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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, 13 July 10
FURTHER LOSSES FOR BALTIC DRY INDEX ON HIGH VESSEL SUPPLY
The dry bulk market can’t catch a breath, as it has now entered the 7th straight week of losses. The industry’s benchmark, the Baltic Dr ...
Sunday, 11 July 10
OVERALL NO OR NEGLIGIBLE IMPACT IN ARUTMIN MINE - BUMI
COALspot.com: Bumi denies the media reports on an impact of unusually rains on coal production in BUMI mines.
"Arutmin is being impacted by ...
Saturday, 10 July 10
FREIGHT MARKET SITUATION MAY CONTINUE FOR NEXT COUPLE OF WEEKS - VISTAAR
COALspot.com: The market continued to soften further with the cape and panamax index down by about 20 pct and closed at 2,102 and 1,944 points respe ...
Saturday, 10 July 10
STC OF INDIA TO ASSOCIATE WITH FUEL SUPPLIERS
COALspot.com: State Trading corporation of India, which is under Ministry of Commerce, has invited Expression of Interest from coal suppliers ...
Saturday, 10 July 10
SCOMI TO SELL STAKE IN INDONESIA OPS - THE STAR
The star online reported that, Scomi Marine Bhd will sell a stake in its marine logistics business in Indonesia to a large Indonesian company to dea ...
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- Bukit Baiduri Energy - Indonesia
- Wilmar Investment Holdings
- Ministry of Mines - Canada
- Indian Oil Corporation Limited
- Sarangani Energy Corporation, Philippines
- Salva Resources Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Banpu Public Company Limited - Thailand
- Heidelberg Cement - Germany
- Indo Tambangraya Megah - Indonesia
- Commonwealth Bank - Australia
- PNOC Exploration Corporation - Philippines
- Meralco Power Generation, Philippines
- Petron Corporation, Philippines
- Vizag Seaport Private Limited - India
- SMC Global Power, Philippines
- Semirara Mining Corp, Philippines
- Samtan Co., Ltd - South Korea
- Goldman Sachs - Singapore
- Port Waratah Coal Services - Australia
- Economic Council, Georgia
- Asmin Koalindo Tuhup - Indonesia
- Standard Chartered Bank - UAE
- Pipit Mutiara Jaya. PT, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Parliament of New Zealand
- Maharashtra Electricity Regulatory Commission - India
- Australian Coal Association
- TeaM Sual Corporation - Philippines
- Aditya Birla Group - India
- Mjunction Services Limited - India
- Chettinad Cement Corporation Ltd - India
- Carbofer General Trading SA - India
- Simpson Spence & Young - Indonesia
- London Commodity Brokers - England
- Petrochimia International Co. Ltd.- Taiwan
- Bukit Asam (Persero) Tbk - Indonesia
- OPG Power Generation Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Global Business Power Corporation, Philippines
- India Bulls Power Limited - India
- Larsen & Toubro Limited - India
- Holcim Trading Pte Ltd - Singapore
- Kobexindo Tractors - Indoneisa
- Sojitz Corporation - Japan
- Malabar Cements Ltd - India
- Rio Tinto Coal - Australia
- GAC Shipping (India) Pvt Ltd
- Miang Besar Coal Terminal - Indonesia
- MS Steel International - UAE
- Globalindo Alam Lestari - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Renaissance Capital - South Africa
- GN Power Mariveles Coal Plant, Philippines
- Global Green Power PLC Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mintek Dendrill Indonesia
- Bukit Makmur.PT - Indonesia
- Independent Power Producers Association of India
- Sindya Power Generating Company Private Ltd
- Kaltim Prima Coal - Indonesia
- Ministry of Finance - Indonesia
- Latin American Coal - Colombia
- International Coal Ventures Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Meenaskhi Energy Private Limited - India
- Straits Asia Resources Limited - Singapore
- Bangladesh Power Developement Board
- SMG Consultants - Indonesia
- Kepco SPC Power Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Bhushan Steel Limited - India
- Ceylon Electricity Board - Sri Lanka
- Price Waterhouse Coopers - Russia
- Energy Link Ltd, New Zealand
- Romanian Commodities Exchange
- Iligan Light & Power Inc, Philippines
- The University of Queensland
- Directorate Of Revenue Intelligence - India
- Alfred C Toepfer International GmbH - Germany
- Grasim Industreis Ltd - India
- Marubeni Corporation - India
- Bayan Resources Tbk. - Indonesia
- Bulk Trading Sa - Switzerland
- Videocon Industries ltd - India
- White Energy Company Limited
- Eastern Energy - Thailand
- Mercator Lines Limited - India
- Tamil Nadu electricity Board
- Central Electricity Authority - India
- VISA Power Limited - India
- Baramulti Group, Indonesia
- GMR Energy Limited - India
- Electricity Generating Authority of Thailand
- Sical Logistics Limited - India
- Manunggal Multi Energi - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Agrawal Coal Company - India
- PTC India Limited - India
- Siam City Cement PLC, Thailand
- Deloitte Consulting - India
- Bhoruka Overseas - Indonesia
- McConnell Dowell - Australia
- Formosa Plastics Group - Taiwan
- San Jose City I Power Corp, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Georgia Ports Authority, United States
- Maheswari Brothers Coal Limited - India
- Ind-Barath Power Infra Limited - India
- Minerals Council of Australia
- Kideco Jaya Agung - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Coalindo Energy - Indonesia
- CNBM International Corporation - China
- Coastal Gujarat Power Limited - India
- Timah Investasi Mineral - Indoneisa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Parry Sugars Refinery, India
- Karaikal Port Pvt Ltd - India
- Mercuria Energy - Indonesia
- Africa Commodities Group - South Africa
- Riau Bara Harum - Indonesia
- Merrill Lynch Commodities Europe
- Aboitiz Power Corporation - Philippines
- PetroVietnam Power Coal Import and Supply Company
- Leighton Contractors Pty Ltd - Australia
- Kohat Cement Company Ltd. - Pakistan
- CIMB Investment Bank - Malaysia
- Xindia Steels Limited - India
- Sree Jayajothi Cements Limited - India
- LBH Netherlands Bv - Netherlands
- Binh Thuan Hamico - Vietnam
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Anglo American - United Kingdom
- Attock Cement Pakistan Limited
- Edison Trading Spa - Italy
- Altura Mining Limited, Indonesia
- Metalloyd Limited - United Kingdom
- Jaiprakash Power Ventures ltd
- Billiton Holdings Pty Ltd - Australia
- Sinarmas Energy and Mining - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Cement Manufacturers Association - India
- Uttam Galva Steels Limited - India
- Semirara Mining and Power Corporation, Philippines
- Indogreen Group - Indonesia
- SN Aboitiz Power Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- ASAPP Information Group - India
- Planning Commission, India
- Sakthi Sugars Limited - India
- Oldendorff Carriers - Singapore
- Posco Energy - South Korea
- Madhucon Powers Ltd - India
- Thiess Contractors Indonesia
- Electricity Authority, New Zealand
- TNB Fuel Sdn Bhd - Malaysia
- Tata Chemicals Ltd - India
- New Zealand Coal & Carbon
- Antam Resourcindo - Indonesia
- Pendopo Energi Batubara - Indonesia
- Gujarat Sidhee Cement - India
- Orica Australia Pty. Ltd.
- Bahari Cakrawala Sebuku - Indonesia
- Makarim & Taira - Indonesia
- Siam City Cement - Thailand
- Bhatia International Limited - India
- Global Coal Blending Company Limited - Australia
- Lanco Infratech Ltd - India
- Ministry of Transport, Egypt
- Indika Energy - Indonesia
- Indonesian Coal Mining Association
- PowerSource Philippines DevCo
- Bharathi Cement Corporation - India
- Gujarat Mineral Development Corp Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Wood Mackenzie - Singapore
- Cigading International Bulk Terminal - Indonesia
- Coal and Oil Company - UAE
- Kartika Selabumi Mining - Indonesia
- Ambuja Cements Ltd - India
- Central Java Power - Indonesia
- Savvy Resources Ltd - HongKong
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Chamber of Mines of South Africa
- Eastern Coal Council - USA
- IEA Clean Coal Centre - UK
- Kumho Petrochemical, South Korea
- Orica Mining Services - Indonesia
- IHS Mccloskey Coal Group - USA
- Kapuas Tunggal Persada - Indonesia
- The Treasury - Australian Government
- Energy Development Corp, Philippines
- Vedanta Resources Plc - India
- Jorong Barutama Greston.PT - Indonesia
- GVK Power & Infra Limited - India
- Power Finance Corporation Ltd., India
- Singapore Mercantile Exchange
- Barasentosa Lestari - Indonesia
- Indian Energy Exchange, India
- Borneo Indobara - Indonesia
- European Bulk Services B.V. - Netherlands
- Medco Energi Mining Internasional
- Thai Mozambique Logistica
- Trasteel International SA, Italy
- Toyota Tsusho Corporation, Japan
- Star Paper Mills Limited - India
- Dalmia Cement Bharat India
- ICICI Bank Limited - India
- Australian Commodity Traders Exchange
- Krishnapatnam Port Company Ltd. - India
- Neyveli Lignite Corporation Ltd, - India
- Essar Steel Hazira Ltd - India
- Interocean Group of Companies - India
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