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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, 07 November 09
THE STEAM COAL MOVEMENT FROM INDONESIA TO INDIA REMAINED QUITE STRONG - CAPT. REDDY
COALspot.com (Singapore): The BDI continued rising this week and was up by 290 points up by almost 9 pct and the index closed at 3,393 points.
B ...
Friday, 06 November 09
COAL INDIA ABANDONS PLAN TO BUY ASSET IN AUSTRALIA
Coal India’s efforts to acquire a mid-sized virgin thermal coal block from a private party in Australia have drawn a blank.
The effort was ...
Friday, 06 November 09
NEW ASSETS WILL INCREASE COKING AND THERMAL COAL PRODUCTION
Coal and metals processing company Coal of Africa Limited (CoAL) aims to produce 10-million tons a year of coking coal and two-million tons a year o ...
Friday, 06 November 09
NTPC TO APPOINT MERCHANT BANKER FOR S AFRICA COAL MINE
State-run power producer NTPC, which is eyeing coal mines in South Africa to meet the gap in domestic fuel supply, will appoint a merchant banker ne ...
Thursday, 05 November 09
MERCATOR LINES AIMS TO BECOME A $5 BILLION COMPANY
Mercator Lines, India’s second largest private sector shipping line, plans to invest and expand, riding India’s next wave of growth, the ...
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- Vijayanagar Sugar Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Sinarmas Energy and Mining - Indonesia
- MS Steel International - UAE
- Australian Commodity Traders Exchange
- Bhatia International Limited - India
- Madhucon Powers Ltd - India
- Parliament of New Zealand
- Kobexindo Tractors - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- Marubeni Corporation - India
- Anglo American - United Kingdom
- The University of Queensland
- Ceylon Electricity Board - Sri Lanka
- Maheswari Brothers Coal Limited - India
- ASAPP Information Group - India
- Electricity Generating Authority of Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Xindia Steels Limited - India
- VISA Power Limited - India
- Jaiprakash Power Ventures ltd
- Makarim & Taira - Indonesia
- Binh Thuan Hamico - Vietnam
- South Luzon Thermal Energy Corporation
- Ambuja Cements Ltd - India
- Meralco Power Generation, Philippines
- Ministry of Transport, Egypt
- Sarangani Energy Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- GN Power Mariveles Coal Plant, Philippines
- Eastern Energy - Thailand
- Billiton Holdings Pty Ltd - Australia
- Banpu Public Company Limited - Thailand
- Aboitiz Power Corporation - Philippines
- India Bulls Power Limited - India
- Mjunction Services Limited - India
- Simpson Spence & Young - Indonesia
- Sree Jayajothi Cements Limited - India
- Bayan Resources Tbk. - Indonesia
- Essar Steel Hazira Ltd - India
- Oldendorff Carriers - Singapore
- Thiess Contractors Indonesia
- Central Java Power - Indonesia
- Vedanta Resources Plc - India
- Indonesian Coal Mining Association
- Star Paper Mills Limited - India
- Mercator Lines Limited - India
- Parry Sugars Refinery, India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Kumho Petrochemical, South Korea
- Global Green Power PLC Corporation, Philippines
- Latin American Coal - Colombia
- Holcim Trading Pte Ltd - Singapore
- Cigading International Bulk Terminal - Indonesia
- Borneo Indobara - Indonesia
- Ministry of Finance - Indonesia
- San Jose City I Power Corp, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- McConnell Dowell - Australia
- Mercuria Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Malabar Cements Ltd - India
- Tamil Nadu electricity Board
- Miang Besar Coal Terminal - Indonesia
- PNOC Exploration Corporation - Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Bukit Makmur.PT - Indonesia
- Posco Energy - South Korea
- GAC Shipping (India) Pvt Ltd
- Chettinad Cement Corporation Ltd - India
- CIMB Investment Bank - Malaysia
- Gujarat Mineral Development Corp Ltd - India
- Altura Mining Limited, Indonesia
- Timah Investasi Mineral - Indoneisa
- Indika Energy - Indonesia
- Siam City Cement PLC, Thailand
- Attock Cement Pakistan Limited
- Orica Mining Services - Indonesia
- Uttam Galva Steels Limited - India
- Intertek Mineral Services - Indonesia
- Standard Chartered Bank - UAE
- Bhoruka Overseas - Indonesia
- Coastal Gujarat Power Limited - India
- Grasim Industreis Ltd - India
- Indian Energy Exchange, India
- GMR Energy Limited - India
- Thai Mozambique Logistica
- Global Business Power Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Baramulti Group, Indonesia
- Sindya Power Generating Company Private Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Gujarat Sidhee Cement - India
- European Bulk Services B.V. - Netherlands
- Eastern Coal Council - USA
- Leighton Contractors Pty Ltd - Australia
- OPG Power Generation Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Interocean Group of Companies - India
- Price Waterhouse Coopers - Russia
- Bhushan Steel Limited - India
- Orica Australia Pty. Ltd.
- Rashtriya Ispat Nigam Limited - India
- Port Waratah Coal Services - Australia
- Romanian Commodities Exchange
- Goldman Sachs - Singapore
- Mintek Dendrill Indonesia
- Economic Council, Georgia
- Indogreen Group - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Asmin Koalindo Tuhup - Indonesia
- SMC Global Power, Philippines
- Sakthi Sugars Limited - India
- Meenaskhi Energy Private Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Kideco Jaya Agung - Indonesia
- Semirara Mining Corp, Philippines
- Edison Trading Spa - Italy
- Toyota Tsusho Corporation, Japan
- Gujarat Electricity Regulatory Commission - India
- Rio Tinto Coal - Australia
- Wilmar Investment Holdings
- Georgia Ports Authority, United States
- Medco Energi Mining Internasional
- Africa Commodities Group - South Africa
- Singapore Mercantile Exchange
- Karaikal Port Pvt Ltd - India
- Electricity Authority, New Zealand
- CNBM International Corporation - China
- London Commodity Brokers - England
- Kohat Cement Company Ltd. - Pakistan
- Renaissance Capital - South Africa
- Merrill Lynch Commodities Europe
- Aditya Birla Group - India
- Indian Oil Corporation Limited
- Jorong Barutama Greston.PT - Indonesia
- Trasteel International SA, Italy
- Manunggal Multi Energi - Indonesia
- Deloitte Consulting - India
- IEA Clean Coal Centre - UK
- Therma Luzon, Inc, Philippines
- Formosa Plastics Group - Taiwan
- Bharathi Cement Corporation - India
- Sical Logistics Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Central Electricity Authority - India
- Alfred C Toepfer International GmbH - Germany
- Heidelberg Cement - Germany
- Siam City Cement - Thailand
- New Zealand Coal & Carbon
- Jindal Steel & Power Ltd - India
- Dalmia Cement Bharat India
- Energy Link Ltd, New Zealand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Power Finance Corporation Ltd., India
- Coalindo Energy - Indonesia
- Australian Coal Association
- Neyveli Lignite Corporation Ltd, - India
- Krishnapatnam Port Company Ltd. - India
- Cement Manufacturers Association - India
- PTC India Limited - India
- Vizag Seaport Private Limited - India
- Bukit Baiduri Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Samtan Co., Ltd - South Korea
- Minerals Council of Australia
- Carbofer General Trading SA - India
- Lanco Infratech Ltd - India
- ICICI Bank Limited - India
- LBH Netherlands Bv - Netherlands
- Commonwealth Bank - Australia
- Sojitz Corporation - Japan
- Globalindo Alam Lestari - Indonesia
- Metalloyd Limited - United Kingdom
- Semirara Mining and Power Corporation, Philippines
- Tata Chemicals Ltd - India
- Larsen & Toubro Limited - India
- International Coal Ventures Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Planning Commission, India
- Maharashtra Electricity Regulatory Commission - India
- Bangladesh Power Developement Board
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GVK Power & Infra Limited - India
- Coal and Oil Company - UAE
- The State Trading Corporation of India Ltd
- Ministry of Mines - Canada
- IHS Mccloskey Coal Group - USA
- SMG Consultants - Indonesia
- Wood Mackenzie - Singapore
- Riau Bara Harum - Indonesia
- PowerSource Philippines DevCo
- Independent Power Producers Association of India
- SN Aboitiz Power Inc, Philippines
- Savvy Resources Ltd - HongKong
- Kartika Selabumi Mining - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Chamber of Mines of South Africa
- Salva Resources Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Barasentosa Lestari - Indonesia
- Videocon Industries ltd - India
- Energy Development Corp, Philippines
- Straits Asia Resources Limited - Singapore
- Pendopo Energi Batubara - Indonesia
- Petron Corporation, Philippines
- Agrawal Coal Company - India
- Kaltim Prima Coal - Indonesia
- The Treasury - Australian Government
- Bulk Trading Sa - Switzerland
- Kalimantan Lumbung Energi - Indonesia
- White Energy Company Limited
- Indo Tambangraya Megah - Indonesia
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