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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, 13 December 10
NALCO TO START WORK ON RS 18K CR ($ 4,010,695,091) INDONESIAN PROJECT BY JUNE - MSN
MSN reported that, State-owned NALCO today said it has selected UAE-based RAK Minerals as JV partner for its Rs 18,000 crore (US$ 4,010,695,091 ...
Monday, 13 December 10
DEUTSCHE BANK RAISES COAL FORECASTS ON MARKET SHORTAGE - BLOOMBERG
Deutsche Bank AG raised price forecasts for thermal coal by as much as 17 percent on expectations that a shortage of the fuel will widen over the ne ...
Monday, 13 December 10
K SERA SERA TO SPEND RS325CR TO BUY COAL,OIL & GAS FIRMS STAKE - LIVE MINT
The company might have to dole out around Rs 225 crore (US$ 50,122,522) for picking up the majority stake in the coal mine in Indonesia and around R ...
Thursday, 09 December 10
OVERSUPPLY OF SHIPS BOUND TO KEEP DRY BULK FREIGHT RATES SUBDUED DURING 2011 SAYS BIMCO - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
An oversupply of vessels is expected to keep freight rates from flying as high as in recent years said a relative shipping report from BIMCO’s ...
Thursday, 09 December 10
INDONESIAN COAL PRICE REFERENCE REACHED US$ 103.41 PMT FOR DECEMBER DELIVERY
COALspot.com: The Directorate General of Mineral, Coal and Geothermal of Indonesia has been publishing a monthly coal price reference (HBA) since Fe ...
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- Oldendorff Carriers - Singapore
- Siam City Cement PLC, Thailand
- Mintek Dendrill Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Commonwealth Bank - Australia
- Aboitiz Power Corporation - Philippines
- Gujarat Sidhee Cement - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kepco SPC Power Corporation, Philippines
- Romanian Commodities Exchange
- Samtan Co., Ltd - South Korea
- Bhushan Steel Limited - India
- Straits Asia Resources Limited - Singapore
- Interocean Group of Companies - India
- Coal and Oil Company - UAE
- Price Waterhouse Coopers - Russia
- Heidelberg Cement - Germany
- Coalindo Energy - Indonesia
- IEA Clean Coal Centre - UK
- Orica Mining Services - Indonesia
- Economic Council, Georgia
- Altura Mining Limited, Indonesia
- Petron Corporation, Philippines
- Indogreen Group - Indonesia
- Independent Power Producers Association of India
- India Bulls Power Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PowerSource Philippines DevCo
- SMG Consultants - Indonesia
- Chettinad Cement Corporation Ltd - India
- SN Aboitiz Power Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- Wood Mackenzie - Singapore
- Parliament of New Zealand
- Africa Commodities Group - South Africa
- Manunggal Multi Energi - Indonesia
- Electricity Generating Authority of Thailand
- Kumho Petrochemical, South Korea
- Parry Sugars Refinery, India
- Global Green Power PLC Corporation, Philippines
- Baramulti Group, Indonesia
- Planning Commission, India
- Savvy Resources Ltd - HongKong
- Port Waratah Coal Services - Australia
- Energy Development Corp, Philippines
- Indian Energy Exchange, India
- The Treasury - Australian Government
- Bhatia International Limited - India
- New Zealand Coal & Carbon
- Merrill Lynch Commodities Europe
- Singapore Mercantile Exchange
- The University of Queensland
- Formosa Plastics Group - Taiwan
- Ambuja Cements Ltd - India
- Sical Logistics Limited - India
- Maheswari Brothers Coal Limited - India
- Star Paper Mills Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Thai Mozambique Logistica
- Posco Energy - South Korea
- Eastern Coal Council - USA
- Anglo American - United Kingdom
- Borneo Indobara - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Ind-Barath Power Infra Limited - India
- Siam City Cement - Thailand
- TeaM Sual Corporation - Philippines
- Globalindo Alam Lestari - Indonesia
- Central Electricity Authority - India
- Bukit Makmur.PT - Indonesia
- Georgia Ports Authority, United States
- GAC Shipping (India) Pvt Ltd
- Marubeni Corporation - India
- Chamber of Mines of South Africa
- GMR Energy Limited - India
- Madhucon Powers Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Bhoruka Overseas - Indonesia
- Agrawal Coal Company - India
- Timah Investasi Mineral - Indoneisa
- Energy Link Ltd, New Zealand
- SMC Global Power, Philippines
- Vedanta Resources Plc - India
- Simpson Spence & Young - Indonesia
- Attock Cement Pakistan Limited
- Ceylon Electricity Board - Sri Lanka
- Standard Chartered Bank - UAE
- Bukit Baiduri Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Karaikal Port Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Banpu Public Company Limited - Thailand
- Riau Bara Harum - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Central Java Power - Indonesia
- Uttam Galva Steels Limited - India
- Essar Steel Hazira Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Tamil Nadu electricity Board
- Aditya Birla Group - India
- International Coal Ventures Pvt Ltd - India
- Indian Oil Corporation Limited
- White Energy Company Limited
- Dalmia Cement Bharat India
- Kartika Selabumi Mining - Indonesia
- Minerals Council of Australia
- Global Business Power Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Carbofer General Trading SA - India
- Electricity Authority, New Zealand
- OPG Power Generation Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Vizag Seaport Private Limited - India
- Indonesian Coal Mining Association
- Eastern Energy - Thailand
- Malabar Cements Ltd - India
- Mercator Lines Limited - India
- Orica Australia Pty. Ltd.
- Kaltim Prima Coal - Indonesia
- Sojitz Corporation - Japan
- Jindal Steel & Power Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Sree Jayajothi Cements Limited - India
- Krishnapatnam Port Company Ltd. - India
- Leighton Contractors Pty Ltd - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Intertek Mineral Services - Indonesia
- Videocon Industries ltd - India
- Xindia Steels Limited - India
- Jaiprakash Power Ventures ltd
- GVK Power & Infra Limited - India
- Bayan Resources Tbk. - Indonesia
- Global Coal Blending Company Limited - Australia
- PNOC Exploration Corporation - Philippines
- Latin American Coal - Colombia
- Indika Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Larsen & Toubro Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Medco Energi Mining Internasional
- San Jose City I Power Corp, Philippines
- Kideco Jaya Agung - Indonesia
- Billiton Holdings Pty Ltd - Australia
- MS Steel International - UAE
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sarangani Energy Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Bangladesh Power Developement Board
- LBH Netherlands Bv - Netherlands
- Ministry of Finance - Indonesia
- Mjunction Services Limited - India
- Renaissance Capital - South Africa
- Bank of Tokyo Mitsubishi UFJ Ltd
- IHS Mccloskey Coal Group - USA
- GN Power Mariveles Coal Plant, Philippines
- Miang Besar Coal Terminal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Meralco Power Generation, Philippines
- South Luzon Thermal Energy Corporation
- Trasteel International SA, Italy
- Ministry of Transport, Egypt
- Barasentosa Lestari - Indonesia
- London Commodity Brokers - England
- Mercuria Energy - Indonesia
- Australian Commodity Traders Exchange
- CNBM International Corporation - China
- Power Finance Corporation Ltd., India
- Alfred C Toepfer International GmbH - Germany
- Meenaskhi Energy Private Limited - India
- Kapuas Tunggal Persada - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Therma Luzon, Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Thiess Contractors Indonesia
- Lanco Infratech Ltd - India
- Goldman Sachs - Singapore
- Australian Coal Association
- CIMB Investment Bank - Malaysia
- ASAPP Information Group - India
- Makarim & Taira - Indonesia
- Rio Tinto Coal - Australia
- Kobexindo Tractors - Indoneisa
- VISA Power Limited - India
- PTC India Limited - India
- Directorate Of Revenue Intelligence - India
- Bharathi Cement Corporation - India
- Rashtriya Ispat Nigam Limited - India
- Grasim Industreis Ltd - India
- Wilmar Investment Holdings
- Tata Chemicals Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Cement Manufacturers Association - India
- The State Trading Corporation of India Ltd
- Bulk Trading Sa - Switzerland
- Edison Trading Spa - Italy
- Salva Resources Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Antam Resourcindo - Indonesia
- McConnell Dowell - Australia
- Sakthi Sugars Limited - India
- PetroVietnam Power Coal Import and Supply Company
- ICICI Bank Limited - India
- Sindya Power Generating Company Private Ltd
- Gujarat Electricity Regulatory Commission - India
- Ministry of Mines - Canada
- Neyveli Lignite Corporation Ltd, - India
- Deloitte Consulting - India
- European Bulk Services B.V. - Netherlands
- Jorong Barutama Greston.PT - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Coastal Gujarat Power Limited - India
- Semirara Mining Corp, Philippines
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