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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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Saturday, 08 January 11
AUSTRALIAN FLOODS MAY BOOST RIS COAL SALES - THE JAKARTA POST
The Jakarta Post reported that, Floods inundating Queensland have disrupted Australian coal production, and in turn may offer opportunities for Indo ...
Saturday, 08 January 11
GOVERNMENT REMAINS CAUTIOUS OVER FOREIGN INVESTMENT IN MINING SECTOR - THE JAKARTA GLOBE
The Jakarta Globe reported that, The government expects $3.2 billion of investment to flow into the mining sector this year as foreign investors tur ...
Friday, 07 January 11
14 LARGE-SCALE COAL BASES TO BE BUILT DURING 12TH FIVE-YEAR PLAN - GLOBAL TIMES
During the Twelfth Five-Year Plan period (2011-2015), China aims to build 14 large-scale coal bases, and annex and restructure 20 coal bases in orde ...
Friday, 07 January 11
JSW ENERGY LTD OF INDIA IS LOOKING FOR 45 MILLION TONS OF STEAM COAL FOR 25 YEARS
COALspot.com - Supply of 1.80 mmt (+/- 10%) of steam coal per annum for power plants at Toranagallu and Jaigad.
Accordign to JSWE's websit ...
Friday, 07 January 11
SRI LANKA NEW PORT TO OFFER SHIP FUEL IN MAY - LBO
LOB reported that, The Sri Lanka Ports Authority (SLPA) plans to start bunkering or ship fuel operations at a new port in southern Hambantota in May ...
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- SMG Consultants - Indonesia
- Georgia Ports Authority, United States
- Edison Trading Spa - Italy
- Ind-Barath Power Infra Limited - India
- Semirara Mining Corp, Philippines
- PNOC Exploration Corporation - Philippines
- Electricity Generating Authority of Thailand
- Standard Chartered Bank - UAE
- Grasim Industreis Ltd - India
- Bulk Trading Sa - Switzerland
- Kobexindo Tractors - Indoneisa
- Meralco Power Generation, Philippines
- Siam City Cement - Thailand
- Antam Resourcindo - Indonesia
- Merrill Lynch Commodities Europe
- European Bulk Services B.V. - Netherlands
- Global Coal Blending Company Limited - Australia
- Rio Tinto Coal - Australia
- Alfred C Toepfer International GmbH - Germany
- Iligan Light & Power Inc, Philippines
- Kaltim Prima Coal - Indonesia
- SMC Global Power, Philippines
- Agrawal Coal Company - India
- Therma Luzon, Inc, Philippines
- Mercator Lines Limited - India
- International Coal Ventures Pvt Ltd - India
- London Commodity Brokers - England
- The State Trading Corporation of India Ltd
- Bhoruka Overseas - Indonesia
- The Treasury - Australian Government
- Tata Chemicals Ltd - India
- Carbofer General Trading SA - India
- Karaikal Port Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Power Finance Corporation Ltd., India
- Latin American Coal - Colombia
- PowerSource Philippines DevCo
- Central Java Power - Indonesia
- Maheswari Brothers Coal Limited - India
- Ministry of Finance - Indonesia
- MS Steel International - UAE
- Trasteel International SA, Italy
- Bangladesh Power Developement Board
- Australian Coal Association
- Leighton Contractors Pty Ltd - Australia
- Ceylon Electricity Board - Sri Lanka
- Kepco SPC Power Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Coastal Gujarat Power Limited - India
- Price Waterhouse Coopers - Russia
- Bharathi Cement Corporation - India
- Minerals Council of Australia
- Attock Cement Pakistan Limited
- Port Waratah Coal Services - Australia
- Aboitiz Power Corporation - Philippines
- Australian Commodity Traders Exchange
- Kapuas Tunggal Persada - Indonesia
- Makarim & Taira - Indonesia
- Singapore Mercantile Exchange
- Commonwealth Bank - Australia
- Bhushan Steel Limited - India
- Miang Besar Coal Terminal - Indonesia
- Vedanta Resources Plc - India
- Banpu Public Company Limited - Thailand
- Chettinad Cement Corporation Ltd - India
- Videocon Industries ltd - India
- New Zealand Coal & Carbon
- Romanian Commodities Exchange
- Star Paper Mills Limited - India
- Sree Jayajothi Cements Limited - India
- Coal and Oil Company - UAE
- Pendopo Energi Batubara - Indonesia
- IHS Mccloskey Coal Group - USA
- Savvy Resources Ltd - HongKong
- Formosa Plastics Group - Taiwan
- IEA Clean Coal Centre - UK
- Anglo American - United Kingdom
- Ministry of Mines - Canada
- White Energy Company Limited
- PTC India Limited - India
- Cement Manufacturers Association - India
- Oldendorff Carriers - Singapore
- Intertek Mineral Services - Indonesia
- Meenaskhi Energy Private Limited - India
- Parry Sugars Refinery, India
- Petron Corporation, Philippines
- Central Electricity Authority - India
- Economic Council, Georgia
- Kideco Jaya Agung - Indonesia
- Marubeni Corporation - India
- Aditya Birla Group - India
- Essar Steel Hazira Ltd - India
- Wilmar Investment Holdings
- Posco Energy - South Korea
- Goldman Sachs - Singapore
- CNBM International Corporation - China
- Indogreen Group - Indonesia
- Chamber of Mines of South Africa
- Kohat Cement Company Ltd. - Pakistan
- Krishnapatnam Port Company Ltd. - India
- Bukit Asam (Persero) Tbk - Indonesia
- Jindal Steel & Power Ltd - India
- Globalindo Alam Lestari - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Sarangani Energy Corporation, Philippines
- CIMB Investment Bank - Malaysia
- PetroVietnam Power Coal Import and Supply Company
- Sindya Power Generating Company Private Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Mjunction Services Limited - India
- Gujarat Sidhee Cement - India
- Madhucon Powers Ltd - India
- Interocean Group of Companies - India
- Thai Mozambique Logistica
- The University of Queensland
- Independent Power Producers Association of India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Jaiprakash Power Ventures ltd
- Sojitz Corporation - Japan
- Orica Mining Services - Indonesia
- OPG Power Generation Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Indian Energy Exchange, India
- Petrochimia International Co. Ltd.- Taiwan
- Lanco Infratech Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- TeaM Sual Corporation - Philippines
- Sinarmas Energy and Mining - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Ministry of Transport, Egypt
- Indian Oil Corporation Limited
- Asmin Koalindo Tuhup - Indonesia
- Thiess Contractors Indonesia
- LBH Netherlands Bv - Netherlands
- Heidelberg Cement - Germany
- Mercuria Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Salva Resources Pvt Ltd - India
- Electricity Authority, New Zealand
- Indo Tambangraya Megah - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Straits Asia Resources Limited - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bukit Baiduri Energy - Indonesia
- Dalmia Cement Bharat India
- Larsen & Toubro Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Sakthi Sugars Limited - India
- Planning Commission, India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Parliament of New Zealand
- GMR Energy Limited - India
- Energy Development Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Barasentosa Lestari - Indonesia
- Uttam Galva Steels Limited - India
- Bayan Resources Tbk. - Indonesia
- GVK Power & Infra Limited - India
- Orica Australia Pty. Ltd.
- Pipit Mutiara Jaya. PT, Indonesia
- Manunggal Multi Energi - Indonesia
- Bhatia International Limited - India
- VISA Power Limited - India
- Ambuja Cements Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Simpson Spence & Young - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kumho Petrochemical, South Korea
- Jorong Barutama Greston.PT - Indonesia
- Indika Energy - Indonesia
- Wood Mackenzie - Singapore
- Siam City Cement PLC, Thailand
- McConnell Dowell - Australia
- Indonesian Coal Mining Association
- ICICI Bank Limited - India
- Binh Thuan Hamico - Vietnam
- Mintek Dendrill Indonesia
- Deloitte Consulting - India
- Karbindo Abesyapradhi - Indoneisa
- Malabar Cements Ltd - India
- Renaissance Capital - South Africa
- Directorate Of Revenue Intelligence - India
- TNB Fuel Sdn Bhd - Malaysia
- Vizag Seaport Private Limited - India
- Africa Commodities Group - South Africa
- India Bulls Power Limited - India
- Tamil Nadu electricity Board
- Cigading International Bulk Terminal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Offshore Bulk Terminal Pte Ltd, Singapore
- Coalindo Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- ASAPP Information Group - India
- Kartika Selabumi Mining - Indonesia
- Xindia Steels Limited - India
- San Jose City I Power Corp, Philippines
- Baramulti Group, Indonesia
- Global Green Power PLC Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Toyota Tsusho Corporation, Japan
- South Luzon Thermal Energy Corporation
- Medco Energi Mining Internasional
- Borneo Indobara - Indonesia
- Metalloyd Limited - United Kingdom
- Global Business Power Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Energy Link Ltd, New Zealand
- GAC Shipping (India) Pvt Ltd
- SN Aboitiz Power Inc, Philippines
- Eastern Coal Council - USA
- Eastern Energy - Thailand
- Sical Logistics Limited - India
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