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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, 07 January 10
INDONESIAS COAL OUTPUT MAY RISE TO 309 MILLION TONS IN 2014 - BLOOMBERG
Indonesia’s coal production may rise to 309 million tons by 2014 from an estimated 250 million tons this year, Bambang Setiawan, director-gene ...
Wednesday, 06 January 10
RICHARDS BAY SAYS 46% OF COAL EXPORTS WENT TO EUROPE
Richards Bay Coal Terminal, through which almost all of South Africa’s coal exports are routed, said 46 percent of the coal it exported in 200 ...
Wednesday, 06 January 10
CHINA-AUSTRALIA INVESTMENT TIES SEEN IMPROVING IN 2010
Australia and China showed a united front in a bid to improve investment ties as they signed a $3-billion coal deal on Wednesday, following a rocky ...
Wednesday, 06 January 10
INVESTMENT IN MINING TO TOP $2.5B IN 2010
The government plans to invest US$2.5 billion in the mining sector, an official said Tuesday.
Bambang Setiawan, the director general of mineral r ...
Wednesday, 06 January 10
SAS 2009 COAL EXPORTS THROUGH RBCT FLAT AT 61MT
Exports through South Africa’s Richards Bay Coal Terminal (RBCT) remained flat in 2009, as the terminal faced “critical business challen ...
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- Price Waterhouse Coopers - Russia
- Bahari Cakrawala Sebuku - Indonesia
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- Mintek Dendrill Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
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- Essar Steel Hazira Ltd - India
- VISA Power Limited - India
- Energy Link Ltd, New Zealand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Siam City Cement - Thailand
- Heidelberg Cement - Germany
- International Coal Ventures Pvt Ltd - India
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- Mercuria Energy - Indonesia
- New Zealand Coal & Carbon
- Sindya Power Generating Company Private Ltd
- Iligan Light & Power Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Makarim & Taira - Indonesia
- Indika Energy - Indonesia
- Africa Commodities Group - South Africa
- Directorate Of Revenue Intelligence - India
- Bukit Asam (Persero) Tbk - Indonesia
- Ministry of Finance - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- GMR Energy Limited - India
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- Meenaskhi Energy Private Limited - India
- Jaiprakash Power Ventures ltd
- Borneo Indobara - Indonesia
- Kepco SPC Power Corporation, Philippines
- Eastern Coal Council - USA
- CIMB Investment Bank - Malaysia
- The University of Queensland
- Trasteel International SA, Italy
- Electricity Authority, New Zealand
- Ceylon Electricity Board - Sri Lanka
- Binh Thuan Hamico - Vietnam
- Romanian Commodities Exchange
- Global Coal Blending Company Limited - Australia
- Leighton Contractors Pty Ltd - Australia
- OPG Power Generation Pvt Ltd - India
- Mercator Lines Limited - India
- Antam Resourcindo - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Meralco Power Generation, Philippines
- Standard Chartered Bank - UAE
- Metalloyd Limited - United Kingdom
- Vedanta Resources Plc - India
- Sojitz Corporation - Japan
- Ambuja Cements Ltd - India
- Toyota Tsusho Corporation, Japan
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- Timah Investasi Mineral - Indoneisa
- Sarangani Energy Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Carbofer General Trading SA - India
- Central Java Power - Indonesia
- Bulk Trading Sa - Switzerland
- South Luzon Thermal Energy Corporation
- IEA Clean Coal Centre - UK
- The Treasury - Australian Government
- Rio Tinto Coal - Australia
- Barasentosa Lestari - Indonesia
- Goldman Sachs - Singapore
- Anglo American - United Kingdom
- Vizag Seaport Private Limited - India
- Savvy Resources Ltd - HongKong
- SN Aboitiz Power Inc, Philippines
- Bangladesh Power Developement Board
- SMG Consultants - Indonesia
- Medco Energi Mining Internasional
- Rashtriya Ispat Nigam Limited - India
- Maheswari Brothers Coal Limited - India
- LBH Netherlands Bv - Netherlands
- Australian Commodity Traders Exchange
- Baramulti Group, Indonesia
- Malabar Cements Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Wood Mackenzie - Singapore
- Bhatia International Limited - India
- Edison Trading Spa - Italy
- Globalindo Alam Lestari - Indonesia
- Formosa Plastics Group - Taiwan
- Bhoruka Overseas - Indonesia
- GVK Power & Infra Limited - India
- Coal and Oil Company - UAE
- Deloitte Consulting - India
- European Bulk Services B.V. - Netherlands
- Thai Mozambique Logistica
- Maharashtra Electricity Regulatory Commission - India
- Altura Mining Limited, Indonesia
- Oldendorff Carriers - Singapore
- Planning Commission, India
- Bukit Makmur.PT - Indonesia
- Star Paper Mills Limited - India
- Central Electricity Authority - India
- Ministry of Transport, Egypt
- Kaltim Prima Coal - Indonesia
- Siam City Cement PLC, Thailand
- Simpson Spence & Young - Indonesia
- SMC Global Power, Philippines
- Kartika Selabumi Mining - Indonesia
- Interocean Group of Companies - India
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- Offshore Bulk Terminal Pte Ltd, Singapore
- Agrawal Coal Company - India
- Kumho Petrochemical, South Korea
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- Posco Energy - South Korea
- Kalimantan Lumbung Energi - Indonesia
- Dalmia Cement Bharat India
- Larsen & Toubro Limited - India
- San Jose City I Power Corp, Philippines
- Thiess Contractors Indonesia
- McConnell Dowell - Australia
- PNOC Exploration Corporation - Philippines
- Commonwealth Bank - Australia
- GN Power Mariveles Coal Plant, Philippines
- Eastern Energy - Thailand
- Therma Luzon, Inc, Philippines
- Orica Mining Services - Indonesia
- Kideco Jaya Agung - Indonesia
- Ministry of Mines - Canada
- Gujarat Electricity Regulatory Commission - India
- Cement Manufacturers Association - India
- Global Business Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Minerals Council of Australia
- Karbindo Abesyapradhi - Indoneisa
- Cigading International Bulk Terminal - Indonesia
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- Independent Power Producers Association of India
- Tamil Nadu electricity Board
- Chettinad Cement Corporation Ltd - India
- Chamber of Mines of South Africa
- Attock Cement Pakistan Limited
- Merrill Lynch Commodities Europe
- Coalindo Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Power Finance Corporation Ltd., India
- Ind-Barath Power Infra Limited - India
- Krishnapatnam Port Company Ltd. - India
- Global Green Power PLC Corporation, Philippines
- Tata Chemicals Ltd - India
- Indonesian Coal Mining Association
- Alfred C Toepfer International GmbH - Germany
- TNB Fuel Sdn Bhd - Malaysia
- Coastal Gujarat Power Limited - India
- CNBM International Corporation - China
- Indo Tambangraya Megah - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Indogreen Group - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Sical Logistics Limited - India
- Port Waratah Coal Services - Australia
- Bukit Baiduri Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Georgia Ports Authority, United States
- Jindal Steel & Power Ltd - India
- PTC India Limited - India
- Energy Development Corp, Philippines
- Kobexindo Tractors - Indoneisa
- Riau Bara Harum - Indonesia
- Uttam Galva Steels Limited - India
- Orica Australia Pty. Ltd.
- Pipit Mutiara Jaya. PT, Indonesia
- IHS Mccloskey Coal Group - USA
- Lanco Infratech Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Karaikal Port Pvt Ltd - India
- Renaissance Capital - South Africa
- AsiaOL BioFuels Corp., Philippines
- Indian Energy Exchange, India
- Bharathi Cement Corporation - India
- Banpu Public Company Limited - Thailand
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- Marubeni Corporation - India
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- Wilmar Investment Holdings
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- PowerSource Philippines DevCo
- Australian Coal Association
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- Billiton Holdings Pty Ltd - Australia
- Xindia Steels Limited - India
- Singapore Mercantile Exchange
- Semirara Mining and Power Corporation, Philippines
- Madhucon Powers Ltd - India
- Economic Council, Georgia
- White Energy Company Limited
- Parry Sugars Refinery, India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Gujarat Sidhee Cement - India
- Grasim Industreis Ltd - India
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- Indian Oil Corporation Limited
- Asmin Koalindo Tuhup - Indonesia
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- Videocon Industries ltd - India
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- MS Steel International - UAE
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