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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, 01 April 10
PROFIT AT TWO INDONESIAN COAL MINERS SOARS AS RECOVERY STIRS GREATER DEMAND, HIGHER PRICES - THE JAKARTA GLOBE
The Jakarta Globe reported that, Two of the country’s biggest coal producers enjoyed a surge in profit last year as prices rose and demand pic ...
Thursday, 01 April 10
BHP BILLITON TO SELL STAKE IN MARUWAI TO ADARO - THE JAKARTA POST
The Jakarta Posted reported that, BHP Billiton has agreed to sell 25 percent of its stake in the Maruwai Coal Project in Kalimantan to Indonesia&rsq ...
Thursday, 01 April 10
AUSTRALIAN COAL PRODUCER REJECTS $3 BILLION PEABODY OFFER - STL TODAY
STL today reported that, Australian coal producer Macarthur Coal Ltd. rejected a $3 billion cash takeover bid from Peabody Energy Corp., which seeks ...
Thursday, 01 April 10
TATA POWER EYES MORE COAL FROM INDONESIA FOR ITS FUTURE PLANTS - FINANCIAL EXPRESS
Financial Expressreported that, Tata Power, one of the largest private sector power utilities in the country with interests in generation, transmiss ...
Wednesday, 31 March 10
COAL INDIA MULLS JOINT VENTURE WITH RIO TINTO AND PEABODY - DNA
DNA reported that, Coal India Ltd. (CIL) has finalised two key contenders for its international joint venture (JV) in Australian and US each. The co ...
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- Rio Tinto Coal - Australia
- Bayan Resources Tbk. - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Orica Mining Services - Indonesia
- Sindya Power Generating Company Private Ltd
- Star Paper Mills Limited - India
- International Coal Ventures Pvt Ltd - India
- The University of Queensland
- Deloitte Consulting - India
- Merrill Lynch Commodities Europe
- Larsen & Toubro Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Vedanta Resources Plc - India
- Ministry of Finance - Indonesia
- Indian Oil Corporation Limited
- Salva Resources Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Bhoruka Overseas - Indonesia
- SMC Global Power, Philippines
- Coalindo Energy - Indonesia
- Orica Australia Pty. Ltd.
- Miang Besar Coal Terminal - Indonesia
- India Bulls Power Limited - India
- Coastal Gujarat Power Limited - India
- Leighton Contractors Pty Ltd - Australia
- Karaikal Port Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Indian Energy Exchange, India
- Petron Corporation, Philippines
- Commonwealth Bank - Australia
- Vizag Seaport Private Limited - India
- Posco Energy - South Korea
- Ministry of Transport, Egypt
- Sakthi Sugars Limited - India
- Pendopo Energi Batubara - Indonesia
- Iligan Light & Power Inc, Philippines
- Attock Cement Pakistan Limited
- Bukit Makmur.PT - Indonesia
- Georgia Ports Authority, United States
- Sojitz Corporation - Japan
- Renaissance Capital - South Africa
- The Treasury - Australian Government
- Savvy Resources Ltd - HongKong
- Directorate General of MIneral and Coal - Indonesia
- Kumho Petrochemical, South Korea
- Indogreen Group - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Sree Jayajothi Cements Limited - India
- CNBM International Corporation - China
- Simpson Spence & Young - Indonesia
- White Energy Company Limited
- Cement Manufacturers Association - India
- Central Java Power - Indonesia
- Anglo American - United Kingdom
- South Luzon Thermal Energy Corporation
- Goldman Sachs - Singapore
- Chettinad Cement Corporation Ltd - India
- Malabar Cements Ltd - India
- Bulk Trading Sa - Switzerland
- Krishnapatnam Port Company Ltd. - India
- Borneo Indobara - Indonesia
- Banpu Public Company Limited - Thailand
- Australian Commodity Traders Exchange
- Gujarat Electricity Regulatory Commission - India
- The State Trading Corporation of India Ltd
- Indo Tambangraya Megah - Indonesia
- Economic Council, Georgia
- Maharashtra Electricity Regulatory Commission - India
- Africa Commodities Group - South Africa
- Trasteel International SA, Italy
- Baramulti Group, Indonesia
- Semirara Mining Corp, Philippines
- Wilmar Investment Holdings
- Electricity Generating Authority of Thailand
- Wood Mackenzie - Singapore
- Intertek Mineral Services - Indonesia
- San Jose City I Power Corp, Philippines
- TeaM Sual Corporation - Philippines
- Price Waterhouse Coopers - Russia
- Agrawal Coal Company - India
- Port Waratah Coal Services - Australia
- Latin American Coal - Colombia
- Barasentosa Lestari - Indonesia
- Siam City Cement - Thailand
- Romanian Commodities Exchange
- Eastern Energy - Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- MS Steel International - UAE
- Makarim & Taira - Indonesia
- Eastern Coal Council - USA
- Rashtriya Ispat Nigam Limited - India
- Bharathi Cement Corporation - India
- Essar Steel Hazira Ltd - India
- Parry Sugars Refinery, India
- Globalindo Alam Lestari - Indonesia
- Formosa Plastics Group - Taiwan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Global Business Power Corporation, Philippines
- Power Finance Corporation Ltd., India
- Indika Energy - Indonesia
- VISA Power Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Toyota Tsusho Corporation, Japan
- Bhatia International Limited - India
- Electricity Authority, New Zealand
- Mjunction Services Limited - India
- Mercator Lines Limited - India
- Thiess Contractors Indonesia
- Oldendorff Carriers - Singapore
- Timah Investasi Mineral - Indoneisa
- ASAPP Information Group - India
- Sical Logistics Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Standard Chartered Bank - UAE
- Riau Bara Harum - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Uttam Galva Steels Limited - India
- PowerSource Philippines DevCo
- Heidelberg Cement - Germany
- Binh Thuan Hamico - Vietnam
- GVK Power & Infra Limited - India
- GN Power Mariveles Coal Plant, Philippines
- European Bulk Services B.V. - Netherlands
- Grasim Industreis Ltd - India
- Singapore Mercantile Exchange
- Bukit Baiduri Energy - Indonesia
- ICICI Bank Limited - India
- Parliament of New Zealand
- Medco Energi Mining Internasional
- Kapuas Tunggal Persada - Indonesia
- Aboitiz Power Corporation - Philippines
- Holcim Trading Pte Ltd - Singapore
- Therma Luzon, Inc, Philippines
- Australian Coal Association
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Straits Asia Resources Limited - Singapore
- Meenaskhi Energy Private Limited - India
- London Commodity Brokers - England
- Tata Chemicals Ltd - India
- LBH Netherlands Bv - Netherlands
- New Zealand Coal & Carbon
- Gujarat Sidhee Cement - India
- Billiton Holdings Pty Ltd - Australia
- Central Electricity Authority - India
- Sarangani Energy Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- GAC Shipping (India) Pvt Ltd
- Global Coal Blending Company Limited - Australia
- Directorate Of Revenue Intelligence - India
- Mercuria Energy - Indonesia
- Mintek Dendrill Indonesia
- PTC India Limited - India
- OPG Power Generation Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Jindal Steel & Power Ltd - India
- Xindia Steels Limited - India
- Meralco Power Generation, Philippines
- Videocon Industries ltd - India
- GMR Energy Limited - India
- Kideco Jaya Agung - Indonesia
- Tamil Nadu electricity Board
- IHS Mccloskey Coal Group - USA
- Carbofer General Trading SA - India
- Edison Trading Spa - Italy
- Aditya Birla Group - India
- Planning Commission, India
- Pipit Mutiara Jaya. PT, Indonesia
- Coal and Oil Company - UAE
- AsiaOL BioFuels Corp., Philippines
- Chamber of Mines of South Africa
- Ministry of Mines - Canada
- Neyveli Lignite Corporation Ltd, - India
- Siam City Cement PLC, Thailand
- SMG Consultants - Indonesia
- Dalmia Cement Bharat India
- Jorong Barutama Greston.PT - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- PNOC Exploration Corporation - Philippines
- Kartika Selabumi Mining - Indonesia
- Altura Mining Limited, Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Energy Link Ltd, New Zealand
- SN Aboitiz Power Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Lanco Infratech Ltd - India
- Ambuja Cements Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Thai Mozambique Logistica
- Madhucon Powers Ltd - India
- McConnell Dowell - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Minerals Council of Australia
- Kaltim Prima Coal - Indonesia
- Marubeni Corporation - India
- CIMB Investment Bank - Malaysia
- Maheswari Brothers Coal Limited - India
- Metalloyd Limited - United Kingdom
- Energy Development Corp, Philippines
- Cigading International Bulk Terminal - Indonesia
- Interocean Group of Companies - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sinarmas Energy and Mining - Indonesia
- Kepco SPC Power Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Bhushan Steel Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Independent Power Producers Association of India
- Bangladesh Power Developement Board
- Indonesian Coal Mining Association
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