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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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- Deloitte Consulting - India
- GVK Power & Infra Limited - India
- Kobexindo Tractors - Indoneisa
- Anglo American - United Kingdom
- Sakthi Sugars Limited - India
- OPG Power Generation Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Bayan Resources Tbk. - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Makarim & Taira - Indonesia
- Minerals Council of Australia
- Economic Council, Georgia
- Heidelberg Cement - Germany
- Bahari Cakrawala Sebuku - Indonesia
- Global Business Power Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Indonesian Coal Mining Association
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- ASAPP Information Group - India
- Leighton Contractors Pty Ltd - Australia
- Kepco SPC Power Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Commonwealth Bank - Australia
- The Treasury - Australian Government
- Maheswari Brothers Coal Limited - India
- Sical Logistics Limited - India
- Eastern Coal Council - USA
- Semirara Mining and Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Goldman Sachs - Singapore
- Wood Mackenzie - Singapore
- Uttam Galva Steels Limited - India
- Globalindo Alam Lestari - Indonesia
- Jaiprakash Power Ventures ltd
- Rio Tinto Coal - Australia
- PowerSource Philippines DevCo
- CIMB Investment Bank - Malaysia
- Coastal Gujarat Power Limited - India
- International Coal Ventures Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Gujarat Mineral Development Corp Ltd - India
- Bharathi Cement Corporation - India
- New Zealand Coal & Carbon
- Australian Commodity Traders Exchange
- ICICI Bank Limited - India
- The State Trading Corporation of India Ltd
- Ambuja Cements Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Power Finance Corporation Ltd., India
- Karbindo Abesyapradhi - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- Savvy Resources Ltd - HongKong
- Independent Power Producers Association of India
- Bukit Baiduri Energy - Indonesia
- Bhatia International Limited - India
- European Bulk Services B.V. - Netherlands
- Eastern Energy - Thailand
- Toyota Tsusho Corporation, Japan
- Krishnapatnam Port Company Ltd. - India
- Thiess Contractors Indonesia
- GN Power Mariveles Coal Plant, Philippines
- London Commodity Brokers - England
- Jindal Steel & Power Ltd - India
- Siam City Cement PLC, Thailand
- GMR Energy Limited - India
- Dalmia Cement Bharat India
- Formosa Plastics Group - Taiwan
- Thai Mozambique Logistica
- Offshore Bulk Terminal Pte Ltd, Singapore
- Parry Sugars Refinery, India
- Aboitiz Power Corporation - Philippines
- Iligan Light & Power Inc, Philippines
- Aditya Birla Group - India
- Attock Cement Pakistan Limited
- Miang Besar Coal Terminal - Indonesia
- Singapore Mercantile Exchange
- Intertek Mineral Services - Indonesia
- Sarangani Energy Corporation, Philippines
- Mjunction Services Limited - India
- Indika Energy - Indonesia
- Sojitz Corporation - Japan
- Kideco Jaya Agung - Indonesia
- Simpson Spence & Young - Indonesia
- Africa Commodities Group - South Africa
- Meralco Power Generation, Philippines
- Standard Chartered Bank - UAE
- Central Electricity Authority - India
- San Jose City I Power Corp, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Riau Bara Harum - Indonesia
- Romanian Commodities Exchange
- The University of Queensland
- Indo Tambangraya Megah - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Tamil Nadu electricity Board
- Kaltim Prima Coal - Indonesia
- Xindia Steels Limited - India
- PTC India Limited - India
- Sinarmas Energy and Mining - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Ministry of Mines - Canada
- Georgia Ports Authority, United States
- Kalimantan Lumbung Energi - Indonesia
- Madhucon Powers Ltd - India
- Ministry of Transport, Egypt
- Lanco Infratech Ltd - India
- Tata Chemicals Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Meenaskhi Energy Private Limited - India
- Indian Oil Corporation Limited
- Coal and Oil Company - UAE
- Karaikal Port Pvt Ltd - India
- SMG Consultants - Indonesia
- Interocean Group of Companies - India
- Indogreen Group - Indonesia
- Vizag Seaport Private Limited - India
- Binh Thuan Hamico - Vietnam
- Salva Resources Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Videocon Industries ltd - India
- SMC Global Power, Philippines
- Orica Australia Pty. Ltd.
- Kumho Petrochemical, South Korea
- Carbofer General Trading SA - India
- Mercuria Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Manunggal Multi Energi - Indonesia
- Latin American Coal - Colombia
- Energy Development Corp, Philippines
- Marubeni Corporation - India
- Borneo Indobara - Indonesia
- Parliament of New Zealand
- Price Waterhouse Coopers - Russia
- GAC Shipping (India) Pvt Ltd
- Essar Steel Hazira Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Baramulti Group, Indonesia
- Electricity Authority, New Zealand
- Vedanta Resources Plc - India
- McConnell Dowell - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Banpu Public Company Limited - Thailand
- Central Java Power - Indonesia
- Wilmar Investment Holdings
- Mercator Lines Limited - India
- Cigading International Bulk Terminal - Indonesia
- Cement Manufacturers Association - India
- Neyveli Lignite Corporation Ltd, - India
- Ind-Barath Power Infra Limited - India
- Chettinad Cement Corporation Ltd - India
- Semirara Mining Corp, Philippines
- Global Coal Blending Company Limited - Australia
- Directorate General of MIneral and Coal - Indonesia
- Bhoruka Overseas - Indonesia
- SN Aboitiz Power Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- TNB Fuel Sdn Bhd - Malaysia
- LBH Netherlands Bv - Netherlands
- Petron Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Grasim Industreis Ltd - India
- Bhushan Steel Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Planning Commission, India
- CNBM International Corporation - China
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Chamber of Mines of South Africa
- Kartika Selabumi Mining - Indonesia
- Gujarat Electricity Regulatory Commission - India
- India Bulls Power Limited - India
- Kapuas Tunggal Persada - Indonesia
- Samtan Co., Ltd - South Korea
- White Energy Company Limited
- Indian Energy Exchange, India
- Siam City Cement - Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Therma Luzon, Inc, Philippines
- Ministry of Finance - Indonesia
- Bukit Makmur.PT - Indonesia
- Merrill Lynch Commodities Europe
- Electricity Generating Authority of Thailand
- VISA Power Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Star Paper Mills Limited - India
- Larsen & Toubro Limited - India
- Bangladesh Power Developement Board
- Bank of Tokyo Mitsubishi UFJ Ltd
- Holcim Trading Pte Ltd - Singapore
- Bulk Trading Sa - Switzerland
- MS Steel International - UAE
- Gujarat Sidhee Cement - India
- Malabar Cements Ltd - India
- Agrawal Coal Company - India
- IHS Mccloskey Coal Group - USA
- Orica Mining Services - Indonesia
- Oldendorff Carriers - Singapore
- Medco Energi Mining Internasional
- Jorong Barutama Greston.PT - Indonesia
- Directorate Of Revenue Intelligence - India
- Trasteel International SA, Italy
- Australian Coal Association
- Posco Energy - South Korea
- Antam Resourcindo - Indonesia
- Metalloyd Limited - United Kingdom
- Edison Trading Spa - Italy
- Renaissance Capital - South Africa
- Straits Asia Resources Limited - Singapore
- TeaM Sual Corporation - Philippines
- AsiaOL BioFuels Corp., Philippines
- South Luzon Thermal Energy Corporation
- Global Green Power PLC Corporation, Philippines
- Mintek Dendrill Indonesia
- Coalindo Energy - Indonesia
- Barasentosa Lestari - Indonesia
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