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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, 08 May 20
THE COLLAPSE OF THE OIL AND BUNKER FUEL MARKETS IN EARLY 2020 - PETER SAND
The sulphur regulation from the International Maritime Organization (IMO) that came into force on 1 January 2020 took the centre stage in the shipp ...
Friday, 08 May 20
LNG DEMAND FACED SEVERAL HEADWINDS IN THE FIRST QUARTER OF 2020 - GASLOG
LNG demand faced several headwinds in the first quarter of 2020 including a warmer than average winter in the northern hemisphere, high inventory l ...
Thursday, 07 May 20
IEEFA UPDATE: THE OUTLOOK FOR THERMAL COAL IN SOUTHEAST ASIA AND SOUTH ASIA
Seven headwinds are building to sustained growth in coal in Asia
The medium term outlook for thermal coal in Southeast Asia is posit ...
Thursday, 07 May 20
IMO 2020: BUNKER CLAIMS HANDLING GUIDE FOR A NEW DECADE - THE STANDARD CLUB
KNOWLEDGE TO ELEVATE
IMO 2020 is the term generally used to describe the following regulations under Annex VI of the International Convention ...
Thursday, 07 May 20
CRUDE OIL TANKER EARNINGS DROP 68% IN NINE DAYS - BIMCO
Crude oil tanker earnings have come down sharply in recent weeks with Very Large Crude Carrier (VLCC) earnings from the Middle East Gulf to China d ...
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- Meralco Power Generation, Philippines
- Intertek Mineral Services - Indonesia
- The University of Queensland
- Standard Chartered Bank - UAE
- Borneo Indobara - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Sarangani Energy Corporation, Philippines
- Oldendorff Carriers - Singapore
- Mercator Lines Limited - India
- Madhucon Powers Ltd - India
- Attock Cement Pakistan Limited
- Offshore Bulk Terminal Pte Ltd, Singapore
- Siam City Cement - Thailand
- Videocon Industries ltd - India
- Chettinad Cement Corporation Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Pendopo Energi Batubara - Indonesia
- Georgia Ports Authority, United States
- Australian Commodity Traders Exchange
- Indian Oil Corporation Limited
- Krishnapatnam Port Company Ltd. - India
- Mintek Dendrill Indonesia
- Coastal Gujarat Power Limited - India
- Goldman Sachs - Singapore
- Baramulti Group, Indonesia
- Independent Power Producers Association of India
- Rashtriya Ispat Nigam Limited - India
- Timah Investasi Mineral - Indoneisa
- GVK Power & Infra Limited - India
- Port Waratah Coal Services - Australia
- Edison Trading Spa - Italy
- Formosa Plastics Group - Taiwan
- Medco Energi Mining Internasional
- GMR Energy Limited - India
- VISA Power Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Energy Link Ltd, New Zealand
- Kobexindo Tractors - Indoneisa
- The State Trading Corporation of India Ltd
- London Commodity Brokers - England
- Ministry of Mines - Canada
- Merrill Lynch Commodities Europe
- Mjunction Services Limited - India
- Planning Commission, India
- Electricity Generating Authority of Thailand
- Tata Chemicals Ltd - India
- Grasim Industreis Ltd - India
- Parry Sugars Refinery, India
- Vijayanagar Sugar Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indonesian Coal Mining Association
- Orica Australia Pty. Ltd.
- Essar Steel Hazira Ltd - India
- Agrawal Coal Company - India
- Miang Besar Coal Terminal - Indonesia
- Xindia Steels Limited - India
- Semirara Mining and Power Corporation, Philippines
- Global Business Power Corporation, Philippines
- IEA Clean Coal Centre - UK
- Indian Energy Exchange, India
- Kaltim Prima Coal - Indonesia
- Trasteel International SA, Italy
- Directorate General of MIneral and Coal - Indonesia
- Ambuja Cements Ltd - India
- Salva Resources Pvt Ltd - India
- Ministry of Transport, Egypt
- GAC Shipping (India) Pvt Ltd
- Commonwealth Bank - Australia
- McConnell Dowell - Australia
- Kideco Jaya Agung - Indonesia
- Barasentosa Lestari - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Petron Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Vedanta Resources Plc - India
- Asmin Koalindo Tuhup - Indonesia
- Bukit Baiduri Energy - Indonesia
- Power Finance Corporation Ltd., India
- Vizag Seaport Private Limited - India
- Malabar Cements Ltd - India
- Bangladesh Power Developement Board
- New Zealand Coal & Carbon
- SN Aboitiz Power Inc, Philippines
- Heidelberg Cement - Germany
- White Energy Company Limited
- Bayan Resources Tbk. - Indonesia
- Price Waterhouse Coopers - Russia
- Semirara Mining Corp, Philippines
- Sical Logistics Limited - India
- Singapore Mercantile Exchange
- Indika Energy - Indonesia
- Parliament of New Zealand
- Central Electricity Authority - India
- International Coal Ventures Pvt Ltd - India
- Interocean Group of Companies - India
- Coal and Oil Company - UAE
- Gujarat Sidhee Cement - India
- Kepco SPC Power Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Energy Development Corp, Philippines
- Central Java Power - Indonesia
- Carbofer General Trading SA - India
- Jorong Barutama Greston.PT - Indonesia
- Straits Asia Resources Limited - Singapore
- PowerSource Philippines DevCo
- Dalmia Cement Bharat India
- SMG Consultants - Indonesia
- SMC Global Power, Philippines
- Orica Mining Services - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Karaikal Port Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- ICICI Bank Limited - India
- Bharathi Cement Corporation - India
- LBH Netherlands Bv - Netherlands
- Ministry of Finance - Indonesia
- South Luzon Thermal Energy Corporation
- San Jose City I Power Corp, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Electricity Authority, New Zealand
- Kalimantan Lumbung Energi - Indonesia
- Iligan Light & Power Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- MS Steel International - UAE
- Sinarmas Energy and Mining - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Ind-Barath Power Infra Limited - India
- Global Coal Blending Company Limited - Australia
- TeaM Sual Corporation - Philippines
- Bukit Makmur.PT - Indonesia
- Kartika Selabumi Mining - Indonesia
- Binh Thuan Hamico - Vietnam
- Economic Council, Georgia
- Makarim & Taira - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Sindya Power Generating Company Private Ltd
- Africa Commodities Group - South Africa
- Deloitte Consulting - India
- Marubeni Corporation - India
- Aditya Birla Group - India
- Kapuas Tunggal Persada - Indonesia
- IHS Mccloskey Coal Group - USA
- Antam Resourcindo - Indonesia
- Bhoruka Overseas - Indonesia
- PNOC Exploration Corporation - Philippines
- ASAPP Information Group - India
- CIMB Investment Bank - Malaysia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sojitz Corporation - Japan
- Cement Manufacturers Association - India
- European Bulk Services B.V. - Netherlands
- Wilmar Investment Holdings
- Therma Luzon, Inc, Philippines
- Posco Energy - South Korea
- Renaissance Capital - South Africa
- Bulk Trading Sa - Switzerland
- Bukit Asam (Persero) Tbk - Indonesia
- Chamber of Mines of South Africa
- AsiaOL BioFuels Corp., Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Petrochimia International Co. Ltd.- Taiwan
- Indogreen Group - Indonesia
- Australian Coal Association
- Romanian Commodities Exchange
- PTC India Limited - India
- Cigading International Bulk Terminal - Indonesia
- Sree Jayajothi Cements Limited - India
- Savvy Resources Ltd - HongKong
- Jaiprakash Power Ventures ltd
- Altura Mining Limited, Indonesia
- Banpu Public Company Limited - Thailand
- Larsen & Toubro Limited - India
- CNBM International Corporation - China
- Lanco Infratech Ltd - India
- Samtan Co., Ltd - South Korea
- Riau Bara Harum - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Globalindo Alam Lestari - Indonesia
- Aboitiz Power Corporation - Philippines
- Sakthi Sugars Limited - India
- Bhushan Steel Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Kohat Cement Company Ltd. - Pakistan
- Indo Tambangraya Megah - Indonesia
- The Treasury - Australian Government
- Toyota Tsusho Corporation, Japan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mercuria Energy - Indonesia
- Rio Tinto Coal - Australia
- Metalloyd Limited - United Kingdom
- Bhatia International Limited - India
- Tamil Nadu electricity Board
- Coalindo Energy - Indonesia
- Star Paper Mills Limited - India
- Thiess Contractors Indonesia
- Meenaskhi Energy Private Limited - India
- Siam City Cement PLC, Thailand
- Maheswari Brothers Coal Limited - India
- Manunggal Multi Energi - Indonesia
- India Bulls Power Limited - India
- Uttam Galva Steels Limited - India
- Minerals Council of Australia
- Eastern Coal Council - USA
- Maharashtra Electricity Regulatory Commission - India
- Thai Mozambique Logistica
- Wood Mackenzie - Singapore
- Simpson Spence & Young - Indonesia
- Anglo American - United Kingdom
- Global Green Power PLC Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Holcim Trading Pte Ltd - Singapore
- Latin American Coal - Colombia
- Eastern Energy - Thailand
- Kumho Petrochemical, South Korea
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