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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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Monday, 16 May 11
INDO TAMBANG 1Q SALES REVENUE UP - INSIDER STORIES
Thai Banpu Plc last week reported a 7.83% increase in coal sales revenue from its Indonesian operating unit via PT Indo Tambangraya Megah Tbk (ITMG) ...
Sunday, 15 May 11
THE FREIGHT MARKET REMAINED SOFT - VISTAAR
COALspot.com - "The freight market overall remained soft", said Capt. Reddy, Director of Vistaar Shipping Singapore. He further added, &qu ...
Saturday, 14 May 11
WELSPUN TO ACQUIRE AN INDONESIAN COAL MINE - MEDIA
The India based Welspun Power and Steel Ltd is planning to acquire 456,000 shares in PT Batubara Energy Indonesia, representing 75% interest, accord ...
Saturday, 14 May 11
DRY BULK MARKET ON A DOWNFALL ONCE AGAIN - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
In what is now pretty clear will be yet another challenging year for dry bulk ship owners, the Baltic Dry Index returned to its usual pattern of dec ...
Tuesday, 10 May 11
DRY BULK MARKET KEEPS ON RISING, OUTLOOK MIXED - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market inched forward once again on Monday, with the Baltic Dry Index rising by 0.6% to 1,348, although the Capesize market was 0.57% l ...
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- Simpson Spence & Young - Indonesia
- Miang Besar Coal Terminal - Indonesia
- PTC India Limited - India
- Bhoruka Overseas - Indonesia
- Trasteel International SA, Italy
- Coastal Gujarat Power Limited - India
- Borneo Indobara - Indonesia
- The State Trading Corporation of India Ltd
- Bangladesh Power Developement Board
- Petron Corporation, Philippines
- Global Business Power Corporation, Philippines
- CIMB Investment Bank - Malaysia
- SMC Global Power, Philippines
- ASAPP Information Group - India
- Central Electricity Authority - India
- Barasentosa Lestari - Indonesia
- Savvy Resources Ltd - HongKong
- Meenaskhi Energy Private Limited - India
- Semirara Mining and Power Corporation, Philippines
- Edison Trading Spa - Italy
- Energy Link Ltd, New Zealand
- Karbindo Abesyapradhi - Indoneisa
- Thiess Contractors Indonesia
- Indo Tambangraya Megah - Indonesia
- Grasim Industreis Ltd - India
- Aboitiz Power Corporation - Philippines
- Iligan Light & Power Inc, Philippines
- Marubeni Corporation - India
- SMG Consultants - Indonesia
- Tamil Nadu electricity Board
- Directorate Of Revenue Intelligence - India
- ICICI Bank Limited - India
- Metalloyd Limited - United Kingdom
- CNBM International Corporation - China
- IHS Mccloskey Coal Group - USA
- Semirara Mining Corp, Philippines
- VISA Power Limited - India
- Indian Energy Exchange, India
- Rio Tinto Coal - Australia
- Rashtriya Ispat Nigam Limited - India
- Karaikal Port Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Cement Manufacturers Association - India
- Jindal Steel & Power Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Cigading International Bulk Terminal - Indonesia
- Sarangani Energy Corporation, Philippines
- Minerals Council of Australia
- Wood Mackenzie - Singapore
- Ministry of Mines - Canada
- Therma Luzon, Inc, Philippines
- Vizag Seaport Private Limited - India
- Intertek Mineral Services - Indonesia
- Posco Energy - South Korea
- Indogreen Group - Indonesia
- GVK Power & Infra Limited - India
- Sakthi Sugars Limited - India
- Billiton Holdings Pty Ltd - Australia
- GAC Shipping (India) Pvt Ltd
- Indika Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Indonesian Coal Mining Association
- Economic Council, Georgia
- Banpu Public Company Limited - Thailand
- Baramulti Group, Indonesia
- Indian Oil Corporation Limited
- Energy Development Corp, Philippines
- IEA Clean Coal Centre - UK
- Tata Chemicals Ltd - India
- New Zealand Coal & Carbon
- India Bulls Power Limited - India
- Power Finance Corporation Ltd., India
- Ministry of Finance - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Directorate General of MIneral and Coal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Singapore Mercantile Exchange
- MS Steel International - UAE
- Eastern Coal Council - USA
- International Coal Ventures Pvt Ltd - India
- Meralco Power Generation, Philippines
- Siam City Cement PLC, Thailand
- Africa Commodities Group - South Africa
- Interocean Group of Companies - India
- Thai Mozambique Logistica
- Leighton Contractors Pty Ltd - Australia
- Mercator Lines Limited - India
- Romanian Commodities Exchange
- Gujarat Mineral Development Corp Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Bhushan Steel Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Coalindo Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Kumho Petrochemical, South Korea
- Bahari Cakrawala Sebuku - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Timah Investasi Mineral - Indoneisa
- Larsen & Toubro Limited - India
- San Jose City I Power Corp, Philippines
- Central Java Power - Indonesia
- Formosa Plastics Group - Taiwan
- Standard Chartered Bank - UAE
- Sindya Power Generating Company Private Ltd
- Bayan Resources Tbk. - Indonesia
- European Bulk Services B.V. - Netherlands
- Ceylon Electricity Board - Sri Lanka
- The Treasury - Australian Government
- Bharathi Cement Corporation - India
- Binh Thuan Hamico - Vietnam
- Renaissance Capital - South Africa
- Kobexindo Tractors - Indoneisa
- PowerSource Philippines DevCo
- Alfred C Toepfer International GmbH - Germany
- Makarim & Taira - Indonesia
- Uttam Galva Steels Limited - India
- Samtan Co., Ltd - South Korea
- Dalmia Cement Bharat India
- Electricity Generating Authority of Thailand
- Deloitte Consulting - India
- Attock Cement Pakistan Limited
- Ind-Barath Power Infra Limited - India
- Gujarat Sidhee Cement - India
- PetroVietnam Power Coal Import and Supply Company
- London Commodity Brokers - England
- Merrill Lynch Commodities Europe
- Sojitz Corporation - Japan
- Kaltim Prima Coal - Indonesia
- Planning Commission, India
- Kapuas Tunggal Persada - Indonesia
- GMR Energy Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Pendopo Energi Batubara - Indonesia
- South Luzon Thermal Energy Corporation
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Australian Commodity Traders Exchange
- Star Paper Mills Limited - India
- Latin American Coal - Colombia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PNOC Exploration Corporation - Philippines
- Siam City Cement - Thailand
- Global Coal Blending Company Limited - Australia
- Anglo American - United Kingdom
- Jorong Barutama Greston.PT - Indonesia
- Chamber of Mines of South Africa
- Straits Asia Resources Limited - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Parliament of New Zealand
- Australian Coal Association
- Electricity Authority, New Zealand
- Xindia Steels Limited - India
- TeaM Sual Corporation - Philippines
- Vedanta Resources Plc - India
- Orica Australia Pty. Ltd.
- Antam Resourcindo - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Coal and Oil Company - UAE
- Kideco Jaya Agung - Indonesia
- Malabar Cements Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Goldman Sachs - Singapore
- Oldendorff Carriers - Singapore
- GN Power Mariveles Coal Plant, Philippines
- AsiaOL BioFuels Corp., Philippines
- LBH Netherlands Bv - Netherlands
- Essar Steel Hazira Ltd - India
- Port Waratah Coal Services - Australia
- Carbofer General Trading SA - India
- Global Green Power PLC Corporation, Philippines
- Mjunction Services Limited - India
- Kepco SPC Power Corporation, Philippines
- Orica Mining Services - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mintek Dendrill Indonesia
- Ambuja Cements Ltd - India
- McConnell Dowell - Australia
- Globalindo Alam Lestari - Indonesia
- Heidelberg Cement - Germany
- Independent Power Producers Association of India
- TNB Fuel Sdn Bhd - Malaysia
- Parry Sugars Refinery, India
- Lanco Infratech Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Georgia Ports Authority, United States
- Commonwealth Bank - Australia
- Wilmar Investment Holdings
- Videocon Industries ltd - India
- Price Waterhouse Coopers - Russia
- The University of Queensland
- Salva Resources Pvt Ltd - India
- Bhatia International Limited - India
- Aditya Birla Group - India
- Manunggal Multi Energi - Indonesia
- Madhucon Powers Ltd - India
- Ministry of Transport, Egypt
- Sinarmas Energy and Mining - Indonesia
- Bulk Trading Sa - Switzerland
- SN Aboitiz Power Inc, Philippines
- Riau Bara Harum - Indonesia
- Mercuria Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Maheswari Brothers Coal Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Chettinad Cement Corporation Ltd - India
- Kartika Selabumi Mining - Indonesia
- Jaiprakash Power Ventures ltd
- Medco Energi Mining Internasional
- Bukit Makmur.PT - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Bukit Baiduri Energy - Indonesia
- Agrawal Coal Company - India
- Toyota Tsusho Corporation, Japan
- Sical Logistics Limited - India
- Altura Mining Limited, Indonesia
- White Energy Company Limited
- Eastern Energy - Thailand
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