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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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Wednesday, 15 July 20
MARKET INSIGHT - INTERMODAL
The Covid-19 virus spread around the world has obviously impacted the global oil demand while the situation remains fluid. The overall constraint ...
Tuesday, 14 July 20
CHINA TAIYUAN COAL TRANSACTION PRICE INDEX UP 0.75 PCT - XINHUA
China Taiyuan coal transaction price index stood at 126.01 points Monday, up 0.75 percent week on week.
The index, released by China ...
Tuesday, 14 July 20
TURKEY - A CASE OF UNDECLARED BUNKER - GARD
KNOWLEDGE TO ELEVATE
Undeclared/excess bunkers can be considered a criminal act by Turkish customs officials with the ship's crew being ac ...
Monday, 13 July 20
PANAMAX: A TUMULTUOUS WEEK IN THE PANAMAX MARKET ENSURED ALL MARKETS GAINED VALUE ON THE WEEK - BALTIC BRIEFING
Capesize
This week witnessed the dreaded correction in the Capesize market, with the time charter average shedding almost 18 per cent to close ...
Friday, 10 July 20
CHINA'S BENCHMARK POWER COAL PRICE EDGES UP - XINHUA
China’s benchmark power coal price rose slightly during the past week.
The Bohai-Rim Steam-Coal Price Index (BSPI), a gauge of ...
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- Meralco Power Generation, Philippines
- Commonwealth Bank - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- GAC Shipping (India) Pvt Ltd
- Independent Power Producers Association of India
- Petrochimia International Co. Ltd.- Taiwan
- Indonesian Coal Mining Association
- Gujarat Electricity Regulatory Commission - India
- Mintek Dendrill Indonesia
- International Coal Ventures Pvt Ltd - India
- Malabar Cements Ltd - India
- Medco Energi Mining Internasional
- Thiess Contractors Indonesia
- Pendopo Energi Batubara - Indonesia
- CIMB Investment Bank - Malaysia
- GVK Power & Infra Limited - India
- Price Waterhouse Coopers - Russia
- Alfred C Toepfer International GmbH - Germany
- PowerSource Philippines DevCo
- Timah Investasi Mineral - Indoneisa
- Kobexindo Tractors - Indoneisa
- Billiton Holdings Pty Ltd - Australia
- Georgia Ports Authority, United States
- Australian Coal Association
- Goldman Sachs - Singapore
- European Bulk Services B.V. - Netherlands
- Singapore Mercantile Exchange
- Krishnapatnam Port Company Ltd. - India
- Grasim Industreis Ltd - India
- Carbofer General Trading SA - India
- Minerals Council of Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Deloitte Consulting - India
- Rashtriya Ispat Nigam Limited - India
- New Zealand Coal & Carbon
- Therma Luzon, Inc, Philippines
- Bhatia International Limited - India
- Port Waratah Coal Services - Australia
- Sojitz Corporation - Japan
- Ceylon Electricity Board - Sri Lanka
- ASAPP Information Group - India
- Toyota Tsusho Corporation, Japan
- Latin American Coal - Colombia
- Bharathi Cement Corporation - India
- Global Green Power PLC Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- GMR Energy Limited - India
- Vedanta Resources Plc - India
- Indika Energy - Indonesia
- Agrawal Coal Company - India
- Vijayanagar Sugar Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PetroVietnam Power Coal Import and Supply Company
- AsiaOL BioFuels Corp., Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Gujarat Sidhee Cement - India
- Kumho Petrochemical, South Korea
- The University of Queensland
- Indo Tambangraya Megah - Indonesia
- Aditya Birla Group - India
- Bhoruka Overseas - Indonesia
- Attock Cement Pakistan Limited
- Maharashtra Electricity Regulatory Commission - India
- IHS Mccloskey Coal Group - USA
- Kaltim Prima Coal - Indonesia
- Videocon Industries ltd - India
- Semirara Mining Corp, Philippines
- Energy Development Corp, Philippines
- Cement Manufacturers Association - India
- Electricity Authority, New Zealand
- Merrill Lynch Commodities Europe
- London Commodity Brokers - England
- Wood Mackenzie - Singapore
- White Energy Company Limited
- GN Power Mariveles Coal Plant, Philippines
- Sinarmas Energy and Mining - Indonesia
- Global Coal Blending Company Limited - Australia
- Australian Commodity Traders Exchange
- Karbindo Abesyapradhi - Indoneisa
- Siam City Cement - Thailand
- Sakthi Sugars Limited - India
- Baramulti Group, Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Coal and Oil Company - UAE
- Essar Steel Hazira Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Metalloyd Limited - United Kingdom
- Larsen & Toubro Limited - India
- Planning Commission, India
- Bulk Trading Sa - Switzerland
- Central Electricity Authority - India
- Samtan Co., Ltd - South Korea
- Heidelberg Cement - Germany
- LBH Netherlands Bv - Netherlands
- Edison Trading Spa - Italy
- Africa Commodities Group - South Africa
- Orica Australia Pty. Ltd.
- Bayan Resources Tbk. - Indonesia
- Antam Resourcindo - Indonesia
- Posco Energy - South Korea
- Central Java Power - Indonesia
- Jaiprakash Power Ventures ltd
- The State Trading Corporation of India Ltd
- CNBM International Corporation - China
- Chamber of Mines of South Africa
- Sree Jayajothi Cements Limited - India
- Borneo Indobara - Indonesia
- Makarim & Taira - Indonesia
- Indian Oil Corporation Limited
- Straits Asia Resources Limited - Singapore
- Miang Besar Coal Terminal - Indonesia
- Eastern Energy - Thailand
- Global Business Power Corporation, Philippines
- Petron Corporation, Philippines
- Energy Link Ltd, New Zealand
- Thai Mozambique Logistica
- Iligan Light & Power Inc, Philippines
- Romanian Commodities Exchange
- Directorate General of MIneral and Coal - Indonesia
- Rio Tinto Coal - Australia
- Ministry of Finance - Indonesia
- MS Steel International - UAE
- Sindya Power Generating Company Private Ltd
- Kapuas Tunggal Persada - Indonesia
- Savvy Resources Ltd - HongKong
- Standard Chartered Bank - UAE
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Power Finance Corporation Ltd., India
- Directorate Of Revenue Intelligence - India
- Renaissance Capital - South Africa
- Anglo American - United Kingdom
- Xindia Steels Limited - India
- IEA Clean Coal Centre - UK
- South Luzon Thermal Energy Corporation
- Economic Council, Georgia
- Jorong Barutama Greston.PT - Indonesia
- Manunggal Multi Energi - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Vizag Seaport Private Limited - India
- McConnell Dowell - Australia
- Coastal Gujarat Power Limited - India
- Madhucon Powers Ltd - India
- Sarangani Energy Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Riau Bara Harum - Indonesia
- SMC Global Power, Philippines
- Mercuria Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Wilmar Investment Holdings
- The Treasury - Australian Government
- Kepco SPC Power Corporation, Philippines
- Dalmia Cement Bharat India
- Marubeni Corporation - India
- ICICI Bank Limited - India
- TeaM Sual Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ministry of Transport, Egypt
- VISA Power Limited - India
- Indogreen Group - Indonesia
- Aboitiz Power Corporation - Philippines
- Bhushan Steel Limited - India
- Interocean Group of Companies - India
- Bukit Makmur.PT - Indonesia
- Coalindo Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Altura Mining Limited, Indonesia
- San Jose City I Power Corp, Philippines
- Indian Energy Exchange, India
- Bahari Cakrawala Sebuku - Indonesia
- Karaikal Port Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Lanco Infratech Ltd - India
- Mjunction Services Limited - India
- Jindal Steel & Power Ltd - India
- Meenaskhi Energy Private Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Parliament of New Zealand
- Intertek Mineral Services - Indonesia
- Cigading International Bulk Terminal - Indonesia
- SMG Consultants - Indonesia
- SN Aboitiz Power Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- India Bulls Power Limited - India
- Siam City Cement PLC, Thailand
- PTC India Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Trasteel International SA, Italy
- Ambuja Cements Ltd - India
- Bukit Baiduri Energy - Indonesia
- Parry Sugars Refinery, India
- Leighton Contractors Pty Ltd - Australia
- Salva Resources Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Kideco Jaya Agung - Indonesia
- Oldendorff Carriers - Singapore
- Banpu Public Company Limited - Thailand
- Ind-Barath Power Infra Limited - India
- Uttam Galva Steels Limited - India
- Kalimantan Lumbung Energi - Indonesia
- PNOC Exploration Corporation - Philippines
- Tamil Nadu electricity Board
- Semirara Mining and Power Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Bangladesh Power Developement Board
- Simpson Spence & Young - Indonesia
- Formosa Plastics Group - Taiwan
- Mercator Lines Limited - India
- Tata Chemicals Ltd - India
- Orica Mining Services - Indonesia
- Sical Logistics Limited - India
- Ministry of Mines - Canada
- Chettinad Cement Corporation Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Eastern Coal Council - USA
- Star Paper Mills Limited - India
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