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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, 20 March 20
VOLATILITY TO INCREASE IN TANKER MARKET FOLLOWING OIL PRICE WAR - DREWRY
Crude oil prices plunged by more than a third in the past week after OPEC+ failed to agree on production cut as demand softened in the aftermath of ...
Friday, 20 March 20
CHINA'S BENCHMARK POWER COAL PRICE DROPS SLIGHTLY - XINHUA
China’s benchmark power coal price dropped slightly during the past week.
The Bohai-Rim Steam-Coal Price Index (BSPI), a gauge ...
Friday, 20 March 20
OIL PRICES COULD FALL BELOW ZERO: ANALYST - FOX BUSINESS
Plunging oil prices could be headed a lot lower – possibly below zero, according to one Wall Street analyst.
West Texas Interm ...
Friday, 20 March 20
84% OF FEBRUARY BUNKER SALES IN SINGAPORE ARE LOW-SULPHUR FUELS - BIMCO
Low-sulphur fuels accounted for 84% of total February sales in Singapore, slightly up from 83% in January. The sale of low-sulphur fuel oil (LSFO) ...
Thursday, 19 March 20
A CRUDE TSUNAMI: UP TO 3 MILLION BPD OF EXTRA OIL CAN HIT THE MARKET FROM APRIL, MORE COMING IN MAY - RYSTAD ENERGY
The extra oil coming into the global market from April will be as much as 3 million barrels per day (bpd), Rystad Energy estimates. Two million bpd ...
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- Ind-Barath Power Infra Limited - India
- Intertek Mineral Services - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- CIMB Investment Bank - Malaysia
- Maheswari Brothers Coal Limited - India
- White Energy Company Limited
- Renaissance Capital - South Africa
- Gujarat Mineral Development Corp Ltd - India
- Indika Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Bhushan Steel Limited - India
- Tamil Nadu electricity Board
- Meralco Power Generation, Philippines
- Thiess Contractors Indonesia
- Grasim Industreis Ltd - India
- Directorate Of Revenue Intelligence - India
- Metalloyd Limited - United Kingdom
- Economic Council, Georgia
- Gujarat Electricity Regulatory Commission - India
- Oldendorff Carriers - Singapore
- Eastern Energy - Thailand
- Goldman Sachs - Singapore
- Mercuria Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Energy Development Corp, Philippines
- Price Waterhouse Coopers - Russia
- Deloitte Consulting - India
- OPG Power Generation Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Iligan Light & Power Inc, Philippines
- Bangladesh Power Developement Board
- Sakthi Sugars Limited - India
- McConnell Dowell - Australia
- Coalindo Energy - Indonesia
- Power Finance Corporation Ltd., India
- Aditya Birla Group - India
- Central Java Power - Indonesia
- TeaM Sual Corporation - Philippines
- Chettinad Cement Corporation Ltd - India
- Heidelberg Cement - Germany
- Globalindo Alam Lestari - Indonesia
- Baramulti Group, Indonesia
- Interocean Group of Companies - India
- Mintek Dendrill Indonesia
- Anglo American - United Kingdom
- Kaltim Prima Coal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Parry Sugars Refinery, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sinarmas Energy and Mining - Indonesia
- Essar Steel Hazira Ltd - India
- Pendopo Energi Batubara - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Orica Mining Services - Indonesia
- Straits Asia Resources Limited - Singapore
- Coal and Oil Company - UAE
- Bayan Resources Tbk. - Indonesia
- Karaikal Port Pvt Ltd - India
- Cement Manufacturers Association - India
- Karbindo Abesyapradhi - Indoneisa
- Mercator Lines Limited - India
- Banpu Public Company Limited - Thailand
- Directorate General of MIneral and Coal - Indonesia
- SMG Consultants - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Planning Commission, India
- Petrochimia International Co. Ltd.- Taiwan
- Australian Coal Association
- Ambuja Cements Ltd - India
- Meenaskhi Energy Private Limited - India
- Indonesian Coal Mining Association
- Bhatia International Limited - India
- Latin American Coal - Colombia
- Indian Oil Corporation Limited
- The Treasury - Australian Government
- Petron Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Uttam Galva Steels Limited - India
- Vedanta Resources Plc - India
- Asmin Koalindo Tuhup - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Agrawal Coal Company - India
- Bhoruka Overseas - Indonesia
- CNBM International Corporation - China
- Commonwealth Bank - Australia
- Bukit Baiduri Energy - Indonesia
- Orica Australia Pty. Ltd.
- Bank of Tokyo Mitsubishi UFJ Ltd
- ASAPP Information Group - India
- Sarangani Energy Corporation, Philippines
- PTC India Limited - India
- Sindya Power Generating Company Private Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Posco Energy - South Korea
- PowerSource Philippines DevCo
- Singapore Mercantile Exchange
- Bukit Makmur.PT - Indonesia
- IEA Clean Coal Centre - UK
- AsiaOL BioFuels Corp., Philippines
- Medco Energi Mining Internasional
- Savvy Resources Ltd - HongKong
- SN Aboitiz Power Inc, Philippines
- Thai Mozambique Logistica
- Wood Mackenzie - Singapore
- Minerals Council of Australia
- Riau Bara Harum - Indonesia
- Sree Jayajothi Cements Limited - India
- San Jose City I Power Corp, Philippines
- India Bulls Power Limited - India
- Standard Chartered Bank - UAE
- Georgia Ports Authority, United States
- Siam City Cement - Thailand
- ICICI Bank Limited - India
- Jindal Steel & Power Ltd - India
- Rio Tinto Coal - Australia
- London Commodity Brokers - England
- Eastern Coal Council - USA
- Star Paper Mills Limited - India
- Kobexindo Tractors - Indoneisa
- Electricity Generating Authority of Thailand
- Leighton Contractors Pty Ltd - Australia
- Kalimantan Lumbung Energi - Indonesia
- Timah Investasi Mineral - Indoneisa
- Energy Link Ltd, New Zealand
- Africa Commodities Group - South Africa
- Aboitiz Power Corporation - Philippines
- Salva Resources Pvt Ltd - India
- Makarim & Taira - Indonesia
- Formosa Plastics Group - Taiwan
- Merrill Lynch Commodities Europe
- Mjunction Services Limited - India
- Coastal Gujarat Power Limited - India
- Manunggal Multi Energi - Indonesia
- Global Coal Blending Company Limited - Australia
- Barasentosa Lestari - Indonesia
- Sical Logistics Limited - India
- Simpson Spence & Young - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- GAC Shipping (India) Pvt Ltd
- Jaiprakash Power Ventures ltd
- GN Power Mariveles Coal Plant, Philippines
- Rashtriya Ispat Nigam Limited - India
- GMR Energy Limited - India
- Dalmia Cement Bharat India
- Tata Chemicals Ltd - India
- Ministry of Mines - Canada
- Kartika Selabumi Mining - Indonesia
- Sojitz Corporation - Japan
- Lanco Infratech Ltd - India
- Indian Energy Exchange, India
- Independent Power Producers Association of India
- Trasteel International SA, Italy
- TNB Fuel Sdn Bhd - Malaysia
- Port Waratah Coal Services - Australia
- Ministry of Transport, Egypt
- MS Steel International - UAE
- Altura Mining Limited, Indonesia
- Miang Besar Coal Terminal - Indonesia
- Toyota Tsusho Corporation, Japan
- Larsen & Toubro Limited - India
- LBH Netherlands Bv - Netherlands
- Bukit Asam (Persero) Tbk - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bharathi Cement Corporation - India
- Kohat Cement Company Ltd. - Pakistan
- Electricity Authority, New Zealand
- Edison Trading Spa - Italy
- Videocon Industries ltd - India
- IHS Mccloskey Coal Group - USA
- Semirara Mining and Power Corporation, Philippines
- Attock Cement Pakistan Limited
- PetroVietnam Power Coal Import and Supply Company
- Madhucon Powers Ltd - India
- Bulk Trading Sa - Switzerland
- Parliament of New Zealand
- Therma Luzon, Inc, Philippines
- PNOC Exploration Corporation - Philippines
- Marubeni Corporation - India
- New Zealand Coal & Carbon
- GVK Power & Infra Limited - India
- Carbofer General Trading SA - India
- Vijayanagar Sugar Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Xindia Steels Limited - India
- VISA Power Limited - India
- Ministry of Finance - Indonesia
- Romanian Commodities Exchange
- Antam Resourcindo - Indonesia
- Australian Commodity Traders Exchange
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Jorong Barutama Greston.PT - Indonesia
- Borneo Indobara - Indonesia
- Samtan Co., Ltd - South Korea
- Cigading International Bulk Terminal - Indonesia
- Chamber of Mines of South Africa
- The State Trading Corporation of India Ltd
- Binh Thuan Hamico - Vietnam
- Kumho Petrochemical, South Korea
- Alfred C Toepfer International GmbH - Germany
- The University of Queensland
- Indogreen Group - Indonesia
- Central Electricity Authority - India
- Siam City Cement PLC, Thailand
- Indo Tambangraya Megah - Indonesia
- Vizag Seaport Private Limited - India
- Gujarat Sidhee Cement - India
- SMC Global Power, Philippines
- Semirara Mining Corp, Philippines
- Malabar Cements Ltd - India
- Kideco Jaya Agung - Indonesia
- Wilmar Investment Holdings
- Global Business Power Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
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