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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, 10 August 22
THE FUTURE OF COAL: EIGHT KEY THEMES FROM THE GLOBAL COAL FORUM - WOOD MACKENZIE
Coal investors face a multi-layered and unavoidable challenge: markets distorted by war, trade constraints and the existential threat of the energy ...
Saturday, 06 August 22
SUMITOMO Q1 PROFIT RISES 45% ON STRONGER PRICES OF COAL, NICKEL - REUTERS
Japanese trading house Sumitomo Corp 8053.T said on Wednesday its net profit for the April-June quarter rose 45% to a record thanks to higher price ...
Saturday, 06 August 22
GERMANY'S ENERGY U-TURN: COAL INSTEAD OF GAS - DEUTSCHE WELLE
Berlin has realized it will never again import as much energy from Russia as before the Ukraine war. So the challenge is to wean Germany off its de ...
Saturday, 30 July 22
NUANCES OF FORCE MAJEURE CLAUSE - BALTIC EXCHANGE
Knowledge to Elevate
In NKD Maritime Limited v. Bart Maritime (No 2) Inc (Shagang Giant) [2022] EWHC 1615 (Comm), Bart Maritime (No 2) Inc (th ...
Saturday, 30 July 22
AEMO URGES QUICKER SHIFT TO RENEWABLES AMID COAL FAILURES AND SOARING FOSSIL FUEL COSTS
The Australian Energy Market Operator has called for an accelerated shift to wind and solar, backed up by batteries and other storage, as a devasta ...
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- Bukit Baiduri Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- LBH Netherlands Bv - Netherlands
- PetroVietnam Power Coal Import and Supply Company
- Bhoruka Overseas - Indonesia
- McConnell Dowell - Australia
- Minerals Council of Australia
- GVK Power & Infra Limited - India
- Australian Coal Association
- The Treasury - Australian Government
- Formosa Plastics Group - Taiwan
- Meralco Power Generation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bulk Trading Sa - Switzerland
- Semirara Mining Corp, Philippines
- Global Green Power PLC Corporation, Philippines
- Kumho Petrochemical, South Korea
- European Bulk Services B.V. - Netherlands
- Commonwealth Bank - Australia
- Jorong Barutama Greston.PT - Indonesia
- PNOC Exploration Corporation - Philippines
- Baramulti Group, Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Larsen & Toubro Limited - India
- Antam Resourcindo - Indonesia
- IEA Clean Coal Centre - UK
- Indian Energy Exchange, India
- Goldman Sachs - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Mjunction Services Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PTC India Limited - India
- Jindal Steel & Power Ltd - India
- Star Paper Mills Limited - India
- Petron Corporation, Philippines
- Romanian Commodities Exchange
- Altura Mining Limited, Indonesia
- Lanco Infratech Ltd - India
- Electricity Generating Authority of Thailand
- San Jose City I Power Corp, Philippines
- Jaiprakash Power Ventures ltd
- Bangladesh Power Developement Board
- Indonesian Coal Mining Association
- Simpson Spence & Young - Indonesia
- Binh Thuan Hamico - Vietnam
- GN Power Mariveles Coal Plant, Philippines
- Dalmia Cement Bharat India
- Ind-Barath Power Infra Limited - India
- Kohat Cement Company Ltd. - Pakistan
- ICICI Bank Limited - India
- GAC Shipping (India) Pvt Ltd
- Karbindo Abesyapradhi - Indoneisa
- Merrill Lynch Commodities Europe
- Indogreen Group - Indonesia
- Marubeni Corporation - India
- Medco Energi Mining Internasional
- Uttam Galva Steels Limited - India
- Carbofer General Trading SA - India
- Anglo American - United Kingdom
- Gujarat Mineral Development Corp Ltd - India
- Independent Power Producers Association of India
- Tata Chemicals Ltd - India
- Mercuria Energy - Indonesia
- Siam City Cement - Thailand
- Salva Resources Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- TeaM Sual Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- White Energy Company Limited
- Madhucon Powers Ltd - India
- Tamil Nadu electricity Board
- CIMB Investment Bank - Malaysia
- Samtan Co., Ltd - South Korea
- Grasim Industreis Ltd - India
- Thiess Contractors Indonesia
- Ministry of Finance - Indonesia
- Metalloyd Limited - United Kingdom
- Timah Investasi Mineral - Indoneisa
- Vedanta Resources Plc - India
- Kapuas Tunggal Persada - Indonesia
- Central Java Power - Indonesia
- Directorate Of Revenue Intelligence - India
- Ministry of Transport, Egypt
- Miang Besar Coal Terminal - Indonesia
- Ministry of Mines - Canada
- New Zealand Coal & Carbon
- Krishnapatnam Port Company Ltd. - India
- Chamber of Mines of South Africa
- Meenaskhi Energy Private Limited - India
- AsiaOL BioFuels Corp., Philippines
- Toyota Tsusho Corporation, Japan
- Coal and Oil Company - UAE
- Global Business Power Corporation, Philippines
- ASAPP Information Group - India
- Agrawal Coal Company - India
- India Bulls Power Limited - India
- Mercator Lines Limited - India
- Wilmar Investment Holdings
- Parliament of New Zealand
- Bukit Makmur.PT - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Essar Steel Hazira Ltd - India
- Riau Bara Harum - Indonesia
- Malabar Cements Ltd - India
- The State Trading Corporation of India Ltd
- Kepco SPC Power Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Gujarat Sidhee Cement - India
- SMC Global Power, Philippines
- Renaissance Capital - South Africa
- Bank of Tokyo Mitsubishi UFJ Ltd
- OPG Power Generation Pvt Ltd - India
- CNBM International Corporation - China
- London Commodity Brokers - England
- Energy Link Ltd, New Zealand
- Sakthi Sugars Limited - India
- Indian Oil Corporation Limited
- Therma Luzon, Inc, Philippines
- Central Electricity Authority - India
- Sojitz Corporation - Japan
- Chettinad Cement Corporation Ltd - India
- MS Steel International - UAE
- Straits Asia Resources Limited - Singapore
- Ambuja Cements Ltd - India
- Oldendorff Carriers - Singapore
- Rashtriya Ispat Nigam Limited - India
- Semirara Mining and Power Corporation, Philippines
- Siam City Cement PLC, Thailand
- Global Coal Blending Company Limited - Australia
- Directorate General of MIneral and Coal - Indonesia
- Coalindo Energy - Indonesia
- Edison Trading Spa - Italy
- Aditya Birla Group - India
- Bharathi Cement Corporation - India
- Pendopo Energi Batubara - Indonesia
- Maheswari Brothers Coal Limited - India
- SMG Consultants - Indonesia
- SN Aboitiz Power Inc, Philippines
- Barasentosa Lestari - Indonesia
- Posco Energy - South Korea
- Vijayanagar Sugar Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Holcim Trading Pte Ltd - Singapore
- Heidelberg Cement - Germany
- Planning Commission, India
- Interocean Group of Companies - India
- Eastern Energy - Thailand
- Wood Mackenzie - Singapore
- Gujarat Electricity Regulatory Commission - India
- Australian Commodity Traders Exchange
- Trasteel International SA, Italy
- Kartika Selabumi Mining - Indonesia
- Energy Development Corp, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Coastal Gujarat Power Limited - India
- Iligan Light & Power Inc, Philippines
- Mintek Dendrill Indonesia
- Intertek Mineral Services - Indonesia
- Globalindo Alam Lestari - Indonesia
- GMR Energy Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bhushan Steel Limited - India
- Thai Mozambique Logistica
- Orica Australia Pty. Ltd.
- Standard Chartered Bank - UAE
- Petrochimia International Co. Ltd.- Taiwan
- Kalimantan Lumbung Energi - Indonesia
- PowerSource Philippines DevCo
- Bahari Cakrawala Sebuku - Indonesia
- Latin American Coal - Colombia
- Indika Energy - Indonesia
- Bhatia International Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- VISA Power Limited - India
- Banpu Public Company Limited - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sinarmas Energy and Mining - Indonesia
- South Luzon Thermal Energy Corporation
- Sical Logistics Limited - India
- Port Waratah Coal Services - Australia
- The University of Queensland
- Georgia Ports Authority, United States
- Singapore Mercantile Exchange
- Rio Tinto Coal - Australia
- Indo Tambangraya Megah - Indonesia
- Africa Commodities Group - South Africa
- Makarim & Taira - Indonesia
- Cement Manufacturers Association - India
- Karaikal Port Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Attock Cement Pakistan Limited
- Deloitte Consulting - India
- Sree Jayajothi Cements Limited - India
- Xindia Steels Limited - India
- Billiton Holdings Pty Ltd - Australia
- Parry Sugars Refinery, India
- Power Finance Corporation Ltd., India
- Orica Mining Services - Indonesia
- Electricity Authority, New Zealand
- Asmin Koalindo Tuhup - Indonesia
- Eastern Coal Council - USA
- IHS Mccloskey Coal Group - USA
- Price Waterhouse Coopers - Russia
- Sindya Power Generating Company Private Ltd
- Sarangani Energy Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Economic Council, Georgia
- Kideco Jaya Agung - Indonesia
- Vizag Seaport Private Limited - India
- Borneo Indobara - Indonesia
- Videocon Industries ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
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