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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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Wednesday, 24 April 19
PANAMAX: IN THE EAST, THE MARKET MOVED SIDE-WAYS, WITH FEWER COAL CARGOES FROM INDONESIA PUTTING PRESSURE ON RATES - INTERMODAL
Sentiment in the Dry Bulk market slowly but steadily kept improving last week as Capesize rates remained in recovery mode and Panamax earnings also ...
Wednesday, 24 April 19
SHIPPING MARKET INSIGHT - IS THIS A BANKERS' MARKET? - INTERMODAL
Over the last 10 years, many of the traditional and top lending banks have made the decision to either downsize their portfolios or even exit shipp ...
Monday, 22 April 19
COAL INDIA TO ASK POWER PLANTS TO CUT COAL IMPORTS - DNA
Co to encourage import substitution with domestic supplies at power plants
Surge in coal imports has now forced Coal India Ltd (CIL) ...
Thursday, 18 April 19
BIMCO SEES HARD TIMES AHEAD FOR CAPESIZES
China’s increased use of scrap metal for its production of crude steel is fundamentally critical to the dry bulk shipping industry. Mostly Ca ...
Wednesday, 17 April 19
ONCE AGAIN WE FACED WITH THE SITUATION OF THE DRY BALTIC INDEX BEING BELOW 1,000 POINTS - INTERMODAL
Once again we are faced with the situation of the Dry Baltic Index being below 1,000 points. In a market where the feeling of insecurity is almost ...
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- Star Paper Mills Limited - India
- Sinarmas Energy and Mining - Indonesia
- Bukit Baiduri Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Parry Sugars Refinery, India
- Baramulti Group, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Binh Thuan Hamico - Vietnam
- ASAPP Information Group - India
- Electricity Generating Authority of Thailand
- Eastern Coal Council - USA
- Simpson Spence & Young - Indonesia
- Bangladesh Power Developement Board
- New Zealand Coal & Carbon
- Orica Mining Services - Indonesia
- Aditya Birla Group - India
- Renaissance Capital - South Africa
- GVK Power & Infra Limited - India
- Kapuas Tunggal Persada - Indonesia
- Indika Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Australian Commodity Traders Exchange
- Commonwealth Bank - Australia
- Altura Mining Limited, Indonesia
- Gujarat Sidhee Cement - India
- Jindal Steel & Power Ltd - India
- Tata Chemicals Ltd - India
- India Bulls Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- Dalmia Cement Bharat India
- ICICI Bank Limited - India
- Latin American Coal - Colombia
- Jorong Barutama Greston.PT - Indonesia
- GAC Shipping (India) Pvt Ltd
- Standard Chartered Bank - UAE
- Siam City Cement PLC, Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Pendopo Energi Batubara - Indonesia
- Directorate Of Revenue Intelligence - India
- SMC Global Power, Philippines
- Wilmar Investment Holdings
- Chamber of Mines of South Africa
- Grasim Industreis Ltd - India
- Central Electricity Authority - India
- Timah Investasi Mineral - Indoneisa
- White Energy Company Limited
- Leighton Contractors Pty Ltd - Australia
- Attock Cement Pakistan Limited
- Posco Energy - South Korea
- Anglo American - United Kingdom
- London Commodity Brokers - England
- Vijayanagar Sugar Pvt Ltd - India
- Indian Energy Exchange, India
- Global Green Power PLC Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Agrawal Coal Company - India
- Kobexindo Tractors - Indoneisa
- PTC India Limited - India
- Price Waterhouse Coopers - Russia
- Chettinad Cement Corporation Ltd - India
- Barasentosa Lestari - Indonesia
- Ministry of Finance - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bulk Trading Sa - Switzerland
- Tamil Nadu electricity Board
- Cigading International Bulk Terminal - Indonesia
- Sree Jayajothi Cements Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Alfred C Toepfer International GmbH - Germany
- Gujarat Electricity Regulatory Commission - India
- Georgia Ports Authority, United States
- Maheswari Brothers Coal Limited - India
- Trasteel International SA, Italy
- Ind-Barath Power Infra Limited - India
- Meralco Power Generation, Philippines
- Videocon Industries ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Billiton Holdings Pty Ltd - Australia
- Energy Link Ltd, New Zealand
- PowerSource Philippines DevCo
- Kideco Jaya Agung - Indonesia
- Ministry of Mines - Canada
- Romanian Commodities Exchange
- Malabar Cements Ltd - India
- AsiaOL BioFuels Corp., Philippines
- OPG Power Generation Pvt Ltd - India
- Thiess Contractors Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Coalindo Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Mercuria Energy - Indonesia
- Singapore Mercantile Exchange
- Ceylon Electricity Board - Sri Lanka
- Wood Mackenzie - Singapore
- Kepco SPC Power Corporation, Philippines
- Bharathi Cement Corporation - India
- Sical Logistics Limited - India
- Lanco Infratech Ltd - India
- Mintek Dendrill Indonesia
- Globalindo Alam Lestari - Indonesia
- Banpu Public Company Limited - Thailand
- Bukit Makmur.PT - Indonesia
- Coal and Oil Company - UAE
- Interocean Group of Companies - India
- Sindya Power Generating Company Private Ltd
- Carbofer General Trading SA - India
- Indonesian Coal Mining Association
- Orica Australia Pty. Ltd.
- Planning Commission, India
- VISA Power Limited - India
- Iligan Light & Power Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Antam Resourcindo - Indonesia
- Straits Asia Resources Limited - Singapore
- Edison Trading Spa - Italy
- Parliament of New Zealand
- Essar Steel Hazira Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- IHS Mccloskey Coal Group - USA
- Karaikal Port Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Indogreen Group - Indonesia
- Meenaskhi Energy Private Limited - India
- Independent Power Producers Association of India
- Global Business Power Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Kaltim Prima Coal - Indonesia
- MS Steel International - UAE
- LBH Netherlands Bv - Netherlands
- Larsen & Toubro Limited - India
- International Coal Ventures Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Petron Corporation, Philippines
- Vizag Seaport Private Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Merrill Lynch Commodities Europe
- Electricity Authority, New Zealand
- The State Trading Corporation of India Ltd
- Therma Luzon, Inc, Philippines
- Mjunction Services Limited - India
- Marubeni Corporation - India
- Economic Council, Georgia
- Formosa Plastics Group - Taiwan
- South Luzon Thermal Energy Corporation
- Bhushan Steel Limited - India
- Deloitte Consulting - India
- San Jose City I Power Corp, Philippines
- Heidelberg Cement - Germany
- Sakthi Sugars Limited - India
- CIMB Investment Bank - Malaysia
- Australian Coal Association
- Port Waratah Coal Services - Australia
- Xindia Steels Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Gujarat Mineral Development Corp Ltd - India
- GMR Energy Limited - India
- Ambuja Cements Ltd - India
- European Bulk Services B.V. - Netherlands
- Kohat Cement Company Ltd. - Pakistan
- Bahari Cakrawala Sebuku - Indonesia
- Goldman Sachs - Singapore
- Salva Resources Pvt Ltd - India
- Rio Tinto Coal - Australia
- GN Power Mariveles Coal Plant, Philippines
- McConnell Dowell - Australia
- Savvy Resources Ltd - HongKong
- TNB Fuel Sdn Bhd - Malaysia
- Energy Development Corp, Philippines
- Kumho Petrochemical, South Korea
- Vedanta Resources Plc - India
- Siam City Cement - Thailand
- Ministry of Transport, Egypt
- Bhatia International Limited - India
- Metalloyd Limited - United Kingdom
- SMG Consultants - Indonesia
- Global Coal Blending Company Limited - Australia
- Aboitiz Power Corporation - Philippines
- Jaiprakash Power Ventures ltd
- Coastal Gujarat Power Limited - India
- The Treasury - Australian Government
- Uttam Galva Steels Limited - India
- CNBM International Corporation - China
- Power Finance Corporation Ltd., India
- The University of Queensland
- Madhucon Powers Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Miang Besar Coal Terminal - Indonesia
- Oldendorff Carriers - Singapore
- Manunggal Multi Energi - Indonesia
- Mercator Lines Limited - India
- Indo Tambangraya Megah - Indonesia
- Central Java Power - Indonesia
- Borneo Indobara - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Makarim & Taira - Indonesia
- Thai Mozambique Logistica
- IEA Clean Coal Centre - UK
- Kartika Selabumi Mining - Indonesia
- Africa Commodities Group - South Africa
- Indian Oil Corporation Limited
- Sarangani Energy Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Sojitz Corporation - Japan
- Directorate General of MIneral and Coal - Indonesia
- Minerals Council of Australia
- Eastern Energy - Thailand
- Bayan Resources Tbk. - Indonesia
- Cement Manufacturers Association - India
- Medco Energi Mining Internasional
- Neyveli Lignite Corporation Ltd, - India
- Kalimantan Lumbung Energi - Indonesia
- Semirara Mining Corp, Philippines
- Intertek Mineral Services - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Krishnapatnam Port Company Ltd. - India
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