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