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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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Thursday, 14 July 11
INDO GOVT. SETS JULY COAL REFERENCE PRICE AT US$ 118.24 PER TON
COALspot.com - The Ministry of Energy & Mineral Resources of Indonesia sets coal spot price benchmark for July 2011 at US$ 118.24 per ton, US$ 0 ...
Thursday, 14 July 11
DRY BULK MARKET KEEPS FALLING ON WEAK CAPESIZE SENTIMENT - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market kept on retreating on Wednesday, with the Baltic Dry Index (BDI) falling to 1,383 points, from 1,411 of the previous day. Capesi ...
Thursday, 14 July 11
UNITED TRACTORS BUYS DUTA SEJAHTERA - INSIDER STORIES
Insider Stories reported that, PT United Tractors Tbk (UNTR), via a wholly-owned subsidiary PT Tuah Turangga Agung, will acquire PT Duta Sejahtera a ...
Wednesday, 13 July 11
ANOTHER FIRMER WEEK FOR THE CAPES - BRS
Barry Rogliano Salles reported that, there were mixed results for the dry bulk market this week: the Capesize and Panamax markets performed well gai ...
Tuesday, 12 July 11
INDONESIAN MINERS PLAN $70M INVESTMENT TO UPGRADE QUALITY OF COAL - THE JAKARTA GLOBE
One of the leading english language news paper in indonesia, the Jakarta globe reported that, as the government implements a ban on the export of po ...
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- Alfred C Toepfer International GmbH - Germany
- Merrill Lynch Commodities Europe
- Bhatia International Limited - India
- Carbofer General Trading SA - India
- Renaissance Capital - South Africa
- Coal and Oil Company - UAE
- Xindia Steels Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Mercator Lines Limited - India
- Agrawal Coal Company - India
- Aditya Birla Group - India
- Ministry of Mines - Canada
- Parry Sugars Refinery, India
- Siam City Cement PLC, Thailand
- Semirara Mining Corp, Philippines
- Kumho Petrochemical, South Korea
- London Commodity Brokers - England
- Directorate Of Revenue Intelligence - India
- Essar Steel Hazira Ltd - India
- Sarangani Energy Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Independent Power Producers Association of India
- Chettinad Cement Corporation Ltd - India
- Bukit Makmur.PT - Indonesia
- Metalloyd Limited - United Kingdom
- Manunggal Multi Energi - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Rashtriya Ispat Nigam Limited - India
- Orica Australia Pty. Ltd.
- Sree Jayajothi Cements Limited - India
- GVK Power & Infra Limited - India
- GMR Energy Limited - India
- European Bulk Services B.V. - Netherlands
- Energy Link Ltd, New Zealand
- Karaikal Port Pvt Ltd - India
- Cement Manufacturers Association - India
- AsiaOL BioFuels Corp., Philippines
- Eastern Coal Council - USA
- Madhucon Powers Ltd - India
- Ind-Barath Power Infra Limited - India
- Gujarat Sidhee Cement - India
- Marubeni Corporation - India
- Malabar Cements Ltd - India
- Larsen & Toubro Limited - India
- Bukit Baiduri Energy - Indonesia
- Chamber of Mines of South Africa
- GN Power Mariveles Coal Plant, Philippines
- Goldman Sachs - Singapore
- Indian Oil Corporation Limited
- Mjunction Services Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- The State Trading Corporation of India Ltd
- Wood Mackenzie - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Straits Asia Resources Limited - Singapore
- Barasentosa Lestari - Indonesia
- Global Coal Blending Company Limited - Australia
- Indian Energy Exchange, India
- Singapore Mercantile Exchange
- Formosa Plastics Group - Taiwan
- Karbindo Abesyapradhi - Indoneisa
- TNB Fuel Sdn Bhd - Malaysia
- White Energy Company Limited
- International Coal Ventures Pvt Ltd - India
- ICICI Bank Limited - India
- Posco Energy - South Korea
- Sakthi Sugars Limited - India
- Krishnapatnam Port Company Ltd. - India
- Global Business Power Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Toyota Tsusho Corporation, Japan
- Tamil Nadu electricity Board
- Indonesian Coal Mining Association
- Australian Coal Association
- Thai Mozambique Logistica
- Economic Council, Georgia
- Dalmia Cement Bharat India
- Port Waratah Coal Services - Australia
- Siam City Cement - Thailand
- Price Waterhouse Coopers - Russia
- LBH Netherlands Bv - Netherlands
- Bharathi Cement Corporation - India
- Africa Commodities Group - South Africa
- ASAPP Information Group - India
- Eastern Energy - Thailand
- Cigading International Bulk Terminal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Minerals Council of Australia
- Leighton Contractors Pty Ltd - Australia
- Neyveli Lignite Corporation Ltd, - India
- Electricity Generating Authority of Thailand
- Anglo American - United Kingdom
- Bangladesh Power Developement Board
- Therma Luzon, Inc, Philippines
- Standard Chartered Bank - UAE
- San Jose City I Power Corp, Philippines
- Central Electricity Authority - India
- Georgia Ports Authority, United States
- SMC Global Power, Philippines
- Borneo Indobara - Indonesia
- Aboitiz Power Corporation - Philippines
- Samtan Co., Ltd - South Korea
- Jindal Steel & Power Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Australian Commodity Traders Exchange
- Holcim Trading Pte Ltd - Singapore
- Interocean Group of Companies - India
- Kepco SPC Power Corporation, Philippines
- Mintek Dendrill Indonesia
- Star Paper Mills Limited - India
- Banpu Public Company Limited - Thailand
- Bulk Trading Sa - Switzerland
- Kideco Jaya Agung - Indonesia
- Globalindo Alam Lestari - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Miang Besar Coal Terminal - Indonesia
- Oldendorff Carriers - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Kobexindo Tractors - Indoneisa
- Commonwealth Bank - Australia
- TeaM Sual Corporation - Philippines
- PetroVietnam Power Coal Import and Supply Company
- Makarim & Taira - Indonesia
- New Zealand Coal & Carbon
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sindya Power Generating Company Private Ltd
- Billiton Holdings Pty Ltd - Australia
- Attock Cement Pakistan Limited
- Edison Trading Spa - Italy
- McConnell Dowell - Australia
- Ceylon Electricity Board - Sri Lanka
- Parliament of New Zealand
- Kohat Cement Company Ltd. - Pakistan
- Sojitz Corporation - Japan
- Latin American Coal - Colombia
- Simpson Spence & Young - Indonesia
- Indika Energy - Indonesia
- Ministry of Transport, Egypt
- PowerSource Philippines DevCo
- Thiess Contractors Indonesia
- Rio Tinto Coal - Australia
- Vedanta Resources Plc - India
- Vizag Seaport Private Limited - India
- Meralco Power Generation, Philippines
- Jaiprakash Power Ventures ltd
- Energy Development Corp, Philippines
- Deloitte Consulting - India
- Trasteel International SA, Italy
- Altura Mining Limited, Indonesia
- Central Java Power - Indonesia
- Iligan Light & Power Inc, Philippines
- Riau Bara Harum - Indonesia
- South Luzon Thermal Energy Corporation
- Orica Mining Services - Indonesia
- Global Green Power PLC Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Antam Resourcindo - Indonesia
- GAC Shipping (India) Pvt Ltd
- Videocon Industries ltd - India
- India Bulls Power Limited - India
- Sical Logistics Limited - India
- Intertek Mineral Services - Indonesia
- IHS Mccloskey Coal Group - USA
- Gujarat Mineral Development Corp Ltd - India
- Electricity Authority, New Zealand
- Indo Tambangraya Megah - Indonesia
- VISA Power Limited - India
- Medco Energi Mining Internasional
- Ministry of Finance - Indonesia
- The University of Queensland
- Bhushan Steel Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mercuria Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Kaltim Prima Coal - Indonesia
- Coalindo Energy - Indonesia
- Romanian Commodities Exchange
- Pipit Mutiara Jaya. PT, Indonesia
- Heidelberg Cement - Germany
- Bayan Resources Tbk. - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- CNBM International Corporation - China
- Planning Commission, India
- SN Aboitiz Power Inc, Philippines
- PTC India Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Savvy Resources Ltd - HongKong
- Indogreen Group - Indonesia
- CIMB Investment Bank - Malaysia
- MS Steel International - UAE
- Salva Resources Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Coastal Gujarat Power Limited - India
- Uttam Galva Steels Limited - India
- Baramulti Group, Indonesia
- SMG Consultants - Indonesia
- Grasim Industreis Ltd - India
- Pendopo Energi Batubara - Indonesia
- Wilmar Investment Holdings
- Lanco Infratech Ltd - India
- Tata Chemicals Ltd - India
- The Treasury - Australian Government
- Maheswari Brothers Coal Limited - India
- Sinarmas Energy and Mining - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Maharashtra Electricity Regulatory Commission - India
- Meenaskhi Energy Private Limited - India
- Binh Thuan Hamico - Vietnam
- IEA Clean Coal Centre - UK
- Ambuja Cements Ltd - India
- Semirara Mining and Power Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Power Finance Corporation Ltd., India
- Petron Corporation, Philippines
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