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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, 07 June 17
MARKET INSIGHT - PANOS MAKRINOS
2017 undoubtedly began with very optimistic signs for the future of the Oil & Gas industry on the back of the Vienna Agreement. OPEC and non-OP ...
Tuesday, 06 June 17
THE FREIGHT MARKET WAS CONTINUE TO TUMBLE THIS PAST WEEK
COALspot.com: The Freight market continued to tumble this past week, as BDI and cape index showed a negative trend week over week.
The Baltic ...
Friday, 02 June 17
THE WORLD COAL ASSOCIATION HAS RESPONDED TO THE WITHDRAWAL OF THE UNITED STATES FROM THE PARIS AGREEMENT
“This decision is the result of a failure to build a genuine coalition on climate action that recognises the role of all technologies, includ ...
Friday, 02 June 17
MOL SIGNS COAL TRANSPORT DEAL WITH THERMAL POWERTECH CORPORATION INDIA LIMITED
MOL Signs Coal Transport Deal with Thermal Powertech Corporation India Limited - Contributing to a Stable Power Supply in India -
Jun ...
Friday, 02 June 17
U.S THE PAST WEEK'S COAL PRODUCTION ESTIMATE UP 4.4% - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 15 million short tonnes ...
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- Standard Chartered Bank - UAE
- Anglo American - United Kingdom
- GVK Power & Infra Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Indo Tambangraya Megah - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Ceylon Electricity Board - Sri Lanka
- Bhoruka Overseas - Indonesia
- Grasim Industreis Ltd - India
- Agrawal Coal Company - India
- Indian Oil Corporation Limited
- Eastern Coal Council - USA
- Sinarmas Energy and Mining - Indonesia
- Sindya Power Generating Company Private Ltd
- Independent Power Producers Association of India
- VISA Power Limited - India
- Barasentosa Lestari - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Orica Australia Pty. Ltd.
- Chettinad Cement Corporation Ltd - India
- Deloitte Consulting - India
- Power Finance Corporation Ltd., India
- PowerSource Philippines DevCo
- Goldman Sachs - Singapore
- Rio Tinto Coal - Australia
- European Bulk Services B.V. - Netherlands
- India Bulls Power Limited - India
- Carbofer General Trading SA - India
- Karaikal Port Pvt Ltd - India
- Sakthi Sugars Limited - India
- Electricity Authority, New Zealand
- Latin American Coal - Colombia
- Meenaskhi Energy Private Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Romanian Commodities Exchange
- Binh Thuan Hamico - Vietnam
- SMC Global Power, Philippines
- Eastern Energy - Thailand
- Orica Mining Services - Indonesia
- Antam Resourcindo - Indonesia
- Port Waratah Coal Services - Australia
- Savvy Resources Ltd - HongKong
- Metalloyd Limited - United Kingdom
- Coastal Gujarat Power Limited - India
- MS Steel International - UAE
- Krishnapatnam Port Company Ltd. - India
- Petron Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Coalindo Energy - Indonesia
- Mercator Lines Limited - India
- Manunggal Multi Energi - Indonesia
- Globalindo Alam Lestari - Indonesia
- Thiess Contractors Indonesia
- Tata Chemicals Ltd - India
- McConnell Dowell - Australia
- London Commodity Brokers - England
- Attock Cement Pakistan Limited
- SN Aboitiz Power Inc, Philippines
- Chamber of Mines of South Africa
- Salva Resources Pvt Ltd - India
- Parry Sugars Refinery, India
- Semirara Mining Corp, Philippines
- Mercuria Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Directorate Of Revenue Intelligence - India
- Indonesian Coal Mining Association
- Larsen & Toubro Limited - India
- ASAPP Information Group - India
- Miang Besar Coal Terminal - Indonesia
- Australian Commodity Traders Exchange
- Planning Commission, India
- Essar Steel Hazira Ltd - India
- The Treasury - Australian Government
- Siam City Cement PLC, Thailand
- Bulk Trading Sa - Switzerland
- Petrochimia International Co. Ltd.- Taiwan
- Pipit Mutiara Jaya. PT, Indonesia
- Videocon Industries ltd - India
- Global Coal Blending Company Limited - Australia
- Makarim & Taira - Indonesia
- Altura Mining Limited, Indonesia
- Wood Mackenzie - Singapore
- Vizag Seaport Private Limited - India
- Coal and Oil Company - UAE
- Singapore Mercantile Exchange
- Malabar Cements Ltd - India
- International Coal Ventures Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Sical Logistics Limited - India
- LBH Netherlands Bv - Netherlands
- Bhushan Steel Limited - India
- Iligan Light & Power Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Therma Luzon, Inc, Philippines
- Lanco Infratech Ltd - India
- Kepco SPC Power Corporation, Philippines
- Gujarat Sidhee Cement - India
- Jaiprakash Power Ventures ltd
- Uttam Galva Steels Limited - India
- Rashtriya Ispat Nigam Limited - India
- Cigading International Bulk Terminal - Indonesia
- Toyota Tsusho Corporation, Japan
- Timah Investasi Mineral - Indoneisa
- Xindia Steels Limited - India
- Sarangani Energy Corporation, Philippines
- Trasteel International SA, Italy
- Jorong Barutama Greston.PT - Indonesia
- Bukit Makmur.PT - Indonesia
- Parliament of New Zealand
- Semirara Mining and Power Corporation, Philippines
- Siam City Cement - Thailand
- Georgia Ports Authority, United States
- Straits Asia Resources Limited - Singapore
- Maheswari Brothers Coal Limited - India
- Renaissance Capital - South Africa
- Neyveli Lignite Corporation Ltd, - India
- New Zealand Coal & Carbon
- Cement Manufacturers Association - India
- Australian Coal Association
- Ambuja Cements Ltd - India
- Riau Bara Harum - Indonesia
- IHS Mccloskey Coal Group - USA
- Mjunction Services Limited - India
- Ministry of Transport, Egypt
- Minerals Council of Australia
- Bangladesh Power Developement Board
- OPG Power Generation Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Indika Energy - Indonesia
- IEA Clean Coal Centre - UK
- Oldendorff Carriers - Singapore
- Bukit Baiduri Energy - Indonesia
- Intertek Mineral Services - Indonesia
- Thai Mozambique Logistica
- Energy Development Corp, Philippines
- GAC Shipping (India) Pvt Ltd
- Dalmia Cement Bharat India
- Aditya Birla Group - India
- Kalimantan Lumbung Energi - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- TNB Fuel Sdn Bhd - Malaysia
- TeaM Sual Corporation - Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- The State Trading Corporation of India Ltd
- Central Electricity Authority - India
- Wilmar Investment Holdings
- Global Business Power Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Simpson Spence & Young - Indonesia
- PTC India Limited - India
- CNBM International Corporation - China
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Indogreen Group - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kartika Selabumi Mining - Indonesia
- Borneo Indobara - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Edison Trading Spa - Italy
- Star Paper Mills Limited - India
- Aboitiz Power Corporation - Philippines
- Ministry of Mines - Canada
- Kumho Petrochemical, South Korea
- PNOC Exploration Corporation - Philippines
- Jindal Steel & Power Ltd - India
- Energy Link Ltd, New Zealand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ministry of Finance - Indonesia
- Sojitz Corporation - Japan
- Interocean Group of Companies - India
- Heidelberg Cement - Germany
- Global Green Power PLC Corporation, Philippines
- Electricity Generating Authority of Thailand
- Baramulti Group, Indonesia
- Posco Energy - South Korea
- ICICI Bank Limited - India
- Economic Council, Georgia
- Kaltim Prima Coal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- The University of Queensland
- Bayan Resources Tbk. - Indonesia
- Price Waterhouse Coopers - Russia
- Marubeni Corporation - India
- Tamil Nadu electricity Board
- South Luzon Thermal Energy Corporation
- Kideco Jaya Agung - Indonesia
- Indian Energy Exchange, India
- Merrill Lynch Commodities Europe
- GMR Energy Limited - India
- Madhucon Powers Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mintek Dendrill Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Meralco Power Generation, Philippines
- Samtan Co., Ltd - South Korea
- AsiaOL BioFuels Corp., Philippines
- Commonwealth Bank - Australia
- Bharathi Cement Corporation - India
- Bahari Cakrawala Sebuku - Indonesia
- San Jose City I Power Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Kobexindo Tractors - Indoneisa
- CIMB Investment Bank - Malaysia
- SMG Consultants - Indonesia
- Formosa Plastics Group - Taiwan
- Central Java Power - Indonesia
- Pendopo Energi Batubara - Indonesia
- Vedanta Resources Plc - India
- Ind-Barath Power Infra Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- White Energy Company Limited
- Bhatia International Limited - India
- Africa Commodities Group - South Africa
- Medco Energi Mining Internasional
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