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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, 08 July 10
KPCL RECEIVES 8 QUALIFIED BIDS TO SUPPLY 500,000 MT OF COAL
COALspot.com: Indian state utility KARNATAKA POWER CORPORATION LIMITED has opened price bid yesterday.
According to a participant, the quo ...
Thursday, 08 July 10
DRY BULK MARKET STILL PLUNGING, NOW STANDING AT 14 MONTH LOWS
The dry bulk shipping market’s demise isn’t over yet, as the industry’s main benchmark, the Baltic Dry Index (BDI) has been on a f ...
Wednesday, 07 July 10
MACQUARIE SEES CHINA COMMODITIES PRICE FALLS AND CUTBACKS AHEAD - MINEWEB
MineWeb reported that, The research arm of Australia's Macquarie Bank - one of the most reliable of China watchers - in its latest briefing on Chin ...
Wednesday, 07 July 10
COAL PRICES ON THE RISE
Caixin online reported that, China's domestic coal prices have seen a 26.2 percent year-on-year rise in May. Meanwhile, the volume of coal im ...
Tuesday, 06 July 10
INCREASE IN DRY BULK SPOT FIXTURES UNABLE TO BOOST RATES, LOSING STREAK CONTINUES
Yet another week began on a negative note for the dry bulk shipping market, with the Baltic Dry Index posting its 28th straight losing daily session ...
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- Renaissance Capital - South Africa
- Romanian Commodities Exchange
- Aboitiz Power Corporation - Philippines
- Straits Asia Resources Limited - Singapore
- Ambuja Cements Ltd - India
- Toyota Tsusho Corporation, Japan
- Global Green Power PLC Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Star Paper Mills Limited - India
- Sree Jayajothi Cements Limited - India
- European Bulk Services B.V. - Netherlands
- Kumho Petrochemical, South Korea
- Jindal Steel & Power Ltd - India
- Australian Coal Association
- Madhucon Powers Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Indonesian Coal Mining Association
- Billiton Holdings Pty Ltd - Australia
- Kohat Cement Company Ltd. - Pakistan
- Agrawal Coal Company - India
- Larsen & Toubro Limited - India
- Formosa Plastics Group - Taiwan
- White Energy Company Limited
- Miang Besar Coal Terminal - Indonesia
- Economic Council, Georgia
- Savvy Resources Ltd - HongKong
- GMR Energy Limited - India
- Indian Energy Exchange, India
- Petron Corporation, Philippines
- Singapore Mercantile Exchange
- OPG Power Generation Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Africa Commodities Group - South Africa
- ICICI Bank Limited - India
- SMC Global Power, Philippines
- Mjunction Services Limited - India
- Attock Cement Pakistan Limited
- Goldman Sachs - Singapore
- Vizag Seaport Private Limited - India
- Power Finance Corporation Ltd., India
- PNOC Exploration Corporation - Philippines
- Vedanta Resources Plc - India
- Orica Mining Services - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Merrill Lynch Commodities Europe
- MS Steel International - UAE
- Planning Commission, India
- Kaltim Prima Coal - Indonesia
- Bukit Makmur.PT - Indonesia
- The State Trading Corporation of India Ltd
- Global Business Power Corporation, Philippines
- Aditya Birla Group - India
- Vijayanagar Sugar Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- VISA Power Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Energy Development Corp, Philippines
- Gujarat Electricity Regulatory Commission - India
- The University of Queensland
- Kalimantan Lumbung Energi - Indonesia
- Riau Bara Harum - Indonesia
- PTC India Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Sojitz Corporation - Japan
- Mercuria Energy - Indonesia
- Posco Energy - South Korea
- London Commodity Brokers - England
- Kapuas Tunggal Persada - Indonesia
- Bhushan Steel Limited - India
- Malabar Cements Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Videocon Industries ltd - India
- IHS Mccloskey Coal Group - USA
- Electricity Authority, New Zealand
- Standard Chartered Bank - UAE
- Marubeni Corporation - India
- Eastern Energy - Thailand
- Globalindo Alam Lestari - Indonesia
- Bayan Resources Tbk. - Indonesia
- Oldendorff Carriers - Singapore
- Grasim Industreis Ltd - India
- Meenaskhi Energy Private Limited - India
- Simpson Spence & Young - Indonesia
- Directorate Of Revenue Intelligence - India
- Asmin Koalindo Tuhup - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Gujarat Mineral Development Corp Ltd - India
- Deloitte Consulting - India
- Global Coal Blending Company Limited - Australia
- Bangladesh Power Developement Board
- Sical Logistics Limited - India
- Rio Tinto Coal - Australia
- Minerals Council of Australia
- South Luzon Thermal Energy Corporation
- Siam City Cement PLC, Thailand
- Ministry of Mines - Canada
- Thai Mozambique Logistica
- Essar Steel Hazira Ltd - India
- Bhoruka Overseas - Indonesia
- Chettinad Cement Corporation Ltd - India
- Jaiprakash Power Ventures ltd
- Binh Thuan Hamico - Vietnam
- Antam Resourcindo - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- LBH Netherlands Bv - Netherlands
- Port Waratah Coal Services - Australia
- The Treasury - Australian Government
- Rashtriya Ispat Nigam Limited - India
- Thiess Contractors Indonesia
- PowerSource Philippines DevCo
- Banpu Public Company Limited - Thailand
- Xindia Steels Limited - India
- CNBM International Corporation - China
- Ind-Barath Power Infra Limited - India
- Makarim & Taira - Indonesia
- Georgia Ports Authority, United States
- Interocean Group of Companies - India
- Wilmar Investment Holdings
- Tata Chemicals Ltd - India
- Indika Energy - Indonesia
- IEA Clean Coal Centre - UK
- Latin American Coal - Colombia
- New Zealand Coal & Carbon
- Barasentosa Lestari - Indonesia
- McConnell Dowell - Australia
- Orica Australia Pty. Ltd.
- Siam City Cement - Thailand
- Kobexindo Tractors - Indoneisa
- Bharathi Cement Corporation - India
- Anglo American - United Kingdom
- Bank of Tokyo Mitsubishi UFJ Ltd
- Cigading International Bulk Terminal - Indonesia
- India Bulls Power Limited - India
- Australian Commodity Traders Exchange
- Mintek Dendrill Indonesia
- Alfred C Toepfer International GmbH - Germany
- GVK Power & Infra Limited - India
- Sakthi Sugars Limited - India
- Bhatia International Limited - India
- Carbofer General Trading SA - India
- Pendopo Energi Batubara - Indonesia
- Lanco Infratech Ltd - India
- Heidelberg Cement - Germany
- Bulk Trading Sa - Switzerland
- Bahari Cakrawala Sebuku - Indonesia
- Central Java Power - Indonesia
- SMG Consultants - Indonesia
- Salva Resources Pvt Ltd - India
- ASAPP Information Group - India
- Indogreen Group - Indonesia
- Eastern Coal Council - USA
- Neyveli Lignite Corporation Ltd, - India
- Manunggal Multi Energi - Indonesia
- Krishnapatnam Port Company Ltd. - India
- GAC Shipping (India) Pvt Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Parliament of New Zealand
- Sarangani Energy Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Petrochimia International Co. Ltd.- Taiwan
- Tamil Nadu electricity Board
- Energy Link Ltd, New Zealand
- Holcim Trading Pte Ltd - Singapore
- CIMB Investment Bank - Malaysia
- Trasteel International SA, Italy
- Edison Trading Spa - Italy
- Mercator Lines Limited - India
- Therma Luzon, Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Coalindo Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Semirara Mining and Power Corporation, Philippines
- Borneo Indobara - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Coal and Oil Company - UAE
- Dalmia Cement Bharat India
- Kideco Jaya Agung - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Independent Power Producers Association of India
- Wood Mackenzie - Singapore
- Ministry of Transport, Egypt
- Ceylon Electricity Board - Sri Lanka
- Cement Manufacturers Association - India
- Sindya Power Generating Company Private Ltd
- Indo Tambangraya Megah - Indonesia
- Medco Energi Mining Internasional
- Parry Sugars Refinery, India
- Uttam Galva Steels Limited - India
- AsiaOL BioFuels Corp., Philippines
- TeaM Sual Corporation - Philippines
- Timah Investasi Mineral - Indoneisa
- Jorong Barutama Greston.PT - Indonesia
- Intertek Mineral Services - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indian Oil Corporation Limited
- SN Aboitiz Power Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Baramulti Group, Indonesia
- Chamber of Mines of South Africa
- Commonwealth Bank - Australia
- Karaikal Port Pvt Ltd - India
- Central Electricity Authority - India
- Iligan Light & Power Inc, Philippines
- Gujarat Sidhee Cement - India
- San Jose City I Power Corp, Philippines
- Price Waterhouse Coopers - Russia
- Kepco SPC Power Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Pipit Mutiara Jaya. PT, Indonesia
- Electricity Generating Authority of Thailand
- Semirara Mining Corp, Philippines
- Meralco Power Generation, Philippines
- Samtan Co., Ltd - South Korea
- Kartika Selabumi Mining - Indonesia
- Altura Mining Limited, Indonesia
- Ministry of Finance - Indonesia
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