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