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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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Monday, 20 July 20
OIL PRICE OF $40-43 PER BARREL MORE OR LESS BALANCED - NOVAK | TASS
The Russian Ministry of Energy considers the current oil price of $40-43 per barrel more or less balanced and does not expect price changes after t ...
Monday, 20 July 20
SUPRAMAX: A 63,000 OPEN NORTH CHINA FIXING AN AUSTRALIAN ROUND IN THE LOW $10,000S - BALTIC BRIEFING
Capesize
The capesize market showed some resistance this week to recent losses as all routes saw a small uptick in value to end the week. With ...
Friday, 17 July 20
MISC MALAYSIA ENTERS INTO PURCHASE AGREEMENTS AND TIME CHARTER PARTIES FOR SIX VLECS
MISC Berhad (MISC) has entered into Memorandum of Agreements (MOAs) with six indirect wholly-owned subsidiaries of Zhejiang Satellite Petrochem ...
Wednesday, 15 July 20
HOW MEANINGFUL ARE SOME ESTIMATES FOR INDIA’S COAL CONSUMPTION DATA? - IEEFA
In recent years, BP's estimates for India have contained what appears to be a record of over-optimistic projections
BP’s a ...
Wednesday, 15 July 20
CHINA'S JUNE COAL IMPORTS FALL 6.7% Y/Y ON PORT CURBS - REUTERS
China’s coal imports dropped 6.7% in June from the same period last year, as stringent import restrictions at ports impeded purchases by trad ...
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- Economic Council, Georgia
- Ministry of Finance - Indonesia
- Directorate Of Revenue Intelligence - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Rashtriya Ispat Nigam Limited - India
- GVK Power & Infra Limited - India
- Iligan Light & Power Inc, Philippines
- Coalindo Energy - Indonesia
- Mintek Dendrill Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Kapuas Tunggal Persada - Indonesia
- Ind-Barath Power Infra Limited - India
- Ceylon Electricity Board - Sri Lanka
- Sical Logistics Limited - India
- Riau Bara Harum - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- PowerSource Philippines DevCo
- Altura Mining Limited, Indonesia
- Posco Energy - South Korea
- Deloitte Consulting - India
- Medco Energi Mining Internasional
- Petrochimia International Co. Ltd.- Taiwan
- Pendopo Energi Batubara - Indonesia
- AsiaOL BioFuels Corp., Philippines
- SN Aboitiz Power Inc, Philippines
- South Luzon Thermal Energy Corporation
- Globalindo Alam Lestari - Indonesia
- Parry Sugars Refinery, India
- Bukit Asam (Persero) Tbk - Indonesia
- Aboitiz Power Corporation - Philippines
- Price Waterhouse Coopers - Russia
- Energy Development Corp, Philippines
- Cement Manufacturers Association - India
- GMR Energy Limited - India
- Mercator Lines Limited - India
- Thai Mozambique Logistica
- Orica Australia Pty. Ltd.
- Meenaskhi Energy Private Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Jaiprakash Power Ventures ltd
- SMC Global Power, Philippines
- Oldendorff Carriers - Singapore
- Independent Power Producers Association of India
- Sree Jayajothi Cements Limited - India
- Formosa Plastics Group - Taiwan
- San Jose City I Power Corp, Philippines
- TeaM Sual Corporation - Philippines
- Lanco Infratech Ltd - India
- Electricity Generating Authority of Thailand
- Eastern Energy - Thailand
- Leighton Contractors Pty Ltd - Australia
- Interocean Group of Companies - India
- Bukit Makmur.PT - Indonesia
- Sakthi Sugars Limited - India
- Bhoruka Overseas - Indonesia
- Wood Mackenzie - Singapore
- Ambuja Cements Ltd - India
- Energy Link Ltd, New Zealand
- Samtan Co., Ltd - South Korea
- Sindya Power Generating Company Private Ltd
- Electricity Authority, New Zealand
- Borneo Indobara - Indonesia
- Singapore Mercantile Exchange
- Tata Chemicals Ltd - India
- Sojitz Corporation - Japan
- Vedanta Resources Plc - India
- Kalimantan Lumbung Energi - Indonesia
- Wilmar Investment Holdings
- Bharathi Cement Corporation - India
- Indian Oil Corporation Limited
- Agrawal Coal Company - India
- Chamber of Mines of South Africa
- Baramulti Group, Indonesia
- Grasim Industreis Ltd - India
- CNBM International Corporation - China
- IEA Clean Coal Centre - UK
- Kobexindo Tractors - Indoneisa
- Gujarat Electricity Regulatory Commission - India
- Indonesian Coal Mining Association
- Karaikal Port Pvt Ltd - India
- Coal and Oil Company - UAE
- Australian Commodity Traders Exchange
- Madhucon Powers Ltd - India
- Simpson Spence & Young - Indonesia
- Commonwealth Bank - Australia
- Krishnapatnam Port Company Ltd. - India
- CIMB Investment Bank - Malaysia
- Ministry of Mines - Canada
- Vijayanagar Sugar Pvt Ltd - India
- Attock Cement Pakistan Limited
- Larsen & Toubro Limited - India
- Miang Besar Coal Terminal - Indonesia
- Merrill Lynch Commodities Europe
- Indo Tambangraya Megah - Indonesia
- Bhatia International Limited - India
- Minerals Council of Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Billiton Holdings Pty Ltd - Australia
- VISA Power Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Semirara Mining Corp, Philippines
- Videocon Industries ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Carbofer General Trading SA - India
- Mjunction Services Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indogreen Group - Indonesia
- European Bulk Services B.V. - Netherlands
- Renaissance Capital - South Africa
- Goldman Sachs - Singapore
- LBH Netherlands Bv - Netherlands
- Essar Steel Hazira Ltd - India
- ASAPP Information Group - India
- Eastern Coal Council - USA
- Central Electricity Authority - India
- McConnell Dowell - Australia
- IHS Mccloskey Coal Group - USA
- India Bulls Power Limited - India
- International Coal Ventures Pvt Ltd - India
- Edison Trading Spa - Italy
- Heidelberg Cement - Germany
- GAC Shipping (India) Pvt Ltd
- Global Coal Blending Company Limited - Australia
- Holcim Trading Pte Ltd - Singapore
- OPG Power Generation Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Kohat Cement Company Ltd. - Pakistan
- Port Waratah Coal Services - Australia
- Intertek Mineral Services - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Central Java Power - Indonesia
- Mercuria Energy - Indonesia
- Planning Commission, India
- Kaltim Prima Coal - Indonesia
- Australian Coal Association
- Global Green Power PLC Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Bahari Cakrawala Sebuku - Indonesia
- Anglo American - United Kingdom
- Chettinad Cement Corporation Ltd - India
- The University of Queensland
- Toyota Tsusho Corporation, Japan
- Latin American Coal - Colombia
- Jindal Steel & Power Ltd - India
- London Commodity Brokers - England
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Cigading International Bulk Terminal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Salva Resources Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Manunggal Multi Energi - Indonesia
- Xindia Steels Limited - India
- Rio Tinto Coal - Australia
- Petron Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Kideco Jaya Agung - Indonesia
- Power Finance Corporation Ltd., India
- Maheswari Brothers Coal Limited - India
- Antam Resourcindo - Indonesia
- The State Trading Corporation of India Ltd
- Kartika Selabumi Mining - Indonesia
- Sarangani Energy Corporation, Philippines
- Standard Chartered Bank - UAE
- Savvy Resources Ltd - HongKong
- Bayan Resources Tbk. - Indonesia
- Meralco Power Generation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Tamil Nadu electricity Board
- Indian Energy Exchange, India
- Therma Luzon, Inc, Philippines
- Trasteel International SA, Italy
- Global Business Power Corporation, Philippines
- Malabar Cements Ltd - India
- Africa Commodities Group - South Africa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Dalmia Cement Bharat India
- Metalloyd Limited - United Kingdom
- Bangladesh Power Developement Board
- Vizag Seaport Private Limited - India
- Star Paper Mills Limited - India
- ICICI Bank Limited - India
- Sinarmas Energy and Mining - Indonesia
- Binh Thuan Hamico - Vietnam
- Parliament of New Zealand
- Romanian Commodities Exchange
- Kumho Petrochemical, South Korea
- The Treasury - Australian Government
- MS Steel International - UAE
- Marubeni Corporation - India
- Georgia Ports Authority, United States
- Maharashtra Electricity Regulatory Commission - India
- Bulk Trading Sa - Switzerland
- Ministry of Transport, Egypt
- Aditya Birla Group - India
- SMG Consultants - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Semirara Mining and Power Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Bhushan Steel Limited - India
- PNOC Exploration Corporation - Philippines
- New Zealand Coal & Carbon
- Siam City Cement - Thailand
- Orica Mining Services - Indonesia
- Siam City Cement PLC, Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- White Energy Company Limited
- Thiess Contractors Indonesia
- Gujarat Sidhee Cement - India
- Straits Asia Resources Limited - Singapore
- Indika Energy - Indonesia
- Coastal Gujarat Power Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- PTC India Limited - India
- Makarim & Taira - Indonesia
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