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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, 17 April 19
LNG WESTERN AFRICA CONFERENCE 2019
The only LNG Focus Platform to Accelerate Investment and Cooperation in Western African Countries
LNG Western Africa Conference 2019 ...
Saturday, 13 April 19
IMO 2020 - DON'T SCRUB IT! - IVAR MYKLEBUST
KNOWLEDGE TO ELEVATE
Höegh Autoliners stands firm on its decision not to implement scrubbers but comply with the IMO 2020 regulations by ...
Saturday, 13 April 19
CAPESIZE: WEST AUSTRALIA TO CHINA IRON ORE CARGOES LIFTING FROM $4.60 PMT TO ABOVE $5.00 - BALTIC BRIEFING
Capesize
The market saw a steep ascent from the depths of last week. The Baltic Capesize Index (BCI) 5TC opened on Monday at $5,099, although b ...
Friday, 12 April 19
OIL MARKET REPORT: MIXED SIGNALS - IEA
The huge increase in oil production we saw in 2H18 has reversed following the implementation of the new Vienna Agreement and the increasing effecti ...
Friday, 12 April 19
OFFSHORE MENA CONGRESS 2019
Offshore MENA Congress 2019
Event Date : 11-12th Jun. 2019
Location : Cairo, Egypt
Offshore MENA Congress 2019 Offshor ...
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- Vedanta Resources Plc - India
- Directorate Of Revenue Intelligence - India
- Vijayanagar Sugar Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Kideco Jaya Agung - Indonesia
- Tamil Nadu electricity Board
- PNOC Exploration Corporation - Philippines
- Australian Coal Association
- Minerals Council of Australia
- Marubeni Corporation - India
- Petrochimia International Co. Ltd.- Taiwan
- IEA Clean Coal Centre - UK
- Therma Luzon, Inc, Philippines
- Mercuria Energy - Indonesia
- Central Electricity Authority - India
- Indonesian Coal Mining Association
- Sinarmas Energy and Mining - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Straits Asia Resources Limited - Singapore
- Eastern Energy - Thailand
- Romanian Commodities Exchange
- Ceylon Electricity Board - Sri Lanka
- Port Waratah Coal Services - Australia
- Mintek Dendrill Indonesia
- Altura Mining Limited, Indonesia
- Electricity Generating Authority of Thailand
- The State Trading Corporation of India Ltd
- India Bulls Power Limited - India
- Standard Chartered Bank - UAE
- GVK Power & Infra Limited - India
- Tata Chemicals Ltd - India
- Coastal Gujarat Power Limited - India
- ASAPP Information Group - India
- Siam City Cement - Thailand
- Kepco SPC Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ind-Barath Power Infra Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Formosa Plastics Group - Taiwan
- Agrawal Coal Company - India
- Orica Mining Services - Indonesia
- VISA Power Limited - India
- Pendopo Energi Batubara - Indonesia
- Anglo American - United Kingdom
- Uttam Galva Steels Limited - India
- Bayan Resources Tbk. - Indonesia
- Sarangani Energy Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Billiton Holdings Pty Ltd - Australia
- The Treasury - Australian Government
- Eastern Coal Council - USA
- Kapuas Tunggal Persada - Indonesia
- Latin American Coal - Colombia
- Global Business Power Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GMR Energy Limited - India
- IHS Mccloskey Coal Group - USA
- SMC Global Power, Philippines
- Medco Energi Mining Internasional
- Krishnapatnam Port Company Ltd. - India
- Timah Investasi Mineral - Indoneisa
- Commonwealth Bank - Australia
- Coalindo Energy - Indonesia
- White Energy Company Limited
- AsiaOL BioFuels Corp., Philippines
- Kobexindo Tractors - Indoneisa
- Banpu Public Company Limited - Thailand
- Riau Bara Harum - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Iligan Light & Power Inc, Philippines
- Thiess Contractors Indonesia
- Interocean Group of Companies - India
- Cigading International Bulk Terminal - Indonesia
- Price Waterhouse Coopers - Russia
- Toyota Tsusho Corporation, Japan
- Jorong Barutama Greston.PT - Indonesia
- Chettinad Cement Corporation Ltd - India
- Global Green Power PLC Corporation, Philippines
- Gujarat Sidhee Cement - India
- PTC India Limited - India
- Malabar Cements Ltd - India
- Rio Tinto Coal - Australia
- Bukit Makmur.PT - Indonesia
- Intertek Mineral Services - Indonesia
- Jaiprakash Power Ventures ltd
- Carbofer General Trading SA - India
- Bhushan Steel Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Manunggal Multi Energi - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Sindya Power Generating Company Private Ltd
- Petron Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- TeaM Sual Corporation - Philippines
- Oldendorff Carriers - Singapore
- Cement Manufacturers Association - India
- Gujarat Mineral Development Corp Ltd - India
- Barasentosa Lestari - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Aboitiz Power Corporation - Philippines
- Globalindo Alam Lestari - Indonesia
- Videocon Industries ltd - India
- Africa Commodities Group - South Africa
- Jindal Steel & Power Ltd - India
- Borneo Indobara - Indonesia
- Larsen & Toubro Limited - India
- Bukit Baiduri Energy - Indonesia
- Thai Mozambique Logistica
- Savvy Resources Ltd - HongKong
- Central Java Power - Indonesia
- Electricity Authority, New Zealand
- Sree Jayajothi Cements Limited - India
- The University of Queensland
- Orica Australia Pty. Ltd.
- Independent Power Producers Association of India
- Bangladesh Power Developement Board
- Metalloyd Limited - United Kingdom
- Ambuja Cements Ltd - India
- Parliament of New Zealand
- GN Power Mariveles Coal Plant, Philippines
- Coal and Oil Company - UAE
- Salva Resources Pvt Ltd - India
- Ministry of Finance - Indonesia
- Sakthi Sugars Limited - India
- Energy Link Ltd, New Zealand
- Kohat Cement Company Ltd. - Pakistan
- Bulk Trading Sa - Switzerland
- Wilmar Investment Holdings
- Mercator Lines Limited - India
- Deloitte Consulting - India
- Vizag Seaport Private Limited - India
- Merrill Lynch Commodities Europe
- Georgia Ports Authority, United States
- Australian Commodity Traders Exchange
- CIMB Investment Bank - Malaysia
- Madhucon Powers Ltd - India
- Trasteel International SA, Italy
- Sojitz Corporation - Japan
- Bukit Asam (Persero) Tbk - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Essar Steel Hazira Ltd - India
- Sical Logistics Limited - India
- London Commodity Brokers - England
- Heidelberg Cement - Germany
- Attock Cement Pakistan Limited
- Singapore Mercantile Exchange
- Mjunction Services Limited - India
- Indika Energy - Indonesia
- Star Paper Mills Limited - India
- Wood Mackenzie - Singapore
- Aditya Birla Group - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kaltim Prima Coal - Indonesia
- International Coal Ventures Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Siam City Cement PLC, Thailand
- Renaissance Capital - South Africa
- Bhoruka Overseas - Indonesia
- Goldman Sachs - Singapore
- Xindia Steels Limited - India
- Bhatia International Limited - India
- PowerSource Philippines DevCo
- Dalmia Cement Bharat India
- Baramulti Group, Indonesia
- OPG Power Generation Pvt Ltd - India
- Parry Sugars Refinery, India
- MS Steel International - UAE
- Edison Trading Spa - Italy
- Miang Besar Coal Terminal - Indonesia
- South Luzon Thermal Energy Corporation
- Ministry of Mines - Canada
- CNBM International Corporation - China
- Simpson Spence & Young - Indonesia
- Energy Development Corp, Philippines
- Maheswari Brothers Coal Limited - India
- Lanco Infratech Ltd - India
- Power Finance Corporation Ltd., India
- Global Coal Blending Company Limited - Australia
- New Zealand Coal & Carbon
- Samtan Co., Ltd - South Korea
- SN Aboitiz Power Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- Indogreen Group - Indonesia
- ICICI Bank Limited - India
- Chamber of Mines of South Africa
- Planning Commission, India
- Semirara Mining Corp, Philippines
- San Jose City I Power Corp, Philippines
- Ministry of Transport, Egypt
- Posco Energy - South Korea
- Binh Thuan Hamico - Vietnam
- PetroVietnam Power Coal Import and Supply Company
- Gujarat Electricity Regulatory Commission - India
- Economic Council, Georgia
- Pipit Mutiara Jaya. PT, Indonesia
- Antam Resourcindo - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indian Energy Exchange, India
- Semirara Mining and Power Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Meralco Power Generation, Philippines
- Grasim Industreis Ltd - India
- Kumho Petrochemical, South Korea
- Meenaskhi Energy Private Limited - India
- Rashtriya Ispat Nigam Limited - India
- LBH Netherlands Bv - Netherlands
- Indian Oil Corporation Limited
- Neyveli Lignite Corporation Ltd, - India
- Makarim & Taira - Indonesia
- Kartika Selabumi Mining - Indonesia
- Karaikal Port Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Bharathi Cement Corporation - India
- McConnell Dowell - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- SMG Consultants - Indonesia
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