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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, 19 November 09
FAST-TRACK FOCUS ON COAL POWER MAY COST INDONESIA BILLIONS
The Jakartaglobe reported that, As it begins to tap its massive coal reserves to generate cheap electricity, Indonesia may face additional costs of ...
Wednesday, 18 November 09
THAI PTT PLANS COAL MINE INVESTMENT IN INDONESIA
* To conclude Indonesian coal mine buy in 6 months
* Sees coal output jumping to 20 mln tonnes in five years
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Wednesday, 18 November 09
ASIA-PACIFIC MINISTERIAL CONFERENCE ON PUBLIC-PRIVATE PARTNERSHIPS FOR INFRASTRUCTURE DEVELOPMENT
“Building Asia’s Infrastructure”
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Wednesday, 18 November 09
AMBUJA COAL TENDER PRICES EQUATE TO $61.50/T FOB
Reuters reported that, coal prices achieved by Indian cement maker Gujarat Ambuja in its early November tender equate to $61.50 a tonne FOB Richards ...
Tuesday, 17 November 09
JSW STEEL MAY SPEND $500 MILLION TO ACQUIRE COAL MINES OVERSEAS
JSW Steel Ltd., India’s third- biggest producer, may spend $500 million buying coal mines overseas, securing supplies for its local expansion. ...
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- South Luzon Thermal Energy Corporation
- Jorong Barutama Greston.PT - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Madhucon Powers Ltd - India
- Meralco Power Generation, Philippines
- CIMB Investment Bank - Malaysia
- Gujarat Sidhee Cement - India
- Borneo Indobara - Indonesia
- Coastal Gujarat Power Limited - India
- Aditya Birla Group - India
- Georgia Ports Authority, United States
- Renaissance Capital - South Africa
- Bahari Cakrawala Sebuku - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Siam City Cement - Thailand
- Kapuas Tunggal Persada - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Anglo American - United Kingdom
- Wood Mackenzie - Singapore
- Riau Bara Harum - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Price Waterhouse Coopers - Russia
- Energy Link Ltd, New Zealand
- Toyota Tsusho Corporation, Japan
- Pendopo Energi Batubara - Indonesia
- Globalindo Alam Lestari - Indonesia
- Eastern Coal Council - USA
- TeaM Sual Corporation - Philippines
- Agrawal Coal Company - India
- Sindya Power Generating Company Private Ltd
- Petrochimia International Co. Ltd.- Taiwan
- OPG Power Generation Pvt Ltd - India
- Thai Mozambique Logistica
- Gujarat Mineral Development Corp Ltd - India
- Dalmia Cement Bharat India
- Mercuria Energy - Indonesia
- Electricity Authority, New Zealand
- PTC India Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Ministry of Finance - Indonesia
- GMR Energy Limited - India
- Interocean Group of Companies - India
- Ambuja Cements Ltd - India
- Africa Commodities Group - South Africa
- Eastern Energy - Thailand
- Bukit Baiduri Energy - Indonesia
- Mercator Lines Limited - India
- Kaltim Prima Coal - Indonesia
- Cement Manufacturers Association - India
- Trasteel International SA, Italy
- Xindia Steels Limited - India
- Bhatia International Limited - India
- Jaiprakash Power Ventures ltd
- Coal and Oil Company - UAE
- Billiton Holdings Pty Ltd - Australia
- Banpu Public Company Limited - Thailand
- International Coal Ventures Pvt Ltd - India
- White Energy Company Limited
- Uttam Galva Steels Limited - India
- Sinarmas Energy and Mining - Indonesia
- Merrill Lynch Commodities Europe
- Star Paper Mills Limited - India
- Cigading International Bulk Terminal - Indonesia
- Latin American Coal - Colombia
- Central Electricity Authority - India
- Carbofer General Trading SA - India
- Barasentosa Lestari - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Altura Mining Limited, Indonesia
- Grasim Industreis Ltd - India
- Parry Sugars Refinery, India
- Straits Asia Resources Limited - Singapore
- Therma Luzon, Inc, Philippines
- Savvy Resources Ltd - HongKong
- Kartika Selabumi Mining - Indonesia
- Meenaskhi Energy Private Limited - India
- Iligan Light & Power Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bangladesh Power Developement Board
- Baramulti Group, Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Minerals Council of Australia
- Indo Tambangraya Megah - Indonesia
- Essar Steel Hazira Ltd - India
- Kideco Jaya Agung - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Orica Australia Pty. Ltd.
- Samtan Co., Ltd - South Korea
- Parliament of New Zealand
- Vijayanagar Sugar Pvt Ltd - India
- India Bulls Power Limited - India
- Economic Council, Georgia
- Antam Resourcindo - Indonesia
- Independent Power Producers Association of India
- Global Green Power PLC Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Attock Cement Pakistan Limited
- Bhoruka Overseas - Indonesia
- Standard Chartered Bank - UAE
- Krishnapatnam Port Company Ltd. - India
- Alfred C Toepfer International GmbH - Germany
- ICICI Bank Limited - India
- Marubeni Corporation - India
- Rio Tinto Coal - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- London Commodity Brokers - England
- Intertek Mineral Services - Indonesia
- PNOC Exploration Corporation - Philippines
- Semirara Mining Corp, Philippines
- Lanco Infratech Ltd - India
- Ministry of Transport, Egypt
- Port Waratah Coal Services - Australia
- Bhushan Steel Limited - India
- Videocon Industries ltd - India
- AsiaOL BioFuels Corp., Philippines
- Singapore Mercantile Exchange
- Kepco SPC Power Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Central Java Power - Indonesia
- CNBM International Corporation - China
- Indogreen Group - Indonesia
- Malabar Cements Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Global Business Power Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Kumho Petrochemical, South Korea
- PowerSource Philippines DevCo
- Wilmar Investment Holdings
- Sical Logistics Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Romanian Commodities Exchange
- Makarim & Taira - Indonesia
- Binh Thuan Hamico - Vietnam
- Salva Resources Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Karaikal Port Pvt Ltd - India
- Indonesian Coal Mining Association
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Global Coal Blending Company Limited - Australia
- Directorate General of MIneral and Coal - Indonesia
- Orica Mining Services - Indonesia
- Sarangani Energy Corporation, Philippines
- The University of Queensland
- Bharathi Cement Corporation - India
- SMG Consultants - Indonesia
- SMC Global Power, Philippines
- Siam City Cement PLC, Thailand
- Indika Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Timah Investasi Mineral - Indoneisa
- Larsen & Toubro Limited - India
- VISA Power Limited - India
- Sojitz Corporation - Japan
- Australian Commodity Traders Exchange
- The Treasury - Australian Government
- The State Trading Corporation of India Ltd
- San Jose City I Power Corp, Philippines
- Vedanta Resources Plc - India
- Ind-Barath Power Infra Limited - India
- IHS Mccloskey Coal Group - USA
- Heidelberg Cement - Germany
- Petron Corporation, Philippines
- Medco Energi Mining Internasional
- European Bulk Services B.V. - Netherlands
- Indian Oil Corporation Limited
- Bank of Tokyo Mitsubishi UFJ Ltd
- New Zealand Coal & Carbon
- IEA Clean Coal Centre - UK
- Edison Trading Spa - Italy
- Kalimantan Lumbung Energi - Indonesia
- GVK Power & Infra Limited - India
- Rashtriya Ispat Nigam Limited - India
- Manunggal Multi Energi - Indonesia
- Posco Energy - South Korea
- Sree Jayajothi Cements Limited - India
- ASAPP Information Group - India
- Sakthi Sugars Limited - India
- SN Aboitiz Power Inc, Philippines
- Vizag Seaport Private Limited - India
- Bulk Trading Sa - Switzerland
- Kobexindo Tractors - Indoneisa
- Energy Development Corp, Philippines
- Planning Commission, India
- Bukit Makmur.PT - Indonesia
- Mintek Dendrill Indonesia
- Commonwealth Bank - Australia
- Directorate Of Revenue Intelligence - India
- Coalindo Energy - Indonesia
- Chamber of Mines of South Africa
- McConnell Dowell - Australia
- Electricity Generating Authority of Thailand
- Formosa Plastics Group - Taiwan
- Jindal Steel & Power Ltd - India
- Oldendorff Carriers - Singapore
- Tamil Nadu electricity Board
- Maheswari Brothers Coal Limited - India
- Deloitte Consulting - India
- LBH Netherlands Bv - Netherlands
- Holcim Trading Pte Ltd - Singapore
- Gujarat Electricity Regulatory Commission - India
- Goldman Sachs - Singapore
- Simpson Spence & Young - Indonesia
- Power Finance Corporation Ltd., India
- MS Steel International - UAE
- Australian Coal Association
- Semirara Mining and Power Corporation, Philippines
- Ministry of Mines - Canada
- Mjunction Services Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Chettinad Cement Corporation Ltd - India
- Thiess Contractors Indonesia
- Bayan Resources Tbk. - Indonesia
- Indian Energy Exchange, India
- Tata Chemicals Ltd - India
- Ceylon Electricity Board - Sri Lanka
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