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Wednesday, 18 April 18
SHIPPING MARKET INSIGHT - STELIOS KOLLINTZAS
 The return of traders and charterers from the Easter festivities came along with a slight increase in activity across the edible oil markets. However, in most cases tonnage supply has been more than enough to meet demand and rates have been moving sideways as a result.
At the same time the CPP markets are not supporting the situation at all, while a trade war between China and USA is having its own effect in certain routes. Additionally, changes on import/export taxes in the regional palm oil market are also shaping the cargo flow.
As things stand, fundamentals in the veg oil market ex- South America are in charterers favour. CPP freights in the West have been in the doldrums and this is having an effect on veg oil freights as well, as several CPP owners try to find leverage on alternative markets. In addition, an increased import of CPP into Argentina/Brazil is building a long tonnage list in the South Atlantic. As if there were not enough negative factors in the market, the threat of China imposing import taxes on US agricultural products, including soy beans, is causing additional headache to traders.
The tax, which is considered a countermeasure on taxes already imposed by US on several products imported from China, is making traders cautious. This is to say that while soybean price from US has depreciated, the premium gained on the back of it by the soybean price from Argentina and Brazil, has in many cases made the product too expensive for the local crushers to buy. For the record, freight rates are still moving sideways at last done levels, USD mid-30s pmt bss 2/2 (South America/ India) on min 40,000mt.
Freight rates from the Black Sea are currently under pressure. While there is a steady flow of cargoes, the poor CPP market is pushing more Handy and MR tankers to look at loading sunflower oil from the Black Sea, however, shipments for the latter size are becoming scarcer lately. The 30-35,000mtons parcels to India are currently paying about USD high-30s/low-40s, while 35-40,000mtons parcels to China are paying about USD mid-40s, depending on port combination.
The long-haul palm oil market has generated some decent rates during the past month. However, given that the tonnage list for May is longer, unless there is an increase in activity, the positive trend is unlikely to continue. The rates for FOSFA MR ships on a TC Trip Far East/Europe are currently between 15,500-16,500 USD/pd.
Looking into the regional market, it is evident that the increased tax by 14% on India’s palm oil imports has had a significant impact on the country’s buying interest. On the contrary, Malaysia’s decision to suspend export taxes on CPO until the end of April has been partly offsetting the lack of activity in the region. Moreover China’s recently imposed 25% tariff on US soybean imports could generate a growth in demand for regional palm oil, as CPO can be used as an alternative in certain circumstances.
By Stelios Kollintzas
Specialized Products
Compiled by:
Intermodal Research & Valuations
Analysts:
Ms Eva Tzima
Disclaimer and legal disclosure: For any further queries please do not hesitate to contact our Research & Valuations Department. The information contained in this report has been obtained from various sources, as reported in the market. Intermodal Shipbrokers Co. believes such information to be factual and reliable without making guarantees regarding its accuracy or completeness. Whilst every care has been taken in the production of the above review, no liability can be accepted for any loss or damage incurred in any way whatsoever by any person who may seek to rely on the information and views contained in this material. This report is being produced for the internal use of the intended recipients only and no reproducing is allowed, without the prior written authorization of Intermodal Shipbrokers Co.
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Friday, 05 August 11
THE WORLDS LARGEST COAL MINER TO INVEST IN INDO MINES
COALspot.com - Golden Energy Mines (GEMS) might go for initial public offering (IPO) by the end of September 2011. The company is planning to off lo ...
Friday, 05 August 11
DRY BULK MARKET FINALLY TAKES A BREATHER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market at last caught a break mid-week after a constant fall which saw the industry’s benchmark, the BDI (Baltic Dry Index) falli ...
Thursday, 04 August 11
THE HBA CONTINUES TO FALL IN AUGUST
COALspot.com - Ministry of Energy and Mineral Resources of Indonesia has set the August 2011 coal reference price at US$ 117.21 per ton slightly low ...
Wednesday, 03 August 11
DEWA RETURNS TO US$2.65 MIO NET PROFIT - INSIDER STORIES
Coal mining contractor PT Darma Henwa Tbk (DEWA), that most of its revenue is contributed by Kaltim Prima Coal and Arutmin Indonesia, returned to ne ...
Wednesday, 03 August 11
DRY BULK MARKET SINKS TO THREE-MONTH LOWS, BUT CAPESIZES COULD TURN THINGS AROUND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market kept on falling this week, on the back of slow cargo demand amid the summer season. Yesterday, the BDI (Baltic Dry Index), the i ...
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- Parliament of New Zealand
- Madhucon Powers Ltd - India
- Minerals Council of Australia
- CIMB Investment Bank - Malaysia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Coalindo Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Alfred C Toepfer International GmbH - Germany
- Riau Bara Harum - Indonesia
- Videocon Industries ltd - India
- Malabar Cements Ltd - India
- Planning Commission, India
- Xindia Steels Limited - India
- Maheswari Brothers Coal Limited - India
- Banpu Public Company Limited - Thailand
- Semirara Mining and Power Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Heidelberg Cement - Germany
- Miang Besar Coal Terminal - Indonesia
- Bukit Makmur.PT - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Eastern Energy - Thailand
- Sakthi Sugars Limited - India
- Sical Logistics Limited - India
- PowerSource Philippines DevCo
- Siam City Cement - Thailand
- Eastern Coal Council - USA
- Rio Tinto Coal - Australia
- Wood Mackenzie - Singapore
- Interocean Group of Companies - India
- LBH Netherlands Bv - Netherlands
- GVK Power & Infra Limited - India
- Indonesian Coal Mining Association
- Bulk Trading Sa - Switzerland
- ASAPP Information Group - India
- Thai Mozambique Logistica
- Mintek Dendrill Indonesia
- Edison Trading Spa - Italy
- Leighton Contractors Pty Ltd - Australia
- Larsen & Toubro Limited - India
- GAC Shipping (India) Pvt Ltd
- Vedanta Resources Plc - India
- Simpson Spence & Young - Indonesia
- Altura Mining Limited, Indonesia
- Coastal Gujarat Power Limited - India
- Borneo Indobara - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Thiess Contractors Indonesia
- Ministry of Mines - Canada
- The State Trading Corporation of India Ltd
- Ind-Barath Power Infra Limited - India
- Meenaskhi Energy Private Limited - India
- Asmin Koalindo Tuhup - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Directorate Of Revenue Intelligence - India
- Global Business Power Corporation, Philippines
- Vizag Seaport Private Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Samtan Co., Ltd - South Korea
- Tamil Nadu electricity Board
- ICICI Bank Limited - India
- Meralco Power Generation, Philippines
- Kapuas Tunggal Persada - Indonesia
- European Bulk Services B.V. - Netherlands
- San Jose City I Power Corp, Philippines
- Australian Commodity Traders Exchange
- Orica Australia Pty. Ltd.
- Indian Oil Corporation Limited
- Sree Jayajothi Cements Limited - India
- Grasim Industreis Ltd - India
- Indogreen Group - Indonesia
- Kartika Selabumi Mining - Indonesia
- Kobexindo Tractors - Indoneisa
- Independent Power Producers Association of India
- Dalmia Cement Bharat India
- Ceylon Electricity Board - Sri Lanka
- Offshore Bulk Terminal Pte Ltd, Singapore
- Latin American Coal - Colombia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Commonwealth Bank - Australia
- Sarangani Energy Corporation, Philippines
- Siam City Cement PLC, Thailand
- Electricity Authority, New Zealand
- Maharashtra Electricity Regulatory Commission - India
- Indika Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Chamber of Mines of South Africa
- Essar Steel Hazira Ltd - India
- GMR Energy Limited - India
- Petron Corporation, Philippines
- Tata Chemicals Ltd - India
- New Zealand Coal & Carbon
- Timah Investasi Mineral - Indoneisa
- Mercator Lines Limited - India
- Aboitiz Power Corporation - Philippines
- Bangladesh Power Developement Board
- OPG Power Generation Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Parry Sugars Refinery, India
- South Luzon Thermal Energy Corporation
- Chettinad Cement Corporation Ltd - India
- Port Waratah Coal Services - Australia
- Manunggal Multi Energi - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Cigading International Bulk Terminal - Indonesia
- Medco Energi Mining Internasional
- London Commodity Brokers - England
- Central Electricity Authority - India
- Standard Chartered Bank - UAE
- Trasteel International SA, Italy
- Vijayanagar Sugar Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Sindya Power Generating Company Private Ltd
- Straits Asia Resources Limited - Singapore
- The Treasury - Australian Government
- Bayan Resources Tbk. - Indonesia
- Ministry of Transport, Egypt
- Singapore Mercantile Exchange
- Georgia Ports Authority, United States
- PTC India Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Toyota Tsusho Corporation, Japan
- Energy Development Corp, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- IEA Clean Coal Centre - UK
- Attock Cement Pakistan Limited
- Power Finance Corporation Ltd., India
- Bhushan Steel Limited - India
- Kaltim Prima Coal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- SMC Global Power, Philippines
- White Energy Company Limited
- Uttam Galva Steels Limited - India
- Makarim & Taira - Indonesia
- Electricity Generating Authority of Thailand
- Antam Resourcindo - Indonesia
- Bhatia International Limited - India
- TeaM Sual Corporation - Philippines
- Oldendorff Carriers - Singapore
- Economic Council, Georgia
- Savvy Resources Ltd - HongKong
- Central Java Power - Indonesia
- Carbofer General Trading SA - India
- Mjunction Services Limited - India
- Karaikal Port Pvt Ltd - India
- Posco Energy - South Korea
- VISA Power Limited - India
- Romanian Commodities Exchange
- Renaissance Capital - South Africa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Deloitte Consulting - India
- Neyveli Lignite Corporation Ltd, - India
- SMG Consultants - Indonesia
- Bukit Baiduri Energy - Indonesia
- McConnell Dowell - Australia
- Bhoruka Overseas - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Iligan Light & Power Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Sinarmas Energy and Mining - Indonesia
- Australian Coal Association
- Bukit Asam (Persero) Tbk - Indonesia
- Price Waterhouse Coopers - Russia
- India Bulls Power Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- IHS Mccloskey Coal Group - USA
- Star Paper Mills Limited - India
- The University of Queensland
- Cement Manufacturers Association - India
- Orica Mining Services - Indonesia
- Salva Resources Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- GN Power Mariveles Coal Plant, Philippines
- Anglo American - United Kingdom
- Petrochimia International Co. Ltd.- Taiwan
- Binh Thuan Hamico - Vietnam
- Mercuria Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Aditya Birla Group - India
- Bharathi Cement Corporation - India
- Pipit Mutiara Jaya. PT, Indonesia
- Kideco Jaya Agung - Indonesia
- Indian Energy Exchange, India
- Therma Luzon, Inc, Philippines
- MS Steel International - UAE
- Globalindo Alam Lestari - Indonesia
- Africa Commodities Group - South Africa
- Kepco SPC Power Corporation, Philippines
- Ambuja Cements Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Coal and Oil Company - UAE
- Pendopo Energi Batubara - Indonesia
- Wilmar Investment Holdings
- Agrawal Coal Company - India
- Jaiprakash Power Ventures ltd
- Sojitz Corporation - Japan
- Marubeni Corporation - India
- Goldman Sachs - Singapore
- Lanco Infratech Ltd - India
- CNBM International Corporation - China
- SN Aboitiz Power Inc, Philippines
- Merrill Lynch Commodities Europe
- Gujarat Electricity Regulatory Commission - India
- Metalloyd Limited - United Kingdom
- Holcim Trading Pte Ltd - Singapore
- Formosa Plastics Group - Taiwan
- Jindal Steel & Power Ltd - India
- Barasentosa Lestari - Indonesia
- Semirara Mining Corp, Philippines
- Intertek Mineral Services - Indonesia
- Baramulti Group, Indonesia
- Ministry of Finance - Indonesia
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