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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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Wednesday, 08 November 17
COAL MARKETS WERE MIXED; COKING COAL EKING OUT SOME GAINS; THERMAL COAL STRUGGLING - DANIEL HYNES
Coal markets were mixed, with coking coal eking out some gains, while thermal coal struggled amid the falling oil prices, ANZ Strategist said in a ...
Wednesday, 08 November 17
WEEKLY SHIPPING MARKET INSIGHT
If you are a dry bulk owner today you are definitely feeling the pressure of the past couple of years off and given the admittedly unexpected growt ...
Wednesday, 08 November 17
NEW QUAY OPENED AT THE INDUSTRIAL PORT IN BREMEN,GERMAN
Press Release: After a building period lasting three-and-a-half years, the port logistics firm Weserport, the “bremenports” comp ...
Tuesday, 07 November 17
ING JOINS FORCES ON BLOCKCHAIN-BASED PLATFORM FOR ENERGY COMMODITIES SECTOR
Blockchain technology. It’s often been described as the most important invention in computing in a generation.
So it should come as no s ...
Tuesday, 07 November 17
MECHEL SIGNED LONG-TERM COAL SUPPLY CONTRACT WITH ITOCHU CORPORATION
Mechel PAO a leading Russian mining and metals company, reports signing a framework agreement with a major Japanese universal trading company Itoch ...
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- Bahari Cakrawala Sebuku - Indonesia
- Xindia Steels Limited - India
- Power Finance Corporation Ltd., India
- Gujarat Sidhee Cement - India
- Simpson Spence & Young - Indonesia
- Deloitte Consulting - India
- Indian Energy Exchange, India
- Merrill Lynch Commodities Europe
- Neyveli Lignite Corporation Ltd, - India
- Formosa Plastics Group - Taiwan
- Georgia Ports Authority, United States
- Anglo American - United Kingdom
- Pendopo Energi Batubara - Indonesia
- Maheswari Brothers Coal Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Mercuria Energy - Indonesia
- Minerals Council of Australia
- Thai Mozambique Logistica
- Semirara Mining Corp, Philippines
- Intertek Mineral Services - Indonesia
- Port Waratah Coal Services - Australia
- Sree Jayajothi Cements Limited - India
- Mercator Lines Limited - India
- Madhucon Powers Ltd - India
- IEA Clean Coal Centre - UK
- ASAPP Information Group - India
- Kapuas Tunggal Persada - Indonesia
- Wilmar Investment Holdings
- Kobexindo Tractors - Indoneisa
- Agrawal Coal Company - India
- Bayan Resources Tbk. - Indonesia
- Wood Mackenzie - Singapore
- Aboitiz Power Corporation - Philippines
- Timah Investasi Mineral - Indoneisa
- CNBM International Corporation - China
- Antam Resourcindo - Indonesia
- TeaM Sual Corporation - Philippines
- Carbofer General Trading SA - India
- Trasteel International SA, Italy
- Singapore Mercantile Exchange
- Australian Coal Association
- Edison Trading Spa - Italy
- Bukit Makmur.PT - Indonesia
- South Luzon Thermal Energy Corporation
- SMC Global Power, Philippines
- Siam City Cement PLC, Thailand
- Gujarat Electricity Regulatory Commission - India
- Bangladesh Power Developement Board
- International Coal Ventures Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Kartika Selabumi Mining - Indonesia
- Indika Energy - Indonesia
- Electricity Generating Authority of Thailand
- Coal and Oil Company - UAE
- PNOC Exploration Corporation - Philippines
- Marubeni Corporation - India
- Kaltim Prima Coal - Indonesia
- Mintek Dendrill Indonesia
- Global Green Power PLC Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Thiess Contractors Indonesia
- Sindya Power Generating Company Private Ltd
- GMR Energy Limited - India
- GVK Power & Infra Limited - India
- Energy Link Ltd, New Zealand
- GAC Shipping (India) Pvt Ltd
- Mjunction Services Limited - India
- Ministry of Finance - Indonesia
- Makarim & Taira - Indonesia
- VISA Power Limited - India
- Cement Manufacturers Association - India
- AsiaOL BioFuels Corp., Philippines
- Kalimantan Lumbung Energi - Indonesia
- Eastern Coal Council - USA
- Indonesian Coal Mining Association
- Sinarmas Energy and Mining - Indonesia
- Independent Power Producers Association of India
- Malabar Cements Ltd - India
- Sakthi Sugars Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Bhatia International Limited - India
- Posco Energy - South Korea
- Central Electricity Authority - India
- Energy Development Corp, Philippines
- Renaissance Capital - South Africa
- Global Coal Blending Company Limited - Australia
- Semirara Mining and Power Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Parry Sugars Refinery, India
- ICICI Bank Limited - India
- Coastal Gujarat Power Limited - India
- Bharathi Cement Corporation - India
- Alfred C Toepfer International GmbH - Germany
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sical Logistics Limited - India
- Kumho Petrochemical, South Korea
- Cigading International Bulk Terminal - Indonesia
- Straits Asia Resources Limited - Singapore
- Jindal Steel & Power Ltd - India
- Indogreen Group - Indonesia
- Uttam Galva Steels Limited - India
- Star Paper Mills Limited - India
- Electricity Authority, New Zealand
- Krishnapatnam Port Company Ltd. - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- CIMB Investment Bank - Malaysia
- Interocean Group of Companies - India
- Binh Thuan Hamico - Vietnam
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Banpu Public Company Limited - Thailand
- SN Aboitiz Power Inc, Philippines
- Orica Australia Pty. Ltd.
- Rio Tinto Coal - Australia
- Barasentosa Lestari - Indonesia
- Indo Tambangraya Megah - Indonesia
- India Bulls Power Limited - India
- Planning Commission, India
- Globalindo Alam Lestari - Indonesia
- Larsen & Toubro Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sojitz Corporation - Japan
- Global Business Power Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Toyota Tsusho Corporation, Japan
- Ambuja Cements Ltd - India
- Tamil Nadu electricity Board
- Tata Chemicals Ltd - India
- Goldman Sachs - Singapore
- Kepco SPC Power Corporation, Philippines
- Coalindo Energy - Indonesia
- Orica Mining Services - Indonesia
- Bhoruka Overseas - Indonesia
- Directorate Of Revenue Intelligence - India
- Indian Oil Corporation Limited
- GN Power Mariveles Coal Plant, Philippines
- Chettinad Cement Corporation Ltd - India
- Vizag Seaport Private Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Standard Chartered Bank - UAE
- Baramulti Group, Indonesia
- White Energy Company Limited
- Oldendorff Carriers - Singapore
- San Jose City I Power Corp, Philippines
- Parliament of New Zealand
- Leighton Contractors Pty Ltd - Australia
- Ministry of Mines - Canada
- New Zealand Coal & Carbon
- Dalmia Cement Bharat India
- Samtan Co., Ltd - South Korea
- Altura Mining Limited, Indonesia
- Bulk Trading Sa - Switzerland
- PTC India Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Borneo Indobara - Indonesia
- MS Steel International - UAE
- Jaiprakash Power Ventures ltd
- The University of Queensland
- SMG Consultants - Indonesia
- London Commodity Brokers - England
- The State Trading Corporation of India Ltd
- PetroVietnam Power Coal Import and Supply Company
- Attock Cement Pakistan Limited
- Rashtriya Ispat Nigam Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Riau Bara Harum - Indonesia
- Kideco Jaya Agung - Indonesia
- Metalloyd Limited - United Kingdom
- Maharashtra Electricity Regulatory Commission - India
- Siam City Cement - Thailand
- Iligan Light & Power Inc, Philippines
- Savvy Resources Ltd - HongKong
- Bukit Baiduri Energy - Indonesia
- Heidelberg Cement - Germany
- Holcim Trading Pte Ltd - Singapore
- Medco Energi Mining Internasional
- Latin American Coal - Colombia
- Price Waterhouse Coopers - Russia
- TNB Fuel Sdn Bhd - Malaysia
- Bhushan Steel Limited - India
- Petron Corporation, Philippines
- PowerSource Philippines DevCo
- Sarangani Energy Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Eastern Energy - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Romanian Commodities Exchange
- Australian Commodity Traders Exchange
- Karaikal Port Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- IHS Mccloskey Coal Group - USA
- Manunggal Multi Energi - Indonesia
- Commonwealth Bank - Australia
- Vedanta Resources Plc - India
- Meenaskhi Energy Private Limited - India
- Central Java Power - Indonesia
- OPG Power Generation Pvt Ltd - India
- Grasim Industreis Ltd - India
- Economic Council, Georgia
- Meralco Power Generation, Philippines
- The Treasury - Australian Government
- Ministry of Transport, Egypt
- Billiton Holdings Pty Ltd - Australia
- Aditya Birla Group - India
- Karbindo Abesyapradhi - Indoneisa
- Lanco Infratech Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Chamber of Mines of South Africa
- Directorate General of MIneral and Coal - Indonesia
- McConnell Dowell - Australia
- Miang Besar Coal Terminal - Indonesia
- Africa Commodities Group - South Africa
- Videocon Industries ltd - India
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