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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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Wednesday, 30 June 10
PTBA TO SUPPLY ADDITIONAL 180 MLN TONS OF COAL TO PLN FOR 20 YEARS
COALspot.com: Indonesia's state-owned coal mining company PT Tambang Batubara Bukit Asam Tbk (PTBA) has entered into a new contract with state owne ...
Wednesday, 30 June 10
U.S. STEAM COAL EXPORTS TO SUPPORT FREIGHT RATES
Booming North American coal exports to China, driven by the country's insatiable need for steel raw materials, will provide support to freight rate ...
Tuesday, 29 June 10
BUMA TO MOVE AROUND 333 MLN BCM OF OVERBURDEN IN 2010
COALspot.com: PT Delta Dunia Makmur Tbk, holding company of Indonesia's second largest coal mining contractor PT Bukit Makmur Mandiri Utama (BUMA), ...
Tuesday, 29 June 10
DRY BULK'S DOWNFALL FINALLY SHOWING SIGNS OF STABILIZATION
Although the dry bulk market has begun the week where it left off, that is on a downward note, brokers and charterers appear to be on the consensus ...
Monday, 28 June 10
REVISIONS SHOULD AIM MINERAL AND COAL LAW
VIVAnews reported that, the Consortium of Mineral, Coal and Geothermal-Producing Regional Governments (Minerbapabum) is asking the government to per ...
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- Independent Power Producers Association of India
- Orica Mining Services - Indonesia
- Petron Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Goldman Sachs - Singapore
- TeaM Sual Corporation - Philippines
- SMG Consultants - Indonesia
- Global Business Power Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Neyveli Lignite Corporation Ltd, - India
- Maharashtra Electricity Regulatory Commission - India
- Ind-Barath Power Infra Limited - India
- VISA Power Limited - India
- Wilmar Investment Holdings
- Lanco Infratech Ltd - India
- Star Paper Mills Limited - India
- McConnell Dowell - Australia
- Maheswari Brothers Coal Limited - India
- Mintek Dendrill Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Parry Sugars Refinery, India
- Ministry of Transport, Egypt
- The University of Queensland
- Cigading International Bulk Terminal - Indonesia
- Minerals Council of Australia
- The State Trading Corporation of India Ltd
- Romanian Commodities Exchange
- Formosa Plastics Group - Taiwan
- Anglo American - United Kingdom
- Kumho Petrochemical, South Korea
- Intertek Mineral Services - Indonesia
- Dalmia Cement Bharat India
- Binh Thuan Hamico - Vietnam
- Malabar Cements Ltd - India
- Videocon Industries ltd - India
- Energy Development Corp, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Standard Chartered Bank - UAE
- Tata Chemicals Ltd - India
- Marubeni Corporation - India
- Kapuas Tunggal Persada - Indonesia
- Africa Commodities Group - South Africa
- Mjunction Services Limited - India
- Kobexindo Tractors - Indoneisa
- Gujarat Sidhee Cement - India
- San Jose City I Power Corp, Philippines
- Iligan Light & Power Inc, Philippines
- Posco Energy - South Korea
- Vijayanagar Sugar Pvt Ltd - India
- India Bulls Power Limited - India
- Indika Energy - Indonesia
- Indogreen Group - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Billiton Holdings Pty Ltd - Australia
- Sinarmas Energy and Mining - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Semirara Mining and Power Corporation, Philippines
- Meralco Power Generation, Philippines
- Siam City Cement - Thailand
- Interocean Group of Companies - India
- LBH Netherlands Bv - Netherlands
- PTC India Limited - India
- Bukit Makmur.PT - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Ambuja Cements Ltd - India
- IEA Clean Coal Centre - UK
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Larsen & Toubro Limited - India
- Eastern Coal Council - USA
- Xindia Steels Limited - India
- Sree Jayajothi Cements Limited - India
- Jindal Steel & Power Ltd - India
- Bhatia International Limited - India
- CNBM International Corporation - China
- Essar Steel Hazira Ltd - India
- Globalindo Alam Lestari - Indonesia
- Rio Tinto Coal - Australia
- Uttam Galva Steels Limited - India
- Toyota Tsusho Corporation, Japan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Electricity Authority, New Zealand
- Australian Coal Association
- Directorate General of MIneral and Coal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Indian Oil Corporation Limited
- Commonwealth Bank - Australia
- Bangladesh Power Developement Board
- The Treasury - Australian Government
- CIMB Investment Bank - Malaysia
- Jorong Barutama Greston.PT - Indonesia
- SN Aboitiz Power Inc, Philippines
- GMR Energy Limited - India
- Edison Trading Spa - Italy
- Sakthi Sugars Limited - India
- Trasteel International SA, Italy
- Wood Mackenzie - Singapore
- Electricity Generating Authority of Thailand
- Aditya Birla Group - India
- Siam City Cement PLC, Thailand
- Manunggal Multi Energi - Indonesia
- Carbofer General Trading SA - India
- Bhushan Steel Limited - India
- Economic Council, Georgia
- Ministry of Finance - Indonesia
- Eastern Energy - Thailand
- Renaissance Capital - South Africa
- Indo Tambangraya Megah - Indonesia
- Sarangani Energy Corporation, Philippines
- Antam Resourcindo - Indonesia
- Metalloyd Limited - United Kingdom
- Gujarat Electricity Regulatory Commission - India
- Directorate Of Revenue Intelligence - India
- Coal and Oil Company - UAE
- Leighton Contractors Pty Ltd - Australia
- Timah Investasi Mineral - Indoneisa
- Georgia Ports Authority, United States
- European Bulk Services B.V. - Netherlands
- Baramulti Group, Indonesia
- Jaiprakash Power Ventures ltd
- Madhucon Powers Ltd - India
- New Zealand Coal & Carbon
- Banpu Public Company Limited - Thailand
- Alfred C Toepfer International GmbH - Germany
- Thiess Contractors Indonesia
- Kepco SPC Power Corporation, Philippines
- ICICI Bank Limited - India
- Coalindo Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Orica Australia Pty. Ltd.
- Deloitte Consulting - India
- Cement Manufacturers Association - India
- Holcim Trading Pte Ltd - Singapore
- Semirara Mining Corp, Philippines
- Energy Link Ltd, New Zealand
- Global Green Power PLC Corporation, Philippines
- Thai Mozambique Logistica
- Samtan Co., Ltd - South Korea
- Vedanta Resources Plc - India
- Heidelberg Cement - Germany
- SMC Global Power, Philippines
- Sojitz Corporation - Japan
- Ministry of Mines - Canada
- White Energy Company Limited
- PowerSource Philippines DevCo
- Karaikal Port Pvt Ltd - India
- Chamber of Mines of South Africa
- Oldendorff Carriers - Singapore
- Mercator Lines Limited - India
- Port Waratah Coal Services - Australia
- Indonesian Coal Mining Association
- Kartika Selabumi Mining - Indonesia
- Australian Commodity Traders Exchange
- Makarim & Taira - Indonesia
- Central Electricity Authority - India
- Bukit Baiduri Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- IHS Mccloskey Coal Group - USA
- Power Finance Corporation Ltd., India
- Barasentosa Lestari - Indonesia
- Pendopo Energi Batubara - Indonesia
- OPG Power Generation Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- GVK Power & Infra Limited - India
- Therma Luzon, Inc, Philippines
- Sical Logistics Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Parliament of New Zealand
- Riau Bara Harum - Indonesia
- Merrill Lynch Commodities Europe
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Offshore Bulk Terminal Pte Ltd, Singapore
- London Commodity Brokers - England
- International Coal Ventures Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Altura Mining Limited, Indonesia
- Indian Energy Exchange, India
- Sindya Power Generating Company Private Ltd
- ASAPP Information Group - India
- Kideco Jaya Agung - Indonesia
- Agrawal Coal Company - India
- Straits Asia Resources Limited - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Borneo Indobara - Indonesia
- Vizag Seaport Private Limited - India
- Kaltim Prima Coal - Indonesia
- Medco Energi Mining Internasional
- PetroVietnam Power Coal Import and Supply Company
- Gujarat Mineral Development Corp Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bayan Resources Tbk. - Indonesia
- Simpson Spence & Young - Indonesia
- Global Coal Blending Company Limited - Australia
- MS Steel International - UAE
- PNOC Exploration Corporation - Philippines
- Price Waterhouse Coopers - Russia
- Miang Besar Coal Terminal - Indonesia
- Meenaskhi Energy Private Limited - India
- Bhoruka Overseas - Indonesia
- Aboitiz Power Corporation - Philippines
- Central Java Power - Indonesia
- GAC Shipping (India) Pvt Ltd
- Bulk Trading Sa - Switzerland
- Bharathi Cement Corporation - India
- Attock Cement Pakistan Limited
- Ceylon Electricity Board - Sri Lanka
- Pipit Mutiara Jaya. PT, Indonesia
- Singapore Mercantile Exchange
- South Luzon Thermal Energy Corporation
- TNB Fuel Sdn Bhd - Malaysia
- Coastal Gujarat Power Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Mercuria Energy - Indonesia
- Planning Commission, India
- Grasim Industreis Ltd - India
- Tamil Nadu electricity Board
- Latin American Coal - Colombia
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