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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, 18 February 20
CORONAVIRUS AND ITS IMPACT ON YOUR CONTRACT - CAN YOU RELY ON 'FORCE MAJEURE'? - INCE
KNOWLEDGE TO ELEVATE
On 30 January 2020, the World Health Organization (WHO) declared that the outbreak of the Novel Coronavirus (officially t ...
Monday, 17 February 20
IMO-2020 SULPHUR CAP - ISSUES TO CONSIDER PRIOR TO THE IMPLEMENTATION OF THE CARRIAGE BAN ON 1 MARCH 2020 - STANDARD CLUB
With the IMO 2020 global sulphur cap now in force, members should bear in mind another significant date in relation to the ‘carriage ban&rsqu ...
Monday, 17 February 20
COVID-19: THE EFFECT OF THIS PUBLIC HEALTH EMERGENCY ON CHARTERPARTY TERMS - GARD
KNOWLEDGE TO ELEVATE
Is it useful to compare the COVID-19 with earlier disease outbreaks?
A comparison with the Ebola outbreak ...
Saturday, 15 February 20
CHINA'S BENCHMARK POWER COAL PRICE EDGES UP - REUTERS
China’s benchmark power coal price rose slightly during the past week.
The Bohai-Rim Steam-Coal Price Index (BSPI), a gauge of ...
Saturday, 15 February 20
CHEN ZHIDA: NOVEL CORONAVIRUS - IMPLICATIONS FOR CHARTERPARTIES - SHIPOWNERS' CLUB
KNOWLEDGE TO ELEVATE
Last month, the Club issued a bulletin on the 2019 Novel Coronavirus (COVID-19) which explained the origin of the virus a ...
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- Coal and Oil Company - UAE
- Sree Jayajothi Cements Limited - India
- Altura Mining Limited, Indonesia
- Rio Tinto Coal - Australia
- Karaikal Port Pvt Ltd - India
- Marubeni Corporation - India
- Australian Commodity Traders Exchange
- Renaissance Capital - South Africa
- Asmin Koalindo Tuhup - Indonesia
- Straits Asia Resources Limited - Singapore
- Star Paper Mills Limited - India
- GAC Shipping (India) Pvt Ltd
- ICICI Bank Limited - India
- Rashtriya Ispat Nigam Limited - India
- Australian Coal Association
- Agrawal Coal Company - India
- GMR Energy Limited - India
- San Jose City I Power Corp, Philippines
- Kepco SPC Power Corporation, Philippines
- SMC Global Power, Philippines
- Ind-Barath Power Infra Limited - India
- Bhoruka Overseas - Indonesia
- Kobexindo Tractors - Indoneisa
- Goldman Sachs - Singapore
- Chamber of Mines of South Africa
- Metalloyd Limited - United Kingdom
- Indika Energy - Indonesia
- Singapore Mercantile Exchange
- Bangladesh Power Developement Board
- Directorate Of Revenue Intelligence - India
- Commonwealth Bank - Australia
- Vizag Seaport Private Limited - India
- GN Power Mariveles Coal Plant, Philippines
- SN Aboitiz Power Inc, Philippines
- Dalmia Cement Bharat India
- Kideco Jaya Agung - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Edison Trading Spa - Italy
- Sindya Power Generating Company Private Ltd
- PTC India Limited - India
- Billiton Holdings Pty Ltd - Australia
- London Commodity Brokers - England
- Semirara Mining and Power Corporation, Philippines
- CNBM International Corporation - China
- Jaiprakash Power Ventures ltd
- Sojitz Corporation - Japan
- Petrochimia International Co. Ltd.- Taiwan
- Energy Link Ltd, New Zealand
- Mjunction Services Limited - India
- Cigading International Bulk Terminal - Indonesia
- Indian Energy Exchange, India
- Sarangani Energy Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- South Luzon Thermal Energy Corporation
- Trasteel International SA, Italy
- Oldendorff Carriers - Singapore
- Georgia Ports Authority, United States
- Deloitte Consulting - India
- Binh Thuan Hamico - Vietnam
- Manunggal Multi Energi - Indonesia
- VISA Power Limited - India
- Parliament of New Zealand
- Posco Energy - South Korea
- Meenaskhi Energy Private Limited - India
- Baramulti Group, Indonesia
- Wilmar Investment Holdings
- Romanian Commodities Exchange
- Siam City Cement PLC, Thailand
- Wood Mackenzie - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Larsen & Toubro Limited - India
- European Bulk Services B.V. - Netherlands
- Coastal Gujarat Power Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Eastern Energy - Thailand
- Bhatia International Limited - India
- CIMB Investment Bank - Malaysia
- AsiaOL BioFuels Corp., Philippines
- Simpson Spence & Young - Indonesia
- Aditya Birla Group - India
- Ministry of Finance - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Electricity Generating Authority of Thailand
- PowerSource Philippines DevCo
- Economic Council, Georgia
- Energy Development Corp, Philippines
- Carbofer General Trading SA - India
- Intertek Mineral Services - Indonesia
- Mercuria Energy - Indonesia
- McConnell Dowell - Australia
- Grasim Industreis Ltd - India
- Videocon Industries ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Petron Corporation, Philippines
- ASAPP Information Group - India
- Bulk Trading Sa - Switzerland
- GVK Power & Infra Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Latin American Coal - Colombia
- Aboitiz Power Corporation - Philippines
- Globalindo Alam Lestari - Indonesia
- SMG Consultants - Indonesia
- MS Steel International - UAE
- Orica Australia Pty. Ltd.
- Iligan Light & Power Inc, Philippines
- IEA Clean Coal Centre - UK
- Sical Logistics Limited - India
- Coalindo Energy - Indonesia
- Eastern Coal Council - USA
- Neyveli Lignite Corporation Ltd, - India
- India Bulls Power Limited - India
- Meralco Power Generation, Philippines
- Mercator Lines Limited - India
- Bharathi Cement Corporation - India
- Banpu Public Company Limited - Thailand
- Xindia Steels Limited - India
- The Treasury - Australian Government
- Semirara Mining Corp, Philippines
- Toyota Tsusho Corporation, Japan
- Global Coal Blending Company Limited - Australia
- Anglo American - United Kingdom
- Krishnapatnam Port Company Ltd. - India
- Savvy Resources Ltd - HongKong
- Gujarat Electricity Regulatory Commission - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Lanco Infratech Ltd - India
- Bhushan Steel Limited - India
- Salva Resources Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Merrill Lynch Commodities Europe
- Maharashtra Electricity Regulatory Commission - India
- The University of Queensland
- Uttam Galva Steels Limited - India
- Kapuas Tunggal Persada - Indonesia
- Bukit Baiduri Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Kartika Selabumi Mining - Indonesia
- Sakthi Sugars Limited - India
- Attock Cement Pakistan Limited
- Vedanta Resources Plc - India
- Heidelberg Cement - Germany
- OPG Power Generation Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Kaltim Prima Coal - Indonesia
- Price Waterhouse Coopers - Russia
- New Zealand Coal & Carbon
- International Coal Ventures Pvt Ltd - India
- Siam City Cement - Thailand
- Minerals Council of Australia
- TNB Fuel Sdn Bhd - Malaysia
- IHS Mccloskey Coal Group - USA
- Malabar Cements Ltd - India
- Indonesian Coal Mining Association
- Pipit Mutiara Jaya. PT, Indonesia
- Gujarat Sidhee Cement - India
- Barasentosa Lestari - Indonesia
- Port Waratah Coal Services - Australia
- Essar Steel Hazira Ltd - India
- White Energy Company Limited
- Global Green Power PLC Corporation, Philippines
- The State Trading Corporation of India Ltd
- Jindal Steel & Power Ltd - India
- Standard Chartered Bank - UAE
- Indo Tambangraya Megah - Indonesia
- Medco Energi Mining Internasional
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bukit Makmur.PT - Indonesia
- Mintek Dendrill Indonesia
- Maheswari Brothers Coal Limited - India
- Power Finance Corporation Ltd., India
- Vijayanagar Sugar Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Cement Manufacturers Association - India
- Makarim & Taira - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Thiess Contractors Indonesia
- Interocean Group of Companies - India
- Thai Mozambique Logistica
- Central Electricity Authority - India
- Timah Investasi Mineral - Indoneisa
- Tata Chemicals Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Planning Commission, India
- Riau Bara Harum - Indonesia
- Samtan Co., Ltd - South Korea
- Independent Power Producers Association of India
- Formosa Plastics Group - Taiwan
- Central Java Power - Indonesia
- Antam Resourcindo - Indonesia
- Parry Sugars Refinery, India
- Kumho Petrochemical, South Korea
- Africa Commodities Group - South Africa
- Bukit Asam (Persero) Tbk - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Madhucon Powers Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Ministry of Mines - Canada
- Borneo Indobara - Indonesia
- Therma Luzon, Inc, Philippines
- Global Business Power Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Electricity Authority, New Zealand
- Orica Mining Services - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Ministry of Transport, Egypt
- Tamil Nadu electricity Board
- Indian Oil Corporation Limited
- Ambuja Cements Ltd - India
- Indogreen Group - Indonesia
- PNOC Exploration Corporation - Philippines
- LBH Netherlands Bv - Netherlands
- TeaM Sual Corporation - Philippines
- Pendopo Energi Batubara - Indonesia
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