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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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Monday, 28 June 10
MEC TO INK COAL-EQUITY SWAP DEALS WITH POWER PROJECTS
Business Line reported that, First it was power producers moving to pick up stakes in coal mining projects to ensure the raw material supplies.
N ...
Monday, 28 June 10
COLOMBIA WILL LIKELY EXPORT 80 MILLION TONNES OF COAL IN 2010
Best Colombia reported that, Mr Hernan Martinez energy and mines minister of Colombia told reporters that Colombia will likely export 80 million ton ...
Monday, 28 June 10
WESFARMERS' SEPT QTR COAL PRICE UP 11% - SMH
SMH reported that, Wesfarmers Ltd says it expects a 11 per cent increase in prices for metallurgical coal from its Curragh mine in Queensland in the ...
Saturday, 26 June 10
THE SUPRAMAX INDEX FOR S6 ROUTE WAS UP BY US$ 1091 PER DAY OR 5.7 PERCENT D-O-D -- VISTAAR
COALspot.com: The market appears to be steadying with all indices almost stabilizing and the drop much less than last two weeks.
The BDI softened ...
Saturday, 26 June 10
MONGOLIA COAL RAILWAY TO LINK WITH RUSSIA - BUSINESS WEEK
Business Week reported that, Mongolian lawmakers have approved plans for a rail line linking with Russia to help tap large coal deposits in the sout ...
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- Samtan Co., Ltd - South Korea
- Global Coal Blending Company Limited - Australia
- Goldman Sachs - Singapore
- Siam City Cement - Thailand
- South Luzon Thermal Energy Corporation
- India Bulls Power Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Gujarat Sidhee Cement - India
- Intertek Mineral Services - Indonesia
- Pendopo Energi Batubara - Indonesia
- Malabar Cements Ltd - India
- ICICI Bank Limited - India
- Simpson Spence & Young - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Borneo Indobara - Indonesia
- Karaikal Port Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Minerals Council of Australia
- Kobexindo Tractors - Indoneisa
- Bharathi Cement Corporation - India
- Riau Bara Harum - Indonesia
- Kaltim Prima Coal - Indonesia
- Eastern Energy - Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bangladesh Power Developement Board
- New Zealand Coal & Carbon
- CIMB Investment Bank - Malaysia
- Tata Chemicals Ltd - India
- Heidelberg Cement - Germany
- Mjunction Services Limited - India
- Kepco SPC Power Corporation, Philippines
- Indika Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Indo Tambangraya Megah - Indonesia
- Kumho Petrochemical, South Korea
- Orica Mining Services - Indonesia
- Bhushan Steel Limited - India
- Ambuja Cements Ltd - India
- Aboitiz Power Corporation - Philippines
- Holcim Trading Pte Ltd - Singapore
- CNBM International Corporation - China
- Sinarmas Energy and Mining - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Formosa Plastics Group - Taiwan
- Thiess Contractors Indonesia
- Jaiprakash Power Ventures ltd
- Rashtriya Ispat Nigam Limited - India
- Binh Thuan Hamico - Vietnam
- Madhucon Powers Ltd - India
- Electricity Authority, New Zealand
- Manunggal Multi Energi - Indonesia
- McConnell Dowell - Australia
- Ceylon Electricity Board - Sri Lanka
- Kapuas Tunggal Persada - Indonesia
- Renaissance Capital - South Africa
- Savvy Resources Ltd - HongKong
- Metalloyd Limited - United Kingdom
- Indian Oil Corporation Limited
- Bayan Resources Tbk. - Indonesia
- Coastal Gujarat Power Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Deloitte Consulting - India
- Leighton Contractors Pty Ltd - Australia
- Semirara Mining Corp, Philippines
- Larsen & Toubro Limited - India
- Alfred C Toepfer International GmbH - Germany
- Sakthi Sugars Limited - India
- Anglo American - United Kingdom
- OPG Power Generation Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Indogreen Group - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- PTC India Limited - India
- Globalindo Alam Lestari - Indonesia
- Maheswari Brothers Coal Limited - India
- Barasentosa Lestari - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Oldendorff Carriers - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Grasim Industreis Ltd - India
- Port Waratah Coal Services - Australia
- Billiton Holdings Pty Ltd - Australia
- The State Trading Corporation of India Ltd
- Makarim & Taira - Indonesia
- San Jose City I Power Corp, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Medco Energi Mining Internasional
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Star Paper Mills Limited - India
- Global Business Power Corporation, Philippines
- Power Finance Corporation Ltd., India
- Planning Commission, India
- Videocon Industries ltd - India
- Ministry of Finance - Indonesia
- Australian Coal Association
- Energy Link Ltd, New Zealand
- Attock Cement Pakistan Limited
- Petron Corporation, Philippines
- Orica Australia Pty. Ltd.
- Economic Council, Georgia
- Latin American Coal - Colombia
- Africa Commodities Group - South Africa
- Edison Trading Spa - Italy
- Singapore Mercantile Exchange
- Bukit Asam (Persero) Tbk - Indonesia
- Kartika Selabumi Mining - Indonesia
- Therma Luzon, Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Cement Manufacturers Association - India
- TNB Fuel Sdn Bhd - Malaysia
- Lanco Infratech Ltd - India
- Standard Chartered Bank - UAE
- Mercuria Energy - Indonesia
- Banpu Public Company Limited - Thailand
- White Energy Company Limited
- Marubeni Corporation - India
- Thai Mozambique Logistica
- Ministry of Mines - Canada
- Kideco Jaya Agung - Indonesia
- Xindia Steels Limited - India
- Rio Tinto Coal - Australia
- Indonesian Coal Mining Association
- Essar Steel Hazira Ltd - India
- Trasteel International SA, Italy
- Maharashtra Electricity Regulatory Commission - India
- Cigading International Bulk Terminal - Indonesia
- Central Electricity Authority - India
- GAC Shipping (India) Pvt Ltd
- PowerSource Philippines DevCo
- AsiaOL BioFuels Corp., Philippines
- GMR Energy Limited - India
- Meenaskhi Energy Private Limited - India
- Straits Asia Resources Limited - Singapore
- Toyota Tsusho Corporation, Japan
- Wood Mackenzie - Singapore
- VISA Power Limited - India
- Georgia Ports Authority, United States
- Chettinad Cement Corporation Ltd - India
- Global Green Power PLC Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bulk Trading Sa - Switzerland
- SMC Global Power, Philippines
- MS Steel International - UAE
- Meralco Power Generation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Mintek Dendrill Indonesia
- Chamber of Mines of South Africa
- Salva Resources Pvt Ltd - India
- Wilmar Investment Holdings
- Miang Besar Coal Terminal - Indonesia
- PNOC Exploration Corporation - Philippines
- Kohat Cement Company Ltd. - Pakistan
- Australian Commodity Traders Exchange
- Iligan Light & Power Inc, Philippines
- The University of Queensland
- European Bulk Services B.V. - Netherlands
- IEA Clean Coal Centre - UK
- Ind-Barath Power Infra Limited - India
- Parry Sugars Refinery, India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Posco Energy - South Korea
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- The Treasury - Australian Government
- Sojitz Corporation - Japan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sree Jayajothi Cements Limited - India
- SMG Consultants - Indonesia
- Ministry of Transport, Egypt
- Coalindo Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Sical Logistics Limited - India
- Sindya Power Generating Company Private Ltd
- Jindal Steel & Power Ltd - India
- GVK Power & Infra Limited - India
- Bhatia International Limited - India
- LBH Netherlands Bv - Netherlands
- Directorate Of Revenue Intelligence - India
- Dalmia Cement Bharat India
- ASAPP Information Group - India
- SN Aboitiz Power Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Krishnapatnam Port Company Ltd. - India
- Independent Power Producers Association of India
- Bukit Baiduri Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Energy Development Corp, Philippines
- Vizag Seaport Private Limited - India
- Carbofer General Trading SA - India
- Directorate General of MIneral and Coal - Indonesia
- Merrill Lynch Commodities Europe
- Petrochimia International Co. Ltd.- Taiwan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Aditya Birla Group - India
- Coal and Oil Company - UAE
- Altura Mining Limited, Indonesia
- IHS Mccloskey Coal Group - USA
- Indian Energy Exchange, India
- Parliament of New Zealand
- Price Waterhouse Coopers - Russia
- Bhoruka Overseas - Indonesia
- Electricity Generating Authority of Thailand
- Vedanta Resources Plc - India
- Interocean Group of Companies - India
- London Commodity Brokers - England
- Baramulti Group, Indonesia
- Tamil Nadu electricity Board
- Eastern Coal Council - USA
- Sarangani Energy Corporation, Philippines
- Agrawal Coal Company - India
- Commonwealth Bank - Australia
- Antam Resourcindo - Indonesia
- Central Java Power - Indonesia
- Romanian Commodities Exchange
- TeaM Sual Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- Mercator Lines Limited - India
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