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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, 02 March 23
DRY BULK MARKET: THE WAY CHINA GOES, SO GOES THE MARKET - BIMCO
We expect demand growth within the 1.5-2.5% range in 2023, driven by China’s economic recovery. Improvements in consumer sentiment should hel ...
Thursday, 02 March 23
INDIA, CHINA DEMAND BOOST LOW-RANK THERMAL COAL PRICES IN ASIA - RUSSELL, REUTERS
Signs of stronger import demand from India have arrested the decline in price of the thermal coal grades most commonly sought by the world’s ...
Thursday, 02 March 23
INDIA CHEERS THE RETURN OF ‘KING COAL’ AS INDUSTRY SEES BUOYANT FUTURE - REUTERS
India’s coal industry celebrated the return of its major conference after a three-year pandemic hiatus by presenting a bullish view of demand ...
Wednesday, 01 March 23
GEO CONNECT ASIA RETURNS IN MARCH TO ACCELERATE THE REGION’S GEOSPATIAL AND LOCATION INTELLIGENCE CAPABILITIES
Press Release: The third edition of GCA will be held in conjunction with Digital Construction Asia and the inaugural Drones Asia – an event d ...
Wednesday, 01 March 23
THE DECLINE IN THE COAL PRICE SINCE THE BEGINNING OF THE YEAR HAS BEEN SIGNIFICANT - INTERMODAL
Last week, the front-month API2 future rose by 3.5%, but since the beginning of the year the future has fallen by 39% to $136.65/t, while the Newca ...
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- Parliament of New Zealand
- Meralco Power Generation, Philippines
- Gujarat Sidhee Cement - India
- Oldendorff Carriers - Singapore
- Uttam Galva Steels Limited - India
- Barasentosa Lestari - Indonesia
- Energy Link Ltd, New Zealand
- Singapore Mercantile Exchange
- Miang Besar Coal Terminal - Indonesia
- Thai Mozambique Logistica
- Commonwealth Bank - Australia
- Eastern Energy - Thailand
- Mercator Lines Limited - India
- Coastal Gujarat Power Limited - India
- The University of Queensland
- Sical Logistics Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Australian Commodity Traders Exchange
- Maheswari Brothers Coal Limited - India
- Madhucon Powers Ltd - India
- Anglo American - United Kingdom
- Petrochimia International Co. Ltd.- Taiwan
- Standard Chartered Bank - UAE
- Formosa Plastics Group - Taiwan
- Sakthi Sugars Limited - India
- Salva Resources Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Directorate Of Revenue Intelligence - India
- Bangladesh Power Developement Board
- Australian Coal Association
- ASAPP Information Group - India
- Bharathi Cement Corporation - India
- TeaM Sual Corporation - Philippines
- Dalmia Cement Bharat India
- Simpson Spence & Young - Indonesia
- Independent Power Producers Association of India
- London Commodity Brokers - England
- Central Electricity Authority - India
- Toyota Tsusho Corporation, Japan
- Kartika Selabumi Mining - Indonesia
- Thiess Contractors Indonesia
- Sinarmas Energy and Mining - Indonesia
- Indian Oil Corporation Limited
- Kideco Jaya Agung - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- PTC India Limited - India
- Edison Trading Spa - Italy
- New Zealand Coal & Carbon
- Baramulti Group, Indonesia
- Banpu Public Company Limited - Thailand
- Trasteel International SA, Italy
- Karbindo Abesyapradhi - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- Central Java Power - Indonesia
- Kobexindo Tractors - Indoneisa
- Alfred C Toepfer International GmbH - Germany
- SN Aboitiz Power Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Jindal Steel & Power Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Mintek Dendrill Indonesia
- Semirara Mining and Power Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- GVK Power & Infra Limited - India
- South Luzon Thermal Energy Corporation
- Karaikal Port Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Jaiprakash Power Ventures ltd
- IHS Mccloskey Coal Group - USA
- Eastern Coal Council - USA
- Bukit Asam (Persero) Tbk - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Chettinad Cement Corporation Ltd - India
- Rashtriya Ispat Nigam Limited - India
- IEA Clean Coal Centre - UK
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PNOC Exploration Corporation - Philippines
- Siam City Cement - Thailand
- Georgia Ports Authority, United States
- Orica Australia Pty. Ltd.
- Metalloyd Limited - United Kingdom
- Vizag Seaport Private Limited - India
- CIMB Investment Bank - Malaysia
- Semirara Mining Corp, Philippines
- Altura Mining Limited, Indonesia
- Ministry of Mines - Canada
- Vedanta Resources Plc - India
- Rio Tinto Coal - Australia
- Chamber of Mines of South Africa
- Indo Tambangraya Megah - Indonesia
- Ambuja Cements Ltd - India
- Indogreen Group - Indonesia
- Parry Sugars Refinery, India
- Pendopo Energi Batubara - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Bukit Makmur.PT - Indonesia
- Coalindo Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Port Waratah Coal Services - Australia
- Sree Jayajothi Cements Limited - India
- PowerSource Philippines DevCo
- Deloitte Consulting - India
- Carbofer General Trading SA - India
- Xindia Steels Limited - India
- Bayan Resources Tbk. - Indonesia
- GMR Energy Limited - India
- Orica Mining Services - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Tata Chemicals Ltd - India
- Riau Bara Harum - Indonesia
- Kaltim Prima Coal - Indonesia
- CNBM International Corporation - China
- Krishnapatnam Port Company Ltd. - India
- Minerals Council of Australia
- Sindya Power Generating Company Private Ltd
- Bukit Baiduri Energy - Indonesia
- Energy Development Corp, Philippines
- Borneo Indobara - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- LBH Netherlands Bv - Netherlands
- McConnell Dowell - Australia
- Planning Commission, India
- Africa Commodities Group - South Africa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Medco Energi Mining Internasional
- Gujarat Electricity Regulatory Commission - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Global Coal Blending Company Limited - Australia
- Petron Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mercuria Energy - Indonesia
- Sojitz Corporation - Japan
- Holcim Trading Pte Ltd - Singapore
- Tamil Nadu electricity Board
- Savvy Resources Ltd - HongKong
- Global Business Power Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Kumho Petrochemical, South Korea
- SMG Consultants - Indonesia
- Agrawal Coal Company - India
- Economic Council, Georgia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Star Paper Mills Limited - India
- Larsen & Toubro Limited - India
- Latin American Coal - Colombia
- Ministry of Finance - Indonesia
- Indian Energy Exchange, India
- Kohat Cement Company Ltd. - Pakistan
- Cement Manufacturers Association - India
- Bhatia International Limited - India
- VISA Power Limited - India
- Ministry of Transport, Egypt
- Bahari Cakrawala Sebuku - Indonesia
- Wood Mackenzie - Singapore
- International Coal Ventures Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Renaissance Capital - South Africa
- White Energy Company Limited
- MS Steel International - UAE
- Aditya Birla Group - India
- The State Trading Corporation of India Ltd
- GAC Shipping (India) Pvt Ltd
- AsiaOL BioFuels Corp., Philippines
- Heidelberg Cement - Germany
- Timah Investasi Mineral - Indoneisa
- Merrill Lynch Commodities Europe
- Indika Energy - Indonesia
- Interocean Group of Companies - India
- Leighton Contractors Pty Ltd - Australia
- Electricity Generating Authority of Thailand
- SMC Global Power, Philippines
- Kapuas Tunggal Persada - Indonesia
- Malabar Cements Ltd - India
- Mjunction Services Limited - India
- Marubeni Corporation - India
- Grasim Industreis Ltd - India
- Wilmar Investment Holdings
- Sarangani Energy Corporation, Philippines
- Makarim & Taira - Indonesia
- Siam City Cement PLC, Thailand
- Billiton Holdings Pty Ltd - Australia
- ICICI Bank Limited - India
- Power Finance Corporation Ltd., India
- Intertek Mineral Services - Indonesia
- Globalindo Alam Lestari - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Samtan Co., Ltd - South Korea
- Iligan Light & Power Inc, Philippines
- San Jose City I Power Corp, Philippines
- Romanian Commodities Exchange
- Attock Cement Pakistan Limited
- Bhushan Steel Limited - India
- Goldman Sachs - Singapore
- The Treasury - Australian Government
- Electricity Authority, New Zealand
- Posco Energy - South Korea
- Meenaskhi Energy Private Limited - India
- European Bulk Services B.V. - Netherlands
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Lanco Infratech Ltd - India
- Coal and Oil Company - UAE
- India Bulls Power Limited - India
- Antam Resourcindo - Indonesia
- Binh Thuan Hamico - Vietnam
- Indonesian Coal Mining Association
- Global Green Power PLC Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Aboitiz Power Corporation - Philippines
- Straits Asia Resources Limited - Singapore
- Manunggal Multi Energi - Indonesia
- Bhoruka Overseas - Indonesia
- Videocon Industries ltd - India
- Ind-Barath Power Infra Limited - India
- GN Power Mariveles Coal Plant, Philippines
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