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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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Monday, 14 September 09
BOOM FORECAST FOR COAL OUTPUT
SMH.com reported that, A COAL investment boom is driving Australian production to new peaks even as our biggest export markets shift towards cleaner ...
Sunday, 13 September 09
COAL INDIA MAY ACQUIRE ASSETS OF RIO TINTO
Coal India’s plan to acquire overseas mining assets is gathering steam. After a breakthrough in Mozambique, the coal behemoth has received&nbs ...
Saturday, 12 September 09
THE INDIA / FAR EAST SEEMS WILL CONTINUE TO BE SOFT UNTIL THE IRON ORE MOVEMENTS PICKS UP - CAPT. REDDY
COALspot.com (Singapore): The dry bulk market continued to be stable at almost as same levels as last week and the BDI was at 2,468 points.
...
Saturday, 12 September 09
GOVT REQUESTS MORE TIME TO ACQUIRE 21% SHARES IN NNT
The Jakarta Post reported that, the government plans to request a postponement for the acquisition of 21 percent shares in PT Newmont Nusa Tenggara ...
Saturday, 12 September 09
INDONESIAN CO KEEN ON TRADING COAL FOR EQUITY IN POWER PROJECTS
Though most large power project promoters have their own mines in Indonesia, MEC is confident of convincing Indian companies as its price is quite a ...
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- Kalimantan Lumbung Energi - Indonesia
- CIMB Investment Bank - Malaysia
- ASAPP Information Group - India
- Essar Steel Hazira Ltd - India
- Riau Bara Harum - Indonesia
- Borneo Indobara - Indonesia
- Miang Besar Coal Terminal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Siam City Cement - Thailand
- Binh Thuan Hamico - Vietnam
- Eastern Coal Council - USA
- Kideco Jaya Agung - Indonesia
- Barasentosa Lestari - Indonesia
- Malabar Cements Ltd - India
- Straits Asia Resources Limited - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- The State Trading Corporation of India Ltd
- Siam City Cement PLC, Thailand
- Formosa Plastics Group - Taiwan
- Semirara Mining Corp, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Power Finance Corporation Ltd., India
- IEA Clean Coal Centre - UK
- GAC Shipping (India) Pvt Ltd
- Alfred C Toepfer International GmbH - Germany
- Renaissance Capital - South Africa
- Dalmia Cement Bharat India
- Meenaskhi Energy Private Limited - India
- SMG Consultants - Indonesia
- White Energy Company Limited
- Vedanta Resources Plc - India
- Samtan Co., Ltd - South Korea
- GVK Power & Infra Limited - India
- Kartika Selabumi Mining - Indonesia
- Intertek Mineral Services - Indonesia
- Indian Oil Corporation Limited
- Sree Jayajothi Cements Limited - India
- Kepco SPC Power Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Sakthi Sugars Limited - India
- Latin American Coal - Colombia
- Kaltim Prima Coal - Indonesia
- Georgia Ports Authority, United States
- Bhoruka Overseas - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Australian Coal Association
- Indonesian Coal Mining Association
- PTC India Limited - India
- Carbofer General Trading SA - India
- ICICI Bank Limited - India
- Gujarat Sidhee Cement - India
- Directorate General of MIneral and Coal - Indonesia
- Banpu Public Company Limited - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bulk Trading Sa - Switzerland
- Metalloyd Limited - United Kingdom
- Global Business Power Corporation, Philippines
- Minerals Council of Australia
- Central Electricity Authority - India
- Semirara Mining and Power Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Port Waratah Coal Services - Australia
- Edison Trading Spa - Italy
- Chettinad Cement Corporation Ltd - India
- South Luzon Thermal Energy Corporation
- PowerSource Philippines DevCo
- Tata Chemicals Ltd - India
- Xindia Steels Limited - India
- Directorate Of Revenue Intelligence - India
- Goldman Sachs - Singapore
- Manunggal Multi Energi - Indonesia
- Wilmar Investment Holdings
- Commonwealth Bank - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Bhatia International Limited - India
- Trasteel International SA, Italy
- Antam Resourcindo - Indonesia
- Simpson Spence & Young - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Indika Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Videocon Industries ltd - India
- Indogreen Group - Indonesia
- Coalindo Energy - Indonesia
- Bangladesh Power Developement Board
- IHS Mccloskey Coal Group - USA
- Uttam Galva Steels Limited - India
- MS Steel International - UAE
- Medco Energi Mining Internasional
- Kohat Cement Company Ltd. - Pakistan
- Sojitz Corporation - Japan
- Indian Energy Exchange, India
- Indo Tambangraya Megah - Indonesia
- Sindya Power Generating Company Private Ltd
- Altura Mining Limited, Indonesia
- Jaiprakash Power Ventures ltd
- Electricity Authority, New Zealand
- Chamber of Mines of South Africa
- Energy Link Ltd, New Zealand
- Africa Commodities Group - South Africa
- PetroVietnam Power Coal Import and Supply Company
- OPG Power Generation Pvt Ltd - India
- Ambuja Cements Ltd - India
- CNBM International Corporation - China
- Cement Manufacturers Association - India
- TeaM Sual Corporation - Philippines
- Oldendorff Carriers - Singapore
- Bayan Resources Tbk. - Indonesia
- Maheswari Brothers Coal Limited - India
- Bharathi Cement Corporation - India
- Wood Mackenzie - Singapore
- Romanian Commodities Exchange
- AsiaOL BioFuels Corp., Philippines
- Mintek Dendrill Indonesia
- Merrill Lynch Commodities Europe
- McConnell Dowell - Australia
- Larsen & Toubro Limited - India
- Energy Development Corp, Philippines
- Leighton Contractors Pty Ltd - Australia
- VISA Power Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Holcim Trading Pte Ltd - Singapore
- Therma Luzon, Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Coastal Gujarat Power Limited - India
- Agrawal Coal Company - India
- Ministry of Transport, Egypt
- Economic Council, Georgia
- Price Waterhouse Coopers - Russia
- Central Java Power - Indonesia
- Mercator Lines Limited - India
- Ministry of Mines - Canada
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Vizag Seaport Private Limited - India
- LBH Netherlands Bv - Netherlands
- Parry Sugars Refinery, India
- Neyveli Lignite Corporation Ltd, - India
- Rashtriya Ispat Nigam Limited - India
- Bukit Makmur.PT - Indonesia
- Singapore Mercantile Exchange
- Timah Investasi Mineral - Indoneisa
- Karaikal Port Pvt Ltd - India
- Australian Commodity Traders Exchange
- Bukit Baiduri Energy - Indonesia
- Star Paper Mills Limited - India
- India Bulls Power Limited - India
- Eastern Energy - Thailand
- Lanco Infratech Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Mjunction Services Limited - India
- Krishnapatnam Port Company Ltd. - India
- Makarim & Taira - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Thai Mozambique Logistica
- Deloitte Consulting - India
- Orica Mining Services - Indonesia
- Savvy Resources Ltd - HongKong
- Independent Power Producers Association of India
- Ministry of Finance - Indonesia
- Sarangani Energy Corporation, Philippines
- The Treasury - Australian Government
- Global Green Power PLC Corporation, Philippines
- Coal and Oil Company - UAE
- Thiess Contractors Indonesia
- Salva Resources Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Attock Cement Pakistan Limited
- Grasim Industreis Ltd - India
- Marubeni Corporation - India
- Toyota Tsusho Corporation, Japan
- Madhucon Powers Ltd - India
- Heidelberg Cement - Germany
- GMR Energy Limited - India
- Standard Chartered Bank - UAE
- Meralco Power Generation, Philippines
- Kumho Petrochemical, South Korea
- Tamil Nadu electricity Board
- Gujarat Electricity Regulatory Commission - India
- Pendopo Energi Batubara - Indonesia
- Aboitiz Power Corporation - Philippines
- Rio Tinto Coal - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Karbindo Abesyapradhi - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- Kapuas Tunggal Persada - Indonesia
- San Jose City I Power Corp, Philippines
- Bhushan Steel Limited - India
- London Commodity Brokers - England
- New Zealand Coal & Carbon
- Mercuria Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sical Logistics Limited - India
- Orica Australia Pty. Ltd.
- Baramulti Group, Indonesia
- Gujarat Mineral Development Corp Ltd - India
- SMC Global Power, Philippines
- Electricity Generating Authority of Thailand
- European Bulk Services B.V. - Netherlands
- Aditya Birla Group - India
- PNOC Exploration Corporation - Philippines
- Jindal Steel & Power Ltd - India
- Posco Energy - South Korea
- Anglo American - United Kingdom
- Maharashtra Electricity Regulatory Commission - India
- Iligan Light & Power Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Parliament of New Zealand
- The University of Queensland
- Ind-Barath Power Infra Limited - India
- Planning Commission, India
- Interocean Group of Companies - India
- Global Coal Blending Company Limited - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Globalindo Alam Lestari - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Petron Corporation, Philippines
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