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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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Friday, 23 February 24
STRONG OUTLOOK FOR THE TANKER MARKET IN 2024 AND BEYOND - DNV
Several factors have aligned over the past two years to create a robust and profitable market for tanker owners, which is expected to drive newbuil ...
Friday, 23 February 24
AUSTRALIAN COAL FLOWS TO ASIA HOVER ABOVE LAST YEAR’S VOLUME TONNES - SIGNAL GROUP
In the final days of February, the dry bulk freight market appeared to maintain a relatively stable momentum, particularly evident in the large ves ...
Friday, 23 February 24
RUSSIAN COAL SHIPMENTS FALL 14% AS SANCTIONS BITE - BIMCO
During the first seven weeks of 2024, Russian coal shipments have fallen 14% y/y. Volumes have gradually declined since October 2023 when logistica ...
Thursday, 22 February 24
BIMCO PUBLISHES SHIP FINANCING FORMS TO ENSURE UNINTERRUPTED USE OF SHIPS
BIMCO has published two standard Quiet Enjoyment Letters (QELs), the first standard form QELs available to the industry, to offer a tool that can e ...
Monday, 19 February 24
METALS INVESTMENT: THE DARKEST HOUR IS JUST BEFORE THE DAWN - WOOD MACKENZIE
Things often seem at their worst just before they get better. In terms of meeting our net zero 2050 scenario, we’ve reached a watershed momen ...
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- Gujarat Electricity Regulatory Commission - India
- Alfred C Toepfer International GmbH - Germany
- Orica Mining Services - Indonesia
- Cement Manufacturers Association - India
- Chamber of Mines of South Africa
- Bhushan Steel Limited - India
- Kartika Selabumi Mining - Indonesia
- Tamil Nadu electricity Board
- Kaltim Prima Coal - Indonesia
- Altura Mining Limited, Indonesia
- Mercator Lines Limited - India
- Orica Australia Pty. Ltd.
- Eastern Coal Council - USA
- Mercuria Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Energy Development Corp, Philippines
- SMG Consultants - Indonesia
- Meenaskhi Energy Private Limited - India
- Banpu Public Company Limited - Thailand
- Merrill Lynch Commodities Europe
- Intertek Mineral Services - Indonesia
- Central Electricity Authority - India
- Jindal Steel & Power Ltd - India
- PowerSource Philippines DevCo
- Kideco Jaya Agung - Indonesia
- Bukit Baiduri Energy - Indonesia
- Singapore Mercantile Exchange
- Barasentosa Lestari - Indonesia
- Georgia Ports Authority, United States
- Sree Jayajothi Cements Limited - India
- VISA Power Limited - India
- Tata Chemicals Ltd - India
- IEA Clean Coal Centre - UK
- Minerals Council of Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- International Coal Ventures Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Xindia Steels Limited - India
- SMC Global Power, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Heidelberg Cement - Germany
- Sojitz Corporation - Japan
- Salva Resources Pvt Ltd - India
- Sakthi Sugars Limited - India
- Electricity Generating Authority of Thailand
- Sindya Power Generating Company Private Ltd
- GVK Power & Infra Limited - India
- Sinarmas Energy and Mining - Indonesia
- Toyota Tsusho Corporation, Japan
- Africa Commodities Group - South Africa
- Bukit Makmur.PT - Indonesia
- Samtan Co., Ltd - South Korea
- Global Business Power Corporation, Philippines
- Coal and Oil Company - UAE
- Kalimantan Lumbung Energi - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Larsen & Toubro Limited - India
- Meralco Power Generation, Philippines
- Savvy Resources Ltd - HongKong
- Makarim & Taira - Indonesia
- Semirara Mining Corp, Philippines
- Independent Power Producers Association of India
- Renaissance Capital - South Africa
- Coastal Gujarat Power Limited - India
- Straits Asia Resources Limited - Singapore
- Binh Thuan Hamico - Vietnam
- Edison Trading Spa - Italy
- Karaikal Port Pvt Ltd - India
- Latin American Coal - Colombia
- Cigading International Bulk Terminal - Indonesia
- TeaM Sual Corporation - Philippines
- Grasim Industreis Ltd - India
- Baramulti Group, Indonesia
- OPG Power Generation Pvt Ltd - India
- Marubeni Corporation - India
- Medco Energi Mining Internasional
- Ceylon Electricity Board - Sri Lanka
- Thiess Contractors Indonesia
- GAC Shipping (India) Pvt Ltd
- Dalmia Cement Bharat India
- Carbofer General Trading SA - India
- Ministry of Transport, Egypt
- Gujarat Sidhee Cement - India
- Australian Commodity Traders Exchange
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Sarangani Energy Corporation, Philippines
- Port Waratah Coal Services - Australia
- Simpson Spence & Young - Indonesia
- Aboitiz Power Corporation - Philippines
- Billiton Holdings Pty Ltd - Australia
- Price Waterhouse Coopers - Russia
- Thai Mozambique Logistica
- Goldman Sachs - Singapore
- CIMB Investment Bank - Malaysia
- Miang Besar Coal Terminal - Indonesia
- Indian Oil Corporation Limited
- McConnell Dowell - Australia
- Jorong Barutama Greston.PT - Indonesia
- Kumho Petrochemical, South Korea
- Bayan Resources Tbk. - Indonesia
- Pendopo Energi Batubara - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Aditya Birla Group - India
- Ambuja Cements Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Directorate General of MIneral and Coal - Indonesia
- Eastern Energy - Thailand
- Gujarat Mineral Development Corp Ltd - India
- London Commodity Brokers - England
- Australian Coal Association
- Parliament of New Zealand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Central Java Power - Indonesia
- Interocean Group of Companies - India
- Ind-Barath Power Infra Limited - India
- Jaiprakash Power Ventures ltd
- PNOC Exploration Corporation - Philippines
- CNBM International Corporation - China
- Bulk Trading Sa - Switzerland
- Mjunction Services Limited - India
- Coalindo Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Semirara Mining and Power Corporation, Philippines
- Star Paper Mills Limited - India
- Bangladesh Power Developement Board
- Petron Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- European Bulk Services B.V. - Netherlands
- Borneo Indobara - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Ministry of Mines - Canada
- Oldendorff Carriers - Singapore
- Globalindo Alam Lestari - Indonesia
- Malabar Cements Ltd - India
- Deloitte Consulting - India
- Economic Council, Georgia
- India Bulls Power Limited - India
- Indo Tambangraya Megah - Indonesia
- Bharathi Cement Corporation - India
- Siam City Cement - Thailand
- Neyveli Lignite Corporation Ltd, - India
- Maheswari Brothers Coal Limited - India
- Indika Energy - Indonesia
- Indonesian Coal Mining Association
- ASAPP Information Group - India
- Parry Sugars Refinery, India
- Sical Logistics Limited - India
- Madhucon Powers Ltd - India
- Trasteel International SA, Italy
- GN Power Mariveles Coal Plant, Philippines
- The Treasury - Australian Government
- IHS Mccloskey Coal Group - USA
- Manunggal Multi Energi - Indonesia
- ICICI Bank Limited - India
- The State Trading Corporation of India Ltd
- The University of Queensland
- Kobexindo Tractors - Indoneisa
- South Luzon Thermal Energy Corporation
- Wood Mackenzie - Singapore
- Global Coal Blending Company Limited - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Holcim Trading Pte Ltd - Singapore
- Antam Resourcindo - Indonesia
- SN Aboitiz Power Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- GMR Energy Limited - India
- Bhatia International Limited - India
- Kepco SPC Power Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Rashtriya Ispat Nigam Limited - India
- Formosa Plastics Group - Taiwan
- Karbindo Abesyapradhi - Indoneisa
- Anglo American - United Kingdom
- Timah Investasi Mineral - Indoneisa
- Essar Steel Hazira Ltd - India
- Uttam Galva Steels Limited - India
- Indogreen Group - Indonesia
- Indian Energy Exchange, India
- White Energy Company Limited
- AsiaOL BioFuels Corp., Philippines
- Agrawal Coal Company - India
- Directorate Of Revenue Intelligence - India
- Energy Link Ltd, New Zealand
- Attock Cement Pakistan Limited
- Standard Chartered Bank - UAE
- Bhoruka Overseas - Indonesia
- Romanian Commodities Exchange
- Electricity Authority, New Zealand
- Lanco Infratech Ltd - India
- Vedanta Resources Plc - India
- Krishnapatnam Port Company Ltd. - India
- PTC India Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Wilmar Investment Holdings
- New Zealand Coal & Carbon
- Metalloyd Limited - United Kingdom
- Ministry of Finance - Indonesia
- MS Steel International - UAE
- Vizag Seaport Private Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Posco Energy - South Korea
- Leighton Contractors Pty Ltd - Australia
- Commonwealth Bank - Australia
- Videocon Industries ltd - India
- Rio Tinto Coal - Australia
- Siam City Cement PLC, Thailand
- Mintek Dendrill Indonesia
- Planning Commission, India
- Riau Bara Harum - Indonesia
- Therma Luzon, Inc, Philippines
- San Jose City I Power Corp, Philippines
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