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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 $1 million.
The government issued the regulation in April 2009 and it was set to take effect on July 1. It was intended to support the rupiah by ensuring revenue from commodity exports was kept onshore.
The Ministry of Trade originally delayed the introduction of the regulation from Sept. 1 to Nov. 1. Implementation was subsequently postponed again, to July 1.
“Based on evaluations, the regulation is no longer needed. Thus it is canceled and will not be applied,” the ministry said in a decree signed by Trade Minister Mari Elka Pangestu last Thursday.
The current export reporting system will continue. Under the system, exporters have to submit regular reports of payments received from their overseas buyers to the Trade Ministry.
Sandiaga Uno, managing director of private equity firm Saratoga Capital and a former head of the Indonesian Young Entrepreneurs Association (Hipmi), welcomed the decision.
“I welcome the move because my colleagues, especially in small and mid-sized businesses, have been complaining about the added cost it would bring,” Sandiaga said. Exporters had claimed that obtaining a letter of credit would cost them 0.8 percent of the total transaction.
“We’ve been hoping for a while that it would be canceled,” Sandiaga said.
Jeffrey Mulyono, president director of coal miner PT Bhakti Energi Persada, said the requirement would have undermined normal trade practices and increased costs.
“Why do we need it since there are already standing agreements between importers and exporters?” he said. “It would have only led to an added burden for both exporters and their buyers.”
Source: The Jakarta Globe
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Friday, 25 June 10
INDIAS THIRD-LARGEST SHIPPING COMPANY BAGS US$ 31 MILLION DEAL WITH SL
Daily Mirror reported that, Mainboard-listed and India-owned dry bulk shipping firm Mercator Lines says it has won a US$ 31 million contract in Sri ...
Friday, 25 June 10
DEMAND FOR COAL COULD BE GRADUALLY RETURNING - FEARNBULK
Handy
Atlantic markets seeing more activity today (23 June 2010) after a slump the last weeks. Supramax vessels open in USG are achieving low/mid ...
Thursday, 24 June 10
INDONESIAS BUMI DECLARED US$ 57.1 MILLION (AMOUNTING TO 30% OF 2009 NET INCOME) AS DIVIDEND
COALspot.com: PT Bumi Resources, Tbk’s Annual General Meeting (AGM) today was successfully held with a quorum of 75.89% resulting in sharehold ...
Thursday, 24 June 10
CHINA TARGETS 3.6 BILLION MT ANNUAL COAL OUTPUT FOR 2015
At a forum in Beijing entitled "Chinese energy strategy and energy development in the 12th five-year plan period (2011-2015)", He Youguo, ...
Thursday, 24 June 10
DRY BULK MARKET AT LOWEST POINT IN EIGHT MONTHS
The dry bulk market’s demise has failed to turn around so far this week, with the industry’s benchmark, the Baltic Dry Index (BDI), yest ...
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- Global Coal Blending Company Limited - Australia
- Riau Bara Harum - Indonesia
- GAC Shipping (India) Pvt Ltd
- Barasentosa Lestari - Indonesia
- GMR Energy Limited - India
- San Jose City I Power Corp, Philippines
- SN Aboitiz Power Inc, Philippines
- Electricity Generating Authority of Thailand
- Australian Commodity Traders Exchange
- London Commodity Brokers - England
- Interocean Group of Companies - India
- Marubeni Corporation - India
- Mercator Lines Limited - India
- Indika Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Chamber of Mines of South Africa
- Uttam Galva Steels Limited - India
- Borneo Indobara - Indonesia
- Kaltim Prima Coal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Mjunction Services Limited - India
- Ministry of Finance - Indonesia
- CIMB Investment Bank - Malaysia
- SMC Global Power, Philippines
- PetroVietnam Power Coal Import and Supply Company
- SMG Consultants - Indonesia
- Binh Thuan Hamico - Vietnam
- Straits Asia Resources Limited - Singapore
- PTC India Limited - India
- Tamil Nadu electricity Board
- Coastal Gujarat Power Limited - India
- Eastern Energy - Thailand
- Port Waratah Coal Services - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Jindal Steel & Power Ltd - India
- CNBM International Corporation - China
- Bulk Trading Sa - Switzerland
- Siam City Cement - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Malabar Cements Ltd - India
- Minerals Council of Australia
- The Treasury - Australian Government
- Parry Sugars Refinery, India
- Ambuja Cements Ltd - India
- Central Java Power - Indonesia
- Ind-Barath Power Infra Limited - India
- Iligan Light & Power Inc, Philippines
- Kideco Jaya Agung - Indonesia
- McConnell Dowell - Australia
- Agrawal Coal Company - India
- Sojitz Corporation - Japan
- Savvy Resources Ltd - HongKong
- GVK Power & Infra Limited - India
- Bangladesh Power Developement Board
- IHS Mccloskey Coal Group - USA
- Bhoruka Overseas - Indonesia
- Sarangani Energy Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Energy Development Corp, Philippines
- Merrill Lynch Commodities Europe
- Vizag Seaport Private Limited - India
- Bharathi Cement Corporation - India
- Indian Energy Exchange, India
- Cement Manufacturers Association - India
- Indogreen Group - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Meenaskhi Energy Private Limited - India
- Billiton Holdings Pty Ltd - Australia
- ASAPP Information Group - India
- Bukit Asam (Persero) Tbk - Indonesia
- Formosa Plastics Group - Taiwan
- Parliament of New Zealand
- Independent Power Producers Association of India
- Australian Coal Association
- Wilmar Investment Holdings
- Kepco SPC Power Corporation, Philippines
- Grasim Industreis Ltd - India
- Price Waterhouse Coopers - Russia
- Aditya Birla Group - India
- PowerSource Philippines DevCo
- AsiaOL BioFuels Corp., Philippines
- India Bulls Power Limited - India
- Chettinad Cement Corporation Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Altura Mining Limited, Indonesia
- Jorong Barutama Greston.PT - Indonesia
- The University of Queensland
- South Luzon Thermal Energy Corporation
- Vijayanagar Sugar Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Intertek Mineral Services - Indonesia
- Timah Investasi Mineral - Indoneisa
- Sindya Power Generating Company Private Ltd
- Samtan Co., Ltd - South Korea
- Salva Resources Pvt Ltd - India
- Anglo American - United Kingdom
- Jaiprakash Power Ventures ltd
- Essar Steel Hazira Ltd - India
- Antam Resourcindo - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- European Bulk Services B.V. - Netherlands
- Toyota Tsusho Corporation, Japan
- Bhushan Steel Limited - India
- Kobexindo Tractors - Indoneisa
- Indonesian Coal Mining Association
- LBH Netherlands Bv - Netherlands
- Sinarmas Energy and Mining - Indonesia
- Global Green Power PLC Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Orica Mining Services - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Larsen & Toubro Limited - India
- TeaM Sual Corporation - Philippines
- Thai Mozambique Logistica
- Maheswari Brothers Coal Limited - India
- Deloitte Consulting - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- White Energy Company Limited
- Power Finance Corporation Ltd., India
- VISA Power Limited - India
- Simpson Spence & Young - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Manunggal Multi Energi - Indonesia
- PNOC Exploration Corporation - Philippines
- Carbofer General Trading SA - India
- International Coal Ventures Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Krishnapatnam Port Company Ltd. - India
- Oldendorff Carriers - Singapore
- Bhatia International Limited - India
- Latin American Coal - Colombia
- The State Trading Corporation of India Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Thiess Contractors Indonesia
- Africa Commodities Group - South Africa
- Economic Council, Georgia
- Petron Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Madhucon Powers Ltd - India
- Ceylon Electricity Board - Sri Lanka
- IEA Clean Coal Centre - UK
- Trasteel International SA, Italy
- Eastern Coal Council - USA
- Baramulti Group, Indonesia
- Renaissance Capital - South Africa
- Mintek Dendrill Indonesia
- Standard Chartered Bank - UAE
- Miang Besar Coal Terminal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Semirara Mining Corp, Philippines
- Bukit Makmur.PT - Indonesia
- Energy Link Ltd, New Zealand
- Pipit Mutiara Jaya. PT, Indonesia
- Banpu Public Company Limited - Thailand
- Planning Commission, India
- Gujarat Sidhee Cement - India
- Gujarat Mineral Development Corp Ltd - India
- Xindia Steels Limited - India
- Holcim Trading Pte Ltd - Singapore
- Kumho Petrochemical, South Korea
- Romanian Commodities Exchange
- Asmin Koalindo Tuhup - Indonesia
- Directorate Of Revenue Intelligence - India
- Posco Energy - South Korea
- Videocon Industries ltd - India
- Bayan Resources Tbk. - Indonesia
- Meralco Power Generation, Philippines
- Medco Energi Mining Internasional
- Vedanta Resources Plc - India
- Georgia Ports Authority, United States
- Tata Chemicals Ltd - India
- Indian Oil Corporation Limited
- Coal and Oil Company - UAE
- Kohat Cement Company Ltd. - Pakistan
- Siam City Cement PLC, Thailand
- Kartika Selabumi Mining - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Commonwealth Bank - Australia
- Bukit Baiduri Energy - Indonesia
- Sical Logistics Limited - India
- Edison Trading Spa - Italy
- MS Steel International - UAE
- Metalloyd Limited - United Kingdom
- New Zealand Coal & Carbon
- ICICI Bank Limited - India
- Orica Australia Pty. Ltd.
- Wood Mackenzie - Singapore
- Star Paper Mills Limited - India
- Karaikal Port Pvt Ltd - India
- Attock Cement Pakistan Limited
- Global Business Power Corporation, Philippines
- Rio Tinto Coal - Australia
- Mercuria Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- Singapore Mercantile Exchange
- Alfred C Toepfer International GmbH - Germany
- Electricity Authority, New Zealand
- OPG Power Generation Pvt Ltd - India
- Sakthi Sugars Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Gujarat Electricity Regulatory Commission - India
- Aboitiz Power Corporation - Philippines
- Makarim & Taira - Indonesia
- Coalindo Energy - Indonesia
- Ministry of Transport, Egypt
- Central Electricity Authority - India
- Heidelberg Cement - Germany
- Goldman Sachs - Singapore
- Lanco Infratech Ltd - India
- Ministry of Mines - Canada
- Dalmia Cement Bharat India
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