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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, 08 February 11
BAYAN, KANGAROO EXTEND DUE DILIGENCE
Coal miner controlled by businessman Dato' Low Tuck Kwong PT Bayan Resources Tbk (BYAN) and Australia-listed coal company Kangaroo Resources Limite ...
Tuesday, 08 February 11
DRY BULK: IS THE TIDE TURNING? - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
In what could be perceived as a change of market sentiment for the better, the dry bulk industry’s benchmark, the Baltic Dry Index (BDI) poste ...
Monday, 07 February 11
THE INDONESIAN COAL REFERENCE PRICE HAS JUMPED 13.03 PERCENT IN FEBRUARY 2011
COALspot.com - Indonesia’s Ministry of Energy and Mineral Resources has set the February 2011 Indonesian Coal Reference Price for therma ...
Monday, 07 February 11
COAL PRICES ON RISE: DEMAND FROM INDIA AND CHINA - ANALYZED SUNIL K KUMBHAT
INDONESIA IS HEART OF ASIAN COAL BOOM
COALspot.com - Rising demand of Coal from India and China, coupled with global financial recovery, is driv ...
Monday, 07 February 11
RICHARDS BAY COAL TERMINAL EXPORTS SURGE, BUOYED BY ECONOMIC DEVELOPMENT IN CHINA AND INDIA
COALspot.com - Richards Bay Coal Terminal (RBCT) announced today that 2010 exports have exceeded the last two years’ performance, said in a re ...
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- PTC India Limited - India
- Salva Resources Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Bhatia International Limited - India
- Singapore Mercantile Exchange
- Rio Tinto Coal - Australia
- Petrochimia International Co. Ltd.- Taiwan
- CNBM International Corporation - China
- Timah Investasi Mineral - Indoneisa
- Renaissance Capital - South Africa
- South Luzon Thermal Energy Corporation
- Bukit Baiduri Energy - Indonesia
- Minerals Council of Australia
- Ministry of Mines - Canada
- Sindya Power Generating Company Private Ltd
- Coal and Oil Company - UAE
- Dalmia Cement Bharat India
- Parliament of New Zealand
- PowerSource Philippines DevCo
- Commonwealth Bank - Australia
- Thai Mozambique Logistica
- Coastal Gujarat Power Limited - India
- Romanian Commodities Exchange
- Jaiprakash Power Ventures ltd
- GAC Shipping (India) Pvt Ltd
- Marubeni Corporation - India
- Binh Thuan Hamico - Vietnam
- Cement Manufacturers Association - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Bhushan Steel Limited - India
- Straits Asia Resources Limited - Singapore
- Tamil Nadu electricity Board
- Bangladesh Power Developement Board
- IEA Clean Coal Centre - UK
- Attock Cement Pakistan Limited
- Mercuria Energy - Indonesia
- Latin American Coal - Colombia
- Kideco Jaya Agung - Indonesia
- Borneo Indobara - Indonesia
- Aboitiz Power Corporation - Philippines
- Pendopo Energi Batubara - Indonesia
- London Commodity Brokers - England
- Economic Council, Georgia
- New Zealand Coal & Carbon
- Ceylon Electricity Board - Sri Lanka
- Wood Mackenzie - Singapore
- Vedanta Resources Plc - India
- Riau Bara Harum - Indonesia
- Petron Corporation, Philippines
- Gujarat Sidhee Cement - India
- GN Power Mariveles Coal Plant, Philippines
- Cigading International Bulk Terminal - Indonesia
- Indonesian Coal Mining Association
- Meenaskhi Energy Private Limited - India
- Ministry of Finance - Indonesia
- Orica Mining Services - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Banpu Public Company Limited - Thailand
- Sojitz Corporation - Japan
- Oldendorff Carriers - Singapore
- Simpson Spence & Young - Indonesia
- Mintek Dendrill Indonesia
- Krishnapatnam Port Company Ltd. - India
- Kumho Petrochemical, South Korea
- Mercator Lines Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Indian Energy Exchange, India
- Bukit Asam (Persero) Tbk - Indonesia
- Bayan Resources Tbk. - Indonesia
- Bulk Trading Sa - Switzerland
- Price Waterhouse Coopers - Russia
- McConnell Dowell - Australia
- Videocon Industries ltd - India
- The State Trading Corporation of India Ltd
- Trasteel International SA, Italy
- OPG Power Generation Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Formosa Plastics Group - Taiwan
- Metalloyd Limited - United Kingdom
- Electricity Authority, New Zealand
- Essar Steel Hazira Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Xindia Steels Limited - India
- Central Java Power - Indonesia
- Larsen & Toubro Limited - India
- Malabar Cements Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Ministry of Transport, Egypt
- Semirara Mining and Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Miang Besar Coal Terminal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Alfred C Toepfer International GmbH - Germany
- Maharashtra Electricity Regulatory Commission - India
- Barasentosa Lestari - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Maheswari Brothers Coal Limited - India
- Ambuja Cements Ltd - India
- Energy Link Ltd, New Zealand
- Wilmar Investment Holdings
- Grasim Industreis Ltd - India
- Indika Energy - Indonesia
- SMC Global Power, Philippines
- Central Electricity Authority - India
- Billiton Holdings Pty Ltd - Australia
- Heidelberg Cement - Germany
- Indogreen Group - Indonesia
- Chettinad Cement Corporation Ltd - India
- Carbofer General Trading SA - India
- GMR Energy Limited - India
- Semirara Mining Corp, Philippines
- GVK Power & Infra Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Baramulti Group, Indonesia
- Tata Chemicals Ltd - India
- Sical Logistics Limited - India
- Makarim & Taira - Indonesia
- Planning Commission, India
- Sree Jayajothi Cements Limited - India
- Port Waratah Coal Services - Australia
- Chamber of Mines of South Africa
- Gujarat Electricity Regulatory Commission - India
- Parry Sugars Refinery, India
- Kohat Cement Company Ltd. - Pakistan
- Energy Development Corp, Philippines
- Siam City Cement PLC, Thailand
- PetroVietnam Power Coal Import and Supply Company
- Australian Coal Association
- Bukit Makmur.PT - Indonesia
- Independent Power Producers Association of India
- Kalimantan Lumbung Energi - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Thiess Contractors Indonesia
- Uttam Galva Steels Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Global Coal Blending Company Limited - Australia
- Manunggal Multi Energi - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- SN Aboitiz Power Inc, Philippines
- Agrawal Coal Company - India
- Bhoruka Overseas - Indonesia
- Deloitte Consulting - India
- Lanco Infratech Ltd - India
- Aditya Birla Group - India
- Eastern Energy - Thailand
- Karbindo Abesyapradhi - Indoneisa
- TeaM Sual Corporation - Philippines
- Directorate Of Revenue Intelligence - India
- Sarangani Energy Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Asmin Koalindo Tuhup - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Indo Tambangraya Megah - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Jindal Steel & Power Ltd - India
- Electricity Generating Authority of Thailand
- Anglo American - United Kingdom
- The University of Queensland
- Savvy Resources Ltd - HongKong
- Intertek Mineral Services - Indonesia
- CIMB Investment Bank - Malaysia
- Meralco Power Generation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kartika Selabumi Mining - Indonesia
- Australian Commodity Traders Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- IHS Mccloskey Coal Group - USA
- Kepco SPC Power Corporation, Philippines
- Star Paper Mills Limited - India
- Altura Mining Limited, Indonesia
- Siam City Cement - Thailand
- Global Green Power PLC Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Medco Energi Mining Internasional
- Samtan Co., Ltd - South Korea
- White Energy Company Limited
- Sakthi Sugars Limited - India
- Kaltim Prima Coal - Indonesia
- PNOC Exploration Corporation - Philippines
- Bharathi Cement Corporation - India
- Global Business Power Corporation, Philippines
- SMG Consultants - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Eastern Coal Council - USA
- Interocean Group of Companies - India
- Goldman Sachs - Singapore
- Sinarmas Energy and Mining - Indonesia
- Ind-Barath Power Infra Limited - India
- Coalindo Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Mjunction Services Limited - India
- Orica Australia Pty. Ltd.
- Karaikal Port Pvt Ltd - India
- The Treasury - Australian Government
- Rashtriya Ispat Nigam Limited - India
- Power Finance Corporation Ltd., India
- Georgia Ports Authority, United States
- International Coal Ventures Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Standard Chartered Bank - UAE
- Indian Oil Corporation Limited
- Africa Commodities Group - South Africa
- Madhucon Powers Ltd - India
- Edison Trading Spa - Italy
- European Bulk Services B.V. - Netherlands
- LBH Netherlands Bv - Netherlands
- Toyota Tsusho Corporation, Japan
- Posco Energy - South Korea
- MS Steel International - UAE
- ASAPP Information Group - India
- India Bulls Power Limited - India
- VISA Power Limited - India
- ICICI Bank Limited - India
- Merrill Lynch Commodities Europe
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