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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, 07 June 10
SOUTH AFRICA COAL STAYS NEAR 18-MONTH HIGH ON EUROPEAN DEMAND - BLOOMBERG
Bloomberg Reported that, Prices for coal shipped from South Africa’s Richards Bay, the continent’s biggest export facility for the fuel, ...
Sunday, 06 June 10
THE DOWNWARD TREND FOR S6 AND S7 ROUTE IS LIKELY TO CONTINUE NEXT WEEK - VISTAAR
COALspot.com: "This seemed market heading for corrections with all sectors down", said, Capt. Reddy, MD of Vistaar Shipping Singapore, an ...
Sunday, 06 June 10
STEAM COAL MAY BECOME NEXT BOOMING COMMODITY IN AUSTRALIA - DB
Deutsche Bank predicts that thermal coal could become Australia's next booming commodity. The German investment bank's global thermal coal team ex ...
Friday, 04 June 10
INDO/INDIA AROUND THE MID 20'S LEVEL AND MID TO HIGH 20'S INDIA/CHINA
Handy
After a quiet end to last week, the Atlantic handysize market continued&nb ...
Thursday, 03 June 10
INDO GOVERNMENT TRIES TO CALM BUSINESSES FEARS OVER FOREST - CLEARING MORATORIUM
The Jakarta Globe reported that, as producers of coal and palm oil continued to howl, the government on Tuesday offered reassurances that the develo ...
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- MS Steel International - UAE
- Maharashtra Electricity Regulatory Commission - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bayan Resources Tbk. - Indonesia
- Manunggal Multi Energi - Indonesia
- Pendopo Energi Batubara - Indonesia
- Parliament of New Zealand
- Edison Trading Spa - Italy
- Bulk Trading Sa - Switzerland
- The University of Queensland
- Energy Link Ltd, New Zealand
- Commonwealth Bank - Australia
- Central Electricity Authority - India
- Alfred C Toepfer International GmbH - Germany
- Petrochimia International Co. Ltd.- Taiwan
- McConnell Dowell - Australia
- Essar Steel Hazira Ltd - India
- Jindal Steel & Power Ltd - India
- Mercuria Energy - Indonesia
- Intertek Mineral Services - Indonesia
- Madhucon Powers Ltd - India
- CNBM International Corporation - China
- European Bulk Services B.V. - Netherlands
- Antam Resourcindo - Indonesia
- Indika Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Attock Cement Pakistan Limited
- Malabar Cements Ltd - India
- Wood Mackenzie - Singapore
- Bhatia International Limited - India
- Tamil Nadu electricity Board
- Cigading International Bulk Terminal - Indonesia
- Banpu Public Company Limited - Thailand
- Ind-Barath Power Infra Limited - India
- Iligan Light & Power Inc, Philippines
- The State Trading Corporation of India Ltd
- Power Finance Corporation Ltd., India
- Meralco Power Generation, Philippines
- Tata Chemicals Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Bukit Makmur.PT - Indonesia
- Rio Tinto Coal - Australia
- IHS Mccloskey Coal Group - USA
- Kalimantan Lumbung Energi - Indonesia
- Kobexindo Tractors - Indoneisa
- Ministry of Transport, Egypt
- Global Coal Blending Company Limited - Australia
- Georgia Ports Authority, United States
- OPG Power Generation Pvt Ltd - India
- Latin American Coal - Colombia
- Bank of Tokyo Mitsubishi UFJ Ltd
- India Bulls Power Limited - India
- Videocon Industries ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Cement Manufacturers Association - India
- Parry Sugars Refinery, India
- Sindya Power Generating Company Private Ltd
- Bhoruka Overseas - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Thiess Contractors Indonesia
- Jaiprakash Power Ventures ltd
- Posco Energy - South Korea
- Dalmia Cement Bharat India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Africa Commodities Group - South Africa
- Lanco Infratech Ltd - India
- Aboitiz Power Corporation - Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Indogreen Group - Indonesia
- Romanian Commodities Exchange
- Altura Mining Limited, Indonesia
- Karaikal Port Pvt Ltd - India
- Sojitz Corporation - Japan
- Larsen & Toubro Limited - India
- Ministry of Mines - Canada
- Central Java Power - Indonesia
- Coalindo Energy - Indonesia
- Indian Oil Corporation Limited
- Port Waratah Coal Services - Australia
- Uttam Galva Steels Limited - India
- Gujarat Sidhee Cement - India
- Siam City Cement PLC, Thailand
- Xindia Steels Limited - India
- Toyota Tsusho Corporation, Japan
- Wilmar Investment Holdings
- Siam City Cement - Thailand
- Medco Energi Mining Internasional
- PowerSource Philippines DevCo
- Marubeni Corporation - India
- Bahari Cakrawala Sebuku - Indonesia
- Sical Logistics Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Standard Chartered Bank - UAE
- Bangladesh Power Developement Board
- PetroVietnam Power Coal Import and Supply Company
- Leighton Contractors Pty Ltd - Australia
- Global Business Power Corporation, Philippines
- Therma Luzon, Inc, Philippines
- PTC India Limited - India
- Oldendorff Carriers - Singapore
- Global Green Power PLC Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Trasteel International SA, Italy
- Chamber of Mines of South Africa
- Jorong Barutama Greston.PT - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Makarim & Taira - Indonesia
- New Zealand Coal & Carbon
- Planning Commission, India
- Grasim Industreis Ltd - India
- Electricity Authority, New Zealand
- Mjunction Services Limited - India
- Eastern Coal Council - USA
- GAC Shipping (India) Pvt Ltd
- Bukit Baiduri Energy - Indonesia
- Minerals Council of Australia
- Holcim Trading Pte Ltd - Singapore
- International Coal Ventures Pvt Ltd - India
- Australian Commodity Traders Exchange
- Petron Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Kideco Jaya Agung - Indonesia
- Merrill Lynch Commodities Europe
- Kartika Selabumi Mining - Indonesia
- Anglo American - United Kingdom
- Heidelberg Cement - Germany
- ICICI Bank Limited - India
- Orica Mining Services - Indonesia
- Miang Besar Coal Terminal - Indonesia
- GMR Energy Limited - India
- Chettinad Cement Corporation Ltd - India
- Thai Mozambique Logistica
- IEA Clean Coal Centre - UK
- Gujarat Electricity Regulatory Commission - India
- Economic Council, Georgia
- Mercator Lines Limited - India
- PNOC Exploration Corporation - Philippines
- Kumho Petrochemical, South Korea
- San Jose City I Power Corp, Philippines
- Directorate Of Revenue Intelligence - India
- Carbofer General Trading SA - India
- Energy Development Corp, Philippines
- LBH Netherlands Bv - Netherlands
- Price Waterhouse Coopers - Russia
- Vizag Seaport Private Limited - India
- VISA Power Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Mintek Dendrill Indonesia
- Kaltim Prima Coal - Indonesia
- Interocean Group of Companies - India
- Barasentosa Lestari - Indonesia
- Baramulti Group, Indonesia
- South Luzon Thermal Energy Corporation
- GVK Power & Infra Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Indo Tambangraya Megah - Indonesia
- SMG Consultants - Indonesia
- Straits Asia Resources Limited - Singapore
- White Energy Company Limited
- Salva Resources Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Ministry of Finance - Indonesia
- Simpson Spence & Young - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Savvy Resources Ltd - HongKong
- Sakthi Sugars Limited - India
- Indian Energy Exchange, India
- SN Aboitiz Power Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Directorate General of MIneral and Coal - Indonesia
- SMC Global Power, Philippines
- Sinarmas Energy and Mining - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Bharathi Cement Corporation - India
- Metalloyd Limited - United Kingdom
- Independent Power Producers Association of India
- Orica Australia Pty. Ltd.
- Kepco SPC Power Corporation, Philippines
- Indonesian Coal Mining Association
- Riau Bara Harum - Indonesia
- Aditya Birla Group - India
- Meenaskhi Energy Private Limited - India
- Vedanta Resources Plc - India
- Semirara Mining Corp, Philippines
- Deloitte Consulting - India
- TeaM Sual Corporation - Philippines
- Ambuja Cements Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Sarangani Energy Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Singapore Mercantile Exchange
- Australian Coal Association
- Karbindo Abesyapradhi - Indoneisa
- The Treasury - Australian Government
- Globalindo Alam Lestari - Indonesia
- Goldman Sachs - Singapore
- Eastern Energy - Thailand
- Timah Investasi Mineral - Indoneisa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- CIMB Investment Bank - Malaysia
- Borneo Indobara - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Agrawal Coal Company - India
- Bhushan Steel Limited - India
- ASAPP Information Group - India
- Star Paper Mills Limited - India
- Electricity Generating Authority of Thailand
- Sree Jayajothi Cements Limited - India
- London Commodity Brokers - England
- Samtan Co., Ltd - South Korea
- Coastal Gujarat Power Limited - India
- Renaissance Capital - South Africa
- Coal and Oil Company - UAE
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