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