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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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Tuesday, 13 July 10
FURTHER LOSSES FOR BALTIC DRY INDEX ON HIGH VESSEL SUPPLY
The dry bulk market can’t catch a breath, as it has now entered the 7th straight week of losses. The industry’s benchmark, the Baltic Dr ...
Sunday, 11 July 10
OVERALL NO OR NEGLIGIBLE IMPACT IN ARUTMIN MINE - BUMI
COALspot.com: Bumi denies the media reports on an impact of unusually rains on coal production in BUMI mines.
"Arutmin is being impacted by ...
Saturday, 10 July 10
FREIGHT MARKET SITUATION MAY CONTINUE FOR NEXT COUPLE OF WEEKS - VISTAAR
COALspot.com: The market continued to soften further with the cape and panamax index down by about 20 pct and closed at 2,102 and 1,944 points respe ...
Saturday, 10 July 10
STC OF INDIA TO ASSOCIATE WITH FUEL SUPPLIERS
COALspot.com: State Trading corporation of India, which is under Ministry of Commerce, has invited Expression of Interest from coal suppliers ...
Saturday, 10 July 10
SCOMI TO SELL STAKE IN INDONESIA OPS - THE STAR
The star online reported that, Scomi Marine Bhd will sell a stake in its marine logistics business in Indonesia to a large Indonesian company to dea ...
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- European Bulk Services B.V. - Netherlands
- Renaissance Capital - South Africa
- Dalmia Cement Bharat India
- Bahari Cakrawala Sebuku - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Kohat Cement Company Ltd. - Pakistan
- Vizag Seaport Private Limited - India
- Straits Asia Resources Limited - Singapore
- Orica Mining Services - Indonesia
- GAC Shipping (India) Pvt Ltd
- Baramulti Group, Indonesia
- Sinarmas Energy and Mining - Indonesia
- Uttam Galva Steels Limited - India
- SMG Consultants - Indonesia
- Coalindo Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Sarangani Energy Corporation, Philippines
- Heidelberg Cement - Germany
- PTC India Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Thiess Contractors Indonesia
- Indika Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Bukit Makmur.PT - Indonesia
- Georgia Ports Authority, United States
- Central Electricity Authority - India
- Antam Resourcindo - Indonesia
- TeaM Sual Corporation - Philippines
- Billiton Holdings Pty Ltd - Australia
- Kobexindo Tractors - Indoneisa
- McConnell Dowell - Australia
- Miang Besar Coal Terminal - Indonesia
- SMC Global Power, Philippines
- Globalindo Alam Lestari - Indonesia
- Chamber of Mines of South Africa
- Chettinad Cement Corporation Ltd - India
- Iligan Light & Power Inc, Philippines
- Aditya Birla Group - India
- Leighton Contractors Pty Ltd - Australia
- Simpson Spence & Young - Indonesia
- Mercuria Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- Cement Manufacturers Association - India
- The Treasury - Australian Government
- Grasim Industreis Ltd - India
- Kartika Selabumi Mining - Indonesia
- Parry Sugars Refinery, India
- Kaltim Prima Coal - Indonesia
- Therma Luzon, Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Meenaskhi Energy Private Limited - India
- Binh Thuan Hamico - Vietnam
- Sree Jayajothi Cements Limited - India
- Marubeni Corporation - India
- Electricity Generating Authority of Thailand
- Holcim Trading Pte Ltd - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Power Finance Corporation Ltd., India
- Wilmar Investment Holdings
- Coal and Oil Company - UAE
- Australian Commodity Traders Exchange
- Sical Logistics Limited - India
- Ind-Barath Power Infra Limited - India
- Karbindo Abesyapradhi - Indoneisa
- GVK Power & Infra Limited - India
- The State Trading Corporation of India Ltd
- Manunggal Multi Energi - Indonesia
- Banpu Public Company Limited - Thailand
- Meralco Power Generation, Philippines
- San Jose City I Power Corp, Philippines
- Planning Commission, India
- AsiaOL BioFuels Corp., Philippines
- Videocon Industries ltd - India
- MS Steel International - UAE
- Deloitte Consulting - India
- Semirara Mining Corp, Philippines
- Rashtriya Ispat Nigam Limited - India
- Kepco SPC Power Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Mercator Lines Limited - India
- Sindya Power Generating Company Private Ltd
- Port Waratah Coal Services - Australia
- Parliament of New Zealand
- Madhucon Powers Ltd - India
- Xindia Steels Limited - India
- Indonesian Coal Mining Association
- Trasteel International SA, Italy
- Pipit Mutiara Jaya. PT, Indonesia
- Bharathi Cement Corporation - India
- International Coal Ventures Pvt Ltd - India
- Goldman Sachs - Singapore
- Semirara Mining and Power Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Anglo American - United Kingdom
- OPG Power Generation Pvt Ltd - India
- Minerals Council of Australia
- South Luzon Thermal Energy Corporation
- Bhushan Steel Limited - India
- Kapuas Tunggal Persada - Indonesia
- Romanian Commodities Exchange
- Larsen & Toubro Limited - India
- Bukit Baiduri Energy - Indonesia
- GMR Energy Limited - India
- Ambuja Cements Ltd - India
- Energy Development Corp, Philippines
- Savvy Resources Ltd - HongKong
- Latin American Coal - Colombia
- Africa Commodities Group - South Africa
- Wood Mackenzie - Singapore
- Oldendorff Carriers - Singapore
- Barasentosa Lestari - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Australian Coal Association
- Singapore Mercantile Exchange
- Offshore Bulk Terminal Pte Ltd, Singapore
- Makarim & Taira - Indonesia
- Electricity Authority, New Zealand
- The University of Queensland
- Pendopo Energi Batubara - Indonesia
- SN Aboitiz Power Inc, Philippines
- Interocean Group of Companies - India
- Independent Power Producers Association of India
- Bhoruka Overseas - Indonesia
- Energy Link Ltd, New Zealand
- Salva Resources Pvt Ltd - India
- India Bulls Power Limited - India
- Rio Tinto Coal - Australia
- Timah Investasi Mineral - Indoneisa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Eastern Coal Council - USA
- Bangladesh Power Developement Board
- Intertek Mineral Services - Indonesia
- Indogreen Group - Indonesia
- Bayan Resources Tbk. - Indonesia
- Malabar Cements Ltd - India
- Ceylon Electricity Board - Sri Lanka
- White Energy Company Limited
- TNB Fuel Sdn Bhd - Malaysia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- IHS Mccloskey Coal Group - USA
- Aboitiz Power Corporation - Philippines
- VISA Power Limited - India
- Posco Energy - South Korea
- Metalloyd Limited - United Kingdom
- Mjunction Services Limited - India
- Price Waterhouse Coopers - Russia
- Petron Corporation, Philippines
- Altura Mining Limited, Indonesia
- Sakthi Sugars Limited - India
- Commonwealth Bank - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ministry of Transport, Egypt
- Orica Australia Pty. Ltd.
- Maheswari Brothers Coal Limited - India
- London Commodity Brokers - England
- Gujarat Mineral Development Corp Ltd - India
- Eastern Energy - Thailand
- ASAPP Information Group - India
- Star Paper Mills Limited - India
- Vedanta Resources Plc - India
- Ministry of Mines - Canada
- LBH Netherlands Bv - Netherlands
- Riau Bara Harum - Indonesia
- Borneo Indobara - Indonesia
- Siam City Cement - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Karaikal Port Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Indian Oil Corporation Limited
- Tamil Nadu electricity Board
- Edison Trading Spa - Italy
- Global Coal Blending Company Limited - Australia
- PowerSource Philippines DevCo
- Bhatia International Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Bukit Asam (Persero) Tbk - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Attock Cement Pakistan Limited
- CNBM International Corporation - China
- Jindal Steel & Power Ltd - India
- Toyota Tsusho Corporation, Japan
- Sojitz Corporation - Japan
- Standard Chartered Bank - UAE
- GN Power Mariveles Coal Plant, Philippines
- New Zealand Coal & Carbon
- Tata Chemicals Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Ministry of Finance - Indonesia
- Indian Energy Exchange, India
- PetroVietnam Power Coal Import and Supply Company
- Central Java Power - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Siam City Cement PLC, Thailand
- Lanco Infratech Ltd - India
- Global Business Power Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Gujarat Sidhee Cement - India
- ICICI Bank Limited - India
- Kumho Petrochemical, South Korea
- Indo Tambangraya Megah - Indonesia
- Medco Energi Mining Internasional
- Thai Mozambique Logistica
- Economic Council, Georgia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Carbofer General Trading SA - India
- Mintek Dendrill Indonesia
- Jaiprakash Power Ventures ltd
- Coastal Gujarat Power Limited - India
- Directorate Of Revenue Intelligence - India
- Cigading International Bulk Terminal - Indonesia
- Essar Steel Hazira Ltd - India
- Agrawal Coal Company - India
- IEA Clean Coal Centre - UK
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