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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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Saturday, 01 August 20
ASIA HOPE FOR LONG-TERM OIL DEMAND - BALTIC BRIEFING
Oil demand in Asia Pacific might be expected to plunge 1.8m barrels per day (bpd) this year, but there are still strong prospects for growth over t ...
Friday, 31 July 20
SHORT-TERM IMPACT ON THE CHEMICAL SHIPPING MARKET IF THE INDIA-CHINA DISPUTE ESCALATES - DREWRY
Due to the India-China dispute, the threat of deteriorating trade relations between the two countries has become real. Meanwhile, we expect freight ...
Friday, 31 July 20
PANAMAX: THE PERIOD MARKET REMAINS QUIET WITH FEW FIXTURES REPORTED - FEARNLEYS
Capesize
After weeks of dropping rates, there are finally some resistance for the Capes. Pacific rounds improving to upper15,000s by the middle ...
Friday, 31 July 20
PANDEMIC SENDING SOUTH AFRICAN COAL INDUSTRY TO EARLIER GRAVE - IEEFA
Could South Africa’s coal export industry, one of the largest in the world, be about to take a severe hit from the coronavirus?
...
Friday, 31 July 20
BOTSWANA PLANS MORE COAL-FIRED POWER AS AFRICAN SOLAR ACCELERATES - IEEFA
An African economic leader like Botswana should embrace solar to reduce subsidies and tariff hikes
As Sub-Saharan solar ambition has ...
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- Sakthi Sugars Limited - India
- Kaltim Prima Coal - Indonesia
- Jindal Steel & Power Ltd - India
- Commonwealth Bank - Australia
- Singapore Mercantile Exchange
- The Treasury - Australian Government
- Trasteel International SA, Italy
- Videocon Industries ltd - India
- Kumho Petrochemical, South Korea
- Mercuria Energy - Indonesia
- Energy Development Corp, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Planning Commission, India
- Indogreen Group - Indonesia
- Kepco SPC Power Corporation, Philippines
- The State Trading Corporation of India Ltd
- Parry Sugars Refinery, India
- Indonesian Coal Mining Association
- VISA Power Limited - India
- Bayan Resources Tbk. - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Coastal Gujarat Power Limited - India
- Central Electricity Authority - India
- Karaikal Port Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Antam Resourcindo - Indonesia
- Baramulti Group, Indonesia
- Mintek Dendrill Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Eastern Coal Council - USA
- Parliament of New Zealand
- Aditya Birla Group - India
- Cement Manufacturers Association - India
- Intertek Mineral Services - Indonesia
- Wood Mackenzie - Singapore
- SMG Consultants - Indonesia
- Renaissance Capital - South Africa
- Neyveli Lignite Corporation Ltd, - India
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- Globalindo Alam Lestari - Indonesia
- Semirara Mining Corp, Philippines
- Madhucon Powers Ltd - India
- OPG Power Generation Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Romanian Commodities Exchange
- GVK Power & Infra Limited - India
- Kapuas Tunggal Persada - Indonesia
- Essar Steel Hazira Ltd - India
- Indo Tambangraya Megah - Indonesia
- Medco Energi Mining Internasional
- Meenaskhi Energy Private Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Global Coal Blending Company Limited - Australia
- Samtan Co., Ltd - South Korea
- Minerals Council of Australia
- Carbofer General Trading SA - India
- Anglo American - United Kingdom
- Marubeni Corporation - India
- Dalmia Cement Bharat India
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- Maheswari Brothers Coal Limited - India
- Interocean Group of Companies - India
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- Bulk Trading Sa - Switzerland
- Miang Besar Coal Terminal - Indonesia
- Meralco Power Generation, Philippines
- Petron Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Bhatia International Limited - India
- Barasentosa Lestari - Indonesia
- Altura Mining Limited, Indonesia
- Rashtriya Ispat Nigam Limited - India
- Pendopo Energi Batubara - Indonesia
- ASAPP Information Group - India
- Chettinad Cement Corporation Ltd - India
- Aboitiz Power Corporation - Philippines
- Vedanta Resources Plc - India
- Gujarat Mineral Development Corp Ltd - India
- Vizag Seaport Private Limited - India
- Eastern Energy - Thailand
- PetroVietnam Power Coal Import and Supply Company
- LBH Netherlands Bv - Netherlands
- Goldman Sachs - Singapore
- Oldendorff Carriers - Singapore
- Cigading International Bulk Terminal - Indonesia
- South Luzon Thermal Energy Corporation
- Timah Investasi Mineral - Indoneisa
- Edison Trading Spa - Italy
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Wilmar Investment Holdings
- Bukit Asam (Persero) Tbk - Indonesia
- International Coal Ventures Pvt Ltd - India
- Ministry of Mines - Canada
- Bukit Makmur.PT - Indonesia
- Manunggal Multi Energi - Indonesia
- Merrill Lynch Commodities Europe
- Standard Chartered Bank - UAE
- Pipit Mutiara Jaya. PT, Indonesia
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- Krishnapatnam Port Company Ltd. - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bangladesh Power Developement Board
- Xindia Steels Limited - India
- Tata Chemicals Ltd - India
- Chamber of Mines of South Africa
- Bhushan Steel Limited - India
- Posco Energy - South Korea
- Siam City Cement PLC, Thailand
- Mercator Lines Limited - India
- Sarangani Energy Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Electricity Generating Authority of Thailand
- European Bulk Services B.V. - Netherlands
- Savvy Resources Ltd - HongKong
- Siam City Cement - Thailand
- Mjunction Services Limited - India
- Sindya Power Generating Company Private Ltd
- The University of Queensland
- Kalimantan Lumbung Energi - Indonesia
- Sojitz Corporation - Japan
- London Commodity Brokers - England
- Star Paper Mills Limited - India
- PowerSource Philippines DevCo
- Straits Asia Resources Limited - Singapore
- Kideco Jaya Agung - Indonesia
- Power Finance Corporation Ltd., India
- Georgia Ports Authority, United States
- Semirara Mining and Power Corporation, Philippines
- Ambuja Cements Ltd - India
- SN Aboitiz Power Inc, Philippines
- Coal and Oil Company - UAE
- Binh Thuan Hamico - Vietnam
- Bahari Cakrawala Sebuku - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Africa Commodities Group - South Africa
- Vijayanagar Sugar Pvt Ltd - India
- Indika Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Grasim Industreis Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Petrochimia International Co. Ltd.- Taiwan
- India Bulls Power Limited - India
- Ceylon Electricity Board - Sri Lanka
- Malabar Cements Ltd - India
- Gujarat Sidhee Cement - India
- Energy Link Ltd, New Zealand
- Thiess Contractors Indonesia
- Billiton Holdings Pty Ltd - Australia
- Global Business Power Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Indian Energy Exchange, India
- Metalloyd Limited - United Kingdom
- Kobexindo Tractors - Indoneisa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Simpson Spence & Young - Indonesia
- Economic Council, Georgia
- IEA Clean Coal Centre - UK
- Asmin Koalindo Tuhup - Indonesia
- Therma Luzon, Inc, Philippines
- Tamil Nadu electricity Board
- Australian Coal Association
- Coalindo Energy - Indonesia
- Indian Oil Corporation Limited
- Heidelberg Cement - Germany
- Electricity Authority, New Zealand
- Lanco Infratech Ltd - India
- Australian Commodity Traders Exchange
- Deloitte Consulting - India
- Attock Cement Pakistan Limited
- Formosa Plastics Group - Taiwan
- Toyota Tsusho Corporation, Japan
- TNB Fuel Sdn Bhd - Malaysia
- Kohat Cement Company Ltd. - Pakistan
- AsiaOL BioFuels Corp., Philippines
- McConnell Dowell - Australia
- Banpu Public Company Limited - Thailand
- New Zealand Coal & Carbon
- PNOC Exploration Corporation - Philippines
- CIMB Investment Bank - Malaysia
- White Energy Company Limited
- Sical Logistics Limited - India
- Riau Bara Harum - Indonesia
- Ministry of Transport, Egypt
- Bhoruka Overseas - Indonesia
- Uttam Galva Steels Limited - India
- Port Waratah Coal Services - Australia
- MS Steel International - UAE
- Thai Mozambique Logistica
- CNBM International Corporation - China
- Ministry of Finance - Indonesia
- Bharathi Cement Corporation - India
- Makarim & Taira - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- GAC Shipping (India) Pvt Ltd
- Agrawal Coal Company - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Leighton Contractors Pty Ltd - Australia
- Orica Australia Pty. Ltd.
- Rio Tinto Coal - Australia
- Alfred C Toepfer International GmbH - Germany
- Orica Mining Services - Indonesia
- PTC India Limited - India
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- Independent Power Producers Association of India
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- Larsen & Toubro Limited - India
- Sinarmas Energy and Mining - Indonesia
- Salva Resources Pvt Ltd - India
- SMC Global Power, Philippines
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