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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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Thursday, 26 May 22
MARKET INSIGHT - INTERMODAL
The newbuilding market activity has been significantly positive from a dry bulk owner perspective during the first half of 2022. Indeed, the contra ...
Wednesday, 18 May 22
INDONESIAN COAL PRICE REFERENCE DROPPED 4.42% IN MAY
COALspot.com: Indonesian Coal Price Reference for May delivery drops 4.42 per cent month on month.
The Indonesian Coal Price Referen ...
Thursday, 12 May 22
MARKET INSIGHT - INTERMODAL
Almost through half of the year, the overall shipping market continues to show signs of healthiness, after plenty of festivities and holidays that ...
Wednesday, 27 April 22
EUROPEAN UNION'S LNG IMPORTS - BANCHERO COSTA
In 2021, the European Union (27) was the third largest seaborne importer of LNG in the world, with a 15.8% share.
It followed Mainla ...
Tuesday, 26 April 22
CHINA'S APPETITE FOR BAUXITE HITS NEW RECORD AS Q1 IMPORTS JUMP 15.4% Y/Y - BIMCO
Bauxite shipments arriving in China hit new record levels in the first quarter of 2022 and grew at an average annual rate of 12.8% between 2017 and ...
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- AsiaOL BioFuels Corp., Philippines
- Mintek Dendrill Indonesia
- Kideco Jaya Agung - Indonesia
- Jindal Steel & Power Ltd - India
- Metalloyd Limited - United Kingdom
- Bhatia International Limited - India
- Indo Tambangraya Megah - Indonesia
- LBH Netherlands Bv - Netherlands
- Altura Mining Limited, Indonesia
- Directorate Of Revenue Intelligence - India
- Parliament of New Zealand
- Riau Bara Harum - Indonesia
- Marubeni Corporation - India
- Siam City Cement - Thailand
- Maheswari Brothers Coal Limited - India
- Aboitiz Power Corporation - Philippines
- Wilmar Investment Holdings
- SMG Consultants - Indonesia
- Karaikal Port Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Gujarat Sidhee Cement - India
- OPG Power Generation Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Agrawal Coal Company - India
- Commonwealth Bank - Australia
- Borneo Indobara - Indonesia
- Mjunction Services Limited - India
- Formosa Plastics Group - Taiwan
- Goldman Sachs - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Latin American Coal - Colombia
- Kumho Petrochemical, South Korea
- European Bulk Services B.V. - Netherlands
- Africa Commodities Group - South Africa
- IHS Mccloskey Coal Group - USA
- International Coal Ventures Pvt Ltd - India
- Medco Energi Mining Internasional
- New Zealand Coal & Carbon
- Directorate General of MIneral and Coal - Indonesia
- Globalindo Alam Lestari - Indonesia
- IEA Clean Coal Centre - UK
- Global Coal Blending Company Limited - Australia
- Neyveli Lignite Corporation Ltd, - India
- Australian Commodity Traders Exchange
- Cement Manufacturers Association - India
- Therma Luzon, Inc, Philippines
- ASAPP Information Group - India
- Bangladesh Power Developement Board
- Price Waterhouse Coopers - Russia
- VISA Power Limited - India
- Ambuja Cements Ltd - India
- Indian Energy Exchange, India
- Carbofer General Trading SA - India
- Binh Thuan Hamico - Vietnam
- Sindya Power Generating Company Private Ltd
- Singapore Mercantile Exchange
- Gujarat Mineral Development Corp Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Meenaskhi Energy Private Limited - India
- Vedanta Resources Plc - India
- SMC Global Power, Philippines
- Larsen & Toubro Limited - India
- Kartika Selabumi Mining - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Leighton Contractors Pty Ltd - Australia
- Economic Council, Georgia
- Manunggal Multi Energi - Indonesia
- GMR Energy Limited - India
- Chamber of Mines of South Africa
- Kobexindo Tractors - Indoneisa
- South Luzon Thermal Energy Corporation
- Ministry of Transport, Egypt
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Coal and Oil Company - UAE
- Star Paper Mills Limited - India
- Jaiprakash Power Ventures ltd
- SN Aboitiz Power Inc, Philippines
- Simpson Spence & Young - Indonesia
- Mercuria Energy - Indonesia
- Intertek Mineral Services - Indonesia
- CNBM International Corporation - China
- Mercator Lines Limited - India
- TeaM Sual Corporation - Philippines
- Sakthi Sugars Limited - India
- Ministry of Finance - Indonesia
- Heidelberg Cement - Germany
- Sojitz Corporation - Japan
- Posco Energy - South Korea
- Barasentosa Lestari - Indonesia
- ICICI Bank Limited - India
- The State Trading Corporation of India Ltd
- Indonesian Coal Mining Association
- Bukit Makmur.PT - Indonesia
- The Treasury - Australian Government
- Tata Chemicals Ltd - India
- London Commodity Brokers - England
- PNOC Exploration Corporation - Philippines
- San Jose City I Power Corp, Philippines
- Thai Mozambique Logistica
- Timah Investasi Mineral - Indoneisa
- PTC India Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Semirara Mining and Power Corporation, Philippines
- Power Finance Corporation Ltd., India
- Tamil Nadu electricity Board
- Bahari Cakrawala Sebuku - Indonesia
- Anglo American - United Kingdom
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bhushan Steel Limited - India
- Eastern Coal Council - USA
- Petron Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bhoruka Overseas - Indonesia
- Australian Coal Association
- Edison Trading Spa - Italy
- Essar Steel Hazira Ltd - India
- Romanian Commodities Exchange
- CIMB Investment Bank - Malaysia
- MS Steel International - UAE
- Bharathi Cement Corporation - India
- Kalimantan Lumbung Energi - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Parry Sugars Refinery, India
- Attock Cement Pakistan Limited
- Uttam Galva Steels Limited - India
- Madhucon Powers Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Trasteel International SA, Italy
- Georgia Ports Authority, United States
- Renaissance Capital - South Africa
- Samtan Co., Ltd - South Korea
- Petrochimia International Co. Ltd.- Taiwan
- Indogreen Group - Indonesia
- GAC Shipping (India) Pvt Ltd
- Baramulti Group, Indonesia
- McConnell Dowell - Australia
- Global Business Power Corporation, Philippines
- Oldendorff Carriers - Singapore
- Gujarat Electricity Regulatory Commission - India
- Makarim & Taira - Indonesia
- Eastern Energy - Thailand
- Kapuas Tunggal Persada - Indonesia
- Planning Commission, India
- Bukit Baiduri Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Rashtriya Ispat Nigam Limited - India
- GVK Power & Infra Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Electricity Generating Authority of Thailand
- Orica Mining Services - Indonesia
- Energy Development Corp, Philippines
- Kaltim Prima Coal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Ind-Barath Power Infra Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Siam City Cement PLC, Thailand
- Rio Tinto Coal - Australia
- Wood Mackenzie - Singapore
- Sinarmas Energy and Mining - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Semirara Mining Corp, Philippines
- Central Electricity Authority - India
- Vijayanagar Sugar Pvt Ltd - India
- Standard Chartered Bank - UAE
- Savvy Resources Ltd - HongKong
- Global Green Power PLC Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Interocean Group of Companies - India
- Alfred C Toepfer International GmbH - Germany
- Merrill Lynch Commodities Europe
- Malabar Cements Ltd - India
- Vizag Seaport Private Limited - India
- Chettinad Cement Corporation Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Grasim Industreis Ltd - India
- Antam Resourcindo - Indonesia
- Bayan Resources Tbk. - Indonesia
- The University of Queensland
- Banpu Public Company Limited - Thailand
- Iligan Light & Power Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Minerals Council of Australia
- Xindia Steels Limited - India
- Holcim Trading Pte Ltd - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Dalmia Cement Bharat India
- Lanco Infratech Ltd - India
- Bulk Trading Sa - Switzerland
- Videocon Industries ltd - India
- India Bulls Power Limited - India
- Coalindo Energy - Indonesia
- Orica Australia Pty. Ltd.
- Central Java Power - Indonesia
- PowerSource Philippines DevCo
- Deloitte Consulting - India
- Independent Power Producers Association of India
- Energy Link Ltd, New Zealand
- Sree Jayajothi Cements Limited - India
- White Energy Company Limited
- Port Waratah Coal Services - Australia
- Indian Oil Corporation Limited
- Sical Logistics Limited - India
- Aditya Birla Group - India
- Coastal Gujarat Power Limited - India
- Thiess Contractors Indonesia
- Meralco Power Generation, Philippines
- Electricity Authority, New Zealand
- Kepco SPC Power Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Ministry of Mines - Canada
- Indika Energy - Indonesia
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