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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, 29 November 22
SEABORNE COAL FLOWS IN 2022 - SIGNAL
This year is crucial for the energy mix in European countries, as the EU has imposed new sanctions on Russia. It is important to emphasize that the ...
Friday, 25 November 22
APAC THERMAL COAL PRICES CORRECT FROM RECORD HIGH - FITCH RATINGS
Prices of Newcastle 6,000kcal/kg coal have corrected following falling European gas and coal prices, and more supply from Australia could help miti ...
Thursday, 24 November 22
VIETNAM BOOSTS COAL USE PLAN FOR 2030 AS G7 CLIMATE OFFER STALLS - REUTERS
Vietnam has increased its coal power target for 2030 under a revised draft energy plan, government documents seen by Reuters show, while renewables ...
Tuesday, 22 November 22
THE GENCON 2022 CHARTERPARTY - GARD
KNOWLEDGE TO ELEVATE
BIMCO has published a revamped version of the popular GENCON charterparty. Our author, Helena Biggs, was a member of the ...
Tuesday, 22 November 22
INDIA POWER BINGES ON COAL, OUTPACES ASIA - REUTERS
India’s coal-fired power output has increased much faster than any other country in the Asia Pacific since Russia’s invasion of Ukraine ...
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- Salva Resources Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Gujarat Electricity Regulatory Commission - India
- Electricity Authority, New Zealand
- Baramulti Group, Indonesia
- International Coal Ventures Pvt Ltd - India
- Ministry of Finance - Indonesia
- Antam Resourcindo - Indonesia
- Bukit Makmur.PT - Indonesia
- Attock Cement Pakistan Limited
- Billiton Holdings Pty Ltd - Australia
- Videocon Industries ltd - India
- Kalimantan Lumbung Energi - Indonesia
- CNBM International Corporation - China
- Rio Tinto Coal - Australia
- The Treasury - Australian Government
- Kaltim Prima Coal - Indonesia
- PTC India Limited - India
- Eastern Coal Council - USA
- Kobexindo Tractors - Indoneisa
- Gujarat Mineral Development Corp Ltd - India
- SN Aboitiz Power Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Globalindo Alam Lestari - Indonesia
- Uttam Galva Steels Limited - India
- Ministry of Transport, Egypt
- Pendopo Energi Batubara - Indonesia
- Ministry of Mines - Canada
- Indian Energy Exchange, India
- White Energy Company Limited
- Merrill Lynch Commodities Europe
- Bharathi Cement Corporation - India
- Bukit Asam (Persero) Tbk - Indonesia
- Orica Australia Pty. Ltd.
- Pipit Mutiara Jaya. PT, Indonesia
- Global Business Power Corporation, Philippines
- Central Electricity Authority - India
- Energy Development Corp, Philippines
- Economic Council, Georgia
- GMR Energy Limited - India
- Larsen & Toubro Limited - India
- Maheswari Brothers Coal Limited - India
- Carbofer General Trading SA - India
- The State Trading Corporation of India Ltd
- Xindia Steels Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Thiess Contractors Indonesia
- Meralco Power Generation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Coalindo Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Australian Commodity Traders Exchange
- Savvy Resources Ltd - HongKong
- TeaM Sual Corporation - Philippines
- Dalmia Cement Bharat India
- McConnell Dowell - Australia
- Kapuas Tunggal Persada - Indonesia
- European Bulk Services B.V. - Netherlands
- London Commodity Brokers - England
- Latin American Coal - Colombia
- Medco Energi Mining Internasional
- Aditya Birla Group - India
- Holcim Trading Pte Ltd - Singapore
- Metalloyd Limited - United Kingdom
- Edison Trading Spa - Italy
- PNOC Exploration Corporation - Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ambuja Cements Ltd - India
- Kartika Selabumi Mining - Indonesia
- Madhucon Powers Ltd - India
- Agrawal Coal Company - India
- Aboitiz Power Corporation - Philippines
- Mercator Lines Limited - India
- VISA Power Limited - India
- Therma Luzon, Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Petron Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Interocean Group of Companies - India
- Directorate Of Revenue Intelligence - India
- Wood Mackenzie - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Formosa Plastics Group - Taiwan
- Sojitz Corporation - Japan
- India Bulls Power Limited - India
- OPG Power Generation Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Essar Steel Hazira Ltd - India
- Timah Investasi Mineral - Indoneisa
- Minerals Council of Australia
- Africa Commodities Group - South Africa
- Vizag Seaport Private Limited - India
- SMG Consultants - Indonesia
- Heidelberg Cement - Germany
- Jindal Steel & Power Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Neyveli Lignite Corporation Ltd, - India
- TNB Fuel Sdn Bhd - Malaysia
- Manunggal Multi Energi - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Port Waratah Coal Services - Australia
- Georgia Ports Authority, United States
- Semirara Mining Corp, Philippines
- Indo Tambangraya Megah - Indonesia
- Price Waterhouse Coopers - Russia
- Anglo American - United Kingdom
- Global Coal Blending Company Limited - Australia
- GVK Power & Infra Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indonesian Coal Mining Association
- Bhoruka Overseas - Indonesia
- Electricity Generating Authority of Thailand
- Wilmar Investment Holdings
- Kepco SPC Power Corporation, Philippines
- Energy Link Ltd, New Zealand
- Borneo Indobara - Indonesia
- Thai Mozambique Logistica
- Global Green Power PLC Corporation, Philippines
- Planning Commission, India
- Standard Chartered Bank - UAE
- Mjunction Services Limited - India
- Renaissance Capital - South Africa
- Rashtriya Ispat Nigam Limited - India
- Simpson Spence & Young - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Oldendorff Carriers - Singapore
- Orica Mining Services - Indonesia
- Iligan Light & Power Inc, Philippines
- Commonwealth Bank - Australia
- Directorate General of MIneral and Coal - Indonesia
- Bangladesh Power Developement Board
- Central Java Power - Indonesia
- LBH Netherlands Bv - Netherlands
- Leighton Contractors Pty Ltd - Australia
- Kumho Petrochemical, South Korea
- PetroVietnam Power Coal Import and Supply Company
- Indian Oil Corporation Limited
- Parry Sugars Refinery, India
- Intertek Mineral Services - Indonesia
- Mintek Dendrill Indonesia
- Romanian Commodities Exchange
- Makarim & Taira - Indonesia
- Independent Power Producers Association of India
- Altura Mining Limited, Indonesia
- PowerSource Philippines DevCo
- Vedanta Resources Plc - India
- Gujarat Sidhee Cement - India
- GAC Shipping (India) Pvt Ltd
- Siam City Cement PLC, Thailand
- Indika Energy - Indonesia
- Singapore Mercantile Exchange
- Bhushan Steel Limited - India
- Eastern Energy - Thailand
- Semirara Mining and Power Corporation, Philippines
- Power Finance Corporation Ltd., India
- Jaiprakash Power Ventures ltd
- South Luzon Thermal Energy Corporation
- CIMB Investment Bank - Malaysia
- Sree Jayajothi Cements Limited - India
- Lanco Infratech Ltd - India
- Star Paper Mills Limited - India
- Bulk Trading Sa - Switzerland
- Chamber of Mines of South Africa
- Marubeni Corporation - India
- Toyota Tsusho Corporation, Japan
- Kideco Jaya Agung - Indonesia
- ICICI Bank Limited - India
- Parliament of New Zealand
- Karbindo Abesyapradhi - Indoneisa
- Barasentosa Lestari - Indonesia
- Mercuria Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Sical Logistics Limited - India
- Tamil Nadu electricity Board
- Bukit Baiduri Energy - Indonesia
- Malabar Cements Ltd - India
- Sindya Power Generating Company Private Ltd
- ASAPP Information Group - India
- SMC Global Power, Philippines
- Siam City Cement - Thailand
- GN Power Mariveles Coal Plant, Philippines
- Ceylon Electricity Board - Sri Lanka
- The University of Queensland
- Ind-Barath Power Infra Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Goldman Sachs - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Australian Coal Association
- Coal and Oil Company - UAE
- Karaikal Port Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Tata Chemicals Ltd - India
- Coastal Gujarat Power Limited - India
- Cigading International Bulk Terminal - Indonesia
- IEA Clean Coal Centre - UK
- MS Steel International - UAE
- Sakthi Sugars Limited - India
- Binh Thuan Hamico - Vietnam
- Grasim Industreis Ltd - India
- Posco Energy - South Korea
- New Zealand Coal & Carbon
- San Jose City I Power Corp, Philippines
- Straits Asia Resources Limited - Singapore
- Deloitte Consulting - India
- Indogreen Group - Indonesia
- Chettinad Cement Corporation Ltd - India
- Riau Bara Harum - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Cement Manufacturers Association - India
- Trasteel International SA, Italy
- IHS Mccloskey Coal Group - USA
- Samtan Co., Ltd - South Korea
- Bhatia International Limited - India
- Meenaskhi Energy Private Limited - India
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