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