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Monday, 05 April 10
RI TO SET REFERENCE FOR COMMODITIES - THE JAKARTA POST
 The Jakarta Post reported that, Indonesia is set to help establish global reference prices for mining and agricultural commodities, with the establishment of a privately owned Indonesia Commodity and Derivatives Exchange (ICDX).
The new exchange is expected to help improve the country’s underdeveloped futures market and make the country the fifth largest commodity futures exchange in the world, says Commodity Futures Trading Supervisory Board (Bappebti) head Deddy Saleh.
“We have permitted the establishment of a new exchange … because we’ve seen in the last 10 years that there have been no satisfactory results since the BBJ [Jakarta Futures Exchange] was established [in 2000],” he told reporters during a conference after the official launch of the ICDX.
He said the BBJ should have served as a price reference and a place for hedging but it had failed due to “the absence of competitors and slow management”.
According to Deddy, 98 percent of transactions occurring in the BBJ were alternative trading, such as foreign exchange and indexing, which were yet to be regulated.
“This [ICDX] is privately owned. A private company won’t play around with their capital,” said Deddy.
ICDX president director Megain Widjaja said trading in the ICDX would be transparent as transaction data could be accessed online and later on TV.
“We have cooperated with Bloomberg. But transactions are still closed [for time being] … We’ll later cooperate with Reuters so [transactions] can be accessed online and can be seen on TV and the internet.”
Trade Minister Mari Elka Pangestu, who was also present, said: “The importance of a commodity futures exchange is that transactions will be more liquid, more transparent and [we can be] a price reference,” she said.
She said farmers would have more bargaining power on prices when negotiating with their buyers, and thus, cartel practices — control over prices of a commodity by certain parties — could be avoided.
She also said foreign brokers and market traders were now allowed to trade in the exchange to make the country’s commodity futures exchange perform better.
The ICDX is now trading gold and crude palm oil (CPO) futures contracts.
The ICDX has listed 15 members, seven of whom are CPO producers. The members are PT Wilmar Nabati Indonesia, publicly listed PT Sinar Mas Agro Resources, publicly listed PT Sampoerna Agro, PT Duta Palma Nusantara, publicly listed PT BW Plantation, PT Palm Mas Asri, PT Danpac Futures, PT Valbury Asia Futures, PT Sinarmas Futures, PT Universal Futures, PT Aperdi and PT Monex Investindo.
The senior economist of Standard Chartered Bank Fauzi Ichsan said with Indonesia being the world’s largest CPO producer, “it is time to have a commodity futures exchange”. But, he said, big investors would likely trade in Singapore as the latter’s market was more liquid. “We hope they’re not only listed [in the ICDX] but that they will also trade in Indonesia,” he told The Jakarta Post.
Source: The Jakarta Post
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Tuesday, 04 May 10
APRIL 2010 COAL PRICE REFERENCE WAS US$ 86.58/T FOB VESSEL
COALspot.com: The directorate general of mineral, coal and geothermal of Indonesia has publishing a monthly coal price reference (HBA) to be used by ...
Tuesday, 04 May 10
DRY BULK MARKET SOFTENING AGAIN ON LACK OF DIRECTION
The dry bulk market has put on the brakes once again, after the last session of the Baltic Dry Index ended at 3,354 points, down 5 from the previous ...
Monday, 03 May 10
AUSTRALIA PLANS 40 PERCENT TAX ON MINING PROFITS - THE JAKARTA POST
The Jakarta Post reported that, Australia would heavily tax the booming profits of its mining companies under a tax system overhaul proposed Sunday ...
Saturday, 01 May 10
THE PERIOD ACTIVITY WAS QUITE FIRM DURING THE WEEK - CAPT. REDDY
COALspot.com: The BDI was up by 11.32 pct which was mainly due to the firmness in capsize index which was up by 21.55 pct .
The other sectors Pan ...
Saturday, 01 May 10
EXPANDED SA COAL TERMINAL TO START OPERATIONS ON MAY 1 - MINING WEEKLY
Mining Weekly reported that, In line with expectations, the Richards Bay Coal Terminal (RBCT) had completed the R1,2-billion Phase V expansion ...
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- GMR Energy Limited - India
- Romanian Commodities Exchange
- Bhatia International Limited - India
- Uttam Galva Steels Limited - India
- Minerals Council of Australia
- Petron Corporation, Philippines
- Altura Mining Limited, Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Therma Luzon, Inc, Philippines
- White Energy Company Limited
- Sindya Power Generating Company Private Ltd
- Mjunction Services Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indian Energy Exchange, India
- Anglo American - United Kingdom
- Siam City Cement PLC, Thailand
- Barasentosa Lestari - Indonesia
- Mercuria Energy - Indonesia
- Bangladesh Power Developement Board
- Xindia Steels Limited - India
- European Bulk Services B.V. - Netherlands
- Binh Thuan Hamico - Vietnam
- Madhucon Powers Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Baramulti Group, Indonesia
- Kumho Petrochemical, South Korea
- Wood Mackenzie - Singapore
- Formosa Plastics Group - Taiwan
- Heidelberg Cement - Germany
- Energy Link Ltd, New Zealand
- Bank of Tokyo Mitsubishi UFJ Ltd
- SMC Global Power, Philippines
- Aboitiz Power Corporation - Philippines
- GAC Shipping (India) Pvt Ltd
- Parliament of New Zealand
- San Jose City I Power Corp, Philippines
- Bhushan Steel Limited - India
- Star Paper Mills Limited - India
- India Bulls Power Limited - India
- Tata Chemicals Ltd - India
- Central Electricity Authority - India
- London Commodity Brokers - England
- Bukit Baiduri Energy - Indonesia
- Edison Trading Spa - Italy
- Alfred C Toepfer International GmbH - Germany
- Kobexindo Tractors - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- Meralco Power Generation, Philippines
- Power Finance Corporation Ltd., India
- Simpson Spence & Young - Indonesia
- Carbofer General Trading SA - India
- Rashtriya Ispat Nigam Limited - India
- Indo Tambangraya Megah - Indonesia
- Jindal Steel & Power Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bhoruka Overseas - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Kepco SPC Power Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Asmin Koalindo Tuhup - Indonesia
- Borneo Indobara - Indonesia
- Sojitz Corporation - Japan
- Tamil Nadu electricity Board
- Bharathi Cement Corporation - India
- Riau Bara Harum - Indonesia
- Savvy Resources Ltd - HongKong
- Ambuja Cements Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Ministry of Transport, Egypt
- Central Java Power - Indonesia
- Jaiprakash Power Ventures ltd
- ASAPP Information Group - India
- Orica Australia Pty. Ltd.
- New Zealand Coal & Carbon
- Semirara Mining Corp, Philippines
- Chamber of Mines of South Africa
- Billiton Holdings Pty Ltd - Australia
- PowerSource Philippines DevCo
- Banpu Public Company Limited - Thailand
- South Luzon Thermal Energy Corporation
- Holcim Trading Pte Ltd - Singapore
- Bayan Resources Tbk. - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Attock Cement Pakistan Limited
- Rio Tinto Coal - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Iligan Light & Power Inc, Philippines
- Gujarat Sidhee Cement - India
- Standard Chartered Bank - UAE
- Samtan Co., Ltd - South Korea
- Maheswari Brothers Coal Limited - India
- Sakthi Sugars Limited - India
- Indika Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Goldman Sachs - Singapore
- Georgia Ports Authority, United States
- Electricity Authority, New Zealand
- Ministry of Finance - Indonesia
- Aditya Birla Group - India
- Lanco Infratech Ltd - India
- Merrill Lynch Commodities Europe
- GVK Power & Infra Limited - India
- VISA Power Limited - India
- Africa Commodities Group - South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kaltim Prima Coal - Indonesia
- Electricity Generating Authority of Thailand
- Toyota Tsusho Corporation, Japan
- Coastal Gujarat Power Limited - India
- Intertek Mineral Services - Indonesia
- Straits Asia Resources Limited - Singapore
- Cement Manufacturers Association - India
- PNOC Exploration Corporation - Philippines
- Kideco Jaya Agung - Indonesia
- IEA Clean Coal Centre - UK
- Independent Power Producers Association of India
- Kohat Cement Company Ltd. - Pakistan
- Manunggal Multi Energi - Indonesia
- Bulk Trading Sa - Switzerland
- Australian Coal Association
- Economic Council, Georgia
- Energy Development Corp, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indonesian Coal Mining Association
- Wilmar Investment Holdings
- Eastern Coal Council - USA
- Eastern Energy - Thailand
- The State Trading Corporation of India Ltd
- Coalindo Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Dalmia Cement Bharat India
- Siam City Cement - Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Latin American Coal - Colombia
- Mercator Lines Limited - India
- Essar Steel Hazira Ltd - India
- Grasim Industreis Ltd - India
- Vizag Seaport Private Limited - India
- Makarim & Taira - Indonesia
- Salva Resources Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Sinarmas Energy and Mining - Indonesia
- Medco Energi Mining Internasional
- Renaissance Capital - South Africa
- ICICI Bank Limited - India
- The Treasury - Australian Government
- PTC India Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- TeaM Sual Corporation - Philippines
- Thiess Contractors Indonesia
- Parry Sugars Refinery, India
- Deloitte Consulting - India
- International Coal Ventures Pvt Ltd - India
- Planning Commission, India
- Ministry of Mines - Canada
- Posco Energy - South Korea
- Directorate General of MIneral and Coal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Global Business Power Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Global Green Power PLC Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Port Waratah Coal Services - Australia
- Bukit Makmur.PT - Indonesia
- OPG Power Generation Pvt Ltd - India
- Orica Mining Services - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- CIMB Investment Bank - Malaysia
- Mintek Dendrill Indonesia
- CNBM International Corporation - China
- Indian Oil Corporation Limited
- AsiaOL BioFuels Corp., Philippines
- Global Coal Blending Company Limited - Australia
- Globalindo Alam Lestari - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Singapore Mercantile Exchange
- Thai Mozambique Logistica
- Vijayanagar Sugar Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- SN Aboitiz Power Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Meenaskhi Energy Private Limited - India
- Gujarat Electricity Regulatory Commission - India
- Pendopo Energi Batubara - Indonesia
- Videocon Industries ltd - India
- Krishnapatnam Port Company Ltd. - India
- MS Steel International - UAE
- The University of Queensland
- Karbindo Abesyapradhi - Indoneisa
- Trasteel International SA, Italy
- Oldendorff Carriers - Singapore
- Karaikal Port Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- IHS Mccloskey Coal Group - USA
- Indogreen Group - Indonesia
- Directorate Of Revenue Intelligence - India
- Agrawal Coal Company - India
- Sarangani Energy Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Commonwealth Bank - Australia
- Coal and Oil Company - UAE
- SMG Consultants - Indonesia
- Antam Resourcindo - Indonesia
- McConnell Dowell - Australia
- GN Power Mariveles Coal Plant, Philippines
- Australian Commodity Traders Exchange
- Leighton Contractors Pty Ltd - Australia
- Vedanta Resources Plc - India
- Larsen & Toubro Limited - India
- Interocean Group of Companies - India
- Marubeni Corporation - India
- Malabar Cements Ltd - India
- Sical Logistics Limited - India
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