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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, 11 August 10
BANPU SECURES TAKEOVER LOAN - BANGKOK POST
Bangkok Post reported that, Banpu Plc, Asean's largest coal miner, has secured loans worth US$2 billion from Thai and foreign banks to proceed with ...
Tuesday, 10 August 10
KOREA'S EWP TO BUY 4 MILLION TON OF 3700 AND 4600 NAR COAL AT FIXED PRICE
COALspot.com: Korean utility East-West Power out with the tender to buy 0.670 million tons with a minimum calorific value of 4600 NAR and 0.350 mill ...
Tuesday, 10 August 10
COAL CONSTRAINS CORE SECTOR GROWTH IN JUNE 2010
Growth in the six key infrastructure sectors decelerated for the third month in June. This is primarily due to last year’s high base effect. D ...
Sunday, 08 August 10
SOUTH AFRICA INCREASES COAL EXPORTS TO INDIA BY 74% IN JULY, TRADER SAYS
South Africa’s Richards Bay, the continent’s largest coal terminal, increased sales to India by 74 percent in July from June, according ...
Saturday, 07 August 10
INDIAN COAL IMPORTS WILL PLAY AN IMPORTANT PART IN KEEPING THE FREIGHT MARKET FIRM IN FUTURE - VISTAAR
COALspot.com: The freight market was volatile with market ending firmed and the BDI crossing 2000 points up by 3 pct, however the BCI was up by 14 p ...
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- Dalmia Cement Bharat India
- Indo Tambangraya Megah - Indonesia
- Electricity Generating Authority of Thailand
- Karaikal Port Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Toyota Tsusho Corporation, Japan
- India Bulls Power Limited - India
- Price Waterhouse Coopers - Russia
- Savvy Resources Ltd - HongKong
- Deloitte Consulting - India
- Ambuja Cements Ltd - India
- Thiess Contractors Indonesia
- Therma Luzon, Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Wood Mackenzie - Singapore
- Tata Chemicals Ltd - India
- Romanian Commodities Exchange
- Coalindo Energy - Indonesia
- PowerSource Philippines DevCo
- South Luzon Thermal Energy Corporation
- Meenaskhi Energy Private Limited - India
- Chettinad Cement Corporation Ltd - India
- Altura Mining Limited, Indonesia
- Riau Bara Harum - Indonesia
- Siam City Cement - Thailand
- Timah Investasi Mineral - Indoneisa
- Grasim Industreis Ltd - India
- Larsen & Toubro Limited - India
- GVK Power & Infra Limited - India
- Malabar Cements Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- IEA Clean Coal Centre - UK
- MS Steel International - UAE
- Semirara Mining Corp, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Standard Chartered Bank - UAE
- Sojitz Corporation - Japan
- Sakthi Sugars Limited - India
- Maheswari Brothers Coal Limited - India
- Uttam Galva Steels Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Global Coal Blending Company Limited - Australia
- Mjunction Services Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Bayan Resources Tbk. - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kepco SPC Power Corporation, Philippines
- Mintek Dendrill Indonesia
- Global Business Power Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Vizag Seaport Private Limited - India
- Madhucon Powers Ltd - India
- Heidelberg Cement - Germany
- New Zealand Coal & Carbon
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Tamil Nadu electricity Board
- SMG Consultants - Indonesia
- Ministry of Mines - Canada
- Mercuria Energy - Indonesia
- Power Finance Corporation Ltd., India
- Samtan Co., Ltd - South Korea
- Globalindo Alam Lestari - Indonesia
- PTC India Limited - India
- Banpu Public Company Limited - Thailand
- CIMB Investment Bank - Malaysia
- Ministry of Transport, Egypt
- Bahari Cakrawala Sebuku - Indonesia
- Chamber of Mines of South Africa
- Oldendorff Carriers - Singapore
- Energy Development Corp, Philippines
- Parliament of New Zealand
- Medco Energi Mining Internasional
- The State Trading Corporation of India Ltd
- ASAPP Information Group - India
- Central Electricity Authority - India
- Wilmar Investment Holdings
- Independent Power Producers Association of India
- Bukit Makmur.PT - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Manunggal Multi Energi - Indonesia
- Videocon Industries ltd - India
- CNBM International Corporation - China
- White Energy Company Limited
- Bangladesh Power Developement Board
- Vedanta Resources Plc - India
- Kapuas Tunggal Persada - Indonesia
- Planning Commission, India
- Semirara Mining and Power Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Kumho Petrochemical, South Korea
- Star Paper Mills Limited - India
- Krishnapatnam Port Company Ltd. - India
- Rio Tinto Coal - Australia
- The University of Queensland
- Offshore Bulk Terminal Pte Ltd, Singapore
- Salva Resources Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Siam City Cement PLC, Thailand
- Global Green Power PLC Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Economic Council, Georgia
- Metalloyd Limited - United Kingdom
- Bhatia International Limited - India
- Jaiprakash Power Ventures ltd
- Georgia Ports Authority, United States
- Ceylon Electricity Board - Sri Lanka
- Thai Mozambique Logistica
- Asmin Koalindo Tuhup - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Xindia Steels Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Coal and Oil Company - UAE
- Indika Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Parry Sugars Refinery, India
- PNOC Exploration Corporation - Philippines
- Straits Asia Resources Limited - Singapore
- Marubeni Corporation - India
- London Commodity Brokers - England
- OPG Power Generation Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Jindal Steel & Power Ltd - India
- Antam Resourcindo - Indonesia
- European Bulk Services B.V. - Netherlands
- Bulk Trading Sa - Switzerland
- Directorate Of Revenue Intelligence - India
- Borneo Indobara - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Sinarmas Energy and Mining - Indonesia
- Pendopo Energi Batubara - Indonesia
- Barasentosa Lestari - Indonesia
- Energy Link Ltd, New Zealand
- Indonesian Coal Mining Association
- Kobexindo Tractors - Indoneisa
- Central Java Power - Indonesia
- Bharathi Cement Corporation - India
- Mercator Lines Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Latin American Coal - Colombia
- VISA Power Limited - India
- Cement Manufacturers Association - India
- SN Aboitiz Power Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Indogreen Group - Indonesia
- Kaltim Prima Coal - Indonesia
- Edison Trading Spa - Italy
- Trasteel International SA, Italy
- Gujarat Sidhee Cement - India
- Aboitiz Power Corporation - Philippines
- McConnell Dowell - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bhushan Steel Limited - India
- Cigading International Bulk Terminal - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Indian Energy Exchange, India
- Neyveli Lignite Corporation Ltd, - India
- Bukit Baiduri Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Interocean Group of Companies - India
- Renaissance Capital - South Africa
- Kideco Jaya Agung - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Simpson Spence & Young - Indonesia
- International Coal Ventures Pvt Ltd - India
- Commonwealth Bank - Australia
- Electricity Authority, New Zealand
- Sarangani Energy Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Indian Oil Corporation Limited
- Australian Commodity Traders Exchange
- Australian Coal Association
- AsiaOL BioFuels Corp., Philippines
- GMR Energy Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Carbofer General Trading SA - India
- Sindya Power Generating Company Private Ltd
- GAC Shipping (India) Pvt Ltd
- Leighton Contractors Pty Ltd - Australia
- Sical Logistics Limited - India
- Eastern Coal Council - USA
- Meralco Power Generation, Philippines
- Eastern Energy - Thailand
- Baramulti Group, Indonesia
- Goldman Sachs - Singapore
- LBH Netherlands Bv - Netherlands
- Attock Cement Pakistan Limited
- SMC Global Power, Philippines
- Orica Mining Services - Indonesia
- San Jose City I Power Corp, Philippines
- Anglo American - United Kingdom
- Ministry of Finance - Indonesia
- ICICI Bank Limited - India
- Sree Jayajothi Cements Limited - India
- TeaM Sual Corporation - Philippines
- Orica Australia Pty. Ltd.
- Aditya Birla Group - India
- Alfred C Toepfer International GmbH - Germany
- Essar Steel Hazira Ltd - India
- Singapore Mercantile Exchange
- Port Waratah Coal Services - Australia
- Africa Commodities Group - South Africa
- Binh Thuan Hamico - Vietnam
- Minerals Council of Australia
- PetroVietnam Power Coal Import and Supply Company
- IHS Mccloskey Coal Group - USA
- Gujarat Electricity Regulatory Commission - India
- Makarim & Taira - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Agrawal Coal Company - India
- Petron Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Posco Energy - South Korea
- Lanco Infratech Ltd - India
- The Treasury - Australian Government
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