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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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Saturday, 19 June 10
STRONG DEMAND, RISING PRODUCTION SETTING SCENE FOR COAL BONANZA - THE JAKARTA GLOBE
The Jakarta globe rerported that, As the nation’s coal miners enjoy burgeoning demand from energy-hungry economies such as China and India, th ...
Saturday, 19 June 10
DRY BULK MARKET DOWN ON CHINESE SLOWDOWN FEARS
Dry bulk freight rates have been on a freefall for more than two weeks now, something which has caused the industry’s benchmark, the Baltic Dr ...
Saturday, 19 June 10
COAL INDIA KEEN ON BLOCK DEVELOPMENT IN INDONESIA - THE HINDU BUSINESS LINE
Expanding horizon
Agreement by the Indonesian Government is likely to help CIL gain foothold in India's largest sourcing point of thermal coal.
...
Friday, 18 June 10
THE PANAMAX MARKET CONTINUED ITS SOFTENING TREND - FEARNBULK
Handy
Flat Atlantic markets with most markets in ´slow mode´ due to holidays in China.
Supramax vessels open in the USG are achievi ...
Thursday, 17 June 10
INDONESIAN COAL PRICE REFERENCE FOR JUNE IS US$ 97.22/TON UP 5.59 PERCENT
COALspot.com: The directorate general of mineral, coal and geothermal of Indonesia has been publishing a monthly coal price reference (HBA) to be us ...
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- Tamil Nadu electricity Board
- Semirara Mining Corp, Philippines
- Latin American Coal - Colombia
- Port Waratah Coal Services - Australia
- Antam Resourcindo - Indonesia
- Semirara Mining and Power Corporation, Philippines
- TeaM Sual Corporation - Philippines
- ASAPP Information Group - India
- PowerSource Philippines DevCo
- Alfred C Toepfer International GmbH - Germany
- Kohat Cement Company Ltd. - Pakistan
- Cement Manufacturers Association - India
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- OPG Power Generation Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Sree Jayajothi Cements Limited - India
- PNOC Exploration Corporation - Philippines
- Meenaskhi Energy Private Limited - India
- IHS Mccloskey Coal Group - USA
- Goldman Sachs - Singapore
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- Straits Asia Resources Limited - Singapore
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- Orica Australia Pty. Ltd.
- Gujarat Mineral Development Corp Ltd - India
- Coastal Gujarat Power Limited - India
- The State Trading Corporation of India Ltd
- Manunggal Multi Energi - Indonesia
- Australian Commodity Traders Exchange
- Petron Corporation, Philippines
- Mercator Lines Limited - India
- Jaiprakash Power Ventures ltd
- Salva Resources Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- CIMB Investment Bank - Malaysia
- Lanco Infratech Ltd - India
- Globalindo Alam Lestari - Indonesia
- Indian Energy Exchange, India
- Bukit Makmur.PT - Indonesia
- Indonesian Coal Mining Association
- Attock Cement Pakistan Limited
- Neyveli Lignite Corporation Ltd, - India
- Bhushan Steel Limited - India
- Siam City Cement PLC, Thailand
- Bulk Trading Sa - Switzerland
- AsiaOL BioFuels Corp., Philippines
- Mintek Dendrill Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Australian Coal Association
- Africa Commodities Group - South Africa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Georgia Ports Authority, United States
- Directorate Of Revenue Intelligence - India
- Grasim Industreis Ltd - India
- Indo Tambangraya Megah - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Energy Development Corp, Philippines
- Iligan Light & Power Inc, Philippines
- Coal and Oil Company - UAE
- Global Business Power Corporation, Philippines
- Xindia Steels Limited - India
- Trasteel International SA, Italy
- Sakthi Sugars Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Thai Mozambique Logistica
- Chamber of Mines of South Africa
- International Coal Ventures Pvt Ltd - India
- The University of Queensland
- Minerals Council of Australia
- LBH Netherlands Bv - Netherlands
- GVK Power & Infra Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Tata Chemicals Ltd - India
- CNBM International Corporation - China
- Larsen & Toubro Limited - India
- Thiess Contractors Indonesia
- Wood Mackenzie - Singapore
- Eastern Energy - Thailand
- Wilmar Investment Holdings
- Bank of Tokyo Mitsubishi UFJ Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Energy Link Ltd, New Zealand
- Electricity Authority, New Zealand
- VISA Power Limited - India
- Maheswari Brothers Coal Limited - India
- Kapuas Tunggal Persada - Indonesia
- Barasentosa Lestari - Indonesia
- Savvy Resources Ltd - HongKong
- Borneo Indobara - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Anglo American - United Kingdom
- Planning Commission, India
- Posco Energy - South Korea
- Edison Trading Spa - Italy
- Bangladesh Power Developement Board
- Vijayanagar Sugar Pvt Ltd - India
- GMR Energy Limited - India
- Billiton Holdings Pty Ltd - Australia
- Therma Luzon, Inc, Philippines
- Commonwealth Bank - Australia
- Ministry of Finance - Indonesia
- Mercuria Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Ministry of Mines - Canada
- Marubeni Corporation - India
- McConnell Dowell - Australia
- Eastern Coal Council - USA
- Rio Tinto Coal - Australia
- Bhatia International Limited - India
- SN Aboitiz Power Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- Kalimantan Lumbung Energi - Indonesia
- Timah Investasi Mineral - Indoneisa
- Formosa Plastics Group - Taiwan
- Singapore Mercantile Exchange
- Cigading International Bulk Terminal - Indonesia
- SMG Consultants - Indonesia
- Interocean Group of Companies - India
- Leighton Contractors Pty Ltd - Australia
- Carbofer General Trading SA - India
- Bukit Baiduri Energy - Indonesia
- PTC India Limited - India
- Bhoruka Overseas - Indonesia
- Kepco SPC Power Corporation, Philippines
- Central Java Power - Indonesia
- Toyota Tsusho Corporation, Japan
- Ambuja Cements Ltd - India
- Jindal Steel & Power Ltd - India
- Pendopo Energi Batubara - Indonesia
- Sindya Power Generating Company Private Ltd
- Aboitiz Power Corporation - Philippines
- Ministry of Transport, Egypt
- Bayan Resources Tbk. - Indonesia
- London Commodity Brokers - England
- Asmin Koalindo Tuhup - Indonesia
- Metalloyd Limited - United Kingdom
- Orica Mining Services - Indonesia
- Sarangani Energy Corporation, Philippines
- Gujarat Sidhee Cement - India
- Intertek Mineral Services - Indonesia
- Karaikal Port Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Dalmia Cement Bharat India
- Makarim & Taira - Indonesia
- India Bulls Power Limited - India
- Indian Oil Corporation Limited
- Vedanta Resources Plc - India
- Renaissance Capital - South Africa
- Agrawal Coal Company - India
- Global Green Power PLC Corporation, Philippines
- Coalindo Energy - Indonesia
- Standard Chartered Bank - UAE
- Heidelberg Cement - Germany
- Riau Bara Harum - Indonesia
- Deloitte Consulting - India
- Uttam Galva Steels Limited - India
- Oldendorff Carriers - Singapore
- Global Coal Blending Company Limited - Australia
- Parliament of New Zealand
- Economic Council, Georgia
- Medco Energi Mining Internasional
- Kartika Selabumi Mining - Indonesia
- Vizag Seaport Private Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- White Energy Company Limited
- Directorate General of MIneral and Coal - Indonesia
- SMC Global Power, Philippines
- The Treasury - Australian Government
- Kaltim Prima Coal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Chettinad Cement Corporation Ltd - India
- Madhucon Powers Ltd - India
- Krishnapatnam Port Company Ltd. - India
- San Jose City I Power Corp, Philippines
- Star Paper Mills Limited - India
- Baramulti Group, Indonesia
- Indika Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Aditya Birla Group - India
- Sojitz Corporation - Japan
- South Luzon Thermal Energy Corporation
- Kobexindo Tractors - Indoneisa
- Mjunction Services Limited - India
- Merrill Lynch Commodities Europe
- Samtan Co., Ltd - South Korea
- Kideco Jaya Agung - Indonesia
- Power Finance Corporation Ltd., India
- Sical Logistics Limited - India
- Central Electricity Authority - India
- Independent Power Producers Association of India
- MS Steel International - UAE
- Indogreen Group - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Price Waterhouse Coopers - Russia
- Karbindo Abesyapradhi - Indoneisa
- Sinarmas Energy and Mining - Indonesia
- ICICI Bank Limited - India
- Malabar Cements Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Bharathi Cement Corporation - India
- Parry Sugars Refinery, India
- IEA Clean Coal Centre - UK
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- Bahari Cakrawala Sebuku - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Kumho Petrochemical, South Korea
- GAC Shipping (India) Pvt Ltd
- Ind-Barath Power Infra Limited - India
- Meralco Power Generation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Maharashtra Electricity Regulatory Commission - India
- Romanian Commodities Exchange
- Electricity Generating Authority of Thailand
- New Zealand Coal & Carbon
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