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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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- TeaM Sual Corporation - Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Miang Besar Coal Terminal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Coal and Oil Company - UAE
- Iligan Light & Power Inc, Philippines
- Cement Manufacturers Association - India
- Bhoruka Overseas - Indonesia
- Sree Jayajothi Cements Limited - India
- Samtan Co., Ltd - South Korea
- Bangladesh Power Developement Board
- Kartika Selabumi Mining - Indonesia
- The Treasury - Australian Government
- European Bulk Services B.V. - Netherlands
- Baramulti Group, Indonesia
- Planning Commission, India
- The State Trading Corporation of India Ltd
- Mercator Lines Limited - India
- Parliament of New Zealand
- SMG Consultants - Indonesia
- San Jose City I Power Corp, Philippines
- Heidelberg Cement - Germany
- Merrill Lynch Commodities Europe
- Globalindo Alam Lestari - Indonesia
- Attock Cement Pakistan Limited
- Sakthi Sugars Limited - India
- Vizag Seaport Private Limited - India
- CIMB Investment Bank - Malaysia
- Sical Logistics Limited - India
- GAC Shipping (India) Pvt Ltd
- AsiaOL BioFuels Corp., Philippines
- Makarim & Taira - Indonesia
- International Coal Ventures Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Pendopo Energi Batubara - Indonesia
- Larsen & Toubro Limited - India
- Interocean Group of Companies - India
- Bulk Trading Sa - Switzerland
- Oldendorff Carriers - Singapore
- GVK Power & Infra Limited - India
- Gujarat Sidhee Cement - India
- SN Aboitiz Power Inc, Philippines
- Coastal Gujarat Power Limited - India
- Standard Chartered Bank - UAE
- PNOC Exploration Corporation - Philippines
- Ceylon Electricity Board - Sri Lanka
- Mintek Dendrill Indonesia
- Tata Chemicals Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Wood Mackenzie - Singapore
- Electricity Authority, New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- Alfred C Toepfer International GmbH - Germany
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indogreen Group - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Sojitz Corporation - Japan
- Vedanta Resources Plc - India
- Banpu Public Company Limited - Thailand
- Riau Bara Harum - Indonesia
- White Energy Company Limited
- London Commodity Brokers - England
- Meralco Power Generation, Philippines
- Aboitiz Power Corporation - Philippines
- Price Waterhouse Coopers - Russia
- Deloitte Consulting - India
- Star Paper Mills Limited - India
- Australian Commodity Traders Exchange
- The University of Queensland
- Krishnapatnam Port Company Ltd. - India
- Georgia Ports Authority, United States
- Ind-Barath Power Infra Limited - India
- Karaikal Port Pvt Ltd - India
- PTC India Limited - India
- Economic Council, Georgia
- Kobexindo Tractors - Indoneisa
- Salva Resources Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Cigading International Bulk Terminal - Indonesia
- Electricity Generating Authority of Thailand
- Marubeni Corporation - India
- Indonesian Coal Mining Association
- Holcim Trading Pte Ltd - Singapore
- India Bulls Power Limited - India
- Thiess Contractors Indonesia
- Port Waratah Coal Services - Australia
- Rashtriya Ispat Nigam Limited - India
- MS Steel International - UAE
- Neyveli Lignite Corporation Ltd, - India
- Maheswari Brothers Coal Limited - India
- Kepco SPC Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Eastern Coal Council - USA
- Formosa Plastics Group - Taiwan
- Asmin Koalindo Tuhup - Indonesia
- Bukit Makmur.PT - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Xindia Steels Limited - India
- Goldman Sachs - Singapore
- Power Finance Corporation Ltd., India
- Meenaskhi Energy Private Limited - India
- Binh Thuan Hamico - Vietnam
- Ambuja Cements Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Borneo Indobara - Indonesia
- Global Green Power PLC Corporation, Philippines
- New Zealand Coal & Carbon
- Bukit Baiduri Energy - Indonesia
- Lanco Infratech Ltd - India
- LBH Netherlands Bv - Netherlands
- Indian Oil Corporation Limited
- South Luzon Thermal Energy Corporation
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kumho Petrochemical, South Korea
- Coalindo Energy - Indonesia
- Malabar Cements Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PowerSource Philippines DevCo
- VISA Power Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Minerals Council of Australia
- Anglo American - United Kingdom
- Energy Development Corp, Philippines
- Orica Mining Services - Indonesia
- Aditya Birla Group - India
- Essar Steel Hazira Ltd - India
- Trasteel International SA, Italy
- Ministry of Finance - Indonesia
- Global Business Power Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Carbofer General Trading SA - India
- Eastern Energy - Thailand
- Renaissance Capital - South Africa
- ICICI Bank Limited - India
- Rio Tinto Coal - Australia
- Indian Energy Exchange, India
- Karbindo Abesyapradhi - Indoneisa
- Bharathi Cement Corporation - India
- IEA Clean Coal Centre - UK
- Romanian Commodities Exchange
- Savvy Resources Ltd - HongKong
- Central Electricity Authority - India
- Jaiprakash Power Ventures ltd
- Commonwealth Bank - Australia
- Wilmar Investment Holdings
- SMC Global Power, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Africa Commodities Group - South Africa
- Independent Power Producers Association of India
- Siam City Cement - Thailand
- Agrawal Coal Company - India
- Indika Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Therma Luzon, Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- Posco Energy - South Korea
- Pipit Mutiara Jaya. PT, Indonesia
- Central Java Power - Indonesia
- Barasentosa Lestari - Indonesia
- Siam City Cement PLC, Thailand
- Kalimantan Lumbung Energi - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Dalmia Cement Bharat India
- Ministry of Transport, Egypt
- Bukit Asam (Persero) Tbk - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Edison Trading Spa - Italy
- Toyota Tsusho Corporation, Japan
- Energy Link Ltd, New Zealand
- PetroVietnam Power Coal Import and Supply Company
- Bhatia International Limited - India
- IHS Mccloskey Coal Group - USA
- CNBM International Corporation - China
- Kaltim Prima Coal - Indonesia
- Bayan Resources Tbk. - Indonesia
- McConnell Dowell - Australia
- Parry Sugars Refinery, India
- Bhushan Steel Limited - India
- Metalloyd Limited - United Kingdom
- ASAPP Information Group - India
- Latin American Coal - Colombia
- Altura Mining Limited, Indonesia
- Tamil Nadu electricity Board
- Kideco Jaya Agung - Indonesia
- Medco Energi Mining Internasional
- Timah Investasi Mineral - Indoneisa
- Thai Mozambique Logistica
- Chamber of Mines of South Africa
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Mines - Canada
- Mercuria Energy - Indonesia
- Uttam Galva Steels Limited - India
- Mjunction Services Limited - India
- Intertek Mineral Services - Indonesia
- Videocon Industries ltd - India
- Australian Coal Association
- Sarangani Energy Corporation, Philippines
- Orica Australia Pty. Ltd.
- Maharashtra Electricity Regulatory Commission - India
- Grasim Industreis Ltd - India
- OPG Power Generation Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Chettinad Cement Corporation Ltd - India
- Straits Asia Resources Limited - Singapore
- Petron Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Leighton Contractors Pty Ltd - Australia
- Madhucon Powers Ltd - India
- GMR Energy Limited - India
- Singapore Mercantile Exchange
- Directorate Of Revenue Intelligence - India
- Billiton Holdings Pty Ltd - Australia
- Jindal Steel & Power Ltd - India
- Gujarat Electricity Regulatory Commission - India
- TNB Fuel Sdn Bhd - Malaysia
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