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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, 29 July 22
GLENCORE TO SUPPLY COAL TO NIPPON STEEL AT $375 PER TON - BLOOMBERG
Glencore Plc, agreed to supply coal to Nippon Steel at one of the highest prices ever paid by the Japan Bloomberg reported on July 27.
...
Friday, 29 July 22
GLOBAL COAL DEMAND IS SET TO RETURN TO ITS ALL-TIME HIGH IN 2022 - IEA
The world’s consumption of coal is set to rise slightly in 2022, taking it back to the record level it reached nearly a decade ago, according ...
Thursday, 28 July 22
CREW FAMILIARISATION IS CRITICAL WHEN TAKING OVER A VESSEL - WEST P&I CLUB
Knowledge to Elevate
When a vessel changes ownership and/or manager, it can take some considerable time before the new crew and mana ...
Thursday, 28 July 22
RETURN OF COAL A THREAT TO EUROPEAN COMPANIES' ESG RATINGS - REUTERS
European companies turning to coal as an alternative to Russian gas face a hit to their environmental, social and governance ratings, leaving them ...
Wednesday, 27 July 22
MARKET INSIGHT - INTERMODAL
Amid the upcoming ban on Russian coal from the EU, which will be in full effect on August 10th, EU nations have been accelerating their coal import ...
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- Cigading International Bulk Terminal - Indonesia
- Manunggal Multi Energi - Indonesia
- Uttam Galva Steels Limited - India
- Indika Energy - Indonesia
- Orica Australia Pty. Ltd.
- Pipit Mutiara Jaya. PT, Indonesia
- Standard Chartered Bank - UAE
- Simpson Spence & Young - Indonesia
- PTC India Limited - India
- Xindia Steels Limited - India
- Australian Coal Association
- Maharashtra Electricity Regulatory Commission - India
- Altura Mining Limited, Indonesia
- Therma Luzon, Inc, Philippines
- Sojitz Corporation - Japan
- Electricity Authority, New Zealand
- OPG Power Generation Pvt Ltd - India
- Bhatia International Limited - India
- Sarangani Energy Corporation, Philippines
- Global Business Power Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Gujarat Sidhee Cement - India
- White Energy Company Limited
- Sree Jayajothi Cements Limited - India
- Antam Resourcindo - Indonesia
- Baramulti Group, Indonesia
- MS Steel International - UAE
- Romanian Commodities Exchange
- Wood Mackenzie - Singapore
- Larsen & Toubro Limited - India
- Ambuja Cements Ltd - India
- Maheswari Brothers Coal Limited - India
- Economic Council, Georgia
- IHS Mccloskey Coal Group - USA
- Bukit Baiduri Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Electricity Generating Authority of Thailand
- European Bulk Services B.V. - Netherlands
- Lanco Infratech Ltd - India
- Medco Energi Mining Internasional
- Anglo American - United Kingdom
- Vedanta Resources Plc - India
- Coalindo Energy - Indonesia
- Chamber of Mines of South Africa
- Kalimantan Lumbung Energi - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Attock Cement Pakistan Limited
- Thiess Contractors Indonesia
- Planning Commission, India
- McConnell Dowell - Australia
- Kapuas Tunggal Persada - Indonesia
- Tamil Nadu electricity Board
- Sinarmas Energy and Mining - Indonesia
- Ind-Barath Power Infra Limited - India
- Ministry of Finance - Indonesia
- Mjunction Services Limited - India
- PNOC Exploration Corporation - Philippines
- Bukit Makmur.PT - Indonesia
- Sical Logistics Limited - India
- Australian Commodity Traders Exchange
- Minerals Council of Australia
- Pendopo Energi Batubara - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Ministry of Transport, Egypt
- Georgia Ports Authority, United States
- Asmin Koalindo Tuhup - Indonesia
- South Luzon Thermal Energy Corporation
- Grasim Industreis Ltd - India
- Mintek Dendrill Indonesia
- Deloitte Consulting - India
- Iligan Light & Power Inc, Philippines
- GVK Power & Infra Limited - India
- Africa Commodities Group - South Africa
- Riau Bara Harum - Indonesia
- Banpu Public Company Limited - Thailand
- Latin American Coal - Colombia
- Bangladesh Power Developement Board
- Coastal Gujarat Power Limited - India
- Formosa Plastics Group - Taiwan
- Indian Oil Corporation Limited
- Bukit Asam (Persero) Tbk - Indonesia
- Indo Tambangraya Megah - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Trasteel International SA, Italy
- Bank of Tokyo Mitsubishi UFJ Ltd
- Madhucon Powers Ltd - India
- Kumho Petrochemical, South Korea
- Mercuria Energy - Indonesia
- Interocean Group of Companies - India
- Mercator Lines Limited - India
- Leighton Contractors Pty Ltd - Australia
- Indian Energy Exchange, India
- Central Electricity Authority - India
- Samtan Co., Ltd - South Korea
- Siam City Cement - Thailand
- International Coal Ventures Pvt Ltd - India
- Heidelberg Cement - Germany
- Karbindo Abesyapradhi - Indoneisa
- Commonwealth Bank - Australia
- Karaikal Port Pvt Ltd - India
- SMG Consultants - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Timah Investasi Mineral - Indoneisa
- Makarim & Taira - Indonesia
- Meenaskhi Energy Private Limited - India
- London Commodity Brokers - England
- Miang Besar Coal Terminal - Indonesia
- Power Finance Corporation Ltd., India
- Goldman Sachs - Singapore
- Savvy Resources Ltd - HongKong
- Ministry of Mines - Canada
- ICICI Bank Limited - India
- Jindal Steel & Power Ltd - India
- Aboitiz Power Corporation - Philippines
- Semirara Mining Corp, Philippines
- CIMB Investment Bank - Malaysia
- The University of Queensland
- SMC Global Power, Philippines
- Meralco Power Generation, Philippines
- Wilmar Investment Holdings
- Petron Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Kepco SPC Power Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Carbofer General Trading SA - India
- The State Trading Corporation of India Ltd
- Gujarat Electricity Regulatory Commission - India
- Kaltim Prima Coal - Indonesia
- Directorate Of Revenue Intelligence - India
- Ceylon Electricity Board - Sri Lanka
- Vijayanagar Sugar Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Coal and Oil Company - UAE
- Salva Resources Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Cement Manufacturers Association - India
- Straits Asia Resources Limited - Singapore
- Rashtriya Ispat Nigam Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Renaissance Capital - South Africa
- Parry Sugars Refinery, India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indonesian Coal Mining Association
- Rio Tinto Coal - Australia
- Binh Thuan Hamico - Vietnam
- Global Green Power PLC Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Eastern Energy - Thailand
- India Bulls Power Limited - India
- Posco Energy - South Korea
- GAC Shipping (India) Pvt Ltd
- Kobexindo Tractors - Indoneisa
- The Treasury - Australian Government
- Indogreen Group - Indonesia
- Merrill Lynch Commodities Europe
- Bayan Resources Tbk. - Indonesia
- Vizag Seaport Private Limited - India
- Tata Chemicals Ltd - India
- Barasentosa Lestari - Indonesia
- Price Waterhouse Coopers - Russia
- Malabar Cements Ltd - India
- Sindya Power Generating Company Private Ltd
- Thai Mozambique Logistica
- Independent Power Producers Association of India
- Globalindo Alam Lestari - Indonesia
- Kartika Selabumi Mining - Indonesia
- Oldendorff Carriers - Singapore
- CNBM International Corporation - China
- Krishnapatnam Port Company Ltd. - India
- Bulk Trading Sa - Switzerland
- Agrawal Coal Company - India
- Bhoruka Overseas - Indonesia
- Eastern Coal Council - USA
- Bhushan Steel Limited - India
- Parliament of New Zealand
- Directorate General of MIneral and Coal - Indonesia
- Borneo Indobara - Indonesia
- Siam City Cement PLC, Thailand
- Chettinad Cement Corporation Ltd - India
- Marubeni Corporation - India
- Dalmia Cement Bharat India
- Semirara Mining and Power Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Kideco Jaya Agung - Indonesia
- PowerSource Philippines DevCo
- Bharathi Cement Corporation - India
- San Jose City I Power Corp, Philippines
- Global Coal Blending Company Limited - Australia
- Alfred C Toepfer International GmbH - Germany
- GMR Energy Limited - India
- VISA Power Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Videocon Industries ltd - India
- Toyota Tsusho Corporation, Japan
- Port Waratah Coal Services - Australia
- Aditya Birla Group - India
- Orica Mining Services - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Edison Trading Spa - Italy
- New Zealand Coal & Carbon
- IEA Clean Coal Centre - UK
- Central Java Power - Indonesia
- Sakthi Sugars Limited - India
- Holcim Trading Pte Ltd - Singapore
- Star Paper Mills Limited - India
- Intertek Mineral Services - Indonesia
- Essar Steel Hazira Ltd - India
- Singapore Mercantile Exchange
- Energy Development Corp, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Energy Link Ltd, New Zealand
- ASAPP Information Group - India
- Gujarat Mineral Development Corp Ltd - India
- Metalloyd Limited - United Kingdom
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