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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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Monday, 12 March 18
DRY BULK MARKET: CAPESIZE MARKET FINDS ITS FOOTING - BALTIC BRIEFING
Capesize
Some relief for owners as the week closed out with the market finding a floor in the East. Rates on the key West Australia/China run loo ...
Monday, 12 March 18
COAL OUTPUT FROM PRIVATE MINERS UNLIKELY TO RISE IN MEDIUM TERM: ICRA
Coal output levels from private commercial miners are unlikely to go up considerably in the medium to short term, given the issues related to land ...
Saturday, 10 March 18
ENHANCED PRODUCTION BY COAL INDIA HELPS DECLINE IN COAL IMPORTS
As per the current import policy, coal is kept under Open General License (OGL) and consumers are free to import coal from the source of their choi ...
Saturday, 10 March 18
THE 'RENOS' - COURT OF APPEAL CLARIFIES CTL CALCULATION AND RIGHT OF ABANDONMENT - CLYDE & CO
KNOWLEDGE TO ELEVATE
In the matter of the “RENOS”, Mr Justice Knowles addressed a number of issues, at first instance, regarding t ...
Friday, 09 March 18
THE WORLD CANNOT KEEP IGNORING THE ASIAN COAL STORY - BENJAMIN SPORTON
There were significant changes in the global energy system in 2017, including the growth in electric vehicles, the rise of renewables and the conti ...
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- PowerSource Philippines DevCo
- Anglo American - United Kingdom
- Jindal Steel & Power Ltd - India
- Independent Power Producers Association of India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Edison Trading Spa - Italy
- Renaissance Capital - South Africa
- Marubeni Corporation - India
- Ambuja Cements Ltd - India
- SMG Consultants - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Timah Investasi Mineral - Indoneisa
- Australian Commodity Traders Exchange
- Dalmia Cement Bharat India
- Metalloyd Limited - United Kingdom
- Chamber of Mines of South Africa
- Global Green Power PLC Corporation, Philippines
- TeaM Sual Corporation - Philippines
- MS Steel International - UAE
- Minerals Council of Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Rashtriya Ispat Nigam Limited - India
- Ministry of Mines - Canada
- Parliament of New Zealand
- Grasim Industreis Ltd - India
- Xindia Steels Limited - India
- CIMB Investment Bank - Malaysia
- Borneo Indobara - Indonesia
- Sree Jayajothi Cements Limited - India
- Eastern Coal Council - USA
- OPG Power Generation Pvt Ltd - India
- IEA Clean Coal Centre - UK
- LBH Netherlands Bv - Netherlands
- San Jose City I Power Corp, Philippines
- Meenaskhi Energy Private Limited - India
- Cement Manufacturers Association - India
- Kalimantan Lumbung Energi - Indonesia
- Barasentosa Lestari - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Uttam Galva Steels Limited - India
- Goldman Sachs - Singapore
- Altura Mining Limited, Indonesia
- Toyota Tsusho Corporation, Japan
- Indian Oil Corporation Limited
- Posco Energy - South Korea
- Sarangani Energy Corporation, Philippines
- Thai Mozambique Logistica
- Georgia Ports Authority, United States
- Vijayanagar Sugar Pvt Ltd - India
- Petron Corporation, Philippines
- Coal and Oil Company - UAE
- Planning Commission, India
- Singapore Mercantile Exchange
- Tata Chemicals Ltd - India
- Standard Chartered Bank - UAE
- Sindya Power Generating Company Private Ltd
- Madhucon Powers Ltd - India
- Tamil Nadu electricity Board
- Antam Resourcindo - Indonesia
- Bhatia International Limited - India
- Mercuria Energy - Indonesia
- Port Waratah Coal Services - Australia
- Deloitte Consulting - India
- Savvy Resources Ltd - HongKong
- Oldendorff Carriers - Singapore
- AsiaOL BioFuels Corp., Philippines
- Binh Thuan Hamico - Vietnam
- Ministry of Transport, Egypt
- Bharathi Cement Corporation - India
- ASAPP Information Group - India
- GN Power Mariveles Coal Plant, Philippines
- Straits Asia Resources Limited - Singapore
- ICICI Bank Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Directorate Of Revenue Intelligence - India
- Riau Bara Harum - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Banpu Public Company Limited - Thailand
- GVK Power & Infra Limited - India
- Gujarat Sidhee Cement - India
- Africa Commodities Group - South Africa
- Essar Steel Hazira Ltd - India
- New Zealand Coal & Carbon
- Makarim & Taira - Indonesia
- Economic Council, Georgia
- Indika Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Heidelberg Cement - Germany
- Kepco SPC Power Corporation, Philippines
- Central Electricity Authority - India
- SMC Global Power, Philippines
- Aditya Birla Group - India
- Attock Cement Pakistan Limited
- SN Aboitiz Power Inc, Philippines
- Coalindo Energy - Indonesia
- Carbofer General Trading SA - India
- Bukit Baiduri Energy - Indonesia
- Sojitz Corporation - Japan
- Kohat Cement Company Ltd. - Pakistan
- Kobexindo Tractors - Indoneisa
- Eastern Energy - Thailand
- Bhoruka Overseas - Indonesia
- Manunggal Multi Energi - Indonesia
- Ministry of Finance - Indonesia
- Samtan Co., Ltd - South Korea
- PNOC Exploration Corporation - Philippines
- Wood Mackenzie - Singapore
- Maheswari Brothers Coal Limited - India
- Globalindo Alam Lestari - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Malabar Cements Ltd - India
- Thiess Contractors Indonesia
- Wilmar Investment Holdings
- The State Trading Corporation of India Ltd
- VISA Power Limited - India
- Meralco Power Generation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Romanian Commodities Exchange
- Simpson Spence & Young - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Jorong Barutama Greston.PT - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- McConnell Dowell - Australia
- Electricity Generating Authority of Thailand
- Energy Link Ltd, New Zealand
- Videocon Industries ltd - India
- Latin American Coal - Colombia
- Bhushan Steel Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- White Energy Company Limited
- Commonwealth Bank - Australia
- GMR Energy Limited - India
- Agrawal Coal Company - India
- IHS Mccloskey Coal Group - USA
- Kartika Selabumi Mining - Indonesia
- Miang Besar Coal Terminal - Indonesia
- PTC India Limited - India
- Iligan Light & Power Inc, Philippines
- Interocean Group of Companies - India
- Coastal Gujarat Power Limited - India
- Billiton Holdings Pty Ltd - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Therma Luzon, Inc, Philippines
- Indian Energy Exchange, India
- Global Coal Blending Company Limited - Australia
- Bukit Makmur.PT - Indonesia
- Bayan Resources Tbk. - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Rio Tinto Coal - Australia
- The University of Queensland
- Asmin Koalindo Tuhup - Indonesia
- Siam City Cement - Thailand
- International Coal Ventures Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Indonesian Coal Mining Association
- Baramulti Group, Indonesia
- Kideco Jaya Agung - Indonesia
- Bangladesh Power Developement Board
- Karaikal Port Pvt Ltd - India
- Australian Coal Association
- Kaltim Prima Coal - Indonesia
- Orica Australia Pty. Ltd.
- Bukit Asam (Persero) Tbk - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Indogreen Group - Indonesia
- Salva Resources Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Petrochimia International Co. Ltd.- Taiwan
- Semirara Mining Corp, Philippines
- Sakthi Sugars Limited - India
- Indo Tambangraya Megah - Indonesia
- Star Paper Mills Limited - India
- GAC Shipping (India) Pvt Ltd
- Vedanta Resources Plc - India
- Aboitiz Power Corporation - Philippines
- South Luzon Thermal Energy Corporation
- Mercator Lines Limited - India
- Orica Mining Services - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Pendopo Energi Batubara - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Gujarat Electricity Regulatory Commission - India
- Lanco Infratech Ltd - India
- Electricity Authority, New Zealand
- Leighton Contractors Pty Ltd - Australia
- Global Business Power Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Siam City Cement PLC, Thailand
- Kumho Petrochemical, South Korea
- Jaiprakash Power Ventures ltd
- Merrill Lynch Commodities Europe
- Bahari Cakrawala Sebuku - Indonesia
- Price Waterhouse Coopers - Russia
- Chettinad Cement Corporation Ltd - India
- Alfred C Toepfer International GmbH - Germany
- CNBM International Corporation - China
- Trasteel International SA, Italy
- Central Java Power - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- The Treasury - Australian Government
- London Commodity Brokers - England
- Gujarat Mineral Development Corp Ltd - India
- Mintek Dendrill Indonesia
- Larsen & Toubro Limited - India
- European Bulk Services B.V. - Netherlands
- Sical Logistics Limited - India
- Energy Development Corp, Philippines
- Parry Sugars Refinery, India
- Bulk Trading Sa - Switzerland
- India Bulls Power Limited - India
- Ind-Barath Power Infra Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Medco Energi Mining Internasional
- Intertek Mineral Services - Indonesia
- Vizag Seaport Private Limited - India
- Mjunction Services Limited - India
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