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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, 16 November 19
LIFE AFTER FOSSIL FUELS: THE DAYS OF OIL AND COAL TRANSPORTATION ARE NUMBERED - BALTIC EXCHANGE
With the world fiercely focused on a decarbonised future, fossil fuel movers and traders might rightly be reconsidering their future. But cast a wi ...
Saturday, 16 November 19
OIL MARKET REPORT: PAUSING TO REFLECT - IEA
Global oil demand in 3Q19 increased by 1.1 mb/d year-on-year (y-o-y), more than double the 435 kb/d seen in 2Q19. China’s demand increased by ...
Friday, 15 November 19
RISING ENERGY DEMAND IN SOUTHEAST ASIA TO BE MET AND SUPPORTED BY COAL - WORLD COAL
Last week the International Energy Agency (IEA) released its semi-annual Southeast Asia Energy Outlook report which outlines the latest insights in ...
Thursday, 14 November 19
EIA EXPECTS U.S. STEAM COAL EXPORTS TO FACE INCREASING COMPETITION FROM EASTERN EUROPEAN SOURCES
EIA expects total U.S. coal production in 2019 to total 698 million short tons (MMst), an 8% decrease from the 2018 level of 756 MMst. The decline ...
Wednesday, 13 November 19
INDONESIAN NOVEMBER COAL PRICE REFERENCE LOGS FIRST GAIN SINCE AUGUST
COALspot.com: The Ministry of Energy and Mineral Resources of the Republic of Indonesia has revised up the benchmark price of Indonesian thermal co ...
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- PTC India Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Simpson Spence & Young - Indonesia
- European Bulk Services B.V. - Netherlands
- Essar Steel Hazira Ltd - India
- Siam City Cement - Thailand
- Attock Cement Pakistan Limited
- Minerals Council of Australia
- Tata Chemicals Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ministry of Finance - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Gujarat Mineral Development Corp Ltd - India
- Mercuria Energy - Indonesia
- McConnell Dowell - Australia
- Mintek Dendrill Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sree Jayajothi Cements Limited - India
- Kideco Jaya Agung - Indonesia
- Price Waterhouse Coopers - Russia
- IHS Mccloskey Coal Group - USA
- Deloitte Consulting - India
- Indian Oil Corporation Limited
- Global Coal Blending Company Limited - Australia
- Iligan Light & Power Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Ind-Barath Power Infra Limited - India
- Formosa Plastics Group - Taiwan
- Latin American Coal - Colombia
- Sojitz Corporation - Japan
- Orica Mining Services - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Agrawal Coal Company - India
- Siam City Cement PLC, Thailand
- Merrill Lynch Commodities Europe
- Bharathi Cement Corporation - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Global Business Power Corporation, Philippines
- GMR Energy Limited - India
- Dalmia Cement Bharat India
- Alfred C Toepfer International GmbH - Germany
- PowerSource Philippines DevCo
- Port Waratah Coal Services - Australia
- Banpu Public Company Limited - Thailand
- Standard Chartered Bank - UAE
- Parliament of New Zealand
- Global Green Power PLC Corporation, Philippines
- CIMB Investment Bank - Malaysia
- CNBM International Corporation - China
- Kartika Selabumi Mining - Indonesia
- SMC Global Power, Philippines
- SN Aboitiz Power Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Bhatia International Limited - India
- Manunggal Multi Energi - Indonesia
- Sarangani Energy Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Eastern Energy - Thailand
- LBH Netherlands Bv - Netherlands
- Uttam Galva Steels Limited - India
- Samtan Co., Ltd - South Korea
- Kumho Petrochemical, South Korea
- Renaissance Capital - South Africa
- Vedanta Resources Plc - India
- Electricity Generating Authority of Thailand
- Independent Power Producers Association of India
- Carbofer General Trading SA - India
- Trasteel International SA, Italy
- Meralco Power Generation, Philippines
- India Bulls Power Limited - India
- Binh Thuan Hamico - Vietnam
- Straits Asia Resources Limited - Singapore
- Mjunction Services Limited - India
- IEA Clean Coal Centre - UK
- Altura Mining Limited, Indonesia
- White Energy Company Limited
- Therma Luzon, Inc, Philippines
- Marubeni Corporation - India
- Australian Coal Association
- OPG Power Generation Pvt Ltd - India
- Ambuja Cements Ltd - India
- VISA Power Limited - India
- Ceylon Electricity Board - Sri Lanka
- Mercator Lines Limited - India
- GAC Shipping (India) Pvt Ltd
- Kepco SPC Power Corporation, Philippines
- Antam Resourcindo - Indonesia
- Pendopo Energi Batubara - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Gujarat Electricity Regulatory Commission - India
- Maheswari Brothers Coal Limited - India
- TeaM Sual Corporation - Philippines
- Coastal Gujarat Power Limited - India
- Indian Energy Exchange, India
- Goldman Sachs - Singapore
- Central Java Power - Indonesia
- ASAPP Information Group - India
- Aditya Birla Group - India
- Energy Development Corp, Philippines
- Sical Logistics Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Xindia Steels Limited - India
- Rio Tinto Coal - Australia
- Indika Energy - Indonesia
- Grasim Industreis Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Riau Bara Harum - Indonesia
- San Jose City I Power Corp, Philippines
- Baramulti Group, Indonesia
- Africa Commodities Group - South Africa
- Interocean Group of Companies - India
- Timah Investasi Mineral - Indoneisa
- Intertek Mineral Services - Indonesia
- Edison Trading Spa - Italy
- Power Finance Corporation Ltd., India
- Barasentosa Lestari - Indonesia
- Posco Energy - South Korea
- Billiton Holdings Pty Ltd - Australia
- Thiess Contractors Indonesia
- Singapore Mercantile Exchange
- Parry Sugars Refinery, India
- Makarim & Taira - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Bulk Trading Sa - Switzerland
- Kohat Cement Company Ltd. - Pakistan
- Central Electricity Authority - India
- Meenaskhi Energy Private Limited - India
- Chamber of Mines of South Africa
- Star Paper Mills Limited - India
- Sindya Power Generating Company Private Ltd
- Anglo American - United Kingdom
- Eastern Coal Council - USA
- Malabar Cements Ltd - India
- PNOC Exploration Corporation - Philippines
- Holcim Trading Pte Ltd - Singapore
- Metalloyd Limited - United Kingdom
- The Treasury - Australian Government
- Indogreen Group - Indonesia
- Videocon Industries ltd - India
- Tamil Nadu electricity Board
- Miang Besar Coal Terminal - Indonesia
- Electricity Authority, New Zealand
- Kalimantan Lumbung Energi - Indonesia
- Bhoruka Overseas - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Ministry of Mines - Canada
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bhushan Steel Limited - India
- Sakthi Sugars Limited - India
- Sinarmas Energy and Mining - Indonesia
- New Zealand Coal & Carbon
- Planning Commission, India
- Jindal Steel & Power Ltd - India
- Semirara Mining Corp, Philippines
- Asmin Koalindo Tuhup - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Larsen & Toubro Limited - India
- Aboitiz Power Corporation - Philippines
- The State Trading Corporation of India Ltd
- Economic Council, Georgia
- South Luzon Thermal Energy Corporation
- Bukit Makmur.PT - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Cigading International Bulk Terminal - Indonesia
- Coal and Oil Company - UAE
- Georgia Ports Authority, United States
- Directorate Of Revenue Intelligence - India
- Lanco Infratech Ltd - India
- Romanian Commodities Exchange
- Thai Mozambique Logistica
- Wilmar Investment Holdings
- TNB Fuel Sdn Bhd - Malaysia
- Bahari Cakrawala Sebuku - Indonesia
- Commonwealth Bank - Australia
- International Coal Ventures Pvt Ltd - India
- SMG Consultants - Indonesia
- Ministry of Transport, Egypt
- Kobexindo Tractors - Indoneisa
- Bukit Baiduri Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Salva Resources Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Coalindo Energy - Indonesia
- Bangladesh Power Developement Board
- Indonesian Coal Mining Association
- Heidelberg Cement - Germany
- Indo Tambangraya Megah - Indonesia
- Orica Australia Pty. Ltd.
- ICICI Bank Limited - India
- Chettinad Cement Corporation Ltd - India
- Gujarat Sidhee Cement - India
- Madhucon Powers Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Savvy Resources Ltd - HongKong
- Cement Manufacturers Association - India
- Wood Mackenzie - Singapore
- The University of Queensland
- Directorate General of MIneral and Coal - Indonesia
- Globalindo Alam Lestari - Indonesia
- GVK Power & Infra Limited - India
- Medco Energi Mining Internasional
- Toyota Tsusho Corporation, Japan
- MS Steel International - UAE
- Energy Link Ltd, New Zealand
- Vijayanagar Sugar Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Borneo Indobara - Indonesia
- Karaikal Port Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Petron Corporation, Philippines
- Australian Commodity Traders Exchange
- London Commodity Brokers - England
- Semirara Mining and Power Corporation, Philippines
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