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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, 07 January 11
DRY BULK MARKET ON A FREEFALL, AS THE NEW YEAR EARLY DAYS DONT BRING MANY CHEERS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market is facing its worst slump in more than two years, falling by 4.75% yesterday to reach 1,544 points, on top of an additional 4.2% ...
Thursday, 06 January 11
OVERSEAS & GENERAL SIGNS AGREEMENT TO EXPAND FOOTPRINT ON COAL LEASE IN INDONESIA - PROACTIVE INVESTORS
Proactive Investors reported that, Overseas & General (ASX: OGL) has entered into a joint operating agreement on the Jambi Coal Lease in Sumatra ...
Thursday, 06 January 11
BANPU EXPECTS ROSY 2011 AS COAL PRICES SKYROCKET - BANGKOK POST
Bangkok Post reported that, Banpu Plc, Asean's largest coal miner, expects minimal impact from the production stoppage at its Daning mine in China ...
Thursday, 06 January 11
COKING COAL CONTRACT PRICE MAY RISE 33% ON AUSTRALIAN FLOODS - BLOOMBERG
Bloomberg reported that, Steelmakers in Asia may be forced to pay as much as 33 percent more for hard coking coal after the worst floods in 50 years ...
Wednesday, 05 January 11
HIGHER COAL PRICES LIFT UP COAL STOCKS
Thermal coal price this month has gone up 5.63% to US$127.70 per ton today from mid last month at US$120.89 per ton.
Thermal coal price for next ...
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- Aditya Birla Group - India
- Kapuas Tunggal Persada - Indonesia
- Altura Mining Limited, Indonesia
- Electricity Generating Authority of Thailand
- Petron Corporation, Philippines
- Orica Mining Services - Indonesia
- Energy Link Ltd, New Zealand
- Holcim Trading Pte Ltd - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kaltim Prima Coal - Indonesia
- Manunggal Multi Energi - Indonesia
- Sindya Power Generating Company Private Ltd
- OPG Power Generation Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- CNBM International Corporation - China
- Karbindo Abesyapradhi - Indoneisa
- Latin American Coal - Colombia
- PNOC Exploration Corporation - Philippines
- SN Aboitiz Power Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Antam Resourcindo - Indonesia
- Posco Energy - South Korea
- The University of Queensland
- Bukit Baiduri Energy - Indonesia
- Sakthi Sugars Limited - India
- Georgia Ports Authority, United States
- Mjunction Services Limited - India
- Kobexindo Tractors - Indoneisa
- Sarangani Energy Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Australian Coal Association
- Semirara Mining Corp, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Tamil Nadu electricity Board
- Straits Asia Resources Limited - Singapore
- Mercuria Energy - Indonesia
- Independent Power Producers Association of India
- MS Steel International - UAE
- Merrill Lynch Commodities Europe
- Coal and Oil Company - UAE
- Sojitz Corporation - Japan
- Attock Cement Pakistan Limited
- Asmin Koalindo Tuhup - Indonesia
- CIMB Investment Bank - Malaysia
- PetroVietnam Power Coal Import and Supply Company
- Bharathi Cement Corporation - India
- Anglo American - United Kingdom
- Jaiprakash Power Ventures ltd
- Oldendorff Carriers - Singapore
- South Luzon Thermal Energy Corporation
- ICICI Bank Limited - India
- Sical Logistics Limited - India
- Thiess Contractors Indonesia
- Banpu Public Company Limited - Thailand
- Mercator Lines Limited - India
- International Coal Ventures Pvt Ltd - India
- Trasteel International SA, Italy
- Price Waterhouse Coopers - Russia
- Kideco Jaya Agung - Indonesia
- Rio Tinto Coal - Australia
- Samtan Co., Ltd - South Korea
- Vizag Seaport Private Limited - India
- The Treasury - Australian Government
- Coalindo Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Indian Oil Corporation Limited
- Sinarmas Energy and Mining - Indonesia
- Tata Chemicals Ltd - India
- Coastal Gujarat Power Limited - India
- Siam City Cement - Thailand
- Vedanta Resources Plc - India
- GN Power Mariveles Coal Plant, Philippines
- Aboitiz Power Corporation - Philippines
- Vijayanagar Sugar Pvt Ltd - India
- ASAPP Information Group - India
- Malabar Cements Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Essar Steel Hazira Ltd - India
- Uttam Galva Steels Limited - India
- Salva Resources Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Medco Energi Mining Internasional
- PowerSource Philippines DevCo
- Bayan Resources Tbk. - Indonesia
- Bhoruka Overseas - Indonesia
- Star Paper Mills Limited - India
- Gujarat Sidhee Cement - India
- Ministry of Transport, Egypt
- Globalindo Alam Lestari - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Electricity Authority, New Zealand
- Kalimantan Lumbung Energi - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Siam City Cement PLC, Thailand
- Ambuja Cements Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Australian Commodity Traders Exchange
- Global Business Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Indogreen Group - Indonesia
- Indika Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Central Java Power - Indonesia
- Sree Jayajothi Cements Limited - India
- AsiaOL BioFuels Corp., Philippines
- GMR Energy Limited - India
- Eastern Energy - Thailand
- Larsen & Toubro Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- The State Trading Corporation of India Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Xindia Steels Limited - India
- Intertek Mineral Services - Indonesia
- Bhushan Steel Limited - India
- India Bulls Power Limited - India
- London Commodity Brokers - England
- Iligan Light & Power Inc, Philippines
- Eastern Coal Council - USA
- Wilmar Investment Holdings
- Baramulti Group, Indonesia
- Africa Commodities Group - South Africa
- Videocon Industries ltd - India
- Toyota Tsusho Corporation, Japan
- Romanian Commodities Exchange
- Riau Bara Harum - Indonesia
- Ministry of Mines - Canada
- Mintek Dendrill Indonesia
- Orica Australia Pty. Ltd.
- Interocean Group of Companies - India
- IEA Clean Coal Centre - UK
- Lanco Infratech Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Rashtriya Ispat Nigam Limited - India
- Ministry of Finance - Indonesia
- Standard Chartered Bank - UAE
- Carbofer General Trading SA - India
- Energy Development Corp, Philippines
- LBH Netherlands Bv - Netherlands
- Central Electricity Authority - India
- Indian Energy Exchange, India
- Kohat Cement Company Ltd. - Pakistan
- New Zealand Coal & Carbon
- Planning Commission, India
- GAC Shipping (India) Pvt Ltd
- Commonwealth Bank - Australia
- White Energy Company Limited
- Madhucon Powers Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Grasim Industreis Ltd - India
- PTC India Limited - India
- Minerals Council of Australia
- Formosa Plastics Group - Taiwan
- Wood Mackenzie - Singapore
- Jindal Steel & Power Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- IHS Mccloskey Coal Group - USA
- Economic Council, Georgia
- Pendopo Energi Batubara - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Indo Tambangraya Megah - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Ind-Barath Power Infra Limited - India
- Borneo Indobara - Indonesia
- San Jose City I Power Corp, Philippines
- Edison Trading Spa - Italy
- Chettinad Cement Corporation Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- GVK Power & Infra Limited - India
- TeaM Sual Corporation - Philippines
- Parliament of New Zealand
- Dalmia Cement Bharat India
- Binh Thuan Hamico - Vietnam
- Cement Manufacturers Association - India
- Maheswari Brothers Coal Limited - India
- VISA Power Limited - India
- Metalloyd Limited - United Kingdom
- Therma Luzon, Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Karaikal Port Pvt Ltd - India
- Agrawal Coal Company - India
- Singapore Mercantile Exchange
- McConnell Dowell - Australia
- Bhatia International Limited - India
- SMG Consultants - Indonesia
- Timah Investasi Mineral - Indoneisa
- Barasentosa Lestari - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Renaissance Capital - South Africa
- Marubeni Corporation - India
- Global Green Power PLC Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Kepco SPC Power Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- SMC Global Power, Philippines
- Parry Sugars Refinery, India
- Meralco Power Generation, Philippines
- Meenaskhi Energy Private Limited - India
- Kumho Petrochemical, South Korea
- Bangladesh Power Developement Board
- Petrochimia International Co. Ltd.- Taiwan
- Power Finance Corporation Ltd., India
- Chamber of Mines of South Africa
- Heidelberg Cement - Germany
- Port Waratah Coal Services - Australia
- Neyveli Lignite Corporation Ltd, - India
- Ceylon Electricity Board - Sri Lanka
- Makarim & Taira - Indonesia
- Thai Mozambique Logistica
- Directorate Of Revenue Intelligence - India
- Indonesian Coal Mining Association
- Deloitte Consulting - India
- European Bulk Services B.V. - Netherlands
- Goldman Sachs - Singapore
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