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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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Tuesday, 19 July 11
82 MIO TONS OF COAL TO BE SUPPLIED FOR DOMESTIC MARKET
Indonesian Coal miners were required to supply 82 million tons of coal to Domestic market in this year. This is a 2.53 percent higher than last year ...
Monday, 18 July 11
IMFA BUYS A INDONESIAN COAL MINE FOR USD 8.7 M
Indian Metals and Ferro Alloys (IMFA), the largest producer of ferro chrome in the country, today said it has acquired 70 per cent stake in an Indones ...
Sunday, 17 July 11
THE COAL PRICES ARE SOFTENING DUE TO LESS DEMAND - VISTAAR
COALspot.com: The markets were down last week with BDI down by 6.63 points and closing at 1,353 points. The most affected was Cape index which was d ...
Friday, 15 July 11
DRY BULK MARKET SUFFERS NEW BLOW, RETREATS EVEN FURTHER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market fell even lower yesterday on the back of lower demand for larger vessels, like Capesizes and Panamaxes. The industry’s ben ...
Friday, 15 July 11
BUKIT ASAM 1H COAL SALES UP 44 PERCENT
The state-controlled PT Tambang Batubara Bukit Asam Tbk (PTBA) is estimated to post 6.5 million tons of coal sales in the first half of this year, a ...
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- Parliament of New Zealand
- Sojitz Corporation - Japan
- Timah Investasi Mineral - Indoneisa
- Toyota Tsusho Corporation, Japan
- Maharashtra Electricity Regulatory Commission - India
- Global Green Power PLC Corporation, Philippines
- McConnell Dowell - Australia
- Commonwealth Bank - Australia
- Mintek Dendrill Indonesia
- Barasentosa Lestari - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Maheswari Brothers Coal Limited - India
- Ambuja Cements Ltd - India
- PNOC Exploration Corporation - Philippines
- VISA Power Limited - India
- SN Aboitiz Power Inc, Philippines
- Kumho Petrochemical, South Korea
- Therma Luzon, Inc, Philippines
- Medco Energi Mining Internasional
- Gujarat Mineral Development Corp Ltd - India
- Petron Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Planning Commission, India
- Rashtriya Ispat Nigam Limited - India
- Semirara Mining and Power Corporation, Philippines
- Makarim & Taira - Indonesia
- Orica Mining Services - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Minerals Council of Australia
- Georgia Ports Authority, United States
- Indian Energy Exchange, India
- ICICI Bank Limited - India
- Parry Sugars Refinery, India
- Economic Council, Georgia
- Madhucon Powers Ltd - India
- Independent Power Producers Association of India
- Sinarmas Energy and Mining - Indonesia
- Rio Tinto Coal - Australia
- The State Trading Corporation of India Ltd
- Attock Cement Pakistan Limited
- Bharathi Cement Corporation - India
- International Coal Ventures Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Agrawal Coal Company - India
- ASAPP Information Group - India
- Vedanta Resources Plc - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Cigading International Bulk Terminal - Indonesia
- Ministry of Mines - Canada
- Salva Resources Pvt Ltd - India
- Coal and Oil Company - UAE
- Indonesian Coal Mining Association
- Aditya Birla Group - India
- Miang Besar Coal Terminal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Star Paper Mills Limited - India
- Heidelberg Cement - Germany
- Chettinad Cement Corporation Ltd - India
- New Zealand Coal & Carbon
- Bangladesh Power Developement Board
- Vizag Seaport Private Limited - India
- Global Business Power Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Formosa Plastics Group - Taiwan
- Merrill Lynch Commodities Europe
- White Energy Company Limited
- Grasim Industreis Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Kohat Cement Company Ltd. - Pakistan
- Videocon Industries ltd - India
- Savvy Resources Ltd - HongKong
- IHS Mccloskey Coal Group - USA
- Singapore Mercantile Exchange
- Essar Steel Hazira Ltd - India
- Tamil Nadu electricity Board
- Romanian Commodities Exchange
- Ind-Barath Power Infra Limited - India
- Deloitte Consulting - India
- Billiton Holdings Pty Ltd - Australia
- GAC Shipping (India) Pvt Ltd
- Indika Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- Mjunction Services Limited - India
- San Jose City I Power Corp, Philippines
- Meralco Power Generation, Philippines
- Dalmia Cement Bharat India
- CIMB Investment Bank - Malaysia
- Banpu Public Company Limited - Thailand
- Wood Mackenzie - Singapore
- SMC Global Power, Philippines
- Mercuria Energy - Indonesia
- IEA Clean Coal Centre - UK
- Ministry of Transport, Egypt
- Globalindo Alam Lestari - Indonesia
- Kartika Selabumi Mining - Indonesia
- Borneo Indobara - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- CNBM International Corporation - China
- The Treasury - Australian Government
- GN Power Mariveles Coal Plant, Philippines
- Karaikal Port Pvt Ltd - India
- Marubeni Corporation - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Lanco Infratech Ltd - India
- Tata Chemicals Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Gujarat Sidhee Cement - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bhatia International Limited - India
- Aboitiz Power Corporation - Philippines
- Orica Australia Pty. Ltd.
- Kapuas Tunggal Persada - Indonesia
- Thiess Contractors Indonesia
- Samtan Co., Ltd - South Korea
- Bukit Asam (Persero) Tbk - Indonesia
- Eastern Coal Council - USA
- Jindal Steel & Power Ltd - India
- Semirara Mining Corp, Philippines
- Malabar Cements Ltd - India
- Metalloyd Limited - United Kingdom
- Jaiprakash Power Ventures ltd
- Krishnapatnam Port Company Ltd. - India
- Edison Trading Spa - Italy
- Alfred C Toepfer International GmbH - Germany
- Xindia Steels Limited - India
- Thai Mozambique Logistica
- Iligan Light & Power Inc, Philippines
- PowerSource Philippines DevCo
- Central Java Power - Indonesia
- Trasteel International SA, Italy
- Power Finance Corporation Ltd., India
- Eastern Energy - Thailand
- Bukit Makmur.PT - Indonesia
- LBH Netherlands Bv - Netherlands
- Global Coal Blending Company Limited - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sakthi Sugars Limited - India
- Kepco SPC Power Corporation, Philippines
- Antam Resourcindo - Indonesia
- Australian Commodity Traders Exchange
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kalimantan Lumbung Energi - Indonesia
- Pendopo Energi Batubara - Indonesia
- Indogreen Group - Indonesia
- Renaissance Capital - South Africa
- Bahari Cakrawala Sebuku - Indonesia
- Sarangani Energy Corporation, Philippines
- Coalindo Energy - Indonesia
- Cement Manufacturers Association - India
- Baramulti Group, Indonesia
- Posco Energy - South Korea
- Coastal Gujarat Power Limited - India
- MS Steel International - UAE
- Kaltim Prima Coal - Indonesia
- Oldendorff Carriers - Singapore
- European Bulk Services B.V. - Netherlands
- Carbofer General Trading SA - India
- Meenaskhi Energy Private Limited - India
- SMG Consultants - Indonesia
- Holcim Trading Pte Ltd - Singapore
- PTC India Limited - India
- Straits Asia Resources Limited - Singapore
- Anglo American - United Kingdom
- Intertek Mineral Services - Indonesia
- The University of Queensland
- Karbindo Abesyapradhi - Indoneisa
- Sical Logistics Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Leighton Contractors Pty Ltd - Australia
- India Bulls Power Limited - India
- Binh Thuan Hamico - Vietnam
- GMR Energy Limited - India
- Port Waratah Coal Services - Australia
- Energy Development Corp, Philippines
- Altura Mining Limited, Indonesia
- Larsen & Toubro Limited - India
- Indian Oil Corporation Limited
- Sindya Power Generating Company Private Ltd
- TeaM Sual Corporation - Philippines
- Energy Link Ltd, New Zealand
- Pipit Mutiara Jaya. PT, Indonesia
- Price Waterhouse Coopers - Russia
- Directorate Of Revenue Intelligence - India
- Ministry of Finance - Indonesia
- Riau Bara Harum - Indonesia
- Standard Chartered Bank - UAE
- Goldman Sachs - Singapore
- Wilmar Investment Holdings
- Indo Tambangraya Megah - Indonesia
- Chamber of Mines of South Africa
- Neyveli Lignite Corporation Ltd, - India
- Siam City Cement - Thailand
- Bhoruka Overseas - Indonesia
- Australian Coal Association
- Bhushan Steel Limited - India
- South Luzon Thermal Energy Corporation
- Directorate General of MIneral and Coal - Indonesia
- Uttam Galva Steels Limited - India
- Electricity Authority, New Zealand
- Electricity Generating Authority of Thailand
- OPG Power Generation Pvt Ltd - India
- Latin American Coal - Colombia
- Bulk Trading Sa - Switzerland
- Siam City Cement PLC, Thailand
- Kobexindo Tractors - Indoneisa
- London Commodity Brokers - England
- Mercator Lines Limited - India
- Manunggal Multi Energi - Indonesia
- Interocean Group of Companies - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sree Jayajothi Cements Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Central Electricity Authority - India
- Africa Commodities Group - South Africa
- GVK Power & Infra Limited - India
- Bayan Resources Tbk. - Indonesia
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