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