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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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Wednesday, 01 July 09
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- Energy Development Corp, Philippines
- Savvy Resources Ltd - HongKong
- Intertek Mineral Services - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- SN Aboitiz Power Inc, Philippines
- Edison Trading Spa - Italy
- Petrochimia International Co. Ltd.- Taiwan
- Eastern Energy - Thailand
- Oldendorff Carriers - Singapore
- Global Green Power PLC Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- McConnell Dowell - Australia
- Thai Mozambique Logistica
- Eastern Coal Council - USA
- ICICI Bank Limited - India
- Dalmia Cement Bharat India
- Coalindo Energy - Indonesia
- Energy Link Ltd, New Zealand
- Port Waratah Coal Services - Australia
- MS Steel International - UAE
- Bukit Makmur.PT - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Meralco Power Generation, Philippines
- Marubeni Corporation - India
- Planning Commission, India
- London Commodity Brokers - England
- Australian Coal Association
- Rashtriya Ispat Nigam Limited - India
- Indian Energy Exchange, India
- Ceylon Electricity Board - Sri Lanka
- Formosa Plastics Group - Taiwan
- Interocean Group of Companies - India
- Indogreen Group - Indonesia
- Toyota Tsusho Corporation, Japan
- Metalloyd Limited - United Kingdom
- PetroVietnam Power Coal Import and Supply Company
- San Jose City I Power Corp, Philippines
- Indonesian Coal Mining Association
- The University of Queensland
- Bangladesh Power Developement Board
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Latin American Coal - Colombia
- Cigading International Bulk Terminal - Indonesia
- Renaissance Capital - South Africa
- Tamil Nadu electricity Board
- Power Finance Corporation Ltd., India
- Aboitiz Power Corporation - Philippines
- Bulk Trading Sa - Switzerland
- Coal and Oil Company - UAE
- Ministry of Mines - Canada
- Holcim Trading Pte Ltd - Singapore
- Mintek Dendrill Indonesia
- Coastal Gujarat Power Limited - India
- Uttam Galva Steels Limited - India
- Price Waterhouse Coopers - Russia
- Medco Energi Mining Internasional
- Electricity Authority, New Zealand
- Bayan Resources Tbk. - Indonesia
- Attock Cement Pakistan Limited
- GN Power Mariveles Coal Plant, Philippines
- Simpson Spence & Young - Indonesia
- Xindia Steels Limited - India
- Baramulti Group, Indonesia
- The Treasury - Australian Government
- Thiess Contractors Indonesia
- Jindal Steel & Power Ltd - India
- Kobexindo Tractors - Indoneisa
- Borneo Indobara - Indonesia
- ASAPP Information Group - India
- Mercator Lines Limited - India
- Mjunction Services Limited - India
- Ambuja Cements Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Chettinad Cement Corporation Ltd - India
- LBH Netherlands Bv - Netherlands
- Bhoruka Overseas - Indonesia
- Standard Chartered Bank - UAE
- Carbofer General Trading SA - India
- India Bulls Power Limited - India
- Sojitz Corporation - Japan
- Jaiprakash Power Ventures ltd
- OPG Power Generation Pvt Ltd - India
- Gujarat Sidhee Cement - India
- TeaM Sual Corporation - Philippines
- Ministry of Transport, Egypt
- Singapore Mercantile Exchange
- Maharashtra Electricity Regulatory Commission - India
- Parliament of New Zealand
- SMC Global Power, Philippines
- Banpu Public Company Limited - Thailand
- AsiaOL BioFuels Corp., Philippines
- Independent Power Producers Association of India
- Meenaskhi Energy Private Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Ind-Barath Power Infra Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Indika Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- New Zealand Coal & Carbon
- The State Trading Corporation of India Ltd
- Parry Sugars Refinery, India
- Semirara Mining Corp, Philippines
- Manunggal Multi Energi - Indonesia
- Posco Energy - South Korea
- Bukit Asam (Persero) Tbk - Indonesia
- IEA Clean Coal Centre - UK
- Grasim Industreis Ltd - India
- Siam City Cement PLC, Thailand
- South Luzon Thermal Energy Corporation
- Miang Besar Coal Terminal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Binh Thuan Hamico - Vietnam
- Gujarat Electricity Regulatory Commission - India
- Bukit Baiduri Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Alfred C Toepfer International GmbH - Germany
- GVK Power & Infra Limited - India
- Star Paper Mills Limited - India
- Orica Mining Services - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Trasteel International SA, Italy
- Commonwealth Bank - Australia
- Chamber of Mines of South Africa
- Kepco SPC Power Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Goldman Sachs - Singapore
- Leighton Contractors Pty Ltd - Australia
- Ministry of Finance - Indonesia
- Africa Commodities Group - South Africa
- Rio Tinto Coal - Australia
- Malabar Cements Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Siam City Cement - Thailand
- CNBM International Corporation - China
- Agrawal Coal Company - India
- Riau Bara Harum - Indonesia
- Bhushan Steel Limited - India
- Australian Commodity Traders Exchange
- Sree Jayajothi Cements Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Larsen & Toubro Limited - India
- Videocon Industries ltd - India
- Indian Oil Corporation Limited
- Makarim & Taira - Indonesia
- Karaikal Port Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Central Electricity Authority - India
- Semirara Mining and Power Corporation, Philippines
- Barasentosa Lestari - Indonesia
- International Coal Ventures Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Georgia Ports Authority, United States
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Vizag Seaport Private Limited - India
- VISA Power Limited - India
- Directorate Of Revenue Intelligence - India
- Sarangani Energy Corporation, Philippines
- Romanian Commodities Exchange
- Mercuria Energy - Indonesia
- Deloitte Consulting - India
- Billiton Holdings Pty Ltd - Australia
- Pendopo Energi Batubara - Indonesia
- Kideco Jaya Agung - Indonesia
- Globalindo Alam Lestari - Indonesia
- Orica Australia Pty. Ltd.
- Gujarat Mineral Development Corp Ltd - India
- Kaltim Prima Coal - Indonesia
- Salva Resources Pvt Ltd - India
- Minerals Council of Australia
- Kapuas Tunggal Persada - Indonesia
- White Energy Company Limited
- Aditya Birla Group - India
- Petron Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Sical Logistics Limited - India
- SMG Consultants - Indonesia
- Global Business Power Corporation, Philippines
- Heidelberg Cement - Germany
- Kartika Selabumi Mining - Indonesia
- Straits Asia Resources Limited - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Vedanta Resources Plc - India
- Madhucon Powers Ltd - India
- Kumho Petrochemical, South Korea
- Bharathi Cement Corporation - India
- Anglo American - United Kingdom
- Timah Investasi Mineral - Indoneisa
- Electricity Generating Authority of Thailand
- Sakthi Sugars Limited - India
- PTC India Limited - India
- Tata Chemicals Ltd - India
- Altura Mining Limited, Indonesia
- Economic Council, Georgia
- Vijayanagar Sugar Pvt Ltd - India
- Central Java Power - Indonesia
- Therma Luzon, Inc, Philippines
- Essar Steel Hazira Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Iligan Light & Power Inc, Philippines
- Maheswari Brothers Coal Limited - India
- Wilmar Investment Holdings
- PowerSource Philippines DevCo
- Antam Resourcindo - Indonesia
- Indo Tambangraya Megah - Indonesia
- Wood Mackenzie - Singapore
- Merrill Lynch Commodities Europe
- Cement Manufacturers Association - India
- GMR Energy Limited - India
- CIMB Investment Bank - Malaysia
- Karbindo Abesyapradhi - Indoneisa
- Bhatia International Limited - India
- IHS Mccloskey Coal Group - USA
- Sindya Power Generating Company Private Ltd
- GAC Shipping (India) Pvt Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Lanco Infratech Ltd - India
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