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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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Friday, 10 July 20
GLOBAL SHIPPING EARNINGS FORECAST CUT AS SUPPLY SET TO OUTSTRIP DEMAND - MOODY'S
EBITDA forecast worsens, keeping outlook negative. We now expect the aggregate EBITDA of rated shipping companies to fall by around 16%-18% in 2020 ...
Friday, 10 July 20
SLOW RECOVERY IN TANKER RATES TO WEIGH ON BUANA LINTAS LAUTAN - FITCH RATINGS
Fitch Ratings believes that international tanker rates are likely improve after their sharp fall since May 2020, albeit at a slow pace. The weaknes ...
Wednesday, 08 July 20
MARKET INSIGHT - INTERMODAL
During the previous month, the dry bulk market witnessed an impressive increase in the BDI index that has reached 1800 points from 500 with a clear ...
Tuesday, 07 July 20
COAL INDIA WORKERS STRIKE CUTS OUTPUT BY 56%: OFFICIAL - REUTERS
A strike at Coal India Ltd cut production by 56% in the three days ending July 4 as workers oppose opening up coal mining to the private sector, a ...
Tuesday, 07 July 20
WHAT DOES THE PATHWAY TO A NET-ZERO ECONOMY LOOK LIKE FOR MINERS? - WOOD MACKENZIE
Wind, solar, electric vehicles, stationary storage and transmission are all central to achieving the Paris Agreement decarbonisation goals.
&nb ...
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- Sree Jayajothi Cements Limited - India
- Independent Power Producers Association of India
- Metalloyd Limited - United Kingdom
- Sarangani Energy Corporation, Philippines
- Cement Manufacturers Association - India
- Neyveli Lignite Corporation Ltd, - India
- Georgia Ports Authority, United States
- Eastern Coal Council - USA
- Thai Mozambique Logistica
- IEA Clean Coal Centre - UK
- Standard Chartered Bank - UAE
- Coal and Oil Company - UAE
- Bhoruka Overseas - Indonesia
- Simpson Spence & Young - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Kaltim Prima Coal - Indonesia
- Parry Sugars Refinery, India
- Ministry of Finance - Indonesia
- Parliament of New Zealand
- Cigading International Bulk Terminal - Indonesia
- Maheswari Brothers Coal Limited - India
- Oldendorff Carriers - Singapore
- TeaM Sual Corporation - Philippines
- Ind-Barath Power Infra Limited - India
- Pendopo Energi Batubara - Indonesia
- Energy Link Ltd, New Zealand
- Coastal Gujarat Power Limited - India
- Chettinad Cement Corporation Ltd - India
- CIMB Investment Bank - Malaysia
- Indogreen Group - Indonesia
- The Treasury - Australian Government
- Goldman Sachs - Singapore
- Kumho Petrochemical, South Korea
- Vizag Seaport Private Limited - India
- Tamil Nadu electricity Board
- South Luzon Thermal Energy Corporation
- Interocean Group of Companies - India
- Global Green Power PLC Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Jaiprakash Power Ventures ltd
- Orica Mining Services - Indonesia
- Intertek Mineral Services - Indonesia
- CNBM International Corporation - China
- Binh Thuan Hamico - Vietnam
- Leighton Contractors Pty Ltd - Australia
- Heidelberg Cement - Germany
- Kobexindo Tractors - Indoneisa
- Barasentosa Lestari - Indonesia
- Ministry of Transport, Egypt
- Australian Coal Association
- Australian Commodity Traders Exchange
- Rashtriya Ispat Nigam Limited - India
- Bhushan Steel Limited - India
- Gujarat Sidhee Cement - India
- Central Electricity Authority - India
- Iligan Light & Power Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Bulk Trading Sa - Switzerland
- Altura Mining Limited, Indonesia
- Global Coal Blending Company Limited - Australia
- Banpu Public Company Limited - Thailand
- Bayan Resources Tbk. - Indonesia
- Meralco Power Generation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Kepco SPC Power Corporation, Philippines
- Indonesian Coal Mining Association
- Indika Energy - Indonesia
- Sojitz Corporation - Japan
- AsiaOL BioFuels Corp., Philippines
- Star Paper Mills Limited - India
- Africa Commodities Group - South Africa
- SMC Global Power, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Borneo Indobara - Indonesia
- Kideco Jaya Agung - Indonesia
- Tata Chemicals Ltd - India
- Wood Mackenzie - Singapore
- OPG Power Generation Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Bhatia International Limited - India
- Madhucon Powers Ltd - India
- Mercator Lines Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Directorate Of Revenue Intelligence - India
- Electricity Authority, New Zealand
- Ministry of Mines - Canada
- Bahari Cakrawala Sebuku - Indonesia
- Coalindo Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Miang Besar Coal Terminal - Indonesia
- PowerSource Philippines DevCo
- European Bulk Services B.V. - Netherlands
- Lanco Infratech Ltd - India
- Central Java Power - Indonesia
- Sakthi Sugars Limited - India
- Mjunction Services Limited - India
- Straits Asia Resources Limited - Singapore
- Krishnapatnam Port Company Ltd. - India
- Marubeni Corporation - India
- Videocon Industries ltd - India
- Chamber of Mines of South Africa
- Mintek Dendrill Indonesia
- Power Finance Corporation Ltd., India
- SMG Consultants - Indonesia
- Salva Resources Pvt Ltd - India
- The University of Queensland
- Orica Australia Pty. Ltd.
- Renaissance Capital - South Africa
- Merrill Lynch Commodities Europe
- Sinarmas Energy and Mining - Indonesia
- Electricity Generating Authority of Thailand
- Indian Energy Exchange, India
- Vijayanagar Sugar Pvt Ltd - India
- New Zealand Coal & Carbon
- Pipit Mutiara Jaya. PT, Indonesia
- Larsen & Toubro Limited - India
- Indo Tambangraya Megah - Indonesia
- Romanian Commodities Exchange
- Minerals Council of Australia
- Global Business Power Corporation, Philippines
- Indian Oil Corporation Limited
- Commonwealth Bank - Australia
- Makarim & Taira - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- White Energy Company Limited
- PTC India Limited - India
- Essar Steel Hazira Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Malabar Cements Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sical Logistics Limited - India
- Riau Bara Harum - Indonesia
- Energy Development Corp, Philippines
- Grasim Industreis Ltd - India
- Rio Tinto Coal - Australia
- Directorate General of MIneral and Coal - Indonesia
- Samtan Co., Ltd - South Korea
- Carbofer General Trading SA - India
- Latin American Coal - Colombia
- Siam City Cement PLC, Thailand
- Semirara Mining and Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Siam City Cement - Thailand
- McConnell Dowell - Australia
- Alfred C Toepfer International GmbH - Germany
- Ambuja Cements Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Manunggal Multi Energi - Indonesia
- Xindia Steels Limited - India
- Wilmar Investment Holdings
- Petron Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Economic Council, Georgia
- Medco Energi Mining Internasional
- GAC Shipping (India) Pvt Ltd
- Agrawal Coal Company - India
- Mercuria Energy - Indonesia
- Port Waratah Coal Services - Australia
- Planning Commission, India
- Therma Luzon, Inc, Philippines
- Trasteel International SA, Italy
- Price Waterhouse Coopers - Russia
- Formosa Plastics Group - Taiwan
- Sindya Power Generating Company Private Ltd
- San Jose City I Power Corp, Philippines
- Meenaskhi Energy Private Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Asmin Koalindo Tuhup - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Posco Energy - South Korea
- Maharashtra Electricity Regulatory Commission - India
- International Coal Ventures Pvt Ltd - India
- Eastern Energy - Thailand
- GVK Power & Infra Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- Vedanta Resources Plc - India
- Baramulti Group, Indonesia
- Semirara Mining Corp, Philippines
- The State Trading Corporation of India Ltd
- Gujarat Mineral Development Corp Ltd - India
- Deloitte Consulting - India
- Billiton Holdings Pty Ltd - Australia
- IHS Mccloskey Coal Group - USA
- Anglo American - United Kingdom
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GMR Energy Limited - India
- Thiess Contractors Indonesia
- Bukit Baiduri Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Jindal Steel & Power Ltd - India
- Uttam Galva Steels Limited - India
- Dalmia Cement Bharat India
- Singapore Mercantile Exchange
- Savvy Resources Ltd - HongKong
- London Commodity Brokers - England
- PetroVietnam Power Coal Import and Supply Company
- VISA Power Limited - India
- Attock Cement Pakistan Limited
- Bharathi Cement Corporation - India
- ICICI Bank Limited - India
- Kartika Selabumi Mining - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Bukit Makmur.PT - Indonesia
- Bangladesh Power Developement Board
- Toyota Tsusho Corporation, Japan
- Holcim Trading Pte Ltd - Singapore
- India Bulls Power Limited - India
- Aditya Birla Group - India
- SN Aboitiz Power Inc, Philippines
- PNOC Exploration Corporation - Philippines
- MS Steel International - UAE
- Antam Resourcindo - Indonesia
- Edison Trading Spa - Italy
- ASAPP Information Group - India
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