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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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Tuesday, 26 June 18
A SHARP RISE IN THE PRICE OF CRUDE OIL WAS TO BE SEEN ON FRIDAY, ITS BIGGEST DAILY GAIN IN TWO YEARS - GEORGE LAZARIDIS
A sharp rise in the price of crude oil was to be seen on Friday, its biggest daily gain in two years, as OPEC reached a deal to raise output. Despi ...
Monday, 25 June 18
AUSTRALIA'S NEWCASTLE PORT SHIPPED 12.179 MT OF COAL IN MAY; DOWN 14.77% M/M
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export port has shipped $AU1,453.6 Mi ...
Monday, 25 June 18
COAL IN THE CROSSFIRE: CHINESE TRADERS WARY OF BEING BURNT BY TRADE WAR - REUTERS
At least three U.S. coal shipments on their way to China may end up casualties of the escalating trade dispute after Beijing said it would impose s ...
Saturday, 23 June 18
COAL GROUP TARGETS 9 PER CENT REVENUE SPIKE - VIET NAM NEWS
Viet Nam News reported, the Viet Nam National Coal and Mineral Industries Group (Vinacomin or TKV) is targeting VNĐ116.9 trillion (US$5.1 billion) ...
Thursday, 21 June 18
ROBUST ASIAN THERMAL COAL DEMAND CREATES OPPORTUNITIES FOR AUSTRALIA - MINERALS COUNCIL OF AUSTRALIA
Minerals Council of Australia reported, Australia’s world-class coal mining industry can create more jobs in Australia and strengthen t ...
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- Offshore Bulk Terminal Pte Ltd, Singapore
- Port Waratah Coal Services - Australia
- Global Business Power Corporation, Philippines
- Bangladesh Power Developement Board
- PetroVietnam Power Coal Import and Supply Company
- Central Java Power - Indonesia
- Kobexindo Tractors - Indoneisa
- Kumho Petrochemical, South Korea
- Coal and Oil Company - UAE
- Independent Power Producers Association of India
- TNB Fuel Sdn Bhd - Malaysia
- Bhatia International Limited - India
- Toyota Tsusho Corporation, Japan
- Australian Commodity Traders Exchange
- Indika Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Asmin Koalindo Tuhup - Indonesia
- Ind-Barath Power Infra Limited - India
- McConnell Dowell - Australia
- Chettinad Cement Corporation Ltd - India
- Kepco SPC Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Global Coal Blending Company Limited - Australia
- Eastern Coal Council - USA
- Samtan Co., Ltd - South Korea
- Bukit Asam (Persero) Tbk - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Energy Development Corp, Philippines
- Semirara Mining Corp, Philippines
- Latin American Coal - Colombia
- Bhoruka Overseas - Indonesia
- Pendopo Energi Batubara - Indonesia
- Intertek Mineral Services - Indonesia
- Australian Coal Association
- Posco Energy - South Korea
- Jaiprakash Power Ventures ltd
- LBH Netherlands Bv - Netherlands
- Borneo Indobara - Indonesia
- Parliament of New Zealand
- Mintek Dendrill Indonesia
- Ambuja Cements Ltd - India
- Grasim Industreis Ltd - India
- Xindia Steels Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- GVK Power & Infra Limited - India
- VISA Power Limited - India
- Thiess Contractors Indonesia
- Bukit Baiduri Energy - Indonesia
- TeaM Sual Corporation - Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Makarim & Taira - Indonesia
- Meenaskhi Energy Private Limited - India
- Heidelberg Cement - Germany
- Kapuas Tunggal Persada - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Meralco Power Generation, Philippines
- Tamil Nadu electricity Board
- Iligan Light & Power Inc, Philippines
- Africa Commodities Group - South Africa
- Mercator Lines Limited - India
- South Luzon Thermal Energy Corporation
- Cement Manufacturers Association - India
- Baramulti Group, Indonesia
- Krishnapatnam Port Company Ltd. - India
- Metalloyd Limited - United Kingdom
- Directorate General of MIneral and Coal - Indonesia
- Romanian Commodities Exchange
- Ministry of Mines - Canada
- Bahari Cakrawala Sebuku - Indonesia
- Marubeni Corporation - India
- Madhucon Powers Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Parry Sugars Refinery, India
- Formosa Plastics Group - Taiwan
- Leighton Contractors Pty Ltd - Australia
- Bharathi Cement Corporation - India
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Minerals Council of Australia
- Maheswari Brothers Coal Limited - India
- Rio Tinto Coal - Australia
- Salva Resources Pvt Ltd - India
- Dalmia Cement Bharat India
- PTC India Limited - India
- London Commodity Brokers - England
- Pipit Mutiara Jaya. PT, Indonesia
- Vizag Seaport Private Limited - India
- Merrill Lynch Commodities Europe
- Ceylon Electricity Board - Sri Lanka
- Sakthi Sugars Limited - India
- Semirara Mining and Power Corporation, Philippines
- Indian Energy Exchange, India
- Siam City Cement - Thailand
- Power Finance Corporation Ltd., India
- Oldendorff Carriers - Singapore
- Central Electricity Authority - India
- IEA Clean Coal Centre - UK
- Jindal Steel & Power Ltd - India
- Ministry of Finance - Indonesia
- OPG Power Generation Pvt Ltd - India
- Chamber of Mines of South Africa
- Bhushan Steel Limited - India
- CIMB Investment Bank - Malaysia
- Electricity Authority, New Zealand
- SMC Global Power, Philippines
- Kaltim Prima Coal - Indonesia
- Straits Asia Resources Limited - Singapore
- Coastal Gujarat Power Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Karbindo Abesyapradhi - Indoneisa
- Kideco Jaya Agung - Indonesia
- Wilmar Investment Holdings
- SMG Consultants - Indonesia
- India Bulls Power Limited - India
- Billiton Holdings Pty Ltd - Australia
- The Treasury - Australian Government
- Planning Commission, India
- Global Green Power PLC Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Uttam Galva Steels Limited - India
- Savvy Resources Ltd - HongKong
- Videocon Industries ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Siam City Cement PLC, Thailand
- MS Steel International - UAE
- Banpu Public Company Limited - Thailand
- Aditya Birla Group - India
- Altura Mining Limited, Indonesia
- Indian Oil Corporation Limited
- Thai Mozambique Logistica
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Aboitiz Power Corporation - Philippines
- Sarangani Energy Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mjunction Services Limited - India
- GAC Shipping (India) Pvt Ltd
- Binh Thuan Hamico - Vietnam
- Eastern Energy - Thailand
- Electricity Generating Authority of Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- San Jose City I Power Corp, Philippines
- Standard Chartered Bank - UAE
- Anglo American - United Kingdom
- Trasteel International SA, Italy
- Lanco Infratech Ltd - India
- Bukit Makmur.PT - Indonesia
- ICICI Bank Limited - India
- Sical Logistics Limited - India
- IHS Mccloskey Coal Group - USA
- Attock Cement Pakistan Limited
- Star Paper Mills Limited - India
- Holcim Trading Pte Ltd - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Ministry of Transport, Egypt
- Barasentosa Lestari - Indonesia
- White Energy Company Limited
- Bulk Trading Sa - Switzerland
- Sindya Power Generating Company Private Ltd
- ASAPP Information Group - India
- Directorate Of Revenue Intelligence - India
- Riau Bara Harum - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Interocean Group of Companies - India
- Edison Trading Spa - Italy
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Timah Investasi Mineral - Indoneisa
- GMR Energy Limited - India
- Renaissance Capital - South Africa
- Sree Jayajothi Cements Limited - India
- Tata Chemicals Ltd - India
- Indo Tambangraya Megah - Indonesia
- Globalindo Alam Lestari - Indonesia
- The State Trading Corporation of India Ltd
- Gujarat Sidhee Cement - India
- GN Power Mariveles Coal Plant, Philippines
- Bayan Resources Tbk. - Indonesia
- Larsen & Toubro Limited - India
- Agrawal Coal Company - India
- SN Aboitiz Power Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Vedanta Resources Plc - India
- Sojitz Corporation - Japan
- European Bulk Services B.V. - Netherlands
- Deloitte Consulting - India
- International Coal Ventures Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- The University of Queensland
- Essar Steel Hazira Ltd - India
- Mercuria Energy - Indonesia
- Economic Council, Georgia
- Therma Luzon, Inc, Philippines
- Carbofer General Trading SA - India
- Medco Energi Mining Internasional
- CNBM International Corporation - China
- Simpson Spence & Young - Indonesia
- Petron Corporation, Philippines
- Coalindo Energy - Indonesia
- Goldman Sachs - Singapore
- Kartika Selabumi Mining - Indonesia
- Indogreen Group - Indonesia
- New Zealand Coal & Carbon
- Malabar Cements Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Antam Resourcindo - Indonesia
- Singapore Mercantile Exchange
- Georgia Ports Authority, United States
- Orica Mining Services - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Orica Australia Pty. Ltd.
- Wood Mackenzie - Singapore
- Commonwealth Bank - Australia
- Indonesian Coal Mining Association
- PowerSource Philippines DevCo
- Energy Link Ltd, New Zealand
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