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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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Sunday, 23 February 20
SHIPPING INDUSTRY FACES $370 MILLION HIT FROM NEW PANAMA CANAL CHARGE - REUTERS
A new “freshwater” charge that came in this month to help the Panama Canal cope with climate change will cost the shipping industry up ...
Sunday, 23 February 20
A 57,000DWT SHIP FIXING DELIVERY SOUTH KALIMANTAN TRIP, REDELIVERY CJK, AT $7,600 - BALTIC BRIEFING
Capesize
The Capesize market found little to cheer about this week as it again endured remarkable lows. The Atlantic continued to improve, with ...
Saturday, 22 February 20
THE SURPRISING MOVE IN MARINE FUEL SPREADS - ING
Middle distillates tank
One of the biggest surprises since the implementation of new International Maritime Organization (IMO) sulphur regulati ...
Friday, 21 February 20
CAPE: AVERAGE NOMINAL DAILY EARNINGS STILL ADMITTEDLY UNCHANGED W-O-W AT BELOW US$3000 - FEARNLEYS
CAPE
The worst may just about be over for the big ships. Average nominal daily earnings still admittedly unchanged w-o-w at below US$3k, but sent ...
Friday, 21 February 20
INDIA: POTENTIAL INVESTORS SEEK MORE CLARITY ON COMMERCIAL COAL MINING NORMS - FINANCIAL EXPRESS
Potential private investors have sought more clarity on the pricing mechanism proposed for the much-anticipated auction for commercial coal mining. ...
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- Star Paper Mills Limited - India
- The Treasury - Australian Government
- Agrawal Coal Company - India
- Australian Coal Association
- New Zealand Coal & Carbon
- The State Trading Corporation of India Ltd
- Neyveli Lignite Corporation Ltd, - India
- Gujarat Mineral Development Corp Ltd - India
- Orica Mining Services - Indonesia
- Ind-Barath Power Infra Limited - India
- Savvy Resources Ltd - HongKong
- Maheswari Brothers Coal Limited - India
- Price Waterhouse Coopers - Russia
- Heidelberg Cement - Germany
- Ministry of Finance - Indonesia
- Medco Energi Mining Internasional
- PowerSource Philippines DevCo
- Sree Jayajothi Cements Limited - India
- Jindal Steel & Power Ltd - India
- London Commodity Brokers - England
- The University of Queensland
- Mjunction Services Limited - India
- Alfred C Toepfer International GmbH - Germany
- Karaikal Port Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Coalindo Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Wilmar Investment Holdings
- Videocon Industries ltd - India
- Bhatia International Limited - India
- Edison Trading Spa - Italy
- TeaM Sual Corporation - Philippines
- Parry Sugars Refinery, India
- India Bulls Power Limited - India
- Mercuria Energy - Indonesia
- Uttam Galva Steels Limited - India
- Semirara Mining Corp, Philippines
- Energy Link Ltd, New Zealand
- Madhucon Powers Ltd - India
- Samtan Co., Ltd - South Korea
- Vizag Seaport Private Limited - India
- LBH Netherlands Bv - Netherlands
- Chamber of Mines of South Africa
- Coal and Oil Company - UAE
- Vijayanagar Sugar Pvt Ltd - India
- Economic Council, Georgia
- Anglo American - United Kingdom
- Salva Resources Pvt Ltd - India
- Siam City Cement - Thailand
- PNOC Exploration Corporation - Philippines
- Planning Commission, India
- Bahari Cakrawala Sebuku - Indonesia
- Merrill Lynch Commodities Europe
- Straits Asia Resources Limited - Singapore
- Eastern Energy - Thailand
- Holcim Trading Pte Ltd - Singapore
- Indian Energy Exchange, India
- Petrochimia International Co. Ltd.- Taiwan
- San Jose City I Power Corp, Philippines
- Cigading International Bulk Terminal - Indonesia
- Sojitz Corporation - Japan
- Therma Luzon, Inc, Philippines
- Formosa Plastics Group - Taiwan
- Bank of Tokyo Mitsubishi UFJ Ltd
- ASAPP Information Group - India
- CNBM International Corporation - China
- Cement Manufacturers Association - India
- Globalindo Alam Lestari - Indonesia
- Tata Chemicals Ltd - India
- Makarim & Taira - Indonesia
- Directorate Of Revenue Intelligence - India
- Indian Oil Corporation Limited
- Karbindo Abesyapradhi - Indoneisa
- Deloitte Consulting - India
- South Luzon Thermal Energy Corporation
- Ministry of Transport, Egypt
- Central Java Power - Indonesia
- Kartika Selabumi Mining - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Gujarat Sidhee Cement - India
- Eastern Coal Council - USA
- GMR Energy Limited - India
- IHS Mccloskey Coal Group - USA
- Kideco Jaya Agung - Indonesia
- Binh Thuan Hamico - Vietnam
- Singapore Mercantile Exchange
- Parliament of New Zealand
- Global Business Power Corporation, Philippines
- Bangladesh Power Developement Board
- Bhushan Steel Limited - India
- Gujarat Electricity Regulatory Commission - India
- Ministry of Mines - Canada
- Attock Cement Pakistan Limited
- Bukit Asam (Persero) Tbk - Indonesia
- Pendopo Energi Batubara - Indonesia
- Aditya Birla Group - India
- Antam Resourcindo - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Bayan Resources Tbk. - Indonesia
- Georgia Ports Authority, United States
- Riau Bara Harum - Indonesia
- Ambuja Cements Ltd - India
- GVK Power & Infra Limited - India
- Tamil Nadu electricity Board
- Altura Mining Limited, Indonesia
- Latin American Coal - Colombia
- Bulk Trading Sa - Switzerland
- Malabar Cements Ltd - India
- Dalmia Cement Bharat India
- PTC India Limited - India
- International Coal Ventures Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Indonesian Coal Mining Association
- PetroVietnam Power Coal Import and Supply Company
- Baramulti Group, Indonesia
- Iligan Light & Power Inc, Philippines
- Indogreen Group - Indonesia
- Timah Investasi Mineral - Indoneisa
- Borneo Indobara - Indonesia
- Orica Australia Pty. Ltd.
- Electricity Generating Authority of Thailand
- SN Aboitiz Power Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Energy Development Corp, Philippines
- European Bulk Services B.V. - Netherlands
- Central Electricity Authority - India
- Krishnapatnam Port Company Ltd. - India
- Mintek Dendrill Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kaltim Prima Coal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Standard Chartered Bank - UAE
- Metalloyd Limited - United Kingdom
- Global Coal Blending Company Limited - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sindya Power Generating Company Private Ltd
- Carbofer General Trading SA - India
- Grasim Industreis Ltd - India
- Electricity Authority, New Zealand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- SMG Consultants - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Simpson Spence & Young - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Thai Mozambique Logistica
- Oldendorff Carriers - Singapore
- Trasteel International SA, Italy
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- MS Steel International - UAE
- CIMB Investment Bank - Malaysia
- GN Power Mariveles Coal Plant, Philippines
- Bharathi Cement Corporation - India
- Commonwealth Bank - Australia
- Sinarmas Energy and Mining - Indonesia
- Aboitiz Power Corporation - Philippines
- Australian Commodity Traders Exchange
- Goldman Sachs - Singapore
- Minerals Council of Australia
- Meenaskhi Energy Private Limited - India
- Larsen & Toubro Limited - India
- Bukit Makmur.PT - Indonesia
- Coastal Gujarat Power Limited - India
- Thiess Contractors Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Essar Steel Hazira Ltd - India
- Miang Besar Coal Terminal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Semirara Mining and Power Corporation, Philippines
- Indika Energy - Indonesia
- Petron Corporation, Philippines
- Interocean Group of Companies - India
- Sakthi Sugars Limited - India
- Siam City Cement PLC, Thailand
- Kapuas Tunggal Persada - Indonesia
- Bhoruka Overseas - Indonesia
- Power Finance Corporation Ltd., India
- Meralco Power Generation, Philippines
- IEA Clean Coal Centre - UK
- Sarangani Energy Corporation, Philippines
- SMC Global Power, Philippines
- Lanco Infratech Ltd - India
- Kumho Petrochemical, South Korea
- Asmin Koalindo Tuhup - Indonesia
- Kobexindo Tractors - Indoneisa
- Rio Tinto Coal - Australia
- McConnell Dowell - Australia
- Billiton Holdings Pty Ltd - Australia
- Indo Tambangraya Megah - Indonesia
- Manunggal Multi Energi - Indonesia
- Renaissance Capital - South Africa
- Marubeni Corporation - India
- Jaiprakash Power Ventures ltd
- Sical Logistics Limited - India
- Africa Commodities Group - South Africa
- Mercator Lines Limited - India
- Intertek Mineral Services - Indonesia
- White Energy Company Limited
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Wood Mackenzie - Singapore
- Posco Energy - South Korea
- ICICI Bank Limited - India
- VISA Power Limited - India
- Global Green Power PLC Corporation, Philippines
- Vedanta Resources Plc - India
- Chettinad Cement Corporation Ltd - India
- Independent Power Producers Association of India
- Leighton Contractors Pty Ltd - Australia
- Bukit Baiduri Energy - Indonesia
- Romanian Commodities Exchange
- Port Waratah Coal Services - Australia
- Kepco SPC Power Corporation, Philippines
- Xindia Steels Limited - India
- GAC Shipping (India) Pvt Ltd
- Barasentosa Lestari - Indonesia
- Kohat Cement Company Ltd. - Pakistan
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