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