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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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Wednesday, 28 October 09
INVESTMENT IN MINING SECTOR HAMPERED BY LATE REGULATIONS
The Jakarta Post reported that, Indonesia may have to wait for a potential massive inflow of new investment into the mining sector due to delays in ...
Tuesday, 27 October 09
CHINA'S SEPT. COAL IMPORTS RISE AS ECONOMY RECOVERS
Bloomberg reported that, China, the world’s largest coal user and producer, increased imports of the fuel in September to meet rising domest ...
Monday, 26 October 09
DARWIN EYES PRIVATE INVESTMENT
The Jakarta Post reported that, the new energy and ministerial resources minister, Darwin Zahedy Saleh, has set his sights on accelerating the reali ...
Sunday, 25 October 09
THE FUTURE FREIGHT MARKET IS EXPECTED TO HAVE POSITIVE DIRECTION - VISTAAR
COALspot.com (Singapore): According to Vistaar Shipping an experienced ship operator in Singapore, the BDI shot up this week (19-24 October) by abou ...
Saturday, 24 October 09
NTPC SEEKS ALTERNATE COAL SUPPLY FOR KAHALGAON
State-run NTPC is looking at alternate sources of coal to fire its Kahalgaon (Bihar) and Farakka (West Bengal) and power stations, which are facing ...
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- Parliament of New Zealand
- Pipit Mutiara Jaya. PT, Indonesia
- PTC India Limited - India
- Bangladesh Power Developement Board
- PNOC Exploration Corporation - Philippines
- Baramulti Group, Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- South Luzon Thermal Energy Corporation
- Kalimantan Lumbung Energi - Indonesia
- Timah Investasi Mineral - Indoneisa
- GAC Shipping (India) Pvt Ltd
- Port Waratah Coal Services - Australia
- Siam City Cement - Thailand
- Global Coal Blending Company Limited - Australia
- Coalindo Energy - Indonesia
- IEA Clean Coal Centre - UK
- Indika Energy - Indonesia
- PowerSource Philippines DevCo
- Thiess Contractors Indonesia
- Lanco Infratech Ltd - India
- Wood Mackenzie - Singapore
- Metalloyd Limited - United Kingdom
- Orica Mining Services - Indonesia
- Mintek Dendrill Indonesia
- Minerals Council of Australia
- Bharathi Cement Corporation - India
- Oldendorff Carriers - Singapore
- Africa Commodities Group - South Africa
- Trasteel International SA, Italy
- Aboitiz Power Corporation - Philippines
- Tata Chemicals Ltd - India
- Billiton Holdings Pty Ltd - Australia
- AsiaOL BioFuels Corp., Philippines
- Economic Council, Georgia
- Goldman Sachs - Singapore
- SMG Consultants - Indonesia
- Anglo American - United Kingdom
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kapuas Tunggal Persada - Indonesia
- Maheswari Brothers Coal Limited - India
- Sojitz Corporation - Japan
- India Bulls Power Limited - India
- Attock Cement Pakistan Limited
- Price Waterhouse Coopers - Russia
- Rashtriya Ispat Nigam Limited - India
- Savvy Resources Ltd - HongKong
- Bayan Resources Tbk. - Indonesia
- The Treasury - Australian Government
- Edison Trading Spa - Italy
- Meenaskhi Energy Private Limited - India
- Commonwealth Bank - Australia
- Kaltim Prima Coal - Indonesia
- McConnell Dowell - Australia
- Sindya Power Generating Company Private Ltd
- Bhoruka Overseas - Indonesia
- IHS Mccloskey Coal Group - USA
- Directorate Of Revenue Intelligence - India
- GMR Energy Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Madhucon Powers Ltd - India
- Latin American Coal - Colombia
- Holcim Trading Pte Ltd - Singapore
- Krishnapatnam Port Company Ltd. - India
- Mercuria Energy - Indonesia
- Indian Energy Exchange, India
- Global Green Power PLC Corporation, Philippines
- Global Business Power Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Mjunction Services Limited - India
- Australian Commodity Traders Exchange
- Globalindo Alam Lestari - Indonesia
- Cement Manufacturers Association - India
- Semirara Mining and Power Corporation, Philippines
- Antam Resourcindo - Indonesia
- Jaiprakash Power Ventures ltd
- Eastern Energy - Thailand
- Medco Energi Mining Internasional
- Directorate General of MIneral and Coal - Indonesia
- Riau Bara Harum - Indonesia
- Samtan Co., Ltd - South Korea
- OPG Power Generation Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Kepco SPC Power Corporation, Philippines
- Ministry of Finance - Indonesia
- Kideco Jaya Agung - Indonesia
- Central Java Power - Indonesia
- Indogreen Group - Indonesia
- Vedanta Resources Plc - India
- Intertek Mineral Services - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Manunggal Multi Energi - Indonesia
- Kumho Petrochemical, South Korea
- Alfred C Toepfer International GmbH - Germany
- Borneo Indobara - Indonesia
- Straits Asia Resources Limited - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Toyota Tsusho Corporation, Japan
- Videocon Industries ltd - India
- SMC Global Power, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Vizag Seaport Private Limited - India
- Miang Besar Coal Terminal - Indonesia
- LBH Netherlands Bv - Netherlands
- Essar Steel Hazira Ltd - India
- TeaM Sual Corporation - Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Merrill Lynch Commodities Europe
- Deloitte Consulting - India
- Standard Chartered Bank - UAE
- Thai Mozambique Logistica
- Kartika Selabumi Mining - Indonesia
- Planning Commission, India
- White Energy Company Limited
- The State Trading Corporation of India Ltd
- Orica Australia Pty. Ltd.
- GN Power Mariveles Coal Plant, Philippines
- Eastern Coal Council - USA
- Indian Oil Corporation Limited
- Bukit Baiduri Energy - Indonesia
- GVK Power & Infra Limited - India
- Power Finance Corporation Ltd., India
- Bukit Makmur.PT - Indonesia
- Banpu Public Company Limited - Thailand
- Bhatia International Limited - India
- Xindia Steels Limited - India
- Electricity Authority, New Zealand
- Uttam Galva Steels Limited - India
- Coal and Oil Company - UAE
- Larsen & Toubro Limited - India
- Sarangani Energy Corporation, Philippines
- CIMB Investment Bank - Malaysia
- European Bulk Services B.V. - Netherlands
- Kohat Cement Company Ltd. - Pakistan
- Formosa Plastics Group - Taiwan
- Independent Power Producers Association of India
- Energy Link Ltd, New Zealand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Heidelberg Cement - Germany
- Ind-Barath Power Infra Limited - India
- Interocean Group of Companies - India
- Ambuja Cements Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Chettinad Cement Corporation Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Mercator Lines Limited - India
- Gujarat Sidhee Cement - India
- Bulk Trading Sa - Switzerland
- Renaissance Capital - South Africa
- Neyveli Lignite Corporation Ltd, - India
- Tamil Nadu electricity Board
- Georgia Ports Authority, United States
- Iligan Light & Power Inc, Philippines
- Makarim & Taira - Indonesia
- Indonesian Coal Mining Association
- Ceylon Electricity Board - Sri Lanka
- Petron Corporation, Philippines
- MS Steel International - UAE
- Posco Energy - South Korea
- New Zealand Coal & Carbon
- Sree Jayajothi Cements Limited - India
- Energy Development Corp, Philippines
- Bhushan Steel Limited - India
- Singapore Mercantile Exchange
- ICICI Bank Limited - India
- Siam City Cement PLC, Thailand
- Star Paper Mills Limited - India
- Pendopo Energi Batubara - Indonesia
- ASAPP Information Group - India
- Coastal Gujarat Power Limited - India
- Meralco Power Generation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Grasim Industreis Ltd - India
- Sakthi Sugars Limited - India
- London Commodity Brokers - England
- Central Electricity Authority - India
- Kobexindo Tractors - Indoneisa
- Therma Luzon, Inc, Philippines
- Agrawal Coal Company - India
- Ministry of Transport, Egypt
- San Jose City I Power Corp, Philippines
- Sical Logistics Limited - India
- Altura Mining Limited, Indonesia
- Chamber of Mines of South Africa
- Rio Tinto Coal - Australia
- Maharashtra Electricity Regulatory Commission - India
- Salva Resources Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Carbofer General Trading SA - India
- Karbindo Abesyapradhi - Indoneisa
- TNB Fuel Sdn Bhd - Malaysia
- Binh Thuan Hamico - Vietnam
- Cigading International Bulk Terminal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Romanian Commodities Exchange
- Wilmar Investment Holdings
- Jorong Barutama Greston.PT - Indonesia
- Electricity Generating Authority of Thailand
- Dalmia Cement Bharat India
- Simpson Spence & Young - Indonesia
- Ministry of Mines - Canada
- Australian Coal Association
- Petrochimia International Co. Ltd.- Taiwan
- SN Aboitiz Power Inc, Philippines
- VISA Power Limited - India
- Parry Sugars Refinery, India
- Malabar Cements Ltd - India
- Marubeni Corporation - India
- Barasentosa Lestari - Indonesia
- Aditya Birla Group - India
- Jindal Steel & Power Ltd - India
- Semirara Mining Corp, Philippines
- The University of Queensland
- CNBM International Corporation - China
- Indo Tambangraya Megah - Indonesia
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