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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, 26 April 11
NTPC CALLS TENDER FOR 4 MLN TON OF NON-COKING COAL
COALspot.com - NTPC Limited, incorporated in 1975 as a public sector company wholly owned by Government of India, is the largest thermal power gener ...
Monday, 25 April 11
THE FUTURES FOR THREE YEARS WAS AT AROUND PANAMAX/US$ 14,000 PER DAY & SUPRAMAX/US$ 14,000 PER DAY - VISTAAR
COALspot.com - The freight market continued to soften further with all segments down except for the handy size which was marginally up by 10 points. ...
Saturday, 23 April 11
GUPTA COAL TO BAG ONE MILLION TONS OF COAL SUPPLY ORDER FROM KPCL AT AROUND US$ 127.53 PMT
COALspot.com - Karnataka Power Corporation (KPCL), a state utility of Karnataka, India has secured its one million tons of thermal coal with c ...
Saturday, 23 April 11
STRAITS ASIA SETS 11.5 MIO TONS OUTPUT - INSIDER STORIES
Insider Stories reported that, Singapore-listed Straits Asia Resources Limited plans to jack up its coal output target of 8.5% to 11.5 million tons ...
Friday, 22 April 11
DRY BULK MARKET KEEPS FALLING, NOW AT TWO-MONTH LOWS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market seems unable at the moment to recover from the weight of newbuilding deliveries, resulting in too many ships competing for fewer ...
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- Ambuja Cements Ltd - India
- Indogreen Group - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- GVK Power & Infra Limited - India
- Baramulti Group, Indonesia
- Sakthi Sugars Limited - India
- Bukit Makmur.PT - Indonesia
- Borneo Indobara - Indonesia
- Coastal Gujarat Power Limited - India
- Planning Commission, India
- Merrill Lynch Commodities Europe
- White Energy Company Limited
- MS Steel International - UAE
- Cigading International Bulk Terminal - Indonesia
- The Treasury - Australian Government
- Altura Mining Limited, Indonesia
- Independent Power Producers Association of India
- Georgia Ports Authority, United States
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Bhushan Steel Limited - India
- Barasentosa Lestari - Indonesia
- Salva Resources Pvt Ltd - India
- Port Waratah Coal Services - Australia
- India Bulls Power Limited - India
- Timah Investasi Mineral - Indoneisa
- San Jose City I Power Corp, Philippines
- CNBM International Corporation - China
- Kideco Jaya Agung - Indonesia
- Gujarat Sidhee Cement - India
- Bukit Asam (Persero) Tbk - Indonesia
- Siam City Cement - Thailand
- Mercuria Energy - Indonesia
- Mjunction Services Limited - India
- Intertek Mineral Services - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- International Coal Ventures Pvt Ltd - India
- Economic Council, Georgia
- Makarim & Taira - Indonesia
- Indonesian Coal Mining Association
- Wood Mackenzie - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Minerals Council of Australia
- Sinarmas Energy and Mining - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Singapore Mercantile Exchange
- Gujarat Electricity Regulatory Commission - India
- The University of Queensland
- Global Green Power PLC Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Savvy Resources Ltd - HongKong
- Essar Steel Hazira Ltd - India
- Central Java Power - Indonesia
- Tamil Nadu electricity Board
- Eastern Coal Council - USA
- Karaikal Port Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Metalloyd Limited - United Kingdom
- Sical Logistics Limited - India
- Bhoruka Overseas - Indonesia
- Sree Jayajothi Cements Limited - India
- Sojitz Corporation - Japan
- Ministry of Transport, Egypt
- Asia Pacific Energy Resources Ventures Inc, Philippines
- London Commodity Brokers - England
- AsiaOL BioFuels Corp., Philippines
- Formosa Plastics Group - Taiwan
- Romanian Commodities Exchange
- Rio Tinto Coal - Australia
- Star Paper Mills Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Manunggal Multi Energi - Indonesia
- Ind-Barath Power Infra Limited - India
- Carbofer General Trading SA - India
- Marubeni Corporation - India
- Energy Development Corp, Philippines
- Jaiprakash Power Ventures ltd
- Billiton Holdings Pty Ltd - Australia
- Parry Sugars Refinery, India
- ASAPP Information Group - India
- Bayan Resources Tbk. - Indonesia
- Kepco SPC Power Corporation, Philippines
- Edison Trading Spa - Italy
- Karbindo Abesyapradhi - Indoneisa
- Siam City Cement PLC, Thailand
- Toyota Tsusho Corporation, Japan
- Grasim Industreis Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Agrawal Coal Company - India
- Semirara Mining Corp, Philippines
- European Bulk Services B.V. - Netherlands
- Bhatia International Limited - India
- Madhucon Powers Ltd - India
- The State Trading Corporation of India Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indian Oil Corporation Limited
- Lanco Infratech Ltd - India
- Uttam Galva Steels Limited - India
- Vizag Seaport Private Limited - India
- Meralco Power Generation, Philippines
- TeaM Sual Corporation - Philippines
- IHS Mccloskey Coal Group - USA
- South Luzon Thermal Energy Corporation
- Holcim Trading Pte Ltd - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Commonwealth Bank - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Australian Coal Association
- Chettinad Cement Corporation Ltd - India
- Electricity Authority, New Zealand
- Coal and Oil Company - UAE
- Chamber of Mines of South Africa
- Goldman Sachs - Singapore
- Aboitiz Power Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Petron Corporation, Philippines
- McConnell Dowell - Australia
- PNOC Exploration Corporation - Philippines
- Therma Luzon, Inc, Philippines
- SMG Consultants - Indonesia
- LBH Netherlands Bv - Netherlands
- Kohat Cement Company Ltd. - Pakistan
- GN Power Mariveles Coal Plant, Philippines
- SN Aboitiz Power Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Ceylon Electricity Board - Sri Lanka
- Straits Asia Resources Limited - Singapore
- Ministry of Finance - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Thai Mozambique Logistica
- Heidelberg Cement - Germany
- Cement Manufacturers Association - India
- PTC India Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Kapuas Tunggal Persada - Indonesia
- Standard Chartered Bank - UAE
- ICICI Bank Limited - India
- VISA Power Limited - India
- Vedanta Resources Plc - India
- Africa Commodities Group - South Africa
- Dalmia Cement Bharat India
- Tata Chemicals Ltd - India
- Xindia Steels Limited - India
- Power Finance Corporation Ltd., India
- Thiess Contractors Indonesia
- Attock Cement Pakistan Limited
- SMC Global Power, Philippines
- Samtan Co., Ltd - South Korea
- Orica Mining Services - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sindya Power Generating Company Private Ltd
- Krishnapatnam Port Company Ltd. - India
- Global Business Power Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Kalimantan Lumbung Energi - Indonesia
- OPG Power Generation Pvt Ltd - India
- Central Electricity Authority - India
- Coalindo Energy - Indonesia
- Ministry of Mines - Canada
- GAC Shipping (India) Pvt Ltd
- Indo Tambangraya Megah - Indonesia
- Medco Energi Mining Internasional
- Directorate Of Revenue Intelligence - India
- Mintek Dendrill Indonesia
- Trasteel International SA, Italy
- Larsen & Toubro Limited - India
- Kumho Petrochemical, South Korea
- CIMB Investment Bank - Malaysia
- Meenaskhi Energy Private Limited - India
- Price Waterhouse Coopers - Russia
- Binh Thuan Hamico - Vietnam
- Antam Resourcindo - Indonesia
- Sarangani Energy Corporation, Philippines
- Indian Energy Exchange, India
- Pendopo Energi Batubara - Indonesia
- Eastern Energy - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Renaissance Capital - South Africa
- Interocean Group of Companies - India
- Iligan Light & Power Inc, Philippines
- Anglo American - United Kingdom
- Global Coal Blending Company Limited - Australia
- IEA Clean Coal Centre - UK
- Bangladesh Power Developement Board
- Indika Energy - Indonesia
- Latin American Coal - Colombia
- Rashtriya Ispat Nigam Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Simpson Spence & Young - Indonesia
- PowerSource Philippines DevCo
- Mercator Lines Limited - India
- Bukit Baiduri Energy - Indonesia
- Parliament of New Zealand
- Semirara Mining and Power Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Miang Besar Coal Terminal - Indonesia
- New Zealand Coal & Carbon
- Malabar Cements Ltd - India
- Deloitte Consulting - India
- Australian Commodity Traders Exchange
- Videocon Industries ltd - India
- Bharathi Cement Corporation - India
- Kobexindo Tractors - Indoneisa
- Aditya Birla Group - India
- Globalindo Alam Lestari - Indonesia
- Posco Energy - South Korea
- Kaltim Prima Coal - Indonesia
- Electricity Generating Authority of Thailand
- Riau Bara Harum - Indonesia
- Maheswari Brothers Coal Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Energy Link Ltd, New Zealand
- GMR Energy Limited - India
- Bulk Trading Sa - Switzerland
- Kartika Selabumi Mining - Indonesia
- Wilmar Investment Holdings
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