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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, 19 July 22
DRY BULK MARKET: CAPESIZE MARKET FIRMS THIS WEEK - BALTIC EXCHANGE
Capesize
Firmer sentiment across both basins pushed the Capesize 5TC route average above the $20,000 threshold this week, closing at $24,209. A ...
Tuesday, 19 July 22
WHY SHIPPING MIGHT BE ABOUT TO GET A LITTLE BIT SLOWER - WORLD ECONOMIC FORUM
If shipping is the beating heart of global trade, its pulse is about to get slower.
Faced with uncertainty about which fuels to use in the long ...
Tuesday, 19 July 22
GERMANY'S INCREASED COAL, OIL USE WILL BE TEMPORARY, SCHOLZ SAYS - CNBC
Chancellor Olaf Scholz says Germany’s decision to reactivate coal and oil-fired power plants to relieve energy shortages because of the war i ...
Tuesday, 19 July 22
CHINA'S JUNE DAILY COAL OUTPUT JUMPS ON PEAK SUMMER DEMAND - REUTERS
China’s daily coal output in June rose 6.6 per cent from a month earlier as miners cranked up output ahead of peak summer temperatures, when ...
Tuesday, 19 July 22
SEEING RED? - WOOD MACKENZIE
What a Republican mid-term victory could mean for US energy and climate policy
According to current polling the Republican Party has ...
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- Price Waterhouse Coopers - Russia
- Globalindo Alam Lestari - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- International Coal Ventures Pvt Ltd - India
- Trasteel International SA, Italy
- Carbofer General Trading SA - India
- GVK Power & Infra Limited - India
- Heidelberg Cement - Germany
- Meenaskhi Energy Private Limited - India
- Xindia Steels Limited - India
- Intertek Mineral Services - Indonesia
- Mjunction Services Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Electricity Generating Authority of Thailand
- Madhucon Powers Ltd - India
- Commonwealth Bank - Australia
- Indo Tambangraya Megah - Indonesia
- Ind-Barath Power Infra Limited - India
- Leighton Contractors Pty Ltd - Australia
- Coal and Oil Company - UAE
- India Bulls Power Limited - India
- Bhatia International Limited - India
- Dalmia Cement Bharat India
- SMG Consultants - Indonesia
- MS Steel International - UAE
- Siam City Cement PLC, Thailand
- Global Green Power PLC Corporation, Philippines
- Siam City Cement - Thailand
- Grasim Industreis Ltd - India
- Wood Mackenzie - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Petrochimia International Co. Ltd.- Taiwan
- Bahari Cakrawala Sebuku - Indonesia
- Mercator Lines Limited - India
- Kideco Jaya Agung - Indonesia
- Sakthi Sugars Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bhushan Steel Limited - India
- LBH Netherlands Bv - Netherlands
- Jorong Barutama Greston.PT - Indonesia
- Indika Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Binh Thuan Hamico - Vietnam
- Kumho Petrochemical, South Korea
- Minerals Council of Australia
- Vijayanagar Sugar Pvt Ltd - India
- Central Electricity Authority - India
- Baramulti Group, Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- CIMB Investment Bank - Malaysia
- GN Power Mariveles Coal Plant, Philippines
- PTC India Limited - India
- ICICI Bank Limited - India
- Aboitiz Power Corporation - Philippines
- IEA Clean Coal Centre - UK
- Mintek Dendrill Indonesia
- GAC Shipping (India) Pvt Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Marubeni Corporation - India
- Ministry of Transport, Egypt
- Larsen & Toubro Limited - India
- OPG Power Generation Pvt Ltd - India
- Ministry of Mines - Canada
- Bhoruka Overseas - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Australian Commodity Traders Exchange
- Latin American Coal - Colombia
- Metalloyd Limited - United Kingdom
- TeaM Sual Corporation - Philippines
- Romanian Commodities Exchange
- Pendopo Energi Batubara - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Kaltim Prima Coal - Indonesia
- Merrill Lynch Commodities Europe
- Medco Energi Mining Internasional
- Asmin Koalindo Tuhup - Indonesia
- Africa Commodities Group - South Africa
- Ambuja Cements Ltd - India
- Sree Jayajothi Cements Limited - India
- Therma Luzon, Inc, Philippines
- Aditya Birla Group - India
- The University of Queensland
- Semirara Mining and Power Corporation, Philippines
- Meralco Power Generation, Philippines
- Economic Council, Georgia
- Toyota Tsusho Corporation, Japan
- Kalimantan Lumbung Energi - Indonesia
- Lanco Infratech Ltd - India
- Timah Investasi Mineral - Indoneisa
- Indogreen Group - Indonesia
- Gujarat Sidhee Cement - India
- Bukit Baiduri Energy - Indonesia
- Bharathi Cement Corporation - India
- Bukit Asam (Persero) Tbk - Indonesia
- European Bulk Services B.V. - Netherlands
- Vedanta Resources Plc - India
- South Luzon Thermal Energy Corporation
- Planning Commission, India
- White Energy Company Limited
- Miang Besar Coal Terminal - Indonesia
- VISA Power Limited - India
- Attock Cement Pakistan Limited
- Formosa Plastics Group - Taiwan
- Interocean Group of Companies - India
- Makarim & Taira - Indonesia
- Semirara Mining Corp, Philippines
- Cement Manufacturers Association - India
- Straits Asia Resources Limited - Singapore
- Sindya Power Generating Company Private Ltd
- Altura Mining Limited, Indonesia
- Vizag Seaport Private Limited - India
- Parliament of New Zealand
- The State Trading Corporation of India Ltd
- Riau Bara Harum - Indonesia
- Borneo Indobara - Indonesia
- CNBM International Corporation - China
- Samtan Co., Ltd - South Korea
- Georgia Ports Authority, United States
- Kapuas Tunggal Persada - Indonesia
- Posco Energy - South Korea
- Karbindo Abesyapradhi - Indoneisa
- Kobexindo Tractors - Indoneisa
- Petron Corporation, Philippines
- Coalindo Energy - Indonesia
- Bangladesh Power Developement Board
- Singapore Mercantile Exchange
- New Zealand Coal & Carbon
- AsiaOL BioFuels Corp., Philippines
- Salva Resources Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Port Waratah Coal Services - Australia
- Essar Steel Hazira Ltd - India
- Rashtriya Ispat Nigam Limited - India
- McConnell Dowell - Australia
- Maheswari Brothers Coal Limited - India
- Star Paper Mills Limited - India
- Thiess Contractors Indonesia
- Central Java Power - Indonesia
- Orica Mining Services - Indonesia
- Directorate Of Revenue Intelligence - India
- Power Finance Corporation Ltd., India
- Ceylon Electricity Board - Sri Lanka
- Energy Development Corp, Philippines
- GMR Energy Limited - India
- Karaikal Port Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Rio Tinto Coal - Australia
- Energy Link Ltd, New Zealand
- SMC Global Power, Philippines
- Krishnapatnam Port Company Ltd. - India
- Savvy Resources Ltd - HongKong
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Renaissance Capital - South Africa
- Malabar Cements Ltd - India
- Eastern Coal Council - USA
- Chamber of Mines of South Africa
- Agrawal Coal Company - India
- Kepco SPC Power Corporation, Philippines
- Australian Coal Association
- PetroVietnam Power Coal Import and Supply Company
- Mercuria Energy - Indonesia
- Thai Mozambique Logistica
- Sarangani Energy Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Eastern Energy - Thailand
- Gujarat Electricity Regulatory Commission - India
- Independent Power Producers Association of India
- Cigading International Bulk Terminal - Indonesia
- Bukit Makmur.PT - Indonesia
- Uttam Galva Steels Limited - India
- Bayan Resources Tbk. - Indonesia
- IHS Mccloskey Coal Group - USA
- Orica Australia Pty. Ltd.
- Global Business Power Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- San Jose City I Power Corp, Philippines
- Standard Chartered Bank - UAE
- Tamil Nadu electricity Board
- The Treasury - Australian Government
- Edison Trading Spa - Italy
- Kartika Selabumi Mining - Indonesia
- Deloitte Consulting - India
- Parry Sugars Refinery, India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Wilmar Investment Holdings
- Sojitz Corporation - Japan
- Jaiprakash Power Ventures ltd
- Indian Oil Corporation Limited
- Anglo American - United Kingdom
- Indonesian Coal Mining Association
- Bulk Trading Sa - Switzerland
- Ministry of Finance - Indonesia
- Global Coal Blending Company Limited - Australia
- Sical Logistics Limited - India
- Banpu Public Company Limited - Thailand
- Barasentosa Lestari - Indonesia
- Jindal Steel & Power Ltd - India
- Iligan Light & Power Inc, Philippines
- Indian Energy Exchange, India
- Goldman Sachs - Singapore
- Electricity Authority, New Zealand
- PowerSource Philippines DevCo
- Tata Chemicals Ltd - India
- Simpson Spence & Young - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- London Commodity Brokers - England
- PNOC Exploration Corporation - Philippines
- Gujarat Mineral Development Corp Ltd - India
- SN Aboitiz Power Inc, Philippines
- Videocon Industries ltd - India
- Antam Resourcindo - Indonesia
- ASAPP Information Group - India
- Manunggal Multi Energi - Indonesia
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