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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, 17 August 09
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- Energy Development Corp, Philippines
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- Planning Commission, India
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- Leighton Contractors Pty Ltd - Australia
- Semirara Mining and Power Corporation, Philippines
- Australian Commodity Traders Exchange
- LBH Netherlands Bv - Netherlands
- Medco Energi Mining Internasional
- Bank of Tokyo Mitsubishi UFJ Ltd
- MS Steel International - UAE
- Romanian Commodities Exchange
- Sindya Power Generating Company Private Ltd
- Agrawal Coal Company - India
- CNBM International Corporation - China
- Simpson Spence & Young - Indonesia
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- Toyota Tsusho Corporation, Japan
- VISA Power Limited - India
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- Bharathi Cement Corporation - India
- Eastern Coal Council - USA
- Singapore Mercantile Exchange
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- Mjunction Services Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Semirara Mining Corp, Philippines
- Posco Energy - South Korea
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Coal and Oil Company - UAE
- Karaikal Port Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Georgia Ports Authority, United States
- Bukit Makmur.PT - Indonesia
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- Global Green Power PLC Corporation, Philippines
- Latin American Coal - Colombia
- Wilmar Investment Holdings
- Indonesian Coal Mining Association
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- Siam City Cement - Thailand
- Salva Resources Pvt Ltd - India
- Ministry of Mines - Canada
- Asmin Koalindo Tuhup - Indonesia
- Intertek Mineral Services - Indonesia
- ASAPP Information Group - India
- Electricity Generating Authority of Thailand
- IHS Mccloskey Coal Group - USA
- Billiton Holdings Pty Ltd - Australia
- Samtan Co., Ltd - South Korea
- Manunggal Multi Energi - Indonesia
- Tata Chemicals Ltd - India
- Carbofer General Trading SA - India
- The Treasury - Australian Government
- Binh Thuan Hamico - Vietnam
- Bhoruka Overseas - Indonesia
- GAC Shipping (India) Pvt Ltd
- Bangladesh Power Developement Board
- Price Waterhouse Coopers - Russia
- Formosa Plastics Group - Taiwan
- Coastal Gujarat Power Limited - India
- Bhushan Steel Limited - India
- India Bulls Power Limited - India
- Rio Tinto Coal - Australia
- Electricity Authority, New Zealand
- Deloitte Consulting - India
- Port Waratah Coal Services - Australia
- International Coal Ventures Pvt Ltd - India
- Bhatia International Limited - India
- Attock Cement Pakistan Limited
- Timah Investasi Mineral - Indoneisa
- Jindal Steel & Power Ltd - India
- Kideco Jaya Agung - Indonesia
- Meralco Power Generation, Philippines
- Chamber of Mines of South Africa
- Global Business Power Corporation, Philippines
- Tamil Nadu electricity Board
- Trasteel International SA, Italy
- Banpu Public Company Limited - Thailand
- PTC India Limited - India
- Cement Manufacturers Association - India
- Therma Luzon, Inc, Philippines
- Uttam Galva Steels Limited - India
- Coalindo Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Bayan Resources Tbk. - Indonesia
- Maharashtra Electricity Regulatory Commission - India
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- Sinarmas Energy and Mining - Indonesia
- Meenaskhi Energy Private Limited - India
- Indian Oil Corporation Limited
- Economic Council, Georgia
- Goldman Sachs - Singapore
- Independent Power Producers Association of India
- IEA Clean Coal Centre - UK
- Ministry of Transport, Egypt
- GVK Power & Infra Limited - India
- Parliament of New Zealand
- Australian Coal Association
- Anglo American - United Kingdom
- Mintek Dendrill Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Central Electricity Authority - India
- Miang Besar Coal Terminal - Indonesia
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- Riau Bara Harum - Indonesia
- Globalindo Alam Lestari - Indonesia
- Orica Mining Services - Indonesia
- Merrill Lynch Commodities Europe
- Kapuas Tunggal Persada - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Edison Trading Spa - Italy
- Kaltim Prima Coal - Indonesia
- Kumho Petrochemical, South Korea
- Kartika Selabumi Mining - Indonesia
- Commonwealth Bank - Australia
- AsiaOL BioFuels Corp., Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Vizag Seaport Private Limited - India
- The State Trading Corporation of India Ltd
- Global Coal Blending Company Limited - Australia
- Makarim & Taira - Indonesia
- Thai Mozambique Logistica
- Power Finance Corporation Ltd., India
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- SN Aboitiz Power Inc, Philippines
- Altura Mining Limited, Indonesia
- Minerals Council of Australia
- Baramulti Group, Indonesia
- Oldendorff Carriers - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- PowerSource Philippines DevCo
- Directorate Of Revenue Intelligence - India
- Larsen & Toubro Limited - India
- Alfred C Toepfer International GmbH - Germany
- Gujarat Sidhee Cement - India
- Jaiprakash Power Ventures ltd
- Indian Energy Exchange, India
- Barasentosa Lestari - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Sree Jayajothi Cements Limited - India
- Africa Commodities Group - South Africa
- The University of Queensland
- Holcim Trading Pte Ltd - Singapore
- SMC Global Power, Philippines
- Marubeni Corporation - India
- TeaM Sual Corporation - Philippines
- Mercator Lines Limited - India
- GMR Energy Limited - India
- Dalmia Cement Bharat India
- Mercuria Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- New Zealand Coal & Carbon
- Orica Australia Pty. Ltd.
- Bulk Trading Sa - Switzerland
- Cigading International Bulk Terminal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Pendopo Energi Batubara - Indonesia
- European Bulk Services B.V. - Netherlands
- Parry Sugars Refinery, India
- White Energy Company Limited
- CIMB Investment Bank - Malaysia
- Borneo Indobara - Indonesia
- Lanco Infratech Ltd - India
- Sarangani Energy Corporation, Philippines
- Energy Link Ltd, New Zealand
- Siam City Cement PLC, Thailand
- Thiess Contractors Indonesia
- Renaissance Capital - South Africa
- Wood Mackenzie - Singapore
- Vedanta Resources Plc - India
- Gujarat Electricity Regulatory Commission - India
- SMG Consultants - Indonesia
- McConnell Dowell - Australia
- Interocean Group of Companies - India
- Straits Asia Resources Limited - Singapore
- Standard Chartered Bank - UAE
- Antam Resourcindo - Indonesia
- Kepco SPC Power Corporation, Philippines
- Aditya Birla Group - India
- Bukit Baiduri Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Savvy Resources Ltd - HongKong
- Bukit Asam (Persero) Tbk - Indonesia
- Petron Corporation, Philippines
- Videocon Industries ltd - India
- Indogreen Group - Indonesia
- Ministry of Finance - Indonesia
- Directorate General of MIneral and Coal - Indonesia
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- Dong Bac Coal Mineral Investment Coporation - Vietnam
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- Ambuja Cements Ltd - India
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