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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, 11 March 10
THE INDIAN MARKET WAS A BIT QUIET BUT STILL FIRM - FEARNLEYS AS
Handy - Atlantic activity has kept its firm tendency throughout the week for handies, with Atlantic RV´s fixed in the USD.16000 region. With s ...
Thursday, 11 March 10
COAL PRICES SET TO RISE AMID CONFUSION OVER QUARTERLY SYSTEM
Trading room reported that, Coal prices are tipped to rise in coming months amid constrained supply and ongoing Chinese demand, and analysts are con ...
Wednesday, 10 March 10
PROTECTED FORESTS NOW UP FOR GRABS FOR MINING
The Jakarta Post reported that, the government has just issued two new regulations on forests, which could allow protected forests to be used for co ...
Tuesday, 09 March 10
REGULATION NO.23 OF 2010 CONCERNING IMPLEMENTATION OF NEW MINING LAW, PROVIDES MORE CLARITY ON OBTAINING A IUP
COALspot.com: Indonesian government has recently issued another regulation related to Law number 4 of 2009 concerning mineral and coal mining. Two r ...
Tuesday, 09 March 10
MINING LAW OPTIMIZES SECTOR
Law No. 4 / 2009 on Mineral and Coal Mining have given a new direction for the future of mining in Indonesia, including Domestic Market Obligation, ...
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- Medco Energi Mining Internasional
- Aditya Birla Group - India
- Therma Luzon, Inc, Philippines
- Maheswari Brothers Coal Limited - India
- Grasim Industreis Ltd - India
- Central Electricity Authority - India
- Metalloyd Limited - United Kingdom
- CIMB Investment Bank - Malaysia
- Parry Sugars Refinery, India
- Semirara Mining and Power Corporation, Philippines
- Barasentosa Lestari - Indonesia
- SMG Consultants - Indonesia
- Ind-Barath Power Infra Limited - India
- Parliament of New Zealand
- GN Power Mariveles Coal Plant, Philippines
- Bangladesh Power Developement Board
- Bhoruka Overseas - Indonesia
- Sakthi Sugars Limited - India
- Baramulti Group, Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Attock Cement Pakistan Limited
- Tata Chemicals Ltd - India
- Posco Energy - South Korea
- Price Waterhouse Coopers - Russia
- PowerSource Philippines DevCo
- The University of Queensland
- Standard Chartered Bank - UAE
- Interocean Group of Companies - India
- Indika Energy - Indonesia
- Coalindo Energy - Indonesia
- Makarim & Taira - Indonesia
- Africa Commodities Group - South Africa
- Binh Thuan Hamico - Vietnam
- Coastal Gujarat Power Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Deloitte Consulting - India
- VISA Power Limited - India
- Energy Link Ltd, New Zealand
- SN Aboitiz Power Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Wood Mackenzie - Singapore
- Krishnapatnam Port Company Ltd. - India
- Star Paper Mills Limited - India
- San Jose City I Power Corp, Philippines
- IHS Mccloskey Coal Group - USA
- Rio Tinto Coal - Australia
- Kaltim Prima Coal - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Ministry of Finance - Indonesia
- Ministry of Mines - Canada
- Ceylon Electricity Board - Sri Lanka
- Antam Resourcindo - Indonesia
- Bulk Trading Sa - Switzerland
- Wilmar Investment Holdings
- Sree Jayajothi Cements Limited - India
- Kideco Jaya Agung - Indonesia
- PNOC Exploration Corporation - Philippines
- Rashtriya Ispat Nigam Limited - India
- Kobexindo Tractors - Indoneisa
- Bukit Asam (Persero) Tbk - Indonesia
- Central Java Power - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Mercuria Energy - Indonesia
- Lanco Infratech Ltd - India
- Trasteel International SA, Italy
- Anglo American - United Kingdom
- Directorate Of Revenue Intelligence - India
- Alfred C Toepfer International GmbH - Germany
- Riau Bara Harum - Indonesia
- Electricity Generating Authority of Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Coal and Oil Company - UAE
- Holcim Trading Pte Ltd - Singapore
- Meralco Power Generation, Philippines
- Port Waratah Coal Services - Australia
- Uttam Galva Steels Limited - India
- Aboitiz Power Corporation - Philippines
- PTC India Limited - India
- Formosa Plastics Group - Taiwan
- Energy Development Corp, Philippines
- Planning Commission, India
- OPG Power Generation Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Sarangani Energy Corporation, Philippines
- Independent Power Producers Association of India
- Bukit Baiduri Energy - Indonesia
- Merrill Lynch Commodities Europe
- Chamber of Mines of South Africa
- Leighton Contractors Pty Ltd - Australia
- Bhushan Steel Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Borneo Indobara - Indonesia
- GMR Energy Limited - India
- Sindya Power Generating Company Private Ltd
- Orica Mining Services - Indonesia
- Eastern Energy - Thailand
- Sojitz Corporation - Japan
- Mintek Dendrill Indonesia
- Oldendorff Carriers - Singapore
- Electricity Authority, New Zealand
- Siam City Cement PLC, Thailand
- SMC Global Power, Philippines
- Vizag Seaport Private Limited - India
- Kumho Petrochemical, South Korea
- Altura Mining Limited, Indonesia
- TeaM Sual Corporation - Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- IEA Clean Coal Centre - UK
- London Commodity Brokers - England
- Thiess Contractors Indonesia
- Gujarat Sidhee Cement - India
- Sical Logistics Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Neyveli Lignite Corporation Ltd, - India
- GAC Shipping (India) Pvt Ltd
- Georgia Ports Authority, United States
- Commonwealth Bank - Australia
- Singapore Mercantile Exchange
- Power Finance Corporation Ltd., India
- Petrochimia International Co. Ltd.- Taiwan
- Banpu Public Company Limited - Thailand
- Indo Tambangraya Megah - Indonesia
- Indian Oil Corporation Limited
- Bayan Resources Tbk. - Indonesia
- Marubeni Corporation - India
- GVK Power & Infra Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Tamil Nadu electricity Board
- Vedanta Resources Plc - India
- Bharathi Cement Corporation - India
- International Coal Ventures Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Toyota Tsusho Corporation, Japan
- The State Trading Corporation of India Ltd
- Orica Australia Pty. Ltd.
- Economic Council, Georgia
- Australian Coal Association
- Malabar Cements Ltd - India
- Semirara Mining Corp, Philippines
- Straits Asia Resources Limited - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- India Bulls Power Limited - India
- Mercator Lines Limited - India
- Agrawal Coal Company - India
- Bukit Makmur.PT - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Directorate General of MIneral and Coal - Indonesia
- Meenaskhi Energy Private Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Manunggal Multi Energi - Indonesia
- Savvy Resources Ltd - HongKong
- Jindal Steel & Power Ltd - India
- Kartika Selabumi Mining - Indonesia
- Goldman Sachs - Singapore
- Indonesian Coal Mining Association
- Essar Steel Hazira Ltd - India
- Indogreen Group - Indonesia
- European Bulk Services B.V. - Netherlands
- Latin American Coal - Colombia
- White Energy Company Limited
- Eastern Coal Council - USA
- Australian Commodity Traders Exchange
- Thai Mozambique Logistica
- Indian Energy Exchange, India
- CNBM International Corporation - China
- Timah Investasi Mineral - Indoneisa
- Videocon Industries ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Karbindo Abesyapradhi - Indoneisa
- Dalmia Cement Bharat India
- South Luzon Thermal Energy Corporation
- Billiton Holdings Pty Ltd - Australia
- Madhucon Powers Ltd - India
- Cement Manufacturers Association - India
- Iligan Light & Power Inc, Philippines
- Romanian Commodities Exchange
- Global Coal Blending Company Limited - Australia
- Renaissance Capital - South Africa
- Global Green Power PLC Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Jaiprakash Power Ventures ltd
- McConnell Dowell - Australia
- Heidelberg Cement - Germany
- Petron Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Siam City Cement - Thailand
- Salva Resources Pvt Ltd - India
- The Treasury - Australian Government
- ICICI Bank Limited - India
- Mjunction Services Limited - India
- Pendopo Energi Batubara - Indonesia
- Ambuja Cements Ltd - India
- Samtan Co., Ltd - South Korea
- ASAPP Information Group - India
- Gujarat Mineral Development Corp Ltd - India
- Simpson Spence & Young - Indonesia
- New Zealand Coal & Carbon
- Carbofer General Trading SA - India
- Edison Trading Spa - Italy
- MS Steel International - UAE
- Kepco SPC Power Corporation, Philippines
- Global Business Power Corporation, Philippines
- Larsen & Toubro Limited - India
- Xindia Steels Limited - India
- Ministry of Transport, Egypt
- Sinarmas Energy and Mining - Indonesia
- Bhatia International Limited - India
- Minerals Council of Australia
- Chettinad Cement Corporation Ltd - India
- Globalindo Alam Lestari - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
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