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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 March 10
CHINA PLANS TO INCREASES IMPORT COAL GREATLY IN 2010
– Asia Pacific Coal Trading & Investment Outlook 2010-
COALspot.com (Press Release): China plans to increase coal import significantly ...
Friday, 26 March 10
NTPC IN TALKS FOR INDONESIAN MINE - LIVE MINT
The deal for the coal mine with 1.8 bn tonnes of reserves may be valued at $1 bn
Live Mint reported that, State-run power utility NTPC Ltd is in ta ...
Friday, 26 March 10
ESSAR GROUP SIGNS DEAL FOR INDONESIAN COAL MINE - BUSINESS LINE
Looking ahead
The coal from the Indonesian mine would provide raw material to the group's power projects
The Aries coal mines acquired by the gro ...
Thursday, 25 March 10
CHINA RAILWAY WINS $4.8 BILLION INDONESIA PROJECT - BLOOMBERG
Bloomberg reported that, China Railway Group Ltd. won a $4.8 billion order from PT Bukit Asam, Indonesia’s state-owned coal producer, for a co ...
Thursday, 25 March 10
INDIAS MAHARASHTRA SEEKS TO IMPORT 3.35 MILLION TONS OF COAL - BLOOMBERG
Bloomberg reported that, Maharashtra State Power Generation Co., a provider of electricity to India’s commercial hub Mumbai, is seeking 3.35 m ...
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- SMC Global Power, Philippines
- Power Finance Corporation Ltd., India
- Global Business Power Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Baramulti Group, Indonesia
- Agrawal Coal Company - India
- Aditya Birla Group - India
- Bayan Resources Tbk. - Indonesia
- Mercator Lines Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Holcim Trading Pte Ltd - Singapore
- Aboitiz Power Corporation - Philippines
- Ministry of Finance - Indonesia
- Attock Cement Pakistan Limited
- London Commodity Brokers - England
- Independent Power Producers Association of India
- Kalimantan Lumbung Energi - Indonesia
- PNOC Exploration Corporation - Philippines
- Indonesian Coal Mining Association
- Bhoruka Overseas - Indonesia
- Sical Logistics Limited - India
- Kaltim Prima Coal - Indonesia
- Star Paper Mills Limited - India
- Globalindo Alam Lestari - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Gujarat Sidhee Cement - India
- Formosa Plastics Group - Taiwan
- Mercuria Energy - Indonesia
- Energy Development Corp, Philippines
- SMG Consultants - Indonesia
- Metalloyd Limited - United Kingdom
- Jaiprakash Power Ventures ltd
- Mjunction Services Limited - India
- VISA Power Limited - India
- Electricity Generating Authority of Thailand
- Ind-Barath Power Infra Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Carbofer General Trading SA - India
- LBH Netherlands Bv - Netherlands
- Kapuas Tunggal Persada - Indonesia
- Orica Australia Pty. Ltd.
- Kideco Jaya Agung - Indonesia
- Parry Sugars Refinery, India
- Bhatia International Limited - India
- ASAPP Information Group - India
- CIMB Investment Bank - Malaysia
- MS Steel International - UAE
- Gujarat Mineral Development Corp Ltd - India
- Timah Investasi Mineral - Indoneisa
- Posco Energy - South Korea
- Africa Commodities Group - South Africa
- Xindia Steels Limited - India
- Ceylon Electricity Board - Sri Lanka
- Kartika Selabumi Mining - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Vedanta Resources Plc - India
- Borneo Indobara - Indonesia
- The State Trading Corporation of India Ltd
- Kobexindo Tractors - Indoneisa
- Sree Jayajothi Cements Limited - India
- Essar Steel Hazira Ltd - India
- Tamil Nadu electricity Board
- Indian Oil Corporation Limited
- Neyveli Lignite Corporation Ltd, - India
- Planning Commission, India
- Barasentosa Lestari - Indonesia
- Bukit Makmur.PT - Indonesia
- Interocean Group of Companies - India
- Vijayanagar Sugar Pvt Ltd - India
- Malabar Cements Ltd - India
- Port Waratah Coal Services - Australia
- Singapore Mercantile Exchange
- Merrill Lynch Commodities Europe
- GMR Energy Limited - India
- IHS Mccloskey Coal Group - USA
- Chettinad Cement Corporation Ltd - India
- Meenaskhi Energy Private Limited - India
- Thiess Contractors Indonesia
- Pendopo Energi Batubara - Indonesia
- Australian Coal Association
- Uttam Galva Steels Limited - India
- Chamber of Mines of South Africa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Binh Thuan Hamico - Vietnam
- Maheswari Brothers Coal Limited - India
- Parliament of New Zealand
- Energy Link Ltd, New Zealand
- Dalmia Cement Bharat India
- Riau Bara Harum - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Ambuja Cements Ltd - India
- CNBM International Corporation - China
- PowerSource Philippines DevCo
- Romanian Commodities Exchange
- Sinarmas Energy and Mining - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Eastern Energy - Thailand
- Miang Besar Coal Terminal - Indonesia
- Price Waterhouse Coopers - Russia
- Makarim & Taira - Indonesia
- PTC India Limited - India
- Deloitte Consulting - India
- Georgia Ports Authority, United States
- The Treasury - Australian Government
- International Coal Ventures Pvt Ltd - India
- Tata Chemicals Ltd - India
- Standard Chartered Bank - UAE
- New Zealand Coal & Carbon
- White Energy Company Limited
- Trasteel International SA, Italy
- Sojitz Corporation - Japan
- Kohat Cement Company Ltd. - Pakistan
- Savvy Resources Ltd - HongKong
- Petron Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- IEA Clean Coal Centre - UK
- Kepco SPC Power Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Oldendorff Carriers - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Commonwealth Bank - Australia
- Karaikal Port Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Grasim Industreis Ltd - India
- Minerals Council of Australia
- Bangladesh Power Developement Board
- Samtan Co., Ltd - South Korea
- Larsen & Toubro Limited - India
- Wood Mackenzie - Singapore
- McConnell Dowell - Australia
- Alfred C Toepfer International GmbH - Germany
- Altura Mining Limited, Indonesia
- Coalindo Energy - Indonesia
- Goldman Sachs - Singapore
- Global Coal Blending Company Limited - Australia
- Edison Trading Spa - Italy
- Simpson Spence & Young - Indonesia
- Wilmar Investment Holdings
- Straits Asia Resources Limited - Singapore
- Therma Luzon, Inc, Philippines
- Lanco Infratech Ltd - India
- Indian Energy Exchange, India
- Medco Energi Mining Internasional
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Antam Resourcindo - Indonesia
- Cement Manufacturers Association - India
- Ministry of Transport, Egypt
- Indo Tambangraya Megah - Indonesia
- Kumho Petrochemical, South Korea
- Coastal Gujarat Power Limited - India
- Renaissance Capital - South Africa
- Bulk Trading Sa - Switzerland
- San Jose City I Power Corp, Philippines
- India Bulls Power Limited - India
- Anglo American - United Kingdom
- Bhushan Steel Limited - India
- Economic Council, Georgia
- Rashtriya Ispat Nigam Limited - India
- Ministry of Mines - Canada
- Australian Commodity Traders Exchange
- Directorate General of MIneral and Coal - Indonesia
- Central Electricity Authority - India
- Mintek Dendrill Indonesia
- European Bulk Services B.V. - Netherlands
- Iligan Light & Power Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- ICICI Bank Limited - India
- Orica Mining Services - Indonesia
- Vizag Seaport Private Limited - India
- SN Aboitiz Power Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- OPG Power Generation Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Indika Energy - Indonesia
- Thai Mozambique Logistica
- Banpu Public Company Limited - Thailand
- Siam City Cement PLC, Thailand
- South Luzon Thermal Energy Corporation
- Semirara Mining Corp, Philippines
- Global Green Power PLC Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Central Java Power - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Sakthi Sugars Limited - India
- Madhucon Powers Ltd - India
- Salva Resources Pvt Ltd - India
- Siam City Cement - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Heidelberg Cement - Germany
- Indogreen Group - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- The University of Queensland
- Meralco Power Generation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GVK Power & Infra Limited - India
- Leighton Contractors Pty Ltd - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Eastern Coal Council - USA
- Latin American Coal - Colombia
- Petrochimia International Co. Ltd.- Taiwan
- PetroVietnam Power Coal Import and Supply Company
- TeaM Sual Corporation - Philippines
- Marubeni Corporation - India
- Electricity Authority, New Zealand
- Intertek Mineral Services - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Bharathi Cement Corporation - India
- Videocon Industries ltd - India
- Coal and Oil Company - UAE
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Rio Tinto Coal - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
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