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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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Friday, 04 February 11
ADARO ENERGY FY10 COAL SALES UP 6 PERCENT TO 43.84 MILLION
As reported by insider stories, Indonesian coal miners PT Adaro Energy Tbk has produced 42.20 million tons of coal in 2010, a 4 percent increase com ...
Thursday, 03 February 11
MERCATOR LINES TO INVEST RS 200-250 CRORE ON COAL MINE IN INDONESIA - ECONOMIC TIMES
Economic Times reported that, Mercator Lines, the HK Mittal-controlled shipping-to-mines major, will invest about 200-250 crore (US$ 43.825 - 54.781 ...
Thursday, 03 February 11
DRY BULK MARKET LOOKS SET TO BOTTOM OUT NIKOS - ROUSSANOGLOU, HELLENIC SHIPPING
With the dry bulk market having lost more than 72% of its value in the last month or so and having retreated to a 2-year low, it seems that the bott ...
Wednesday, 02 February 11
INDONESIA MAY MISS COAL EXPORT TARGET IN 2011
COALspot.com - Indonesian Trade ministry has instructed independent surveyors temporarily not to issue pre-shipment survey report (LS) to the compan ...
Wednesday, 02 February 11
BAYAN TO SUPPLY COAL TO TP UTILITIES LTD
Insider Stories has reportd that, Indonesia's one of the leading coal miner PT Bayan Resources Tbk (BYAN) owned by businessman Dato' Low Tuck ...
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- Meenaskhi Energy Private Limited - India
- Commonwealth Bank - Australia
- Indo Tambangraya Megah - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Australian Commodity Traders Exchange
- Chettinad Cement Corporation Ltd - India
- Kumho Petrochemical, South Korea
- Parliament of New Zealand
- Indian Energy Exchange, India
- Attock Cement Pakistan Limited
- Oldendorff Carriers - Singapore
- Medco Energi Mining Internasional
- Electricity Generating Authority of Thailand
- ASAPP Information Group - India
- Krishnapatnam Port Company Ltd. - India
- Minerals Council of Australia
- Simpson Spence & Young - Indonesia
- Indika Energy - Indonesia
- The Treasury - Australian Government
- Jorong Barutama Greston.PT - Indonesia
- Ministry of Transport, Egypt
- SMC Global Power, Philippines
- India Bulls Power Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Port Waratah Coal Services - Australia
- Cement Manufacturers Association - India
- Georgia Ports Authority, United States
- Bank of Tokyo Mitsubishi UFJ Ltd
- Petron Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Renaissance Capital - South Africa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Rio Tinto Coal - Australia
- Leighton Contractors Pty Ltd - Australia
- Sical Logistics Limited - India
- Kapuas Tunggal Persada - Indonesia
- Ambuja Cements Ltd - India
- Borneo Indobara - Indonesia
- Energy Development Corp, Philippines
- Toyota Tsusho Corporation, Japan
- GAC Shipping (India) Pvt Ltd
- Edison Trading Spa - Italy
- Independent Power Producers Association of India
- Neyveli Lignite Corporation Ltd, - India
- Larsen & Toubro Limited - India
- Straits Asia Resources Limited - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Power Finance Corporation Ltd., India
- GVK Power & Infra Limited - India
- Ministry of Finance - Indonesia
- Bulk Trading Sa - Switzerland
- Australian Coal Association
- Gujarat Mineral Development Corp Ltd - India
- PNOC Exploration Corporation - Philippines
- Therma Luzon, Inc, Philippines
- Makarim & Taira - Indonesia
- Formosa Plastics Group - Taiwan
- Marubeni Corporation - India
- Anglo American - United Kingdom
- Malabar Cements Ltd - India
- Thai Mozambique Logistica
- Sojitz Corporation - Japan
- VISA Power Limited - India
- The State Trading Corporation of India Ltd
- Sree Jayajothi Cements Limited - India
- Parry Sugars Refinery, India
- Maheswari Brothers Coal Limited - India
- Singapore Mercantile Exchange
- Rashtriya Ispat Nigam Limited - India
- Mercuria Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Binh Thuan Hamico - Vietnam
- Kobexindo Tractors - Indoneisa
- Timah Investasi Mineral - Indoneisa
- OPG Power Generation Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Lanco Infratech Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Sinarmas Energy and Mining - Indonesia
- International Coal Ventures Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Bhatia International Limited - India
- Aditya Birla Group - India
- Global Business Power Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Iligan Light & Power Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Sarangani Energy Corporation, Philippines
- Carbofer General Trading SA - India
- Metalloyd Limited - United Kingdom
- Essar Steel Hazira Ltd - India
- Indogreen Group - Indonesia
- Kepco SPC Power Corporation, Philippines
- New Zealand Coal & Carbon
- Antam Resourcindo - Indonesia
- Thiess Contractors Indonesia
- Semirara Mining and Power Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Wilmar Investment Holdings
- GN Power Mariveles Coal Plant, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Deloitte Consulting - India
- Eastern Coal Council - USA
- Central Java Power - Indonesia
- European Bulk Services B.V. - Netherlands
- Merrill Lynch Commodities Europe
- Eastern Energy - Thailand
- Siam City Cement - Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sindya Power Generating Company Private Ltd
- Bhushan Steel Limited - India
- Vedanta Resources Plc - India
- IEA Clean Coal Centre - UK
- Posco Energy - South Korea
- Orica Australia Pty. Ltd.
- Heidelberg Cement - Germany
- Madhucon Powers Ltd - India
- Planning Commission, India
- Tata Chemicals Ltd - India
- PTC India Limited - India
- Coalindo Energy - Indonesia
- Videocon Industries ltd - India
- Altura Mining Limited, Indonesia
- Latin American Coal - Colombia
- Coastal Gujarat Power Limited - India
- Global Coal Blending Company Limited - Australia
- McConnell Dowell - Australia
- Meralco Power Generation, Philippines
- PowerSource Philippines DevCo
- Vizag Seaport Private Limited - India
- Xindia Steels Limited - India
- Africa Commodities Group - South Africa
- Bayan Resources Tbk. - Indonesia
- SN Aboitiz Power Inc, Philippines
- MS Steel International - UAE
- Ceylon Electricity Board - Sri Lanka
- ICICI Bank Limited - India
- CNBM International Corporation - China
- Orica Mining Services - Indonesia
- Semirara Mining Corp, Philippines
- Ind-Barath Power Infra Limited - India
- Star Paper Mills Limited - India
- Miang Besar Coal Terminal - Indonesia
- Sakthi Sugars Limited - India
- South Luzon Thermal Energy Corporation
- Savvy Resources Ltd - HongKong
- Mercator Lines Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Samtan Co., Ltd - South Korea
- Energy Link Ltd, New Zealand
- Standard Chartered Bank - UAE
- Ministry of Mines - Canada
- PetroVietnam Power Coal Import and Supply Company
- White Energy Company Limited
- Asmin Koalindo Tuhup - Indonesia
- Intertek Mineral Services - Indonesia
- Directorate Of Revenue Intelligence - India
- Bukit Makmur.PT - Indonesia
- Siam City Cement PLC, Thailand
- Economic Council, Georgia
- Uttam Galva Steels Limited - India
- Wood Mackenzie - Singapore
- Tamil Nadu electricity Board
- IHS Mccloskey Coal Group - USA
- Pendopo Energi Batubara - Indonesia
- Grasim Industreis Ltd - India
- Interocean Group of Companies - India
- Jindal Steel & Power Ltd - India
- Kaltim Prima Coal - Indonesia
- Central Electricity Authority - India
- Kartika Selabumi Mining - Indonesia
- Romanian Commodities Exchange
- AsiaOL BioFuels Corp., Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bukit Asam (Persero) Tbk - Indonesia
- Dalmia Cement Bharat India
- Price Waterhouse Coopers - Russia
- Petrochimia International Co. Ltd.- Taiwan
- Pipit Mutiara Jaya. PT, Indonesia
- Mintek Dendrill Indonesia
- Goldman Sachs - Singapore
- Globalindo Alam Lestari - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Coal and Oil Company - UAE
- London Commodity Brokers - England
- Vijayanagar Sugar Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Electricity Authority, New Zealand
- Kideco Jaya Agung - Indonesia
- Bharathi Cement Corporation - India
- CIMB Investment Bank - Malaysia
- SMG Consultants - Indonesia
- Chamber of Mines of South Africa
- Riau Bara Harum - Indonesia
- Bukit Baiduri Energy - Indonesia
- GMR Energy Limited - India
- Baramulti Group, Indonesia
- Barasentosa Lestari - Indonesia
- Mjunction Services Limited - India
- Indonesian Coal Mining Association
- Gujarat Sidhee Cement - India
- LBH Netherlands Bv - Netherlands
- Trasteel International SA, Italy
- Bangladesh Power Developement Board
- Indian Oil Corporation Limited
- The University of Queensland
- San Jose City I Power Corp, Philippines
- Holcim Trading Pte Ltd - Singapore
- Billiton Holdings Pty Ltd - Australia
- Banpu Public Company Limited - Thailand
- Cigading International Bulk Terminal - Indonesia
- Jaiprakash Power Ventures ltd
- Agrawal Coal Company - India
- TeaM Sual Corporation - Philippines
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