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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, 10 August 09
POLICY HURDLES DELAY NALCO'S U$$ 4.166 BILLION OVERSEAS PROJECTS
National Aluminium Company Ltd's (NALCO) greenfield projects in overseas markets like Indonesia and Iran are in limbo because of political
...
Monday, 10 August 09
SAIL, TATA STEEL TO REDUCE COAL IMPORTS BY PARADIP PORT
World Shipping News reported that, Steel Authority of India Ltd (SAIL) and Tata Steel have scaled down coal imports through Paradip Port, hit by pre ...
Monday, 10 August 09
NTPC LIKELY TO SET UP POWER PLANTS IN NIGERIA AND SRILANKA
Economic time reported that, National Thermal Power Corporation Limited (NTPC), country's largest power utility, is likely to set up power plants i ...
Monday, 10 August 09
VINACOMIN TO SELL COAL AT MARKET PRICES TO DOMESTIC USERS
VNBusinessNews.com - Reuters reported that Vietnamese government has agreed to let coal monopoly Vinacomin sell coal at market oriented prices to do ...
Sunday, 09 August 09
TNEB ENNORE PORT CALLS TO TRIPLE COAL OUTPUT
World Shipping News reported that, the Tamil Nadu Electricity Board (TNEB) has asked Ennore Port Ltd (EPL) to increase the port’s installed ca ...
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- Australian Commodity Traders Exchange
- Karaikal Port Pvt Ltd - India
- Mercuria Energy - Indonesia
- Vedanta Resources Plc - India
- Sakthi Sugars Limited - India
- Sindya Power Generating Company Private Ltd
- Sree Jayajothi Cements Limited - India
- Singapore Mercantile Exchange
- Sojitz Corporation - Japan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indian Oil Corporation Limited
- New Zealand Coal & Carbon
- Bhushan Steel Limited - India
- Bayan Resources Tbk. - Indonesia
- Latin American Coal - Colombia
- Makarim & Taira - Indonesia
- Global Business Power Corporation, Philippines
- Power Finance Corporation Ltd., India
- Thiess Contractors Indonesia
- Chettinad Cement Corporation Ltd - India
- GVK Power & Infra Limited - India
- Price Waterhouse Coopers - Russia
- Gujarat Mineral Development Corp Ltd - India
- PowerSource Philippines DevCo
- Petrochimia International Co. Ltd.- Taiwan
- The University of Queensland
- Central Java Power - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Indian Energy Exchange, India
- Central Electricity Authority - India
- Orica Australia Pty. Ltd.
- Star Paper Mills Limited - India
- Cigading International Bulk Terminal - Indonesia
- Marubeni Corporation - India
- Vizag Seaport Private Limited - India
- Alfred C Toepfer International GmbH - Germany
- Kepco SPC Power Corporation, Philippines
- Deloitte Consulting - India
- Timah Investasi Mineral - Indoneisa
- Siam City Cement PLC, Thailand
- Aditya Birla Group - India
- Barasentosa Lestari - Indonesia
- Pendopo Energi Batubara - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- IEA Clean Coal Centre - UK
- Toyota Tsusho Corporation, Japan
- IHS Mccloskey Coal Group - USA
- Leighton Contractors Pty Ltd - Australia
- Eastern Coal Council - USA
- Straits Asia Resources Limited - Singapore
- Eastern Energy - Thailand
- Electricity Generating Authority of Thailand
- Kalimantan Lumbung Energi - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Kaltim Prima Coal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- GAC Shipping (India) Pvt Ltd
- Oldendorff Carriers - Singapore
- Baramulti Group, Indonesia
- Indika Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Mjunction Services Limited - India
- Medco Energi Mining Internasional
- Madhucon Powers Ltd - India
- Savvy Resources Ltd - HongKong
- Bahari Cakrawala Sebuku - Indonesia
- Parliament of New Zealand
- Bangladesh Power Developement Board
- AsiaOL BioFuels Corp., Philippines
- Indogreen Group - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Posco Energy - South Korea
- Offshore Bulk Terminal Pte Ltd, Singapore
- Energy Development Corp, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Bhoruka Overseas - Indonesia
- Uttam Galva Steels Limited - India
- Binh Thuan Hamico - Vietnam
- Renaissance Capital - South Africa
- Agrawal Coal Company - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Africa Commodities Group - South Africa
- Larsen & Toubro Limited - India
- Siam City Cement - Thailand
- Simpson Spence & Young - Indonesia
- Semirara Mining Corp, Philippines
- Rashtriya Ispat Nigam Limited - India
- Global Green Power PLC Corporation, Philippines
- Planning Commission, India
- Bharathi Cement Corporation - India
- Indo Tambangraya Megah - Indonesia
- Orica Mining Services - Indonesia
- Sarangani Energy Corporation, Philippines
- Cement Manufacturers Association - India
- SMG Consultants - Indonesia
- Iligan Light & Power Inc, Philippines
- Coal and Oil Company - UAE
- Ministry of Transport, Egypt
- Gujarat Electricity Regulatory Commission - India
- Parry Sugars Refinery, India
- LBH Netherlands Bv - Netherlands
- PNOC Exploration Corporation - Philippines
- India Bulls Power Limited - India
- Australian Coal Association
- Maheswari Brothers Coal Limited - India
- Coastal Gujarat Power Limited - India
- Manunggal Multi Energi - Indonesia
- Lanco Infratech Ltd - India
- Formosa Plastics Group - Taiwan
- Directorate Of Revenue Intelligence - India
- Sical Logistics Limited - India
- Edison Trading Spa - Italy
- Kideco Jaya Agung - Indonesia
- Georgia Ports Authority, United States
- Sinarmas Energy and Mining - Indonesia
- SMC Global Power, Philippines
- White Energy Company Limited
- Kapuas Tunggal Persada - Indonesia
- Romanian Commodities Exchange
- Salva Resources Pvt Ltd - India
- Ministry of Mines - Canada
- Attock Cement Pakistan Limited
- Gujarat Sidhee Cement - India
- San Jose City I Power Corp, Philippines
- Energy Link Ltd, New Zealand
- Kumho Petrochemical, South Korea
- Mercator Lines Limited - India
- Interocean Group of Companies - India
- Commonwealth Bank - Australia
- Independent Power Producers Association of India
- OPG Power Generation Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- CIMB Investment Bank - Malaysia
- Metalloyd Limited - United Kingdom
- London Commodity Brokers - England
- Grasim Industreis Ltd - India
- Altura Mining Limited, Indonesia
- Banpu Public Company Limited - Thailand
- International Coal Ventures Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Intertek Mineral Services - Indonesia
- Thai Mozambique Logistica
- Goldman Sachs - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Kobexindo Tractors - Indoneisa
- Meralco Power Generation, Philippines
- Indonesian Coal Mining Association
- TNB Fuel Sdn Bhd - Malaysia
- Therma Luzon, Inc, Philippines
- PTC India Limited - India
- Chamber of Mines of South Africa
- ICICI Bank Limited - India
- South Luzon Thermal Energy Corporation
- Jaiprakash Power Ventures ltd
- The State Trading Corporation of India Ltd
- Petron Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Wood Mackenzie - Singapore
- Tamil Nadu electricity Board
- Rio Tinto Coal - Australia
- Ambuja Cements Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Holcim Trading Pte Ltd - Singapore
- Krishnapatnam Port Company Ltd. - India
- Global Coal Blending Company Limited - Australia
- Borneo Indobara - Indonesia
- Bukit Baiduri Energy - Indonesia
- MS Steel International - UAE
- CNBM International Corporation - China
- Ceylon Electricity Board - Sri Lanka
- Jorong Barutama Greston.PT - Indonesia
- Dalmia Cement Bharat India
- European Bulk Services B.V. - Netherlands
- Samtan Co., Ltd - South Korea
- VISA Power Limited - India
- Anglo American - United Kingdom
- Ind-Barath Power Infra Limited - India
- Carbofer General Trading SA - India
- Bulk Trading Sa - Switzerland
- Malabar Cements Ltd - India
- Minerals Council of Australia
- Meenaskhi Energy Private Limited - India
- Electricity Authority, New Zealand
- Heidelberg Cement - Germany
- Standard Chartered Bank - UAE
- Antam Resourcindo - Indonesia
- TeaM Sual Corporation - Philippines
- Coalindo Energy - Indonesia
- Ministry of Finance - Indonesia
- Xindia Steels Limited - India
- Trasteel International SA, Italy
- McConnell Dowell - Australia
- Billiton Holdings Pty Ltd - Australia
- Essar Steel Hazira Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- ASAPP Information Group - India
- Aboitiz Power Corporation - Philippines
- Port Waratah Coal Services - Australia
- The Treasury - Australian Government
- Tata Chemicals Ltd - India
- Bhatia International Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Economic Council, Georgia
- Wilmar Investment Holdings
- Bukit Makmur.PT - Indonesia
- Videocon Industries ltd - India
- Riau Bara Harum - Indonesia
- Mintek Dendrill Indonesia
- GMR Energy Limited - India
- Jindal Steel & Power Ltd - India
- Globalindo Alam Lestari - Indonesia
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