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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, 28 August 09
JSW MAY BUY AFRICAN MINE FOR US$ 350
The Economic Times Reported that, The Sajjan Jindal-owned JSW Group is in advanced talks to acquire a coal mine in Swaziland, Africa, at an estimate ...
Friday, 28 August 09
COAL INDIA ALLOWED TO IMPORT COKING COAL
The government Thursday allowed the state-owned Coal India to import coking coal and high grade ash thermal coal by acquiring coal properties abroad ...
Thursday, 27 August 09
CIL TO SPEND US$ 1 - 1.5 BN TO ACQUIRE ASSETS IN 4 COUNTRIES
Business Standard reported that, "Coal India is looking to spend $1-1.5 billion in acquiring mining assets in Australia, Indonesia, South Afric ...
Wednesday, 26 August 09
INDIA'S JSW TO DOUBLE JAIGARH PORT CAPACITY TO 20 MT
Sea Trade Asia reported that, JSW Jaigarh Port, a wholly owned subsidiary of JSW Infrastructure & Logistics, plans to double cargo handling capa ...
Wednesday, 26 August 09
JSW ENERGY NEARS COAL-SUPPLY LINKAGE DEAL IN INDONESIA
Sajjan Jindal-owned JSW Energy is close to finalising a coal-supply linkage pact in Indonesia and is also exploring options of acquiring ...
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- Latin American Coal - Colombia
- Alfred C Toepfer International GmbH - Germany
- SMC Global Power, Philippines
- Bangladesh Power Developement Board
- Bukit Asam (Persero) Tbk - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Ministry of Transport, Egypt
- Banpu Public Company Limited - Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Carbofer General Trading SA - India
- Toyota Tsusho Corporation, Japan
- ASAPP Information Group - India
- India Bulls Power Limited - India
- Parry Sugars Refinery, India
- Meralco Power Generation, Philippines
- Independent Power Producers Association of India
- Orica Mining Services - Indonesia
- IHS Mccloskey Coal Group - USA
- White Energy Company Limited
- Pendopo Energi Batubara - Indonesia
- Global Green Power PLC Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Bukit Baiduri Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- McConnell Dowell - Australia
- Ambuja Cements Ltd - India
- Metalloyd Limited - United Kingdom
- Goldman Sachs - Singapore
- Xindia Steels Limited - India
- Vizag Seaport Private Limited - India
- Holcim Trading Pte Ltd - Singapore
- ICICI Bank Limited - India
- IEA Clean Coal Centre - UK
- Offshore Bulk Terminal Pte Ltd, Singapore
- PetroVietnam Power Coal Import and Supply Company
- Kideco Jaya Agung - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Ministry of Finance - Indonesia
- Parliament of New Zealand
- PowerSource Philippines DevCo
- Planning Commission, India
- Australian Commodity Traders Exchange
- Miang Besar Coal Terminal - Indonesia
- Coal and Oil Company - UAE
- Power Finance Corporation Ltd., India
- Mercator Lines Limited - India
- Semirara Mining and Power Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Minerals Council of Australia
- Ind-Barath Power Infra Limited - India
- Indogreen Group - Indonesia
- Commonwealth Bank - Australia
- Energy Development Corp, Philippines
- Economic Council, Georgia
- Posco Energy - South Korea
- Gujarat Electricity Regulatory Commission - India
- Sree Jayajothi Cements Limited - India
- Bhatia International Limited - India
- Riau Bara Harum - Indonesia
- Price Waterhouse Coopers - Russia
- Kartika Selabumi Mining - Indonesia
- The State Trading Corporation of India Ltd
- Antam Resourcindo - Indonesia
- Karaikal Port Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Petron Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Siam City Cement - Thailand
- MS Steel International - UAE
- Gujarat Mineral Development Corp Ltd - India
- Essar Steel Hazira Ltd - India
- Port Waratah Coal Services - Australia
- Grasim Industreis Ltd - India
- TeaM Sual Corporation - Philippines
- South Luzon Thermal Energy Corporation
- Global Coal Blending Company Limited - Australia
- Kepco SPC Power Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Wilmar Investment Holdings
- Altura Mining Limited, Indonesia
- Manunggal Multi Energi - Indonesia
- Bayan Resources Tbk. - Indonesia
- Mjunction Services Limited - India
- Cement Manufacturers Association - India
- Chamber of Mines of South Africa
- VISA Power Limited - India
- Indonesian Coal Mining Association
- Sinarmas Energy and Mining - Indonesia
- Interocean Group of Companies - India
- Meenaskhi Energy Private Limited - India
- Salva Resources Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Timah Investasi Mineral - Indoneisa
- PTC India Limited - India
- New Zealand Coal & Carbon
- Trasteel International SA, Italy
- PNOC Exploration Corporation - Philippines
- Thiess Contractors Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Malabar Cements Ltd - India
- Barasentosa Lestari - Indonesia
- Chettinad Cement Corporation Ltd - India
- Romanian Commodities Exchange
- Neyveli Lignite Corporation Ltd, - India
- Wood Mackenzie - Singapore
- Anglo American - United Kingdom
- Binh Thuan Hamico - Vietnam
- Attock Cement Pakistan Limited
- Georgia Ports Authority, United States
- Bahari Cakrawala Sebuku - Indonesia
- Indian Oil Corporation Limited
- Sarangani Energy Corporation, Philippines
- Merrill Lynch Commodities Europe
- Kobexindo Tractors - Indoneisa
- Indian Energy Exchange, India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Coalindo Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Ministry of Mines - Canada
- Tata Chemicals Ltd - India
- Orica Australia Pty. Ltd.
- Sical Logistics Limited - India
- Bharathi Cement Corporation - India
- GMR Energy Limited - India
- Star Paper Mills Limited - India
- Bhushan Steel Limited - India
- Semirara Mining Corp, Philippines
- Jaiprakash Power Ventures ltd
- GVK Power & Infra Limited - India
- The University of Queensland
- Iligan Light & Power Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Electricity Authority, New Zealand
- Agrawal Coal Company - India
- Global Business Power Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Electricity Generating Authority of Thailand
- CIMB Investment Bank - Malaysia
- Central Java Power - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Gujarat Sidhee Cement - India
- Rio Tinto Coal - Australia
- Kumho Petrochemical, South Korea
- Sojitz Corporation - Japan
- Edison Trading Spa - Italy
- Siam City Cement PLC, Thailand
- SN Aboitiz Power Inc, Philippines
- Tamil Nadu electricity Board
- OPG Power Generation Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Directorate Of Revenue Intelligence - India
- Africa Commodities Group - South Africa
- Eastern Energy - Thailand
- The Treasury - Australian Government
- Marubeni Corporation - India
- Standard Chartered Bank - UAE
- Formosa Plastics Group - Taiwan
- Globalindo Alam Lestari - Indonesia
- Heidelberg Cement - Germany
- Madhucon Powers Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Uttam Galva Steels Limited - India
- LBH Netherlands Bv - Netherlands
- Jindal Steel & Power Ltd - India
- Makarim & Taira - Indonesia
- Maheswari Brothers Coal Limited - India
- Medco Energi Mining Internasional
- Energy Link Ltd, New Zealand
- GAC Shipping (India) Pvt Ltd
- International Coal Ventures Pvt Ltd - India
- Mintek Dendrill Indonesia
- London Commodity Brokers - England
- Asmin Koalindo Tuhup - Indonesia
- Sindya Power Generating Company Private Ltd
- Bukit Makmur.PT - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Therma Luzon, Inc, Philippines
- Deloitte Consulting - India
- Vedanta Resources Plc - India
- Intertek Mineral Services - Indonesia
- Thai Mozambique Logistica
- Mercuria Energy - Indonesia
- Australian Coal Association
- Straits Asia Resources Limited - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- SMG Consultants - Indonesia
- AsiaOL BioFuels Corp., Philippines
- European Bulk Services B.V. - Netherlands
- Dalmia Cement Bharat India
- CNBM International Corporation - China
- Savvy Resources Ltd - HongKong
- Sakthi Sugars Limited - India
- Coastal Gujarat Power Limited - India
- Larsen & Toubro Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Baramulti Group, Indonesia
- Singapore Mercantile Exchange
- Renaissance Capital - South Africa
- Krishnapatnam Port Company Ltd. - India
- Kohat Cement Company Ltd. - Pakistan
- Indika Energy - Indonesia
- Aditya Birla Group - India
- Lanco Infratech Ltd - India
- Eastern Coal Council - USA
- San Jose City I Power Corp, Philippines
- Oldendorff Carriers - Singapore
- Borneo Indobara - Indonesia
- Central Electricity Authority - India
- Aboitiz Power Corporation - Philippines
- Videocon Industries ltd - India
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