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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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Thursday, 12 August 21
ONLY 3 VLCCS SOLD FOR DEMOLITION IN 2021 AS SECONDHAND PRICES TEMPT - BIMCO
During the first seven months of 2021, only three actively trading Very Large Crude Carriers (VLCCs) have been sold for demolition. The current mar ...
Wednesday, 11 August 21
U.S: EIA EXPECTS COAL EXPORTS TO TOTAL 90 MMST IN 2021, 30% INCREASE FROM 2020
Coal production in EIA's forecast totals 607 million short tons (MMst) in 2021, an increase of 13% over 2020.
EIA is also ...
Wednesday, 11 August 21
MARKET INSIGHT - INTERMODAL
Energy is at the core of the global climate dialogue as the climate challenge is essentially an energy challenge. Policy experts around the world a ...
Tuesday, 10 August 21
34 INDONESIAN COAL COMPANIES TEMPORARILY BANNED FOR COAL EXPORTS
The Ministry of Energy and Mineral Resources (ESDM) has imposed sanctions in the form of a coal export ban for 34 coal companies as reported by CNB ...
Monday, 09 August 21
AIIB MAY OFFICIALLY END COAL FINANCING IN 2022 - CHINA DAILY
The Asian Infrastructure Investment Bank may officially rule out coal projects if it updates its energy strategy next year, after shunning funding ...
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- Standard Chartered Bank - UAE
- Malabar Cements Ltd - India
- Ind-Barath Power Infra Limited - India
- Carbofer General Trading SA - India
- Sojitz Corporation - Japan
- Chamber of Mines of South Africa
- Karbindo Abesyapradhi - Indoneisa
- Planning Commission, India
- Mercator Lines Limited - India
- ICICI Bank Limited - India
- Attock Cement Pakistan Limited
- Mercuria Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Ministry of Finance - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Bangladesh Power Developement Board
- Orica Mining Services - Indonesia
- Eastern Coal Council - USA
- Gujarat Electricity Regulatory Commission - India
- Marubeni Corporation - India
- Bharathi Cement Corporation - India
- Kepco SPC Power Corporation, Philippines
- Coal and Oil Company - UAE
- Leighton Contractors Pty Ltd - Australia
- Formosa Plastics Group - Taiwan
- Merrill Lynch Commodities Europe
- International Coal Ventures Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Ministry of Mines - Canada
- PTC India Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Trasteel International SA, Italy
- PetroVietnam Power Coal Import and Supply Company
- Energy Development Corp, Philippines
- Coastal Gujarat Power Limited - India
- SMC Global Power, Philippines
- Metalloyd Limited - United Kingdom
- Tata Chemicals Ltd - India
- Altura Mining Limited, Indonesia
- The State Trading Corporation of India Ltd
- Kaltim Prima Coal - Indonesia
- Savvy Resources Ltd - HongKong
- Goldman Sachs - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Larsen & Toubro Limited - India
- MS Steel International - UAE
- Wilmar Investment Holdings
- Global Green Power PLC Corporation, Philippines
- VISA Power Limited - India
- ASAPP Information Group - India
- Indonesian Coal Mining Association
- Coalindo Energy - Indonesia
- Agrawal Coal Company - India
- Meenaskhi Energy Private Limited - India
- Karaikal Port Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Africa Commodities Group - South Africa
- Alfred C Toepfer International GmbH - Germany
- Heidelberg Cement - Germany
- Gujarat Mineral Development Corp Ltd - India
- Bhoruka Overseas - Indonesia
- Chettinad Cement Corporation Ltd - India
- Manunggal Multi Energi - Indonesia
- Makarim & Taira - Indonesia
- Ministry of Transport, Egypt
- Kohat Cement Company Ltd. - Pakistan
- Globalindo Alam Lestari - Indonesia
- Posco Energy - South Korea
- Sinarmas Energy and Mining - Indonesia
- Energy Link Ltd, New Zealand
- Ceylon Electricity Board - Sri Lanka
- Singapore Mercantile Exchange
- The University of Queensland
- Bayan Resources Tbk. - Indonesia
- Kartika Selabumi Mining - Indonesia
- Uttam Galva Steels Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- SMG Consultants - Indonesia
- PowerSource Philippines DevCo
- Bank of Tokyo Mitsubishi UFJ Ltd
- Medco Energi Mining Internasional
- Electricity Authority, New Zealand
- Interocean Group of Companies - India
- Siam City Cement PLC, Thailand
- Rashtriya Ispat Nigam Limited - India
- Banpu Public Company Limited - Thailand
- Baramulti Group, Indonesia
- Straits Asia Resources Limited - Singapore
- Global Coal Blending Company Limited - Australia
- Maharashtra Electricity Regulatory Commission - India
- Wood Mackenzie - Singapore
- GAC Shipping (India) Pvt Ltd
- Power Finance Corporation Ltd., India
- India Bulls Power Limited - India
- Antam Resourcindo - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Petron Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Sical Logistics Limited - India
- SN Aboitiz Power Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Bukit Baiduri Energy - Indonesia
- GMR Energy Limited - India
- Australian Commodity Traders Exchange
- Indian Oil Corporation Limited
- Sindya Power Generating Company Private Ltd
- Holcim Trading Pte Ltd - Singapore
- Australian Coal Association
- Intertek Mineral Services - Indonesia
- Bhatia International Limited - India
- TeaM Sual Corporation - Philippines
- Port Waratah Coal Services - Australia
- Renaissance Capital - South Africa
- Bukit Asam (Persero) Tbk - Indonesia
- Cement Manufacturers Association - India
- Aboitiz Power Corporation - Philippines
- Essar Steel Hazira Ltd - India
- Samtan Co., Ltd - South Korea
- TNB Fuel Sdn Bhd - Malaysia
- AsiaOL BioFuels Corp., Philippines
- Ambuja Cements Ltd - India
- Central Electricity Authority - India
- Directorate Of Revenue Intelligence - India
- Pendopo Energi Batubara - Indonesia
- Minerals Council of Australia
- Grasim Industreis Ltd - India
- Economic Council, Georgia
- Borneo Indobara - Indonesia
- Jindal Steel & Power Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GVK Power & Infra Limited - India
- Georgia Ports Authority, United States
- Miang Besar Coal Terminal - Indonesia
- Thiess Contractors Indonesia
- Semirara Mining Corp, Philippines
- New Zealand Coal & Carbon
- Indika Energy - Indonesia
- Madhucon Powers Ltd - India
- Electricity Generating Authority of Thailand
- Kumho Petrochemical, South Korea
- Oldendorff Carriers - Singapore
- Thai Mozambique Logistica
- Salva Resources Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Gujarat Sidhee Cement - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Global Business Power Corporation, Philippines
- Xindia Steels Limited - India
- Deloitte Consulting - India
- Dalmia Cement Bharat India
- Mintek Dendrill Indonesia
- Toyota Tsusho Corporation, Japan
- Jaiprakash Power Ventures ltd
- CNBM International Corporation - China
- Romanian Commodities Exchange
- Aditya Birla Group - India
- Cigading International Bulk Terminal - Indonesia
- Bukit Makmur.PT - Indonesia
- Meralco Power Generation, Philippines
- San Jose City I Power Corp, Philippines
- Lanco Infratech Ltd - India
- Sakthi Sugars Limited - India
- Tamil Nadu electricity Board
- Central Java Power - Indonesia
- Orica Australia Pty. Ltd.
- Billiton Holdings Pty Ltd - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kapuas Tunggal Persada - Indonesia
- CIMB Investment Bank - Malaysia
- Anglo American - United Kingdom
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kalimantan Lumbung Energi - Indonesia
- Vizag Seaport Private Limited - India
- London Commodity Brokers - England
- Sarangani Energy Corporation, Philippines
- Parliament of New Zealand
- Eastern Energy - Thailand
- Siam City Cement - Thailand
- Videocon Industries ltd - India
- Rio Tinto Coal - Australia
- Indogreen Group - Indonesia
- Indian Energy Exchange, India
- Maheswari Brothers Coal Limited - India
- The Treasury - Australian Government
- Parry Sugars Refinery, India
- Edison Trading Spa - Italy
- Krishnapatnam Port Company Ltd. - India
- Therma Luzon, Inc, Philippines
- Star Paper Mills Limited - India
- Commonwealth Bank - Australia
- Kideco Jaya Agung - Indonesia
- IHS Mccloskey Coal Group - USA
- Latin American Coal - Colombia
- South Luzon Thermal Energy Corporation
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mjunction Services Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Bulk Trading Sa - Switzerland
- Indo Tambangraya Megah - Indonesia
- Bhushan Steel Limited - India
- Barasentosa Lestari - Indonesia
- PNOC Exploration Corporation - Philippines
- White Energy Company Limited
- McConnell Dowell - Australia
- GN Power Mariveles Coal Plant, Philippines
- Binh Thuan Hamico - Vietnam
- OPG Power Generation Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Iligan Light & Power Inc, Philippines
- IEA Clean Coal Centre - UK
- Independent Power Producers Association of India
- Simpson Spence & Young - Indonesia
- LBH Netherlands Bv - Netherlands
- Vedanta Resources Plc - India
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