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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, 04 October 09
GOVT THREATENS TO CANCEL COAL BLOCK ALLOTTED TO BINANI CEMENT
Economic Times reported that, The government has threatened to cancel a coal block allocated for captive use to Binani Cement saying the company see ...
Saturday, 03 October 09
SHORT PERIOD RATES FOR SUPRAMAX WAS AROUND US$ 17,000 PER DAY FOR VESSELS OPENING FAR EAST / SE ASIA - VISTAAR
COALspot.com (Singapore): The BDI firmed up this week by almost 8 pct to 2,357 points , the main reason being jump in Cape size index by almost 22 p ...
Friday, 02 October 09
C&O SEES INDONESIA COAL PURCHASES UP 20 PCT IN 2010
Reuters reported that, Dubai-based coal trader Coal & Oil (C&0) expects its coal purchases from Indonesia to increase by at least 20 percent ...
Thursday, 01 October 09
MJUNCTION LAUNCHES INDIA'S FIRST COAL SPOT PRICE INDEX
• Named 'MJcomposite, MJsteel, MJcement, MJpower' the value weighted index will benefit Indian coal buyers by minimising risk against pr ...
Wednesday, 30 September 09
INDIA CEMENTS SET TO PRODUCE POWER; EYES COAL MINE IN INDONESIA
Financial Express reported that, Tamil Nadu-based India Cements Ltd (ICL) has firmed up plans to produce power to meet its current and future requir ...
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- Antam Resourcindo - Indonesia
- Directorate Of Revenue Intelligence - India
- Formosa Plastics Group - Taiwan
- International Coal Ventures Pvt Ltd - India
- ASAPP Information Group - India
- Uttam Galva Steels Limited - India
- Chettinad Cement Corporation Ltd - India
- Dalmia Cement Bharat India
- Petrochimia International Co. Ltd.- Taiwan
- Economic Council, Georgia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Petron Corporation, Philippines
- Ambuja Cements Ltd - India
- Posco Energy - South Korea
- Pendopo Energi Batubara - Indonesia
- Lanco Infratech Ltd - India
- Toyota Tsusho Corporation, Japan
- OPG Power Generation Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Georgia Ports Authority, United States
- Gujarat Electricity Regulatory Commission - India
- Global Green Power PLC Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Ministry of Finance - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Banpu Public Company Limited - Thailand
- Indonesian Coal Mining Association
- Attock Cement Pakistan Limited
- Electricity Generating Authority of Thailand
- Ind-Barath Power Infra Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- CIMB Investment Bank - Malaysia
- Goldman Sachs - Singapore
- PTC India Limited - India
- Simpson Spence & Young - Indonesia
- Mintek Dendrill Indonesia
- Leighton Contractors Pty Ltd - Australia
- Global Coal Blending Company Limited - Australia
- Sindya Power Generating Company Private Ltd
- PetroVietnam Power Coal Import and Supply Company
- Semirara Mining and Power Corporation, Philippines
- Orica Mining Services - Indonesia
- Interocean Group of Companies - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Billiton Holdings Pty Ltd - Australia
- Aboitiz Power Corporation - Philippines
- Miang Besar Coal Terminal - Indonesia
- Vizag Seaport Private Limited - India
- GVK Power & Infra Limited - India
- Essar Steel Hazira Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Samtan Co., Ltd - South Korea
- Bukit Baiduri Energy - Indonesia
- London Commodity Brokers - England
- Commonwealth Bank - Australia
- Indika Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Barasentosa Lestari - Indonesia
- PowerSource Philippines DevCo
- Eastern Coal Council - USA
- The Treasury - Australian Government
- Baramulti Group, Indonesia
- Ministry of Transport, Egypt
- Bukit Asam (Persero) Tbk - Indonesia
- Metalloyd Limited - United Kingdom
- Globalindo Alam Lestari - Indonesia
- Kideco Jaya Agung - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- GMR Energy Limited - India
- Coastal Gujarat Power Limited - India
- Binh Thuan Hamico - Vietnam
- SN Aboitiz Power Inc, Philippines
- Chamber of Mines of South Africa
- White Energy Company Limited
- Indian Energy Exchange, India
- Siam City Cement - Thailand
- Bhoruka Overseas - Indonesia
- Wilmar Investment Holdings
- Bulk Trading Sa - Switzerland
- Xindia Steels Limited - India
- Indian Oil Corporation Limited
- Agrawal Coal Company - India
- Jaiprakash Power Ventures ltd
- Edison Trading Spa - Italy
- Iligan Light & Power Inc, Philippines
- Tata Chemicals Ltd - India
- Madhucon Powers Ltd - India
- Vedanta Resources Plc - India
- Australian Commodity Traders Exchange
- Trasteel International SA, Italy
- Timah Investasi Mineral - Indoneisa
- TeaM Sual Corporation - Philippines
- Ceylon Electricity Board - Sri Lanka
- Sojitz Corporation - Japan
- GN Power Mariveles Coal Plant, Philippines
- Deloitte Consulting - India
- Rio Tinto Coal - Australia
- Renaissance Capital - South Africa
- Larsen & Toubro Limited - India
- India Bulls Power Limited - India
- The University of Queensland
- Eastern Energy - Thailand
- Salva Resources Pvt Ltd - India
- Mercator Lines Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Straits Asia Resources Limited - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Meralco Power Generation, Philippines
- Makarim & Taira - Indonesia
- VISA Power Limited - India
- Global Business Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Mjunction Services Limited - India
- Australian Coal Association
- McConnell Dowell - Australia
- Central Java Power - Indonesia
- Merrill Lynch Commodities Europe
- GAC Shipping (India) Pvt Ltd
- Karaikal Port Pvt Ltd - India
- Bharathi Cement Corporation - India
- Indogreen Group - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Riau Bara Harum - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Price Waterhouse Coopers - Russia
- New Zealand Coal & Carbon
- Alfred C Toepfer International GmbH - Germany
- Sree Jayajothi Cements Limited - India
- Romanian Commodities Exchange
- PNOC Exploration Corporation - Philippines
- Gujarat Sidhee Cement - India
- Therma Luzon, Inc, Philippines
- Jindal Steel & Power Ltd - India
- CNBM International Corporation - China
- Rashtriya Ispat Nigam Limited - India
- Energy Development Corp, Philippines
- Bangladesh Power Developement Board
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Central Electricity Authority - India
- Manunggal Multi Energi - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Sical Logistics Limited - India
- Independent Power Producers Association of India
- IEA Clean Coal Centre - UK
- Kartika Selabumi Mining - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Coal and Oil Company - UAE
- Sarangani Energy Corporation, Philippines
- Energy Link Ltd, New Zealand
- Intertek Mineral Services - Indonesia
- Star Paper Mills Limited - India
- Kaltim Prima Coal - Indonesia
- Parliament of New Zealand
- Coalindo Energy - Indonesia
- Aditya Birla Group - India
- Meenaskhi Energy Private Limited - India
- Kapuas Tunggal Persada - Indonesia
- Cement Manufacturers Association - India
- Videocon Industries ltd - India
- Thai Mozambique Logistica
- Bhushan Steel Limited - India
- Singapore Mercantile Exchange
- European Bulk Services B.V. - Netherlands
- IHS Mccloskey Coal Group - USA
- Semirara Mining Corp, Philippines
- Mercuria Energy - Indonesia
- Power Finance Corporation Ltd., India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Neyveli Lignite Corporation Ltd, - India
- Medco Energi Mining Internasional
- MS Steel International - UAE
- Vijayanagar Sugar Pvt Ltd - India
- Marubeni Corporation - India
- Sakthi Sugars Limited - India
- Electricity Authority, New Zealand
- Altura Mining Limited, Indonesia
- Siam City Cement PLC, Thailand
- Heidelberg Cement - Germany
- Port Waratah Coal Services - Australia
- San Jose City I Power Corp, Philippines
- Ministry of Mines - Canada
- Pipit Mutiara Jaya. PT, Indonesia
- Oldendorff Carriers - Singapore
- Orica Australia Pty. Ltd.
- Thiess Contractors Indonesia
- Anglo American - United Kingdom
- Kalimantan Lumbung Energi - Indonesia
- Africa Commodities Group - South Africa
- Malabar Cements Ltd - India
- LBH Netherlands Bv - Netherlands
- Kumho Petrochemical, South Korea
- Parry Sugars Refinery, India
- Tamil Nadu electricity Board
- Kobexindo Tractors - Indoneisa
- Planning Commission, India
- Bayan Resources Tbk. - Indonesia
- Minerals Council of Australia
- SMC Global Power, Philippines
- Latin American Coal - Colombia
- Savvy Resources Ltd - HongKong
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Grasim Industreis Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Standard Chartered Bank - UAE
- Carbofer General Trading SA - India
- Wood Mackenzie - Singapore
- Bhatia International Limited - India
- ICICI Bank Limited - India
- South Luzon Thermal Energy Corporation
- SMG Consultants - Indonesia
- Kepco SPC Power Corporation, Philippines
- Borneo Indobara - Indonesia
- The State Trading Corporation of India Ltd
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