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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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Saturday, 15 February 20
AFRAMAX: A MORE POSITIVE ATTITUDE EXISTED IN THIS SECTOR WITH RATES IMPROVING ON ALL ROUTES - BALTIC BRIEFING
VLCC
The market in the Middle East was unmoved this week, with Chinese refiners continuing to slow imports, allied with the impact of the Coron ...
Saturday, 15 February 20
A 56,000DWT VESSEL WAS CONCLUDED BASIS DELIVERY SINGAPORE VIA INDONESIA REDELIVERY CHINA IN THE LOW $6,000S - BALTIC BRIEFING
Capesize
Riding the downward momentum of the previous week, the market was always going to be hard pressed to make any sort of revival. With mu ...
Saturday, 15 February 20
U.S. COAL PRODUCTION WILL TOTAL 595 MMST IN 2020, DOWN 14% FROM 2019 - EIA
EIA forecasts that U.S. coal production will total 595 million short tons (MMst) in 2020, down 95 MMst (14%) from 2019.
Lower ...
Friday, 14 February 20
WHY THE WORLD ECONOMY WILL BE FACING CHINA'S CORONAVIRUS FOR A LONG TIME - CNBC
Everywhere we look we see the headlines and commentators talking about the coronavirus and its impact on tourism, trade and investment between Chin ...
Friday, 14 February 20
KOWEPO INVITED BIDS FOR 1.275 MILLION TONS OF MIN. 5,600 NCV COAL
COALspot.com: Korea Western Power Co. Ltd (KOWEPO). as a representative of five Korean Gencos has issued an international tender for total 1,275,00 ...
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- Semirara Mining Corp, Philippines
- Parliament of New Zealand
- McConnell Dowell - Australia
- Simpson Spence & Young - Indonesia
- Energy Development Corp, Philippines
- Coalindo Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Energy Link Ltd, New Zealand
- Bukit Asam (Persero) Tbk - Indonesia
- Globalindo Alam Lestari - Indonesia
- Indian Energy Exchange, India
- Mjunction Services Limited - India
- Manunggal Multi Energi - Indonesia
- Global Business Power Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Tata Chemicals Ltd - India
- Barasentosa Lestari - Indonesia
- Sindya Power Generating Company Private Ltd
- IHS Mccloskey Coal Group - USA
- Ind-Barath Power Infra Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Gujarat Electricity Regulatory Commission - India
- Chettinad Cement Corporation Ltd - India
- Marubeni Corporation - India
- Minerals Council of Australia
- Standard Chartered Bank - UAE
- Indian Oil Corporation Limited
- Billiton Holdings Pty Ltd - Australia
- PetroVietnam Power Coal Import and Supply Company
- CIMB Investment Bank - Malaysia
- Gujarat Mineral Development Corp Ltd - India
- Deloitte Consulting - India
- SMC Global Power, Philippines
- Thai Mozambique Logistica
- OPG Power Generation Pvt Ltd - India
- India Bulls Power Limited - India
- Xindia Steels Limited - India
- White Energy Company Limited
- Port Waratah Coal Services - Australia
- GN Power Mariveles Coal Plant, Philippines
- International Coal Ventures Pvt Ltd - India
- Mintek Dendrill Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Malabar Cements Ltd - India
- GMR Energy Limited - India
- Georgia Ports Authority, United States
- CNBM International Corporation - China
- Riau Bara Harum - Indonesia
- Global Green Power PLC Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Timah Investasi Mineral - Indoneisa
- Kapuas Tunggal Persada - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Planning Commission, India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Agrawal Coal Company - India
- Meralco Power Generation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Thiess Contractors Indonesia
- Cement Manufacturers Association - India
- Bayan Resources Tbk. - Indonesia
- Economic Council, Georgia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Lanco Infratech Ltd - India
- The Treasury - Australian Government
- Kartika Selabumi Mining - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Larsen & Toubro Limited - India
- Salva Resources Pvt Ltd - India
- Sojitz Corporation - Japan
- Therma Luzon, Inc, Philippines
- European Bulk Services B.V. - Netherlands
- Karbindo Abesyapradhi - Indoneisa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Siam City Cement - Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Anglo American - United Kingdom
- Heidelberg Cement - Germany
- Sree Jayajothi Cements Limited - India
- Siam City Cement PLC, Thailand
- Asmin Koalindo Tuhup - Indonesia
- Indika Energy - Indonesia
- The State Trading Corporation of India Ltd
- Videocon Industries ltd - India
- Eastern Coal Council - USA
- IEA Clean Coal Centre - UK
- Central Java Power - Indonesia
- Price Waterhouse Coopers - Russia
- Edison Trading Spa - Italy
- Sical Logistics Limited - India
- ASAPP Information Group - India
- Electricity Generating Authority of Thailand
- Kohat Cement Company Ltd. - Pakistan
- Borneo Indobara - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Star Paper Mills Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Bahari Cakrawala Sebuku - Indonesia
- PowerSource Philippines DevCo
- Independent Power Producers Association of India
- Jindal Steel & Power Ltd - India
- Latin American Coal - Colombia
- Kobexindo Tractors - Indoneisa
- Tamil Nadu electricity Board
- Ministry of Finance - Indonesia
- Essar Steel Hazira Ltd - India
- Ministry of Mines - Canada
- Petron Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Madhucon Powers Ltd - India
- Sakthi Sugars Limited - India
- Bharathi Cement Corporation - India
- PTC India Limited - India
- Aditya Birla Group - India
- Orica Australia Pty. Ltd.
- Sinarmas Energy and Mining - Indonesia
- Ambuja Cements Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Australian Commodity Traders Exchange
- Goldman Sachs - Singapore
- Bangladesh Power Developement Board
- Dalmia Cement Bharat India
- Grasim Industreis Ltd - India
- Bukit Makmur.PT - Indonesia
- Pendopo Energi Batubara - Indonesia
- Baramulti Group, Indonesia
- Kumho Petrochemical, South Korea
- Singapore Mercantile Exchange
- Bukit Baiduri Energy - Indonesia
- Jaiprakash Power Ventures ltd
- South Luzon Thermal Energy Corporation
- Posco Energy - South Korea
- Power Finance Corporation Ltd., India
- London Commodity Brokers - England
- Romanian Commodities Exchange
- Parry Sugars Refinery, India
- Petrochimia International Co. Ltd.- Taiwan
- Kalimantan Lumbung Energi - Indonesia
- Bhatia International Limited - India
- Meenaskhi Energy Private Limited - India
- Merrill Lynch Commodities Europe
- Iligan Light & Power Inc, Philippines
- Coal and Oil Company - UAE
- Electricity Authority, New Zealand
- Krishnapatnam Port Company Ltd. - India
- Cigading International Bulk Terminal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Wood Mackenzie - Singapore
- Banpu Public Company Limited - Thailand
- Australian Coal Association
- Chamber of Mines of South Africa
- Toyota Tsusho Corporation, Japan
- Alfred C Toepfer International GmbH - Germany
- Directorate Of Revenue Intelligence - India
- Vedanta Resources Plc - India
- SN Aboitiz Power Inc, Philippines
- Uttam Galva Steels Limited - India
- Indo Tambangraya Megah - Indonesia
- Binh Thuan Hamico - Vietnam
- Attock Cement Pakistan Limited
- Formosa Plastics Group - Taiwan
- Bhoruka Overseas - Indonesia
- Coastal Gujarat Power Limited - India
- Global Coal Blending Company Limited - Australia
- LBH Netherlands Bv - Netherlands
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Oldendorff Carriers - Singapore
- Mercator Lines Limited - India
- Leighton Contractors Pty Ltd - Australia
- Ministry of Transport, Egypt
- Carbofer General Trading SA - India
- Makarim & Taira - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Bhushan Steel Limited - India
- Rio Tinto Coal - Australia
- Renaissance Capital - South Africa
- Savvy Resources Ltd - HongKong
- MS Steel International - UAE
- VISA Power Limited - India
- Altura Mining Limited, Indonesia
- Karaikal Port Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Samtan Co., Ltd - South Korea
- The University of Queensland
- PNOC Exploration Corporation - Philippines
- Interocean Group of Companies - India
- Holcim Trading Pte Ltd - Singapore
- Aboitiz Power Corporation - Philippines
- Indogreen Group - Indonesia
- Kideco Jaya Agung - Indonesia
- TeaM Sual Corporation - Philippines
- SMG Consultants - Indonesia
- Commonwealth Bank - Australia
- Orica Mining Services - Indonesia
- Straits Asia Resources Limited - Singapore
- Eastern Energy - Thailand
- Bulk Trading Sa - Switzerland
- Antam Resourcindo - Indonesia
- Gujarat Sidhee Cement - India
- ICICI Bank Limited - India
- Vizag Seaport Private Limited - India
- Central Electricity Authority - India
- Medco Energi Mining Internasional
- Africa Commodities Group - South Africa
- Intertek Mineral Services - Indonesia
- GAC Shipping (India) Pvt Ltd
- Sarangani Energy Corporation, Philippines
- Indonesian Coal Mining Association
- Trasteel International SA, Italy
- New Zealand Coal & Carbon
- GVK Power & Infra Limited - India
- Mercuria Energy - Indonesia
- Wilmar Investment Holdings
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