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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, 15 July 10
NO IMPROVEMENT IN THE DRY BULK MARKET - INTERMODAL
Broker’s insight
With the Baltic Dry Index today (13/7/2010) standing at 1,790 points - the lowest point since early May 2009 - ...
Thursday, 15 July 10
IRON ORE PRICING MECHANISMS PUT ON THE SPOT
THE new iron ore pricing mechanisms that killed off the annual benchmark system are coming under pressure. The spot price of the steel feed has fall ...
Thursday, 15 July 10
NTPC TO PURSUE COAL MINE ACQUISITION IN AUSTRALIA, INDONESIA - BUSINESS STANDARD
Business-Standard reported that, NTPC, the India’s largest power producer, has set the ball rolling to acquire coal mines or form joint ventur ...
Wednesday, 14 July 10
SUCCESSFUL COMMISSIONING OF GTLE LOW RANK COAL UPGRADING PLANT
COALspot.com: GTL Energy Ltd (GTL Energy) announced that construction and commissioning of its proprietary ‘first-of-a-kind’, low rank c ...
Tuesday, 13 July 10
BUMI TO PRODUCE MORE THAN 67 MILLION TONS OF COAL IN 2010
COALspot.com: Bumi resources, Indonesia’s largest coal producer has previewed its operating results in KPC/Arutmin for Jan – Jun 2010. A ...
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- Savvy Resources Ltd - HongKong
- Merrill Lynch Commodities Europe
- Star Paper Mills Limited - India
- GVK Power & Infra Limited - India
- Ministry of Finance - Indonesia
- Tata Chemicals Ltd - India
- Globalindo Alam Lestari - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- India Bulls Power Limited - India
- Sojitz Corporation - Japan
- Electricity Generating Authority of Thailand
- Baramulti Group, Indonesia
- Indonesian Coal Mining Association
- Coal and Oil Company - UAE
- Australian Commodity Traders Exchange
- Kideco Jaya Agung - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Planning Commission, India
- Meralco Power Generation, Philippines
- Bangladesh Power Developement Board
- Bukit Makmur.PT - Indonesia
- Thiess Contractors Indonesia
- Iligan Light & Power Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Petron Corporation, Philippines
- PowerSource Philippines DevCo
- Indo Tambangraya Megah - Indonesia
- Cement Manufacturers Association - India
- Global Business Power Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Australian Coal Association
- Intertek Mineral Services - Indonesia
- Attock Cement Pakistan Limited
- Edison Trading Spa - Italy
- South Luzon Thermal Energy Corporation
- Malabar Cements Ltd - India
- Oldendorff Carriers - Singapore
- Commonwealth Bank - Australia
- Bhushan Steel Limited - India
- Energy Development Corp, Philippines
- White Energy Company Limited
- PTC India Limited - India
- Indika Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- Minerals Council of Australia
- Vijayanagar Sugar Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Xindia Steels Limited - India
- Power Finance Corporation Ltd., India
- San Jose City I Power Corp, Philippines
- Sree Jayajothi Cements Limited - India
- Altura Mining Limited, Indonesia
- GAC Shipping (India) Pvt Ltd
- Vizag Seaport Private Limited - India
- LBH Netherlands Bv - Netherlands
- ICICI Bank Limited - India
- Orica Australia Pty. Ltd.
- Kartika Selabumi Mining - Indonesia
- Bulk Trading Sa - Switzerland
- Metalloyd Limited - United Kingdom
- Siam City Cement PLC, Thailand
- Bukit Baiduri Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Agrawal Coal Company - India
- Meenaskhi Energy Private Limited - India
- Wood Mackenzie - Singapore
- International Coal Ventures Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Kaltim Prima Coal - Indonesia
- Eastern Energy - Thailand
- Bhoruka Overseas - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Gujarat Mineral Development Corp Ltd - India
- Economic Council, Georgia
- Electricity Authority, New Zealand
- Directorate Of Revenue Intelligence - India
- Pipit Mutiara Jaya. PT, Indonesia
- Chamber of Mines of South Africa
- Mercuria Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Mintek Dendrill Indonesia
- Price Waterhouse Coopers - Russia
- Georgia Ports Authority, United States
- Marubeni Corporation - India
- VISA Power Limited - India
- Semirara Mining Corp, Philippines
- European Bulk Services B.V. - Netherlands
- SMG Consultants - Indonesia
- Latin American Coal - Colombia
- AsiaOL BioFuels Corp., Philippines
- PNOC Exploration Corporation - Philippines
- Mjunction Services Limited - India
- Vedanta Resources Plc - India
- Directorate General of MIneral and Coal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Maharashtra Electricity Regulatory Commission - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Thai Mozambique Logistica
- Formosa Plastics Group - Taiwan
- Jaiprakash Power Ventures ltd
- SMC Global Power, Philippines
- CNBM International Corporation - China
- Tamil Nadu electricity Board
- Eastern Coal Council - USA
- Chettinad Cement Corporation Ltd - India
- Salva Resources Pvt Ltd - India
- Ministry of Mines - Canada
- Maheswari Brothers Coal Limited - India
- Coastal Gujarat Power Limited - India
- Africa Commodities Group - South Africa
- Binh Thuan Hamico - Vietnam
- Global Coal Blending Company Limited - Australia
- Kalimantan Lumbung Energi - Indonesia
- Gujarat Sidhee Cement - India
- Riau Bara Harum - Indonesia
- TeaM Sual Corporation - Philippines
- Indian Energy Exchange, India
- Carbofer General Trading SA - India
- Medco Energi Mining Internasional
- SN Aboitiz Power Inc, Philippines
- Madhucon Powers Ltd - India
- Anglo American - United Kingdom
- Energy Link Ltd, New Zealand
- Straits Asia Resources Limited - Singapore
- IHS Mccloskey Coal Group - USA
- Siam City Cement - Thailand
- Mercator Lines Limited - India
- Renaissance Capital - South Africa
- Indian Oil Corporation Limited
- Central Java Power - Indonesia
- Romanian Commodities Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Posco Energy - South Korea
- Sinarmas Energy and Mining - Indonesia
- Central Electricity Authority - India
- Sakthi Sugars Limited - India
- Interocean Group of Companies - India
- GMR Energy Limited - India
- Timah Investasi Mineral - Indoneisa
- Parliament of New Zealand
- Lanco Infratech Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Singapore Mercantile Exchange
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Grasim Industreis Ltd - India
- Indogreen Group - Indonesia
- McConnell Dowell - Australia
- CIMB Investment Bank - Malaysia
- Leighton Contractors Pty Ltd - Australia
- Billiton Holdings Pty Ltd - Australia
- Barasentosa Lestari - Indonesia
- Sindya Power Generating Company Private Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Samtan Co., Ltd - South Korea
- Goldman Sachs - Singapore
- Rashtriya Ispat Nigam Limited - India
- ASAPP Information Group - India
- Ind-Barath Power Infra Limited - India
- Aboitiz Power Corporation - Philippines
- OPG Power Generation Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Pendopo Energi Batubara - Indonesia
- Borneo Indobara - Indonesia
- Coalindo Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Aditya Birla Group - India
- Antam Resourcindo - Indonesia
- Essar Steel Hazira Ltd - India
- Deloitte Consulting - India
- Wilmar Investment Holdings
- Parry Sugars Refinery, India
- Bhatia International Limited - India
- New Zealand Coal & Carbon
- Kohat Cement Company Ltd. - Pakistan
- Standard Chartered Bank - UAE
- Banpu Public Company Limited - Thailand
- MS Steel International - UAE
- Karbindo Abesyapradhi - Indoneisa
- Independent Power Producers Association of India
- Cigading International Bulk Terminal - Indonesia
- Sical Logistics Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Holcim Trading Pte Ltd - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Heidelberg Cement - Germany
- Larsen & Toubro Limited - India
- London Commodity Brokers - England
- Ministry of Transport, Egypt
- Therma Luzon, Inc, Philippines
- Bharathi Cement Corporation - India
- Rio Tinto Coal - Australia
- Manunggal Multi Energi - Indonesia
- Kepco SPC Power Corporation, Philippines
- Ambuja Cements Ltd - India
- Toyota Tsusho Corporation, Japan
- Kumho Petrochemical, South Korea
- Miang Besar Coal Terminal - Indonesia
- Kobexindo Tractors - Indoneisa
- The Treasury - Australian Government
- Port Waratah Coal Services - Australia
- Neyveli Lignite Corporation Ltd, - India
- Karaikal Port Pvt Ltd - India
- Videocon Industries ltd - India
- The State Trading Corporation of India Ltd
- Makarim & Taira - Indonesia
- Orica Mining Services - Indonesia
- IEA Clean Coal Centre - UK
- The University of Queensland
- Dalmia Cement Bharat India
- Trasteel International SA, Italy
- Sarangani Energy Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
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