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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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Sunday, 26 April 09
INDONESIAN GOVT SAYS COAL MINES CAUSE WEEKLONG FLOOD - THE JAKARTA POST
Samarinda administration in East Kalimantan admitted openly Thursday that the weeklong flood that paralyzed the city was caused by unruly management ...
Saturday, 25 April 09
FOREIGN SHARE DIVESTMENT STARTING THE 6TH YEAR OF PRODUCTION - MAJALAH TAMBANG
The government would set a divestment scheme for foreign miners, which would require companies to divest their ownership starting the 6th year of pr ...
Saturday, 25 April 09
INDO TAMBANGRAYA MEGAH ALLOCATED USD 126 MILLION FOR CAPITAL SPENDING - MAJALAH TAMBANG
Somyot Ruchirawat, President Director of PT Indo Tambangraya Megah, Tbk (ITMG), has announced the company's total dividend payment of Rp 1,345 per ...
Saturday, 25 April 09
MINING SECTOR IS STILL ON THE SURPLUS - THE JAKARTA POST
The global financial crisis is apparently also having an impact on the mining sector. People are thinking twice about investing in the mining sector ...
Saturday, 25 April 09
ADARO RUNS CATARACT OPERATION PROGRAM - THE JAKARTA POST
As part of its CSR program, thermal coal producer PT Adaro Indonesia has made cataract operations available to residents of Tandjung district, South ...
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- Dalmia Cement Bharat India
- Xindia Steels Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Directorate Of Revenue Intelligence - India
- Ambuja Cements Ltd - India
- GVK Power & Infra Limited - India
- Planning Commission, India
- Essar Steel Hazira Ltd - India
- Eastern Energy - Thailand
- Tata Chemicals Ltd - India
- Meenaskhi Energy Private Limited - India
- Agrawal Coal Company - India
- Videocon Industries ltd - India
- CNBM International Corporation - China
- Indo Tambangraya Megah - Indonesia
- Standard Chartered Bank - UAE
- Ceylon Electricity Board - Sri Lanka
- Riau Bara Harum - Indonesia
- Sindya Power Generating Company Private Ltd
- New Zealand Coal & Carbon
- Metalloyd Limited - United Kingdom
- Bank of Tokyo Mitsubishi UFJ Ltd
- ICICI Bank Limited - India
- Mercuria Energy - Indonesia
- Bhatia International Limited - India
- Simpson Spence & Young - Indonesia
- PTC India Limited - India
- Kobexindo Tractors - Indoneisa
- Gujarat Mineral Development Corp Ltd - India
- Globalindo Alam Lestari - Indonesia
- Chamber of Mines of South Africa
- Kaltim Prima Coal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Borneo Indobara - Indonesia
- Binh Thuan Hamico - Vietnam
- Madhucon Powers Ltd - India
- The Treasury - Australian Government
- Central Java Power - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- San Jose City I Power Corp, Philippines
- Eastern Coal Council - USA
- Central Electricity Authority - India
- Australian Coal Association
- Thai Mozambique Logistica
- Sojitz Corporation - Japan
- India Bulls Power Limited - India
- OPG Power Generation Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Toyota Tsusho Corporation, Japan
- Kideco Jaya Agung - Indonesia
- Romanian Commodities Exchange
- Marubeni Corporation - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ministry of Finance - Indonesia
- Mintek Dendrill Indonesia
- Vedanta Resources Plc - India
- Karbindo Abesyapradhi - Indoneisa
- Maheswari Brothers Coal Limited - India
- Global Coal Blending Company Limited - Australia
- Billiton Holdings Pty Ltd - Australia
- Siam City Cement - Thailand
- IEA Clean Coal Centre - UK
- Wilmar Investment Holdings
- Formosa Plastics Group - Taiwan
- Savvy Resources Ltd - HongKong
- The State Trading Corporation of India Ltd
- Sarangani Energy Corporation, Philippines
- SMG Consultants - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- PNOC Exploration Corporation - Philippines
- Bhushan Steel Limited - India
- Grasim Industreis Ltd - India
- Bangladesh Power Developement Board
- Sakthi Sugars Limited - India
- Banpu Public Company Limited - Thailand
- Attock Cement Pakistan Limited
- Aditya Birla Group - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Commonwealth Bank - Australia
- Kohat Cement Company Ltd. - Pakistan
- TeaM Sual Corporation - Philippines
- PowerSource Philippines DevCo
- Parliament of New Zealand
- Gujarat Electricity Regulatory Commission - India
- Bayan Resources Tbk. - Indonesia
- Minerals Council of Australia
- International Coal Ventures Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Straits Asia Resources Limited - Singapore
- Parry Sugars Refinery, India
- Chettinad Cement Corporation Ltd - India
- Coal and Oil Company - UAE
- Holcim Trading Pte Ltd - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Jaiprakash Power Ventures ltd
- Oldendorff Carriers - Singapore
- GMR Energy Limited - India
- Africa Commodities Group - South Africa
- Pipit Mutiara Jaya. PT, Indonesia
- GAC Shipping (India) Pvt Ltd
- IHS Mccloskey Coal Group - USA
- Indian Energy Exchange, India
- Rio Tinto Coal - Australia
- Timah Investasi Mineral - Indoneisa
- Kumho Petrochemical, South Korea
- Bukit Asam (Persero) Tbk - Indonesia
- Economic Council, Georgia
- Tamil Nadu electricity Board
- Bukit Baiduri Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Ministry of Mines - Canada
- Thiess Contractors Indonesia
- Electricity Generating Authority of Thailand
- Karaikal Port Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Medco Energi Mining Internasional
- Carbofer General Trading SA - India
- Petron Corporation, Philippines
- Mercator Lines Limited - India
- Malabar Cements Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Global Green Power PLC Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Larsen & Toubro Limited - India
- Posco Energy - South Korea
- Aboitiz Power Corporation - Philippines
- VISA Power Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Samtan Co., Ltd - South Korea
- Semirara Mining Corp, Philippines
- Independent Power Producers Association of India
- McConnell Dowell - Australia
- Rashtriya Ispat Nigam Limited - India
- Vizag Seaport Private Limited - India
- Cigading International Bulk Terminal - Indonesia
- Energy Link Ltd, New Zealand
- SMC Global Power, Philippines
- Trasteel International SA, Italy
- Power Finance Corporation Ltd., India
- Edison Trading Spa - Italy
- Pendopo Energi Batubara - Indonesia
- Indonesian Coal Mining Association
- Directorate General of MIneral and Coal - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Makarim & Taira - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Heidelberg Cement - Germany
- Lanco Infratech Ltd - India
- LBH Netherlands Bv - Netherlands
- Ministry of Transport, Egypt
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Salva Resources Pvt Ltd - India
- The University of Queensland
- South Luzon Thermal Energy Corporation
- Energy Development Corp, Philippines
- Star Paper Mills Limited - India
- Electricity Authority, New Zealand
- MS Steel International - UAE
- Bhoruka Overseas - Indonesia
- Antam Resourcindo - Indonesia
- Gujarat Sidhee Cement - India
- Interocean Group of Companies - India
- Georgia Ports Authority, United States
- Global Business Power Corporation, Philippines
- ASAPP Information Group - India
- Neyveli Lignite Corporation Ltd, - India
- Manunggal Multi Energi - Indonesia
- Therma Luzon, Inc, Philippines
- Jindal Steel & Power Ltd - India
- Kartika Selabumi Mining - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Sical Logistics Limited - India
- Orica Australia Pty. Ltd.
- Leighton Contractors Pty Ltd - Australia
- Australian Commodity Traders Exchange
- Petrochimia International Co. Ltd.- Taiwan
- Price Waterhouse Coopers - Russia
- Krishnapatnam Port Company Ltd. - India
- Baramulti Group, Indonesia
- CIMB Investment Bank - Malaysia
- Cement Manufacturers Association - India
- Bukit Makmur.PT - Indonesia
- Indogreen Group - Indonesia
- Kepco SPC Power Corporation, Philippines
- Goldman Sachs - Singapore
- Mjunction Services Limited - India
- Coalindo Energy - Indonesia
- Indian Oil Corporation Limited
- Barasentosa Lestari - Indonesia
- Latin American Coal - Colombia
- Ind-Barath Power Infra Limited - India
- Deloitte Consulting - India
- Anglo American - United Kingdom
- Altura Mining Limited, Indonesia
- London Commodity Brokers - England
- White Energy Company Limited
- Indika Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Orica Mining Services - Indonesia
- Wood Mackenzie - Singapore
- Bharathi Cement Corporation - India
- Port Waratah Coal Services - Australia
- Coastal Gujarat Power Limited - India
- Meralco Power Generation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Siam City Cement PLC, Thailand
- Bulk Trading Sa - Switzerland
- Renaissance Capital - South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Offshore Bulk Terminal Pte Ltd, Singapore
- Intertek Mineral Services - Indonesia
- Iligan Light & Power Inc, Philippines
- Singapore Mercantile Exchange
- Merrill Lynch Commodities Europe
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