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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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Thursday, 10 June 10
R-POWER, INDONESIA'S SUGICO INK PACT TO ACQUIRE COAL MINES - ECONOMIC TIMES
Economic Times of India reported that, Anil Ambani-owned Reliance Power has signed a share-sale agreement with Indonesia’s Sugico Group to acq ...
Thursday, 10 June 10
PARAMOUNT MINING CORPORATION REPORTS KEY INDONESIAN JV AGREEMENT
Indonesia focussed Paramount Mining Corporation has reported that its Indonesian subsidiary, PT Paramindo, has concluded a Joint Venture Agreem ...
Wednesday, 09 June 10
INDIA, CHINA TO PROP UP THERMAL COAL DEMAND - COMMODITY ONLINE
Commodity Online : Weakness in thermal coal demand in OECD will continue to be offset by growth in demand in India and China. Therefore, the s ...
Tuesday, 08 June 10
TATA POWER LOOKING TO PICK UP STAKE IN OVERSEAS COAL MINES - ECONOMIC TIMES
Economic Times reported that, Tata Power is looking for a strategic stake purchase in coal mines of Indonesia or South Africa to fuel its upcoming 1 ...
Tuesday, 08 June 10
RUSSIA REPORTED A TENFOLD GROWTH IN COAL EXPORTS TO CHINA IN 1Q 2010 - BRS
A retreat for all the dry bulk segments this week, but especially for the Panamax and Supramax markets. The Panamax 4TC remains over US$30,000/day h ...
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- Antam Resourcindo - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Ministry of Transport, Egypt
- Ambuja Cements Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Karbindo Abesyapradhi - Indoneisa
- PTC India Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Vijayanagar Sugar Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Marubeni Corporation - India
- Gujarat Mineral Development Corp Ltd - India
- SN Aboitiz Power Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Edison Trading Spa - Italy
- McConnell Dowell - Australia
- Indian Energy Exchange, India
- Tata Chemicals Ltd - India
- Bharathi Cement Corporation - India
- Central Electricity Authority - India
- Merrill Lynch Commodities Europe
- VISA Power Limited - India
- Deloitte Consulting - India
- Uttam Galva Steels Limited - India
- Bukit Makmur.PT - Indonesia
- International Coal Ventures Pvt Ltd - India
- Carbofer General Trading SA - India
- Bhoruka Overseas - Indonesia
- Tamil Nadu electricity Board
- Jaiprakash Power Ventures ltd
- IEA Clean Coal Centre - UK
- Mercuria Energy - Indonesia
- PowerSource Philippines DevCo
- Aboitiz Power Corporation - Philippines
- Interocean Group of Companies - India
- Australian Commodity Traders Exchange
- Cigading International Bulk Terminal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Rio Tinto Coal - Australia
- PetroVietnam Power Coal Import and Supply Company
- Madhucon Powers Ltd - India
- GVK Power & Infra Limited - India
- Chettinad Cement Corporation Ltd - India
- Trasteel International SA, Italy
- Mercator Lines Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- European Bulk Services B.V. - Netherlands
- Maharashtra Electricity Regulatory Commission - India
- Intertek Mineral Services - Indonesia
- PNOC Exploration Corporation - Philippines
- Metalloyd Limited - United Kingdom
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Star Paper Mills Limited - India
- Coal and Oil Company - UAE
- Orica Mining Services - Indonesia
- Agrawal Coal Company - India
- CIMB Investment Bank - Malaysia
- Essar Steel Hazira Ltd - India
- Australian Coal Association
- Rashtriya Ispat Nigam Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Globalindo Alam Lestari - Indonesia
- Power Finance Corporation Ltd., India
- Attock Cement Pakistan Limited
- GAC Shipping (India) Pvt Ltd
- Semirara Mining Corp, Philippines
- Videocon Industries ltd - India
- Baramulti Group, Indonesia
- Standard Chartered Bank - UAE
- India Bulls Power Limited - India
- Riau Bara Harum - Indonesia
- Straits Asia Resources Limited - Singapore
- Pendopo Energi Batubara - Indonesia
- Simpson Spence & Young - Indonesia
- Siam City Cement PLC, Thailand
- Coalindo Energy - Indonesia
- Eastern Energy - Thailand
- Economic Council, Georgia
- Karaikal Port Pvt Ltd - India
- Grasim Industreis Ltd - India
- Global Coal Blending Company Limited - Australia
- Gujarat Electricity Regulatory Commission - India
- Sical Logistics Limited - India
- Wood Mackenzie - Singapore
- White Energy Company Limited
- Vizag Seaport Private Limited - India
- MS Steel International - UAE
- Bukit Baiduri Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- The State Trading Corporation of India Ltd
- Heidelberg Cement - Germany
- Independent Power Producers Association of India
- Ministry of Mines - Canada
- Bulk Trading Sa - Switzerland
- Pipit Mutiara Jaya. PT, Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Oldendorff Carriers - Singapore
- Port Waratah Coal Services - Australia
- Energy Link Ltd, New Zealand
- Thai Mozambique Logistica
- Kaltim Prima Coal - Indonesia
- Cement Manufacturers Association - India
- Petron Corporation, Philippines
- London Commodity Brokers - England
- Billiton Holdings Pty Ltd - Australia
- Vedanta Resources Plc - India
- Larsen & Toubro Limited - India
- Kobexindo Tractors - Indoneisa
- San Jose City I Power Corp, Philippines
- Meralco Power Generation, Philippines
- Indian Oil Corporation Limited
- TeaM Sual Corporation - Philippines
- Jindal Steel & Power Ltd - India
- Indogreen Group - Indonesia
- SMC Global Power, Philippines
- Aditya Birla Group - India
- Siam City Cement - Thailand
- SMG Consultants - Indonesia
- Sakthi Sugars Limited - India
- CNBM International Corporation - China
- Indo Tambangraya Megah - Indonesia
- Coastal Gujarat Power Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Kideco Jaya Agung - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Salva Resources Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Bangladesh Power Developement Board
- Latin American Coal - Colombia
- Barasentosa Lestari - Indonesia
- Thiess Contractors Indonesia
- Central Java Power - Indonesia
- Savvy Resources Ltd - HongKong
- Singapore Mercantile Exchange
- GMR Energy Limited - India
- Medco Energi Mining Internasional
- Parry Sugars Refinery, India
- Alfred C Toepfer International GmbH - Germany
- Mintek Dendrill Indonesia
- Ind-Barath Power Infra Limited - India
- IHS Mccloskey Coal Group - USA
- Electricity Generating Authority of Thailand
- Goldman Sachs - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Binh Thuan Hamico - Vietnam
- Price Waterhouse Coopers - Russia
- Minerals Council of Australia
- Ministry of Finance - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- The University of Queensland
- Global Green Power PLC Corporation, Philippines
- Energy Development Corp, Philippines
- Romanian Commodities Exchange
- Samtan Co., Ltd - South Korea
- Borneo Indobara - Indonesia
- Sree Jayajothi Cements Limited - India
- Sinarmas Energy and Mining - Indonesia
- Timah Investasi Mineral - Indoneisa
- Mjunction Services Limited - India
- AsiaOL BioFuels Corp., Philippines
- Therma Luzon, Inc, Philippines
- Parliament of New Zealand
- Orica Australia Pty. Ltd.
- Dalmia Cement Bharat India
- Wilmar Investment Holdings
- Africa Commodities Group - South Africa
- Georgia Ports Authority, United States
- Sojitz Corporation - Japan
- Toyota Tsusho Corporation, Japan
- Xindia Steels Limited - India
- ICICI Bank Limited - India
- Neyveli Lignite Corporation Ltd, - India
- South Luzon Thermal Energy Corporation
- LBH Netherlands Bv - Netherlands
- Kalimantan Lumbung Energi - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Meenaskhi Energy Private Limited - India
- Banpu Public Company Limited - Thailand
- OPG Power Generation Pvt Ltd - India
- Renaissance Capital - South Africa
- Makarim & Taira - Indonesia
- Formosa Plastics Group - Taiwan
- The Treasury - Australian Government
- Planning Commission, India
- Bahari Cakrawala Sebuku - Indonesia
- Bhatia International Limited - India
- Semirara Mining and Power Corporation, Philippines
- Gujarat Sidhee Cement - India
- Global Business Power Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Altura Mining Limited, Indonesia
- Indika Energy - Indonesia
- Indonesian Coal Mining Association
- Commonwealth Bank - Australia
- New Zealand Coal & Carbon
- Kartika Selabumi Mining - Indonesia
- ASAPP Information Group - India
- Kepco SPC Power Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Anglo American - United Kingdom
- Kohat Cement Company Ltd. - Pakistan
- Kumho Petrochemical, South Korea
- Lanco Infratech Ltd - India
- Eastern Coal Council - USA
- Posco Energy - South Korea
- Sindya Power Generating Company Private Ltd
- Malabar Cements Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Chamber of Mines of South Africa
- Electricity Authority, New Zealand
- Kapuas Tunggal Persada - Indonesia
- Bhushan Steel Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Directorate Of Revenue Intelligence - India
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