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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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- CIMB Investment Bank - Malaysia
- Oldendorff Carriers - Singapore
- Straits Asia Resources Limited - Singapore
- Wood Mackenzie - Singapore
- Electricity Authority, New Zealand
- Independent Power Producers Association of India
- Kapuas Tunggal Persada - Indonesia
- Krishnapatnam Port Company Ltd. - India
- ASAPP Information Group - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Central Electricity Authority - India
- Thai Mozambique Logistica
- Kumho Petrochemical, South Korea
- SN Aboitiz Power Inc, Philippines
- Madhucon Powers Ltd - India
- Formosa Plastics Group - Taiwan
- Banpu Public Company Limited - Thailand
- Salva Resources Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Sical Logistics Limited - India
- Australian Coal Association
- Toyota Tsusho Corporation, Japan
- Kaltim Prima Coal - Indonesia
- Price Waterhouse Coopers - Russia
- McConnell Dowell - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- San Jose City I Power Corp, Philippines
- Australian Commodity Traders Exchange
- CNBM International Corporation - China
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mjunction Services Limited - India
- Asmin Koalindo Tuhup - Indonesia
- White Energy Company Limited
- Parliament of New Zealand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Pipit Mutiara Jaya. PT, Indonesia
- Chamber of Mines of South Africa
- Kalimantan Lumbung Energi - Indonesia
- Globalindo Alam Lestari - Indonesia
- Star Paper Mills Limited - India
- Kepco SPC Power Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- ICICI Bank Limited - India
- Indo Tambangraya Megah - Indonesia
- Vizag Seaport Private Limited - India
- Trasteel International SA, Italy
- Bangladesh Power Developement Board
- Bukit Makmur.PT - Indonesia
- Agrawal Coal Company - India
- Ceylon Electricity Board - Sri Lanka
- European Bulk Services B.V. - Netherlands
- Georgia Ports Authority, United States
- Global Coal Blending Company Limited - Australia
- Sinarmas Energy and Mining - Indonesia
- Kideco Jaya Agung - Indonesia
- Metalloyd Limited - United Kingdom
- Siam City Cement - Thailand
- Wilmar Investment Holdings
- Vedanta Resources Plc - India
- AsiaOL BioFuels Corp., Philippines
- Riau Bara Harum - Indonesia
- Planning Commission, India
- Neyveli Lignite Corporation Ltd, - India
- PTC India Limited - India
- Posco Energy - South Korea
- Tata Chemicals Ltd - India
- Makarim & Taira - Indonesia
- Mercuria Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Central Java Power - Indonesia
- Xindia Steels Limited - India
- Parry Sugars Refinery, India
- Mintek Dendrill Indonesia
- Marubeni Corporation - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Jaiprakash Power Ventures ltd
- Larsen & Toubro Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- SMC Global Power, Philippines
- GAC Shipping (India) Pvt Ltd
- Merrill Lynch Commodities Europe
- MS Steel International - UAE
- Africa Commodities Group - South Africa
- LBH Netherlands Bv - Netherlands
- Altura Mining Limited, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Intertek Mineral Services - Indonesia
- Mercator Lines Limited - India
- Indian Energy Exchange, India
- Binh Thuan Hamico - Vietnam
- Gujarat Sidhee Cement - India
- Kohat Cement Company Ltd. - Pakistan
- Romanian Commodities Exchange
- Sakthi Sugars Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Electricity Generating Authority of Thailand
- Port Waratah Coal Services - Australia
- Thiess Contractors Indonesia
- India Bulls Power Limited - India
- IHS Mccloskey Coal Group - USA
- The State Trading Corporation of India Ltd
- Commonwealth Bank - Australia
- New Zealand Coal & Carbon
- Kobexindo Tractors - Indoneisa
- Semirara Mining and Power Corporation, Philippines
- Uttam Galva Steels Limited - India
- Bayan Resources Tbk. - Indonesia
- Antam Resourcindo - Indonesia
- Sarangani Energy Corporation, Philippines
- Borneo Indobara - Indonesia
- Coastal Gujarat Power Limited - India
- Holcim Trading Pte Ltd - Singapore
- Energy Link Ltd, New Zealand
- Bahari Cakrawala Sebuku - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Meralco Power Generation, Philippines
- Ministry of Transport, Egypt
- Renaissance Capital - South Africa
- Meenaskhi Energy Private Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Coalindo Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- OPG Power Generation Pvt Ltd - India
- Sojitz Corporation - Japan
- Aditya Birla Group - India
- Maheswari Brothers Coal Limited - India
- SMG Consultants - Indonesia
- Edison Trading Spa - Italy
- Asia Pacific Energy Resources Ventures Inc, Philippines
- TeaM Sual Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- Energy Development Corp, Philippines
- Goldman Sachs - Singapore
- Iligan Light & Power Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Indian Oil Corporation Limited
- Heidelberg Cement - Germany
- PowerSource Philippines DevCo
- Pendopo Energi Batubara - Indonesia
- Interocean Group of Companies - India
- Essar Steel Hazira Ltd - India
- Samtan Co., Ltd - South Korea
- Orica Australia Pty. Ltd.
- Orica Mining Services - Indonesia
- Minerals Council of Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Eastern Coal Council - USA
- Singapore Mercantile Exchange
- Attock Cement Pakistan Limited
- Indonesian Coal Mining Association
- Indika Energy - Indonesia
- South Luzon Thermal Energy Corporation
- PetroVietnam Power Coal Import and Supply Company
- Eastern Energy - Thailand
- Grasim Industreis Ltd - India
- Tamil Nadu electricity Board
- Cement Manufacturers Association - India
- Bulk Trading Sa - Switzerland
- Ministry of Finance - Indonesia
- Lanco Infratech Ltd - India
- Malabar Cements Ltd - India
- Simpson Spence & Young - Indonesia
- The Treasury - Australian Government
- VISA Power Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- The University of Queensland
- Anglo American - United Kingdom
- Power Finance Corporation Ltd., India
- Timah Investasi Mineral - Indoneisa
- GVK Power & Infra Limited - India
- Leighton Contractors Pty Ltd - Australia
- Sindya Power Generating Company Private Ltd
- Karaikal Port Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Bharathi Cement Corporation - India
- Rio Tinto Coal - Australia
- Ministry of Mines - Canada
- Medco Energi Mining Internasional
- Maharashtra Electricity Regulatory Commission - India
- Carbofer General Trading SA - India
- Aboitiz Power Corporation - Philippines
- Global Green Power PLC Corporation, Philippines
- Indogreen Group - Indonesia
- Global Business Power Corporation, Philippines
- IEA Clean Coal Centre - UK
- Siam City Cement PLC, Thailand
- Bhatia International Limited - India
- Miang Besar Coal Terminal - Indonesia
- Economic Council, Georgia
- Jindal Steel & Power Ltd - India
- Videocon Industries ltd - India
- Latin American Coal - Colombia
- GMR Energy Limited - India
- Bhoruka Overseas - Indonesia
- Bhushan Steel Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Coal and Oil Company - UAE
- Savvy Resources Ltd - HongKong
- International Coal Ventures Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Ind-Barath Power Infra Limited - India
- Dalmia Cement Bharat India
- Rashtriya Ispat Nigam Limited - India
- Kartika Selabumi Mining - Indonesia
- Standard Chartered Bank - UAE
- Deloitte Consulting - India
- Bukit Baiduri Energy - Indonesia
- Ambuja Cements Ltd - India
- Therma Luzon, Inc, Philippines
- Petron Corporation, Philippines
- Baramulti Group, Indonesia
- Chettinad Cement Corporation Ltd - India
- Semirara Mining Corp, Philippines
- London Commodity Brokers - England
- PNOC Exploration Corporation - Philippines
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