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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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Friday, 23 October 09
AUSTRALIA APPROVES CHINESE TAKEOVER OF FELIX RESOURCES
* Australia give conditional approval to China's Felix deal
* Chinese owner must list the assets on Australian exchange
Reuters reported that, ...
Friday, 23 October 09
IVANHOE TARGETING 20 MILLION TONS OF COAL OUTPUT IN MONGOLIA
Bloomberg reported that, Ivanhoe Mines Ltd., developing a $4 billion copper and gold mine in Mongolia with Rio Tinto Group, is targeting long-term c ...
Friday, 23 October 09
XSTRATA PLANS $1BN AUSTRALIAN COAL PORT
Xstrata Plc, the world's biggest exporter of steam coal, plans to build a new $1 billion coal port in Australia, it said.
The proposed Balaclava ...
Friday, 23 October 09
MEXICO'S CFE SEEKS 6.24 MLN T COAL FOR 2010-12
Reuters reported that, Mexico's state-owned power monopoly plans to award a tender for 6.24 million tonnes of steam coal in December, according to ...
Friday, 23 October 09
CIL PRICE HIKE LIKELY TO PUSH POWER RATES UP
Business-Standard reported that, May squeeze cement companies’ margins, but the steel sector is unlikely to be affected much.
The upward re ...
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- PTC India Limited - India
- Directorate Of Revenue Intelligence - India
- Indian Oil Corporation Limited
- Orica Australia Pty. Ltd.
- Ministry of Transport, Egypt
- Gujarat Sidhee Cement - India
- Gujarat Electricity Regulatory Commission - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- IHS Mccloskey Coal Group - USA
- Mintek Dendrill Indonesia
- Latin American Coal - Colombia
- GN Power Mariveles Coal Plant, Philippines
- Manunggal Multi Energi - Indonesia
- Siam City Cement - Thailand
- Global Coal Blending Company Limited - Australia
- Wilmar Investment Holdings
- Globalindo Alam Lestari - Indonesia
- Thiess Contractors Indonesia
- Kaltim Prima Coal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Videocon Industries ltd - India
- Sarangani Energy Corporation, Philippines
- SMC Global Power, Philippines
- Bulk Trading Sa - Switzerland
- Global Business Power Corporation, Philippines
- Georgia Ports Authority, United States
- Gujarat Mineral Development Corp Ltd - India
- Price Waterhouse Coopers - Russia
- IEA Clean Coal Centre - UK
- Bayan Resources Tbk. - Indonesia
- Ind-Barath Power Infra Limited - India
- Sinarmas Energy and Mining - Indonesia
- Banpu Public Company Limited - Thailand
- Goldman Sachs - Singapore
- SMG Consultants - Indonesia
- Metalloyd Limited - United Kingdom
- CNBM International Corporation - China
- LBH Netherlands Bv - Netherlands
- Energy Development Corp, Philippines
- Attock Cement Pakistan Limited
- Malabar Cements Ltd - India
- Renaissance Capital - South Africa
- Energy Link Ltd, New Zealand
- Directorate General of MIneral and Coal - Indonesia
- GMR Energy Limited - India
- Pendopo Energi Batubara - Indonesia
- San Jose City I Power Corp, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GAC Shipping (India) Pvt Ltd
- Dalmia Cement Bharat India
- Bharathi Cement Corporation - India
- Straits Asia Resources Limited - Singapore
- Singapore Mercantile Exchange
- London Commodity Brokers - England
- SN Aboitiz Power Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Chamber of Mines of South Africa
- VISA Power Limited - India
- ICICI Bank Limited - India
- Kepco SPC Power Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Kobexindo Tractors - Indoneisa
- Economic Council, Georgia
- Commonwealth Bank - Australia
- Krishnapatnam Port Company Ltd. - India
- Alfred C Toepfer International GmbH - Germany
- White Energy Company Limited
- Miang Besar Coal Terminal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Eastern Energy - Thailand
- Africa Commodities Group - South Africa
- Borneo Indobara - Indonesia
- Coastal Gujarat Power Limited - India
- Formosa Plastics Group - Taiwan
- Interocean Group of Companies - India
- Oldendorff Carriers - Singapore
- Cement Manufacturers Association - India
- Power Finance Corporation Ltd., India
- Therma Luzon, Inc, Philippines
- MS Steel International - UAE
- Wood Mackenzie - Singapore
- The State Trading Corporation of India Ltd
- Global Green Power PLC Corporation, Philippines
- Thai Mozambique Logistica
- Tamil Nadu electricity Board
- South Luzon Thermal Energy Corporation
- Karaikal Port Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Kumho Petrochemical, South Korea
- New Zealand Coal & Carbon
- Billiton Holdings Pty Ltd - Australia
- Australian Coal Association
- Timah Investasi Mineral - Indoneisa
- Planning Commission, India
- Parliament of New Zealand
- Mjunction Services Limited - India
- PNOC Exploration Corporation - Philippines
- Rio Tinto Coal - Australia
- Salva Resources Pvt Ltd - India
- Tata Chemicals Ltd - India
- The University of Queensland
- Holcim Trading Pte Ltd - Singapore
- Electricity Generating Authority of Thailand
- Indika Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Jaiprakash Power Ventures ltd
- Baramulti Group, Indonesia
- Grasim Industreis Ltd - India
- TeaM Sual Corporation - Philippines
- Barasentosa Lestari - Indonesia
- Bukit Baiduri Energy - Indonesia
- PowerSource Philippines DevCo
- The Treasury - Australian Government
- Sakthi Sugars Limited - India
- Meralco Power Generation, Philippines
- Trasteel International SA, Italy
- Sree Jayajothi Cements Limited - India
- Siam City Cement PLC, Thailand
- Merrill Lynch Commodities Europe
- Ambuja Cements Ltd - India
- Chettinad Cement Corporation Ltd - India
- Indonesian Coal Mining Association
- Karbindo Abesyapradhi - Indoneisa
- Kalimantan Lumbung Energi - Indonesia
- Electricity Authority, New Zealand
- Minerals Council of Australia
- Eastern Coal Council - USA
- Ministry of Finance - Indonesia
- Ceylon Electricity Board - Sri Lanka
- India Bulls Power Limited - India
- Deloitte Consulting - India
- Intertek Mineral Services - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Parry Sugars Refinery, India
- Pipit Mutiara Jaya. PT, Indonesia
- Independent Power Producers Association of India
- Petrochimia International Co. Ltd.- Taiwan
- Toyota Tsusho Corporation, Japan
- Asmin Koalindo Tuhup - Indonesia
- Bhatia International Limited - India
- Petron Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Anglo American - United Kingdom
- Coal and Oil Company - UAE
- Edison Trading Spa - Italy
- Larsen & Toubro Limited - India
- Sojitz Corporation - Japan
- Maheswari Brothers Coal Limited - India
- Indogreen Group - Indonesia
- Simpson Spence & Young - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- McConnell Dowell - Australia
- Posco Energy - South Korea
- Coalindo Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Cigading International Bulk Terminal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Indian Energy Exchange, India
- Semirara Mining Corp, Philippines
- Vedanta Resources Plc - India
- Bahari Cakrawala Sebuku - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Altura Mining Limited, Indonesia
- Central Electricity Authority - India
- Lanco Infratech Ltd - India
- Rashtriya Ispat Nigam Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Romanian Commodities Exchange
- Sical Logistics Limited - India
- Bhoruka Overseas - Indonesia
- OPG Power Generation Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Ministry of Mines - Canada
- Sindya Power Generating Company Private Ltd
- Maharashtra Electricity Regulatory Commission - India
- Medco Energi Mining Internasional
- Mercuria Energy - Indonesia
- Antam Resourcindo - Indonesia
- Marubeni Corporation - India
- Bukit Asam (Persero) Tbk - Indonesia
- Star Paper Mills Limited - India
- Heidelberg Cement - Germany
- Mercator Lines Limited - India
- Bangladesh Power Developement Board
- Xindia Steels Limited - India
- Makarim & Taira - Indonesia
- Essar Steel Hazira Ltd - India
- Australian Commodity Traders Exchange
- Aditya Birla Group - India
- Bhushan Steel Limited - India
- Uttam Galva Steels Limited - India
- International Coal Ventures Pvt Ltd - India
- Port Waratah Coal Services - Australia
- ASAPP Information Group - India
- Agrawal Coal Company - India
- Savvy Resources Ltd - HongKong
- Kohat Cement Company Ltd. - Pakistan
- CIMB Investment Bank - Malaysia
- Indo Tambangraya Megah - Indonesia
- Orica Mining Services - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vizag Seaport Private Limited - India
- Bukit Makmur.PT - Indonesia
- Madhucon Powers Ltd - India
- Central Java Power - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Samtan Co., Ltd - South Korea
- Carbofer General Trading SA - India
- GVK Power & Infra Limited - India
- Standard Chartered Bank - UAE
- Binh Thuan Hamico - Vietnam
- Riau Bara Harum - Indonesia
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