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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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Tuesday, 25 May 21
KOREA SOUTHERN POWER INVITED BIDS FOR 870,000 MT OF MIN 5300 NCV COAL FOR 2021 TO 2023.
COALspot.com: Korea Southern Power Co., Ltd. (KOSPO) has issued an International tender for total 870,000 MT of Min 5,300 kcal/kg NCV coal for Augu ...
Tuesday, 25 May 21
CHINA’S COAL OUTPUT RISES IN FIRST FOUR MONTHS - XINHUA
China’s raw coal output rose 11.1 percent year on year to 1.29 billion tonnes in the first four months of 2021, official data showed.
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Tuesday, 25 May 21
MARINE SHIPPERS BULK UP: ANOTHER GAME OF CHICKEN IN THE WORKS? - THE KOREA TIMES
Global shipping companies have been placing orders for large ships, with many anticipating further increased competition within the next three year ...
Friday, 21 May 21
MARKET INSIGHT - INTERMODAL
The dry bulk market’s counter seasonal surge so far into the first half of the year -in a sort of 2010 manner - and Capesize’s recent r ...
Wednesday, 12 May 21
U.S. COAL PRODUCTION TO INCREASE BY 43 MMST IN 2021 TOTAL 582 MILLION SHORT TONS - EIA
U.S. energy Information Administration expects U.S. coal production to total 582 million short tons (MMst) in 2021, 43 MMst (8%) more than in 2020. ...
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- CIMB Investment Bank - Malaysia
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- Alfred C Toepfer International GmbH - Germany
- Therma Luzon, Inc, Philippines
- Meenaskhi Energy Private Limited - India
- Borneo Indobara - Indonesia
- Sarangani Energy Corporation, Philippines
- Ministry of Transport, Egypt
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- Rashtriya Ispat Nigam Limited - India
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- Siam City Cement - Thailand
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- Heidelberg Cement - Germany
- MS Steel International - UAE
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- Kohat Cement Company Ltd. - Pakistan
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- Global Coal Blending Company Limited - Australia
- Chamber of Mines of South Africa
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- Indonesian Coal Mining Association
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- Planning Commission, India
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- Xindia Steels Limited - India
- Goldman Sachs - Singapore
- TeaM Sual Corporation - Philippines
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- Commonwealth Bank - Australia
- Timah Investasi Mineral - Indoneisa
- Indogreen Group - Indonesia
- PTC India Limited - India
- Vizag Seaport Private Limited - India
- Central Java Power - Indonesia
- Bangladesh Power Developement Board
- Tamil Nadu electricity Board
- OPG Power Generation Pvt Ltd - India
- Australian Commodity Traders Exchange
- Siam City Cement PLC, Thailand
- Economic Council, Georgia
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- Petron Corporation, Philippines
- Grasim Industreis Ltd - India
- PowerSource Philippines DevCo
- Cement Manufacturers Association - India
- Neyveli Lignite Corporation Ltd, - India
- Kaltim Prima Coal - Indonesia
- Indian Energy Exchange, India
- Uttam Galva Steels Limited - India
- Krishnapatnam Port Company Ltd. - India
- Antam Resourcindo - Indonesia
- Baramulti Group, Indonesia
- ICICI Bank Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Wood Mackenzie - Singapore
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- AsiaOL BioFuels Corp., Philippines
- Sakthi Sugars Limited - India
- Orica Australia Pty. Ltd.
- Ministry of Mines - Canada
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- Banpu Public Company Limited - Thailand
- Thiess Contractors Indonesia
- Metalloyd Limited - United Kingdom
- LBH Netherlands Bv - Netherlands
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- Edison Trading Spa - Italy
- GMR Energy Limited - India
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- Price Waterhouse Coopers - Russia
- Global Business Power Corporation, Philippines
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- Sinarmas Energy and Mining - Indonesia
- Merrill Lynch Commodities Europe
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- Africa Commodities Group - South Africa
- Australian Coal Association
- CNBM International Corporation - China
- Bharathi Cement Corporation - India
- Kapuas Tunggal Persada - Indonesia
- Agrawal Coal Company - India
- Medco Energi Mining Internasional
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- Meralco Power Generation, Philippines
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- Kumho Petrochemical, South Korea
- Jindal Steel & Power Ltd - India
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- Star Paper Mills Limited - India
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- Romanian Commodities Exchange
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- Barasentosa Lestari - Indonesia
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- Bhoruka Overseas - Indonesia
- Maheswari Brothers Coal Limited - India
- Bukit Makmur.PT - Indonesia
- Bayan Resources Tbk. - Indonesia
- Minerals Council of Australia
- Attock Cement Pakistan Limited
- Miang Besar Coal Terminal - Indonesia
- Sical Logistics Limited - India
- The University of Queensland
- GN Power Mariveles Coal Plant, Philippines
- Malabar Cements Ltd - India
- Indika Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- International Coal Ventures Pvt Ltd - India
- Parry Sugars Refinery, India
- VISA Power Limited - India
- The State Trading Corporation of India Ltd
- San Jose City I Power Corp, Philippines
- Thai Mozambique Logistica
- Renaissance Capital - South Africa
- Eastern Coal Council - USA
- Coalindo Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
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- Coal and Oil Company - UAE
- Eastern Energy - Thailand
- Indian Oil Corporation Limited
- New Zealand Coal & Carbon
- Power Finance Corporation Ltd., India
- Coastal Gujarat Power Limited - India
- Central Electricity Authority - India
- Interocean Group of Companies - India
- GVK Power & Infra Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Independent Power Producers Association of India
- Karbindo Abesyapradhi - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- Dalmia Cement Bharat India
- Kalimantan Lumbung Energi - Indonesia
- Intertek Mineral Services - Indonesia
- Parliament of New Zealand
- Jaiprakash Power Ventures ltd
- SN Aboitiz Power Inc, Philippines
- Electricity Authority, New Zealand
- Jorong Barutama Greston.PT - Indonesia
- Chettinad Cement Corporation Ltd - India
- Kepco SPC Power Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Bhatia International Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Deloitte Consulting - India
- Larsen & Toubro Limited - India
- Electricity Generating Authority of Thailand
- Leighton Contractors Pty Ltd - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Formosa Plastics Group - Taiwan
- London Commodity Brokers - England
- Directorate Of Revenue Intelligence - India
- Standard Chartered Bank - UAE
- Ind-Barath Power Infra Limited - India
- Cigading International Bulk Terminal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Savvy Resources Ltd - HongKong
- Bukit Asam (Persero) Tbk - Indonesia
- Sree Jayajothi Cements Limited - India
- Kideco Jaya Agung - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- White Energy Company Limited
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- India Bulls Power Limited - India
- Holcim Trading Pte Ltd - Singapore
- Sojitz Corporation - Japan
- Gujarat Electricity Regulatory Commission - India
- Mercuria Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Simpson Spence & Young - Indonesia
- IEA Clean Coal Centre - UK
- SMG Consultants - Indonesia
- Energy Link Ltd, New Zealand
- Essar Steel Hazira Ltd - India
- Videocon Industries ltd - India
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