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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, 09 November 23
GREEK AND CHINESE COMPANIES OWN 34% OF THE GLOBAL FLEET’S CARGO CAPACITY - BIMCO
“The global fleet of cargo carrying ships consists of around 61,000 ships with a deadweight capacity of about 2,200 million tonnes. The ships ...
Monday, 23 October 23
CHINA SEPT COAL OUTPUT HITS SIX-MONTH HIGH ON RISING POWER DEMAND - REUTERS
China’s September coal output rose 0.4% from August to the highest level since March, official data showed on Wednesday, on rising power dema ...
Monday, 23 October 23
INDIA COAL INVENTORIES DROP AT FASTEST PACE IN TWO YEARS, BOOSTING IMPORTS - REUTERS
Coal inventories at Indian power plants in the first half of October fell at their fastest rate in two years, an analysis of government data showed ...
Tuesday, 19 September 23
LNG SHIPPING STOCKS: THE ASIAN GROWTH UP-INDICES
Last week, the UP World LNG Shipping Index (UPI) gained 3.81 points or 2.51%, closing at 155.85 points. This index tracks the performance of LNG sh ...
Sunday, 10 September 23
GOLDMAN SACHS PREDICTS OIL PRICE TO HIT $100 ON OPEC CUTS - YAHOO FINANCE
Oil supply cuts by Saudi Arabia and Russia could lead to Brent crude jumping as high as $107 a barrel in 2024, Goldman Sachs Commodities Research h ...
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- Barasentosa Lestari - Indonesia
- Carbofer General Trading SA - India
- Savvy Resources Ltd - HongKong
- SMG Consultants - Indonesia
- PNOC Exploration Corporation - Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- MS Steel International - UAE
- Ceylon Electricity Board - Sri Lanka
- Bank of Tokyo Mitsubishi UFJ Ltd
- Holcim Trading Pte Ltd - Singapore
- Edison Trading Spa - Italy
- The Treasury - Australian Government
- White Energy Company Limited
- Australian Coal Association
- Kalimantan Lumbung Energi - Indonesia
- Straits Asia Resources Limited - Singapore
- New Zealand Coal & Carbon
- Siam City Cement PLC, Thailand
- Bharathi Cement Corporation - India
- VISA Power Limited - India
- Chamber of Mines of South Africa
- Sojitz Corporation - Japan
- The University of Queensland
- Bukit Baiduri Energy - Indonesia
- Borneo Indobara - Indonesia
- Directorate Of Revenue Intelligence - India
- Economic Council, Georgia
- Bhushan Steel Limited - India
- Parliament of New Zealand
- Orica Mining Services - Indonesia
- GAC Shipping (India) Pvt Ltd
- Ambuja Cements Ltd - India
- Sarangani Energy Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Romanian Commodities Exchange
- Sinarmas Energy and Mining - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Intertek Mineral Services - Indonesia
- Kideco Jaya Agung - Indonesia
- Metalloyd Limited - United Kingdom
- Ind-Barath Power Infra Limited - India
- Central Electricity Authority - India
- Parry Sugars Refinery, India
- Indian Oil Corporation Limited
- Mercuria Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Energy Link Ltd, New Zealand
- Gujarat Electricity Regulatory Commission - India
- Asmin Koalindo Tuhup - Indonesia
- Dalmia Cement Bharat India
- Renaissance Capital - South Africa
- Bhatia International Limited - India
- Agrawal Coal Company - India
- Kepco SPC Power Corporation, Philippines
- Interocean Group of Companies - India
- Neyveli Lignite Corporation Ltd, - India
- Xindia Steels Limited - India
- CIMB Investment Bank - Malaysia
- Latin American Coal - Colombia
- Kohat Cement Company Ltd. - Pakistan
- Ministry of Finance - Indonesia
- TeaM Sual Corporation - Philippines
- Billiton Holdings Pty Ltd - Australia
- Bayan Resources Tbk. - Indonesia
- Meenaskhi Energy Private Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Leighton Contractors Pty Ltd - Australia
- GN Power Mariveles Coal Plant, Philippines
- Medco Energi Mining Internasional
- ICICI Bank Limited - India
- Kumho Petrochemical, South Korea
- Sical Logistics Limited - India
- Miang Besar Coal Terminal - Indonesia
- Thiess Contractors Indonesia
- Madhucon Powers Ltd - India
- London Commodity Brokers - England
- Kaltim Prima Coal - Indonesia
- Indonesian Coal Mining Association
- Therma Luzon, Inc, Philippines
- Vizag Seaport Private Limited - India
- Gujarat Sidhee Cement - India
- Jindal Steel & Power Ltd - India
- Petron Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Mjunction Services Limited - India
- Videocon Industries ltd - India
- Aboitiz Power Corporation - Philippines
- Coal and Oil Company - UAE
- Kapuas Tunggal Persada - Indonesia
- Grasim Industreis Ltd - India
- McConnell Dowell - Australia
- Aditya Birla Group - India
- IEA Clean Coal Centre - UK
- Electricity Generating Authority of Thailand
- IHS Mccloskey Coal Group - USA
- Oldendorff Carriers - Singapore
- OPG Power Generation Pvt Ltd - India
- Mercator Lines Limited - India
- Standard Chartered Bank - UAE
- Larsen & Toubro Limited - India
- Semirara Mining Corp, Philippines
- Makarim & Taira - Indonesia
- Independent Power Producers Association of India
- Georgia Ports Authority, United States
- Pipit Mutiara Jaya. PT, Indonesia
- Central Java Power - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Formosa Plastics Group - Taiwan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Antam Resourcindo - Indonesia
- Essar Steel Hazira Ltd - India
- Eastern Coal Council - USA
- Gujarat Mineral Development Corp Ltd - India
- Commonwealth Bank - Australia
- Maheswari Brothers Coal Limited - India
- San Jose City I Power Corp, Philippines
- Siam City Cement - Thailand
- Price Waterhouse Coopers - Russia
- PowerSource Philippines DevCo
- Minerals Council of Australia
- Tamil Nadu electricity Board
- Karbindo Abesyapradhi - Indoneisa
- Cigading International Bulk Terminal - Indonesia
- Manunggal Multi Energi - Indonesia
- Tata Chemicals Ltd - India
- International Coal Ventures Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Posco Energy - South Korea
- Heidelberg Cement - Germany
- Samtan Co., Ltd - South Korea
- Global Business Power Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Singapore Mercantile Exchange
- Indo Tambangraya Megah - Indonesia
- The State Trading Corporation of India Ltd
- Rio Tinto Coal - Australia
- Wood Mackenzie - Singapore
- Thai Mozambique Logistica
- Salva Resources Pvt Ltd - India
- Bangladesh Power Developement Board
- Timah Investasi Mineral - Indoneisa
- Africa Commodities Group - South Africa
- Rashtriya Ispat Nigam Limited - India
- Malabar Cements Ltd - India
- Coastal Gujarat Power Limited - India
- CNBM International Corporation - China
- PetroVietnam Power Coal Import and Supply Company
- SMC Global Power, Philippines
- Ministry of Transport, Egypt
- LBH Netherlands Bv - Netherlands
- Sindya Power Generating Company Private Ltd
- Electricity Authority, New Zealand
- Uttam Galva Steels Limited - India
- AsiaOL BioFuels Corp., Philippines
- Power Finance Corporation Ltd., India
- Sree Jayajothi Cements Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Krishnapatnam Port Company Ltd. - India
- GMR Energy Limited - India
- Marubeni Corporation - India
- Jorong Barutama Greston.PT - Indonesia
- SN Aboitiz Power Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Cement Manufacturers Association - India
- Merrill Lynch Commodities Europe
- India Bulls Power Limited - India
- Baramulti Group, Indonesia
- Goldman Sachs - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Chettinad Cement Corporation Ltd - India
- Lanco Infratech Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Anglo American - United Kingdom
- Coalindo Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- European Bulk Services B.V. - Netherlands
- Orica Australia Pty. Ltd.
- Bulk Trading Sa - Switzerland
- PTC India Limited - India
- Riau Bara Harum - Indonesia
- Indika Energy - Indonesia
- Sakthi Sugars Limited - India
- Star Paper Mills Limited - India
- Energy Development Corp, Philippines
- Altura Mining Limited, Indonesia
- Kartika Selabumi Mining - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Wilmar Investment Holdings
- Indian Energy Exchange, India
- Toyota Tsusho Corporation, Japan
- Eastern Energy - Thailand
- Banpu Public Company Limited - Thailand
- Vedanta Resources Plc - India
- Port Waratah Coal Services - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GVK Power & Infra Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indogreen Group - Indonesia
- Deloitte Consulting - India
- ASAPP Information Group - India
- Semirara Mining and Power Corporation, Philippines
- Planning Commission, India
- Karaikal Port Pvt Ltd - India
- Attock Cement Pakistan Limited
- Bukit Makmur.PT - Indonesia
- Mintek Dendrill Indonesia
- Ministry of Mines - Canada
- Meralco Power Generation, Philippines
- Bhoruka Overseas - Indonesia
- Global Green Power PLC Corporation, Philippines
- Trasteel International SA, Italy
- Simpson Spence & Young - Indonesia
- Global Coal Blending Company Limited - Australia
- Pendopo Energi Batubara - Indonesia
- Australian Commodity Traders Exchange
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