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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, 23 September 09
TATA POWER TO COMMISSION 2 UNITS OF MUNDRA UMPP BY FEB 2012
Business Standard reported that, the country's largest private power producer Tata Power today said it would commission 1,600 MW capacity of its 4, ...
Wednesday, 23 September 09
NAVA BHARAT TO ADD 300MW CAPACITY, RAISE RS1,386 CRORE (US$ 289,674,610)
The firm plans to place orders for equipment by the end of October and commission both the plants by April 2012 to sell power in the open market
...
Tuesday, 22 September 09
ASIA COAL-PRICES TOPS $70 AS TRADERS SEEK BARGAINS
Reuters reported that, prices of power-station coal in Australia, a benchmark for Asia, rose for the second week to top $70 a tonne this week, clawi ...
Tuesday, 22 September 09
QINHUANGDAO COAL PRICES SURGE ON STRONG DEMAND
People's Daily Online reported that, Coal prices at Qinhuangdao port, China's largest coal port, witnessed the sharpest increase in the year last ...
Tuesday, 22 September 09
SHORT PERIOD RATE FOR SUPRAMAX WAS AROUND US$ 17,000 PER DAY FOR VESSELS OPENING FAR EAST / SE ASIA - VISTAAR
COALspot.com (Singapore): The dry bulk market continued to be stable with the BDI just dropping by about 5 pct to 2,356 points last week. The change ...
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- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- The Treasury - Australian Government
- OPG Power Generation Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Mintek Dendrill Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Malabar Cements Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Aboitiz Power Corporation - Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Chamber of Mines of South Africa
- Ministry of Finance - Indonesia
- Riau Bara Harum - Indonesia
- Global Business Power Corporation, Philippines
- Commonwealth Bank - Australia
- Coal and Oil Company - UAE
- PNOC Exploration Corporation - Philippines
- Timah Investasi Mineral - Indoneisa
- White Energy Company Limited
- Antam Resourcindo - Indonesia
- Metalloyd Limited - United Kingdom
- Straits Asia Resources Limited - Singapore
- Independent Power Producers Association of India
- Ambuja Cements Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kartika Selabumi Mining - Indonesia
- Bukit Makmur.PT - Indonesia
- Uttam Galva Steels Limited - India
- Jindal Steel & Power Ltd - India
- Bangladesh Power Developement Board
- IHS Mccloskey Coal Group - USA
- Mercuria Energy - Indonesia
- Port Waratah Coal Services - Australia
- San Jose City I Power Corp, Philippines
- Grasim Industreis Ltd - India
- European Bulk Services B.V. - Netherlands
- Australian Commodity Traders Exchange
- Krishnapatnam Port Company Ltd. - India
- McConnell Dowell - Australia
- Agrawal Coal Company - India
- Formosa Plastics Group - Taiwan
- MS Steel International - UAE
- Bhatia International Limited - India
- South Luzon Thermal Energy Corporation
- Deloitte Consulting - India
- Simpson Spence & Young - Indonesia
- Bhoruka Overseas - Indonesia
- SMG Consultants - Indonesia
- Kumho Petrochemical, South Korea
- Baramulti Group, Indonesia
- Tamil Nadu electricity Board
- Ministry of Mines - Canada
- Central Java Power - Indonesia
- Meralco Power Generation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Essar Steel Hazira Ltd - India
- Bukit Baiduri Energy - Indonesia
- Merrill Lynch Commodities Europe
- Ministry of Transport, Egypt
- Trasteel International SA, Italy
- CNBM International Corporation - China
- Eastern Coal Council - USA
- Directorate General of MIneral and Coal - Indonesia
- Siam City Cement PLC, Thailand
- Wilmar Investment Holdings
- Semirara Mining Corp, Philippines
- Wood Mackenzie - Singapore
- Kepco SPC Power Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Minerals Council of Australia
- Karbindo Abesyapradhi - Indoneisa
- Indian Oil Corporation Limited
- Indo Tambangraya Megah - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Energy Development Corp, Philippines
- Indian Energy Exchange, India
- Therma Luzon, Inc, Philippines
- Star Paper Mills Limited - India
- Intertek Mineral Services - Indonesia
- Planning Commission, India
- Electricity Authority, New Zealand
- Kalimantan Lumbung Energi - Indonesia
- Orica Australia Pty. Ltd.
- Mjunction Services Limited - India
- Bayan Resources Tbk. - Indonesia
- Price Waterhouse Coopers - Russia
- Central Electricity Authority - India
- Edison Trading Spa - Italy
- Electricity Generating Authority of Thailand
- Latin American Coal - Colombia
- The University of Queensland
- Power Finance Corporation Ltd., India
- Sojitz Corporation - Japan
- Attock Cement Pakistan Limited
- Salva Resources Pvt Ltd - India
- Bhushan Steel Limited - India
- India Bulls Power Limited - India
- Indonesian Coal Mining Association
- Eastern Energy - Thailand
- Iligan Light & Power Inc, Philippines
- Coalindo Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Kaltim Prima Coal - Indonesia
- Dalmia Cement Bharat India
- Altura Mining Limited, Indonesia
- Lanco Infratech Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indika Energy - Indonesia
- London Commodity Brokers - England
- Videocon Industries ltd - India
- LBH Netherlands Bv - Netherlands
- Ceylon Electricity Board - Sri Lanka
- Orica Mining Services - Indonesia
- Standard Chartered Bank - UAE
- Singapore Mercantile Exchange
- SMC Global Power, Philippines
- Petron Corporation, Philippines
- Thiess Contractors Indonesia
- Georgia Ports Authority, United States
- Madhucon Powers Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Bharathi Cement Corporation - India
- Chettinad Cement Corporation Ltd - India
- Global Coal Blending Company Limited - Australia
- Vedanta Resources Plc - India
- Oldendorff Carriers - Singapore
- Heidelberg Cement - Germany
- Kobexindo Tractors - Indoneisa
- Samtan Co., Ltd - South Korea
- Holcim Trading Pte Ltd - Singapore
- CIMB Investment Bank - Malaysia
- Leighton Contractors Pty Ltd - Australia
- Sindya Power Generating Company Private Ltd
- Energy Link Ltd, New Zealand
- PowerSource Philippines DevCo
- Rashtriya Ispat Nigam Limited - India
- ASAPP Information Group - India
- PTC India Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Anglo American - United Kingdom
- Sree Jayajothi Cements Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Billiton Holdings Pty Ltd - Australia
- GVK Power & Infra Limited - India
- Tata Chemicals Ltd - India
- Pendopo Energi Batubara - Indonesia
- Globalindo Alam Lestari - Indonesia
- Cement Manufacturers Association - India
- Gujarat Electricity Regulatory Commission - India
- Semirara Mining and Power Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Carbofer General Trading SA - India
- Gujarat Sidhee Cement - India
- TNB Fuel Sdn Bhd - Malaysia
- Australian Coal Association
- New Zealand Coal & Carbon
- GN Power Mariveles Coal Plant, Philippines
- SN Aboitiz Power Inc, Philippines
- ICICI Bank Limited - India
- Romanian Commodities Exchange
- Parliament of New Zealand
- Manunggal Multi Energi - Indonesia
- Aditya Birla Group - India
- Savvy Resources Ltd - HongKong
- Renaissance Capital - South Africa
- Posco Energy - South Korea
- Borneo Indobara - Indonesia
- Barasentosa Lestari - Indonesia
- Mercator Lines Limited - India
- Siam City Cement - Thailand
- Sakthi Sugars Limited - India
- Vizag Seaport Private Limited - India
- International Coal Ventures Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Makarim & Taira - Indonesia
- Karaikal Port Pvt Ltd - India
- Indogreen Group - Indonesia
- Banpu Public Company Limited - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- GMR Energy Limited - India
- Parry Sugars Refinery, India
- Sarangani Energy Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Coastal Gujarat Power Limited - India
- Marubeni Corporation - India
- Cigading International Bulk Terminal - Indonesia
- The State Trading Corporation of India Ltd
- VISA Power Limited - India
- Goldman Sachs - Singapore
- Thai Mozambique Logistica
- Africa Commodities Group - South Africa
- Economic Council, Georgia
- Miang Besar Coal Terminal - Indonesia
- Sical Logistics Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Maharashtra Electricity Regulatory Commission - India
- Medco Energi Mining Internasional
- Directorate Of Revenue Intelligence - India
- Interocean Group of Companies - India
- TeaM Sual Corporation - Philippines
- Xindia Steels Limited - India
- Rio Tinto Coal - Australia
- Jorong Barutama Greston.PT - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Ind-Barath Power Infra Limited - India
- Global Green Power PLC Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Meenaskhi Energy Private Limited - India
- Maheswari Brothers Coal Limited - India
- Larsen & Toubro Limited - India
- Kideco Jaya Agung - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Asmin Koalindo Tuhup - Indonesia
- GAC Shipping (India) Pvt Ltd
- Binh Thuan Hamico - Vietnam
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