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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, 10 January 11
DEWA SEEKS ADVICE ON COAL POWER PROJECT -THE NATIONAL
The Dubai utility company gets nine bids from international groups for consultancy role.
The National reported that, Dubai's utility company wil ...
Saturday, 08 January 11
COAL PRICE WILL RISE IN SHORT-TERM DUE TO AUSTRALIA FLOODS - ALBUQUERQUE EXPRESS
Albuquerque Express reported that, Queensland’s mining minister, Stephen Robertson, has warned that the Australian state’s coal mines wi ...
Saturday, 08 January 11
THE INDONESIAN COAL REFERENCE PRICE HAS JUMPED 8.69 PERCENT IN JANUARY 2011
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Saturday, 08 January 11
SUPRAMAX VESSELS WERE FIXED AT AROUND $ 9000 PD FOR A TRIP VIA INDONESIA TO INDIA - VISTAAR
COALspot.com - The holiday season affect combined with severe flooding in Queensland ports continues to keep the market and pressure. “Suprama ...
Saturday, 08 January 11
DIFFICULT YEAR FOR SHIPPING - TRANSPORT WEEKLY
Transport Weekly reported that, Shipping Corporation of India (SCI) chairman Sabyasachi Hajara says 2011 will be a difficult year because an excess ...
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- Asia Pacific Energy Resources Ventures Inc, Philippines
- SMC Global Power, Philippines
- Ministry of Transport, Egypt
- Bahari Cakrawala Sebuku - Indonesia
- Port Waratah Coal Services - Australia
- Toyota Tsusho Corporation, Japan
- Iligan Light & Power Inc, Philippines
- Energy Link Ltd, New Zealand
- Coalindo Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- CNBM International Corporation - China
- Savvy Resources Ltd - HongKong
- Gujarat Mineral Development Corp Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Bhatia International Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Price Waterhouse Coopers - Russia
- Billiton Holdings Pty Ltd - Australia
- Central Java Power - Indonesia
- Salva Resources Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Deloitte Consulting - India
- Asmin Koalindo Tuhup - Indonesia
- Karaikal Port Pvt Ltd - India
- Attock Cement Pakistan Limited
- Orica Mining Services - Indonesia
- Mintek Dendrill Indonesia
- Kapuas Tunggal Persada - Indonesia
- Straits Asia Resources Limited - Singapore
- GMR Energy Limited - India
- TeaM Sual Corporation - Philippines
- Ind-Barath Power Infra Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Antam Resourcindo - Indonesia
- Coastal Gujarat Power Limited - India
- Trasteel International SA, Italy
- Globalindo Alam Lestari - Indonesia
- MS Steel International - UAE
- Kaltim Prima Coal - Indonesia
- India Bulls Power Limited - India
- Romanian Commodities Exchange
- Gujarat Electricity Regulatory Commission - India
- Karbindo Abesyapradhi - Indoneisa
- GVK Power & Infra Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Coal and Oil Company - UAE
- Binh Thuan Hamico - Vietnam
- Mercuria Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Marubeni Corporation - India
- Malabar Cements Ltd - India
- Banpu Public Company Limited - Thailand
- Alfred C Toepfer International GmbH - Germany
- Orica Australia Pty. Ltd.
- Wilmar Investment Holdings
- Bukit Asam (Persero) Tbk - Indonesia
- Indogreen Group - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Barasentosa Lestari - Indonesia
- Australian Commodity Traders Exchange
- Bhushan Steel Limited - India
- Krishnapatnam Port Company Ltd. - India
- Pipit Mutiara Jaya. PT, Indonesia
- Dalmia Cement Bharat India
- Bukit Makmur.PT - Indonesia
- Chamber of Mines of South Africa
- Eastern Energy - Thailand
- Medco Energi Mining Internasional
- Neyveli Lignite Corporation Ltd, - India
- Star Paper Mills Limited - India
- Gujarat Sidhee Cement - India
- New Zealand Coal & Carbon
- Baramulti Group, Indonesia
- PTC India Limited - India
- Manunggal Multi Energi - Indonesia
- Heidelberg Cement - Germany
- SN Aboitiz Power Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Leighton Contractors Pty Ltd - Australia
- Oldendorff Carriers - Singapore
- Simpson Spence & Young - Indonesia
- Rio Tinto Coal - Australia
- Global Green Power PLC Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Thiess Contractors Indonesia
- Bharathi Cement Corporation - India
- Goldman Sachs - Singapore
- Semirara Mining Corp, Philippines
- Ministry of Mines - Canada
- Rashtriya Ispat Nigam Limited - India
- Parliament of New Zealand
- Directorate General of MIneral and Coal - Indonesia
- South Luzon Thermal Energy Corporation
- VISA Power Limited - India
- Anglo American - United Kingdom
- European Bulk Services B.V. - Netherlands
- Minerals Council of Australia
- Bukit Baiduri Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Intertek Mineral Services - Indonesia
- Lanco Infratech Ltd - India
- OPG Power Generation Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Essar Steel Hazira Ltd - India
- Xindia Steels Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Singapore Mercantile Exchange
- Power Finance Corporation Ltd., India
- Metalloyd Limited - United Kingdom
- Bayan Resources Tbk. - Indonesia
- Sree Jayajothi Cements Limited - India
- Videocon Industries ltd - India
- Electricity Generating Authority of Thailand
- Ministry of Finance - Indonesia
- GAC Shipping (India) Pvt Ltd
- Carbofer General Trading SA - India
- Kepco SPC Power Corporation, Philippines
- Latin American Coal - Colombia
- Therma Luzon, Inc, Philippines
- Siam City Cement PLC, Thailand
- Indonesian Coal Mining Association
- Edison Trading Spa - Italy
- Bulk Trading Sa - Switzerland
- PowerSource Philippines DevCo
- Chettinad Cement Corporation Ltd - India
- London Commodity Brokers - England
- Jaiprakash Power Ventures ltd
- SMG Consultants - Indonesia
- Vizag Seaport Private Limited - India
- Ambuja Cements Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Meralco Power Generation, Philippines
- White Energy Company Limited
- Renaissance Capital - South Africa
- Eastern Coal Council - USA
- Merrill Lynch Commodities Europe
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PNOC Exploration Corporation - Philippines
- Grasim Industreis Ltd - India
- ASAPP Information Group - India
- Riau Bara Harum - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Madhucon Powers Ltd - India
- Bangladesh Power Developement Board
- Jindal Steel & Power Ltd - India
- Borneo Indobara - Indonesia
- Kartika Selabumi Mining - Indonesia
- Maheswari Brothers Coal Limited - India
- Samtan Co., Ltd - South Korea
- Indika Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Cigading International Bulk Terminal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Electricity Authority, New Zealand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Cement Manufacturers Association - India
- McConnell Dowell - Australia
- Australian Coal Association
- Indian Energy Exchange, India
- Sindya Power Generating Company Private Ltd
- Petron Corporation, Philippines
- The State Trading Corporation of India Ltd
- Wood Mackenzie - Singapore
- LBH Netherlands Bv - Netherlands
- Tamil Nadu electricity Board
- Vedanta Resources Plc - India
- Holcim Trading Pte Ltd - Singapore
- Sical Logistics Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Uttam Galva Steels Limited - India
- Sarangani Energy Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Indian Oil Corporation Limited
- Parry Sugars Refinery, India
- San Jose City I Power Corp, Philippines
- Standard Chartered Bank - UAE
- Commonwealth Bank - Australia
- Mercator Lines Limited - India
- Independent Power Producers Association of India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Larsen & Toubro Limited - India
- The University of Queensland
- Kideco Jaya Agung - Indonesia
- Mjunction Services Limited - India
- Siam City Cement - Thailand
- Energy Development Corp, Philippines
- IHS Mccloskey Coal Group - USA
- Indo Tambangraya Megah - Indonesia
- Altura Mining Limited, Indonesia
- Makarim & Taira - Indonesia
- Georgia Ports Authority, United States
- Global Business Power Corporation, Philippines
- Agrawal Coal Company - India
- Kumho Petrochemical, South Korea
- Economic Council, Georgia
- Posco Energy - South Korea
- Interocean Group of Companies - India
- CIMB Investment Bank - Malaysia
- Thai Mozambique Logistica
- The Treasury - Australian Government
- Global Coal Blending Company Limited - Australia
- Tata Chemicals Ltd - India
- IEA Clean Coal Centre - UK
- Sakthi Sugars Limited - India
- Sojitz Corporation - Japan
- Planning Commission, India
- Africa Commodities Group - South Africa
- Aditya Birla Group - India
- Central Electricity Authority - India
- ICICI Bank Limited - India
- Aboitiz Power Corporation - Philippines
- Kobexindo Tractors - Indoneisa
- Meenaskhi Energy Private Limited - India
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