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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, 09 June 11
INDIKA AIMS TO PRODUCE 31 MILLION TONS OF COAL IN 2011 - THE JAKARTA POST
The Jakarta Post, a leading English news paper in Indonesia reported that, PT Indika Energy Tbk, an integrated energy company, is targeting to incre ...
Wednesday, 08 June 11
BAYAN TO DISTRIBUTE RP. 80 ( APPROX. US$ 0.00939850) PER SHARE DIVIDEND
Coal miner PT Bayan Resources Tbk (BYAN), that is controlled by business Dato' Low Tuck Kwong, will distribute Rp80 a share dividend or Rp266.7 bil ...
Wednesday, 08 June 11
CBM PRODUCTION FROM AUSTRALIA, CHINA, INDIA, AND INDONESIA IS EXPECTED TO WITNESS A SIGNIFICANT INCREASE BY 2015
Press Release - According to Global Data (December 2010), CBM production in Australia, China, India, and Indonesia is expected to witness a signific ...
Sunday, 05 June 11
COAL IMPORTS BY CHINA IS LIKELY TO INCREASE - VISTAAR SINGAPORE
COALspot.com - The freight market softened this week except for the BDI and Cape index was up, but even in these sectors the momentum was compared t ...
Friday, 03 June 11
DRY BULK MARKETS RESURGENCE APPEARS TO BE LOSING SOME STEAM - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market’s seems to be losing some steam, despite reports of growing Chinese demand for commodities, especially coal, on the back o ...
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- Kohat Cement Company Ltd. - Pakistan
- Salva Resources Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Baramulti Group, Indonesia
- The Treasury - Australian Government
- Bank of Tokyo Mitsubishi UFJ Ltd
- Straits Asia Resources Limited - Singapore
- Star Paper Mills Limited - India
- Chamber of Mines of South Africa
- Economic Council, Georgia
- Antam Resourcindo - Indonesia
- Simpson Spence & Young - Indonesia
- Tamil Nadu electricity Board
- Indonesian Coal Mining Association
- Pendopo Energi Batubara - Indonesia
- Formosa Plastics Group - Taiwan
- Attock Cement Pakistan Limited
- Jindal Steel & Power Ltd - India
- ICICI Bank Limited - India
- Dalmia Cement Bharat India
- Semirara Mining and Power Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Globalindo Alam Lestari - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Agrawal Coal Company - India
- Aditya Birla Group - India
- PetroVietnam Power Coal Import and Supply Company
- Mercator Lines Limited - India
- Bulk Trading Sa - Switzerland
- GAC Shipping (India) Pvt Ltd
- Trasteel International SA, Italy
- Medco Energi Mining Internasional
- IHS Mccloskey Coal Group - USA
- Ind-Barath Power Infra Limited - India
- Videocon Industries ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Iligan Light & Power Inc, Philippines
- Metalloyd Limited - United Kingdom
- CIMB Investment Bank - Malaysia
- Makarim & Taira - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Intertek Mineral Services - Indonesia
- Mercuria Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Bhatia International Limited - India
- Mjunction Services Limited - India
- Kepco SPC Power Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- IEA Clean Coal Centre - UK
- Miang Besar Coal Terminal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Coastal Gujarat Power Limited - India
- Kartika Selabumi Mining - Indonesia
- Electricity Authority, New Zealand
- London Commodity Brokers - England
- Parry Sugars Refinery, India
- International Coal Ventures Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Meenaskhi Energy Private Limited - India
- Sakthi Sugars Limited - India
- Ministry of Transport, Egypt
- Oldendorff Carriers - Singapore
- Mintek Dendrill Indonesia
- Altura Mining Limited, Indonesia
- Thai Mozambique Logistica
- Bukit Asam (Persero) Tbk - Indonesia
- Grasim Industreis Ltd - India
- Vizag Seaport Private Limited - India
- Jaiprakash Power Ventures ltd
- OPG Power Generation Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Coal and Oil Company - UAE
- Uttam Galva Steels Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Commonwealth Bank - Australia
- Maharashtra Electricity Regulatory Commission - India
- India Bulls Power Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Binh Thuan Hamico - Vietnam
- Electricity Generating Authority of Thailand
- Kapuas Tunggal Persada - Indonesia
- Malabar Cements Ltd - India
- GVK Power & Infra Limited - India
- SMC Global Power, Philippines
- New Zealand Coal & Carbon
- Krishnapatnam Port Company Ltd. - India
- Thiess Contractors Indonesia
- Central Electricity Authority - India
- Indian Energy Exchange, India
- Goldman Sachs - Singapore
- LBH Netherlands Bv - Netherlands
- ASAPP Information Group - India
- Romanian Commodities Exchange
- Kaltim Prima Coal - Indonesia
- MS Steel International - UAE
- Rio Tinto Coal - Australia
- Sree Jayajothi Cements Limited - India
- White Energy Company Limited
- AsiaOL BioFuels Corp., Philippines
- CNBM International Corporation - China
- The State Trading Corporation of India Ltd
- Power Finance Corporation Ltd., India
- PowerSource Philippines DevCo
- Ministry of Finance - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Riau Bara Harum - Indonesia
- Savvy Resources Ltd - HongKong
- Sical Logistics Limited - India
- Bangladesh Power Developement Board
- Global Green Power PLC Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Sindya Power Generating Company Private Ltd
- Larsen & Toubro Limited - India
- San Jose City I Power Corp, Philippines
- Bhushan Steel Limited - India
- Australian Commodity Traders Exchange
- GMR Energy Limited - India
- Sojitz Corporation - Japan
- Ambuja Cements Ltd - India
- Petron Corporation, Philippines
- Wilmar Investment Holdings
- Kalimantan Lumbung Energi - Indonesia
- PNOC Exploration Corporation - Philippines
- Coalindo Energy - Indonesia
- Global Business Power Corporation, Philippines
- McConnell Dowell - Australia
- Timah Investasi Mineral - Indoneisa
- Toyota Tsusho Corporation, Japan
- Ministry of Mines - Canada
- Merrill Lynch Commodities Europe
- Karaikal Port Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Borneo Indobara - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Samtan Co., Ltd - South Korea
- Eastern Energy - Thailand
- Indogreen Group - Indonesia
- Bukit Baiduri Energy - Indonesia
- The University of Queensland
- Sarangani Energy Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Deloitte Consulting - India
- Renaissance Capital - South Africa
- Vedanta Resources Plc - India
- Asmin Koalindo Tuhup - Indonesia
- Orica Mining Services - Indonesia
- Bukit Makmur.PT - Indonesia
- Planning Commission, India
- Madhucon Powers Ltd - India
- Lanco Infratech Ltd - India
- Edison Trading Spa - Italy
- Singapore Mercantile Exchange
- Orica Australia Pty. Ltd.
- PTC India Limited - India
- Africa Commodities Group - South Africa
- Banpu Public Company Limited - Thailand
- Port Waratah Coal Services - Australia
- Standard Chartered Bank - UAE
- Directorate Of Revenue Intelligence - India
- Posco Energy - South Korea
- Independent Power Producers Association of India
- Indian Oil Corporation Limited
- Kobexindo Tractors - Indoneisa
- Pipit Mutiara Jaya. PT, Indonesia
- Eastern Coal Council - USA
- Siam City Cement - Thailand
- Minerals Council of Australia
- Anglo American - United Kingdom
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indika Energy - Indonesia
- Australian Coal Association
- Cement Manufacturers Association - India
- Global Coal Blending Company Limited - Australia
- Manunggal Multi Energi - Indonesia
- SN Aboitiz Power Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Gujarat Electricity Regulatory Commission - India
- Barasentosa Lestari - Indonesia
- Latin American Coal - Colombia
- Wood Mackenzie - Singapore
- Marubeni Corporation - India
- Meralco Power Generation, Philippines
- Xindia Steels Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Gujarat Sidhee Cement - India
- Parliament of New Zealand
- Tata Chemicals Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Semirara Mining Corp, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Bayan Resources Tbk. - Indonesia
- Maheswari Brothers Coal Limited - India
- Central Java Power - Indonesia
- Heidelberg Cement - Germany
- Carbofer General Trading SA - India
- Energy Development Corp, Philippines
- Energy Link Ltd, New Zealand
- Indo Tambangraya Megah - Indonesia
- TeaM Sual Corporation - Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- European Bulk Services B.V. - Netherlands
- Georgia Ports Authority, United States
- Interocean Group of Companies - India
- Essar Steel Hazira Ltd - India
- SMG Consultants - Indonesia
- VISA Power Limited - India
- Price Waterhouse Coopers - Russia
- Aboitiz Power Corporation - Philippines
- Kumho Petrochemical, South Korea
- Bharathi Cement Corporation - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Chettinad Cement Corporation Ltd - India
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