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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, 12 November 09
FOREIGN INVESTMENT IN RUSSIAN COAL SECTOR
Reuters reported that, Russia's coal mines, particularly in the Arctic and Far East, are attracting interest from foreign investors as commodity pr ...
Thursday, 12 November 09
BANPU TO INVEST US$ 466 M
Plan targets 33.5m tonnes of coal per year
Bangkok Post reported that, Banpu Plc, Asean's largest coal miner, is planning capital investments of ...
Wednesday, 11 November 09
NORTHSTAR TAKES 40 PER CENT OF INDONESIAN MINING COMPANY
AltAssets reported that, PT Northstar Pacific Partners, the Indonesian affiliate of US private equity firm TPG, has taken a 40 per cent stake in Ind ...
Wednesday, 11 November 09
INDONESIAN COAL MINERS SOLD BIG VOLUMES OF 2010 TO CHINA
* China has scooped up large volumes of Indonesian coal
* Total exports to China in 2010 seen to exceed 20 million T
* Chinese, Indian demand may ...
Wednesday, 11 November 09
INDIAN COAL IMPORT FROM SA IN OCTOBER
Reuters reported that India imported 2.4 million tonnes of coal from South Africa's Richards Bay Coal Terminal in October 2009, 35% of the total of ...
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- Baramulti Group, Indonesia
- Commonwealth Bank - Australia
- Makarim & Taira - Indonesia
- The State Trading Corporation of India Ltd
- The Treasury - Australian Government
- Lanco Infratech Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Banpu Public Company Limited - Thailand
- The University of Queensland
- Africa Commodities Group - South Africa
- SN Aboitiz Power Inc, Philippines
- Energy Development Corp, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- IEA Clean Coal Centre - UK
- PetroVietnam Power Coal Import and Supply Company
- Renaissance Capital - South Africa
- Siam City Cement PLC, Thailand
- Directorate General of MIneral and Coal - Indonesia
- Latin American Coal - Colombia
- Kobexindo Tractors - Indoneisa
- Cigading International Bulk Terminal - Indonesia
- Bhushan Steel Limited - India
- Salva Resources Pvt Ltd - India
- Eastern Coal Council - USA
- European Bulk Services B.V. - Netherlands
- Uttam Galva Steels Limited - India
- New Zealand Coal & Carbon
- GVK Power & Infra Limited - India
- Anglo American - United Kingdom
- Sarangani Energy Corporation, Philippines
- Posco Energy - South Korea
- Riau Bara Harum - Indonesia
- San Jose City I Power Corp, Philippines
- Trasteel International SA, Italy
- Ministry of Transport, Egypt
- Videocon Industries ltd - India
- Kartika Selabumi Mining - Indonesia
- Indo Tambangraya Megah - Indonesia
- ASAPP Information Group - India
- Ceylon Electricity Board - Sri Lanka
- Kapuas Tunggal Persada - Indonesia
- Wood Mackenzie - Singapore
- Semirara Mining and Power Corporation, Philippines
- PowerSource Philippines DevCo
- Indika Energy - Indonesia
- Goldman Sachs - Singapore
- Bharathi Cement Corporation - India
- London Commodity Brokers - England
- Aditya Birla Group - India
- Bangladesh Power Developement Board
- Maheswari Brothers Coal Limited - India
- Economic Council, Georgia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kepco SPC Power Corporation, Philippines
- Ministry of Finance - Indonesia
- Therma Luzon, Inc, Philippines
- Bhoruka Overseas - Indonesia
- Indogreen Group - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Xindia Steels Limited - India
- Indian Oil Corporation Limited
- Tata Chemicals Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Sical Logistics Limited - India
- Tamil Nadu electricity Board
- SMC Global Power, Philippines
- Essar Steel Hazira Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- MS Steel International - UAE
- Gujarat Electricity Regulatory Commission - India
- Pendopo Energi Batubara - Indonesia
- Price Waterhouse Coopers - Russia
- Chettinad Cement Corporation Ltd - India
- Madhucon Powers Ltd - India
- Independent Power Producers Association of India
- Planning Commission, India
- Gujarat Mineral Development Corp Ltd - India
- Coastal Gujarat Power Limited - India
- Ind-Barath Power Infra Limited - India
- Oldendorff Carriers - Singapore
- IHS Mccloskey Coal Group - USA
- CNBM International Corporation - China
- Heidelberg Cement - Germany
- Globalindo Alam Lestari - Indonesia
- Bukit Makmur.PT - Indonesia
- Central Electricity Authority - India
- Karaikal Port Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Samtan Co., Ltd - South Korea
- Bhatia International Limited - India
- White Energy Company Limited
- Grasim Industreis Ltd - India
- GMR Energy Limited - India
- Mercuria Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Bayan Resources Tbk. - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- SMG Consultants - Indonesia
- Mjunction Services Limited - India
- Malabar Cements Ltd - India
- Dalmia Cement Bharat India
- Mintek Dendrill Indonesia
- Georgia Ports Authority, United States
- Indonesian Coal Mining Association
- Simpson Spence & Young - Indonesia
- Timah Investasi Mineral - Indoneisa
- Gujarat Sidhee Cement - India
- Marubeni Corporation - India
- Aboitiz Power Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- Orica Mining Services - Indonesia
- Australian Commodity Traders Exchange
- Edison Trading Spa - Italy
- Sree Jayajothi Cements Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Sakthi Sugars Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Thiess Contractors Indonesia
- Directorate Of Revenue Intelligence - India
- Minerals Council of Australia
- McConnell Dowell - Australia
- Formosa Plastics Group - Taiwan
- Toyota Tsusho Corporation, Japan
- PTC India Limited - India
- Star Paper Mills Limited - India
- Medco Energi Mining Internasional
- Orica Australia Pty. Ltd.
- Vijayanagar Sugar Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- TeaM Sual Corporation - Philippines
- PNOC Exploration Corporation - Philippines
- Rio Tinto Coal - Australia
- Singapore Mercantile Exchange
- Bukit Baiduri Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Petron Corporation, Philippines
- Eastern Energy - Thailand
- Standard Chartered Bank - UAE
- Central Java Power - Indonesia
- Agrawal Coal Company - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Chamber of Mines of South Africa
- CIMB Investment Bank - Malaysia
- Borneo Indobara - Indonesia
- Kumho Petrochemical, South Korea
- AsiaOL BioFuels Corp., Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Semirara Mining Corp, Philippines
- Australian Coal Association
- South Luzon Thermal Energy Corporation
- Siam City Cement - Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Attock Cement Pakistan Limited
- India Bulls Power Limited - India
- Antam Resourcindo - Indonesia
- Electricity Authority, New Zealand
- Parry Sugars Refinery, India
- VISA Power Limited - India
- Jaiprakash Power Ventures ltd
- Iligan Light & Power Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Thai Mozambique Logistica
- Kalimantan Lumbung Energi - Indonesia
- Sindya Power Generating Company Private Ltd
- Barasentosa Lestari - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Vedanta Resources Plc - India
- OPG Power Generation Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Wilmar Investment Holdings
- Ambuja Cements Ltd - India
- Romanian Commodities Exchange
- Electricity Generating Authority of Thailand
- Miang Besar Coal Terminal - Indonesia
- Cement Manufacturers Association - India
- Energy Link Ltd, New Zealand
- Krishnapatnam Port Company Ltd. - India
- Sojitz Corporation - Japan
- LBH Netherlands Bv - Netherlands
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Coalindo Energy - Indonesia
- Parliament of New Zealand
- Holcim Trading Pte Ltd - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Interocean Group of Companies - India
- GAC Shipping (India) Pvt Ltd
- Deloitte Consulting - India
- Petrochimia International Co. Ltd.- Taiwan
- Indian Energy Exchange, India
- Kaltim Prima Coal - Indonesia
- Ministry of Mines - Canada
- Coal and Oil Company - UAE
- Global Coal Blending Company Limited - Australia
- Power Finance Corporation Ltd., India
- Vizag Seaport Private Limited - India
- Jindal Steel & Power Ltd - India
- Meralco Power Generation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Manunggal Multi Energi - Indonesia
- Bulk Trading Sa - Switzerland
- Rashtriya Ispat Nigam Limited - India
- Straits Asia Resources Limited - Singapore
- Savvy Resources Ltd - HongKong
- Kohat Cement Company Ltd. - Pakistan
- Carbofer General Trading SA - India
- Jorong Barutama Greston.PT - Indonesia
- Larsen & Toubro Limited - India
- Global Business Power Corporation, Philippines
- Altura Mining Limited, Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- ICICI Bank Limited - India
- Merrill Lynch Commodities Europe
- Port Waratah Coal Services - Australia
- Meenaskhi Energy Private Limited - India
- Mercator Lines Limited - India
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