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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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Thursday, 02 December 10
INDIA'S COAL SHORTAGE TO DEEPEN NEXT YEAR - MONEY CONTROL
Money Control reported that, India's coal deficit will deepen sharply next year, its coal minister said on Tuesday, forcing Asia's third largest e ...
Thursday, 02 December 10
CIL INCHES CLOSER TO PEABODY STAKE DEAL - THE TELEGRAPH INDIA
The Telegraph India reported that, state-run Coal India Ltd (CIL) hopes to complete negotiations to buy over 10 per cent in Australian miner Peabody ...
Thursday, 02 December 10
DRY BULK MARKET WEIGHED DOWN BY CAPESIZE BLUES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The negative sentiment currently undergoing in the capesize market has kept the dry bulk market’s benchmark, the Baltic Dry Index (BDI) on the ...
Monday, 29 November 10
NUCLEAR SUPERTANKERS TO SHAKE UP SHIPPING - THIS IS MONEY
This is money reported that, plans are under way that could see nuclear-powered supertankers sailing the world’s shipping lanes, refuelling on ...
Sunday, 28 November 10
FREIGHT MARKET SEEMS TO BE NERVOUS - VISTAAR
COALspot.com - The freight market continued to remain uncertain even though only cape index was down by 8.31 pct.
Overall the market seems to be ...
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- Kohat Cement Company Ltd. - Pakistan
- PetroVietnam Power Coal Import and Supply Company
- White Energy Company Limited
- Posco Energy - South Korea
- Ministry of Transport, Egypt
- McConnell Dowell - Australia
- Singapore Mercantile Exchange
- Australian Commodity Traders Exchange
- Uttam Galva Steels Limited - India
- Mjunction Services Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Mercuria Energy - Indonesia
- Gujarat Sidhee Cement - India
- VISA Power Limited - India
- Barasentosa Lestari - Indonesia
- CIMB Investment Bank - Malaysia
- Australian Coal Association
- Parliament of New Zealand
- Global Coal Blending Company Limited - Australia
- Planning Commission, India
- Samtan Co., Ltd - South Korea
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Neyveli Lignite Corporation Ltd, - India
- Tata Chemicals Ltd - India
- Altura Mining Limited, Indonesia
- Heidelberg Cement - Germany
- Billiton Holdings Pty Ltd - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Karbindo Abesyapradhi - Indoneisa
- Central Java Power - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Cement Manufacturers Association - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Anglo American - United Kingdom
- Kideco Jaya Agung - Indonesia
- Makarim & Taira - Indonesia
- Timah Investasi Mineral - Indoneisa
- Bangladesh Power Developement Board
- Medco Energi Mining Internasional
- Bahari Cakrawala Sebuku - Indonesia
- Georgia Ports Authority, United States
- Electricity Authority, New Zealand
- Star Paper Mills Limited - India
- Bukit Makmur.PT - Indonesia
- Salva Resources Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Jindal Steel & Power Ltd - India
- Ind-Barath Power Infra Limited - India
- Jaiprakash Power Ventures ltd
- Meralco Power Generation, Philippines
- Meenaskhi Energy Private Limited - India
- Globalindo Alam Lestari - Indonesia
- AsiaOL BioFuels Corp., Philippines
- New Zealand Coal & Carbon
- Economic Council, Georgia
- Energy Development Corp, Philippines
- Grasim Industreis Ltd - India
- PTC India Limited - India
- Bharathi Cement Corporation - India
- TeaM Sual Corporation - Philippines
- Antam Resourcindo - Indonesia
- Toyota Tsusho Corporation, Japan
- Malabar Cements Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Indo Tambangraya Megah - Indonesia
- LBH Netherlands Bv - Netherlands
- MS Steel International - UAE
- SMG Consultants - Indonesia
- Savvy Resources Ltd - HongKong
- Bayan Resources Tbk. - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Indian Oil Corporation Limited
- Renaissance Capital - South Africa
- Riau Bara Harum - Indonesia
- Bhoruka Overseas - Indonesia
- Pendopo Energi Batubara - Indonesia
- Latin American Coal - Colombia
- London Commodity Brokers - England
- Petron Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- European Bulk Services B.V. - Netherlands
- ICICI Bank Limited - India
- Indonesian Coal Mining Association
- Coastal Gujarat Power Limited - India
- Attock Cement Pakistan Limited
- Baramulti Group, Indonesia
- Sree Jayajothi Cements Limited - India
- Aditya Birla Group - India
- Oldendorff Carriers - Singapore
- Eastern Coal Council - USA
- GVK Power & Infra Limited - India
- Metalloyd Limited - United Kingdom
- Kalimantan Lumbung Energi - Indonesia
- Carbofer General Trading SA - India
- Eastern Energy - Thailand
- CNBM International Corporation - China
- Leighton Contractors Pty Ltd - Australia
- PNOC Exploration Corporation - Philippines
- Holcim Trading Pte Ltd - Singapore
- Electricity Generating Authority of Thailand
- Kaltim Prima Coal - Indonesia
- Xindia Steels Limited - India
- Sinarmas Energy and Mining - Indonesia
- The Treasury - Australian Government
- Tamil Nadu electricity Board
- Kepco SPC Power Corporation, Philippines
- Commonwealth Bank - Australia
- Chettinad Cement Corporation Ltd - India
- Manunggal Multi Energi - Indonesia
- Bukit Baiduri Energy - Indonesia
- Ministry of Finance - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Energy Link Ltd, New Zealand
- Orica Australia Pty. Ltd.
- The University of Queensland
- Mercator Lines Limited - India
- Sojitz Corporation - Japan
- Indian Energy Exchange, India
- South Luzon Thermal Energy Corporation
- Wood Mackenzie - Singapore
- Therma Luzon, Inc, Philippines
- Deloitte Consulting - India
- Lanco Infratech Ltd - India
- Mintek Dendrill Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Formosa Plastics Group - Taiwan
- Intertek Mineral Services - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Madhucon Powers Ltd - India
- Chamber of Mines of South Africa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Gujarat Electricity Regulatory Commission - India
- SMC Global Power, Philippines
- India Bulls Power Limited - India
- Ministry of Mines - Canada
- Bhatia International Limited - India
- Karaikal Port Pvt Ltd - India
- Minerals Council of Australia
- Thiess Contractors Indonesia
- Simpson Spence & Young - Indonesia
- Indogreen Group - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- GMR Energy Limited - India
- Rio Tinto Coal - Australia
- Interocean Group of Companies - India
- Parry Sugars Refinery, India
- The State Trading Corporation of India Ltd
- ASAPP Information Group - India
- Power Finance Corporation Ltd., India
- Wilmar Investment Holdings
- Directorate General of MIneral and Coal - Indonesia
- Siam City Cement PLC, Thailand
- Rashtriya Ispat Nigam Limited - India
- Banpu Public Company Limited - Thailand
- Central Electricity Authority - India
- Straits Asia Resources Limited - Singapore
- Agrawal Coal Company - India
- Vizag Seaport Private Limited - India
- Borneo Indobara - Indonesia
- Siam City Cement - Thailand
- Bhushan Steel Limited - India
- Standard Chartered Bank - UAE
- Ambuja Cements Ltd - India
- Goldman Sachs - Singapore
- PowerSource Philippines DevCo
- International Coal Ventures Pvt Ltd - India
- Indika Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Merrill Lynch Commodities Europe
- Trasteel International SA, Italy
- Global Green Power PLC Corporation, Philippines
- Sakthi Sugars Limited - India
- Coalindo Energy - Indonesia
- Vedanta Resources Plc - India
- Maharashtra Electricity Regulatory Commission - India
- Romanian Commodities Exchange
- IHS Mccloskey Coal Group - USA
- Global Business Power Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- San Jose City I Power Corp, Philippines
- Iligan Light & Power Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- Port Waratah Coal Services - Australia
- Maheswari Brothers Coal Limited - India
- Sarangani Energy Corporation, Philippines
- Independent Power Producers Association of India
- Essar Steel Hazira Ltd - India
- IEA Clean Coal Centre - UK
- Kartika Selabumi Mining - Indonesia
- Thai Mozambique Logistica
- TNB Fuel Sdn Bhd - Malaysia
- Videocon Industries ltd - India
- Cigading International Bulk Terminal - Indonesia
- Coal and Oil Company - UAE
- Edison Trading Spa - Italy
- Directorate Of Revenue Intelligence - India
- Orica Mining Services - Indonesia
- Kobexindo Tractors - Indoneisa
- GAC Shipping (India) Pvt Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- OPG Power Generation Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Semirara Mining Corp, Philippines
- Marubeni Corporation - India
- Gujarat Mineral Development Corp Ltd - India
- Sical Logistics Limited - India
- Africa Commodities Group - South Africa
- Bulk Trading Sa - Switzerland
- Larsen & Toubro Limited - India
- Dalmia Cement Bharat India
- Aboitiz Power Corporation - Philippines
- Kapuas Tunggal Persada - Indonesia
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