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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, 26 November 10
INDIA WILL IMPORT 100 MLN TONS OF COAL BY 2012 - LAKSHMINARAYANA
COALspot.com – “India’s coal shortfall will reach 100 million mt by 2011-12”, said Lakshminarayana, Vice Preside ...
Friday, 26 November 10
CHINAS COAL INVENTORY STAYS HIGH FOR 22 MONTHS AT 220 MLN T, ASSOCIATION
Xinhua News Agency reported that, China’s coal inventory has stayed high and unchanged for 22 months to be around 220 million tonnes, reflecti ...
Friday, 26 November 10
DR WOLFGANG CIESLIK TO HEAD GERMAN COAL IMPORTERS ASSOCIATION
COALspot.com – (Press Release): The Management Board of the German Coal Importers Association (Verein der Kohlenimporteure e.V.) has elected D ...
Thursday, 25 November 10
ANALYSIS: COAL SECTOR: VALUE EMERGENCE - THE JAKARTA POST
Coal demand will remain firm due to a build-up of coal-fired power plants in India, China and Indonesia. As a result, we have upgraded our coal pric ...
Thursday, 25 November 10
INDONESIAN ROUNDS ARE ACHIEVING IN THE LOW 10S, OWNERS ARE NOT KEEN FOR TRIPS TO INDIA - FEARNBULK
HANDY
Uneventful week - Supra/Panamax stems ex USG to China/Korea/Japan are the main focus + grains ex. Argentina. The Atlantic market activity re ...
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- Parliament of New Zealand
- CNBM International Corporation - China
- Metalloyd Limited - United Kingdom
- GMR Energy Limited - India
- Billiton Holdings Pty Ltd - Australia
- CIMB Investment Bank - Malaysia
- Romanian Commodities Exchange
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Agrawal Coal Company - India
- Dalmia Cement Bharat India
- Jaiprakash Power Ventures ltd
- Semirara Mining and Power Corporation, Philippines
- Global Business Power Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- PTC India Limited - India
- MS Steel International - UAE
- Tata Chemicals Ltd - India
- PNOC Exploration Corporation - Philippines
- Energy Development Corp, Philippines
- Sojitz Corporation - Japan
- Borneo Indobara - Indonesia
- Indian Energy Exchange, India
- Aboitiz Power Corporation - Philippines
- Salva Resources Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- McConnell Dowell - Australia
- Directorate General of MIneral and Coal - Indonesia
- Sical Logistics Limited - India
- Jindal Steel & Power Ltd - India
- ICICI Bank Limited - India
- Tamil Nadu electricity Board
- South Luzon Thermal Energy Corporation
- VISA Power Limited - India
- SN Aboitiz Power Inc, Philippines
- Rio Tinto Coal - Australia
- Coastal Gujarat Power Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Singapore Mercantile Exchange
- Goldman Sachs - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Eastern Coal Council - USA
- Aditya Birla Group - India
- Semirara Mining Corp, Philippines
- Bulk Trading Sa - Switzerland
- Jorong Barutama Greston.PT - Indonesia
- IHS Mccloskey Coal Group - USA
- Ambuja Cements Ltd - India
- Electricity Generating Authority of Thailand
- Attock Cement Pakistan Limited
- Karaikal Port Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Maheswari Brothers Coal Limited - India
- Iligan Light & Power Inc, Philippines
- Georgia Ports Authority, United States
- Sarangani Energy Corporation, Philippines
- ASAPP Information Group - India
- Bharathi Cement Corporation - India
- Leighton Contractors Pty Ltd - Australia
- Global Coal Blending Company Limited - Australia
- Central Electricity Authority - India
- Heidelberg Cement - Germany
- Kapuas Tunggal Persada - Indonesia
- Orica Mining Services - Indonesia
- Straits Asia Resources Limited - Singapore
- Malabar Cements Ltd - India
- The Treasury - Australian Government
- TNB Fuel Sdn Bhd - Malaysia
- Power Finance Corporation Ltd., India
- Gujarat Electricity Regulatory Commission - India
- Ministry of Finance - Indonesia
- Africa Commodities Group - South Africa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Grasim Industreis Ltd - India
- Baramulti Group, Indonesia
- Mercuria Energy - Indonesia
- Wood Mackenzie - Singapore
- Karbindo Abesyapradhi - Indoneisa
- SMC Global Power, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Lanco Infratech Ltd - India
- Riau Bara Harum - Indonesia
- Carbofer General Trading SA - India
- Sinarmas Energy and Mining - Indonesia
- The State Trading Corporation of India Ltd
- Neyveli Lignite Corporation Ltd, - India
- Eastern Energy - Thailand
- Videocon Industries ltd - India
- Medco Energi Mining Internasional
- Toyota Tsusho Corporation, Japan
- GVK Power & Infra Limited - India
- Edison Trading Spa - Italy
- Directorate Of Revenue Intelligence - India
- Uttam Galva Steels Limited - India
- Timah Investasi Mineral - Indoneisa
- Manunggal Multi Energi - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Kalimantan Lumbung Energi - Indonesia
- Petron Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Port Waratah Coal Services - Australia
- GAC Shipping (India) Pvt Ltd
- AsiaOL BioFuels Corp., Philippines
- Savvy Resources Ltd - HongKong
- The University of Queensland
- Bayan Resources Tbk. - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Kideco Jaya Agung - Indonesia
- London Commodity Brokers - England
- Anglo American - United Kingdom
- White Energy Company Limited
- New Zealand Coal & Carbon
- SMG Consultants - Indonesia
- Indika Energy - Indonesia
- Posco Energy - South Korea
- Orica Australia Pty. Ltd.
- Energy Link Ltd, New Zealand
- PetroVietnam Power Coal Import and Supply Company
- Ind-Barath Power Infra Limited - India
- Renaissance Capital - South Africa
- Trasteel International SA, Italy
- Kohat Cement Company Ltd. - Pakistan
- Bhatia International Limited - India
- Gujarat Sidhee Cement - India
- Electricity Authority, New Zealand
- Ministry of Mines - Canada
- Pendopo Energi Batubara - Indonesia
- Makarim & Taira - Indonesia
- Australian Commodity Traders Exchange
- Marubeni Corporation - India
- LBH Netherlands Bv - Netherlands
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Siam City Cement - Thailand
- Meralco Power Generation, Philippines
- Mjunction Services Limited - India
- IEA Clean Coal Centre - UK
- Star Paper Mills Limited - India
- Vizag Seaport Private Limited - India
- Sakthi Sugars Limited - India
- Antam Resourcindo - Indonesia
- Chamber of Mines of South Africa
- Planning Commission, India
- Indonesian Coal Mining Association
- Bangladesh Power Developement Board
- Vijayanagar Sugar Pvt Ltd - India
- Minerals Council of Australia
- Rashtriya Ispat Nigam Limited - India
- Samtan Co., Ltd - South Korea
- Kaltim Prima Coal - Indonesia
- Coalindo Energy - Indonesia
- Central Java Power - Indonesia
- Latin American Coal - Colombia
- Ministry of Transport, Egypt
- Offshore Bulk Terminal Pte Ltd, Singapore
- Global Green Power PLC Corporation, Philippines
- Economic Council, Georgia
- Holcim Trading Pte Ltd - Singapore
- Globalindo Alam Lestari - Indonesia
- Indian Oil Corporation Limited
- Indo Tambangraya Megah - Indonesia
- Deloitte Consulting - India
- Commonwealth Bank - Australia
- Simpson Spence & Young - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Kumho Petrochemical, South Korea
- Coal and Oil Company - UAE
- Chettinad Cement Corporation Ltd - India
- OPG Power Generation Pvt Ltd - India
- Mintek Dendrill Indonesia
- Ceylon Electricity Board - Sri Lanka
- Sindya Power Generating Company Private Ltd
- Bhushan Steel Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Siam City Cement PLC, Thailand
- Parry Sugars Refinery, India
- Oldendorff Carriers - Singapore
- Price Waterhouse Coopers - Russia
- Sree Jayajothi Cements Limited - India
- Essar Steel Hazira Ltd - India
- Bhoruka Overseas - Indonesia
- Wilmar Investment Holdings
- Banpu Public Company Limited - Thailand
- Kobexindo Tractors - Indoneisa
- Cigading International Bulk Terminal - Indonesia
- Mercator Lines Limited - India
- Bukit Baiduri Energy - Indonesia
- Thiess Contractors Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Intertek Mineral Services - Indonesia
- Indogreen Group - Indonesia
- Vedanta Resources Plc - India
- Alfred C Toepfer International GmbH - Germany
- Larsen & Toubro Limited - India
- Independent Power Producers Association of India
- Therma Luzon, Inc, Philippines
- India Bulls Power Limited - India
- Interocean Group of Companies - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Formosa Plastics Group - Taiwan
- Merrill Lynch Commodities Europe
- Pipit Mutiara Jaya. PT, Indonesia
- Cement Manufacturers Association - India
- Madhucon Powers Ltd - India
- Xindia Steels Limited - India
- Altura Mining Limited, Indonesia
- European Bulk Services B.V. - Netherlands
- Thai Mozambique Logistica
- Australian Coal Association
- Binh Thuan Hamico - Vietnam
- PowerSource Philippines DevCo
- Kartika Selabumi Mining - Indonesia
- Standard Chartered Bank - UAE
- Krishnapatnam Port Company Ltd. - India
- TeaM Sual Corporation - Philippines
- San Jose City I Power Corp, Philippines
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