLOMERATE San Miguel Corp. is inclined to pursue its coal mining projects in Mindanao ...
Thursday, 15 July 10
ADANI ENTERPRISES WILL BUY $1 BILLION COAL MINE FROM LINC ENERGY - TOP NEWS
Top News reported that, Adani Enterprises has almost managed to obtain a coal mine from Linc Energy for $1 billion in Queensland, Australia. This mi ...
Thursday, 15 July 10
ADANI TO DEVELOP COAL EXPORT TERMINAL IN AUSTRALIA - BUSINESS STANDARD
Business-Standard reported that, The Adani Group, promoter of Mundra Port and Special Economic Zone (MPSEZ), today said it has been selected as the ...
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- Pipit Mutiara Jaya. PT, Indonesia
- Cigading International Bulk Terminal - Indonesia
- Therma Luzon, Inc, Philippines
- Gujarat Sidhee Cement - India
- Cement Manufacturers Association - India
- Bangladesh Power Developement Board
- San Jose City I Power Corp, Philippines
- Miang Besar Coal Terminal - Indonesia
- Vizag Seaport Private Limited - India
- Star Paper Mills Limited - India
- Uttam Galva Steels Limited - India
- Oldendorff Carriers - Singapore
- PNOC Exploration Corporation - Philippines
- Bukit Baiduri Energy - Indonesia
- Ministry of Mines - Canada
- Kepco SPC Power Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Petron Corporation, Philippines
- Anglo American - United Kingdom
- Central Electricity Authority - India
- Kumho Petrochemical, South Korea
- Alfred C Toepfer International GmbH - Germany
- GAC Shipping (India) Pvt Ltd
- Madhucon Powers Ltd - India
- Central Java Power - Indonesia
- India Bulls Power Limited - India
- Bulk Trading Sa - Switzerland
- Videocon Industries ltd - India
- ICICI Bank Limited - India
- Mjunction Services Limited - India
- TeaM Sual Corporation - Philippines
- Bhushan Steel Limited - India
- Standard Chartered Bank - UAE
- Eastern Energy - Thailand
- Wilmar Investment Holdings
- Timah Investasi Mineral - Indoneisa
- Global Business Power Corporation, Philippines
- Bhatia International Limited - India
- Price Waterhouse Coopers - Russia
- Baramulti Group, Indonesia
- OPG Power Generation Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Tata Chemicals Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Sindya Power Generating Company Private Ltd
- Mercator Lines Limited - India
- Manunggal Multi Energi - Indonesia
- Bukit Makmur.PT - Indonesia
- Kobexindo Tractors - Indoneisa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Trasteel International SA, Italy
- Offshore Bulk Terminal Pte Ltd, Singapore
- Jindal Steel & Power Ltd - India
- Sojitz Corporation - Japan
- Mintek Dendrill Indonesia
- Kartika Selabumi Mining - Indonesia
- Siam City Cement PLC, Thailand
- Deloitte Consulting - India
- London Commodity Brokers - England
- GVK Power & Infra Limited - India
- Ministry of Finance - Indonesia
- Independent Power Producers Association of India
- Rashtriya Ispat Nigam Limited - India
- Thiess Contractors Indonesia
- Coastal Gujarat Power Limited - India
- Formosa Plastics Group - Taiwan
- CNBM International Corporation - China
- Holcim Trading Pte Ltd - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Energy Development Corp, Philippines
- Indonesian Coal Mining Association
- Kaltim Prima Coal - Indonesia
- Africa Commodities Group - South Africa
- Orica Mining Services - Indonesia
- Edison Trading Spa - Italy
- Neyveli Lignite Corporation Ltd, - India
- Binh Thuan Hamico - Vietnam
- Ministry of Transport, Egypt
- Pendopo Energi Batubara - Indonesia
- Georgia Ports Authority, United States
- Directorate Of Revenue Intelligence - India
- SMG Consultants - Indonesia
- Indo Tambangraya Megah - Indonesia
- Krishnapatnam Port Company Ltd. - India
- GMR Energy Limited - India
- Chettinad Cement Corporation Ltd - India
- Antam Resourcindo - Indonesia
- Carbofer General Trading SA - India
- Siam City Cement - Thailand
- Coalindo Energy - Indonesia
- Borneo Indobara - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- MS Steel International - UAE
- Altura Mining Limited, Indonesia
- Bayan Resources Tbk. - Indonesia
- Wood Mackenzie - Singapore
- Bharathi Cement Corporation - India
- Rio Tinto Coal - Australia
- Meenaskhi Energy Private Limited - India
- IHS Mccloskey Coal Group - USA
- IEA Clean Coal Centre - UK
- South Luzon Thermal Energy Corporation
- Thai Mozambique Logistica
- Semirara Mining Corp, Philippines
- International Coal Ventures Pvt Ltd - India
- Romanian Commodities Exchange
- PowerSource Philippines DevCo
- Gujarat Electricity Regulatory Commission - India
- LBH Netherlands Bv - Netherlands
- Mercuria Energy - Indonesia
- Bhoruka Overseas - Indonesia
- White Energy Company Limited
- Aboitiz Power Corporation - Philippines
- Salva Resources Pvt Ltd - India
- Agrawal Coal Company - India
- Semirara Mining and Power Corporation, Philippines
- Larsen & Toubro Limited - India
- Minerals Council of Australia
- New Zealand Coal & Carbon
- Electricity Authority, New Zealand
- AsiaOL BioFuels Corp., Philippines
- Global Coal Blending Company Limited - Australia
- Interocean Group of Companies - India
- Parliament of New Zealand
- Jorong Barutama Greston.PT - Indonesia
- Maheswari Brothers Coal Limited - India
- Sical Logistics Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Intertek Mineral Services - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- GN Power Mariveles Coal Plant, Philippines
- Essar Steel Hazira Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Metalloyd Limited - United Kingdom
- Vedanta Resources Plc - India
- Billiton Holdings Pty Ltd - Australia
- Aditya Birla Group - India
- Port Waratah Coal Services - Australia
- Planning Commission, India
- Karaikal Port Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- VISA Power Limited - India
- Indika Energy - Indonesia
- Tamil Nadu electricity Board
- Banpu Public Company Limited - Thailand
- Sakthi Sugars Limited - India
- Grasim Industreis Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Energy Link Ltd, New Zealand
- Globalindo Alam Lestari - Indonesia
- McConnell Dowell - Australia
- Indian Oil Corporation Limited
- Makarim & Taira - Indonesia
- Leighton Contractors Pty Ltd - Australia
- The State Trading Corporation of India Ltd
- Orica Australia Pty. Ltd.
- Sarangani Energy Corporation, Philippines
- Posco Energy - South Korea
- SMC Global Power, Philippines
- Electricity Generating Authority of Thailand
- Xindia Steels Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Lanco Infratech Ltd - India
- Latin American Coal - Colombia
- Toyota Tsusho Corporation, Japan
- Heidelberg Cement - Germany
- Vijayanagar Sugar Pvt Ltd - India
- Dalmia Cement Bharat India
- Iligan Light & Power Inc, Philippines
- Savvy Resources Ltd - HongKong
- Eastern Coal Council - USA
- Straits Asia Resources Limited - Singapore
- Simpson Spence & Young - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Ambuja Cements Ltd - India
- Attock Cement Pakistan Limited
- The University of Queensland
- PTC India Limited - India
- Renaissance Capital - South Africa
- Medco Energi Mining Internasional
- Power Finance Corporation Ltd., India
- Global Green Power PLC Corporation, Philippines
- Commonwealth Bank - Australia
- Jaiprakash Power Ventures ltd
- Bahari Cakrawala Sebuku - Indonesia
- Kideco Jaya Agung - Indonesia
- Singapore Mercantile Exchange
- Australian Commodity Traders Exchange
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Australian Coal Association
- Ind-Barath Power Infra Limited - India
- Sree Jayajothi Cements Limited - India
- Parry Sugars Refinery, India
- Indogreen Group - Indonesia
- Meralco Power Generation, Philippines
- Goldman Sachs - Singapore
- Coal and Oil Company - UAE
- Barasentosa Lestari - Indonesia
- Merrill Lynch Commodities Europe
- European Bulk Services B.V. - Netherlands
- Kapuas Tunggal Persada - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Malabar Cements Ltd - India
- Samtan Co., Ltd - South Korea
- Economic Council, Georgia
- The Treasury - Australian Government
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Indian Energy Exchange, India
- ASAPP Information Group - India
- TNB Fuel Sdn Bhd - Malaysia
- Chamber of Mines of South Africa
- CIMB Investment Bank - Malaysia
- Marubeni Corporation - India
- Sinarmas Energy and Mining - Indonesia
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