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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, 06 April 19
SUPRAMAX: IT WAS A POOR WEEK OVERALL FOR THE BALTIC SUPRAMAX INDEX, WHICH LOST GROUND - BALTIC BRIEFING
Capesize
The Capesize market over the past week looked to have found a floor on Tuesday with the BCI 5TC at $3460 before firming into the rest ...
Thursday, 04 April 19
OVERSUPPLY STILL MAJOR CHALLENGE WARNS ICS
Speaking in Istanbul, Simon Bennett, Deputy Secretary General of the International Chamber of Shipping (ICS) warned that avoiding overcapacity and ...
Thursday, 04 April 19
GLENCORE, TOHOKU ELECTRIC SET COAL CONTRACT PRICE AT $94.75/T - SOURCE, REUTERS REPORTED
Global miner Glencore and Japan’s Tohoku Electric Power agreed on a price of $94.75 per tonne for supplies of thermal coal from Australia for ...
Monday, 01 April 19
FORCE MAJEURE SUCCESS NOT A SEA CHANGE - BALTIC EXCHANGE
KNOWLEDGE TO ELEVATE
It is difficult to successfully argue that contractual performance has been prevented or delayed by force majeure. This i ...
Monday, 01 April 19
AUSTRALIAN COAL AT RISK FROM CHINA MOVE, WARNS GOVERNMENT REPORT - SYDNEY MORNING HERALD
A new government report warns China’s restrictions on coal imports is the number one risk for Australian coal this year and could lead to a s ...
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- Dalmia Cement Bharat India
- IEA Clean Coal Centre - UK
- Price Waterhouse Coopers - Russia
- Madhucon Powers Ltd - India
- Mintek Dendrill Indonesia
- Singapore Mercantile Exchange
- Directorate Of Revenue Intelligence - India
- Ministry of Mines - Canada
- Jindal Steel & Power Ltd - India
- Malabar Cements Ltd - India
- Uttam Galva Steels Limited - India
- Globalindo Alam Lestari - Indonesia
- Standard Chartered Bank - UAE
- Kapuas Tunggal Persada - Indonesia
- CNBM International Corporation - China
- Coastal Gujarat Power Limited - India
- The Treasury - Australian Government
- Mjunction Services Limited - India
- European Bulk Services B.V. - Netherlands
- Petrochimia International Co. Ltd.- Taiwan
- Heidelberg Cement - Germany
- Billiton Holdings Pty Ltd - Australia
- The University of Queensland
- Offshore Bulk Terminal Pte Ltd, Singapore
- Trasteel International SA, Italy
- Sinarmas Energy and Mining - Indonesia
- Vizag Seaport Private Limited - India
- Sakthi Sugars Limited - India
- Indo Tambangraya Megah - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Electricity Generating Authority of Thailand
- Makarim & Taira - Indonesia
- Altura Mining Limited, Indonesia
- Agrawal Coal Company - India
- Meralco Power Generation, Philippines
- VISA Power Limited - India
- AsiaOL BioFuels Corp., Philippines
- India Bulls Power Limited - India
- The State Trading Corporation of India Ltd
- Eastern Energy - Thailand
- Coal and Oil Company - UAE
- SMC Global Power, Philippines
- Aboitiz Power Corporation - Philippines
- Bhoruka Overseas - Indonesia
- Ind-Barath Power Infra Limited - India
- Aditya Birla Group - India
- Bukit Makmur.PT - Indonesia
- Siam City Cement - Thailand
- Siam City Cement PLC, Thailand
- Australian Commodity Traders Exchange
- Gujarat Sidhee Cement - India
- Star Paper Mills Limited - India
- International Coal Ventures Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Holcim Trading Pte Ltd - Singapore
- Riau Bara Harum - Indonesia
- TeaM Sual Corporation - Philippines
- Thiess Contractors Indonesia
- Edison Trading Spa - Italy
- Coalindo Energy - Indonesia
- Power Finance Corporation Ltd., India
- Goldman Sachs - Singapore
- Maheswari Brothers Coal Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Banpu Public Company Limited - Thailand
- Indika Energy - Indonesia
- Romanian Commodities Exchange
- Chamber of Mines of South Africa
- PNOC Exploration Corporation - Philippines
- ICICI Bank Limited - India
- Minerals Council of Australia
- Gujarat Mineral Development Corp Ltd - India
- Planning Commission, India
- Rio Tinto Coal - Australia
- Deloitte Consulting - India
- Sojitz Corporation - Japan
- Jorong Barutama Greston.PT - Indonesia
- Jaiprakash Power Ventures ltd
- McConnell Dowell - Australia
- Pendopo Energi Batubara - Indonesia
- Attock Cement Pakistan Limited
- Ceylon Electricity Board - Sri Lanka
- Meenaskhi Energy Private Limited - India
- Commonwealth Bank - Australia
- Bhatia International Limited - India
- Metalloyd Limited - United Kingdom
- CIMB Investment Bank - Malaysia
- Salva Resources Pvt Ltd - India
- Petron Corporation, Philippines
- Baramulti Group, Indonesia
- Global Coal Blending Company Limited - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mercuria Energy - Indonesia
- Orica Australia Pty. Ltd.
- Bukit Baiduri Energy - Indonesia
- Semirara Mining Corp, Philippines
- Georgia Ports Authority, United States
- Merrill Lynch Commodities Europe
- Barasentosa Lestari - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Indian Energy Exchange, India
- Medco Energi Mining Internasional
- Vijayanagar Sugar Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Independent Power Producers Association of India
- Ministry of Transport, Egypt
- Neyveli Lignite Corporation Ltd, - India
- White Energy Company Limited
- TNB Fuel Sdn Bhd - Malaysia
- SMG Consultants - Indonesia
- Carbofer General Trading SA - India
- Therma Luzon, Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Karbindo Abesyapradhi - Indoneisa
- Mercator Lines Limited - India
- Global Business Power Corporation, Philippines
- Ambuja Cements Ltd - India
- Central Java Power - Indonesia
- New Zealand Coal & Carbon
- Manunggal Multi Energi - Indonesia
- Essar Steel Hazira Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PTC India Limited - India
- Tata Chemicals Ltd - India
- Samtan Co., Ltd - South Korea
- PetroVietnam Power Coal Import and Supply Company
- Posco Energy - South Korea
- Antam Resourcindo - Indonesia
- Savvy Resources Ltd - HongKong
- Bayan Resources Tbk. - Indonesia
- Timah Investasi Mineral - Indoneisa
- PowerSource Philippines DevCo
- Orica Mining Services - Indonesia
- Sarangani Energy Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Binh Thuan Hamico - Vietnam
- Parliament of New Zealand
- Ministry of Finance - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Cement Manufacturers Association - India
- Latin American Coal - Colombia
- Kartika Selabumi Mining - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Semirara Mining and Power Corporation, Philippines
- Larsen & Toubro Limited - India
- Kideco Jaya Agung - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Indian Oil Corporation Limited
- Karaikal Port Pvt Ltd - India
- Thai Mozambique Logistica
- Africa Commodities Group - South Africa
- Oldendorff Carriers - Singapore
- Kobexindo Tractors - Indoneisa
- Indonesian Coal Mining Association
- MS Steel International - UAE
- Central Electricity Authority - India
- Australian Coal Association
- Bulk Trading Sa - Switzerland
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- London Commodity Brokers - England
- Port Waratah Coal Services - Australia
- South Luzon Thermal Energy Corporation
- Energy Development Corp, Philippines
- Marubeni Corporation - India
- Pipit Mutiara Jaya. PT, Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Bhushan Steel Limited - India
- Vedanta Resources Plc - India
- Indogreen Group - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Grasim Industreis Ltd - India
- Wilmar Investment Holdings
- San Jose City I Power Corp, Philippines
- Xindia Steels Limited - India
- Simpson Spence & Young - Indonesia
- Iligan Light & Power Inc, Philippines
- ASAPP Information Group - India
- GAC Shipping (India) Pvt Ltd
- Electricity Authority, New Zealand
- Parry Sugars Refinery, India
- GMR Energy Limited - India
- Interocean Group of Companies - India
- Energy Link Ltd, New Zealand
- Formosa Plastics Group - Taiwan
- Kepco SPC Power Corporation, Philippines
- Wood Mackenzie - Singapore
- Borneo Indobara - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Lanco Infratech Ltd - India
- Sree Jayajothi Cements Limited - India
- Sical Logistics Limited - India
- Kumho Petrochemical, South Korea
- GVK Power & Infra Limited - India
- Eastern Coal Council - USA
- Global Green Power PLC Corporation, Philippines
- Videocon Industries ltd - India
- Economic Council, Georgia
- Toyota Tsusho Corporation, Japan
- Renaissance Capital - South Africa
- OPG Power Generation Pvt Ltd - India
- Bharathi Cement Corporation - India
- IHS Mccloskey Coal Group - USA
- Intertek Mineral Services - Indonesia
- Anglo American - United Kingdom
- Tamil Nadu electricity Board
- Bangladesh Power Developement Board
- Rashtriya Ispat Nigam Limited - India
- Straits Asia Resources Limited - Singapore
- LBH Netherlands Bv - Netherlands
- Alfred C Toepfer International GmbH - Germany
- Sindya Power Generating Company Private Ltd
- Bahari Cakrawala Sebuku - Indonesia
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