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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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Friday, 16 September 22
WHEN IS A VESSEL'S INCOME EARNING CAPACITY AT RISK? 'CONTROLLED INCOME CAN BE A KEY OF SUCCESS' - MARASCO MARINE
Managing marine risks is not an easy task, which requires special knowledge and expertise on the subject per se. Customarily, big ship management c ...
Friday, 16 September 22
DRY BULK MARKET: EU’S BAN ON RUSSIAN COAL LIFTS DEMAND DESPITE ECONOMIC HEADWINDS - BIMCO
Highlights
– The Baltic Exchange Dry Index (BDI) peaked in late May and has since fallen sharply as lower Chinese demand and adverse glob ...
Friday, 16 September 22
BIMCO EMBARKS ON NEW STANDARD FOR “QUIET ENJOYMENT”
KNOWLEDGE TO ELEVATE
A newly set-up BIMCO drafting team involving a cross-section of shipowners, charterers, financing and leasing i ...
Friday, 16 September 22
INDIAN COAL PRODUCTION TO RISE 150 PER CENT IN 10 YEARS: CENTRE - EXPRESS NEWS SERVICE
The Union Ministry of Mines is expecting 150 per cent growth in coal production 10 years down the line as a result of coal reforms that had been us ...
Thursday, 15 September 22
MARKET INSIGHT - INTERMODAL
While the Organization of Petroleum Exporting Countries and its allies agreed on a 100,000 b/d output cut last week, oil flows are in the spotlight ...
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- Economic Council, Georgia
- Asmin Koalindo Tuhup - Indonesia
- Siam City Cement PLC, Thailand
- Mercator Lines Limited - India
- Straits Asia Resources Limited - Singapore
- Bulk Trading Sa - Switzerland
- Australian Coal Association
- Kepco SPC Power Corporation, Philippines
- Vedanta Resources Plc - India
- Makarim & Taira - Indonesia
- White Energy Company Limited
- South Luzon Thermal Energy Corporation
- Global Business Power Corporation, Philippines
- Star Paper Mills Limited - India
- Indian Oil Corporation Limited
- Leighton Contractors Pty Ltd - Australia
- Edison Trading Spa - Italy
- Power Finance Corporation Ltd., India
- Sakthi Sugars Limited - India
- Kobexindo Tractors - Indoneisa
- Gujarat Mineral Development Corp Ltd - India
- Carbofer General Trading SA - India
- Grasim Industreis Ltd - India
- Renaissance Capital - South Africa
- Metalloyd Limited - United Kingdom
- Standard Chartered Bank - UAE
- Anglo American - United Kingdom
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bharathi Cement Corporation - India
- The University of Queensland
- Central Electricity Authority - India
- Deloitte Consulting - India
- Semirara Mining and Power Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Sidhee Cement - India
- Coastal Gujarat Power Limited - India
- European Bulk Services B.V. - Netherlands
- Commonwealth Bank - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Formosa Plastics Group - Taiwan
- Price Waterhouse Coopers - Russia
- Bangladesh Power Developement Board
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- Antam Resourcindo - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- PNOC Exploration Corporation - Philippines
- Latin American Coal - Colombia
- TNB Fuel Sdn Bhd - Malaysia
- TeaM Sual Corporation - Philippines
- Bhushan Steel Limited - India
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- Directorate General of MIneral and Coal - Indonesia
- IHS Mccloskey Coal Group - USA
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- International Coal Ventures Pvt Ltd - India
- Indonesian Coal Mining Association
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- Mercuria Energy - Indonesia
- India Bulls Power Limited - India
- Ministry of Finance - Indonesia
- Uttam Galva Steels Limited - India
- Vizag Seaport Private Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Miang Besar Coal Terminal - Indonesia
- Wood Mackenzie - Singapore
- Australian Commodity Traders Exchange
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- Eastern Coal Council - USA
- PetroVietnam Power Coal Import and Supply Company
- Bank of Tokyo Mitsubishi UFJ Ltd
- ICICI Bank Limited - India
- Kapuas Tunggal Persada - Indonesia
- Madhucon Powers Ltd - India
- Minerals Council of Australia
- Videocon Industries ltd - India
- OPG Power Generation Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Thiess Contractors Indonesia
- Essar Steel Hazira Ltd - India
- Larsen & Toubro Limited - India
- Petron Corporation, Philippines
- Riau Bara Harum - Indonesia
- Indogreen Group - Indonesia
- The State Trading Corporation of India Ltd
- Sarangani Energy Corporation, Philippines
- Orica Mining Services - Indonesia
- ASAPP Information Group - India
- Indian Energy Exchange, India
- Bukit Asam (Persero) Tbk - Indonesia
- Dalmia Cement Bharat India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Energy Development Corp, Philippines
- Bhatia International Limited - India
- Goldman Sachs - Singapore
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- Simpson Spence & Young - Indonesia
- Coal and Oil Company - UAE
- Vijayanagar Sugar Pvt Ltd - India
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- Binh Thuan Hamico - Vietnam
- MS Steel International - UAE
- Bukit Makmur.PT - Indonesia
- Aboitiz Power Corporation - Philippines
- Mintek Dendrill Indonesia
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- San Jose City I Power Corp, Philippines
- Neyveli Lignite Corporation Ltd, - India
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- Karbindo Abesyapradhi - Indoneisa
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- Indika Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Global Coal Blending Company Limited - Australia
- Wilmar Investment Holdings
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- Trasteel International SA, Italy
- SMC Global Power, Philippines
- London Commodity Brokers - England
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- Kideco Jaya Agung - Indonesia
- Global Green Power PLC Corporation, Philippines
- SMG Consultants - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Chettinad Cement Corporation Ltd - India
- Kaltim Prima Coal - Indonesia
- Thai Mozambique Logistica
- Timah Investasi Mineral - Indoneisa
- Bukit Baiduri Energy - Indonesia
- Attock Cement Pakistan Limited
- Siam City Cement - Thailand
- Holcim Trading Pte Ltd - Singapore
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- Tamil Nadu electricity Board
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- Africa Commodities Group - South Africa
- Parliament of New Zealand
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- Samtan Co., Ltd - South Korea
- Independent Power Producers Association of India
- Intertek Mineral Services - Indonesia
- Port Waratah Coal Services - Australia
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- Savvy Resources Ltd - HongKong
- Alfred C Toepfer International GmbH - Germany
- Tata Chemicals Ltd - India
- The Treasury - Australian Government
- Orica Australia Pty. Ltd.
- Kohat Cement Company Ltd. - Pakistan
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- Agrawal Coal Company - India
- Salva Resources Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Sojitz Corporation - Japan
- Borneo Indobara - Indonesia
- Coalindo Energy - Indonesia
- Eastern Energy - Thailand
- Kumho Petrochemical, South Korea
- GAC Shipping (India) Pvt Ltd
- Mjunction Services Limited - India
- Indo Tambangraya Megah - Indonesia
- Sindya Power Generating Company Private Ltd
- Posco Energy - South Korea
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Electricity Generating Authority of Thailand
- Central Java Power - Indonesia
- Banpu Public Company Limited - Thailand
- Directorate Of Revenue Intelligence - India
- Xindia Steels Limited - India
- Meenaskhi Energy Private Limited - India
- Energy Link Ltd, New Zealand
- Iligan Light & Power Inc, Philippines
- Romanian Commodities Exchange
- Lanco Infratech Ltd - India
- Altura Mining Limited, Indonesia
- Planning Commission, India
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- Chamber of Mines of South Africa
- AsiaOL BioFuels Corp., Philippines
- Meralco Power Generation, Philippines
- Globalindo Alam Lestari - Indonesia
- Parry Sugars Refinery, India
- Gujarat Electricity Regulatory Commission - India
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- IEA Clean Coal Centre - UK
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- Billiton Holdings Pty Ltd - Australia
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- Therma Luzon, Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Ministry of Mines - Canada
- Ind-Barath Power Infra Limited - India
- New Zealand Coal & Carbon
- Oldendorff Carriers - Singapore
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