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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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Thursday, 24 September 09
S.KOREA HYUNDAI STEEL TO BUY COAL FROM SIBERIA
Reuters reported that, South Korea's Hyundai Steel said on Wednesday it will buy a maximum of 300,000 tonnes of coal per year from Siberian Anthrac ...
Thursday, 24 September 09
NO IMPORTED COAL-BASED UMPPS: TATA POWER
Will wait until policy environment becomes more favourable.
Business Standard reported that, Tata Power Company (TPC), India’s largest priv ...
Thursday, 24 September 09
BUMI RAISES $1.9 BILLION SELLING DEBT TO CHINA'S CIC
Bloomberg reported that, PT Bumi Resources, Indonesia’s biggest coal producer, said it raised $1.9 billion selling debt to China’s sover ...
Thursday, 24 September 09
MACQUARIE DOWNGRADES U.S. COAL SECTOR TO NEUTRAL
Reuters reported that, Macquarie Research downgraded the U.S. coal sector to "neutral" from "overweight" as it believes that dem ...
Thursday, 24 September 09
CHINA WILL BE IMPORTER OF COKING COAL NEXT YEAR, MCCLOSKEY SAYS
Bloomberg reported that, China, the world’s largest coal user and producer, will remain an importer of the fuel through next year, according t ...
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- Kumho Petrochemical, South Korea
- Coalindo Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Savvy Resources Ltd - HongKong
- Sinarmas Energy and Mining - Indonesia
- International Coal Ventures Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- McConnell Dowell - Australia
- Leighton Contractors Pty Ltd - Australia
- Banpu Public Company Limited - Thailand
- Georgia Ports Authority, United States
- Aditya Birla Group - India
- Heidelberg Cement - Germany
- Makarim & Taira - Indonesia
- Sical Logistics Limited - India
- Medco Energi Mining Internasional
- CNBM International Corporation - China
- Baramulti Group, Indonesia
- Australian Coal Association
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kohat Cement Company Ltd. - Pakistan
- Salva Resources Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Orica Australia Pty. Ltd.
- Indian Energy Exchange, India
- Iligan Light & Power Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- Australian Commodity Traders Exchange
- Simpson Spence & Young - Indonesia
- Wood Mackenzie - Singapore
- Barasentosa Lestari - Indonesia
- Ministry of Mines - Canada
- Petrochimia International Co. Ltd.- Taiwan
- Economic Council, Georgia
- Gujarat Mineral Development Corp Ltd - India
- Singapore Mercantile Exchange
- PTC India Limited - India
- Uttam Galva Steels Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Siam City Cement PLC, Thailand
- The Treasury - Australian Government
- Vizag Seaport Private Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Rashtriya Ispat Nigam Limited - India
- Bangladesh Power Developement Board
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Commonwealth Bank - Australia
- Meenaskhi Energy Private Limited - India
- Indonesian Coal Mining Association
- GMR Energy Limited - India
- Thai Mozambique Logistica
- Metalloyd Limited - United Kingdom
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Xindia Steels Limited - India
- Merrill Lynch Commodities Europe
- Cement Manufacturers Association - India
- Pendopo Energi Batubara - Indonesia
- Parry Sugars Refinery, India
- Deloitte Consulting - India
- GVK Power & Infra Limited - India
- Attock Cement Pakistan Limited
- GAC Shipping (India) Pvt Ltd
- San Jose City I Power Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- VISA Power Limited - India
- Sree Jayajothi Cements Limited - India
- Bukit Baiduri Energy - Indonesia
- Grasim Industreis Ltd - India
- Intertek Mineral Services - Indonesia
- Tata Chemicals Ltd - India
- London Commodity Brokers - England
- Straits Asia Resources Limited - Singapore
- SMG Consultants - Indonesia
- Anglo American - United Kingdom
- Karaikal Port Pvt Ltd - India
- Malabar Cements Ltd - India
- Vedanta Resources Plc - India
- Jindal Steel & Power Ltd - India
- SN Aboitiz Power Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Jorong Barutama Greston.PT - Indonesia
- South Luzon Thermal Energy Corporation
- Antam Resourcindo - Indonesia
- Semirara Mining Corp, Philippines
- Indogreen Group - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Standard Chartered Bank - UAE
- PetroVietnam Power Coal Import and Supply Company
- CIMB Investment Bank - Malaysia
- Vijayanagar Sugar Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bhatia International Limited - India
- IHS Mccloskey Coal Group - USA
- Manunggal Multi Energi - Indonesia
- Romanian Commodities Exchange
- Mercuria Energy - Indonesia
- Videocon Industries ltd - India
- Sojitz Corporation - Japan
- Indian Oil Corporation Limited
- SMC Global Power, Philippines
- Latin American Coal - Colombia
- Ministry of Finance - Indonesia
- Goldman Sachs - Singapore
- Alfred C Toepfer International GmbH - Germany
- Semirara Mining and Power Corporation, Philippines
- Independent Power Producers Association of India
- Coal and Oil Company - UAE
- Kobexindo Tractors - Indoneisa
- Globalindo Alam Lestari - Indonesia
- PowerSource Philippines DevCo
- Bayan Resources Tbk. - Indonesia
- Power Finance Corporation Ltd., India
- Holcim Trading Pte Ltd - Singapore
- Agrawal Coal Company - India
- Renaissance Capital - South Africa
- Energy Link Ltd, New Zealand
- Eastern Coal Council - USA
- LBH Netherlands Bv - Netherlands
- Central Electricity Authority - India
- Indo Tambangraya Megah - Indonesia
- Directorate Of Revenue Intelligence - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Global Coal Blending Company Limited - Australia
- Port Waratah Coal Services - Australia
- Tamil Nadu electricity Board
- ICICI Bank Limited - India
- Toyota Tsusho Corporation, Japan
- Bhushan Steel Limited - India
- MS Steel International - UAE
- Thiess Contractors Indonesia
- European Bulk Services B.V. - Netherlands
- Bukit Asam (Persero) Tbk - Indonesia
- Larsen & Toubro Limited - India
- Chettinad Cement Corporation Ltd - India
- Maheswari Brothers Coal Limited - India
- Parliament of New Zealand
- White Energy Company Limited
- Bahari Cakrawala Sebuku - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Oldendorff Carriers - Singapore
- Altura Mining Limited, Indonesia
- Petron Corporation, Philippines
- Eastern Energy - Thailand
- Edison Trading Spa - Italy
- Wilmar Investment Holdings
- Offshore Bulk Terminal Pte Ltd, Singapore
- Minerals Council of Australia
- ASAPP Information Group - India
- Sarangani Energy Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Kepco SPC Power Corporation, Philippines
- IEA Clean Coal Centre - UK
- Indika Energy - Indonesia
- India Bulls Power Limited - India
- Riau Bara Harum - Indonesia
- Timah Investasi Mineral - Indoneisa
- Africa Commodities Group - South Africa
- Formosa Plastics Group - Taiwan
- Bukit Makmur.PT - Indonesia
- Star Paper Mills Limited - India
- Electricity Generating Authority of Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Gujarat Electricity Regulatory Commission - India
- Mercator Lines Limited - India
- Ambuja Cements Ltd - India
- Gujarat Sidhee Cement - India
- Siam City Cement - Thailand
- Bulk Trading Sa - Switzerland
- Therma Luzon, Inc, Philippines
- Sakthi Sugars Limited - India
- Central Java Power - Indonesia
- Orica Mining Services - Indonesia
- Mjunction Services Limited - India
- Bharathi Cement Corporation - India
- Price Waterhouse Coopers - Russia
- Trasteel International SA, Italy
- Dalmia Cement Bharat India
- Planning Commission, India
- Chamber of Mines of South Africa
- Sindya Power Generating Company Private Ltd
- Asmin Koalindo Tuhup - Indonesia
- Ministry of Transport, Egypt
- Interocean Group of Companies - India
- OPG Power Generation Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Samtan Co., Ltd - South Korea
- Marubeni Corporation - India
- Kaltim Prima Coal - Indonesia
- The State Trading Corporation of India Ltd
- Ind-Barath Power Infra Limited - India
- TeaM Sual Corporation - Philippines
- Madhucon Powers Ltd - India
- Miang Besar Coal Terminal - Indonesia
- New Zealand Coal & Carbon
- Carbofer General Trading SA - India
- Lanco Infratech Ltd - India
- Jaiprakash Power Ventures ltd
- Rio Tinto Coal - Australia
- Mintek Dendrill Indonesia
- Kartika Selabumi Mining - Indonesia
- Global Business Power Corporation, Philippines
- Energy Development Corp, Philippines
- Coastal Gujarat Power Limited - India
- Borneo Indobara - Indonesia
- Electricity Authority, New Zealand
- The University of Queensland
- AsiaOL BioFuels Corp., Philippines
- Posco Energy - South Korea
- Essar Steel Hazira Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Global Green Power PLC Corporation, Philippines
- Meralco Power Generation, Philippines
- Maharashtra Electricity Regulatory Commission - India
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