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Tuesday, 19 July 22
INDONESIA REMOVES PALM OIL EXPORT LEVY UNTIL AUG. 31 - REUTERS
Indonesia has scrapped its export levy for all palm oil products until Aug. 31 in a fresh attempt to boost exports and ease high inventories, finance ministry officials said on Saturday, adding the move would not disrupt government revenues.
The decision by the world’s biggest palm oil exporter could further depress prices FCPOc3, which have fallen by about 50% since late April to their lowest in over a year.
Indonesian palm oil producers have been struggling with high inventories since the country imposed a three-week export ban through to May 23 to reduce domestic cooking oil prices.
Since lifting the ban, Jakarta has implemented rules on mandatory local sales – known as the domestic market obligation (DMO) – to keep produce at home to be made into cooking oil.
At the same time, it has tried to clear up storage tanks by cutting export taxes and launching a shipment acceleration programme, but exports remained slow and companies have blamed the DMO rules, as well as problems with securing cargo vessels.
The levy removal is intended to further support exports, Febrio Kacaribu, the ministry’s head of fiscal policy agency, told reporters on the sideline of a G20 finance meeting in Bali.
“In the context of government revenues, (the impact) won’t be too big,” he said.
Finance Minister Sri Mulyani Indrawati said a progressive palm oil export levy would be applied starting Sept. 1, with the rate set between $55 and $240 per tonne for crude palm oil, depending on prices.
High palm oil stocks have forced mills to limit purchases of palm fruits. Farmers have complained their unsold fruits have been left to rot.
There were 7.23 million tonnes of crude palm oil in storage tanks at the end of May, data from the Indonesian Palm Oil Association (GAPKI) showed on Friday.
GAPKI welcomed the new measure, but it recommended the DMO rules be removed too, its secretary general Eddy Martono said.
“For now remove the DMO … until stocks drop to 3 million to 4 million tonnes. Our problem now is the inventory is too high,” he told Reuters.
Source: Reuters
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Wednesday, 31 January 24
CHINA'S INNER MONGOLIA COAL OUTPUT HIT 1.21B TONS IN 2023 - XINHUA
North China’s Inner Mongolia autonomous region churned out 1.21 billion tons of coal in 2023 as it strives to guarantee the country’s e ...
Wednesday, 31 January 24
GAS EXPORTS COST U.S. CONSUMERS MORE THAN $100 BILLION OVER 16-MONTH PERIOD - IEEFA
Limited Demand Growth Could Dampen the Dry Bulk Market in the Coming Months BIMCOStarting in late 2021—before its invasion of Ukraine—R ...
Tuesday, 30 January 24
LIMITED DEMAND GROWTH COULD DAMPEN THE DRY BULK MARKET IN THE COMING MONTHS - BIMCO
Demand
In our base scenario, we expect cargo demand to grow by 0-1% in 2024 and 0.5-1.5% in 2025. This is a 0.5 percentage point reduction for ...
Friday, 26 January 24
RED SEA DIVERSIONS ADD NEARLY A MILLION DOLLARS PER VOYAGE TO SHIPPING COSTS WHILE DOUBLING TRANSIT TIME - LSEG
The incremental costs of diverting a tanker from Asia to NW Europe via the Cape of Good Hope is accounting for an extra $932,905 USD per voyage whi ...
Friday, 26 January 24
HARD COAL GUARDIAN ANGEL OF THE ENERGY SUPPLY - GERMANY COAL IMPORTERS ASSOCIATION
- No security of supply without hard coal
- The Substitute Power Plant Provision Act (EKBG) must be extended
- Higher grid fees due to the ...
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- Leighton Contractors Pty Ltd - Australia
- IHS Mccloskey Coal Group - USA
- Aditya Birla Group - India
- Ministry of Transport, Egypt
- Barasentosa Lestari - Indonesia
- Orica Mining Services - Indonesia
- PTC India Limited - India
- Ind-Barath Power Infra Limited - India
- MS Steel International - UAE
- Thiess Contractors Indonesia
- Sojitz Corporation - Japan
- Australian Coal Association
- Global Green Power PLC Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Metalloyd Limited - United Kingdom
- Simpson Spence & Young - Indonesia
- Interocean Group of Companies - India
- ICICI Bank Limited - India
- Agrawal Coal Company - India
- Central Electricity Authority - India
- TeaM Sual Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- Malabar Cements Ltd - India
- Mercator Lines Limited - India
- Eastern Energy - Thailand
- Electricity Authority, New Zealand
- Larsen & Toubro Limited - India
- GAC Shipping (India) Pvt Ltd
- Ministry of Finance - Indonesia
- Bukit Baiduri Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Bayan Resources Tbk. - Indonesia
- White Energy Company Limited
- Indika Energy - Indonesia
- India Bulls Power Limited - India
- Sindya Power Generating Company Private Ltd
- Asmin Koalindo Tuhup - Indonesia
- The Treasury - Australian Government
- Straits Asia Resources Limited - Singapore
- Kepco SPC Power Corporation, Philippines
- Latin American Coal - Colombia
- Renaissance Capital - South Africa
- Iligan Light & Power Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- GVK Power & Infra Limited - India
- Medco Energi Mining Internasional
- Ambuja Cements Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Star Paper Mills Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Wilmar Investment Holdings
- Chamber of Mines of South Africa
- Indogreen Group - Indonesia
- Planning Commission, India
- Indian Energy Exchange, India
- Petrochimia International Co. Ltd.- Taiwan
- Mjunction Services Limited - India
- Economic Council, Georgia
- Baramulti Group, Indonesia
- Georgia Ports Authority, United States
- European Bulk Services B.V. - Netherlands
- Meralco Power Generation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Cement Manufacturers Association - India
- Xindia Steels Limited - India
- Posco Energy - South Korea
- Marubeni Corporation - India
- Eastern Coal Council - USA
- Power Finance Corporation Ltd., India
- Tata Chemicals Ltd - India
- Semirara Mining Corp, Philippines
- New Zealand Coal & Carbon
- Kobexindo Tractors - Indoneisa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mintek Dendrill Indonesia
- Kohat Cement Company Ltd. - Pakistan
- London Commodity Brokers - England
- Jindal Steel & Power Ltd - India
- The University of Queensland
- Bulk Trading Sa - Switzerland
- Karaikal Port Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Therma Luzon, Inc, Philippines
- Australian Commodity Traders Exchange
- Sree Jayajothi Cements Limited - India
- Attock Cement Pakistan Limited
- Sakthi Sugars Limited - India
- Siam City Cement - Thailand
- San Jose City I Power Corp, Philippines
- Makarim & Taira - Indonesia
- Coal and Oil Company - UAE
- Carbofer General Trading SA - India
- Samtan Co., Ltd - South Korea
- Africa Commodities Group - South Africa
- Petron Corporation, Philippines
- Borneo Indobara - Indonesia
- GMR Energy Limited - India
- Bhatia International Limited - India
- Bhoruka Overseas - Indonesia
- Kideco Jaya Agung - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Vedanta Resources Plc - India
- Commonwealth Bank - Australia
- IEA Clean Coal Centre - UK
- Neyveli Lignite Corporation Ltd, - India
- The State Trading Corporation of India Ltd
- Parliament of New Zealand
- Bukit Asam (Persero) Tbk - Indonesia
- Savvy Resources Ltd - HongKong
- Antam Resourcindo - Indonesia
- Heidelberg Cement - Germany
- Madhucon Powers Ltd - India
- Port Waratah Coal Services - Australia
- Uttam Galva Steels Limited - India
- Miang Besar Coal Terminal - Indonesia
- Kumho Petrochemical, South Korea
- SMC Global Power, Philippines
- Semirara Mining and Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Siam City Cement PLC, Thailand
- Indonesian Coal Mining Association
- Vizag Seaport Private Limited - India
- Orica Australia Pty. Ltd.
- Anglo American - United Kingdom
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Global Business Power Corporation, Philippines
- Thai Mozambique Logistica
- Global Coal Blending Company Limited - Australia
- Wood Mackenzie - Singapore
- VISA Power Limited - India
- Bharathi Cement Corporation - India
- Ministry of Mines - Canada
- Singapore Mercantile Exchange
- Kaltim Prima Coal - Indonesia
- PowerSource Philippines DevCo
- Energy Link Ltd, New Zealand
- Indo Tambangraya Megah - Indonesia
- Formosa Plastics Group - Taiwan
- Manunggal Multi Energi - Indonesia
- Minerals Council of Australia
- Globalindo Alam Lestari - Indonesia
- Sarangani Energy Corporation, Philippines
- Tamil Nadu electricity Board
- Banpu Public Company Limited - Thailand
- Indian Oil Corporation Limited
- CNBM International Corporation - China
- Holcim Trading Pte Ltd - Singapore
- Jaiprakash Power Ventures ltd
- Standard Chartered Bank - UAE
- Edison Trading Spa - Italy
- Gujarat Electricity Regulatory Commission - India
- Central Java Power - Indonesia
- Riau Bara Harum - Indonesia
- ASAPP Information Group - India
- Gujarat Mineral Development Corp Ltd - India
- Electricity Generating Authority of Thailand
- GN Power Mariveles Coal Plant, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- AsiaOL BioFuels Corp., Philippines
- CIMB Investment Bank - Malaysia
- Salva Resources Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Romanian Commodities Exchange
- Kartika Selabumi Mining - Indonesia
- Bukit Makmur.PT - Indonesia
- Independent Power Producers Association of India
- Directorate General of MIneral and Coal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Rio Tinto Coal - Australia
- Videocon Industries ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Directorate Of Revenue Intelligence - India
- Intertek Mineral Services - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Parry Sugars Refinery, India
- Ceylon Electricity Board - Sri Lanka
- TNB Fuel Sdn Bhd - Malaysia
- Deloitte Consulting - India
- McConnell Dowell - Australia
- Bangladesh Power Developement Board
- Sical Logistics Limited - India
- Toyota Tsusho Corporation, Japan
- Gujarat Sidhee Cement - India
- Trasteel International SA, Italy
- SMG Consultants - Indonesia
- Meenaskhi Energy Private Limited - India
- Aboitiz Power Corporation - Philippines
- Sinarmas Energy and Mining - Indonesia
- Billiton Holdings Pty Ltd - Australia
- LBH Netherlands Bv - Netherlands
- Grasim Industreis Ltd - India
- Price Waterhouse Coopers - Russia
- Cigading International Bulk Terminal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Mercuria Energy - Indonesia
- Coalindo Energy - Indonesia
- Goldman Sachs - Singapore
- Pendopo Energi Batubara - Indonesia
- Lanco Infratech Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Chettinad Cement Corporation Ltd - India
- South Luzon Thermal Energy Corporation
- Dalmia Cement Bharat India
- Alfred C Toepfer International GmbH - Germany
- Rashtriya Ispat Nigam Limited - India
- Energy Development Corp, Philippines
- Maheswari Brothers Coal Limited - India
- Bhushan Steel Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Binh Thuan Hamico - Vietnam
- Coastal Gujarat Power Limited - India
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