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