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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 $1 million.
The government issued the regulation in April 2009 and it was set to take effect on July 1. It was intended to support the rupiah by ensuring revenue from commodity exports was kept onshore.
The Ministry of Trade originally delayed the introduction of the regulation from Sept. 1 to Nov. 1. Implementation was subsequently postponed again, to July 1.
“Based on evaluations, the regulation is no longer needed. Thus it is canceled and will not be applied,” the ministry said in a decree signed by Trade Minister Mari Elka Pangestu last Thursday.
The current export reporting system will continue. Under the system, exporters have to submit regular reports of payments received from their overseas buyers to the Trade Ministry.
Sandiaga Uno, managing director of private equity firm Saratoga Capital and a former head of the Indonesian Young Entrepreneurs Association (Hipmi), welcomed the decision.
“I welcome the move because my colleagues, especially in small and mid-sized businesses, have been complaining about the added cost it would bring,” Sandiaga said. Exporters had claimed that obtaining a letter of credit would cost them 0.8 percent of the total transaction.
“We’ve been hoping for a while that it would be canceled,” Sandiaga said.
Jeffrey Mulyono, president director of coal miner PT Bhakti Energi Persada, said the requirement would have undermined normal trade practices and increased costs.
“Why do we need it since there are already standing agreements between importers and exporters?” he said. “It would have only led to an added burden for both exporters and their buyers.”
Source: The Jakarta Globe
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Monday, 14 June 10
S. AFRICA BOOSTS COAL SALES TO INDIA 12%, TRADER SAYS
Bloomberg reported that, South Africa’s Richards Bay, the world’s second-biggest coal export harbor, boosted sales to India by 12 percen ...
Sunday, 13 June 10
THE FUTURES FOR THREE YEARS (2010-2012) WAS AT AROUND CAPE/US$ 29000 PER DAY & PANAMAX/US$ 20500 PER DAY - VISTAAR
COALspot.com: The market continue to soften in all sectors and the most affected was cape size which was down by 16.32 pct. The BDI was down by 14.4 ...
Saturday, 12 June 10
BALTIC EXCHANGE ESTABLISHES ASIA-PACIFIC OFFICE
The London-based Baltic Exchange has today announced it is setting up an Asia-Pacific Representative Office in Singapore, to ensure closer contact w ...
Saturday, 12 June 10
NALCO TO ROPE IN PARTNERS FOR INDONESIA PROJECT
Sify reported that, the public sector National Aluminium Company (Nalco) is set to finalise the terms of its joint venture (JV) agreement with two f ...
Thursday, 10 June 10
CHARTERERS ARE NOT WILLING TO PAY THE RATES AS MARKET SLIDES
DRY BULK
Handy
Atlantic markets are quieter (Posidonia?) with less activity. Nevertheless expect some fresh enquiries f ...
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- International Coal Ventures Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Wilmar Investment Holdings
- Deloitte Consulting - India
- Intertek Mineral Services - Indonesia
- Bhoruka Overseas - Indonesia
- Petron Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Australian Commodity Traders Exchange
- Maharashtra Electricity Regulatory Commission - India
- Parry Sugars Refinery, India
- Ministry of Finance - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- The University of Queensland
- Posco Energy - South Korea
- TNB Fuel Sdn Bhd - Malaysia
- SN Aboitiz Power Inc, Philippines
- Bangladesh Power Developement Board
- Thai Mozambique Logistica
- Parliament of New Zealand
- Jindal Steel & Power Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- ICICI Bank Limited - India
- Uttam Galva Steels Limited - India
- Metalloyd Limited - United Kingdom
- Siam City Cement - Thailand
- Merrill Lynch Commodities Europe
- Indian Oil Corporation Limited
- Siam City Cement PLC, Thailand
- Sojitz Corporation - Japan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PowerSource Philippines DevCo
- Miang Besar Coal Terminal - Indonesia
- Tamil Nadu electricity Board
- Power Finance Corporation Ltd., India
- Ambuja Cements Ltd - India
- Oldendorff Carriers - Singapore
- Mercuria Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Karaikal Port Pvt Ltd - India
- Bhushan Steel Limited - India
- Dalmia Cement Bharat India
- Electricity Authority, New Zealand
- Kalimantan Lumbung Energi - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Kepco SPC Power Corporation, Philippines
- Indonesian Coal Mining Association
- London Commodity Brokers - England
- Coalindo Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Malabar Cements Ltd - India
- Medco Energi Mining Internasional
- Wood Mackenzie - Singapore
- Trasteel International SA, Italy
- Thiess Contractors Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Salva Resources Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Africa Commodities Group - South Africa
- Videocon Industries ltd - India
- New Zealand Coal & Carbon
- Singapore Mercantile Exchange
- European Bulk Services B.V. - Netherlands
- Orica Mining Services - Indonesia
- McConnell Dowell - Australia
- Vizag Seaport Private Limited - India
- AsiaOL BioFuels Corp., Philippines
- Gujarat Mineral Development Corp Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Therma Luzon, Inc, Philippines
- Australian Coal Association
- San Jose City I Power Corp, Philippines
- Sindya Power Generating Company Private Ltd
- Jaiprakash Power Ventures ltd
- Chettinad Cement Corporation Ltd - India
- TeaM Sual Corporation - Philippines
- Global Business Power Corporation, Philippines
- India Bulls Power Limited - India
- Cigading International Bulk Terminal - Indonesia
- GMR Energy Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Timah Investasi Mineral - Indoneisa
- CNBM International Corporation - China
- Asmin Koalindo Tuhup - Indonesia
- Bharathi Cement Corporation - India
- Holcim Trading Pte Ltd - Singapore
- Indogreen Group - Indonesia
- Maheswari Brothers Coal Limited - India
- Latin American Coal - Colombia
- Romanian Commodities Exchange
- PetroVietnam Power Coal Import and Supply Company
- Attock Cement Pakistan Limited
- Energy Link Ltd, New Zealand
- Global Green Power PLC Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Pipit Mutiara Jaya. PT, Indonesia
- GVK Power & Infra Limited - India
- Global Coal Blending Company Limited - Australia
- Baramulti Group, Indonesia
- The Treasury - Australian Government
- Xindia Steels Limited - India
- Goldman Sachs - Singapore
- Essar Steel Hazira Ltd - India
- Madhucon Powers Ltd - India
- Vedanta Resources Plc - India
- Banpu Public Company Limited - Thailand
- Ministry of Transport, Egypt
- Energy Development Corp, Philippines
- Minerals Council of Australia
- Coastal Gujarat Power Limited - India
- Aboitiz Power Corporation - Philippines
- Grasim Industreis Ltd - India
- Meenaskhi Energy Private Limited - India
- Iligan Light & Power Inc, Philippines
- Central Java Power - Indonesia
- Riau Bara Harum - Indonesia
- Mercator Lines Limited - India
- SMC Global Power, Philippines
- Agrawal Coal Company - India
- Cement Manufacturers Association - India
- Planning Commission, India
- Bukit Makmur.PT - Indonesia
- Eastern Energy - Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indian Energy Exchange, India
- Marubeni Corporation - India
- Georgia Ports Authority, United States
- Sical Logistics Limited - India
- Kapuas Tunggal Persada - Indonesia
- LBH Netherlands Bv - Netherlands
- Star Paper Mills Limited - India
- Anglo American - United Kingdom
- South Luzon Thermal Energy Corporation
- Mintek Dendrill Indonesia
- Larsen & Toubro Limited - India
- Indo Tambangraya Megah - Indonesia
- Kaltim Prima Coal - Indonesia
- Bhatia International Limited - India
- Sarangani Energy Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- SMG Consultants - Indonesia
- Samtan Co., Ltd - South Korea
- Indika Energy - Indonesia
- Savvy Resources Ltd - HongKong
- MS Steel International - UAE
- Directorate General of MIneral and Coal - Indonesia
- The State Trading Corporation of India Ltd
- Semirara Mining Corp, Philippines
- Mjunction Services Limited - India
- Antam Resourcindo - Indonesia
- Eastern Coal Council - USA
- Petrochimia International Co. Ltd.- Taiwan
- Ind-Barath Power Infra Limited - India
- Simpson Spence & Young - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Ceylon Electricity Board - Sri Lanka
- Straits Asia Resources Limited - Singapore
- IHS Mccloskey Coal Group - USA
- Bukit Baiduri Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Coal and Oil Company - UAE
- Renaissance Capital - South Africa
- ASAPP Information Group - India
- Vijayanagar Sugar Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Interocean Group of Companies - India
- Toyota Tsusho Corporation, Japan
- Commonwealth Bank - Australia
- Bayan Resources Tbk. - Indonesia
- CIMB Investment Bank - Malaysia
- Rio Tinto Coal - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Electricity Generating Authority of Thailand
- Bulk Trading Sa - Switzerland
- Sinarmas Energy and Mining - Indonesia
- Carbofer General Trading SA - India
- Meralco Power Generation, Philippines
- Standard Chartered Bank - UAE
- Kartika Selabumi Mining - Indonesia
- Heidelberg Cement - Germany
- VISA Power Limited - India
- Sakthi Sugars Limited - India
- Borneo Indobara - Indonesia
- Directorate Of Revenue Intelligence - India
- Rashtriya Ispat Nigam Limited - India
- OPG Power Generation Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Binh Thuan Hamico - Vietnam
- Kobexindo Tractors - Indoneisa
- Lanco Infratech Ltd - India
- Manunggal Multi Energi - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Barasentosa Lestari - Indonesia
- White Energy Company Limited
- Kohat Cement Company Ltd. - Pakistan
- Economic Council, Georgia
- PTC India Limited - India
- Makarim & Taira - Indonesia
- Tata Chemicals Ltd - India
- Independent Power Producers Association of India
- PNOC Exploration Corporation - Philippines
- Gujarat Sidhee Cement - India
- Formosa Plastics Group - Taiwan
- Chamber of Mines of South Africa
- GN Power Mariveles Coal Plant, Philippines
- Port Waratah Coal Services - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Price Waterhouse Coopers - Russia
- Ministry of Mines - Canada
- Aditya Birla Group - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kumho Petrochemical, South Korea
- GAC Shipping (India) Pvt Ltd
- Edison Trading Spa - Italy
- IEA Clean Coal Centre - UK
- Central Electricity Authority - India
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