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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, 01 November 09
THE COAL MOVEMENT TO INDIA FROM SOUTH AFRICA AND INDONESIA WOULD BE CONTINUE INCREASE - VISTAAR SINGAPORE
COALspot.com (Singapore): The BDI continued to be firm with an increase of 60 points and closed at 3,103 points.
The cape index also was firm an ...
Sunday, 01 November 09
INDONESIA ADARO Q3 NET PROFIT JUMPS ON COAL DEMAND
* Q3 net profit up 131.6 percent to 1.27 trillion rupiah
* Q3 revenue up 56.8 percent to 7.12 trillion rupiah
Reuters reported that, Indonesia' ...
Sunday, 01 November 09
PT INDIKA MAY BUY STAKES IN BHPB INDONESIA OPERATIONS
Dow Jones reported that Indonesian coal producer PT Indika Energy may buy stakes in BHP Billiton Limited's Indonesian coal operations and in local ...
Sunday, 01 November 09
ADAVALE RESOURCES MAKES COAL ACQUISITIONS IN INDONESIA
Adavale Resources Limited has entered into an agreement to acquire the rights to two thermal coal projects Tapan and Jambi in Sumatra Indonesia, hel ...
Saturday, 31 October 09
PRODUCERS BENEFIT FROM COAL'S TIGHT SUPPLY AND STRONG DEMAND
The Jakarta Post reported that, The outlook for Indonesian coal producers appears promising with strong volume growth coming from both the domestic ...
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- Directorate Of Revenue Intelligence - India
- Makarim & Taira - Indonesia
- Sarangani Energy Corporation, Philippines
- Singapore Mercantile Exchange
- Baramulti Group, Indonesia
- Alfred C Toepfer International GmbH - Germany
- AsiaOL BioFuels Corp., Philippines
- Riau Bara Harum - Indonesia
- Chamber of Mines of South Africa
- Bhatia International Limited - India
- Port Waratah Coal Services - Australia
- Central Electricity Authority - India
- Oldendorff Carriers - Singapore
- Kobexindo Tractors - Indoneisa
- Trasteel International SA, Italy
- Indo Tambangraya Megah - Indonesia
- Mercator Lines Limited - India
- Barasentosa Lestari - Indonesia
- London Commodity Brokers - England
- Planning Commission, India
- Kaltim Prima Coal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Malabar Cements Ltd - India
- Dalmia Cement Bharat India
- Bahari Cakrawala Sebuku - Indonesia
- Kumho Petrochemical, South Korea
- Indogreen Group - Indonesia
- Manunggal Multi Energi - Indonesia
- Bulk Trading Sa - Switzerland
- Tata Chemicals Ltd - India
- Coal and Oil Company - UAE
- Altura Mining Limited, Indonesia
- Iligan Light & Power Inc, Philippines
- Meenaskhi Energy Private Limited - India
- Grasim Industreis Ltd - India
- Australian Coal Association
- Deloitte Consulting - India
- Sical Logistics Limited - India
- The University of Queensland
- Savvy Resources Ltd - HongKong
- Jaiprakash Power Ventures ltd
- Rio Tinto Coal - Australia
- Medco Energi Mining Internasional
- Ambuja Cements Ltd - India
- ASAPP Information Group - India
- Semirara Mining Corp, Philippines
- Xindia Steels Limited - India
- Vizag Seaport Private Limited - India
- Minerals Council of Australia
- Metalloyd Limited - United Kingdom
- Wilmar Investment Holdings
- Karaikal Port Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- International Coal Ventures Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Australian Commodity Traders Exchange
- Karbindo Abesyapradhi - Indoneisa
- Thiess Contractors Indonesia
- SMG Consultants - Indonesia
- Global Green Power PLC Corporation, Philippines
- Parliament of New Zealand
- Kepco SPC Power Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Coastal Gujarat Power Limited - India
- Samtan Co., Ltd - South Korea
- Commonwealth Bank - Australia
- Electricity Generating Authority of Thailand
- Billiton Holdings Pty Ltd - Australia
- Global Coal Blending Company Limited - Australia
- Bayan Resources Tbk. - Indonesia
- Interocean Group of Companies - India
- Orica Australia Pty. Ltd.
- Cement Manufacturers Association - India
- Ministry of Mines - Canada
- Ind-Barath Power Infra Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Formosa Plastics Group - Taiwan
- CNBM International Corporation - China
- Eastern Energy - Thailand
- Leighton Contractors Pty Ltd - Australia
- Videocon Industries ltd - India
- Pendopo Energi Batubara - Indonesia
- Bharathi Cement Corporation - India
- Bukit Makmur.PT - Indonesia
- Coalindo Energy - Indonesia
- Uttam Galva Steels Limited - India
- Sree Jayajothi Cements Limited - India
- Semirara Mining and Power Corporation, Philippines
- Heidelberg Cement - Germany
- European Bulk Services B.V. - Netherlands
- Energy Link Ltd, New Zealand
- SN Aboitiz Power Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Intertek Mineral Services - Indonesia
- Energy Development Corp, Philippines
- Aboitiz Power Corporation - Philippines
- Tamil Nadu electricity Board
- Posco Energy - South Korea
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Gujarat Sidhee Cement - India
- GN Power Mariveles Coal Plant, Philippines
- Kideco Jaya Agung - Indonesia
- Anglo American - United Kingdom
- Petron Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Independent Power Producers Association of India
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sojitz Corporation - Japan
- Lanco Infratech Ltd - India
- South Luzon Thermal Energy Corporation
- The State Trading Corporation of India Ltd
- Maharashtra Electricity Regulatory Commission - India
- Siam City Cement PLC, Thailand
- Directorate General of MIneral and Coal - Indonesia
- Salva Resources Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Global Business Power Corporation, Philippines
- Central Java Power - Indonesia
- New Zealand Coal & Carbon
- Orica Mining Services - Indonesia
- Bhushan Steel Limited - India
- GVK Power & Infra Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Merrill Lynch Commodities Europe
- Sindya Power Generating Company Private Ltd
- Georgia Ports Authority, United States
- Renaissance Capital - South Africa
- Toyota Tsusho Corporation, Japan
- Star Paper Mills Limited - India
- Binh Thuan Hamico - Vietnam
- Sinarmas Energy and Mining - Indonesia
- Indian Oil Corporation Limited
- MS Steel International - UAE
- Thai Mozambique Logistica
- Larsen & Toubro Limited - India
- Globalindo Alam Lestari - Indonesia
- Economic Council, Georgia
- Indonesian Coal Mining Association
- Bukit Baiduri Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- India Bulls Power Limited - India
- Banpu Public Company Limited - Thailand
- Indian Energy Exchange, India
- Holcim Trading Pte Ltd - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Africa Commodities Group - South Africa
- GMR Energy Limited - India
- Kapuas Tunggal Persada - Indonesia
- SMC Global Power, Philippines
- Carbofer General Trading SA - India
- PTC India Limited - India
- Parry Sugars Refinery, India
- Romanian Commodities Exchange
- Straits Asia Resources Limited - Singapore
- IEA Clean Coal Centre - UK
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Vedanta Resources Plc - India
- Eastern Coal Council - USA
- Power Finance Corporation Ltd., India
- Sakthi Sugars Limited - India
- Cigading International Bulk Terminal - Indonesia
- PNOC Exploration Corporation - Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- PowerSource Philippines DevCo
- Mercuria Energy - Indonesia
- Goldman Sachs - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bangladesh Power Developement Board
- Wood Mackenzie - Singapore
- Kartika Selabumi Mining - Indonesia
- IHS Mccloskey Coal Group - USA
- Marubeni Corporation - India
- Therma Luzon, Inc, Philippines
- Antam Resourcindo - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Ministry of Transport, Egypt
- GAC Shipping (India) Pvt Ltd
- Neyveli Lignite Corporation Ltd, - India
- Attock Cement Pakistan Limited
- CIMB Investment Bank - Malaysia
- Electricity Authority, New Zealand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ministry of Finance - Indonesia
- McConnell Dowell - Australia
- Agrawal Coal Company - India
- White Energy Company Limited
- Edison Trading Spa - Italy
- Offshore Bulk Terminal Pte Ltd, Singapore
- Standard Chartered Bank - UAE
- ICICI Bank Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Siam City Cement - Thailand
- Madhucon Powers Ltd - India
- TeaM Sual Corporation - Philippines
- The Treasury - Australian Government
- Kohat Cement Company Ltd. - Pakistan
- Latin American Coal - Colombia
- Meralco Power Generation, Philippines
- Mintek Dendrill Indonesia
- Aditya Birla Group - India
- Ceylon Electricity Board - Sri Lanka
- VISA Power Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indika Energy - Indonesia
- Mjunction Services Limited - India
- Miang Besar Coal Terminal - Indonesia
- Maheswari Brothers Coal Limited - India
- Timah Investasi Mineral - Indoneisa
- Kalimantan Lumbung Energi - Indonesia
- Bhoruka Overseas - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Borneo Indobara - Indonesia
- Price Waterhouse Coopers - Russia
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