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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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Saturday, 28 May 11
GOLDEN MINES IPO AT RP 2,300 - RP 3,500
Coal miner PT Golden Energy Mines, a wholly owned subsidiary of PT Dian Swastatika Sentosa Tbk (DSSA) which is controlled by Indonesian businessman ...
Friday, 27 May 11
LARGER DRY BULK CARRIERS LEAD BDIS RALLY THIS WEEK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Larger dry bulk vessels have kept on leading the market’s rise this week, with the BDI (Baltic Dry Index) rising by a more than healthy 3.43% ...
Wednesday, 25 May 11
70 PERCENT OF HARUMS PRODUCTION SOLD - BISNIS INDONESIA
Coal producer PT Harum Energy Tbk claimed that out of this year's total production target of 10 million tons, 70% or 7 million tons had been sold, ...
Wednesday, 25 May 11
MINERS BACK GOVT PLAN TO FREEZE MINING PERMITS - THE JAKARTA POST
Indonesian coal miners hailed the government’s decision to impose a moratorium on the issuance of new mining permits, saying the freeze would ...
Wednesday, 25 May 11
DRY BULK MARKET ENTERS WEEK ON A HIGH NOTE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has managed to end its downward trend of the past few weeks and surge back on higher ground. Yesterday, the Baltic Dry Index (BD ...
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- Pendopo Energi Batubara - Indonesia
- Electricity Generating Authority of Thailand
- Mercator Lines Limited - India
- Petron Corporation, Philippines
- White Energy Company Limited
- Singapore Mercantile Exchange
- Kohat Cement Company Ltd. - Pakistan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Agrawal Coal Company - India
- Karbindo Abesyapradhi - Indoneisa
- Sojitz Corporation - Japan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Kaltim Prima Coal - Indonesia
- Interocean Group of Companies - India
- Sarangani Energy Corporation, Philippines
- Indika Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Edison Trading Spa - Italy
- SMC Global Power, Philippines
- Larsen & Toubro Limited - India
- Africa Commodities Group - South Africa
- Rio Tinto Coal - Australia
- Anglo American - United Kingdom
- Meralco Power Generation, Philippines
- Planning Commission, India
- Cement Manufacturers Association - India
- Asmin Koalindo Tuhup - Indonesia
- Borneo Indobara - Indonesia
- Economic Council, Georgia
- Indonesian Coal Mining Association
- Pipit Mutiara Jaya. PT, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- IEA Clean Coal Centre - UK
- Minerals Council of Australia
- Aboitiz Power Corporation - Philippines
- Kumho Petrochemical, South Korea
- McConnell Dowell - Australia
- Kobexindo Tractors - Indoneisa
- Jorong Barutama Greston.PT - Indonesia
- Bhushan Steel Limited - India
- Sakthi Sugars Limited - India
- IHS Mccloskey Coal Group - USA
- Latin American Coal - Colombia
- Wilmar Investment Holdings
- Essar Steel Hazira Ltd - India
- Power Finance Corporation Ltd., India
- Thiess Contractors Indonesia
- Commonwealth Bank - Australia
- Chamber of Mines of South Africa
- Global Green Power PLC Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Eastern Coal Council - USA
- Savvy Resources Ltd - HongKong
- Lanco Infratech Ltd - India
- Simpson Spence & Young - Indonesia
- Toyota Tsusho Corporation, Japan
- Semirara Mining Corp, Philippines
- Price Waterhouse Coopers - Russia
- Altura Mining Limited, Indonesia
- Siam City Cement PLC, Thailand
- SN Aboitiz Power Inc, Philippines
- Gujarat Sidhee Cement - India
- Tamil Nadu electricity Board
- Mercuria Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Kartika Selabumi Mining - Indonesia
- Leighton Contractors Pty Ltd - Australia
- VISA Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- Goldman Sachs - Singapore
- Metalloyd Limited - United Kingdom
- CNBM International Corporation - China
- Central Electricity Authority - India
- Merrill Lynch Commodities Europe
- Marubeni Corporation - India
- Sindya Power Generating Company Private Ltd
- Indian Energy Exchange, India
- Bukit Asam (Persero) Tbk - Indonesia
- Kideco Jaya Agung - Indonesia
- Indogreen Group - Indonesia
- Dalmia Cement Bharat India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bangladesh Power Developement Board
- Gujarat Mineral Development Corp Ltd - India
- Eastern Energy - Thailand
- Karaikal Port Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Tata Chemicals Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Orica Australia Pty. Ltd.
- Star Paper Mills Limited - India
- MS Steel International - UAE
- Indian Oil Corporation Limited
- Holcim Trading Pte Ltd - Singapore
- Jaiprakash Power Ventures ltd
- Mjunction Services Limited - India
- PowerSource Philippines DevCo
- PetroVietnam Power Coal Import and Supply Company
- Intertek Mineral Services - Indonesia
- The University of Queensland
- GMR Energy Limited - India
- Vizag Seaport Private Limited - India
- Ceylon Electricity Board - Sri Lanka
- Energy Link Ltd, New Zealand
- ASAPP Information Group - India
- Directorate Of Revenue Intelligence - India
- Maheswari Brothers Coal Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- South Luzon Thermal Energy Corporation
- OPG Power Generation Pvt Ltd - India
- Xindia Steels Limited - India
- Heidelberg Cement - Germany
- Kalimantan Lumbung Energi - Indonesia
- European Bulk Services B.V. - Netherlands
- Samtan Co., Ltd - South Korea
- Cigading International Bulk Terminal - Indonesia
- Georgia Ports Authority, United States
- Salva Resources Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Thai Mozambique Logistica
- TNB Fuel Sdn Bhd - Malaysia
- Romanian Commodities Exchange
- Baramulti Group, Indonesia
- SMG Consultants - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Trasteel International SA, Italy
- Parry Sugars Refinery, India
- Bukit Baiduri Energy - Indonesia
- Deloitte Consulting - India
- Vijayanagar Sugar Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Bhatia International Limited - India
- Barasentosa Lestari - Indonesia
- International Coal Ventures Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Independent Power Producers Association of India
- Coalindo Energy - Indonesia
- London Commodity Brokers - England
- Medco Energi Mining Internasional
- Krishnapatnam Port Company Ltd. - India
- Makarim & Taira - Indonesia
- TeaM Sual Corporation - Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Orica Mining Services - Indonesia
- Kepco SPC Power Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Manunggal Multi Energi - Indonesia
- Sree Jayajothi Cements Limited - India
- GVK Power & Infra Limited - India
- Parliament of New Zealand
- Indo Tambangraya Megah - Indonesia
- Malabar Cements Ltd - India
- Miang Besar Coal Terminal - Indonesia
- ICICI Bank Limited - India
- Ministry of Mines - Canada
- GAC Shipping (India) Pvt Ltd
- Australian Coal Association
- India Bulls Power Limited - India
- New Zealand Coal & Carbon
- Oldendorff Carriers - Singapore
- Electricity Authority, New Zealand
- Mintek Dendrill Indonesia
- Australian Commodity Traders Exchange
- Siam City Cement - Thailand
- Standard Chartered Bank - UAE
- Billiton Holdings Pty Ltd - Australia
- Alfred C Toepfer International GmbH - Germany
- Rashtriya Ispat Nigam Limited - India
- Sinarmas Energy and Mining - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Energy Development Corp, Philippines
- Coal and Oil Company - UAE
- Riau Bara Harum - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Global Coal Blending Company Limited - Australia
- PTC India Limited - India
- Bharathi Cement Corporation - India
- Straits Asia Resources Limited - Singapore
- Port Waratah Coal Services - Australia
- Madhucon Powers Ltd - India
- Jindal Steel & Power Ltd - India
- Uttam Galva Steels Limited - India
- The State Trading Corporation of India Ltd
- Meenaskhi Energy Private Limited - India
- Attock Cement Pakistan Limited
- Therma Luzon, Inc, Philippines
- Grasim Industreis Ltd - India
- Bayan Resources Tbk. - Indonesia
- Wood Mackenzie - Singapore
- Aditya Birla Group - India
- Ind-Barath Power Infra Limited - India
- Central Java Power - Indonesia
- Chettinad Cement Corporation Ltd - India
- Coastal Gujarat Power Limited - India
- Sical Logistics Limited - India
- Vedanta Resources Plc - India
- Global Business Power Corporation, Philippines
- Ministry of Finance - Indonesia
- Carbofer General Trading SA - India
- Renaissance Capital - South Africa
- Kapuas Tunggal Persada - Indonesia
- Globalindo Alam Lestari - Indonesia
- Bukit Makmur.PT - Indonesia
- Bulk Trading Sa - Switzerland
- LBH Netherlands Bv - Netherlands
- PNOC Exploration Corporation - Philippines
- Posco Energy - South Korea
- The Treasury - Australian Government
- CIMB Investment Bank - Malaysia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Binh Thuan Hamico - Vietnam
- Antam Resourcindo - Indonesia
- Ambuja Cements Ltd - India
- Iligan Light & Power Inc, Philippines
- Videocon Industries ltd - India
- Ministry of Transport, Egypt
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