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