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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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Wednesday, 05 January 11
BUKIT ASAM TARGETS 20% BUY TO GROW COAL TRANSPORT CAPACITY - THE JAKARTA GLOBE
The Jakarta Globe reported that, Indonesian coal producer Tambang Batubara Bukit Asam is considering buying an additional 20 percent stake in Bukit ...
Wednesday, 05 January 11
FLOODING IN AUSTRALIA WILL CAUSE COAL PRICES TO SPIKE AT LEAST 20 PERCENT
Rising coal prices are set to spike at least 20 per cent higher because of supply shortages due to severe flooding in Australia, adding cost pressur ...
Wednesday, 05 January 11
DRY BULK MARKET BEGINS NEW YEAR ON SOUR NOTE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Seasonal factors like the worst flooding in Australia’s Queensland in half a century, coupled with thin trade activity has put the dry bulk ma ...
Tuesday, 04 January 11
THE WCI-CHINA ROUTE WAS TRADED IN THE MID US$ 10,000S - BRS DRY BULK
As reported by BRS Dry Bulk, after a stronger than expected performance in 2010, rates finished on a sombre note in December with the BDI at1,773 po ...
Tuesday, 04 January 11
BALI, INDONESIA HOST OF WORLD RENEWABLE ENERGY AND ENERGY EFFICIENCY CONFERENCE
Press Release - Indonesian Renewable Energy Society (METI – IRES) has launched the plan for organizing the international gathering ...
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- VISA Power Limited - India
- TeaM Sual Corporation - Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Videocon Industries ltd - India
- SN Aboitiz Power Inc, Philippines
- Kumho Petrochemical, South Korea
- Heidelberg Cement - Germany
- Vedanta Resources Plc - India
- Semirara Mining Corp, Philippines
- CIMB Investment Bank - Malaysia
- San Jose City I Power Corp, Philippines
- Global Green Power PLC Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Borneo Indobara - Indonesia
- Kepco SPC Power Corporation, Philippines
- Tamil Nadu electricity Board
- India Bulls Power Limited - India
- Goldman Sachs - Singapore
- Independent Power Producers Association of India
- GN Power Mariveles Coal Plant, Philippines
- European Bulk Services B.V. - Netherlands
- Indian Energy Exchange, India
- Parry Sugars Refinery, India
- Iligan Light & Power Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- GVK Power & Infra Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indogreen Group - Indonesia
- Straits Asia Resources Limited - Singapore
- MS Steel International - UAE
- Australian Coal Association
- Interocean Group of Companies - India
- Orica Mining Services - Indonesia
- McConnell Dowell - Australia
- Kartika Selabumi Mining - Indonesia
- OPG Power Generation Pvt Ltd - India
- Ministry of Transport, Egypt
- Cigading International Bulk Terminal - Indonesia
- Siam City Cement - Thailand
- Indonesian Coal Mining Association
- Timah Investasi Mineral - Indoneisa
- AsiaOL BioFuels Corp., Philippines
- Jorong Barutama Greston.PT - Indonesia
- ASAPP Information Group - India
- Marubeni Corporation - India
- Ind-Barath Power Infra Limited - India
- Mercuria Energy - Indonesia
- Wood Mackenzie - Singapore
- Sakthi Sugars Limited - India
- Attock Cement Pakistan Limited
- Makarim & Taira - Indonesia
- GAC Shipping (India) Pvt Ltd
- Sojitz Corporation - Japan
- Latin American Coal - Colombia
- Central Electricity Authority - India
- The University of Queensland
- Sarangani Energy Corporation, Philippines
- Wilmar Investment Holdings
- Merrill Lynch Commodities Europe
- Ministry of Finance - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- GMR Energy Limited - India
- Directorate Of Revenue Intelligence - India
- Indian Oil Corporation Limited
- Romanian Commodities Exchange
- Mercator Lines Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Economic Council, Georgia
- Malabar Cements Ltd - India
- Banpu Public Company Limited - Thailand
- Neyveli Lignite Corporation Ltd, - India
- Kideco Jaya Agung - Indonesia
- Australian Commodity Traders Exchange
- Samtan Co., Ltd - South Korea
- Gujarat Sidhee Cement - India
- Sree Jayajothi Cements Limited - India
- Thiess Contractors Indonesia
- Rio Tinto Coal - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Bhatia International Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Xindia Steels Limited - India
- Savvy Resources Ltd - HongKong
- New Zealand Coal & Carbon
- Toyota Tsusho Corporation, Japan
- CNBM International Corporation - China
- Bukit Baiduri Energy - Indonesia
- Coalindo Energy - Indonesia
- PowerSource Philippines DevCo
- Meralco Power Generation, Philippines
- Bharathi Cement Corporation - India
- Uttam Galva Steels Limited - India
- LBH Netherlands Bv - Netherlands
- Tata Chemicals Ltd - India
- Medco Energi Mining Internasional
- Renaissance Capital - South Africa
- Altura Mining Limited, Indonesia
- Metalloyd Limited - United Kingdom
- Price Waterhouse Coopers - Russia
- Grasim Industreis Ltd - India
- Ministry of Mines - Canada
- Agrawal Coal Company - India
- SMG Consultants - Indonesia
- Energy Development Corp, Philippines
- Mjunction Services Limited - India
- Globalindo Alam Lestari - Indonesia
- Therma Luzon, Inc, Philippines
- Kobexindo Tractors - Indoneisa
- International Coal Ventures Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Indo Tambangraya Megah - Indonesia
- SMC Global Power, Philippines
- PTC India Limited - India
- Minerals Council of Australia
- Georgia Ports Authority, United States
- Sical Logistics Limited - India
- Posco Energy - South Korea
- South Luzon Thermal Energy Corporation
- Riau Bara Harum - Indonesia
- Chamber of Mines of South Africa
- Parliament of New Zealand
- Global Coal Blending Company Limited - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Siam City Cement PLC, Thailand
- Orica Australia Pty. Ltd.
- Bhoruka Overseas - Indonesia
- Karaikal Port Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Rashtriya Ispat Nigam Limited - India
- Mintek Dendrill Indonesia
- Jindal Steel & Power Ltd - India
- The Treasury - Australian Government
- Billiton Holdings Pty Ltd - Australia
- Deloitte Consulting - India
- Miang Besar Coal Terminal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Ambuja Cements Ltd - India
- Maheswari Brothers Coal Limited - India
- Dalmia Cement Bharat India
- London Commodity Brokers - England
- Sinarmas Energy and Mining - Indonesia
- PNOC Exploration Corporation - Philippines
- Larsen & Toubro Limited - India
- Alfred C Toepfer International GmbH - Germany
- Coal and Oil Company - UAE
- Cement Manufacturers Association - India
- Kapuas Tunggal Persada - Indonesia
- Indika Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- ICICI Bank Limited - India
- Electricity Generating Authority of Thailand
- Bukit Makmur.PT - Indonesia
- Thai Mozambique Logistica
- Bhushan Steel Limited - India
- Oldendorff Carriers - Singapore
- Krishnapatnam Port Company Ltd. - India
- Eastern Coal Council - USA
- Planning Commission, India
- Antam Resourcindo - Indonesia
- Star Paper Mills Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Pendopo Energi Batubara - Indonesia
- Baramulti Group, Indonesia
- Binh Thuan Hamico - Vietnam
- Electricity Authority, New Zealand
- Gujarat Electricity Regulatory Commission - India
- Intertek Mineral Services - Indonesia
- Power Finance Corporation Ltd., India
- Essar Steel Hazira Ltd - India
- Bulk Trading Sa - Switzerland
- Eastern Energy - Thailand
- Edison Trading Spa - Italy
- Central Java Power - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- White Energy Company Limited
- Africa Commodities Group - South Africa
- Trasteel International SA, Italy
- Kohat Cement Company Ltd. - Pakistan
- Port Waratah Coal Services - Australia
- Petron Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Maharashtra Electricity Regulatory Commission - India
- Salva Resources Pvt Ltd - India
- Singapore Mercantile Exchange
- Standard Chartered Bank - UAE
- Meenaskhi Energy Private Limited - India
- Coastal Gujarat Power Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Chettinad Cement Corporation Ltd - India
- Jaiprakash Power Ventures ltd
- Global Business Power Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Commonwealth Bank - Australia
- Manunggal Multi Energi - Indonesia
- Aditya Birla Group - India
- Sindya Power Generating Company Private Ltd
- Asmin Koalindo Tuhup - Indonesia
- IEA Clean Coal Centre - UK
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bayan Resources Tbk. - Indonesia
- Madhucon Powers Ltd - India
- Lanco Infratech Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Barasentosa Lestari - Indonesia
- IHS Mccloskey Coal Group - USA
- Carbofer General Trading SA - India
- Energy Link Ltd, New Zealand
- Simpson Spence & Young - Indonesia
- Bangladesh Power Developement Board
- Holcim Trading Pte Ltd - Singapore
- Anglo American - United Kingdom
- Vizag Seaport Private Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
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