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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, 27 July 09
MIDDLE EAST COAL TO MOVE ON $1B EAST KALIMANTAN PROJECT
The Jakarta globe reported that, Middle East Coal reiterated on Monday that it would push ahead its $1 billion development program for East Kutai Re ...
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SHORT AND ONE YEAR PERIOD RATES FOR SUPRAMAX WAS FIRM AT AROUND US$ 18, 000 -18,500 PER DAY
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COKING COAL, IRON-ORE LIKELY TO BENEFIT NON-INTEGRATED STEEL PRODUCERS
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Monday, 27 July 09
GMR ENERGY BUYS EMCO POWERGEN SUBSIDIARY
DNA India reported that, Thane-based transformer manufacturer Emco Ltd has sold its stake in unlisted power generation subsidiary Emco Energy to Ban ...
Sunday, 26 July 09
CESC PLANS 2000 MW POWER PLANT IN BIHAR
Jai Bihar reported that, RPG flagship company CESC Ltd on Friday unveiled its plan to set up a 2,000 MW power generation plant at Pirpainti near Bha ...
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- Asia Pacific Energy Resources Ventures Inc, Philippines
- Aditya Birla Group - India
- Vedanta Resources Plc - India
- SN Aboitiz Power Inc, Philippines
- Posco Energy - South Korea
- Ministry of Finance - Indonesia
- The University of Queensland
- Gujarat Electricity Regulatory Commission - India
- CIMB Investment Bank - Malaysia
- Asmin Koalindo Tuhup - Indonesia
- Orica Mining Services - Indonesia
- Indika Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Oldendorff Carriers - Singapore
- Samtan Co., Ltd - South Korea
- Bangladesh Power Developement Board
- Edison Trading Spa - Italy
- Iligan Light & Power Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- South Luzon Thermal Energy Corporation
- Billiton Holdings Pty Ltd - Australia
- Price Waterhouse Coopers - Russia
- Global Business Power Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Bulk Trading Sa - Switzerland
- Global Green Power PLC Corporation, Philippines
- Minerals Council of Australia
- Uttam Galva Steels Limited - India
- Kumho Petrochemical, South Korea
- Lanco Infratech Ltd - India
- Semirara Mining Corp, Philippines
- Africa Commodities Group - South Africa
- Standard Chartered Bank - UAE
- Semirara Mining and Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Interocean Group of Companies - India
- ASAPP Information Group - India
- Tata Chemicals Ltd - India
- Bukit Makmur.PT - Indonesia
- Makarim & Taira - Indonesia
- Indo Tambangraya Megah - Indonesia
- Planning Commission, India
- European Bulk Services B.V. - Netherlands
- Madhucon Powers Ltd - India
- Gujarat Sidhee Cement - India
- Bahari Cakrawala Sebuku - Indonesia
- Thai Mozambique Logistica
- Rio Tinto Coal - Australia
- Metalloyd Limited - United Kingdom
- Sindya Power Generating Company Private Ltd
- Australian Commodity Traders Exchange
- Meralco Power Generation, Philippines
- Eastern Energy - Thailand
- Coal and Oil Company - UAE
- Kapuas Tunggal Persada - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Latin American Coal - Colombia
- Formosa Plastics Group - Taiwan
- GVK Power & Infra Limited - India
- Toyota Tsusho Corporation, Japan
- ICICI Bank Limited - India
- Savvy Resources Ltd - HongKong
- Banpu Public Company Limited - Thailand
- Bhatia International Limited - India
- Thiess Contractors Indonesia
- SMC Global Power, Philippines
- London Commodity Brokers - England
- Bharathi Cement Corporation - India
- New Zealand Coal & Carbon
- Cigading International Bulk Terminal - Indonesia
- Essar Steel Hazira Ltd - India
- Dalmia Cement Bharat India
- Sinarmas Energy and Mining - Indonesia
- Commonwealth Bank - Australia
- Singapore Mercantile Exchange
- Intertek Mineral Services - Indonesia
- Tamil Nadu electricity Board
- Offshore Bulk Terminal Pte Ltd, Singapore
- Manunggal Multi Energi - Indonesia
- Star Paper Mills Limited - India
- PNOC Exploration Corporation - Philippines
- Maheswari Brothers Coal Limited - India
- Heidelberg Cement - Germany
- Petron Corporation, Philippines
- Eastern Coal Council - USA
- Antam Resourcindo - Indonesia
- GMR Energy Limited - India
- International Coal Ventures Pvt Ltd - India
- Anglo American - United Kingdom
- Indonesian Coal Mining Association
- Bank of Tokyo Mitsubishi UFJ Ltd
- Georgia Ports Authority, United States
- Deloitte Consulting - India
- Port Waratah Coal Services - Australia
- McConnell Dowell - Australia
- Kideco Jaya Agung - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Riau Bara Harum - Indonesia
- IEA Clean Coal Centre - UK
- Krishnapatnam Port Company Ltd. - India
- TeaM Sual Corporation - Philippines
- Jaiprakash Power Ventures ltd
- Karbindo Abesyapradhi - Indoneisa
- Neyveli Lignite Corporation Ltd, - India
- Energy Development Corp, Philippines
- Central Electricity Authority - India
- Goldman Sachs - Singapore
- Kaltim Prima Coal - Indonesia
- Chamber of Mines of South Africa
- Ministry of Mines - Canada
- Vijayanagar Sugar Pvt Ltd - India
- Coalindo Energy - Indonesia
- Mercator Lines Limited - India
- Ministry of Transport, Egypt
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PowerSource Philippines DevCo
- Parliament of New Zealand
- Directorate General of MIneral and Coal - Indonesia
- Sree Jayajothi Cements Limited - India
- Straits Asia Resources Limited - Singapore
- Carbofer General Trading SA - India
- The State Trading Corporation of India Ltd
- Australian Coal Association
- Pendopo Energi Batubara - Indonesia
- Bhoruka Overseas - Indonesia
- India Bulls Power Limited - India
- Coastal Gujarat Power Limited - India
- Simpson Spence & Young - Indonesia
- Medco Energi Mining Internasional
- Bukit Asam (Persero) Tbk - Indonesia
- Mjunction Services Limited - India
- Siam City Cement PLC, Thailand
- Economic Council, Georgia
- Vizag Seaport Private Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- White Energy Company Limited
- Gujarat Mineral Development Corp Ltd - India
- Salva Resources Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Grasim Industreis Ltd - India
- OPG Power Generation Pvt Ltd - India
- Indogreen Group - Indonesia
- Energy Link Ltd, New Zealand
- Bayan Resources Tbk. - Indonesia
- Agrawal Coal Company - India
- IHS Mccloskey Coal Group - USA
- TNB Fuel Sdn Bhd - Malaysia
- Sical Logistics Limited - India
- Therma Luzon, Inc, Philippines
- Attock Cement Pakistan Limited
- Miang Besar Coal Terminal - Indonesia
- Directorate Of Revenue Intelligence - India
- Ind-Barath Power Infra Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Globalindo Alam Lestari - Indonesia
- Electricity Generating Authority of Thailand
- Malabar Cements Ltd - India
- Renaissance Capital - South Africa
- Cement Manufacturers Association - India
- Kalimantan Lumbung Energi - Indonesia
- Altura Mining Limited, Indonesia
- Jorong Barutama Greston.PT - Indonesia
- CNBM International Corporation - China
- Videocon Industries ltd - India
- Sojitz Corporation - Japan
- VISA Power Limited - India
- Trasteel International SA, Italy
- Leighton Contractors Pty Ltd - Australia
- Romanian Commodities Exchange
- Electricity Authority, New Zealand
- Binh Thuan Hamico - Vietnam
- The Treasury - Australian Government
- Sakthi Sugars Limited - India
- Independent Power Producers Association of India
- Indian Oil Corporation Limited
- Ambuja Cements Ltd - India
- Kepco SPC Power Corporation, Philippines
- MS Steel International - UAE
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Xindia Steels Limited - India
- Larsen & Toubro Limited - India
- Rashtriya Ispat Nigam Limited - India
- GN Power Mariveles Coal Plant, Philippines
- LBH Netherlands Bv - Netherlands
- Karaikal Port Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Central Java Power - Indonesia
- Merrill Lynch Commodities Europe
- Mintek Dendrill Indonesia
- Wilmar Investment Holdings
- Kartika Selabumi Mining - Indonesia
- Global Coal Blending Company Limited - Australia
- Chettinad Cement Corporation Ltd - India
- Marubeni Corporation - India
- Mercuria Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Borneo Indobara - Indonesia
- Parry Sugars Refinery, India
- SMG Consultants - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Barasentosa Lestari - Indonesia
- Siam City Cement - Thailand
- Timah Investasi Mineral - Indoneisa
- Kobexindo Tractors - Indoneisa
- Bhushan Steel Limited - India
- Sarangani Energy Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Baramulti Group, Indonesia
- Wood Mackenzie - Singapore
- Holcim Trading Pte Ltd - Singapore
- Orica Australia Pty. Ltd.
- Bukit Baiduri Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indian Energy Exchange, India
- PTC India Limited - India
- Kohat Cement Company Ltd. - Pakistan
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