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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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Wednesday, 03 February 10
RECOVERY IN INDONESIAN MINING SECTOR EXPECTED TO BOOST SALES, UNITED TRACTORS SAYS
PT United Tractors, the country’s biggest supplier of heavy equipment, said on Tuesday that it expected sales to increase 15 percent this year ...
Tuesday, 02 February 10
THAI BANPU SAYS HIGHER COSTS TO HIT COAL PROFITS
Thailand's top coal miner, expects profits from its coal business in 2010 to be lower than last year due to higher costs, but its chief executive i ...
Monday, 01 February 10
CIL PLANS TO INVEST IN OVERSEAS COAL MINES
Over the next 10 years, CIL expects to import from these mines at least 500 million tonnes of thermal coal, a variety used by power plants
The bo ...
Sunday, 31 January 10
AUSTRALIA NEWCASTLE THERMAL COAL FALLS 0.7 PERCENT TO $ 98.53
Power-station coal prices at Australia’s Newcastle port, a benchmark for Asia, declined 0.7 percent, falling for the first time in four weeks. ...
Sunday, 31 January 10
NTPC TO IMPORT COAL
NTPC Ltd plans to import coal directly, starting next fiscal.
“We plan to import 15-16 million tonnes of coal directly from next year,&rdqu ...
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- Independent Power Producers Association of India
- Uttam Galva Steels Limited - India
- Antam Resourcindo - Indonesia
- Tamil Nadu electricity Board
- Kobexindo Tractors - Indoneisa
- Economic Council, Georgia
- TeaM Sual Corporation - Philippines
- AsiaOL BioFuels Corp., Philippines
- Kideco Jaya Agung - Indonesia
- IHS Mccloskey Coal Group - USA
- PetroVietnam Power Coal Import and Supply Company
- Medco Energi Mining Internasional
- Indian Oil Corporation Limited
- Aditya Birla Group - India
- Bukit Makmur.PT - Indonesia
- Therma Luzon, Inc, Philippines
- Cement Manufacturers Association - India
- Baramulti Group, Indonesia
- Dalmia Cement Bharat India
- Energy Development Corp, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Coal and Oil Company - UAE
- Kapuas Tunggal Persada - Indonesia
- Timah Investasi Mineral - Indoneisa
- Anglo American - United Kingdom
- Singapore Mercantile Exchange
- Sical Logistics Limited - India
- Global Green Power PLC Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Gujarat Mineral Development Corp Ltd - India
- London Commodity Brokers - England
- Mercator Lines Limited - India
- SN Aboitiz Power Inc, Philippines
- Standard Chartered Bank - UAE
- South Luzon Thermal Energy Corporation
- Wood Mackenzie - Singapore
- SMG Consultants - Indonesia
- India Bulls Power Limited - India
- Planning Commission, India
- Commonwealth Bank - Australia
- Tata Chemicals Ltd - India
- Sindya Power Generating Company Private Ltd
- Price Waterhouse Coopers - Russia
- Goldman Sachs - Singapore
- Metalloyd Limited - United Kingdom
- Salva Resources Pvt Ltd - India
- ICICI Bank Limited - India
- Sarangani Energy Corporation, Philippines
- The University of Queensland
- Electricity Generating Authority of Thailand
- Eastern Coal Council - USA
- Wilmar Investment Holdings
- Vizag Seaport Private Limited - India
- Siam City Cement PLC, Thailand
- Meenaskhi Energy Private Limited - India
- Kumho Petrochemical, South Korea
- Samtan Co., Ltd - South Korea
- Madhucon Powers Ltd - India
- Parry Sugars Refinery, India
- The Treasury - Australian Government
- Jorong Barutama Greston.PT - Indonesia
- Orica Mining Services - Indonesia
- Barasentosa Lestari - Indonesia
- Aboitiz Power Corporation - Philippines
- Deloitte Consulting - India
- Kaltim Prima Coal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- White Energy Company Limited
- Semirara Mining and Power Corporation, Philippines
- New Zealand Coal & Carbon
- Marubeni Corporation - India
- Parliament of New Zealand
- Krishnapatnam Port Company Ltd. - India
- Malabar Cements Ltd - India
- Central Java Power - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Sojitz Corporation - Japan
- San Jose City I Power Corp, Philippines
- Lanco Infratech Ltd - India
- Savvy Resources Ltd - HongKong
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Oldendorff Carriers - Singapore
- Indonesian Coal Mining Association
- Bukit Asam (Persero) Tbk - Indonesia
- Formosa Plastics Group - Taiwan
- Siam City Cement - Thailand
- Chettinad Cement Corporation Ltd - India
- Bulk Trading Sa - Switzerland
- European Bulk Services B.V. - Netherlands
- Bhoruka Overseas - Indonesia
- Heidelberg Cement - Germany
- Vijayanagar Sugar Pvt Ltd - India
- Posco Energy - South Korea
- Kalimantan Lumbung Energi - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Interocean Group of Companies - India
- Ministry of Transport, Egypt
- Bhushan Steel Limited - India
- Jaiprakash Power Ventures ltd
- Energy Link Ltd, New Zealand
- Ministry of Finance - Indonesia
- Attock Cement Pakistan Limited
- Global Business Power Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Merrill Lynch Commodities Europe
- VISA Power Limited - India
- CIMB Investment Bank - Malaysia
- PNOC Exploration Corporation - Philippines
- Ambuja Cements Ltd - India
- Chamber of Mines of South Africa
- Simpson Spence & Young - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Meralco Power Generation, Philippines
- Electricity Authority, New Zealand
- Ministry of Mines - Canada
- Australian Commodity Traders Exchange
- Larsen & Toubro Limited - India
- Ceylon Electricity Board - Sri Lanka
- Indian Energy Exchange, India
- Maharashtra Electricity Regulatory Commission - India
- Kartika Selabumi Mining - Indonesia
- OPG Power Generation Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Global Coal Blending Company Limited - Australia
- Thai Mozambique Logistica
- Rashtriya Ispat Nigam Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Asmin Koalindo Tuhup - Indonesia
- Thiess Contractors Indonesia
- Mercuria Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Altura Mining Limited, Indonesia
- GVK Power & Infra Limited - India
- Jindal Steel & Power Ltd - India
- Leighton Contractors Pty Ltd - Australia
- IEA Clean Coal Centre - UK
- GMR Energy Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Intertek Mineral Services - Indonesia
- Bharathi Cement Corporation - India
- Sakthi Sugars Limited - India
- Iligan Light & Power Inc, Philippines
- Semirara Mining Corp, Philippines
- LBH Netherlands Bv - Netherlands
- Power Finance Corporation Ltd., India
- Latin American Coal - Colombia
- Pipit Mutiara Jaya. PT, Indonesia
- Renaissance Capital - South Africa
- Trasteel International SA, Italy
- Ind-Barath Power Infra Limited - India
- Petron Corporation, Philippines
- Mintek Dendrill Indonesia
- Directorate Of Revenue Intelligence - India
- Edison Trading Spa - Italy
- Xindia Steels Limited - India
- Miang Besar Coal Terminal - Indonesia
- Agrawal Coal Company - India
- Globalindo Alam Lestari - Indonesia
- Mjunction Services Limited - India
- Bukit Baiduri Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Orica Australia Pty. Ltd.
- Central Electricity Authority - India
- McConnell Dowell - Australia
- Port Waratah Coal Services - Australia
- Directorate General of MIneral and Coal - Indonesia
- Videocon Industries ltd - India
- Gujarat Electricity Regulatory Commission - India
- PTC India Limited - India
- Vedanta Resources Plc - India
- Borneo Indobara - Indonesia
- Australian Coal Association
- Riau Bara Harum - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Star Paper Mills Limited - India
- Karaikal Port Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- GAC Shipping (India) Pvt Ltd
- International Coal Ventures Pvt Ltd - India
- Indogreen Group - Indonesia
- Bangladesh Power Developement Board
- Indika Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Binh Thuan Hamico - Vietnam
- Banpu Public Company Limited - Thailand
- Coastal Gujarat Power Limited - India
- PowerSource Philippines DevCo
- Bayan Resources Tbk. - Indonesia
- Kepco SPC Power Corporation, Philippines
- ASAPP Information Group - India
- Carbofer General Trading SA - India
- Petrochimia International Co. Ltd.- Taiwan
- Bhatia International Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Eastern Energy - Thailand
- Rio Tinto Coal - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- MS Steel International - UAE
- Alfred C Toepfer International GmbH - Germany
- Gujarat Sidhee Cement - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- CNBM International Corporation - China
- Coalindo Energy - Indonesia
- The State Trading Corporation of India Ltd
- Romanian Commodities Exchange
- Grasim Industreis Ltd - India
- Makarim & Taira - Indonesia
- Essar Steel Hazira Ltd - India
- SMC Global Power, Philippines
- Indo Tambangraya Megah - Indonesia
- Manunggal Multi Energi - Indonesia
- Toyota Tsusho Corporation, Japan
- Minerals Council of Australia
- Africa Commodities Group - South Africa
- Georgia Ports Authority, United States
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