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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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Tuesday, 17 March 20
IT IS NOW UNQUESTIONABLE THAT 2020 WILL BE A MILESTONE YEAR FOR THE OIL MARKET, AS WELL AS THE WHOLE GLOBAL ECONOMY - ALLIED
It is now unquestionable that 2020 will be a milestone year for the oil market, as well as the whole global economy. The impact from the COVID-19 o ...
Tuesday, 17 March 20
PRELIMINARY FIELD EXPERIENCES ON THE EFFECTS OF LSFO AND VLSFO ON CYLINDER CONDITION - HANS JENSEN LUBRICATORS
It is now more than two months since the 0.5% sulphur cap entered into force, which have affected the operation of more than 70,000 vessels. As ant ...
Monday, 16 March 20
ULTRAMAX: S8 INDONESIA-INDIA AND S10 INDONESIA-CHINA ROUTES BOTH POSTED GAINS OF $1,412, AND $1,289 ON THE WEEK, TO CLOSE AT $5,575, AND $6,089 RESPECTIVELY - BALTIC BRIEFING
Capesize
The Capesize market came to work on Monday, with little expectation, or confidence, that the days ahead were going to bring anything o ...
Sunday, 15 March 20
CAPTIVE COAL OUTPUT RISES 19% IN APRIL-FEBRUARY - FINANCIAL EXPRESS
Coal production from captive mines in the first eleven months of the ongoing fiscal have increased by 18.8% year-on-year (y-o-y) to 51.7 million to ...
Friday, 13 March 20
PANAMAX: SLIGHTLY STRONGER NUMBERS IN BOTH BASINS THIS WEEK - FEARNLEYS
Cape
Still very sad times for the big ships, and merit in further trading at present levels is highly debatable for most tonnage. Spot fixtures ...
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- Bukit Makmur.PT - Indonesia
- Makarim & Taira - Indonesia
- Madhucon Powers Ltd - India
- Bulk Trading Sa - Switzerland
- Mercator Lines Limited - India
- Posco Energy - South Korea
- Planning Commission, India
- Attock Cement Pakistan Limited
- Aditya Birla Group - India
- Economic Council, Georgia
- Vedanta Resources Plc - India
- Vizag Seaport Private Limited - India
- Kobexindo Tractors - Indoneisa
- London Commodity Brokers - England
- Grasim Industreis Ltd - India
- SN Aboitiz Power Inc, Philippines
- Heidelberg Cement - Germany
- Eastern Coal Council - USA
- Minerals Council of Australia
- Salva Resources Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Jindal Steel & Power Ltd - India
- Rio Tinto Coal - Australia
- Globalindo Alam Lestari - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Lanco Infratech Ltd - India
- Miang Besar Coal Terminal - Indonesia
- CIMB Investment Bank - Malaysia
- Bhoruka Overseas - Indonesia
- Sree Jayajothi Cements Limited - India
- Indika Energy - Indonesia
- Mintek Dendrill Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Electricity Generating Authority of Thailand
- Thiess Contractors Indonesia
- Anglo American - United Kingdom
- Kartika Selabumi Mining - Indonesia
- Electricity Authority, New Zealand
- Kideco Jaya Agung - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Metalloyd Limited - United Kingdom
- Billiton Holdings Pty Ltd - Australia
- Malabar Cements Ltd - India
- Global Green Power PLC Corporation, Philippines
- Indian Energy Exchange, India
- Marubeni Corporation - India
- Petrochimia International Co. Ltd.- Taiwan
- Meralco Power Generation, Philippines
- Essar Steel Hazira Ltd - India
- Global Coal Blending Company Limited - Australia
- Sarangani Energy Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Rashtriya Ispat Nigam Limited - India
- Parry Sugars Refinery, India
- Interocean Group of Companies - India
- Sindya Power Generating Company Private Ltd
- Latin American Coal - Colombia
- Bahari Cakrawala Sebuku - Indonesia
- Romanian Commodities Exchange
- Kapuas Tunggal Persada - Indonesia
- New Zealand Coal & Carbon
- Mercuria Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Therma Luzon, Inc, Philippines
- ASAPP Information Group - India
- Deloitte Consulting - India
- Port Waratah Coal Services - Australia
- PetroVietnam Power Coal Import and Supply Company
- Bukit Asam (Persero) Tbk - Indonesia
- ICICI Bank Limited - India
- Ind-Barath Power Infra Limited - India
- Semirara Mining and Power Corporation, Philippines
- Standard Chartered Bank - UAE
- Larsen & Toubro Limited - India
- GAC Shipping (India) Pvt Ltd
- Sical Logistics Limited - India
- Wood Mackenzie - Singapore
- Timah Investasi Mineral - Indoneisa
- San Jose City I Power Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Agrawal Coal Company - India
- Renaissance Capital - South Africa
- Mjunction Services Limited - India
- Merrill Lynch Commodities Europe
- Gujarat Electricity Regulatory Commission - India
- Coalindo Energy - Indonesia
- Star Paper Mills Limited - India
- Alfred C Toepfer International GmbH - Germany
- Ambuja Cements Ltd - India
- Singapore Mercantile Exchange
- Wilmar Investment Holdings
- The State Trading Corporation of India Ltd
- Directorate Of Revenue Intelligence - India
- Savvy Resources Ltd - HongKong
- Ministry of Finance - Indonesia
- Samtan Co., Ltd - South Korea
- Siam City Cement PLC, Thailand
- Coastal Gujarat Power Limited - India
- India Bulls Power Limited - India
- European Bulk Services B.V. - Netherlands
- Borneo Indobara - Indonesia
- Meenaskhi Energy Private Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Edison Trading Spa - Italy
- LBH Netherlands Bv - Netherlands
- Georgia Ports Authority, United States
- TNB Fuel Sdn Bhd - Malaysia
- Africa Commodities Group - South Africa
- Ministry of Transport, Egypt
- SMG Consultants - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Tamil Nadu electricity Board
- Baramulti Group, Indonesia
- International Coal Ventures Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Uttam Galva Steels Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bangladesh Power Developement Board
- IEA Clean Coal Centre - UK
- Kumho Petrochemical, South Korea
- Price Waterhouse Coopers - Russia
- Aboitiz Power Corporation - Philippines
- Iligan Light & Power Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Bhatia International Limited - India
- Videocon Industries ltd - India
- Bharathi Cement Corporation - India
- The University of Queensland
- GVK Power & Infra Limited - India
- PowerSource Philippines DevCo
- Krishnapatnam Port Company Ltd. - India
- GMR Energy Limited - India
- Indogreen Group - Indonesia
- Medco Energi Mining Internasional
- Kepco SPC Power Corporation, Philippines
- Orica Australia Pty. Ltd.
- Maheswari Brothers Coal Limited - India
- Cement Manufacturers Association - India
- Indian Oil Corporation Limited
- Goldman Sachs - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Siam City Cement - Thailand
- GN Power Mariveles Coal Plant, Philippines
- Pendopo Energi Batubara - Indonesia
- Tata Chemicals Ltd - India
- Dalmia Cement Bharat India
- Carbofer General Trading SA - India
- Semirara Mining Corp, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Chettinad Cement Corporation Ltd - India
- Global Business Power Corporation, Philippines
- Independent Power Producers Association of India
- OPG Power Generation Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Energy Link Ltd, New Zealand
- Sakthi Sugars Limited - India
- Parliament of New Zealand
- MS Steel International - UAE
- Thai Mozambique Logistica
- Banpu Public Company Limited - Thailand
- Energy Development Corp, Philippines
- Barasentosa Lestari - Indonesia
- Gujarat Sidhee Cement - India
- Karaikal Port Pvt Ltd - India
- Indonesian Coal Mining Association
- VISA Power Limited - India
- Toyota Tsusho Corporation, Japan
- SMC Global Power, Philippines
- Binh Thuan Hamico - Vietnam
- Sojitz Corporation - Japan
- Central Electricity Authority - India
- Ministry of Mines - Canada
- Coal and Oil Company - UAE
- Orica Mining Services - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Vijayanagar Sugar Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- South Luzon Thermal Energy Corporation
- PTC India Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- The Treasury - Australian Government
- Chamber of Mines of South Africa
- Cigading International Bulk Terminal - Indonesia
- Central Java Power - Indonesia
- Bhushan Steel Limited - India
- Xindia Steels Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Riau Bara Harum - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Australian Commodity Traders Exchange
- Power Finance Corporation Ltd., India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- White Energy Company Limited
- Sinarmas Energy and Mining - Indonesia
- McConnell Dowell - Australia
- Antam Resourcindo - Indonesia
- Simpson Spence & Young - Indonesia
- Oldendorff Carriers - Singapore
- Formosa Plastics Group - Taiwan
- Manunggal Multi Energi - Indonesia
- Indo Tambangraya Megah - Indonesia
- Eastern Energy - Thailand
- AsiaOL BioFuels Corp., Philippines
- Australian Coal Association
- Trasteel International SA, Italy
- Straits Asia Resources Limited - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Jaiprakash Power Ventures ltd
- Commonwealth Bank - Australia
- Petron Corporation, Philippines
- CNBM International Corporation - China
- TeaM Sual Corporation - Philippines
- Intertek Mineral Services - Indonesia
- PNOC Exploration Corporation - Philippines
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