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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, 29 July 10
BALTIC INDEXES ARE POSITIVE SINCE A FEW DAYS
Handy
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Wednesday, 28 July 10
INDONESIA'S MERUKH SECURES US$200 MLN INVESTMENT FROM SAN MIGUEL
Trading Market Reported that, Indonesian mining company Merukh Enterprises said it has secured an investment commitment of US$200 million from the P ...
Wednesday, 28 July 10
RIZAL RISJAD MAY OWN 10% BERAU ENERGY
Rizal Risjad, son of Indonesian tycoon Ibrahim Risjad, might own 10% stakes in PT Berau Coal Energy Tbk (BRAU), parent company of Indonesia's fifth ...
Wednesday, 28 July 10
UNUSUAL RAINS TO HIT COAL EXPORTS
COALspot.com: Heavy rains in South and East Kalimantan have compelled coal exporters to delay or cancel coal exports. PT Bayan and PT. TIA hav ...
Tuesday, 27 July 10
INDIA HAS IMPORTED 1.5 MILLION TONS OF COAL LAST WEEK
COALspot.com: Coal imports in Indian ports have reached over 1.5 million tons for the week ended 25 July 2010. According to port agents, aroun ...
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- Leighton Contractors Pty Ltd - Australia
- Coal and Oil Company - UAE
- Bukit Makmur.PT - Indonesia
- Meenaskhi Energy Private Limited - India
- PetroVietnam Power Coal Import and Supply Company
- SMC Global Power, Philippines
- The Treasury - Australian Government
- Mjunction Services Limited - India
- McConnell Dowell - Australia
- Iligan Light & Power Inc, Philippines
- ICICI Bank Limited - India
- Attock Cement Pakistan Limited
- PNOC Exploration Corporation - Philippines
- Grasim Industreis Ltd - India
- Anglo American - United Kingdom
- Pendopo Energi Batubara - Indonesia
- Semirara Mining Corp, Philippines
- Central Java Power - Indonesia
- Kartika Selabumi Mining - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Global Coal Blending Company Limited - Australia
- Orica Australia Pty. Ltd.
- Ambuja Cements Ltd - India
- Indian Oil Corporation Limited
- Pipit Mutiara Jaya. PT, Indonesia
- Minerals Council of Australia
- Romanian Commodities Exchange
- Merrill Lynch Commodities Europe
- Indo Tambangraya Megah - Indonesia
- Baramulti Group, Indonesia
- Krishnapatnam Port Company Ltd. - India
- Karaikal Port Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- India Bulls Power Limited - India
- GMR Energy Limited - India
- Bukit Baiduri Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Malabar Cements Ltd - India
- Mercuria Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Bayan Resources Tbk. - Indonesia
- Lanco Infratech Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Africa Commodities Group - South Africa
- International Coal Ventures Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Makarim & Taira - Indonesia
- Xindia Steels Limited - India
- Rashtriya Ispat Nigam Limited - India
- Altura Mining Limited, Indonesia
- Indonesian Coal Mining Association
- Vizag Seaport Private Limited - India
- Bhoruka Overseas - Indonesia
- New Zealand Coal & Carbon
- Independent Power Producers Association of India
- Eastern Coal Council - USA
- The State Trading Corporation of India Ltd
- Deloitte Consulting - India
- Bangladesh Power Developement Board
- Mercator Lines Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- LBH Netherlands Bv - Netherlands
- London Commodity Brokers - England
- Kaltim Prima Coal - Indonesia
- Electricity Authority, New Zealand
- Carbofer General Trading SA - India
- AsiaOL BioFuels Corp., Philippines
- Toyota Tsusho Corporation, Japan
- Renaissance Capital - South Africa
- Singapore Mercantile Exchange
- Mintek Dendrill Indonesia
- Australian Commodity Traders Exchange
- Parliament of New Zealand
- Alfred C Toepfer International GmbH - Germany
- Salva Resources Pvt Ltd - India
- Sical Logistics Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Savvy Resources Ltd - HongKong
- Petron Corporation, Philippines
- Energy Link Ltd, New Zealand
- Bukit Asam (Persero) Tbk - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Medco Energi Mining Internasional
- Kobexindo Tractors - Indoneisa
- Bharathi Cement Corporation - India
- Orica Mining Services - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Barasentosa Lestari - Indonesia
- Essar Steel Hazira Ltd - India
- Sree Jayajothi Cements Limited - India
- Kepco SPC Power Corporation, Philippines
- White Energy Company Limited
- SN Aboitiz Power Inc, Philippines
- Marubeni Corporation - India
- Posco Energy - South Korea
- Antam Resourcindo - Indonesia
- IEA Clean Coal Centre - UK
- Georgia Ports Authority, United States
- Binh Thuan Hamico - Vietnam
- Planning Commission, India
- Gujarat Sidhee Cement - India
- Edison Trading Spa - Italy
- Billiton Holdings Pty Ltd - Australia
- Bhatia International Limited - India
- Commonwealth Bank - Australia
- Kalimantan Lumbung Energi - Indonesia
- CNBM International Corporation - China
- PTC India Limited - India
- Coastal Gujarat Power Limited - India
- Goldman Sachs - Singapore
- Tamil Nadu electricity Board
- ASAPP Information Group - India
- Dalmia Cement Bharat India
- Cigading International Bulk Terminal - Indonesia
- Riau Bara Harum - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- IHS Mccloskey Coal Group - USA
- Kohat Cement Company Ltd. - Pakistan
- Wood Mackenzie - Singapore
- Thiess Contractors Indonesia
- Agrawal Coal Company - India
- Borneo Indobara - Indonesia
- Latin American Coal - Colombia
- Jaiprakash Power Ventures ltd
- Oldendorff Carriers - Singapore
- SMG Consultants - Indonesia
- Rio Tinto Coal - Australia
- Samtan Co., Ltd - South Korea
- Aboitiz Power Corporation - Philippines
- Ministry of Finance - Indonesia
- Global Business Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Economic Council, Georgia
- Madhucon Powers Ltd - India
- Kideco Jaya Agung - Indonesia
- Directorate Of Revenue Intelligence - India
- Ministry of Transport, Egypt
- Sarangani Energy Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Ministry of Mines - Canada
- Manunggal Multi Energi - Indonesia
- European Bulk Services B.V. - Netherlands
- Uttam Galva Steels Limited - India
- Cement Manufacturers Association - India
- Power Finance Corporation Ltd., India
- MS Steel International - UAE
- The University of Queensland
- Price Waterhouse Coopers - Russia
- Jindal Steel & Power Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Straits Asia Resources Limited - Singapore
- Interocean Group of Companies - India
- San Jose City I Power Corp, Philippines
- Simpson Spence & Young - Indonesia
- Sakthi Sugars Limited - India
- VISA Power Limited - India
- Directorate General of MIneral and Coal - Indonesia
- CIMB Investment Bank - Malaysia
- South Luzon Thermal Energy Corporation
- Sinarmas Energy and Mining - Indonesia
- Star Paper Mills Limited - India
- Sojitz Corporation - Japan
- Bulk Trading Sa - Switzerland
- Vedanta Resources Plc - India
- Larsen & Toubro Limited - India
- Bhushan Steel Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Australian Coal Association
- Videocon Industries ltd - India
- Electricity Generating Authority of Thailand
- Aditya Birla Group - India
- Global Green Power PLC Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Wilmar Investment Holdings
- Siam City Cement PLC, Thailand
- GAC Shipping (India) Pvt Ltd
- GVK Power & Infra Limited - India
- Formosa Plastics Group - Taiwan
- Eastern Energy - Thailand
- PowerSource Philippines DevCo
- Chamber of Mines of South Africa
- Thai Mozambique Logistica
- Trasteel International SA, Italy
- TNB Fuel Sdn Bhd - Malaysia
- Meralco Power Generation, Philippines
- Timah Investasi Mineral - Indoneisa
- Parry Sugars Refinery, India
- Banpu Public Company Limited - Thailand
- Indian Energy Exchange, India
- Ceylon Electricity Board - Sri Lanka
- TeaM Sual Corporation - Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Heidelberg Cement - Germany
- Gujarat Electricity Regulatory Commission - India
- Chettinad Cement Corporation Ltd - India
- Central Electricity Authority - India
- Gujarat Mineral Development Corp Ltd - India
- Ind-Barath Power Infra Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Tata Chemicals Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Indogreen Group - Indonesia
- OPG Power Generation Pvt Ltd - India
- Coalindo Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Port Waratah Coal Services - Australia
- Siam City Cement - Thailand
- Kumho Petrochemical, South Korea
- Energy Development Corp, Philippines
- Sindya Power Generating Company Private Ltd
- Indika Energy - Indonesia
- Standard Chartered Bank - UAE
- Kapuas Tunggal Persada - Indonesia
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