🚨 🚨 IHSG: Market rumor is circulating that Indonesia is reportedly preparing to announce the creation of a new state-linked export body that would centralize exports for selected commodities including coal, CPO and minerals.
Under the proposed structure, exporters may be required to sell their products to the new entity, which would then handle exports directly, raising market concerns over potential pricing control.
I found a place where I'm not alone♫
수록곡: STRANGER THAN HEAVEN
Snoop Dogg, 후지와라 사토시, Ado, Tori Kelly
올겨울 출시 예정. 위시리스트 등록 가능.
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WTS Hot wheels
1. Supra hitam Fast 5: 240k nego
2. Mclaren F1 GTR Neon Speeder: 120k nego
Boleh beli satuan, boleh take all
Prefer COD Jakarta (Jaktim/Jaksel/Jakpus)
Minat DM
#zonauang#hotwheels#bu
WTS Hot wheels
1. Supra hitam Fast 5: 240k nego
2. Mclaren F1 GTR Neon Speeder: 120k nego
Boleh beli satuan, boleh take all
Prefer COD Jakarta (Jaktim/Jaksel/Jakpus)
Minat DM
#zonauang#hotwheels#bu
Call me crazy, but #ForeverYoung should run the Irish Champion Stakes –> Prix de l’Arc de Triomphe route. A Breeders’ Cup Classic defense would be so cool to watch, but I’m a believer in a fairy tale runs.
Plus, that leaves the Japan Cup option open too…
CM Punk is pro wrestling’s Kanye West/Ye, most of the time he’s Corpo Phil but when enough’s enough he decided to wake up and become the Voice of the Voiceless
I fucking love CM Punk
They're right for Japan, Korea, and Singapore. Those guys source 75% of refined products from the Persian Gulf. Hormuz closes, they bleed.
But Indonesia is a different story entirely.
Yes, Indonesia imports refined products. Pertamina's refining capacity doesn't fully cover domestic demand, so Pertalite and Solar get bridged through imports. The Hormuz shock hits that. Real exposure.
What makes Indonesia different is this.
Indonesia's actual risk from this isn't supply. It's fiscal. If oil prices spike because Hormuz stays closed, the government's subsidy bill for Pertalite and Solar expands. Wider deficit, rupiah pressure. That's the bear case for Indonesia, and even that's manageable.
The bull case is what nobody is talking about.
Indonesia runs B40 right now. 40% of every liter of diesel consumed domestically is palm oil biodiesel, not petroleum. When oil spikes, the incentive to push toward B50 or B55 gets stronger overnight. Import volume drops. Indonesia self-hedges using its own CPO supply. No other country in Asia has this. Not Korea, not Japan, not Singapore.
Then there's coal.
When Hormuz disrupts LNG and oil flows into Asia, the fastest lever available to power generators in Japan, Korea, and India is gas to coal switching. Indonesia is the world's largest seaborne thermal coal exporter. ADARO, ITMG, PTBA, BUMI don't suffer from this scenario. Export volumes go up. Realized prices go up. Royalty revenue to the government goes up.
Same logic on LNG. Indonesia exports from Bontang and Tangguh. When Middle Eastern supply gets disrupted, the spot premium on non Gulf LNG widens. Indonesian cargoes price up.
Same logic on CPO. High oil equals strong biodiesel demand globally equals strong CPO prices. Indonesia and Malaysia control 85% of global supply.
You see, Indonesia pays more for refined product imports. Fiscal subsidy pressure rises. Rupiah is a watch item. Those are real negatives.
But Indonesia earns more on coal exports, earns more on LNG spot, earns more on CPO, and reduces net petroleum import volume through accelerated biodiesel blending. The terms of trade move in Indonesia's favor, not against it.
The conventional take is "Indonesia is a net oil importer so oil shock is bad." The correct take is Indonesia is a net energy exporter in the commodities that directly substitute for disrupted Persian Gulf supply. A sustained Hormuz closure improves Indonesia's aggregate energy trade position, not deteriorates it.
Happy Sunday and Happy Easter.
Ayatollah Pat McAfee has returned and stunk the entire Rhodes vs Orton build like COME ON WAS IT NOT HARD TO JUST HAVE TWO WRESTLERS WITH HISTORY GOIN AGAINST EACH OTHER?