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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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Tuesday, 21 December 10
CIL TOLD TO SCOUT MINES ABROAD TO BRIDGE COAL DEFICIT - ECONOMIC TIMES
Economic Times reported that, The government asked state-owned CIL to look for acquiring assets abroad to meet the domestic shortfall of coal.
&q ...
Tuesday, 21 December 10
SHIPPING INDUSTRY RECOVERING, BUT STILL HAMPERED BY OVERSUPPLY OF VESSELS AND DEPRESSED FREIGHT RATES - UNCTAD / HELLENIC SHIPPING
International seaborne trade contracted by 4.5 per cent in 2009, reports UNCTAD´s Review of Maritime Transport 2010 . That decline put seaborn ...
Sunday, 19 December 10
SPOT SUPRAMAX VESSELS WERE FIXED AROUND US$ 13,000 PER DAY FOR TRIP VIA INDONESIA TO INDIA - VISTAAR
COALspot.com - The freight market continued to be soft with the BDI down by 96 points and closed at 1,999 points, touching below 2,000 points on Fri ...
Friday, 17 December 10
THE PANAMAX MARKET HAS EXPERIENCED A SOFTER TENDENCY THIS WEEK - FEARNBULK
Handy
Monotonous Atlantic markets with little fresh enquiry in Black Sea/Med/Continent. Large Supras are achieving usd 21/22k for TA rounds - 2/3 ...
Friday, 17 December 10
NALCO SHORTLISTS COAL FIRMS FOR INDONESIA PROJECT - BUSINESS-STANDARD
Business-Standard reported that, State-owned NALCO today said it has shortlisted two firms for supply of coal for its Rs 18,000-crore (US$ 3,953,003 ...
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- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Attock Cement Pakistan Limited
- Port Waratah Coal Services - Australia
- Wood Mackenzie - Singapore
- Anglo American - United Kingdom
- Barasentosa Lestari - Indonesia
- Kobexindo Tractors - Indoneisa
- Semirara Mining Corp, Philippines
- Jindal Steel & Power Ltd - India
- Meralco Power Generation, Philippines
- Marubeni Corporation - India
- Bhushan Steel Limited - India
- Bhatia International Limited - India
- Electricity Generating Authority of Thailand
- GN Power Mariveles Coal Plant, Philippines
- Sojitz Corporation - Japan
- Aboitiz Power Corporation - Philippines
- Orica Australia Pty. Ltd.
- MS Steel International - UAE
- AsiaOL BioFuels Corp., Philippines
- Agrawal Coal Company - India
- Salva Resources Pvt Ltd - India
- Thai Mozambique Logistica
- Maharashtra Electricity Regulatory Commission - India
- Latin American Coal - Colombia
- Energy Link Ltd, New Zealand
- Siam City Cement - Thailand
- Australian Coal Association
- Antam Resourcindo - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Vizag Seaport Private Limited - India
- Neyveli Lignite Corporation Ltd, - India
- TNB Fuel Sdn Bhd - Malaysia
- ASAPP Information Group - India
- Uttam Galva Steels Limited - India
- Ministry of Finance - Indonesia
- Thiess Contractors Indonesia
- Sarangani Energy Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Meenaskhi Energy Private Limited - India
- PNOC Exploration Corporation - Philippines
- Bharathi Cement Corporation - India
- Electricity Authority, New Zealand
- Indogreen Group - Indonesia
- Simpson Spence & Young - Indonesia
- Iligan Light & Power Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Coalindo Energy - Indonesia
- Coal and Oil Company - UAE
- Minerals Council of Australia
- Mjunction Services Limited - India
- Bukit Makmur.PT - Indonesia
- Ministry of Transport, Egypt
- Metalloyd Limited - United Kingdom
- Indian Energy Exchange, India
- Therma Luzon, Inc, Philippines
- Heidelberg Cement - Germany
- Indonesian Coal Mining Association
- Aditya Birla Group - India
- The Treasury - Australian Government
- Karaikal Port Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Standard Chartered Bank - UAE
- Deloitte Consulting - India
- Ministry of Mines - Canada
- Leighton Contractors Pty Ltd - Australia
- Malabar Cements Ltd - India
- Star Paper Mills Limited - India
- Jaiprakash Power Ventures ltd
- Carbofer General Trading SA - India
- PetroVietnam Power Coal Import and Supply Company
- Kumho Petrochemical, South Korea
- Globalindo Alam Lestari - Indonesia
- SMG Consultants - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Timah Investasi Mineral - Indoneisa
- London Commodity Brokers - England
- Bank of Tokyo Mitsubishi UFJ Ltd
- European Bulk Services B.V. - Netherlands
- Madhucon Powers Ltd - India
- Rashtriya Ispat Nigam Limited - India
- TeaM Sual Corporation - Philippines
- Indian Oil Corporation Limited
- PTC India Limited - India
- Chamber of Mines of South Africa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Tata Chemicals Ltd - India
- Holcim Trading Pte Ltd - Singapore
- South Luzon Thermal Energy Corporation
- Essar Steel Hazira Ltd - India
- Kideco Jaya Agung - Indonesia
- Romanian Commodities Exchange
- Siam City Cement PLC, Thailand
- ICICI Bank Limited - India
- Renaissance Capital - South Africa
- Dalmia Cement Bharat India
- Bulk Trading Sa - Switzerland
- San Jose City I Power Corp, Philippines
- Vedanta Resources Plc - India
- Bahari Cakrawala Sebuku - Indonesia
- Bayan Resources Tbk. - Indonesia
- Larsen & Toubro Limited - India
- Power Finance Corporation Ltd., India
- Price Waterhouse Coopers - Russia
- McConnell Dowell - Australia
- Directorate General of MIneral and Coal - Indonesia
- Australian Commodity Traders Exchange
- Gujarat Electricity Regulatory Commission - India
- Trasteel International SA, Italy
- Sree Jayajothi Cements Limited - India
- IHS Mccloskey Coal Group - USA
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- CIMB Investment Bank - Malaysia
- Baramulti Group, Indonesia
- Formosa Plastics Group - Taiwan
- Kartika Selabumi Mining - Indonesia
- Borneo Indobara - Indonesia
- Oldendorff Carriers - Singapore
- Independent Power Producers Association of India
- Sakthi Sugars Limited - India
- Semirara Mining and Power Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Kohat Cement Company Ltd. - Pakistan
- Goldman Sachs - Singapore
- Africa Commodities Group - South Africa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- White Energy Company Limited
- Planning Commission, India
- Grasim Industreis Ltd - India
- New Zealand Coal & Carbon
- Global Coal Blending Company Limited - Australia
- SMC Global Power, Philippines
- Bhoruka Overseas - Indonesia
- Riau Bara Harum - Indonesia
- Medco Energi Mining Internasional
- Sindya Power Generating Company Private Ltd
- Parry Sugars Refinery, India
- Binh Thuan Hamico - Vietnam
- Offshore Bulk Terminal Pte Ltd, Singapore
- Global Business Power Corporation, Philippines
- Altura Mining Limited, Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Chettinad Cement Corporation Ltd - India
- Pendopo Energi Batubara - Indonesia
- Singapore Mercantile Exchange
- Samtan Co., Ltd - South Korea
- Commonwealth Bank - Australia
- Parliament of New Zealand
- Cigading International Bulk Terminal - Indonesia
- Ambuja Cements Ltd - India
- Straits Asia Resources Limited - Singapore
- Alfred C Toepfer International GmbH - Germany
- Pipit Mutiara Jaya. PT, Indonesia
- VISA Power Limited - India
- Cement Manufacturers Association - India
- Toyota Tsusho Corporation, Japan
- Mercator Lines Limited - India
- Makarim & Taira - Indonesia
- LBH Netherlands Bv - Netherlands
- GMR Energy Limited - India
- Economic Council, Georgia
- Global Green Power PLC Corporation, Philippines
- Orica Mining Services - Indonesia
- Eastern Coal Council - USA
- Posco Energy - South Korea
- Energy Development Corp, Philippines
- SN Aboitiz Power Inc, Philippines
- PowerSource Philippines DevCo
- Miang Besar Coal Terminal - Indonesia
- Georgia Ports Authority, United States
- Bukit Asam (Persero) Tbk - Indonesia
- Mintek Dendrill Indonesia
- Maheswari Brothers Coal Limited - India
- Billiton Holdings Pty Ltd - Australia
- Mercuria Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Indo Tambangraya Megah - Indonesia
- International Coal Ventures Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Videocon Industries ltd - India
- Kepco SPC Power Corporation, Philippines
- Interocean Group of Companies - India
- Asmin Koalindo Tuhup - Indonesia
- Merrill Lynch Commodities Europe
- Eastern Energy - Thailand
- GVK Power & Infra Limited - India
- Manunggal Multi Energi - Indonesia
- Gujarat Sidhee Cement - India
- India Bulls Power Limited - India
- The State Trading Corporation of India Ltd
- Indika Energy - Indonesia
- Wilmar Investment Holdings
- Rio Tinto Coal - Australia
- Ind-Barath Power Infra Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Banpu Public Company Limited - Thailand
- Lanco Infratech Ltd - India
- Central Electricity Authority - India
- Petrochimia International Co. Ltd.- Taiwan
- Sical Logistics Limited - India
- Petron Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Central Java Power - Indonesia
- Tamil Nadu electricity Board
- Savvy Resources Ltd - HongKong
- OPG Power Generation Pvt Ltd - India
- Xindia Steels Limited - India
- Intertek Mineral Services - Indonesia
- CNBM International Corporation - China
- Edison Trading Spa - Italy
- The University of Queensland
- Bukit Baiduri Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Bangladesh Power Developement Board
- IEA Clean Coal Centre - UK
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