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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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Sunday, 22 November 09
SHORT PERIOD RATES FOR SUPRAMAX WAS AT US$ 25,000/26,000 PER DAY FOR VESSELS OPENING FAR EAST / SE ASIA - VISTAAR ANALYSIS
COALspot.com (Singapore): Analyised by Capt. Radhakrishnan Reddy, Managing Director of Vistaar Shipping Services, Singapore.
BDI hits a new high ...
Friday, 20 November 09
INDONESIA UNITED TRACTORS PLANS $430 MLN CAPEX IN 2010
Reuters reported that, Indonesian heavy equipment distributor and mining contractor PT United Tractors Tbk plans capital expenditure of $430 million ...
Friday, 20 November 09
DRY BULK SHIP OWNERS HOPE RALLY WILL LAST
Boon times are still on the daily agenda of every dry bulk ship owner these days after one of the toughest year in the industry’s century-old ...
Friday, 20 November 09
NTPC LOOKING FOR LONG TERM CONTRACTS FOR COAL IMPORT
Business Standard of India reported that, State run power firm NTPC today said it is looking for long-term supply of coal from overseas market to me ...
Friday, 20 November 09
CHINESE COKING COAL SUPPLY TO BE 'TIGHT' IN 2010, KGI SAYS
Bloomberg Reported that, Stephen Wang, an analyst with KGI Securities in Taipei, comments on the outlook for Chinese steel production and demand for ...
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- Cigading International Bulk Terminal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Kartika Selabumi Mining - Indonesia
- Grasim Industreis Ltd - India
- Sree Jayajothi Cements Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- SMC Global Power, Philippines
- Planning Commission, India
- Mintek Dendrill Indonesia
- Metalloyd Limited - United Kingdom
- Vizag Seaport Private Limited - India
- Bhatia International Limited - India
- Independent Power Producers Association of India
- Central Java Power - Indonesia
- ICICI Bank Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Sical Logistics Limited - India
- Toyota Tsusho Corporation, Japan
- Bangladesh Power Developement Board
- Asmin Koalindo Tuhup - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Minerals Council of Australia
- Petrochimia International Co. Ltd.- Taiwan
- ASAPP Information Group - India
- Meenaskhi Energy Private Limited - India
- Miang Besar Coal Terminal - Indonesia
- Simpson Spence & Young - Indonesia
- Aditya Birla Group - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Price Waterhouse Coopers - Russia
- Bulk Trading Sa - Switzerland
- Bharathi Cement Corporation - India
- Formosa Plastics Group - Taiwan
- Iligan Light & Power Inc, Philippines
- San Jose City I Power Corp, Philippines
- Karaikal Port Pvt Ltd - India
- Lanco Infratech Ltd - India
- Wood Mackenzie - Singapore
- Singapore Mercantile Exchange
- Bhushan Steel Limited - India
- Ministry of Finance - Indonesia
- Sojitz Corporation - Japan
- Heidelberg Cement - Germany
- Electricity Authority, New Zealand
- Krishnapatnam Port Company Ltd. - India
- Mercuria Energy - Indonesia
- Attock Cement Pakistan Limited
- Carbofer General Trading SA - India
- New Zealand Coal & Carbon
- Videocon Industries ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Bukit Makmur.PT - Indonesia
- IEA Clean Coal Centre - UK
- Indika Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Altura Mining Limited, Indonesia
- Port Waratah Coal Services - Australia
- The Treasury - Australian Government
- Sindya Power Generating Company Private Ltd
- Indonesian Coal Mining Association
- Commonwealth Bank - Australia
- SMG Consultants - Indonesia
- Kepco SPC Power Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Edison Trading Spa - Italy
- Makarim & Taira - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Timah Investasi Mineral - Indoneisa
- Straits Asia Resources Limited - Singapore
- Antam Resourcindo - Indonesia
- Interocean Group of Companies - India
- Leighton Contractors Pty Ltd - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Goldman Sachs - Singapore
- The State Trading Corporation of India Ltd
- Xindia Steels Limited - India
- Georgia Ports Authority, United States
- Madhucon Powers Ltd - India
- Orica Australia Pty. Ltd.
- Electricity Generating Authority of Thailand
- PowerSource Philippines DevCo
- Bukit Asam (Persero) Tbk - Indonesia
- Sakthi Sugars Limited - India
- Africa Commodities Group - South Africa
- Billiton Holdings Pty Ltd - Australia
- Vedanta Resources Plc - India
- Cement Manufacturers Association - India
- Bukit Baiduri Energy - Indonesia
- Star Paper Mills Limited - India
- Banpu Public Company Limited - Thailand
- Global Business Power Corporation, Philippines
- Larsen & Toubro Limited - India
- Binh Thuan Hamico - Vietnam
- IHS Mccloskey Coal Group - USA
- Rashtriya Ispat Nigam Limited - India
- Coalindo Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Riau Bara Harum - Indonesia
- Orica Mining Services - Indonesia
- MS Steel International - UAE
- International Coal Ventures Pvt Ltd - India
- Ministry of Mines - Canada
- Thai Mozambique Logistica
- Meralco Power Generation, Philippines
- Dalmia Cement Bharat India
- Chamber of Mines of South Africa
- Pendopo Energi Batubara - Indonesia
- Gujarat Sidhee Cement - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Malabar Cements Ltd - India
- Jindal Steel & Power Ltd - India
- Samtan Co., Ltd - South Korea
- Bayan Resources Tbk. - Indonesia
- Barasentosa Lestari - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Eastern Energy - Thailand
- Directorate General of MIneral and Coal - Indonesia
- Trasteel International SA, Italy
- Siam City Cement PLC, Thailand
- European Bulk Services B.V. - Netherlands
- Ambuja Cements Ltd - India
- GAC Shipping (India) Pvt Ltd
- CNBM International Corporation - China
- Kapuas Tunggal Persada - Indonesia
- Central Electricity Authority - India
- Therma Luzon, Inc, Philippines
- Romanian Commodities Exchange
- Mercator Lines Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Oldendorff Carriers - Singapore
- PetroVietnam Power Coal Import and Supply Company
- OPG Power Generation Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Australian Coal Association
- Posco Energy - South Korea
- Australian Commodity Traders Exchange
- Ministry of Transport, Egypt
- India Bulls Power Limited - India
- Chettinad Cement Corporation Ltd - India
- Petron Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Rio Tinto Coal - Australia
- Medco Energi Mining Internasional
- SN Aboitiz Power Inc, Philippines
- Economic Council, Georgia
- PNOC Exploration Corporation - Philippines
- VISA Power Limited - India
- Baramulti Group, Indonesia
- Latin American Coal - Colombia
- Siam City Cement - Thailand
- Kideco Jaya Agung - Indonesia
- PTC India Limited - India
- South Luzon Thermal Energy Corporation
- Wilmar Investment Holdings
- Energy Development Corp, Philippines
- Essar Steel Hazira Ltd - India
- Agrawal Coal Company - India
- GN Power Mariveles Coal Plant, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- GMR Energy Limited - India
- Tata Chemicals Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- AsiaOL BioFuels Corp., Philippines
- Directorate Of Revenue Intelligence - India
- Kumho Petrochemical, South Korea
- Energy Link Ltd, New Zealand
- Parry Sugars Refinery, India
- Mjunction Services Limited - India
- Indogreen Group - Indonesia
- Coal and Oil Company - UAE
- Ind-Barath Power Infra Limited - India
- Global Green Power PLC Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Indian Oil Corporation Limited
- Savvy Resources Ltd - HongKong
- Bhoruka Overseas - Indonesia
- Jaiprakash Power Ventures ltd
- Ceylon Electricity Board - Sri Lanka
- Deloitte Consulting - India
- Thiess Contractors Indonesia
- CIMB Investment Bank - Malaysia
- Anglo American - United Kingdom
- Global Coal Blending Company Limited - Australia
- Tamil Nadu electricity Board
- White Energy Company Limited
- Bahari Cakrawala Sebuku - Indonesia
- Marubeni Corporation - India
- Eastern Coal Council - USA
- Salva Resources Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- London Commodity Brokers - England
- Merrill Lynch Commodities Europe
- The University of Queensland
- McConnell Dowell - Australia
- Power Finance Corporation Ltd., India
- Kohat Cement Company Ltd. - Pakistan
- GVK Power & Infra Limited - India
- Borneo Indobara - Indonesia
- LBH Netherlands Bv - Netherlands
- TNB Fuel Sdn Bhd - Malaysia
- Parliament of New Zealand
- Intertek Mineral Services - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Renaissance Capital - South Africa
- Coastal Gujarat Power Limited - India
- Indian Energy Exchange, India
- TeaM Sual Corporation - Philippines
- Kobexindo Tractors - Indoneisa
- Indo Tambangraya Megah - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Uttam Galva Steels Limited - India
- Maheswari Brothers Coal Limited - India
- Standard Chartered Bank - UAE
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