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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, 03 June 10
GOVT CONSIDERING IMPORT PARITY PRICE FOR DOMESTIC COAL
The government on June 1 said it is considering to price domestic coal on par with global rates, a move which may increase the cost of the raw mater ...
Wednesday, 02 June 10
SRI LANKA TESTS 1ST COAL POWER PLANT IN SEPT.
Sri Lanka will start testing its first 300 MegaWatt coal power plant in September with plans to connect it to the national distribution grid by Janu ...
Wednesday, 02 June 10
CHINA'S IRON ORE IMPORTS TO KEEP BEING THE BIGGEST FACTOR FOR DRY BULK FREIGHT RATES SAY READERS
With dry bulk freight rates staging a positive rally during most of May, the industry’s main benchmark, the Baltic Dry Index (BDI) has managed ...
Wednesday, 02 June 10
KIDECO TO PRODUCE 29.5 MILLION TONS OF COAL IN 2010
COALspot.com: Kideco to produce 29.5 million tons of coal in 2010 up 4.8 million or about 19 percent up from 2009 production. Kideco produced 24.7 m ...
Wednesday, 02 June 10
PLN TO DEVOUR 133 PERCENT MORE COAL IN NEXT FIVE YEARS
The Jakarta globe reported that, State electricity company PT Perusahaan Listrik Negara will more than double the amount of coal it uses over the ne ...
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- GAC Shipping (India) Pvt Ltd
- ASAPP Information Group - India
- Global Green Power PLC Corporation, Philippines
- Videocon Industries ltd - India
- Kumho Petrochemical, South Korea
- Alfred C Toepfer International GmbH - Germany
- Anglo American - United Kingdom
- Kalimantan Lumbung Energi - Indonesia
- Minerals Council of Australia
- Salva Resources Pvt Ltd - India
- Standard Chartered Bank - UAE
- Uttam Galva Steels Limited - India
- Binh Thuan Hamico - Vietnam
- Gujarat Electricity Regulatory Commission - India
- GMR Energy Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Orica Mining Services - Indonesia
- Indogreen Group - Indonesia
- Madhucon Powers Ltd - India
- GVK Power & Infra Limited - India
- Interocean Group of Companies - India
- Medco Energi Mining Internasional
- Energy Development Corp, Philippines
- Romanian Commodities Exchange
- Deloitte Consulting - India
- Meenaskhi Energy Private Limited - India
- Wilmar Investment Holdings
- Thai Mozambique Logistica
- Essar Steel Hazira Ltd - India
- Kepco SPC Power Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Electricity Generating Authority of Thailand
- Larsen & Toubro Limited - India
- Savvy Resources Ltd - HongKong
- The State Trading Corporation of India Ltd
- McConnell Dowell - Australia
- India Bulls Power Limited - India
- Renaissance Capital - South Africa
- CNBM International Corporation - China
- Chettinad Cement Corporation Ltd - India
- Cement Manufacturers Association - India
- VISA Power Limited - India
- Bhatia International Limited - India
- South Luzon Thermal Energy Corporation
- Leighton Contractors Pty Ltd - Australia
- CIMB Investment Bank - Malaysia
- Sarangani Energy Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Sindya Power Generating Company Private Ltd
- MS Steel International - UAE
- PowerSource Philippines DevCo
- Jaiprakash Power Ventures ltd
- Indian Energy Exchange, India
- San Jose City I Power Corp, Philippines
- Heidelberg Cement - Germany
- Wood Mackenzie - Singapore
- Eastern Coal Council - USA
- Australian Coal Association
- Eastern Energy - Thailand
- Thiess Contractors Indonesia
- Central Electricity Authority - India
- Coalindo Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- SMG Consultants - Indonesia
- Simpson Spence & Young - Indonesia
- Africa Commodities Group - South Africa
- SMC Global Power, Philippines
- IEA Clean Coal Centre - UK
- PetroVietnam Power Coal Import and Supply Company
- New Zealand Coal & Carbon
- Indonesian Coal Mining Association
- Ind-Barath Power Infra Limited - India
- Cigading International Bulk Terminal - Indonesia
- Agrawal Coal Company - India
- London Commodity Brokers - England
- AsiaOL BioFuels Corp., Philippines
- Baramulti Group, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Semirara Mining and Power Corporation, Philippines
- Semirara Mining Corp, Philippines
- Kideco Jaya Agung - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Aditya Birla Group - India
- Coastal Gujarat Power Limited - India
- Bukit Baiduri Energy - Indonesia
- Meralco Power Generation, Philippines
- Sical Logistics Limited - India
- Kartika Selabumi Mining - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Borneo Indobara - Indonesia
- Lanco Infratech Ltd - India
- Jindal Steel & Power Ltd - India
- Trasteel International SA, Italy
- Banpu Public Company Limited - Thailand
- The Treasury - Australian Government
- Ministry of Finance - Indonesia
- Global Coal Blending Company Limited - Australia
- Neyveli Lignite Corporation Ltd, - India
- Siam City Cement PLC, Thailand
- Karbindo Abesyapradhi - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- Toyota Tsusho Corporation, Japan
- Merrill Lynch Commodities Europe
- Indo Tambangraya Megah - Indonesia
- Singapore Mercantile Exchange
- Therma Luzon, Inc, Philippines
- Straits Asia Resources Limited - Singapore
- Australian Commodity Traders Exchange
- White Energy Company Limited
- Port Waratah Coal Services - Australia
- Pendopo Energi Batubara - Indonesia
- Petron Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Power Finance Corporation Ltd., India
- IHS Mccloskey Coal Group - USA
- Orica Australia Pty. Ltd.
- Bukit Makmur.PT - Indonesia
- Mintek Dendrill Indonesia
- LBH Netherlands Bv - Netherlands
- Star Paper Mills Limited - India
- Sakthi Sugars Limited - India
- Manunggal Multi Energi - Indonesia
- Edison Trading Spa - Italy
- Bayan Resources Tbk. - Indonesia
- Central Java Power - Indonesia
- Attock Cement Pakistan Limited
- Siam City Cement - Thailand
- Latin American Coal - Colombia
- Global Business Power Corporation, Philippines
- Mjunction Services Limited - India
- Sojitz Corporation - Japan
- International Coal Ventures Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Globalindo Alam Lestari - Indonesia
- Parliament of New Zealand
- Billiton Holdings Pty Ltd - Australia
- Samtan Co., Ltd - South Korea
- Kobexindo Tractors - Indoneisa
- Maharashtra Electricity Regulatory Commission - India
- Sinarmas Energy and Mining - Indonesia
- Grasim Industreis Ltd - India
- Planning Commission, India
- Makarim & Taira - Indonesia
- Price Waterhouse Coopers - Russia
- The University of Queensland
- Vedanta Resources Plc - India
- Oldendorff Carriers - Singapore
- Mercator Lines Limited - India
- Rio Tinto Coal - Australia
- GN Power Mariveles Coal Plant, Philippines
- Formosa Plastics Group - Taiwan
- Ministry of Transport, Egypt
- Goldman Sachs - Singapore
- Malabar Cements Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bhoruka Overseas - Indonesia
- SN Aboitiz Power Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- Economic Council, Georgia
- Bukit Asam (Persero) Tbk - Indonesia
- Miang Besar Coal Terminal - Indonesia
- PTC India Limited - India
- ICICI Bank Limited - India
- Bharathi Cement Corporation - India
- Chamber of Mines of South Africa
- Georgia Ports Authority, United States
- Antam Resourcindo - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Parry Sugars Refinery, India
- Barasentosa Lestari - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Asmin Koalindo Tuhup - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Marubeni Corporation - India
- Vizag Seaport Private Limited - India
- Altura Mining Limited, Indonesia
- Independent Power Producers Association of India
- Commonwealth Bank - Australia
- Dalmia Cement Bharat India
- Bulk Trading Sa - Switzerland
- Posco Energy - South Korea
- Ambuja Cements Ltd - India
- Riau Bara Harum - Indonesia
- Timah Investasi Mineral - Indoneisa
- Maheswari Brothers Coal Limited - India
- Gujarat Sidhee Cement - India
- Directorate General of MIneral and Coal - Indonesia
- TeaM Sual Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- European Bulk Services B.V. - Netherlands
- Aboitiz Power Corporation - Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Xindia Steels Limited - India
- Mercuria Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Electricity Authority, New Zealand
- Carbofer General Trading SA - India
- Indika Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Directorate Of Revenue Intelligence - India
- Kohat Cement Company Ltd. - Pakistan
- Rashtriya Ispat Nigam Limited - India
- Metalloyd Limited - United Kingdom
- Sree Jayajothi Cements Limited - India
- PNOC Exploration Corporation - Philippines
- Intertek Mineral Services - Indonesia
- Karaikal Port Pvt Ltd - India
- Bangladesh Power Developement Board
- Tamil Nadu electricity Board
- Kaltim Prima Coal - Indonesia
- Ministry of Mines - Canada
- Coal and Oil Company - UAE
- Indian Oil Corporation Limited
- Bhushan Steel Limited - India
- Tata Chemicals Ltd - India
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