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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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Saturday, 12 December 09
INDONESIA'S COAL RUSH - SOOTY SUCCESS
Rising demand from China and India is stoking Indonesia’s exports of coal
FOR power stations on the coast of China, it is often cheaper to ...
Thursday, 10 December 09
ENVIROCOAL REGISTERED IN 33 COUNTRIES
PT Adaro concerned to register the brand overseas
PT Adaro Energy Tbk has registered the Envirocoal trademark for its coal products in 33 countri ...
Thursday, 10 December 09
INDIA TO IMPORT 28 MILLION TONNE OF STEAM COAL
Faced with short supply of coal from domestic sources, the Indian power ministry has revised upwards its coal import target for the current fiscal t ...
Thursday, 10 December 09
INDONESIA'S NEW MINING LAW WILL NOT LIMIT COAL EXPORTS, SAYS GOVERNMENT
The government will allow coal producers to continue exporting even if they miss domestic sales requirements, a senior mining official said, marking ...
Wednesday, 09 December 09
INDONESIA'S RECAPITAL TO PAY $1.48 BLN FOR BERAU
Recapital Advisors, an Indonesian investment firm, will pay $1.48 billion in cash and notes to buy coal miner PT Berau Coal, $300 million of which i ...
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- Ceylon Electricity Board - Sri Lanka
- Attock Cement Pakistan Limited
- Bhatia International Limited - India
- Indogreen Group - Indonesia
- Kumho Petrochemical, South Korea
- McConnell Dowell - Australia
- Price Waterhouse Coopers - Russia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Riau Bara Harum - Indonesia
- Intertek Mineral Services - Indonesia
- Salva Resources Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Bukit Baiduri Energy - Indonesia
- Lanco Infratech Ltd - India
- Africa Commodities Group - South Africa
- Kartika Selabumi Mining - Indonesia
- Vizag Seaport Private Limited - India
- Ministry of Finance - Indonesia
- Sojitz Corporation - Japan
- Malabar Cements Ltd - India
- Australian Commodity Traders Exchange
- Latin American Coal - Colombia
- Meralco Power Generation, Philippines
- SMG Consultants - Indonesia
- Barasentosa Lestari - Indonesia
- Romanian Commodities Exchange
- VISA Power Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Cement Manufacturers Association - India
- San Jose City I Power Corp, Philippines
- Bharathi Cement Corporation - India
- The Treasury - Australian Government
- Simpson Spence & Young - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Marubeni Corporation - India
- Standard Chartered Bank - UAE
- Tamil Nadu electricity Board
- Coastal Gujarat Power Limited - India
- Jaiprakash Power Ventures ltd
- Xindia Steels Limited - India
- Indian Energy Exchange, India
- Manunggal Multi Energi - Indonesia
- Merrill Lynch Commodities Europe
- Trasteel International SA, Italy
- Semirara Mining and Power Corporation, Philippines
- Central Electricity Authority - India
- Aditya Birla Group - India
- Ambuja Cements Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Straits Asia Resources Limited - Singapore
- Mercuria Energy - Indonesia
- Independent Power Producers Association of India
- Oldendorff Carriers - Singapore
- Port Waratah Coal Services - Australia
- Goldman Sachs - Singapore
- Singapore Mercantile Exchange
- Global Green Power PLC Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Baramulti Group, Indonesia
- Toyota Tsusho Corporation, Japan
- Krishnapatnam Port Company Ltd. - India
- Parliament of New Zealand
- Bukit Makmur.PT - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sarangani Energy Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Samtan Co., Ltd - South Korea
- PTC India Limited - India
- Orica Mining Services - Indonesia
- Indian Oil Corporation Limited
- Indika Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Mercator Lines Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Bank of Tokyo Mitsubishi UFJ Ltd
- Miang Besar Coal Terminal - Indonesia
- Thiess Contractors Indonesia
- Ind-Barath Power Infra Limited - India
- Rio Tinto Coal - Australia
- Planning Commission, India
- Rashtriya Ispat Nigam Limited - India
- Bulk Trading Sa - Switzerland
- Vedanta Resources Plc - India
- Meenaskhi Energy Private Limited - India
- New Zealand Coal & Carbon
- GN Power Mariveles Coal Plant, Philippines
- Gujarat Electricity Regulatory Commission - India
- Parry Sugars Refinery, India
- PowerSource Philippines DevCo
- Kapuas Tunggal Persada - Indonesia
- Chettinad Cement Corporation Ltd - India
- CIMB Investment Bank - Malaysia
- GVK Power & Infra Limited - India
- Georgia Ports Authority, United States
- Therma Luzon, Inc, Philippines
- Siam City Cement PLC, Thailand
- Sindya Power Generating Company Private Ltd
- AsiaOL BioFuels Corp., Philippines
- Karbindo Abesyapradhi - Indoneisa
- South Luzon Thermal Energy Corporation
- Global Coal Blending Company Limited - Australia
- Deloitte Consulting - India
- Medco Energi Mining Internasional
- IEA Clean Coal Centre - UK
- Petron Corporation, Philippines
- Madhucon Powers Ltd - India
- Energy Development Corp, Philippines
- Power Finance Corporation Ltd., India
- Bahari Cakrawala Sebuku - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- SN Aboitiz Power Inc, Philippines
- Global Business Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Star Paper Mills Limited - India
- Metalloyd Limited - United Kingdom
- Holcim Trading Pte Ltd - Singapore
- Commonwealth Bank - Australia
- TeaM Sual Corporation - Philippines
- GAC Shipping (India) Pvt Ltd
- ICICI Bank Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- MS Steel International - UAE
- Eastern Coal Council - USA
- Mintek Dendrill Indonesia
- Globalindo Alam Lestari - Indonesia
- Bayan Resources Tbk. - Indonesia
- CNBM International Corporation - China
- White Energy Company Limited
- Bhoruka Overseas - Indonesia
- The State Trading Corporation of India Ltd
- Sakthi Sugars Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Coal and Oil Company - UAE
- IHS Mccloskey Coal Group - USA
- Bangladesh Power Developement Board
- Edison Trading Spa - Italy
- Borneo Indobara - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Electricity Authority, New Zealand
- LBH Netherlands Bv - Netherlands
- Directorate Of Revenue Intelligence - India
- Grasim Industreis Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Chamber of Mines of South Africa
- Agrawal Coal Company - India
- Ministry of Transport, Egypt
- Uttam Galva Steels Limited - India
- Antam Resourcindo - Indonesia
- Electricity Generating Authority of Thailand
- Pendopo Energi Batubara - Indonesia
- Formosa Plastics Group - Taiwan
- Gujarat Sidhee Cement - India
- Indonesian Coal Mining Association
- Minerals Council of Australia
- Aboitiz Power Corporation - Philippines
- GMR Energy Limited - India
- Kepco SPC Power Corporation, Philippines
- Carbofer General Trading SA - India
- Tata Chemicals Ltd - India
- Makarim & Taira - Indonesia
- ASAPP Information Group - India
- Karaikal Port Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Siam City Cement - Thailand
- PNOC Exploration Corporation - Philippines
- Larsen & Toubro Limited - India
- Coalindo Energy - Indonesia
- Jindal Steel & Power Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Alfred C Toepfer International GmbH - Germany
- Australian Coal Association
- International Coal Ventures Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Mjunction Services Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Directorate General of MIneral and Coal - Indonesia
- Altura Mining Limited, Indonesia
- Kaltim Prima Coal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Wood Mackenzie - Singapore
- The University of Queensland
- Indo Tambangraya Megah - Indonesia
- Iligan Light & Power Inc, Philippines
- Videocon Industries ltd - India
- Wilmar Investment Holdings
- Offshore Bulk Terminal Pte Ltd, Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Binh Thuan Hamico - Vietnam
- Thai Mozambique Logistica
- Eastern Energy - Thailand
- Kideco Jaya Agung - Indonesia
- Sical Logistics Limited - India
- Anglo American - United Kingdom
- Interocean Group of Companies - India
- Central Java Power - Indonesia
- Ministry of Mines - Canada
- Economic Council, Georgia
- London Commodity Brokers - England
- India Bulls Power Limited - India
- Essar Steel Hazira Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Posco Energy - South Korea
- Semirara Mining Corp, Philippines
- Savvy Resources Ltd - HongKong
- Renaissance Capital - South Africa
- Timah Investasi Mineral - Indoneisa
- Dalmia Cement Bharat India
- Kobexindo Tractors - Indoneisa
- Heidelberg Cement - Germany
- Energy Link Ltd, New Zealand
- Leighton Contractors Pty Ltd - Australia
- SMC Global Power, Philippines
- Bhushan Steel Limited - India
- Sree Jayajothi Cements Limited - India
- European Bulk Services B.V. - Netherlands
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