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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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Thursday, 18 June 09
INDIKA GETS APPROVAL ON PETROSEA ACQUISITION
PT Indika Energy, the country’s third-biggest miner, said on Wednesday that its shareholders had approved its plan to acquire an 81.95 percent ...
Thursday, 18 June 09
MORE FUNDS FOR COAL VIDESH ASSET BUY
The government plans to let Coal Videsh, a subsidiary of Coal India, have more than Rs 1,000 crore at its disposal to shop for assets abroad.
&ld ...
Wednesday, 17 June 09
MINE EXPLOSION'S DEATH TOLL HITS 30 - (UPDATE 1 )
Search and rescue workers have discovered the bodies of 30 miners who were killed in a coal mine explosion in the West Sumatra regency of Sawahlunto ...
Wednesday, 17 June 09
S.KOREA UTILITIES INK '09 COAL CONTRACTS WITH CHINA
* S.Korea to buy 3 mln tonnes of coal from China at $78.50/T
* Talks between individual power firms and miners ongoing
South Korean utilities ...
Wednesday, 17 June 09
MINE BLAST KILLS NINE, BURIES DOZENS
A major mine explosion near Sawahlunto city, West Sumatra, Tuesday, killed at least nine people while more than 30 were buried and are feared ...
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- Carbofer General Trading SA - India
- Bahari Cakrawala Sebuku - Indonesia
- Energy Development Corp, Philippines
- Petron Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Georgia Ports Authority, United States
- Thiess Contractors Indonesia
- Gujarat Sidhee Cement - India
- Manunggal Multi Energi - Indonesia
- Bayan Resources Tbk. - Indonesia
- Minerals Council of Australia
- Simpson Spence & Young - Indonesia
- Karaikal Port Pvt Ltd - India
- New Zealand Coal & Carbon
- Commonwealth Bank - Australia
- Bhatia International Limited - India
- Formosa Plastics Group - Taiwan
- Siam City Cement PLC, Thailand
- Maharashtra Electricity Regulatory Commission - India
- Vedanta Resources Plc - India
- Gujarat Electricity Regulatory Commission - India
- SMG Consultants - Indonesia
- Sakthi Sugars Limited - India
- Bharathi Cement Corporation - India
- Bhoruka Overseas - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Indonesian Coal Mining Association
- Meenaskhi Energy Private Limited - India
- Riau Bara Harum - Indonesia
- Makarim & Taira - Indonesia
- Orica Mining Services - Indonesia
- Trasteel International SA, Italy
- Jaiprakash Power Ventures ltd
- Madhucon Powers Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Indian Oil Corporation Limited
- Salva Resources Pvt Ltd - India
- Singapore Mercantile Exchange
- Bulk Trading Sa - Switzerland
- Sinarmas Energy and Mining - Indonesia
- McConnell Dowell - Australia
- Larsen & Toubro Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ambuja Cements Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Medco Energi Mining Internasional
- Grasim Industreis Ltd - India
- Sree Jayajothi Cements Limited - India
- The Treasury - Australian Government
- GMR Energy Limited - India
- Central Java Power - Indonesia
- Economic Council, Georgia
- IHS Mccloskey Coal Group - USA
- Banpu Public Company Limited - Thailand
- CNBM International Corporation - China
- Global Business Power Corporation, Philippines
- Bhushan Steel Limited - India
- Global Coal Blending Company Limited - Australia
- Merrill Lynch Commodities Europe
- Coalindo Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sojitz Corporation - Japan
- CIMB Investment Bank - Malaysia
- Thai Mozambique Logistica
- Central Electricity Authority - India
- Kobexindo Tractors - Indoneisa
- Borneo Indobara - Indonesia
- Ministry of Mines - Canada
- Semirara Mining Corp, Philippines
- GVK Power & Infra Limited - India
- Cigading International Bulk Terminal - Indonesia
- Altura Mining Limited, Indonesia
- Energy Link Ltd, New Zealand
- Therma Luzon, Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Iligan Light & Power Inc, Philippines
- Bukit Makmur.PT - Indonesia
- Jindal Steel & Power Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Videocon Industries ltd - India
- Baramulti Group, Indonesia
- Timah Investasi Mineral - Indoneisa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Uttam Galva Steels Limited - India
- Wood Mackenzie - Singapore
- Chettinad Cement Corporation Ltd - India
- Romanian Commodities Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Agrawal Coal Company - India
- GAC Shipping (India) Pvt Ltd
- Toyota Tsusho Corporation, Japan
- Vijayanagar Sugar Pvt Ltd - India
- VISA Power Limited - India
- Electricity Generating Authority of Thailand
- Kartika Selabumi Mining - Indonesia
- Orica Australia Pty. Ltd.
- Essar Steel Hazira Ltd - India
- Lanco Infratech Ltd - India
- Aboitiz Power Corporation - Philippines
- Savvy Resources Ltd - HongKong
- Rashtriya Ispat Nigam Limited - India
- Mintek Dendrill Indonesia
- South Luzon Thermal Energy Corporation
- Posco Energy - South Korea
- Deloitte Consulting - India
- Cement Manufacturers Association - India
- GN Power Mariveles Coal Plant, Philippines
- LBH Netherlands Bv - Netherlands
- Intertek Mineral Services - Indonesia
- Sarangani Energy Corporation, Philippines
- Chamber of Mines of South Africa
- Anglo American - United Kingdom
- San Jose City I Power Corp, Philippines
- Dalmia Cement Bharat India
- Kepco SPC Power Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Aditya Birla Group - India
- Price Waterhouse Coopers - Russia
- Siam City Cement - Thailand
- Kumho Petrochemical, South Korea
- Marubeni Corporation - India
- International Coal Ventures Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Rio Tinto Coal - Australia
- Straits Asia Resources Limited - Singapore
- ASAPP Information Group - India
- TeaM Sual Corporation - Philippines
- Africa Commodities Group - South Africa
- Planning Commission, India
- Attock Cement Pakistan Limited
- Independent Power Producers Association of India
- Latin American Coal - Colombia
- Pipit Mutiara Jaya. PT, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Ministry of Finance - Indonesia
- Meralco Power Generation, Philippines
- Tamil Nadu electricity Board
- India Bulls Power Limited - India
- OPG Power Generation Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Metalloyd Limited - United Kingdom
- Alfred C Toepfer International GmbH - Germany
- Kaltim Prima Coal - Indonesia
- SMC Global Power, Philippines
- Tata Chemicals Ltd - India
- Coastal Gujarat Power Limited - India
- Indogreen Group - Indonesia
- MS Steel International - UAE
- ICICI Bank Limited - India
- Ministry of Transport, Egypt
- White Energy Company Limited
- Australian Coal Association
- Antam Resourcindo - Indonesia
- Parliament of New Zealand
- Xindia Steels Limited - India
- AsiaOL BioFuels Corp., Philippines
- Globalindo Alam Lestari - Indonesia
- Sical Logistics Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Mjunction Services Limited - India
- PowerSource Philippines DevCo
- Mercuria Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Ceylon Electricity Board - Sri Lanka
- Heidelberg Cement - Germany
- Power Finance Corporation Ltd., India
- Jorong Barutama Greston.PT - Indonesia
- London Commodity Brokers - England
- Kapuas Tunggal Persada - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Parry Sugars Refinery, India
- Interocean Group of Companies - India
- Coal and Oil Company - UAE
- Leighton Contractors Pty Ltd - Australia
- Goldman Sachs - Singapore
- Eastern Coal Council - USA
- Ind-Barath Power Infra Limited - India
- Mercator Lines Limited - India
- Malabar Cements Ltd - India
- Bangladesh Power Developement Board
- Star Paper Mills Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- European Bulk Services B.V. - Netherlands
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Pendopo Energi Batubara - Indonesia
- Oldendorff Carriers - Singapore
- Eastern Energy - Thailand
- Maheswari Brothers Coal Limited - India
- Port Waratah Coal Services - Australia
- PTC India Limited - India
- Wilmar Investment Holdings
- Standard Chartered Bank - UAE
- Karbindo Abesyapradhi - Indoneisa
- Kideco Jaya Agung - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Barasentosa Lestari - Indonesia
- SN Aboitiz Power Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- Edison Trading Spa - Italy
- The State Trading Corporation of India Ltd
- Australian Commodity Traders Exchange
- Indo Tambangraya Megah - Indonesia
- Indian Energy Exchange, India
- Indika Energy - Indonesia
- Renaissance Capital - South Africa
- PNOC Exploration Corporation - Philippines
- Electricity Authority, New Zealand
- Vizag Seaport Private Limited - India
- Directorate Of Revenue Intelligence - India
- Sindya Power Generating Company Private Ltd
- The University of Queensland
- IEA Clean Coal Centre - UK
- Samtan Co., Ltd - South Korea
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