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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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Monday, 16 November 09
141 VESSELS ARE EXPECTED TO LOAD 8.833 MILLION TONS OF INDONESIAN COAL BEFORE 30 NOVEMBER 2009
COALspot.com (Indonesia): 141 vessels are expected to load or sail with 8.833 million tons of Indonesian coal before 30 November 2009.
A source f ...
Sunday, 15 November 09
NALCO SHELVES SA PROJECT- PUTS IRAN PROJECT ON HOLD
The Economic Times reported that, In a twin decision on its global operations involving about Rs 27,000-crore (US$ 5.847billions) investment, the st ...
Saturday, 14 November 09
SHORT PERIOD RATES FOR SUPRAMAX WAS AT US$ 19,000 / 20,000 PER DAY FOR VESSELS OPENING FAR EAST / SE ASIA - VISTAAR SINGAPORE
COALspot.com (Singaproe): BDI continues to rally crossing the 4,000 mark. The BDI increased this week by 718 points up by 21 pct and closed at 4,111 ...
Saturday, 14 November 09
CHINA HAS BEEN THE LARGEST SINGLE BUYER OF INDONESIAN COAL IN OCTOBER, TAKING 24.37% OF TOTAL EXPORT QUANTITY OF 22.637 MILLION TONS
COALspot.com (Indonesia): China has been the largest single buyer of Indonesian coal in October 2009, taking 24.37% of total export quantity o ...
Saturday, 14 November 09
ASIA'S POWER SECTOR IS INVESTING IN COALMINES TO SECURE SUPPLIES
COALspot.com (Press Release): Asia Coal Power conference in Jakarta pinpoints growing power demand in Asia & Power sector investments in Indones ...
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- Rio Tinto Coal - Australia
- Bulk Trading Sa - Switzerland
- Sree Jayajothi Cements Limited - India
- San Jose City I Power Corp, Philippines
- Aboitiz Power Corporation - Philippines
- Marubeni Corporation - India
- Kaltim Prima Coal - Indonesia
- Attock Cement Pakistan Limited
- PetroVietnam Power Coal Import and Supply Company
- IHS Mccloskey Coal Group - USA
- Asia Pacific Energy Resources Ventures Inc, Philippines
- McConnell Dowell - Australia
- Manunggal Multi Energi - Indonesia
- Wilmar Investment Holdings
- Petron Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Posco Energy - South Korea
- Bahari Cakrawala Sebuku - Indonesia
- Carbofer General Trading SA - India
- AsiaOL BioFuels Corp., Philippines
- Siam City Cement - Thailand
- Madhucon Powers Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Neyveli Lignite Corporation Ltd, - India
- Tata Chemicals Ltd - India
- Bhushan Steel Limited - India
- Salva Resources Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Coalindo Energy - Indonesia
- Xindia Steels Limited - India
- SMG Consultants - Indonesia
- OPG Power Generation Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Krishnapatnam Port Company Ltd. - India
- Aditya Birla Group - India
- Minerals Council of Australia
- Bharathi Cement Corporation - India
- Intertek Mineral Services - Indonesia
- Mintek Dendrill Indonesia
- Australian Commodity Traders Exchange
- Petrochimia International Co. Ltd.- Taiwan
- New Zealand Coal & Carbon
- Latin American Coal - Colombia
- Meralco Power Generation, Philippines
- Agrawal Coal Company - India
- Tamil Nadu electricity Board
- The State Trading Corporation of India Ltd
- Wood Mackenzie - Singapore
- Samtan Co., Ltd - South Korea
- Kalimantan Lumbung Energi - Indonesia
- SMC Global Power, Philippines
- Deloitte Consulting - India
- Rashtriya Ispat Nigam Limited - India
- Cement Manufacturers Association - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Antam Resourcindo - Indonesia
- Bukit Baiduri Energy - Indonesia
- Thiess Contractors Indonesia
- GAC Shipping (India) Pvt Ltd
- Australian Coal Association
- Kideco Jaya Agung - Indonesia
- IEA Clean Coal Centre - UK
- Orica Mining Services - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Merrill Lynch Commodities Europe
- Vijayanagar Sugar Pvt Ltd - India
- PTC India Limited - India
- CNBM International Corporation - China
- Trasteel International SA, Italy
- Eastern Energy - Thailand
- ICICI Bank Limited - India
- Global Green Power PLC Corporation, Philippines
- ASAPP Information Group - India
- Central Electricity Authority - India
- Bayan Resources Tbk. - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Larsen & Toubro Limited - India
- TeaM Sual Corporation - Philippines
- Formosa Plastics Group - Taiwan
- Iligan Light & Power Inc, Philippines
- GVK Power & Infra Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Malabar Cements Ltd - India
- Indian Oil Corporation Limited
- Price Waterhouse Coopers - Russia
- Indonesian Coal Mining Association
- Ministry of Transport, Egypt
- Indogreen Group - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GMR Energy Limited - India
- Simpson Spence & Young - Indonesia
- Binh Thuan Hamico - Vietnam
- Renaissance Capital - South Africa
- Borneo Indobara - Indonesia
- Sarangani Energy Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Ambuja Cements Ltd - India
- London Commodity Brokers - England
- Anglo American - United Kingdom
- European Bulk Services B.V. - Netherlands
- MS Steel International - UAE
- Electricity Authority, New Zealand
- Interocean Group of Companies - India
- Alfred C Toepfer International GmbH - Germany
- Ministry of Finance - Indonesia
- Electricity Generating Authority of Thailand
- Essar Steel Hazira Ltd - India
- Kobexindo Tractors - Indoneisa
- Bukit Makmur.PT - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Karaikal Port Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Siam City Cement PLC, Thailand
- Toyota Tsusho Corporation, Japan
- Independent Power Producers Association of India
- Sindya Power Generating Company Private Ltd
- Videocon Industries ltd - India
- Central Java Power - Indonesia
- Baramulti Group, Indonesia
- Metalloyd Limited - United Kingdom
- TNB Fuel Sdn Bhd - Malaysia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Global Business Power Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Parry Sugars Refinery, India
- Singapore Mercantile Exchange
- Maharashtra Electricity Regulatory Commission - India
- Globalindo Alam Lestari - Indonesia
- Global Coal Blending Company Limited - Australia
- Gujarat Mineral Development Corp Ltd - India
- PowerSource Philippines DevCo
- Chamber of Mines of South Africa
- Energy Link Ltd, New Zealand
- Romanian Commodities Exchange
- Goldman Sachs - Singapore
- The Treasury - Australian Government
- VISA Power Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Karbindo Abesyapradhi - Indoneisa
- Riau Bara Harum - Indonesia
- Mjunction Services Limited - India
- The University of Queensland
- International Coal Ventures Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Kartika Selabumi Mining - Indonesia
- Coastal Gujarat Power Limited - India
- Coal and Oil Company - UAE
- Energy Development Corp, Philippines
- Bhatia International Limited - India
- Semirara Mining and Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Timah Investasi Mineral - Indoneisa
- Uttam Galva Steels Limited - India
- Oldendorff Carriers - Singapore
- Kumho Petrochemical, South Korea
- Holcim Trading Pte Ltd - Singapore
- Economic Council, Georgia
- Sojitz Corporation - Japan
- Grasim Industreis Ltd - India
- Parliament of New Zealand
- Jorong Barutama Greston.PT - Indonesia
- Indo Tambangraya Megah - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Vedanta Resources Plc - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Commonwealth Bank - Australia
- Semirara Mining Corp, Philippines
- Barasentosa Lestari - Indonesia
- Mercuria Energy - Indonesia
- Sakthi Sugars Limited - India
- Jindal Steel & Power Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Sinarmas Energy and Mining - Indonesia
- Indika Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Pendopo Energi Batubara - Indonesia
- Ind-Barath Power Infra Limited - India
- Ministry of Mines - Canada
- Thai Mozambique Logistica
- Medco Energi Mining Internasional
- Banpu Public Company Limited - Thailand
- Star Paper Mills Limited - India
- Orica Australia Pty. Ltd.
- Bukit Asam (Persero) Tbk - Indonesia
- Kepco SPC Power Corporation, Philippines
- White Energy Company Limited
- Dalmia Cement Bharat India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bangladesh Power Developement Board
- Mercator Lines Limited - India
- Bhoruka Overseas - Indonesia
- Directorate Of Revenue Intelligence - India
- Directorate General of MIneral and Coal - Indonesia
- Chettinad Cement Corporation Ltd - India
- South Luzon Thermal Energy Corporation
- Port Waratah Coal Services - Australia
- Makarim & Taira - Indonesia
- India Bulls Power Limited - India
- Meenaskhi Energy Private Limited - India
- Eastern Coal Council - USA
- GN Power Mariveles Coal Plant, Philippines
- Lanco Infratech Ltd - India
- Edison Trading Spa - Italy
- LBH Netherlands Bv - Netherlands
- Planning Commission, India
- Power Finance Corporation Ltd., India
- Sical Logistics Limited - India
- Savvy Resources Ltd - HongKong
- Georgia Ports Authority, United States
- Africa Commodities Group - South Africa
- Indian Energy Exchange, India
- Gujarat Sidhee Cement - India
- Standard Chartered Bank - UAE
- Heidelberg Cement - Germany
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