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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, 23 August 22
SHIPPING INDUSTRY TO REMOVE THE INDIAN OCEAN HIGH RISK AREA - BIMCO
After more than a decade of effective threat-reducing counter-piracy operations the shipping industry has removed the ‘Indian Ocean High Risk ...
Tuesday, 23 August 22
SHIPPING: GLOBAL TAX REFORM - WATSON FARLEY & WILLIAMS
OECD rules designed to implement a global minimum corporate tax rate for very large multinational groups have now been published and are expected t ...
Tuesday, 23 August 22
PARTIES CONCLUDE JOINT R&D AGREEMENT FOR WORLD’S FIRST AMMONIA FLOATING STORAGE AND REGASIFICATION BARGE CONTRIBUTING TO PROMOTING THE EARLY INTRODUCTION OF AMMONIA FUEL - NYK
NYK Line, Nihon Shipyard Co., Ltd. (NSY), ClassNK, and IHI Corporation (IHI) signed a joint research and development agreement for the commercializ ...
Monday, 22 August 22
INDONESIAN GOVERNMENT IMPOSED ON NEW PROGRESSIVE ROYALTIES FOR COAL
Indonesian President Joko Widodo has signed a Government Regulation (Number 26 of 2022) on 15 August 2022 related to the progressive royalty rates ...
Monday, 22 August 22
CHINA'S JULY RUSSIAN COAL IMPORTS HIT 5-YR HIGH AS WEST SHUNS MOSCOW - REUTERS
China’s coal imports from Russia jumped 14% in July from a year earlier to their highest in at least five years, as China bought discounted c ...
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- Port Waratah Coal Services - Australia
- Parry Sugars Refinery, India
- Interocean Group of Companies - India
- Toyota Tsusho Corporation, Japan
- Karbindo Abesyapradhi - Indoneisa
- SMG Consultants - Indonesia
- Marubeni Corporation - India
- Bahari Cakrawala Sebuku - Indonesia
- Ministry of Finance - Indonesia
- Banpu Public Company Limited - Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Kideco Jaya Agung - Indonesia
- Energy Link Ltd, New Zealand
- Semirara Mining and Power Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Eastern Coal Council - USA
- GAC Shipping (India) Pvt Ltd
- Mercator Lines Limited - India
- The University of Queensland
- Offshore Bulk Terminal Pte Ltd, Singapore
- Standard Chartered Bank - UAE
- Sarangani Energy Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Timah Investasi Mineral - Indoneisa
- Semirara Mining Corp, Philippines
- Malabar Cements Ltd - India
- Antam Resourcindo - Indonesia
- Mercuria Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Borneo Indobara - Indonesia
- New Zealand Coal & Carbon
- Orica Mining Services - Indonesia
- Barasentosa Lestari - Indonesia
- McConnell Dowell - Australia
- Karaikal Port Pvt Ltd - India
- Bhatia International Limited - India
- Independent Power Producers Association of India
- GMR Energy Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Commonwealth Bank - Australia
- Gujarat Electricity Regulatory Commission - India
- Global Business Power Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Economic Council, Georgia
- SMC Global Power, Philippines
- Sojitz Corporation - Japan
- Romanian Commodities Exchange
- Wood Mackenzie - Singapore
- South Luzon Thermal Energy Corporation
- PetroVietnam Power Coal Import and Supply Company
- Bharathi Cement Corporation - India
- Indo Tambangraya Megah - Indonesia
- Chettinad Cement Corporation Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Deloitte Consulting - India
- Oldendorff Carriers - Singapore
- Simpson Spence & Young - Indonesia
- Kobexindo Tractors - Indoneisa
- Krishnapatnam Port Company Ltd. - India
- Agrawal Coal Company - India
- ASAPP Information Group - India
- Central Electricity Authority - India
- London Commodity Brokers - England
- Manunggal Multi Energi - Indonesia
- Kepco SPC Power Corporation, Philippines
- Larsen & Toubro Limited - India
- Indian Oil Corporation Limited
- Intertek Mineral Services - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Riau Bara Harum - Indonesia
- Sindya Power Generating Company Private Ltd
- Merrill Lynch Commodities Europe
- Coal and Oil Company - UAE
- Straits Asia Resources Limited - Singapore
- Metalloyd Limited - United Kingdom
- Indogreen Group - Indonesia
- Price Waterhouse Coopers - Russia
- Binh Thuan Hamico - Vietnam
- Ind-Barath Power Infra Limited - India
- Latin American Coal - Colombia
- Global Green Power PLC Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Rashtriya Ispat Nigam Limited - India
- Essar Steel Hazira Ltd - India
- Pendopo Energi Batubara - Indonesia
- Maheswari Brothers Coal Limited - India
- Aditya Birla Group - India
- Mjunction Services Limited - India
- Australian Coal Association
- Siam City Cement PLC, Thailand
- Kaltim Prima Coal - Indonesia
- VISA Power Limited - India
- Miang Besar Coal Terminal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Vizag Seaport Private Limited - India
- Formosa Plastics Group - Taiwan
- Global Coal Blending Company Limited - Australia
- Kohat Cement Company Ltd. - Pakistan
- Directorate General of MIneral and Coal - Indonesia
- Sical Logistics Limited - India
- Attock Cement Pakistan Limited
- IHS Mccloskey Coal Group - USA
- Electricity Authority, New Zealand
- Altura Mining Limited, Indonesia
- Bhushan Steel Limited - India
- Chamber of Mines of South Africa
- Iligan Light & Power Inc, Philippines
- Coalindo Energy - Indonesia
- India Bulls Power Limited - India
- Africa Commodities Group - South Africa
- Jindal Steel & Power Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Parliament of New Zealand
- Vedanta Resources Plc - India
- Tata Chemicals Ltd - India
- The State Trading Corporation of India Ltd
- Sakthi Sugars Limited - India
- Bukit Makmur.PT - Indonesia
- Bayan Resources Tbk. - Indonesia
- Lanco Infratech Ltd - India
- The Treasury - Australian Government
- Heidelberg Cement - Germany
- Eastern Energy - Thailand
- GVK Power & Infra Limited - India
- Cigading International Bulk Terminal - Indonesia
- Anglo American - United Kingdom
- Kumho Petrochemical, South Korea
- Sree Jayajothi Cements Limited - India
- Samtan Co., Ltd - South Korea
- TNB Fuel Sdn Bhd - Malaysia
- Videocon Industries ltd - India
- Planning Commission, India
- Indika Energy - Indonesia
- Baramulti Group, Indonesia
- Holcim Trading Pte Ltd - Singapore
- IEA Clean Coal Centre - UK
- Rio Tinto Coal - Australia
- International Coal Ventures Pvt Ltd - India
- Carbofer General Trading SA - India
- Singapore Mercantile Exchange
- Vijayanagar Sugar Pvt Ltd - India
- Xindia Steels Limited - India
- Indian Energy Exchange, India
- GN Power Mariveles Coal Plant, Philippines
- Kartika Selabumi Mining - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- MS Steel International - UAE
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Edison Trading Spa - Italy
- Uttam Galva Steels Limited - India
- Australian Commodity Traders Exchange
- Renaissance Capital - South Africa
- Bulk Trading Sa - Switzerland
- AsiaOL BioFuels Corp., Philippines
- Siam City Cement - Thailand
- Star Paper Mills Limited - India
- Sinarmas Energy and Mining - Indonesia
- Ceylon Electricity Board - Sri Lanka
- OPG Power Generation Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Energy Development Corp, Philippines
- White Energy Company Limited
- Georgia Ports Authority, United States
- Medco Energi Mining Internasional
- Goldman Sachs - Singapore
- ICICI Bank Limited - India
- Mintek Dendrill Indonesia
- Posco Energy - South Korea
- Orica Australia Pty. Ltd.
- Therma Luzon, Inc, Philippines
- Jaiprakash Power Ventures ltd
- Kalimantan Lumbung Energi - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ministry of Transport, Egypt
- Indonesian Coal Mining Association
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Madhucon Powers Ltd - India
- Power Finance Corporation Ltd., India
- Thai Mozambique Logistica
- Grasim Industreis Ltd - India
- CNBM International Corporation - China
- Dalmia Cement Bharat India
- Leighton Contractors Pty Ltd - Australia
- PNOC Exploration Corporation - Philippines
- Directorate Of Revenue Intelligence - India
- Ministry of Mines - Canada
- Makarim & Taira - Indonesia
- Cement Manufacturers Association - India
- Gujarat Mineral Development Corp Ltd - India
- Salva Resources Pvt Ltd - India
- PowerSource Philippines DevCo
- Kapuas Tunggal Persada - Indonesia
- Wilmar Investment Holdings
- Central Java Power - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Trasteel International SA, Italy
- Meralco Power Generation, Philippines
- TeaM Sual Corporation - Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bangladesh Power Developement Board
- Thiess Contractors Indonesia
- Alfred C Toepfer International GmbH - Germany
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Sidhee Cement - India
- Tamil Nadu electricity Board
- Electricity Generating Authority of Thailand
- LBH Netherlands Bv - Netherlands
- Bukit Baiduri Energy - Indonesia
- Minerals Council of Australia
- Petron Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PTC India Limited - India
- European Bulk Services B.V. - Netherlands
- Meenaskhi Energy Private Limited - India
- Aboitiz Power Corporation - Philippines
- Bhoruka Overseas - Indonesia
- Ambuja Cements Ltd - India
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