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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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Tuesday, 12 January 10
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- CNBM International Corporation - China
- SN Aboitiz Power Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- SMG Consultants - Indonesia
- Sree Jayajothi Cements Limited - India
- Global Green Power PLC Corporation, Philippines
- Interocean Group of Companies - India
- Meenaskhi Energy Private Limited - India
- Eastern Coal Council - USA
- Vizag Seaport Private Limited - India
- Larsen & Toubro Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Australian Coal Association
- Karbindo Abesyapradhi - Indoneisa
- Sical Logistics Limited - India
- PNOC Exploration Corporation - Philippines
- Romanian Commodities Exchange
- Mercator Lines Limited - India
- PTC India Limited - India
- Xindia Steels Limited - India
- San Jose City I Power Corp, Philippines
- Sarangani Energy Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- LBH Netherlands Bv - Netherlands
- Star Paper Mills Limited - India
- Chettinad Cement Corporation Ltd - India
- Ministry of Transport, Egypt
- Mintek Dendrill Indonesia
- Parry Sugars Refinery, India
- GN Power Mariveles Coal Plant, Philippines
- Barasentosa Lestari - Indonesia
- IEA Clean Coal Centre - UK
- OPG Power Generation Pvt Ltd - India
- Siam City Cement PLC, Thailand
- AsiaOL BioFuels Corp., Philippines
- Oldendorff Carriers - Singapore
- Africa Commodities Group - South Africa
- Semirara Mining Corp, Philippines
- Price Waterhouse Coopers - Russia
- Mercuria Energy - Indonesia
- Latin American Coal - Colombia
- Holcim Trading Pte Ltd - Singapore
- Binh Thuan Hamico - Vietnam
- Energy Development Corp, Philippines
- Heidelberg Cement - Germany
- Grasim Industreis Ltd - India
- Straits Asia Resources Limited - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Petrochimia International Co. Ltd.- Taiwan
- Semirara Mining and Power Corporation, Philippines
- The Treasury - Australian Government
- The University of Queensland
- Savvy Resources Ltd - HongKong
- Georgia Ports Authority, United States
- Ambuja Cements Ltd - India
- Indonesian Coal Mining Association
- New Zealand Coal & Carbon
- PetroVietnam Power Coal Import and Supply Company
- Malabar Cements Ltd - India
- Sakthi Sugars Limited - India
- Metalloyd Limited - United Kingdom
- Commonwealth Bank - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Independent Power Producers Association of India
- PowerSource Philippines DevCo
- Offshore Bulk Terminal Pte Ltd, Singapore
- Orica Australia Pty. Ltd.
- Parliament of New Zealand
- Global Business Power Corporation, Philippines
- Lanco Infratech Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Indika Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- White Energy Company Limited
- Pendopo Energi Batubara - Indonesia
- India Bulls Power Limited - India
- Singapore Mercantile Exchange
- Trasteel International SA, Italy
- Medco Energi Mining Internasional
- South Luzon Thermal Energy Corporation
- Wood Mackenzie - Singapore
- Ministry of Finance - Indonesia
- Formosa Plastics Group - Taiwan
- Toyota Tsusho Corporation, Japan
- SMC Global Power, Philippines
- Aditya Birla Group - India
- Indo Tambangraya Megah - Indonesia
- Coal and Oil Company - UAE
- Iligan Light & Power Inc, Philippines
- Tamil Nadu electricity Board
- Kapuas Tunggal Persada - Indonesia
- Posco Energy - South Korea
- Australian Commodity Traders Exchange
- Billiton Holdings Pty Ltd - Australia
- Jorong Barutama Greston.PT - Indonesia
- Thiess Contractors Indonesia
- Indian Energy Exchange, India
- Essar Steel Hazira Ltd - India
- Aboitiz Power Corporation - Philippines
- European Bulk Services B.V. - Netherlands
- Siam City Cement - Thailand
- Kepco SPC Power Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GMR Energy Limited - India
- ICICI Bank Limited - India
- Bhoruka Overseas - Indonesia
- Indian Oil Corporation Limited
- GAC Shipping (India) Pvt Ltd
- Gujarat Sidhee Cement - India
- Petron Corporation, Philippines
- Energy Link Ltd, New Zealand
- CIMB Investment Bank - Malaysia
- Gujarat Electricity Regulatory Commission - India
- Vijayanagar Sugar Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Sojitz Corporation - Japan
- Manunggal Multi Energi - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Edison Trading Spa - Italy
- London Commodity Brokers - England
- Jaiprakash Power Ventures ltd
- Banpu Public Company Limited - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Renaissance Capital - South Africa
- Madhucon Powers Ltd - India
- Kartika Selabumi Mining - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Coastal Gujarat Power Limited - India
- Meralco Power Generation, Philippines
- Makarim & Taira - Indonesia
- Anglo American - United Kingdom
- Economic Council, Georgia
- Kohat Cement Company Ltd. - Pakistan
- Chamber of Mines of South Africa
- Krishnapatnam Port Company Ltd. - India
- TeaM Sual Corporation - Philippines
- Dalmia Cement Bharat India
- Timah Investasi Mineral - Indoneisa
- VISA Power Limited - India
- GVK Power & Infra Limited - India
- Planning Commission, India
- Port Waratah Coal Services - Australia
- Deloitte Consulting - India
- Ceylon Electricity Board - Sri Lanka
- Asmin Koalindo Tuhup - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Altura Mining Limited, Indonesia
- Riau Bara Harum - Indonesia
- Electricity Generating Authority of Thailand
- Eastern Energy - Thailand
- Vedanta Resources Plc - India
- Miang Besar Coal Terminal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Thai Mozambique Logistica
- Salva Resources Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Standard Chartered Bank - UAE
- Rio Tinto Coal - Australia
- Central Java Power - Indonesia
- Central Electricity Authority - India
- Directorate General of MIneral and Coal - Indonesia
- Videocon Industries ltd - India
- Marubeni Corporation - India
- IHS Mccloskey Coal Group - USA
- Electricity Authority, New Zealand
- Wilmar Investment Holdings
- Agrawal Coal Company - India
- Kideco Jaya Agung - Indonesia
- Power Finance Corporation Ltd., India
- Sindya Power Generating Company Private Ltd
- Kaltim Prima Coal - Indonesia
- Goldman Sachs - Singapore
- Baramulti Group, Indonesia
- McConnell Dowell - Australia
- Jindal Steel & Power Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Orica Mining Services - Indonesia
- Simpson Spence & Young - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Indogreen Group - Indonesia
- Therma Luzon, Inc, Philippines
- Bhatia International Limited - India
- Gujarat Mineral Development Corp Ltd - India
- ASAPP Information Group - India
- Mjunction Services Limited - India
- Directorate Of Revenue Intelligence - India
- Coalindo Energy - Indonesia
- Borneo Indobara - Indonesia
- Karaikal Port Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Bukit Makmur.PT - Indonesia
- The State Trading Corporation of India Ltd
- Kumho Petrochemical, South Korea
- Minerals Council of Australia
- Kobexindo Tractors - Indoneisa
- International Coal Ventures Pvt Ltd - India
- Attock Cement Pakistan Limited
- Cement Manufacturers Association - India
- Maharashtra Electricity Regulatory Commission - India
- Bharathi Cement Corporation - India
- Bangladesh Power Developement Board
- Ministry of Mines - Canada
- Antam Resourcindo - Indonesia
- Ind-Barath Power Infra Limited - India
- Carbofer General Trading SA - India
- Tata Chemicals Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Maheswari Brothers Coal Limited - India
- Uttam Galva Steels Limited - India
- Bhushan Steel Limited - India
- MS Steel International - UAE
- Bulk Trading Sa - Switzerland
- Global Coal Blending Company Limited - Australia
- Bukit Baiduri Energy - Indonesia
- Intertek Mineral Services - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
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