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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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Tuesday, 01 June 10
LANCO INFRATECH PLANS POWER PROJECTS IN COASTAL REGIONS
My digital reported that, Hyderabad-based Lanco Infratech will set up power projects in coastal regions based on imported coal. The company is ...
Monday, 31 May 10
NEWCASTLE WEEKLY EXPORTS RISE; SHIP QUEUE SHORTENS
Business week reported that, Coal shipments from Australia’s Newcastle port, the world’s biggest export harbor for the fuel used in powe ...
Saturday, 29 May 10
FREIGHT MARKET SEEMS TO BE STABILIZING - CAPT. REDDY
COALspot.com: The week was clearly for Cape which went up by almost 21 pct . The BDI was up only by 6 pct.
The other sectors were under pressure ...
Friday, 28 May 10
BERAU COAL GROUP SEEKS US$ 700 M LOAN
PT Bukit Mutiara has decided to revise down its bond issue from US$600 million to US$400 million. In total, it is seeking US$700 million of debt, co ...
Friday, 28 May 10
CHINESE BAN TO HIT INDIAN IRON ORE EXPORTS
Nearly half of India's iron ore exports to China are in serious danger of being wiped out. The local government has imposed a ban on import of low ...
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- Bhatia International Limited - India
- OPG Power Generation Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Bahari Cakrawala Sebuku - Indonesia
- ICICI Bank Limited - India
- Manunggal Multi Energi - Indonesia
- Petron Corporation, Philippines
- Indian Oil Corporation Limited
- Posco Energy - South Korea
- Jaiprakash Power Ventures ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ambuja Cements Ltd - India
- White Energy Company Limited
- Iligan Light & Power Inc, Philippines
- IHS Mccloskey Coal Group - USA
- Sree Jayajothi Cements Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Chamber of Mines of South Africa
- Binh Thuan Hamico - Vietnam
- Jindal Steel & Power Ltd - India
- Chettinad Cement Corporation Ltd - India
- Intertek Mineral Services - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Heidelberg Cement - Germany
- Ind-Barath Power Infra Limited - India
- Marubeni Corporation - India
- Antam Resourcindo - Indonesia
- South Luzon Thermal Energy Corporation
- Australian Coal Association
- Price Waterhouse Coopers - Russia
- San Jose City I Power Corp, Philippines
- Rashtriya Ispat Nigam Limited - India
- Sojitz Corporation - Japan
- Minerals Council of Australia
- Gujarat Electricity Regulatory Commission - India
- Maheswari Brothers Coal Limited - India
- Malabar Cements Ltd - India
- Barasentosa Lestari - Indonesia
- Wilmar Investment Holdings
- GAC Shipping (India) Pvt Ltd
- Central Java Power - Indonesia
- New Zealand Coal & Carbon
- Ministry of Mines - Canada
- Ministry of Transport, Egypt
- Dalmia Cement Bharat India
- Billiton Holdings Pty Ltd - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Coastal Gujarat Power Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Ministry of Finance - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Power Finance Corporation Ltd., India
- Metalloyd Limited - United Kingdom
- Banpu Public Company Limited - Thailand
- MS Steel International - UAE
- Formosa Plastics Group - Taiwan
- Wood Mackenzie - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Thiess Contractors Indonesia
- Australian Commodity Traders Exchange
- Kumho Petrochemical, South Korea
- Independent Power Producers Association of India
- PetroVietnam Power Coal Import and Supply Company
- The State Trading Corporation of India Ltd
- Bukit Makmur.PT - Indonesia
- Pendopo Energi Batubara - Indonesia
- Eastern Coal Council - USA
- PTC India Limited - India
- PNOC Exploration Corporation - Philippines
- Indonesian Coal Mining Association
- Madhucon Powers Ltd - India
- Global Business Power Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Makarim & Taira - Indonesia
- Medco Energi Mining Internasional
- Larsen & Toubro Limited - India
- Mjunction Services Limited - India
- Straits Asia Resources Limited - Singapore
- Directorate Of Revenue Intelligence - India
- Sakthi Sugars Limited - India
- Cigading International Bulk Terminal - Indonesia
- Latin American Coal - Colombia
- Xindia Steels Limited - India
- Bharathi Cement Corporation - India
- Kohat Cement Company Ltd. - Pakistan
- Gujarat Mineral Development Corp Ltd - India
- Siam City Cement PLC, Thailand
- Romanian Commodities Exchange
- Commonwealth Bank - Australia
- Karaikal Port Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Sical Logistics Limited - India
- Altura Mining Limited, Indonesia
- Timah Investasi Mineral - Indoneisa
- Vedanta Resources Plc - India
- PowerSource Philippines DevCo
- Offshore Bulk Terminal Pte Ltd, Singapore
- Siam City Cement - Thailand
- Essar Steel Hazira Ltd - India
- VISA Power Limited - India
- Cement Manufacturers Association - India
- Bangladesh Power Developement Board
- Trasteel International SA, Italy
- India Bulls Power Limited - India
- Standard Chartered Bank - UAE
- Coalindo Energy - Indonesia
- CIMB Investment Bank - Malaysia
- SMG Consultants - Indonesia
- Kepco SPC Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Toyota Tsusho Corporation, Japan
- Edison Trading Spa - Italy
- Therma Luzon, Inc, Philippines
- Oldendorff Carriers - Singapore
- GVK Power & Infra Limited - India
- Kideco Jaya Agung - Indonesia
- Goldman Sachs - Singapore
- Interocean Group of Companies - India
- Thai Mozambique Logistica
- Anglo American - United Kingdom
- Indian Energy Exchange, India
- Sarangani Energy Corporation, Philippines
- Videocon Industries ltd - India
- Merrill Lynch Commodities Europe
- Carbofer General Trading SA - India
- Globalindo Alam Lestari - Indonesia
- Gujarat Sidhee Cement - India
- Savvy Resources Ltd - HongKong
- Vizag Seaport Private Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- London Commodity Brokers - England
- Orica Australia Pty. Ltd.
- Lanco Infratech Ltd - India
- Bukit Baiduri Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Semirara Mining and Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- SMC Global Power, Philippines
- Sindya Power Generating Company Private Ltd
- Parry Sugars Refinery, India
- Agrawal Coal Company - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Deloitte Consulting - India
- Bulk Trading Sa - Switzerland
- Energy Link Ltd, New Zealand
- Bhushan Steel Limited - India
- Baramulti Group, Indonesia
- Riau Bara Harum - Indonesia
- The Treasury - Australian Government
- Georgia Ports Authority, United States
- Eastern Energy - Thailand
- Africa Commodities Group - South Africa
- Directorate General of MIneral and Coal - Indonesia
- Salva Resources Pvt Ltd - India
- GMR Energy Limited - India
- Tata Chemicals Ltd - India
- Global Coal Blending Company Limited - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Coal and Oil Company - UAE
- Kartika Selabumi Mining - Indonesia
- Mintek Dendrill Indonesia
- Simpson Spence & Young - Indonesia
- Semirara Mining Corp, Philippines
- Singapore Mercantile Exchange
- Star Paper Mills Limited - India
- Mercator Lines Limited - India
- Orica Mining Services - Indonesia
- Mercuria Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Grasim Industreis Ltd - India
- Aboitiz Power Corporation - Philippines
- Kapuas Tunggal Persada - Indonesia
- Borneo Indobara - Indonesia
- Attock Cement Pakistan Limited
- The University of Queensland
- Economic Council, Georgia
- Central Electricity Authority - India
- Sinarmas Energy and Mining - Indonesia
- Global Green Power PLC Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Indogreen Group - Indonesia
- Port Waratah Coal Services - Australia
- Indo Tambangraya Megah - Indonesia
- Renaissance Capital - South Africa
- Uttam Galva Steels Limited - India
- Kalimantan Lumbung Energi - Indonesia
- ASAPP Information Group - India
- Electricity Generating Authority of Thailand
- Ceylon Electricity Board - Sri Lanka
- Kaltim Prima Coal - Indonesia
- Electricity Authority, New Zealand
- Planning Commission, India
- IEA Clean Coal Centre - UK
- Parliament of New Zealand
- CNBM International Corporation - China
- Tamil Nadu electricity Board
- Leighton Contractors Pty Ltd - Australia
- Meralco Power Generation, Philippines
- Kobexindo Tractors - Indoneisa
- Samtan Co., Ltd - South Korea
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Rio Tinto Coal - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Bhoruka Overseas - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Aditya Birla Group - India
- Meenaskhi Energy Private Limited - India
- Energy Development Corp, Philippines
- Indika Energy - Indonesia
- McConnell Dowell - Australia
- European Bulk Services B.V. - Netherlands
- LBH Netherlands Bv - Netherlands
- Neyveli Lignite Corporation Ltd, - India
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