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