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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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Thursday, 15 July 10
NO IMPROVEMENT IN THE DRY BULK MARKET - INTERMODAL
Broker’s insight
With the Baltic Dry Index today (13/7/2010) standing at 1,790 points - the lowest point since early May 2009 - ...
Thursday, 15 July 10
IRON ORE PRICING MECHANISMS PUT ON THE SPOT
THE new iron ore pricing mechanisms that killed off the annual benchmark system are coming under pressure. The spot price of the steel feed has fall ...
Thursday, 15 July 10
NTPC TO PURSUE COAL MINE ACQUISITION IN AUSTRALIA, INDONESIA - BUSINESS STANDARD
Business-Standard reported that, NTPC, the India’s largest power producer, has set the ball rolling to acquire coal mines or form joint ventur ...
Wednesday, 14 July 10
SUCCESSFUL COMMISSIONING OF GTLE LOW RANK COAL UPGRADING PLANT
COALspot.com: GTL Energy Ltd (GTL Energy) announced that construction and commissioning of its proprietary ‘first-of-a-kind’, low rank c ...
Tuesday, 13 July 10
BUMI TO PRODUCE MORE THAN 67 MILLION TONS OF COAL IN 2010
COALspot.com: Bumi resources, Indonesia’s largest coal producer has previewed its operating results in KPC/Arutmin for Jan – Jun 2010. A ...
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- Kideco Jaya Agung - Indonesia
- Makarim & Taira - Indonesia
- Marubeni Corporation - India
- Straits Asia Resources Limited - Singapore
- Romanian Commodities Exchange
- Port Waratah Coal Services - Australia
- White Energy Company Limited
- Bhushan Steel Limited - India
- Africa Commodities Group - South Africa
- PNOC Exploration Corporation - Philippines
- TeaM Sual Corporation - Philippines
- Wood Mackenzie - Singapore
- Heidelberg Cement - Germany
- Renaissance Capital - South Africa
- Tamil Nadu electricity Board
- Uttam Galva Steels Limited - India
- Malabar Cements Ltd - India
- Sree Jayajothi Cements Limited - India
- GMR Energy Limited - India
- VISA Power Limited - India
- SMC Global Power, Philippines
- Simpson Spence & Young - Indonesia
- Manunggal Multi Energi - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vizag Seaport Private Limited - India
- Mercuria Energy - Indonesia
- SMG Consultants - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Sical Logistics Limited - India
- Altura Mining Limited, Indonesia
- New Zealand Coal & Carbon
- ICICI Bank Limited - India
- Aboitiz Power Corporation - Philippines
- Bhatia International Limited - India
- Coal and Oil Company - UAE
- Kobexindo Tractors - Indoneisa
- Gujarat Electricity Regulatory Commission - India
- Banpu Public Company Limited - Thailand
- Posco Energy - South Korea
- Independent Power Producers Association of India
- European Bulk Services B.V. - Netherlands
- Global Business Power Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Madhucon Powers Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Eastern Coal Council - USA
- Indian Oil Corporation Limited
- Kepco SPC Power Corporation, Philippines
- Oldendorff Carriers - Singapore
- Cigading International Bulk Terminal - Indonesia
- Standard Chartered Bank - UAE
- Gujarat Mineral Development Corp Ltd - India
- Gujarat Sidhee Cement - India
- Holcim Trading Pte Ltd - Singapore
- Ceylon Electricity Board - Sri Lanka
- Globalindo Alam Lestari - Indonesia
- Borneo Indobara - Indonesia
- Petron Corporation, Philippines
- ASAPP Information Group - India
- Binh Thuan Hamico - Vietnam
- TNB Fuel Sdn Bhd - Malaysia
- CNBM International Corporation - China
- International Coal Ventures Pvt Ltd - India
- Sojitz Corporation - Japan
- GAC Shipping (India) Pvt Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Bukit Baiduri Energy - Indonesia
- Chamber of Mines of South Africa
- San Jose City I Power Corp, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Merrill Lynch Commodities Europe
- Ministry of Transport, Egypt
- Grasim Industreis Ltd - India
- Timah Investasi Mineral - Indoneisa
- Star Paper Mills Limited - India
- Carbofer General Trading SA - India
- Siam City Cement PLC, Thailand
- Kohat Cement Company Ltd. - Pakistan
- MS Steel International - UAE
- AsiaOL BioFuels Corp., Philippines
- Miang Besar Coal Terminal - Indonesia
- Planning Commission, India
- Meralco Power Generation, Philippines
- Anglo American - United Kingdom
- Asmin Koalindo Tuhup - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Neyveli Lignite Corporation Ltd, - India
- Ministry of Finance - Indonesia
- Australian Coal Association
- Formosa Plastics Group - Taiwan
- Pipit Mutiara Jaya. PT, Indonesia
- Bukit Makmur.PT - Indonesia
- Global Coal Blending Company Limited - Australia
- Savvy Resources Ltd - HongKong
- Videocon Industries ltd - India
- Energy Link Ltd, New Zealand
- Kalimantan Lumbung Energi - Indonesia
- Australian Commodity Traders Exchange
- Karbindo Abesyapradhi - Indoneisa
- Parliament of New Zealand
- Coalindo Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- McConnell Dowell - Australia
- India Bulls Power Limited - India
- Thai Mozambique Logistica
- Bhoruka Overseas - Indonesia
- Siam City Cement - Thailand
- Kartika Selabumi Mining - Indonesia
- Commonwealth Bank - Australia
- Eastern Energy - Thailand
- Directorate General of MIneral and Coal - Indonesia
- Toyota Tsusho Corporation, Japan
- Meenaskhi Energy Private Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sakthi Sugars Limited - India
- Parry Sugars Refinery, India
- Directorate Of Revenue Intelligence - India
- Energy Development Corp, Philippines
- Indonesian Coal Mining Association
- Medco Energi Mining Internasional
- Ind-Barath Power Infra Limited - India
- Kumho Petrochemical, South Korea
- PetroVietnam Power Coal Import and Supply Company
- Central Electricity Authority - India
- Agrawal Coal Company - India
- Wilmar Investment Holdings
- The State Trading Corporation of India Ltd
- London Commodity Brokers - England
- Mjunction Services Limited - India
- Rashtriya Ispat Nigam Limited - India
- Intertek Mineral Services - Indonesia
- Kaltim Prima Coal - Indonesia
- Therma Luzon, Inc, Philippines
- Deloitte Consulting - India
- Bulk Trading Sa - Switzerland
- Ministry of Mines - Canada
- Coastal Gujarat Power Limited - India
- Sarangani Energy Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Leighton Contractors Pty Ltd - Australia
- Barasentosa Lestari - Indonesia
- Larsen & Toubro Limited - India
- The University of Queensland
- Samtan Co., Ltd - South Korea
- Krishnapatnam Port Company Ltd. - India
- Tata Chemicals Ltd - India
- Jaiprakash Power Ventures ltd
- Sindya Power Generating Company Private Ltd
- Electricity Authority, New Zealand
- Orica Australia Pty. Ltd.
- PowerSource Philippines DevCo
- Vedanta Resources Plc - India
- Sinarmas Energy and Mining - Indonesia
- Attock Cement Pakistan Limited
- PTC India Limited - India
- Mercator Lines Limited - India
- Cement Manufacturers Association - India
- Vijayanagar Sugar Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Essar Steel Hazira Ltd - India
- CIMB Investment Bank - Malaysia
- IHS Mccloskey Coal Group - USA
- Indo Tambangraya Megah - Indonesia
- Singapore Mercantile Exchange
- IEA Clean Coal Centre - UK
- Bharathi Cement Corporation - India
- Riau Bara Harum - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Semirara Mining Corp, Philippines
- Indika Energy - Indonesia
- Rio Tinto Coal - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GN Power Mariveles Coal Plant, Philippines
- Ambuja Cements Ltd - India
- Thiess Contractors Indonesia
- Chettinad Cement Corporation Ltd - India
- Xindia Steels Limited - India
- Goldman Sachs - Singapore
- Baramulti Group, Indonesia
- Lanco Infratech Ltd - India
- Mintek Dendrill Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Orica Mining Services - Indonesia
- Economic Council, Georgia
- Bangladesh Power Developement Board
- Bayan Resources Tbk. - Indonesia
- The Treasury - Australian Government
- Pendopo Energi Batubara - Indonesia
- Edison Trading Spa - Italy
- Georgia Ports Authority, United States
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Aditya Birla Group - India
- Dalmia Cement Bharat India
- Central Java Power - Indonesia
- Jindal Steel & Power Ltd - India
- Indogreen Group - Indonesia
- Trasteel International SA, Italy
- Power Finance Corporation Ltd., India
- Metalloyd Limited - United Kingdom
- Indian Energy Exchange, India
- Global Green Power PLC Corporation, Philippines
- Minerals Council of Australia
- Salva Resources Pvt Ltd - India
- Interocean Group of Companies - India
- Karaikal Port Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Price Waterhouse Coopers - Russia
- Petrochimia International Co. Ltd.- Taiwan
- SN Aboitiz Power Inc, Philippines
- Iligan Light & Power Inc, Philippines
- Maheswari Brothers Coal Limited - India
- Latin American Coal - Colombia
- Jorong Barutama Greston.PT - Indonesia
- Electricity Generating Authority of Thailand
- GVK Power & Infra Limited - India
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