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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, 28 February 11
COAL INDIA HIKES PRICES BY 12% FOR SELECT CONSUMERS - ECONOMIC TIMES
Economic Times reported that, Coal India has raised prices by an average 12% for some of its consumers from Sunday, boosting its revenue by 6,000 cr ...
Saturday, 26 February 11
CIL TO HIKE COAL PRICES BY 15 PC FROM TONIGHT - THE TIMES OF INDIA
The Times of India reported that, an Indian State-run coal producer, Coal India will raise the price of coal on an average by about 15 per cent with ...
Saturday, 26 February 11
SUPRAMAX INDEX WAS UP ABOUT 10 PERCENT THIS WEEK - VISTAAR
COALspot.com - The market started on a weak note and seemed to have lost the momentum seen the previous week. The main sectors affected were Cape an ...
Saturday, 26 February 11
PEABODY ENERGY ENTERS INTO COAL SOURCING AGREEMENT ACCESSING INDONESIAN COAL FOR EXPORT
Peabody Energy today said it has entered into an agreement with Indonesia's PT Cahaya Energi Mandiri (CEM) to source 2 million tons of coal for Asi ...
Thursday, 24 February 11
DRY BULK MARKET KEEPS LOSING GROUND, CAPESIZES SUFFERING - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market lost further ground yesterday, as the industry’s benchmark, the Baltic Dry Index was rapidly falling, ending the session d ...
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- Ministry of Mines - Canada
- Ministry of Transport, Egypt
- Coal and Oil Company - UAE
- Meralco Power Generation, Philippines
- Indika Energy - Indonesia
- Mercuria Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Bayan Resources Tbk. - Indonesia
- VISA Power Limited - India
- Deloitte Consulting - India
- Kalimantan Lumbung Energi - Indonesia
- GMR Energy Limited - India
- Indian Energy Exchange, India
- GN Power Mariveles Coal Plant, Philippines
- IEA Clean Coal Centre - UK
- Iligan Light & Power Inc, Philippines
- Electricity Generating Authority of Thailand
- South Luzon Thermal Energy Corporation
- AsiaOL BioFuels Corp., Philippines
- Bukit Baiduri Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Altura Mining Limited, Indonesia
- Bukit Makmur.PT - Indonesia
- Malabar Cements Ltd - India
- SMC Global Power, Philippines
- Vizag Seaport Private Limited - India
- Maheswari Brothers Coal Limited - India
- Orica Mining Services - Indonesia
- Global Green Power PLC Corporation, Philippines
- Renaissance Capital - South Africa
- Miang Besar Coal Terminal - Indonesia
- ASAPP Information Group - India
- Larsen & Toubro Limited - India
- Indonesian Coal Mining Association
- Samtan Co., Ltd - South Korea
- PetroVietnam Power Coal Import and Supply Company
- Romanian Commodities Exchange
- Bangladesh Power Developement Board
- Vedanta Resources Plc - India
- Posco Energy - South Korea
- CNBM International Corporation - China
- Bulk Trading Sa - Switzerland
- Sojitz Corporation - Japan
- Siam City Cement - Thailand
- Standard Chartered Bank - UAE
- Australian Commodity Traders Exchange
- MS Steel International - UAE
- Indo Tambangraya Megah - Indonesia
- Trasteel International SA, Italy
- Indogreen Group - Indonesia
- OPG Power Generation Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Edison Trading Spa - Italy
- Riau Bara Harum - Indonesia
- International Coal Ventures Pvt Ltd - India
- Parry Sugars Refinery, India
- Thai Mozambique Logistica
- IHS Mccloskey Coal Group - USA
- Interocean Group of Companies - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Port Waratah Coal Services - Australia
- Siam City Cement PLC, Thailand
- Wood Mackenzie - Singapore
- San Jose City I Power Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Africa Commodities Group - South Africa
- Krishnapatnam Port Company Ltd. - India
- Madhucon Powers Ltd - India
- Kepco SPC Power Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sinarmas Energy and Mining - Indonesia
- Ind-Barath Power Infra Limited - India
- PTC India Limited - India
- Sakthi Sugars Limited - India
- Petron Corporation, Philippines
- Energy Development Corp, Philippines
- Oldendorff Carriers - Singapore
- Banpu Public Company Limited - Thailand
- Bhatia International Limited - India
- Gujarat Electricity Regulatory Commission - India
- Uttam Galva Steels Limited - India
- Lanco Infratech Ltd - India
- Dalmia Cement Bharat India
- Global Business Power Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Chettinad Cement Corporation Ltd - India
- Central Java Power - Indonesia
- Kumho Petrochemical, South Korea
- Goldman Sachs - Singapore
- Star Paper Mills Limited - India
- Mintek Dendrill Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Sree Jayajothi Cements Limited - India
- Sical Logistics Limited - India
- Cigading International Bulk Terminal - Indonesia
- Borneo Indobara - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Intertek Mineral Services - Indonesia
- Antam Resourcindo - Indonesia
- Heidelberg Cement - Germany
- McConnell Dowell - Australia
- Ambuja Cements Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Commonwealth Bank - Australia
- Karaikal Port Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Holcim Trading Pte Ltd - Singapore
- Wilmar Investment Holdings
- Savvy Resources Ltd - HongKong
- Makarim & Taira - Indonesia
- Planning Commission, India
- Tamil Nadu electricity Board
- Straits Asia Resources Limited - Singapore
- Chamber of Mines of South Africa
- Coastal Gujarat Power Limited - India
- Directorate General of MIneral and Coal - Indonesia
- SN Aboitiz Power Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- Cement Manufacturers Association - India
- Aditya Birla Group - India
- GVK Power & Infra Limited - India
- Billiton Holdings Pty Ltd - Australia
- Australian Coal Association
- Jindal Steel & Power Ltd - India
- Simpson Spence & Young - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- SMG Consultants - Indonesia
- Energy Link Ltd, New Zealand
- Independent Power Producers Association of India
- Bhoruka Overseas - Indonesia
- New Zealand Coal & Carbon
- Jorong Barutama Greston.PT - Indonesia
- Kaltim Prima Coal - Indonesia
- Eastern Coal Council - USA
- The Treasury - Australian Government
- Price Waterhouse Coopers - Russia
- ICICI Bank Limited - India
- Salva Resources Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Parliament of New Zealand
- Carbofer General Trading SA - India
- LBH Netherlands Bv - Netherlands
- Attock Cement Pakistan Limited
- Aboitiz Power Corporation - Philippines
- Indian Oil Corporation Limited
- Toyota Tsusho Corporation, Japan
- Asmin Koalindo Tuhup - Indonesia
- Rio Tinto Coal - Australia
- Videocon Industries ltd - India
- Gujarat Sidhee Cement - India
- Maharashtra Electricity Regulatory Commission - India
- Ceylon Electricity Board - Sri Lanka
- Bharathi Cement Corporation - India
- Global Coal Blending Company Limited - Australia
- Thiess Contractors Indonesia
- Kartika Selabumi Mining - Indonesia
- Ministry of Finance - Indonesia
- Kideco Jaya Agung - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Singapore Mercantile Exchange
- Economic Council, Georgia
- Rashtriya Ispat Nigam Limited - India
- Sindya Power Generating Company Private Ltd
- Leighton Contractors Pty Ltd - Australia
- Mercator Lines Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Essar Steel Hazira Ltd - India
- The University of Queensland
- Mjunction Services Limited - India
- Eastern Energy - Thailand
- Barasentosa Lestari - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Kohat Cement Company Ltd. - Pakistan
- European Bulk Services B.V. - Netherlands
- Formosa Plastics Group - Taiwan
- Merrill Lynch Commodities Europe
- Kapuas Tunggal Persada - Indonesia
- Globalindo Alam Lestari - Indonesia
- Manunggal Multi Energi - Indonesia
- Anglo American - United Kingdom
- Minerals Council of Australia
- Jaiprakash Power Ventures ltd
- Agrawal Coal Company - India
- Central Electricity Authority - India
- Sarangani Energy Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bhushan Steel Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- PNOC Exploration Corporation - Philippines
- PowerSource Philippines DevCo
- Xindia Steels Limited - India
- Grasim Industreis Ltd - India
- Semirara Mining and Power Corporation, Philippines
- The State Trading Corporation of India Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Georgia Ports Authority, United States
- Latin American Coal - Colombia
- Coalindo Energy - Indonesia
- TeaM Sual Corporation - Philippines
- London Commodity Brokers - England
- Baramulti Group, Indonesia
- Medco Energi Mining Internasional
- Tata Chemicals Ltd - India
- White Energy Company Limited
- Timah Investasi Mineral - Indoneisa
- Electricity Authority, New Zealand
- India Bulls Power Limited - India
- Marubeni Corporation - India
- Orica Australia Pty. Ltd.
- CIMB Investment Bank - Malaysia
- Bahari Cakrawala Sebuku - Indonesia
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