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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, 21 January 21
LNG MARKET RIDING HIGH, BUT WILL THE GAINS CONTINUE? - DREWRY
The LNG market started 2021 on a high note with Asian spot prices crossing $30 per MMBtu while LNG shipping rates recorded a high $350k per day due ...
Thursday, 21 January 21
CHINA'S SPOT THERMAL COAL PRICES REFRESH RECORD HIGH - MYSTEEL
Despite the moderate rebound in temperatures across most regions of China after late December’s deep-freeze, thermal coal prices in the count ...
Wednesday, 20 January 21
CORONAVIRUS OUTBREAK IN HEBEI HAS LIMITED IMPACT ON CHINA'S STEEL INDUSTRY - FITCH RATINGS
The recent Covid-19 outbreak in the steel producing hub Hebei will not have material impact on China’s steel industry, Fitch Ratings says.
...
Wednesday, 20 January 21
MARKET INSIGHT - INTERMODAL
While 2020 is finally behind us, its negative impacts are still hovering over the shipping market. That being said, it is still too early to even s ...
Saturday, 16 January 21
SEABORNE TRADE IN STEAM COAL DECREASED BY 11.6% FROM 937 MILLION TONNES IN 2019 TO 828 MILLION TONNES IN 2020 - COAL IMPORTERS ASSOCIATION, GERMANY
According to preliminary calculations by the German Coal Importers Association (Verein der Kohlenimporteure e. V.), global hard coal production dec ...
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- Altura Mining Limited, Indonesia
- Parry Sugars Refinery, India
- Oldendorff Carriers - Singapore
- Economic Council, Georgia
- SMC Global Power, Philippines
- White Energy Company Limited
- Metalloyd Limited - United Kingdom
- Antam Resourcindo - Indonesia
- Parliament of New Zealand
- Ceylon Electricity Board - Sri Lanka
- Chettinad Cement Corporation Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- CIMB Investment Bank - Malaysia
- Bharathi Cement Corporation - India
- Aditya Birla Group - India
- Bulk Trading Sa - Switzerland
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sarangani Energy Corporation, Philippines
- SMG Consultants - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kalimantan Lumbung Energi - Indonesia
- Binh Thuan Hamico - Vietnam
- Xindia Steels Limited - India
- Central Java Power - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Price Waterhouse Coopers - Russia
- India Bulls Power Limited - India
- Dalmia Cement Bharat India
- Sree Jayajothi Cements Limited - India
- Kohat Cement Company Ltd. - Pakistan
- The Treasury - Australian Government
- Chamber of Mines of South Africa
- Samtan Co., Ltd - South Korea
- Gujarat Electricity Regulatory Commission - India
- Indian Oil Corporation Limited
- IEA Clean Coal Centre - UK
- Ministry of Mines - Canada
- Leighton Contractors Pty Ltd - Australia
- Borneo Indobara - Indonesia
- Energy Link Ltd, New Zealand
- Directorate General of MIneral and Coal - Indonesia
- Rio Tinto Coal - Australia
- Siam City Cement PLC, Thailand
- Indian Energy Exchange, India
- Directorate Of Revenue Intelligence - India
- Sakthi Sugars Limited - India
- International Coal Ventures Pvt Ltd - India
- Planning Commission, India
- Coal and Oil Company - UAE
- The University of Queensland
- Kumho Petrochemical, South Korea
- Savvy Resources Ltd - HongKong
- Vedanta Resources Plc - India
- Deloitte Consulting - India
- Miang Besar Coal Terminal - Indonesia
- Power Finance Corporation Ltd., India
- Electricity Generating Authority of Thailand
- Star Paper Mills Limited - India
- Billiton Holdings Pty Ltd - Australia
- Manunggal Multi Energi - Indonesia
- Mercator Lines Limited - India
- Indo Tambangraya Megah - Indonesia
- The State Trading Corporation of India Ltd
- Intertek Mineral Services - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Thiess Contractors Indonesia
- Australian Coal Association
- OPG Power Generation Pvt Ltd - India
- Madhucon Powers Ltd - India
- Bhoruka Overseas - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Energy Development Corp, Philippines
- Krishnapatnam Port Company Ltd. - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bukit Baiduri Energy - Indonesia
- Wilmar Investment Holdings
- Asmin Koalindo Tuhup - Indonesia
- LBH Netherlands Bv - Netherlands
- Globalindo Alam Lestari - Indonesia
- Posco Energy - South Korea
- Wood Mackenzie - Singapore
- Bukit Makmur.PT - Indonesia
- PNOC Exploration Corporation - Philippines
- Orica Mining Services - Indonesia
- Ministry of Finance - Indonesia
- New Zealand Coal & Carbon
- Kideco Jaya Agung - Indonesia
- Carbofer General Trading SA - India
- PTC India Limited - India
- Eastern Coal Council - USA
- Bangladesh Power Developement Board
- Cement Manufacturers Association - India
- Straits Asia Resources Limited - Singapore
- Videocon Industries ltd - India
- Independent Power Producers Association of India
- VISA Power Limited - India
- Barasentosa Lestari - Indonesia
- Meenaskhi Energy Private Limited - India
- PowerSource Philippines DevCo
- Port Waratah Coal Services - Australia
- Cigading International Bulk Terminal - Indonesia
- Central Electricity Authority - India
- Kartika Selabumi Mining - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- ICICI Bank Limited - India
- Kaltim Prima Coal - Indonesia
- Toyota Tsusho Corporation, Japan
- Australian Commodity Traders Exchange
- Mercuria Energy - Indonesia
- Salva Resources Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Holcim Trading Pte Ltd - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Karaikal Port Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Thai Mozambique Logistica
- Simpson Spence & Young - Indonesia
- Minerals Council of Australia
- Coalindo Energy - Indonesia
- Larsen & Toubro Limited - India
- Merrill Lynch Commodities Europe
- Pendopo Energi Batubara - Indonesia
- Heidelberg Cement - Germany
- Grasim Industreis Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Bhushan Steel Limited - India
- Ambuja Cements Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Bayan Resources Tbk. - Indonesia
- GAC Shipping (India) Pvt Ltd
- Mintek Dendrill Indonesia
- Petron Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Eastern Energy - Thailand
- Karbindo Abesyapradhi - Indoneisa
- MS Steel International - UAE
- Uttam Galva Steels Limited - India
- Ind-Barath Power Infra Limited - India
- Global Green Power PLC Corporation, Philippines
- Tata Chemicals Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Interocean Group of Companies - India
- Indika Energy - Indonesia
- Standard Chartered Bank - UAE
- Commonwealth Bank - Australia
- Orica Australia Pty. Ltd.
- Bahari Cakrawala Sebuku - Indonesia
- Romanian Commodities Exchange
- Georgia Ports Authority, United States
- Anglo American - United Kingdom
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Singapore Mercantile Exchange
- Meralco Power Generation, Philippines
- Agrawal Coal Company - India
- Jindal Steel & Power Ltd - India
- Bhatia International Limited - India
- Edison Trading Spa - Italy
- Gujarat Sidhee Cement - India
- TeaM Sual Corporation - Philippines
- GVK Power & Infra Limited - India
- Global Coal Blending Company Limited - Australia
- Kepco SPC Power Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Formosa Plastics Group - Taiwan
- South Luzon Thermal Energy Corporation
- Lanco Infratech Ltd - India
- Ministry of Transport, Egypt
- Timah Investasi Mineral - Indoneisa
- Trasteel International SA, Italy
- Baramulti Group, Indonesia
- San Jose City I Power Corp, Philippines
- Coastal Gujarat Power Limited - India
- Rashtriya Ispat Nigam Limited - India
- Alfred C Toepfer International GmbH - Germany
- Riau Bara Harum - Indonesia
- ASAPP Information Group - India
- TNB Fuel Sdn Bhd - Malaysia
- Indonesian Coal Mining Association
- Sical Logistics Limited - India
- SN Aboitiz Power Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Latin American Coal - Colombia
- CNBM International Corporation - China
- Maheswari Brothers Coal Limited - India
- Global Business Power Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Mjunction Services Limited - India
- GMR Energy Limited - India
- Siam City Cement - Thailand
- Marubeni Corporation - India
- Banpu Public Company Limited - Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Goldman Sachs - Singapore
- Vizag Seaport Private Limited - India
- Attock Cement Pakistan Limited
- Makarim & Taira - Indonesia
- Aboitiz Power Corporation - Philippines
- Jaiprakash Power Ventures ltd
- Electricity Authority, New Zealand
- McConnell Dowell - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sindya Power Generating Company Private Ltd
- European Bulk Services B.V. - Netherlands
- Renaissance Capital - South Africa
- London Commodity Brokers - England
- Malabar Cements Ltd - India
- Iligan Light & Power Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Tamil Nadu electricity Board
- Kapuas Tunggal Persada - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Medco Energi Mining Internasional
- Indogreen Group - Indonesia
- Africa Commodities Group - South Africa
- Sojitz Corporation - Japan
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