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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, 06 July 10
KEPCO, POSCO BUY AUSTRALIAN COAL MINES - CHOSUN
Chosun reported that, Electricity monopoly KEPCO and steelmaker POSCO have both bought coal mines in Australia.
KEPCO signed a 400 million Austra ...
Tuesday, 06 July 10
SHENHUA GROUPS 2013 PROFIT MAY EXCEED $15 BILLION - BUSINESS WEEK
Business Week reported that, Shenhua Group Corp., China’s biggest coal producer, expects profit to exceed 100 billion yuan ($15 billion) by 20 ...
Saturday, 03 July 10
THE FREIGHT MARKET CONTINUES TO BE UNCERTAIN - CAPT. REDDY
COALspot.com: The market continues to soften and the most affect sector was Panamax which was down by almost 20 pct and closed at 2447 points. The C ...
Friday, 02 July 10
SARDA ENERGY TO ACQUIRE COAL MINES IN INDONESIA
India Info Line reported that, Sarda Energy & Minerals Ltd has announced that the authorities in Indonesia have granted the Environment Cle ...
Friday, 02 July 10
DRY BULK MARKET ON A FREEFALL, REACHING ITS LOWEST IN 9 MONTHS
The Baltic Dry Index is off to break more negative records this week, as the dry bulk shipping industry’s main benchmark has failed to find ro ...
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- Electricity Generating Authority of Thailand
- Billiton Holdings Pty Ltd - Australia
- Kaltim Prima Coal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- London Commodity Brokers - England
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Jaiprakash Power Ventures ltd
- Carbofer General Trading SA - India
- Gujarat Mineral Development Corp Ltd - India
- Kumho Petrochemical, South Korea
- Kideco Jaya Agung - Indonesia
- Central Electricity Authority - India
- SMG Consultants - Indonesia
- Ministry of Finance - Indonesia
- Vedanta Resources Plc - India
- PetroVietnam Power Coal Import and Supply Company
- Ambuja Cements Ltd - India
- Power Finance Corporation Ltd., India
- Energy Link Ltd, New Zealand
- Aboitiz Power Corporation - Philippines
- Australian Coal Association
- Xindia Steels Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Gujarat Electricity Regulatory Commission - India
- Vizag Seaport Private Limited - India
- Banpu Public Company Limited - Thailand
- New Zealand Coal & Carbon
- Anglo American - United Kingdom
- Directorate Of Revenue Intelligence - India
- Indian Energy Exchange, India
- Intertek Mineral Services - Indonesia
- ICICI Bank Limited - India
- Agrawal Coal Company - India
- Cigading International Bulk Terminal - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- MS Steel International - UAE
- SMC Global Power, Philippines
- Indonesian Coal Mining Association
- Dalmia Cement Bharat India
- TeaM Sual Corporation - Philippines
- Malabar Cements Ltd - India
- Cement Manufacturers Association - India
- Alfred C Toepfer International GmbH - Germany
- Sojitz Corporation - Japan
- Energy Development Corp, Philippines
- Karaikal Port Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Planning Commission, India
- Ind-Barath Power Infra Limited - India
- Singapore Mercantile Exchange
- Straits Asia Resources Limited - Singapore
- Ministry of Transport, Egypt
- Edison Trading Spa - Italy
- Rashtriya Ispat Nigam Limited - India
- McConnell Dowell - Australia
- Riau Bara Harum - Indonesia
- Independent Power Producers Association of India
- Antam Resourcindo - Indonesia
- Australian Commodity Traders Exchange
- Madhucon Powers Ltd - India
- Economic Council, Georgia
- Orica Australia Pty. Ltd.
- Meenaskhi Energy Private Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PTC India Limited - India
- GVK Power & Infra Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Chettinad Cement Corporation Ltd - India
- Kepco SPC Power Corporation, Philippines
- Minerals Council of Australia
- Star Paper Mills Limited - India
- Deloitte Consulting - India
- Eastern Energy - Thailand
- GAC Shipping (India) Pvt Ltd
- Binh Thuan Hamico - Vietnam
- Neyveli Lignite Corporation Ltd, - India
- Timah Investasi Mineral - Indoneisa
- Salva Resources Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- San Jose City I Power Corp, Philippines
- Simpson Spence & Young - Indonesia
- Ministry of Mines - Canada
- Iligan Light & Power Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Tata Chemicals Ltd - India
- Bukit Baiduri Energy - Indonesia
- Port Waratah Coal Services - Australia
- Orica Mining Services - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Semirara Mining Corp, Philippines
- Lanco Infratech Ltd - India
- IHS Mccloskey Coal Group - USA
- Sree Jayajothi Cements Limited - India
- PNOC Exploration Corporation - Philippines
- Baramulti Group, Indonesia
- Karbindo Abesyapradhi - Indoneisa
- European Bulk Services B.V. - Netherlands
- AsiaOL BioFuels Corp., Philippines
- Electricity Authority, New Zealand
- Pendopo Energi Batubara - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Larsen & Toubro Limited - India
- Metalloyd Limited - United Kingdom
- White Energy Company Limited
- South Luzon Thermal Energy Corporation
- Indian Oil Corporation Limited
- Bhushan Steel Limited - India
- Oldendorff Carriers - Singapore
- Goldman Sachs - Singapore
- Thiess Contractors Indonesia
- Coal and Oil Company - UAE
- Eastern Coal Council - USA
- Petron Corporation, Philippines
- Marubeni Corporation - India
- PowerSource Philippines DevCo
- Maheswari Brothers Coal Limited - India
- Meralco Power Generation, Philippines
- The Treasury - Australian Government
- Chamber of Mines of South Africa
- Miang Besar Coal Terminal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Aditya Birla Group - India
- Asmin Koalindo Tuhup - Indonesia
- Makarim & Taira - Indonesia
- Gujarat Sidhee Cement - India
- Commonwealth Bank - Australia
- International Coal Ventures Pvt Ltd - India
- Africa Commodities Group - South Africa
- Bhatia International Limited - India
- Jindal Steel & Power Ltd - India
- Heidelberg Cement - Germany
- Latin American Coal - Colombia
- Bukit Makmur.PT - Indonesia
- Tamil Nadu electricity Board
- Uttam Galva Steels Limited - India
- Globalindo Alam Lestari - Indonesia
- Sical Logistics Limited - India
- Leighton Contractors Pty Ltd - Australia
- Videocon Industries ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Interocean Group of Companies - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kartika Selabumi Mining - Indonesia
- Sakthi Sugars Limited - India
- Medco Energi Mining Internasional
- Barasentosa Lestari - Indonesia
- Global Coal Blending Company Limited - Australia
- Bulk Trading Sa - Switzerland
- Bharathi Cement Corporation - India
- Wilmar Investment Holdings
- ASAPP Information Group - India
- GMR Energy Limited - India
- Rio Tinto Coal - Australia
- Therma Luzon, Inc, Philippines
- Borneo Indobara - Indonesia
- Price Waterhouse Coopers - Russia
- Georgia Ports Authority, United States
- Holcim Trading Pte Ltd - Singapore
- Romanian Commodities Exchange
- Jorong Barutama Greston.PT - Indonesia
- Indika Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- OPG Power Generation Pvt Ltd - India
- Mercuria Energy - Indonesia
- Indogreen Group - Indonesia
- Formosa Plastics Group - Taiwan
- Bangladesh Power Developement Board
- Sarangani Energy Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Attock Cement Pakistan Limited
- Savvy Resources Ltd - HongKong
- India Bulls Power Limited - India
- Standard Chartered Bank - UAE
- VISA Power Limited - India
- Posco Energy - South Korea
- Siam City Cement PLC, Thailand
- Coastal Gujarat Power Limited - India
- Bhoruka Overseas - Indonesia
- Bayan Resources Tbk. - Indonesia
- CNBM International Corporation - China
- The University of Queensland
- Kapuas Tunggal Persada - Indonesia
- Renaissance Capital - South Africa
- Toyota Tsusho Corporation, Japan
- Wood Mackenzie - Singapore
- Thai Mozambique Logistica
- Siam City Cement - Thailand
- CIMB Investment Bank - Malaysia
- Altura Mining Limited, Indonesia
- IEA Clean Coal Centre - UK
- Mjunction Services Limited - India
- Grasim Industreis Ltd - India
- Samtan Co., Ltd - South Korea
- Trasteel International SA, Italy
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Parliament of New Zealand
- Indo Tambangraya Megah - Indonesia
- Mercator Lines Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Global Business Power Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Coalindo Energy - Indonesia
- Merrill Lynch Commodities Europe
- Kohat Cement Company Ltd. - Pakistan
- Mintek Dendrill Indonesia
- Central Java Power - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- LBH Netherlands Bv - Netherlands
- Parry Sugars Refinery, India
- Global Green Power PLC Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Krishnapatnam Port Company Ltd. - India
- The State Trading Corporation of India Ltd
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