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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, 19 June 10
STRONG DEMAND, RISING PRODUCTION SETTING SCENE FOR COAL BONANZA - THE JAKARTA GLOBE
The Jakarta globe rerported that, As the nation’s coal miners enjoy burgeoning demand from energy-hungry economies such as China and India, th ...
Saturday, 19 June 10
DRY BULK MARKET DOWN ON CHINESE SLOWDOWN FEARS
Dry bulk freight rates have been on a freefall for more than two weeks now, something which has caused the industry’s benchmark, the Baltic Dr ...
Saturday, 19 June 10
COAL INDIA KEEN ON BLOCK DEVELOPMENT IN INDONESIA - THE HINDU BUSINESS LINE
Expanding horizon
Agreement by the Indonesian Government is likely to help CIL gain foothold in India's largest sourcing point of thermal coal.
...
Friday, 18 June 10
THE PANAMAX MARKET CONTINUED ITS SOFTENING TREND - FEARNBULK
Handy
Flat Atlantic markets with most markets in ´slow mode´ due to holidays in China.
Supramax vessels open in the USG are achievi ...
Thursday, 17 June 10
INDONESIAN COAL PRICE REFERENCE FOR JUNE IS US$ 97.22/TON UP 5.59 PERCENT
COALspot.com: The directorate general of mineral, coal and geothermal of Indonesia has been publishing a monthly coal price reference (HBA) to be us ...
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- Bahari Cakrawala Sebuku - Indonesia
- Electricity Generating Authority of Thailand
- Sojitz Corporation - Japan
- McConnell Dowell - Australia
- Kartika Selabumi Mining - Indonesia
- Chamber of Mines of South Africa
- Orica Mining Services - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Gujarat Sidhee Cement - India
- Port Waratah Coal Services - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Medco Energi Mining Internasional
- Indian Oil Corporation Limited
- Bayan Resources Tbk. - Indonesia
- Siam City Cement - Thailand
- Barasentosa Lestari - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- ASAPP Information Group - India
- Indian Energy Exchange, India
- ICICI Bank Limited - India
- Power Finance Corporation Ltd., India
- Vedanta Resources Plc - India
- Central Electricity Authority - India
- IHS Mccloskey Coal Group - USA
- India Bulls Power Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Trasteel International SA, Italy
- Intertek Mineral Services - Indonesia
- Attock Cement Pakistan Limited
- OPG Power Generation Pvt Ltd - India
- VISA Power Limited - India
- Kaltim Prima Coal - Indonesia
- Sindya Power Generating Company Private Ltd
- Grasim Industreis Ltd - India
- Kobexindo Tractors - Indoneisa
- Star Paper Mills Limited - India
- International Coal Ventures Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Indonesian Coal Mining Association
- Malabar Cements Ltd - India
- Jaiprakash Power Ventures ltd
- Binh Thuan Hamico - Vietnam
- Offshore Bulk Terminal Pte Ltd, Singapore
- Economic Council, Georgia
- Marubeni Corporation - India
- LBH Netherlands Bv - Netherlands
- Wilmar Investment Holdings
- London Commodity Brokers - England
- TeaM Sual Corporation - Philippines
- Bharathi Cement Corporation - India
- Cigading International Bulk Terminal - Indonesia
- Bukit Makmur.PT - Indonesia
- Planning Commission, India
- Maharashtra Electricity Regulatory Commission - India
- PNOC Exploration Corporation - Philippines
- Sinarmas Energy and Mining - Indonesia
- Gujarat Electricity Regulatory Commission - India
- South Luzon Thermal Energy Corporation
- Anglo American - United Kingdom
- Thai Mozambique Logistica
- Global Green Power PLC Corporation, Philippines
- Coalindo Energy - Indonesia
- Standard Chartered Bank - UAE
- Larsen & Toubro Limited - India
- Parry Sugars Refinery, India
- Goldman Sachs - Singapore
- Uttam Galva Steels Limited - India
- GAC Shipping (India) Pvt Ltd
- Siam City Cement PLC, Thailand
- Essar Steel Hazira Ltd - India
- Energy Development Corp, Philippines
- Deloitte Consulting - India
- Africa Commodities Group - South Africa
- Petrochimia International Co. Ltd.- Taiwan
- Bukit Baiduri Energy - Indonesia
- Merrill Lynch Commodities Europe
- Parliament of New Zealand
- Singapore Mercantile Exchange
- Australian Coal Association
- Vijayanagar Sugar Pvt Ltd - India
- Lanco Infratech Ltd - India
- Simpson Spence & Young - Indonesia
- Global Coal Blending Company Limited - Australia
- Meenaskhi Energy Private Limited - India
- White Energy Company Limited
- Interocean Group of Companies - India
- Mercator Lines Limited - India
- Baramulti Group, Indonesia
- Oldendorff Carriers - Singapore
- Meralco Power Generation, Philippines
- SMC Global Power, Philippines
- Kideco Jaya Agung - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Carbofer General Trading SA - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bhoruka Overseas - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Coastal Gujarat Power Limited - India
- Riau Bara Harum - Indonesia
- Sarangani Energy Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Cement Manufacturers Association - India
- Petron Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Indogreen Group - Indonesia
- Sree Jayajothi Cements Limited - India
- Eastern Energy - Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Coal and Oil Company - UAE
- Orica Australia Pty. Ltd.
- Iligan Light & Power Inc, Philippines
- Electricity Authority, New Zealand
- Chettinad Cement Corporation Ltd - India
- The Treasury - Australian Government
- Bulk Trading Sa - Switzerland
- Alfred C Toepfer International GmbH - Germany
- Ceylon Electricity Board - Sri Lanka
- Mintek Dendrill Indonesia
- PTC India Limited - India
- Mjunction Services Limited - India
- SN Aboitiz Power Inc, Philippines
- GVK Power & Infra Limited - India
- Commonwealth Bank - Australia
- Georgia Ports Authority, United States
- Kumho Petrochemical, South Korea
- Miang Besar Coal Terminal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Price Waterhouse Coopers - Russia
- Aboitiz Power Corporation - Philippines
- Antam Resourcindo - Indonesia
- Semirara Mining Corp, Philippines
- Timah Investasi Mineral - Indoneisa
- Vizag Seaport Private Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Toyota Tsusho Corporation, Japan
- Asmin Koalindo Tuhup - Indonesia
- Altura Mining Limited, Indonesia
- The University of Queensland
- Salva Resources Pvt Ltd - India
- Aditya Birla Group - India
- Heidelberg Cement - Germany
- Bhushan Steel Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Romanian Commodities Exchange
- GN Power Mariveles Coal Plant, Philippines
- SMG Consultants - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- TNB Fuel Sdn Bhd - Malaysia
- Karaikal Port Pvt Ltd - India
- Rio Tinto Coal - Australia
- Tamil Nadu electricity Board
- Semirara Mining and Power Corporation, Philippines
- Ministry of Transport, Egypt
- The State Trading Corporation of India Ltd
- PowerSource Philippines DevCo
- Jorong Barutama Greston.PT - Indonesia
- MS Steel International - UAE
- Globalindo Alam Lestari - Indonesia
- Videocon Industries ltd - India
- Mercuria Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- CIMB Investment Bank - Malaysia
- Posco Energy - South Korea
- Independent Power Producers Association of India
- Ministry of Mines - Canada
- Sical Logistics Limited - India
- Thiess Contractors Indonesia
- Dalmia Cement Bharat India
- Directorate Of Revenue Intelligence - India
- Jindal Steel & Power Ltd - India
- Madhucon Powers Ltd - India
- Latin American Coal - Colombia
- GMR Energy Limited - India
- San Jose City I Power Corp, Philippines
- European Bulk Services B.V. - Netherlands
- Edison Trading Spa - Italy
- Agrawal Coal Company - India
- Renaissance Capital - South Africa
- Wood Mackenzie - Singapore
- Ministry of Finance - Indonesia
- Bangladesh Power Developement Board
- Bhatia International Limited - India
- Samtan Co., Ltd - South Korea
- Eastern Coal Council - USA
- Manunggal Multi Energi - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Indika Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- Borneo Indobara - Indonesia
- Sakthi Sugars Limited - India
- Minerals Council of Australia
- Australian Commodity Traders Exchange
- Bank of Tokyo Mitsubishi UFJ Ltd
- New Zealand Coal & Carbon
- Ind-Barath Power Infra Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Energy Link Ltd, New Zealand
- Maheswari Brothers Coal Limited - India
- Holcim Trading Pte Ltd - Singapore
- Therma Luzon, Inc, Philippines
- Formosa Plastics Group - Taiwan
- Metalloyd Limited - United Kingdom
- PetroVietnam Power Coal Import and Supply Company
- Indo Tambangraya Megah - Indonesia
- Xindia Steels Limited - India
- IEA Clean Coal Centre - UK
- Makarim & Taira - Indonesia
- CNBM International Corporation - China
- Savvy Resources Ltd - HongKong
- Straits Asia Resources Limited - Singapore
- Tata Chemicals Ltd - India
- Global Business Power Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Billiton Holdings Pty Ltd - Australia
- Central Java Power - Indonesia
- Ambuja Cements Ltd - India
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