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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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Monday, 28 June 10
MEC TO INK COAL-EQUITY SWAP DEALS WITH POWER PROJECTS
Business Line reported that, First it was power producers moving to pick up stakes in coal mining projects to ensure the raw material supplies.
N ...
Monday, 28 June 10
COLOMBIA WILL LIKELY EXPORT 80 MILLION TONNES OF COAL IN 2010
Best Colombia reported that, Mr Hernan Martinez energy and mines minister of Colombia told reporters that Colombia will likely export 80 million ton ...
Monday, 28 June 10
WESFARMERS' SEPT QTR COAL PRICE UP 11% - SMH
SMH reported that, Wesfarmers Ltd says it expects a 11 per cent increase in prices for metallurgical coal from its Curragh mine in Queensland in the ...
Saturday, 26 June 10
THE SUPRAMAX INDEX FOR S6 ROUTE WAS UP BY US$ 1091 PER DAY OR 5.7 PERCENT D-O-D -- VISTAAR
COALspot.com: The market appears to be steadying with all indices almost stabilizing and the drop much less than last two weeks.
The BDI softened ...
Saturday, 26 June 10
MONGOLIA COAL RAILWAY TO LINK WITH RUSSIA - BUSINESS WEEK
Business Week reported that, Mongolian lawmakers have approved plans for a rail line linking with Russia to help tap large coal deposits in the sout ...
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- Jaiprakash Power Ventures ltd
- Toyota Tsusho Corporation, Japan
- Medco Energi Mining Internasional
- IEA Clean Coal Centre - UK
- Mercator Lines Limited - India
- Iligan Light & Power Inc, Philippines
- London Commodity Brokers - England
- Riau Bara Harum - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Kobexindo Tractors - Indoneisa
- Maharashtra Electricity Regulatory Commission - India
- Parry Sugars Refinery, India
- Standard Chartered Bank - UAE
- Krishnapatnam Port Company Ltd. - India
- Kaltim Prima Coal - Indonesia
- Xindia Steels Limited - India
- PTC India Limited - India
- Global Business Power Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- New Zealand Coal & Carbon
- South Luzon Thermal Energy Corporation
- Mjunction Services Limited - India
- CNBM International Corporation - China
- Kepco SPC Power Corporation, Philippines
- Altura Mining Limited, Indonesia
- Anglo American - United Kingdom
- Wood Mackenzie - Singapore
- Mercuria Energy - Indonesia
- Semirara Mining Corp, Philippines
- Karaikal Port Pvt Ltd - India
- Indika Energy - Indonesia
- Gujarat Sidhee Cement - India
- LBH Netherlands Bv - Netherlands
- Bhushan Steel Limited - India
- Miang Besar Coal Terminal - Indonesia
- Salva Resources Pvt Ltd - India
- Singapore Mercantile Exchange
- AsiaOL BioFuels Corp., Philippines
- Kohat Cement Company Ltd. - Pakistan
- Economic Council, Georgia
- Timah Investasi Mineral - Indoneisa
- Petron Corporation, Philippines
- Minerals Council of Australia
- Baramulti Group, Indonesia
- Bukit Baiduri Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Dalmia Cement Bharat India
- Sical Logistics Limited - India
- GVK Power & Infra Limited - India
- Indian Oil Corporation Limited
- Offshore Bulk Terminal Pte Ltd, Singapore
- Vizag Seaport Private Limited - India
- Coal and Oil Company - UAE
- Africa Commodities Group - South Africa
- Eastern Coal Council - USA
- Romanian Commodities Exchange
- Uttam Galva Steels Limited - India
- The Treasury - Australian Government
- CIMB Investment Bank - Malaysia
- Orica Mining Services - Indonesia
- Kapuas Tunggal Persada - Indonesia
- The University of Queensland
- Siam City Cement PLC, Thailand
- Ministry of Mines - Canada
- MS Steel International - UAE
- Commonwealth Bank - Australia
- Therma Luzon, Inc, Philippines
- Makarim & Taira - Indonesia
- Chamber of Mines of South Africa
- Central Java Power - Indonesia
- Carbofer General Trading SA - India
- Attock Cement Pakistan Limited
- Coalindo Energy - Indonesia
- Parliament of New Zealand
- Deloitte Consulting - India
- Holcim Trading Pte Ltd - Singapore
- White Energy Company Limited
- Indonesian Coal Mining Association
- Formosa Plastics Group - Taiwan
- Thiess Contractors Indonesia
- Barasentosa Lestari - Indonesia
- Australian Commodity Traders Exchange
- Videocon Industries ltd - India
- Larsen & Toubro Limited - India
- Cement Manufacturers Association - India
- PowerSource Philippines DevCo
- Sree Jayajothi Cements Limited - India
- International Coal Ventures Pvt Ltd - India
- Energy Development Corp, Philippines
- Kalimantan Lumbung Energi - Indonesia
- McConnell Dowell - Australia
- Bulk Trading Sa - Switzerland
- Planning Commission, India
- Siam City Cement - Thailand
- Bhoruka Overseas - Indonesia
- Ambuja Cements Ltd - India
- Star Paper Mills Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- European Bulk Services B.V. - Netherlands
- Vedanta Resources Plc - India
- Agrawal Coal Company - India
- Chettinad Cement Corporation Ltd - India
- Sindya Power Generating Company Private Ltd
- San Jose City I Power Corp, Philippines
- Aboitiz Power Corporation - Philippines
- Jorong Barutama Greston.PT - Indonesia
- VISA Power Limited - India
- Globalindo Alam Lestari - Indonesia
- Edison Trading Spa - Italy
- Savvy Resources Ltd - HongKong
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Renaissance Capital - South Africa
- Cigading International Bulk Terminal - Indonesia
- Merrill Lynch Commodities Europe
- ASAPP Information Group - India
- Lanco Infratech Ltd - India
- Borneo Indobara - Indonesia
- Indogreen Group - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Maheswari Brothers Coal Limited - India
- GAC Shipping (India) Pvt Ltd
- Energy Link Ltd, New Zealand
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Finance - Indonesia
- Port Waratah Coal Services - Australia
- GN Power Mariveles Coal Plant, Philippines
- IHS Mccloskey Coal Group - USA
- Indian Energy Exchange, India
- OPG Power Generation Pvt Ltd - India
- Latin American Coal - Colombia
- Interocean Group of Companies - India
- Marubeni Corporation - India
- Tamil Nadu electricity Board
- TeaM Sual Corporation - Philippines
- Ministry of Transport, Egypt
- Wilmar Investment Holdings
- Heidelberg Cement - Germany
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GMR Energy Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Oldendorff Carriers - Singapore
- PNOC Exploration Corporation - Philippines
- Ceylon Electricity Board - Sri Lanka
- Indo Tambangraya Megah - Indonesia
- Meralco Power Generation, Philippines
- Coastal Gujarat Power Limited - India
- Leighton Contractors Pty Ltd - Australia
- Kartika Selabumi Mining - Indonesia
- Power Finance Corporation Ltd., India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ind-Barath Power Infra Limited - India
- Independent Power Producers Association of India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Electricity Generating Authority of Thailand
- Metalloyd Limited - United Kingdom
- Pendopo Energi Batubara - Indonesia
- Goldman Sachs - Singapore
- Rio Tinto Coal - Australia
- Bharathi Cement Corporation - India
- Kumho Petrochemical, South Korea
- Madhucon Powers Ltd - India
- Price Waterhouse Coopers - Russia
- Global Green Power PLC Corporation, Philippines
- Mintek Dendrill Indonesia
- Kideco Jaya Agung - Indonesia
- Central Electricity Authority - India
- Meenaskhi Energy Private Limited - India
- Essar Steel Hazira Ltd - India
- Binh Thuan Hamico - Vietnam
- Bahari Cakrawala Sebuku - Indonesia
- Australian Coal Association
- Straits Asia Resources Limited - Singapore
- Gujarat Electricity Regulatory Commission - India
- SN Aboitiz Power Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Thai Mozambique Logistica
- Grasim Industreis Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Malabar Cements Ltd - India
- Eastern Energy - Thailand
- The State Trading Corporation of India Ltd
- Bangladesh Power Developement Board
- India Bulls Power Limited - India
- Bayan Resources Tbk. - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- TNB Fuel Sdn Bhd - Malaysia
- Directorate Of Revenue Intelligence - India
- Manunggal Multi Energi - Indonesia
- Trasteel International SA, Italy
- Georgia Ports Authority, United States
- ICICI Bank Limited - India
- Posco Energy - South Korea
- Aditya Birla Group - India
- PetroVietnam Power Coal Import and Supply Company
- Tata Chemicals Ltd - India
- Simpson Spence & Young - Indonesia
- Orica Australia Pty. Ltd.
- Gujarat Mineral Development Corp Ltd - India
- Bhatia International Limited - India
- Jindal Steel & Power Ltd - India
- Samtan Co., Ltd - South Korea
- Semirara Mining and Power Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- SMC Global Power, Philippines
- Alfred C Toepfer International GmbH - Germany
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sakthi Sugars Limited - India
- Banpu Public Company Limited - Thailand
- SMG Consultants - Indonesia
- Global Coal Blending Company Limited - Australia
- Intertek Mineral Services - Indonesia
- Antam Resourcindo - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Bukit Makmur.PT - Indonesia
- Sojitz Corporation - Japan
- Electricity Authority, New Zealand
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