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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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Thursday, 17 October 19
INDIA READIES POLICY TO ATTRACT FOREIGN INVESTMENT IN COAL MINING - REUTERS
India expects to have formulated a policy within the next two weeks to attract foreign investment to its coal mining industry, the country’s ...
Wednesday, 16 October 19
INDIA CALLS FOR A RESET OF CLIMATE DEBATE ON COAL AS A FUEL - LIVEMINT
India on Tuesday called for a reset on climate debate on coal as a fuel, in the backdrop of India becoming one of the top renewable energy producer ...
Wednesday, 16 October 19
LESSONS LEARNT FROM CREW INJURED IN HEAVY WEATHER - UK P&I CLUB COMMENTS
KNOWLEDGE TO ELEVATE
Stuart Edmonston, Loss Prevention at UK P&I Club, discusses an incident in which crew were injured whilst on deck in ...
Wednesday, 16 October 19
SHIPPING MARKET INSIGHT - INTERMODAL
In perhaps the most interesting market conditions of the past years, the tanker and the dry bulk industry have created a positive sentiment with re ...
Tuesday, 15 October 19
INDIA READIES POLICY TO ATTRACT FOREIGN INVESTMENT IN COAL MINING - REUTERS
India expects to have formulated a policy within the next two weeks to attract foreign investment to its coal mining industry, the country's Co ...
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- PetroVietnam Power Coal Import and Supply Company
- Kohat Cement Company Ltd. - Pakistan
- Orica Mining Services - Indonesia
- PTC India Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- The State Trading Corporation of India Ltd
- Coalindo Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Global Coal Blending Company Limited - Australia
- GAC Shipping (India) Pvt Ltd
- Alfred C Toepfer International GmbH - Germany
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Global Business Power Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- PowerSource Philippines DevCo
- Karbindo Abesyapradhi - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- Lanco Infratech Ltd - India
- Sical Logistics Limited - India
- Jindal Steel & Power Ltd - India
- Bhatia International Limited - India
- CIMB Investment Bank - Malaysia
- Orica Australia Pty. Ltd.
- Essar Steel Hazira Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Manunggal Multi Energi - Indonesia
- Sindya Power Generating Company Private Ltd
- Iligan Light & Power Inc, Philippines
- Africa Commodities Group - South Africa
- Indo Tambangraya Megah - Indonesia
- McConnell Dowell - Australia
- Sakthi Sugars Limited - India
- Anglo American - United Kingdom
- Economic Council, Georgia
- The Treasury - Australian Government
- Indogreen Group - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Riau Bara Harum - Indonesia
- Eastern Energy - Thailand
- International Coal Ventures Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Grasim Industreis Ltd - India
- Parry Sugars Refinery, India
- Ministry of Transport, Egypt
- Port Waratah Coal Services - Australia
- Binh Thuan Hamico - Vietnam
- Indian Energy Exchange, India
- GVK Power & Infra Limited - India
- Kumho Petrochemical, South Korea
- Edison Trading Spa - Italy
- Energy Link Ltd, New Zealand
- Minerals Council of Australia
- New Zealand Coal & Carbon
- ICICI Bank Limited - India
- Sree Jayajothi Cements Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- SN Aboitiz Power Inc, Philippines
- Interocean Group of Companies - India
- Meenaskhi Energy Private Limited - India
- Gujarat Electricity Regulatory Commission - India
- Oldendorff Carriers - Singapore
- Directorate Of Revenue Intelligence - India
- Malabar Cements Ltd - India
- Merrill Lynch Commodities Europe
- Chettinad Cement Corporation Ltd - India
- Parliament of New Zealand
- VISA Power Limited - India
- Timah Investasi Mineral - Indoneisa
- Wilmar Investment Holdings
- Uttam Galva Steels Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Price Waterhouse Coopers - Russia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mjunction Services Limited - India
- Ind-Barath Power Infra Limited - India
- Thai Mozambique Logistica
- Australian Commodity Traders Exchange
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Therma Luzon, Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Formosa Plastics Group - Taiwan
- Antam Resourcindo - Indonesia
- Star Paper Mills Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Aditya Birla Group - India
- Rio Tinto Coal - Australia
- Kartika Selabumi Mining - Indonesia
- Global Green Power PLC Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Tata Chemicals Ltd - India
- South Luzon Thermal Energy Corporation
- Tamil Nadu electricity Board
- GMR Energy Limited - India
- Xindia Steels Limited - India
- Electricity Generating Authority of Thailand
- Toyota Tsusho Corporation, Japan
- Kapuas Tunggal Persada - Indonesia
- Electricity Authority, New Zealand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Central Java Power - Indonesia
- Singapore Mercantile Exchange
- Thiess Contractors Indonesia
- Independent Power Producers Association of India
- Siam City Cement PLC, Thailand
- Central Electricity Authority - India
- Renaissance Capital - South Africa
- Vedanta Resources Plc - India
- Kaltim Prima Coal - Indonesia
- India Bulls Power Limited - India
- Sarangani Energy Corporation, Philippines
- Medco Energi Mining Internasional
- Power Finance Corporation Ltd., India
- Kideco Jaya Agung - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Petron Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Intertek Mineral Services - Indonesia
- Jaiprakash Power Ventures ltd
- Barasentosa Lestari - Indonesia
- TeaM Sual Corporation - Philippines
- Mercuria Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Madhucon Powers Ltd - India
- Eastern Coal Council - USA
- Pendopo Energi Batubara - Indonesia
- Bhushan Steel Limited - India
- Bulk Trading Sa - Switzerland
- Videocon Industries ltd - India
- Gujarat Sidhee Cement - India
- AsiaOL BioFuels Corp., Philippines
- Ministry of Finance - Indonesia
- Samtan Co., Ltd - South Korea
- Indian Oil Corporation Limited
- Ambuja Cements Ltd - India
- Bharathi Cement Corporation - India
- Bukit Makmur.PT - Indonesia
- Agrawal Coal Company - India
- Simpson Spence & Young - Indonesia
- Kepco SPC Power Corporation, Philippines
- Chamber of Mines of South Africa
- San Jose City I Power Corp, Philippines
- Posco Energy - South Korea
- Gujarat Mineral Development Corp Ltd - India
- Kobexindo Tractors - Indoneisa
- Siam City Cement - Thailand
- Cement Manufacturers Association - India
- Borneo Indobara - Indonesia
- Carbofer General Trading SA - India
- MS Steel International - UAE
- Coastal Gujarat Power Limited - India
- Indika Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Karaikal Port Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Energy Development Corp, Philippines
- Baramulti Group, Indonesia
- CNBM International Corporation - China
- Metalloyd Limited - United Kingdom
- Deloitte Consulting - India
- Bayan Resources Tbk. - Indonesia
- IHS Mccloskey Coal Group - USA
- Billiton Holdings Pty Ltd - Australia
- Bukit Baiduri Energy - Indonesia
- Semirara Mining Corp, Philippines
- Miang Besar Coal Terminal - Indonesia
- SMG Consultants - Indonesia
- Wood Mackenzie - Singapore
- GN Power Mariveles Coal Plant, Philippines
- White Energy Company Limited
- Goldman Sachs - Singapore
- The University of Queensland
- Indonesian Coal Mining Association
- Bhoruka Overseas - Indonesia
- Latin American Coal - Colombia
- Semirara Mining and Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Makarim & Taira - Indonesia
- Vizag Seaport Private Limited - India
- Marubeni Corporation - India
- Bahari Cakrawala Sebuku - Indonesia
- Romanian Commodities Exchange
- Directorate General of MIneral and Coal - Indonesia
- Mercator Lines Limited - India
- Sojitz Corporation - Japan
- Ministry of Mines - Canada
- Larsen & Toubro Limited - India
- Trasteel International SA, Italy
- Heidelberg Cement - Germany
- Rashtriya Ispat Nigam Limited - India
- SMC Global Power, Philippines
- Sinarmas Energy and Mining - Indonesia
- London Commodity Brokers - England
- ASAPP Information Group - India
- Savvy Resources Ltd - HongKong
- Dalmia Cement Bharat India
- Straits Asia Resources Limited - Singapore
- Georgia Ports Authority, United States
- Altura Mining Limited, Indonesia
- Mintek Dendrill Indonesia
- Coal and Oil Company - UAE
- Maheswari Brothers Coal Limited - India
- LBH Netherlands Bv - Netherlands
- Australian Coal Association
- Meralco Power Generation, Philippines
- Bangladesh Power Developement Board
- European Bulk Services B.V. - Netherlands
- Attock Cement Pakistan Limited
- Standard Chartered Bank - UAE
- Globalindo Alam Lestari - Indonesia
- Salva Resources Pvt Ltd - India
- Commonwealth Bank - Australia
- Planning Commission, India
- Banpu Public Company Limited - Thailand
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