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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, 17 August 22
CHINA'S COAL-RICH SHANXI MAKES STRIDES IN HIGH-QUALITY DEVELOPMENT - XINHUA
Shanxi, a major coal-producing province in north China, has made continuous advances in high-quality development over the past decade, according to ...
Wednesday, 17 August 22
PAXOCEAN, HONG LAM MARINE AND BUREAU VERITAS SIGN MOU TO DEVELOP AMMONIA BUNKER VESSEL DESIGN - BUREAU VERITAS
PaxOcean Engineering Pte. Ltd. has signed a Memorandum of Understanding (MOU) with Singapore-based bunker vessel operator Hong Lam Marine and class ...
Wednesday, 17 August 22
GOODFUELSS ASIA-PACIFIC BRANCH KICKSTARTS SUSTAINABLE BIOFUEL DELIVERIES WITH NYK AS FIRST CLIENT - GOOD FUELS
GoodFuels, the leading biofuels pioneer for the global transport industry, has today announced that it has successfully supplied sustainable marine ...
Tuesday, 16 August 22
EU BAN ON RUSSIAN COAL IMPORTS COMES INTO FORCE - DEUTSCHE WELLE
The European Union banned Russian coal imports in response to the invasion of Ukraine as part of sanctions in April. Since then, it’s been sc ...
Thursday, 11 August 22
MARKET INSIGHT - INTERMODAL
On July 22nd, Ukraine signed a deal with Russia to release 22mn tons of grain from Ukraine’s 3 major ports (Yuzhny, Chornomorsk, Odesa). Such ...
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- Global Business Power Corporation, Philippines
- Coal and Oil Company - UAE
- Dalmia Cement Bharat India
- Straits Asia Resources Limited - Singapore
- Cement Manufacturers Association - India
- Petrochimia International Co. Ltd.- Taiwan
- IHS Mccloskey Coal Group - USA
- Aboitiz Power Corporation - Philippines
- Ministry of Finance - Indonesia
- Energy Development Corp, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Australian Coal Association
- Sical Logistics Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Energy Link Ltd, New Zealand
- Petron Corporation, Philippines
- Romanian Commodities Exchange
- Miang Besar Coal Terminal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Independent Power Producers Association of India
- Riau Bara Harum - Indonesia
- Toyota Tsusho Corporation, Japan
- Billiton Holdings Pty Ltd - Australia
- Ambuja Cements Ltd - India
- Videocon Industries ltd - India
- Sojitz Corporation - Japan
- Binh Thuan Hamico - Vietnam
- Merrill Lynch Commodities Europe
- Xindia Steels Limited - India
- Global Coal Blending Company Limited - Australia
- Indika Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Mintek Dendrill Indonesia
- Ind-Barath Power Infra Limited - India
- SN Aboitiz Power Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Indonesian Coal Mining Association
- Directorate General of MIneral and Coal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Banpu Public Company Limited - Thailand
- Meenaskhi Energy Private Limited - India
- The University of Queensland
- Bukit Makmur.PT - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Kobexindo Tractors - Indoneisa
- Orica Australia Pty. Ltd.
- Singapore Mercantile Exchange
- GVK Power & Infra Limited - India
- Posco Energy - South Korea
- Leighton Contractors Pty Ltd - Australia
- Savvy Resources Ltd - HongKong
- Minerals Council of Australia
- The Treasury - Australian Government
- Commonwealth Bank - Australia
- Renaissance Capital - South Africa
- Directorate Of Revenue Intelligence - India
- Attock Cement Pakistan Limited
- Timah Investasi Mineral - Indoneisa
- Thai Mozambique Logistica
- Malabar Cements Ltd - India
- Global Green Power PLC Corporation, Philippines
- Kumho Petrochemical, South Korea
- GN Power Mariveles Coal Plant, Philippines
- Sree Jayajothi Cements Limited - India
- Tamil Nadu electricity Board
- Intertek Mineral Services - Indonesia
- Bayan Resources Tbk. - Indonesia
- SMG Consultants - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Grasim Industreis Ltd - India
- Interocean Group of Companies - India
- Indo Tambangraya Megah - Indonesia
- Jaiprakash Power Ventures ltd
- Alfred C Toepfer International GmbH - Germany
- Bharathi Cement Corporation - India
- Jorong Barutama Greston.PT - Indonesia
- Indogreen Group - Indonesia
- Vizag Seaport Private Limited - India
- White Energy Company Limited
- Maheswari Brothers Coal Limited - India
- Coastal Gujarat Power Limited - India
- PNOC Exploration Corporation - Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Sakthi Sugars Limited - India
- Indian Energy Exchange, India
- Central Electricity Authority - India
- Standard Chartered Bank - UAE
- South Luzon Thermal Energy Corporation
- Power Finance Corporation Ltd., India
- Marubeni Corporation - India
- Heidelberg Cement - Germany
- Siam City Cement - Thailand
- Siam City Cement PLC, Thailand
- The State Trading Corporation of India Ltd
- IEA Clean Coal Centre - UK
- Metalloyd Limited - United Kingdom
- Bangladesh Power Developement Board
- Medco Energi Mining Internasional
- Essar Steel Hazira Ltd - India
- TeaM Sual Corporation - Philippines
- Kalimantan Lumbung Energi - Indonesia
- Latin American Coal - Colombia
- Wilmar Investment Holdings
- Electricity Generating Authority of Thailand
- Salva Resources Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Antam Resourcindo - Indonesia
- Larsen & Toubro Limited - India
- ICICI Bank Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Kepco SPC Power Corporation, Philippines
- PTC India Limited - India
- Bukit Baiduri Energy - Indonesia
- Eastern Coal Council - USA
- San Jose City I Power Corp, Philippines
- Kideco Jaya Agung - Indonesia
- Tata Chemicals Ltd - India
- Barasentosa Lestari - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Kartika Selabumi Mining - Indonesia
- Georgia Ports Authority, United States
- GMR Energy Limited - India
- Vedanta Resources Plc - India
- Semirara Mining Corp, Philippines
- Coalindo Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Formosa Plastics Group - Taiwan
- India Bulls Power Limited - India
- Samtan Co., Ltd - South Korea
- Holcim Trading Pte Ltd - Singapore
- Chettinad Cement Corporation Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Trasteel International SA, Italy
- Jindal Steel & Power Ltd - India
- PowerSource Philippines DevCo
- Australian Commodity Traders Exchange
- International Coal Ventures Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Kaltim Prima Coal - Indonesia
- Edison Trading Spa - Italy
- Bhatia International Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Borneo Indobara - Indonesia
- Bhushan Steel Limited - India
- Eastern Energy - Thailand
- Mercator Lines Limited - India
- Parliament of New Zealand
- Agrawal Coal Company - India
- Sindya Power Generating Company Private Ltd
- New Zealand Coal & Carbon
- Planning Commission, India
- Altura Mining Limited, Indonesia
- Parry Sugars Refinery, India
- Aditya Birla Group - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Gujarat Sidhee Cement - India
- Rio Tinto Coal - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Thiess Contractors Indonesia
- Cigading International Bulk Terminal - Indonesia
- Iligan Light & Power Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- VISA Power Limited - India
- Kapuas Tunggal Persada - Indonesia
- CIMB Investment Bank - Malaysia
- OPG Power Generation Pvt Ltd - India
- Africa Commodities Group - South Africa
- Karaikal Port Pvt Ltd - India
- CNBM International Corporation - China
- Ministry of Transport, Egypt
- LBH Netherlands Bv - Netherlands
- SMC Global Power, Philippines
- Gujarat Electricity Regulatory Commission - India
- Central Java Power - Indonesia
- Price Waterhouse Coopers - Russia
- Port Waratah Coal Services - Australia
- London Commodity Brokers - England
- Semirara Mining and Power Corporation, Philippines
- Carbofer General Trading SA - India
- Mercuria Energy - Indonesia
- Goldman Sachs - Singapore
- Wood Mackenzie - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mjunction Services Limited - India
- MS Steel International - UAE
- Ceylon Electricity Board - Sri Lanka
- Anglo American - United Kingdom
- Indian Oil Corporation Limited
- McConnell Dowell - Australia
- Sarangani Energy Corporation, Philippines
- Star Paper Mills Limited - India
- Oldendorff Carriers - Singapore
- Deloitte Consulting - India
- Baramulti Group, Indonesia
- Meralco Power Generation, Philippines
- Bulk Trading Sa - Switzerland
- Maharashtra Electricity Regulatory Commission - India
- Makarim & Taira - Indonesia
- Simpson Spence & Young - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Chamber of Mines of South Africa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Orica Mining Services - Indonesia
- Economic Council, Georgia
- PetroVietnam Power Coal Import and Supply Company
- AsiaOL BioFuels Corp., Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Uttam Galva Steels Limited - India
- ASAPP Information Group - India
- Manunggal Multi Energi - Indonesia
- Therma Luzon, Inc, Philippines
- Lanco Infratech Ltd - India
- Madhucon Powers Ltd - India
- Electricity Authority, New Zealand
- Ministry of Mines - Canada
- Globalindo Alam Lestari - Indonesia
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