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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, 01 May 20
LUKOIL SHARES LUBRICANT EXPERIENCE AFTER FIRST 100 DAYS OF OPERATION ON VLSFO
KNOWLEDGE TO ELEVATE
After 100 days of VLSFO operation, LUKOIL Marine Lubricants is sharing recent experience on VLSFO operation with NAVIGO M ...
Wednesday, 29 April 20
OIL CLOSES IN ON PEAK OVERSUPPLY - WOOD MACKENZIE
Are we now deep in the abyss? Up to our necks in it, if the oil price is any guide. Brent has now tested sub-US$20/bbl in this downturn and WTI sub ...
Monday, 27 April 20
INCIDENT INVESTIGATION: SEARCH FOR THE CAUSE, NOT THE VILLAIN - GARD
Incident investigations often conclude with placing the blame for an incident on the crew. Causes of the incidents are usually identified as proced ...
Monday, 27 April 20
A 58,000DWT VESSEL WAS FIXED DELIVERY SINGAPORE TRIP VIA INDONESIA, RE-DELIVERY WC INDIA, AT $4,500 - BALTIC BRIEFING
Capesize
The tide turned this week for the Capesize market, as voyage rates registered dramatically falling fuel costs. This was led primarily ...
Sunday, 26 April 20
STRONGER BUNKER PRICES FAIL TO RALLY FREIGHT MARKET - FIS
VLSFO bunker prices rebounded by $22.50 to $229/mt in the port of Singapore but failed to turn around the spot freight market.
Some ...
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- Ind-Barath Power Infra Limited - India
- TeaM Sual Corporation - Philippines
- Kaltim Prima Coal - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Binh Thuan Hamico - Vietnam
- ASAPP Information Group - India
- Madhucon Powers Ltd - India
- Sree Jayajothi Cements Limited - India
- Economic Council, Georgia
- Mercator Lines Limited - India
- Indonesian Coal Mining Association
- Rashtriya Ispat Nigam Limited - India
- Coalindo Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- IEA Clean Coal Centre - UK
- TNB Fuel Sdn Bhd - Malaysia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ambuja Cements Ltd - India
- Mjunction Services Limited - India
- Banpu Public Company Limited - Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Uttam Galva Steels Limited - India
- Commonwealth Bank - Australia
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- Sakthi Sugars Limited - India
- India Bulls Power Limited - India
- Metalloyd Limited - United Kingdom
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- Kumho Petrochemical, South Korea
- Ceylon Electricity Board - Sri Lanka
- Cigading International Bulk Terminal - Indonesia
- Romanian Commodities Exchange
- Sojitz Corporation - Japan
- SN Aboitiz Power Inc, Philippines
- Bangladesh Power Developement Board
- Heidelberg Cement - Germany
- Orica Australia Pty. Ltd.
- Thai Mozambique Logistica
- Medco Energi Mining Internasional
- Lanco Infratech Ltd - India
- Timah Investasi Mineral - Indoneisa
- Parliament of New Zealand
- Bharathi Cement Corporation - India
- Kohat Cement Company Ltd. - Pakistan
- Bukit Makmur.PT - Indonesia
- Iligan Light & Power Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Aditya Birla Group - India
- Bukit Asam (Persero) Tbk - Indonesia
- Bhatia International Limited - India
- Manunggal Multi Energi - Indonesia
- Oldendorff Carriers - Singapore
- Larsen & Toubro Limited - India
- Bayan Resources Tbk. - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Altura Mining Limited, Indonesia
- Interocean Group of Companies - India
- GMR Energy Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bhushan Steel Limited - India
- Thiess Contractors Indonesia
- Goldman Sachs - Singapore
- Videocon Industries ltd - India
- Vedanta Resources Plc - India
- European Bulk Services B.V. - Netherlands
- Samtan Co., Ltd - South Korea
- AsiaOL BioFuels Corp., Philippines
- Vizag Seaport Private Limited - India
- Power Finance Corporation Ltd., India
- Sical Logistics Limited - India
- Renaissance Capital - South Africa
- The Treasury - Australian Government
- White Energy Company Limited
- Makarim & Taira - Indonesia
- Central Java Power - Indonesia
- Star Paper Mills Limited - India
- CIMB Investment Bank - Malaysia
- Electricity Authority, New Zealand
- Singapore Mercantile Exchange
- Directorate Of Revenue Intelligence - India
- Ministry of Mines - Canada
- Eastern Coal Council - USA
- New Zealand Coal & Carbon
- Aboitiz Power Corporation - Philippines
- Baramulti Group, Indonesia
- Energy Development Corp, Philippines
- Indika Energy - Indonesia
- Gujarat Sidhee Cement - India
- Gujarat Electricity Regulatory Commission - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Ministry of Finance - Indonesia
- Petron Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Meenaskhi Energy Private Limited - India
- London Commodity Brokers - England
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Siam City Cement PLC, Thailand
- Global Business Power Corporation, Philippines
- Malabar Cements Ltd - India
- CNBM International Corporation - China
- The State Trading Corporation of India Ltd
- Orica Mining Services - Indonesia
- Maheswari Brothers Coal Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Edison Trading Spa - Italy
- Antam Resourcindo - Indonesia
- Port Waratah Coal Services - Australia
- Toyota Tsusho Corporation, Japan
- Trasteel International SA, Italy
- Salva Resources Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Bahari Cakrawala Sebuku - Indonesia
- Indian Oil Corporation Limited
- Formosa Plastics Group - Taiwan
- PTC India Limited - India
- Kideco Jaya Agung - Indonesia
- Sindya Power Generating Company Private Ltd
- Jaiprakash Power Ventures ltd
- Tata Chemicals Ltd - India
- Riau Bara Harum - Indonesia
- South Luzon Thermal Energy Corporation
- Straits Asia Resources Limited - Singapore
- Anglo American - United Kingdom
- Electricity Generating Authority of Thailand
- Jindal Steel & Power Ltd - India
- Bhoruka Overseas - Indonesia
- The University of Queensland
- Globalindo Alam Lestari - Indonesia
- GAC Shipping (India) Pvt Ltd
- Mercuria Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Attock Cement Pakistan Limited
- Petrochimia International Co. Ltd.- Taiwan
- Alfred C Toepfer International GmbH - Germany
- Directorate General of MIneral and Coal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Meralco Power Generation, Philippines
- Wood Mackenzie - Singapore
- VISA Power Limited - India
- Latin American Coal - Colombia
- Ministry of Transport, Egypt
- SMG Consultants - Indonesia
- Intertek Mineral Services - Indonesia
- Siam City Cement - Thailand
- Grasim Industreis Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Indian Energy Exchange, India
- Chamber of Mines of South Africa
- Kobexindo Tractors - Indoneisa
- GVK Power & Infra Limited - India
- Sarangani Energy Corporation, Philippines
- Coal and Oil Company - UAE
- Minerals Council of Australia
- Carbofer General Trading SA - India
- Independent Power Producers Association of India
- PetroVietnam Power Coal Import and Supply Company
- MS Steel International - UAE
- Mintek Dendrill Indonesia
- LBH Netherlands Bv - Netherlands
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Simpson Spence & Young - Indonesia
- Holcim Trading Pte Ltd - Singapore
- PowerSource Philippines DevCo
- San Jose City I Power Corp, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Australian Coal Association
- Pipit Mutiara Jaya. PT, Indonesia
- Standard Chartered Bank - UAE
- Planning Commission, India
- Kapuas Tunggal Persada - Indonesia
- Chettinad Cement Corporation Ltd - India
- Energy Link Ltd, New Zealand
- Indogreen Group - Indonesia
- Wilmar Investment Holdings
- Global Coal Blending Company Limited - Australia
- OPG Power Generation Pvt Ltd - India
- McConnell Dowell - Australia
- Price Waterhouse Coopers - Russia
- Coastal Gujarat Power Limited - India
- Global Green Power PLC Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Karaikal Port Pvt Ltd - India
- Rio Tinto Coal - Australia
- Cement Manufacturers Association - India
- ICICI Bank Limited - India
- Savvy Resources Ltd - HongKong
- Essar Steel Hazira Ltd - India
- Marubeni Corporation - India
- Kepco SPC Power Corporation, Philippines
- Australian Commodity Traders Exchange
- Dalmia Cement Bharat India
- Agrawal Coal Company - India
- PNOC Exploration Corporation - Philippines
- Borneo Indobara - Indonesia
- SMC Global Power, Philippines
- Tamil Nadu electricity Board
- Georgia Ports Authority, United States
- International Coal Ventures Pvt Ltd - India
- Deloitte Consulting - India
- Krishnapatnam Port Company Ltd. - India
- Central Electricity Authority - India
- Barasentosa Lestari - Indonesia
- Parry Sugars Refinery, India
- Posco Energy - South Korea
- Karbindo Abesyapradhi - Indoneisa
- GN Power Mariveles Coal Plant, Philippines
- Leighton Contractors Pty Ltd - Australia
- Eastern Energy - Thailand
- Semirara Mining and Power Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Merrill Lynch Commodities Europe
- Vijayanagar Sugar Pvt Ltd - India
- Semirara Mining Corp, Philippines
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