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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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- Pendopo Energi Batubara - Indonesia
- Barasentosa Lestari - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Semirara Mining Corp, Philippines
- Sical Logistics Limited - India
- Kartika Selabumi Mining - Indonesia
- Anglo American - United Kingdom
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- Mercator Lines Limited - India
- SMC Global Power, Philippines
- Chettinad Cement Corporation Ltd - India
- Indian Energy Exchange, India
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- Kobexindo Tractors - Indoneisa
- Krishnapatnam Port Company Ltd. - India
- Leighton Contractors Pty Ltd - Australia
- Binh Thuan Hamico - Vietnam
- Indika Energy - Indonesia
- Georgia Ports Authority, United States
- Siam City Cement PLC, Thailand
- LBH Netherlands Bv - Netherlands
- Jindal Steel & Power Ltd - India
- Australian Commodity Traders Exchange
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- Goldman Sachs - Singapore
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- Mjunction Services Limited - India
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- Tamil Nadu electricity Board
- Coal and Oil Company - UAE
- IEA Clean Coal Centre - UK
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- White Energy Company Limited
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- Bulk Trading Sa - Switzerland
- Videocon Industries ltd - India
- Directorate Of Revenue Intelligence - India
- London Commodity Brokers - England
- Bahari Cakrawala Sebuku - Indonesia
- Toyota Tsusho Corporation, Japan
- ASAPP Information Group - India
- PTC India Limited - India
- Billiton Holdings Pty Ltd - Australia
- Miang Besar Coal Terminal - Indonesia
- Merrill Lynch Commodities Europe
- Marubeni Corporation - India
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- Global Green Power PLC Corporation, Philippines
- Renaissance Capital - South Africa
- Commonwealth Bank - Australia
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- McConnell Dowell - Australia
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- Filglen & Citicon Mining (HK) Ltd - Hong Kong
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- Orica Australia Pty. Ltd.
- Energy Development Corp, Philippines
- Tata Chemicals Ltd - India
- The Treasury - Australian Government
- Wood Mackenzie - Singapore
- Bhatia International Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Central Java Power - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Mintek Dendrill Indonesia
- PowerSource Philippines DevCo
- Vijayanagar Sugar Pvt Ltd - India
- Mercuria Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- Kohat Cement Company Ltd. - Pakistan
- TNB Fuel Sdn Bhd - Malaysia
- Star Paper Mills Limited - India
- Medco Energi Mining Internasional
- Sojitz Corporation - Japan
- Bangladesh Power Developement Board
- Bhushan Steel Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indogreen Group - Indonesia
- Romanian Commodities Exchange
- Indonesian Coal Mining Association
- Bank of Tokyo Mitsubishi UFJ Ltd
- Altura Mining Limited, Indonesia
- Price Waterhouse Coopers - Russia
- Energy Link Ltd, New Zealand
- Samtan Co., Ltd - South Korea
- PNOC Exploration Corporation - Philippines
- Kumho Petrochemical, South Korea
- Meenaskhi Energy Private Limited - India
- Ministry of Mines - Canada
- Kaltim Prima Coal - Indonesia
- Metalloyd Limited - United Kingdom
- Agrawal Coal Company - India
- Independent Power Producers Association of India
- IHS Mccloskey Coal Group - USA
- Larsen & Toubro Limited - India
- Madhucon Powers Ltd - India
- Karaikal Port Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Dalmia Cement Bharat India
- Economic Council, Georgia
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- Banpu Public Company Limited - Thailand
- Australian Coal Association
- TeaM Sual Corporation - Philippines
- Global Business Power Corporation, Philippines
- Edison Trading Spa - Italy
- Straits Asia Resources Limited - Singapore
- Planning Commission, India
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- Antam Resourcindo - Indonesia
- Africa Commodities Group - South Africa
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- Minerals Council of Australia
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- Globalindo Alam Lestari - Indonesia
- Essar Steel Hazira Ltd - India
- Ambuja Cements Ltd - India
- Ministry of Finance - Indonesia
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- Central Electricity Authority - India
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- Bukit Makmur.PT - Indonesia
- Uttam Galva Steels Limited - India
- Bhoruka Overseas - Indonesia
- South Luzon Thermal Energy Corporation
- Siam City Cement - Thailand
- Trasteel International SA, Italy
- Borneo Indobara - Indonesia
- New Zealand Coal & Carbon
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- Baramulti Group, Indonesia
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- Standard Chartered Bank - UAE
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- Power Finance Corporation Ltd., India
- Bukit Baiduri Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Carbofer General Trading SA - India
- VISA Power Limited - India
- Indian Oil Corporation Limited
- International Coal Ventures Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Kideco Jaya Agung - Indonesia
- Global Coal Blending Company Limited - Australia
- Gujarat Mineral Development Corp Ltd - India
- Xindia Steels Limited - India
- Thai Mozambique Logistica
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- Lanco Infratech Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Orica Mining Services - Indonesia
- Formosa Plastics Group - Taiwan
- Aboitiz Power Corporation - Philippines
- Coalindo Energy - Indonesia
- Meralco Power Generation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Aditya Birla Group - India
- Salva Resources Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Riau Bara Harum - Indonesia
- Attock Cement Pakistan Limited
- GAC Shipping (India) Pvt Ltd
- AsiaOL BioFuels Corp., Philippines
- Interocean Group of Companies - India
- Savvy Resources Ltd - HongKong
- CNBM International Corporation - China
- European Bulk Services B.V. - Netherlands
- GN Power Mariveles Coal Plant, Philippines
- India Bulls Power Limited - India
- GMR Energy Limited - India
- Malabar Cements Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Posco Energy - South Korea
- Ind-Barath Power Infra Limited - India
- OPG Power Generation Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Sakthi Sugars Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Eastern Energy - Thailand
- CIMB Investment Bank - Malaysia
- ICICI Bank Limited - India
- Bharathi Cement Corporation - India
- San Jose City I Power Corp, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Maheswari Brothers Coal Limited - India
- The University of Queensland
- The State Trading Corporation of India Ltd
- Neyveli Lignite Corporation Ltd, - India
- Sarangani Energy Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Eastern Coal Council - USA
- Jorong Barutama Greston.PT - Indonesia
- Port Waratah Coal Services - Australia
- Iligan Light & Power Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Petron Corporation, Philippines
- Electricity Generating Authority of Thailand
- Coastal Gujarat Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Parliament of New Zealand
- Heidelberg Cement - Germany
- Offshore Bulk Terminal Pte Ltd, Singapore
- Directorate General of MIneral and Coal - Indonesia
- Vizag Seaport Private Limited - India
- Holcim Trading Pte Ltd - Singapore
- Ministry of Transport, Egypt
- MS Steel International - UAE
- GVK Power & Infra Limited - India
- SMG Consultants - Indonesia
- Indo Tambangraya Megah - Indonesia
- Vedanta Resources Plc - India
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