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