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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, 22 December 22
RUSSIAN OIL EXPORTS CRATER BY 54% IN THE FIRST FULL WEEK OF THE EU'S EMBARGO AMID A SHORTAGE OF TANKERS WILLING TO CARRY CARGOES - BUSINESS INSIDER
Since the European Union imposed its seaborne crude sanctions, Russian oil exports have tumbled by more than half, according to data compiled by Bl ...
Thursday, 22 December 22
CHINA TIGHTENS VERIFICATION OF SHIPS’ ENERGY CONSUMPTION DATA - GARD
From 22 December 2022, ships trading to Chinese ports must record their energy consumption data in accordance with the requirements of their Ship E ...
Thursday, 22 December 22
AN OVERVIEW OF THE LNG MARKET - VESSELSVALUE
LNG values have continued to strengthen, spurred by skyrocketing earnings that have surpassed last year’s record breaking peaks. In November, ...
Thursday, 22 December 22
COKING COAL SLUMPS AS TALKS ON AUSTRALIA-CHINA TRADE RIFT LOOM - REUTERS
Chinese coking coal futures dropped more than 3 per cent on Tuesday (Dec 20), extending losses, as supply of the steelmaking input might increase i ...
Thursday, 22 December 22
COAL AND GAS PRICE CAPS MAY COMPOUND POLITICAL RISK FOR AUSTRALIAN CORPORATES - FITCH RATINGS
Australia’s introduction of temporary price caps on domestic sales of gas and coal used for electricity generation will probably have limited ...
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- Merrill Lynch Commodities Europe
- Global Business Power Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Karaikal Port Pvt Ltd - India
- Indian Oil Corporation Limited
- Kohat Cement Company Ltd. - Pakistan
- India Bulls Power Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- ASAPP Information Group - India
- Thiess Contractors Indonesia
- Bharathi Cement Corporation - India
- Eastern Coal Council - USA
- Marubeni Corporation - India
- Maharashtra Electricity Regulatory Commission - India
- Indogreen Group - Indonesia
- IEA Clean Coal Centre - UK
- Carbofer General Trading SA - India
- Edison Trading Spa - Italy
- Kobexindo Tractors - Indoneisa
- San Jose City I Power Corp, Philippines
- Anglo American - United Kingdom
- International Coal Ventures Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Billiton Holdings Pty Ltd - Australia
- New Zealand Coal & Carbon
- Barasentosa Lestari - Indonesia
- McConnell Dowell - Australia
- Singapore Mercantile Exchange
- Ind-Barath Power Infra Limited - India
- SN Aboitiz Power Inc, Philippines
- Jindal Steel & Power Ltd - India
- Electricity Generating Authority of Thailand
- Indika Energy - Indonesia
- Baramulti Group, Indonesia
- White Energy Company Limited
- Bhoruka Overseas - Indonesia
- VISA Power Limited - India
- LBH Netherlands Bv - Netherlands
- Coalindo Energy - Indonesia
- Grasim Industreis Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Riau Bara Harum - Indonesia
- Pendopo Energi Batubara - Indonesia
- Ministry of Finance - Indonesia
- GMR Energy Limited - India
- Toyota Tsusho Corporation, Japan
- Indonesian Coal Mining Association
- TNB Fuel Sdn Bhd - Malaysia
- Sree Jayajothi Cements Limited - India
- IHS Mccloskey Coal Group - USA
- Ambuja Cements Ltd - India
- Latin American Coal - Colombia
- Semirara Mining Corp, Philippines
- Coal and Oil Company - UAE
- Xindia Steels Limited - India
- Sakthi Sugars Limited - India
- Banpu Public Company Limited - Thailand
- Chettinad Cement Corporation Ltd - India
- Medco Energi Mining Internasional
- Lanco Infratech Ltd - India
- Electricity Authority, New Zealand
- Siam City Cement - Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Eastern Energy - Thailand
- The State Trading Corporation of India Ltd
- Ministry of Transport, Egypt
- Mjunction Services Limited - India
- Bukit Makmur.PT - Indonesia
- GAC Shipping (India) Pvt Ltd
- Videocon Industries ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Kaltim Prima Coal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Wilmar Investment Holdings
- European Bulk Services B.V. - Netherlands
- Neyveli Lignite Corporation Ltd, - India
- Straits Asia Resources Limited - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bhushan Steel Limited - India
- Savvy Resources Ltd - HongKong
- Vijayanagar Sugar Pvt Ltd - India
- Orica Mining Services - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Energy Link Ltd, New Zealand
- Intertek Mineral Services - Indonesia
- Power Finance Corporation Ltd., India
- Semirara Mining and Power Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Kapuas Tunggal Persada - Indonesia
- Larsen & Toubro Limited - India
- Mercuria Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Orica Australia Pty. Ltd.
- Therma Luzon, Inc, Philippines
- TeaM Sual Corporation - Philippines
- Posco Energy - South Korea
- Mintek Dendrill Indonesia
- Deloitte Consulting - India
- Thai Mozambique Logistica
- Rashtriya Ispat Nigam Limited - India
- SMG Consultants - Indonesia
- Uttam Galva Steels Limited - India
- Indian Energy Exchange, India
- Interocean Group of Companies - India
- Bhatia International Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Timah Investasi Mineral - Indoneisa
- CNBM International Corporation - China
- London Commodity Brokers - England
- Gujarat Sidhee Cement - India
- Star Paper Mills Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Africa Commodities Group - South Africa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Oldendorff Carriers - Singapore
- Australian Coal Association
- Aboitiz Power Corporation - Philippines
- Trasteel International SA, Italy
- Makarim & Taira - Indonesia
- Tata Chemicals Ltd - India
- Bukit Baiduri Energy - Indonesia
- Bangladesh Power Developement Board
- Bulk Trading Sa - Switzerland
- GVK Power & Infra Limited - India
- Meralco Power Generation, Philippines
- Borneo Indobara - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Petron Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Holcim Trading Pte Ltd - Singapore
- Port Waratah Coal Services - Australia
- Leighton Contractors Pty Ltd - Australia
- Malabar Cements Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Parry Sugars Refinery, India
- Central Electricity Authority - India
- Iligan Light & Power Inc, Philippines
- Metalloyd Limited - United Kingdom
- SMC Global Power, Philippines
- Mercator Lines Limited - India
- Romanian Commodities Exchange
- Bahari Cakrawala Sebuku - Indonesia
- Altura Mining Limited, Indonesia
- Sinarmas Energy and Mining - Indonesia
- Maheswari Brothers Coal Limited - India
- Minerals Council of Australia
- Standard Chartered Bank - UAE
- Australian Commodity Traders Exchange
- PNOC Exploration Corporation - Philippines
- Salva Resources Pvt Ltd - India
- Chamber of Mines of South Africa
- Vedanta Resources Plc - India
- Binh Thuan Hamico - Vietnam
- Planning Commission, India
- PowerSource Philippines DevCo
- Tamil Nadu electricity Board
- Agrawal Coal Company - India
- Energy Development Corp, Philippines
- Price Waterhouse Coopers - Russia
- The University of Queensland
- Directorate Of Revenue Intelligence - India
- Sarangani Energy Corporation, Philippines
- Parliament of New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- Georgia Ports Authority, United States
- Alfred C Toepfer International GmbH - Germany
- Jorong Barutama Greston.PT - Indonesia
- Kepco SPC Power Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Globalindo Alam Lestari - Indonesia
- Kartika Selabumi Mining - Indonesia
- Indo Tambangraya Megah - Indonesia
- Wood Mackenzie - Singapore
- CIMB Investment Bank - Malaysia
- Sical Logistics Limited - India
- Essar Steel Hazira Ltd - India
- ICICI Bank Limited - India
- Independent Power Producers Association of India
- Global Coal Blending Company Limited - Australia
- Formosa Plastics Group - Taiwan
- Meenaskhi Energy Private Limited - India
- Madhucon Powers Ltd - India
- Bayan Resources Tbk. - Indonesia
- Manunggal Multi Energi - Indonesia
- Heidelberg Cement - Germany
- Cement Manufacturers Association - India
- Pipit Mutiara Jaya. PT, Indonesia
- Antam Resourcindo - Indonesia
- Rio Tinto Coal - Australia
- The Treasury - Australian Government
- Vizag Seaport Private Limited - India
- Cigading International Bulk Terminal - Indonesia
- Aditya Birla Group - India
- Commonwealth Bank - Australia
- Global Green Power PLC Corporation, Philippines
- Goldman Sachs - Singapore
- Sindya Power Generating Company Private Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Central Java Power - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Attock Cement Pakistan Limited
- PTC India Limited - India
- Kideco Jaya Agung - Indonesia
- Economic Council, Georgia
- Karbindo Abesyapradhi - Indoneisa
- Ministry of Mines - Canada
- MS Steel International - UAE
- Renaissance Capital - South Africa
- Dalmia Cement Bharat India
- Siam City Cement PLC, Thailand
- Gujarat Mineral Development Corp Ltd - India
- South Luzon Thermal Energy Corporation
- Sojitz Corporation - Japan
- Gujarat Electricity Regulatory Commission - India
- Asmin Koalindo Tuhup - Indonesia
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