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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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Monday, 21 March 22
A FORCE MAJEURE TO BE RECKONED WITH - BALTIC EXCHANGE
Sanctions cause payment confusion
This dispute in MUR Shipping BV v. RTI Ltd [2022] EWHC 467 (Comm) related to an owner’s purported exercis ...
Monday, 21 March 22
CHINA'S COAL OUTPUT UP 10.3 PCT IN FIRST TWO MONTHS - XINHUA
China’s raw coal output posted fast growth in the first two months of 2022, while coal imports continued to shrink, official data showed.
...
Tuesday, 15 March 22
INDUSTRY VETERANS & ORGANIZATIONS HONOURED WITH THE PRESTIGIOUS SHIPTEK INTERNATIONAL AWARDS 2022
Press Release: The 15th edition of the prestigious ShipTek International Conference & Awards 2022 concluded successfully from March 7th - 8th 2 ...
Tuesday, 15 March 22
CHINA'S COAL OUTPUT GROWS TO STABILIZE MARKET SUPPLY - XINHUA
China’s coal market has seen growth in output since late February amid the country’s efforts to stabilize production and ensure supply, ...
Tuesday, 08 March 22
RUSSIA-UKRAINE CONFLICT ADDS IMPETUS TO ASIA'S ENERGY TRANSITION - IEEFA
Clean energy alternatives are a crucial hedge against future disruptions in global commodity markets
Russia’s invasion of Ukra ...
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- Straits Asia Resources Limited - Singapore
- Indo Tambangraya Megah - Indonesia
- Binh Thuan Hamico - Vietnam
- Coastal Gujarat Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- Ministry of Mines - Canada
- Intertek Mineral Services - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Aditya Birla Group - India
- Kalimantan Lumbung Energi - Indonesia
- Electricity Generating Authority of Thailand
- White Energy Company Limited
- New Zealand Coal & Carbon
- VISA Power Limited - India
- Mjunction Services Limited - India
- Coalindo Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- ICICI Bank Limited - India
- Kumho Petrochemical, South Korea
- Antam Resourcindo - Indonesia
- Deloitte Consulting - India
- Therma Luzon, Inc, Philippines
- Bukit Makmur.PT - Indonesia
- Meralco Power Generation, Philippines
- Romanian Commodities Exchange
- Billiton Holdings Pty Ltd - Australia
- Sinarmas Energy and Mining - Indonesia
- Karaikal Port Pvt Ltd - India
- Australian Coal Association
- TeaM Sual Corporation - Philippines
- Attock Cement Pakistan Limited
- Directorate Of Revenue Intelligence - India
- Karbindo Abesyapradhi - Indoneisa
- Renaissance Capital - South Africa
- Orica Australia Pty. Ltd.
- GAC Shipping (India) Pvt Ltd
- Ministry of Transport, Egypt
- IEA Clean Coal Centre - UK
- Toyota Tsusho Corporation, Japan
- Electricity Authority, New Zealand
- Madhucon Powers Ltd - India
- Medco Energi Mining Internasional
- Sojitz Corporation - Japan
- Parry Sugars Refinery, India
- Rashtriya Ispat Nigam Limited - India
- Heidelberg Cement - Germany
- Port Waratah Coal Services - Australia
- Riau Bara Harum - Indonesia
- Indogreen Group - Indonesia
- London Commodity Brokers - England
- Sakthi Sugars Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Lanco Infratech Ltd - India
- Xindia Steels Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Jorong Barutama Greston.PT - Indonesia
- GMR Energy Limited - India
- Grasim Industreis Ltd - India
- Energy Link Ltd, New Zealand
- Chettinad Cement Corporation Ltd - India
- Bhoruka Overseas - Indonesia
- IHS Mccloskey Coal Group - USA
- Kartika Selabumi Mining - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Mercuria Energy - Indonesia
- The Treasury - Australian Government
- Wood Mackenzie - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Merrill Lynch Commodities Europe
- Africa Commodities Group - South Africa
- Central Electricity Authority - India
- European Bulk Services B.V. - Netherlands
- Barasentosa Lestari - Indonesia
- Altura Mining Limited, Indonesia
- PTC India Limited - India
- Semirara Mining Corp, Philippines
- San Jose City I Power Corp, Philippines
- Power Finance Corporation Ltd., India
- McConnell Dowell - Australia
- GN Power Mariveles Coal Plant, Philippines
- Thiess Contractors Indonesia
- Gujarat Sidhee Cement - India
- Pendopo Energi Batubara - Indonesia
- Mercator Lines Limited - India
- Aboitiz Power Corporation - Philippines
- Agrawal Coal Company - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Asia Pacific Energy Resources Ventures Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Bhushan Steel Limited - India
- Cement Manufacturers Association - India
- Globalindo Alam Lestari - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Baramulti Group, Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indika Energy - Indonesia
- Larsen & Toubro Limited - India
- Samtan Co., Ltd - South Korea
- Simpson Spence & Young - Indonesia
- Meenaskhi Energy Private Limited - India
- Singapore Mercantile Exchange
- Jaiprakash Power Ventures ltd
- AsiaOL BioFuels Corp., Philippines
- Cigading International Bulk Terminal - Indonesia
- South Luzon Thermal Energy Corporation
- Makarim & Taira - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Goldman Sachs - Singapore
- Petron Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Bayan Resources Tbk. - Indonesia
- Global Business Power Corporation, Philippines
- Central Java Power - Indonesia
- India Bulls Power Limited - India
- Dalmia Cement Bharat India
- Bulk Trading Sa - Switzerland
- Maheswari Brothers Coal Limited - India
- SN Aboitiz Power Inc, Philippines
- Savvy Resources Ltd - HongKong
- Orica Mining Services - Indonesia
- Tata Chemicals Ltd - India
- Latin American Coal - Colombia
- CIMB Investment Bank - Malaysia
- PowerSource Philippines DevCo
- Vijayanagar Sugar Pvt Ltd - India
- Borneo Indobara - Indonesia
- Uttam Galva Steels Limited - India
- Trasteel International SA, Italy
- Price Waterhouse Coopers - Russia
- GVK Power & Infra Limited - India
- Miang Besar Coal Terminal - Indonesia
- Metalloyd Limited - United Kingdom
- Edison Trading Spa - Italy
- Energy Development Corp, Philippines
- Oldendorff Carriers - Singapore
- Indian Energy Exchange, India
- PetroVietnam Power Coal Import and Supply Company
- Anglo American - United Kingdom
- Eastern Energy - Thailand
- Neyveli Lignite Corporation Ltd, - India
- Rio Tinto Coal - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Coal and Oil Company - UAE
- Directorate General of MIneral and Coal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Leighton Contractors Pty Ltd - Australia
- CNBM International Corporation - China
- Petrochimia International Co. Ltd.- Taiwan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- International Coal Ventures Pvt Ltd - India
- SMG Consultants - Indonesia
- Banpu Public Company Limited - Thailand
- Gujarat Electricity Regulatory Commission - India
- Vedanta Resources Plc - India
- Star Paper Mills Limited - India
- Essar Steel Hazira Ltd - India
- Vizag Seaport Private Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Jindal Steel & Power Ltd - India
- Sarangani Energy Corporation, Philippines
- Australian Commodity Traders Exchange
- Independent Power Producers Association of India
- Minerals Council of Australia
- Mintek Dendrill Indonesia
- Bangladesh Power Developement Board
- Maharashtra Electricity Regulatory Commission - India
- OPG Power Generation Pvt Ltd - India
- Sical Logistics Limited - India
- Kapuas Tunggal Persada - Indonesia
- Chamber of Mines of South Africa
- Economic Council, Georgia
- Malabar Cements Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Commonwealth Bank - Australia
- Thai Mozambique Logistica
- Videocon Industries ltd - India
- Siam City Cement PLC, Thailand
- Indonesian Coal Mining Association
- The University of Queensland
- MS Steel International - UAE
- Georgia Ports Authority, United States
- Wilmar Investment Holdings
- Eastern Coal Council - USA
- Standard Chartered Bank - UAE
- Indian Oil Corporation Limited
- Posco Energy - South Korea
- Alfred C Toepfer International GmbH - Germany
- Ministry of Finance - Indonesia
- Bharathi Cement Corporation - India
- Siam City Cement - Thailand
- Carbofer General Trading SA - India
- Bukit Baiduri Energy - Indonesia
- Parliament of New Zealand
- Interocean Group of Companies - India
- Global Coal Blending Company Limited - Australia
- Manunggal Multi Energi - Indonesia
- Sindya Power Generating Company Private Ltd
- Holcim Trading Pte Ltd - Singapore
- Timah Investasi Mineral - Indoneisa
- The State Trading Corporation of India Ltd
- Marubeni Corporation - India
- Formosa Plastics Group - Taiwan
- ASAPP Information Group - India
- Planning Commission, India
- Kideco Jaya Agung - Indonesia
- SMC Global Power, Philippines
- Kobexindo Tractors - Indoneisa
- Sree Jayajothi Cements Limited - India
- Tamil Nadu electricity Board
- Iligan Light & Power Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Salva Resources Pvt Ltd - India
- Bhatia International Limited - India
- Ambuja Cements Ltd - India
- Kaltim Prima Coal - Indonesia
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