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