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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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Tuesday, 30 June 09
ARCELORMITTAL, RIO, 8 OTHERS VIE FOR COAL INDIA MINES
Coal India Ltd. short-listed ArcelorMittal, Rio Tinto Group and eight other companies to develop its abandoned mines to help ease a shortage of coal ...
Monday, 29 June 09
INDONESIA PLANS 20 PCT FOREIGN MINING SALE LAW
Indonesia plans to require foreign investors in mining firms to gradually divest shares starting from the fifth year of commercial production, but m ...
Monday, 29 June 09
CHINA ENJOYS STABLE COAL ECONOMY IN THE FIRST FIVE MONTHS OF 2009
In the first five months of the year, China's raw coal production had continued to rise, and coal market stayed in a balance in terms of supply-dem ...
Monday, 29 June 09
GOVERNMENT FINE TUNES MINING LAW
The government is planning to require all foreign-owned mining companies to divest 20 percent of their businesses to local entities after five years ...
Sunday, 28 June 09
INDIA CEMENTS TO INVEST RS 1,500 CR OVER 2 YEARS
Chennai-based India Cements is planning to invest around Rs 1,500 crore over the next two years for setting up a greenfield project in Rajasthan, po ...
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- Coal and Oil Company - UAE
- New Zealand Coal & Carbon
- Indian Energy Exchange, India
- Ambuja Cements Ltd - India
- Mintek Dendrill Indonesia
- Intertek Mineral Services - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Lanco Infratech Ltd - India
- Timah Investasi Mineral - Indoneisa
- Independent Power Producers Association of India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Xindia Steels Limited - India
- IEA Clean Coal Centre - UK
- GMR Energy Limited - India
- Malabar Cements Ltd - India
- Directorate Of Revenue Intelligence - India
- Oldendorff Carriers - Singapore
- Star Paper Mills Limited - India
- PNOC Exploration Corporation - Philippines
- Jorong Barutama Greston.PT - Indonesia
- Eastern Coal Council - USA
- Jindal Steel & Power Ltd - India
- Port Waratah Coal Services - Australia
- Altura Mining Limited, Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Eastern Energy - Thailand
- Kideco Jaya Agung - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Minerals Council of Australia
- Ceylon Electricity Board - Sri Lanka
- Kepco SPC Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- Singapore Mercantile Exchange
- Leighton Contractors Pty Ltd - Australia
- Rashtriya Ispat Nigam Limited - India
- McConnell Dowell - Australia
- Planning Commission, India
- Chettinad Cement Corporation Ltd - India
- SN Aboitiz Power Inc, Philippines
- Heidelberg Cement - Germany
- Banpu Public Company Limited - Thailand
- Semirara Mining Corp, Philippines
- Thai Mozambique Logistica
- Meenaskhi Energy Private Limited - India
- PTC India Limited - India
- Maheswari Brothers Coal Limited - India
- Bulk Trading Sa - Switzerland
- Globalindo Alam Lestari - Indonesia
- Tata Chemicals Ltd - India
- Bukit Baiduri Energy - Indonesia
- PowerSource Philippines DevCo
- Krishnapatnam Port Company Ltd. - India
- Australian Commodity Traders Exchange
- Wood Mackenzie - Singapore
- Power Finance Corporation Ltd., India
- Posco Energy - South Korea
- Baramulti Group, Indonesia
- Sarangani Energy Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Neyveli Lignite Corporation Ltd, - India
- Grasim Industreis Ltd - India
- Karaikal Port Pvt Ltd - India
- Ministry of Finance - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Videocon Industries ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Iligan Light & Power Inc, Philippines
- Petron Corporation, Philippines
- Antam Resourcindo - Indonesia
- Cement Manufacturers Association - India
- Sical Logistics Limited - India
- South Luzon Thermal Energy Corporation
- Price Waterhouse Coopers - Russia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Edison Trading Spa - Italy
- Medco Energi Mining Internasional
- Coalindo Energy - Indonesia
- Carbofer General Trading SA - India
- GVK Power & Infra Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bangladesh Power Developement Board
- Alfred C Toepfer International GmbH - Germany
- Australian Coal Association
- Formosa Plastics Group - Taiwan
- Mercuria Energy - Indonesia
- Electricity Authority, New Zealand
- Kapuas Tunggal Persada - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Billiton Holdings Pty Ltd - Australia
- The University of Queensland
- Energy Development Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Merrill Lynch Commodities Europe
- Aditya Birla Group - India
- Sindya Power Generating Company Private Ltd
- Asmin Koalindo Tuhup - Indonesia
- Renaissance Capital - South Africa
- Bhushan Steel Limited - India
- Rio Tinto Coal - Australia
- ICICI Bank Limited - India
- Pendopo Energi Batubara - Indonesia
- European Bulk Services B.V. - Netherlands
- Mercator Lines Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Tamil Nadu electricity Board
- Central Electricity Authority - India
- Global Business Power Corporation, Philippines
- Goldman Sachs - Singapore
- AsiaOL BioFuels Corp., Philippines
- Gujarat Electricity Regulatory Commission - India
- PetroVietnam Power Coal Import and Supply Company
- Simpson Spence & Young - Indonesia
- Manunggal Multi Energi - Indonesia
- Vedanta Resources Plc - India
- Salva Resources Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Bharathi Cement Corporation - India
- White Energy Company Limited
- Global Coal Blending Company Limited - Australia
- CIMB Investment Bank - Malaysia
- Aboitiz Power Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Romanian Commodities Exchange
- Bhoruka Overseas - Indonesia
- Africa Commodities Group - South Africa
- The State Trading Corporation of India Ltd
- GAC Shipping (India) Pvt Ltd
- Cigading International Bulk Terminal - Indonesia
- Sakthi Sugars Limited - India
- Wilmar Investment Holdings
- Deloitte Consulting - India
- Kalimantan Lumbung Energi - Indonesia
- Borneo Indobara - Indonesia
- Marubeni Corporation - India
- Orica Australia Pty. Ltd.
- Indian Oil Corporation Limited
- SMG Consultants - Indonesia
- IHS Mccloskey Coal Group - USA
- TeaM Sual Corporation - Philippines
- Parry Sugars Refinery, India
- Economic Council, Georgia
- Holcim Trading Pte Ltd - Singapore
- LBH Netherlands Bv - Netherlands
- Savvy Resources Ltd - HongKong
- Siam City Cement PLC, Thailand
- Attock Cement Pakistan Limited
- London Commodity Brokers - England
- Meralco Power Generation, Philippines
- Orica Mining Services - Indonesia
- Energy Link Ltd, New Zealand
- Makarim & Taira - Indonesia
- CNBM International Corporation - China
- VISA Power Limited - India
- Parliament of New Zealand
- India Bulls Power Limited - India
- Interocean Group of Companies - India
- Kumho Petrochemical, South Korea
- Gujarat Mineral Development Corp Ltd - India
- Straits Asia Resources Limited - Singapore
- GN Power Mariveles Coal Plant, Philippines
- The Treasury - Australian Government
- Larsen & Toubro Limited - India
- Ministry of Mines - Canada
- Agrawal Coal Company - India
- Sojitz Corporation - Japan
- Essar Steel Hazira Ltd - India
- Uttam Galva Steels Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indo Tambangraya Megah - Indonesia
- Mjunction Services Limited - India
- Indogreen Group - Indonesia
- Sree Jayajothi Cements Limited - India
- Bukit Makmur.PT - Indonesia
- Bhatia International Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Therma Luzon, Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Kaltim Prima Coal - Indonesia
- Vizag Seaport Private Limited - India
- Samtan Co., Ltd - South Korea
- Trasteel International SA, Italy
- Standard Chartered Bank - UAE
- MS Steel International - UAE
- Maharashtra Electricity Regulatory Commission - India
- Metalloyd Limited - United Kingdom
- Indonesian Coal Mining Association
- Madhucon Powers Ltd - India
- Georgia Ports Authority, United States
- Global Green Power PLC Corporation, Philippines
- Chamber of Mines of South Africa
- Jaiprakash Power Ventures ltd
- San Jose City I Power Corp, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Coastal Gujarat Power Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Central Java Power - Indonesia
- Latin American Coal - Colombia
- Ind-Barath Power Infra Limited - India
- SMC Global Power, Philippines
- Electricity Generating Authority of Thailand
- Miang Besar Coal Terminal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Thiess Contractors Indonesia
- Dalmia Cement Bharat India
- Commonwealth Bank - Australia
- Gujarat Sidhee Cement - India
- Siam City Cement - Thailand
- Anglo American - United Kingdom
- Barasentosa Lestari - Indonesia
- ASAPP Information Group - India
- Ministry of Transport, Egypt
- Indika Energy - Indonesia
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