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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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Saturday, 25 August 12
INDONESIAN COAL SWAP REMAINS STABLE AT LOW LEVEL
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for October 2012 delivery gain 0.804 percent W-o-W on Friday (24 August 2012) closing but lost 0. ...
Thursday, 23 August 12
INDONESIA-INDIA, LARGE ECO SUPRA FIXED AT USD 6K FOR DELIVERY SOUTH CHINA - FEARNLEYS AS
Handy
The market continued the same trend as last week, low activity and holidays in some countries.
Rate wise unchanged, with US Gulf/Continent ...
Thursday, 23 August 12
EGCO GROUP EXPANDS TOWARDS INTEGRATED ENERGY BUSINESS WITH INVESTMENT IN INDONESIAS COAL MINE
Electricity Generating Public Company Limited or EGCO Group, the Thailand’s first Independent Power Producer has continually invaded foreign m ...
Thursday, 23 August 12
EGCO GROUP ANNOUNCES 2 BILLION BAHT PROFITS IN Q2/2012
Successfully Establishes Integrated Energy Business and Strengthen Investments in ASEAN
Mr. Sahust Pratuknukul, President of Electri ...
Monday, 20 August 12
CHINESE COAL SWAPS RISE, INDONESIAN COAL CONTRACTS SOFT
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for October 2012 delivery lost -2.05 percent W-o-W on Friday (17 August 2012) closing but gained ...
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- SMC Global Power, Philippines
- San Jose City I Power Corp, Philippines
- Kaltim Prima Coal - Indonesia
- Semirara Mining Corp, Philippines
- Bharathi Cement Corporation - India
- Kohat Cement Company Ltd. - Pakistan
- TNB Fuel Sdn Bhd - Malaysia
- CNBM International Corporation - China
- ASAPP Information Group - India
- Rashtriya Ispat Nigam Limited - India
- Coastal Gujarat Power Limited - India
- Merrill Lynch Commodities Europe
- Singapore Mercantile Exchange
- Bukit Makmur.PT - Indonesia
- Kepco SPC Power Corporation, Philippines
- Vedanta Resources Plc - India
- Petron Corporation, Philippines
- Renaissance Capital - South Africa
- Indogreen Group - Indonesia
- Samtan Co., Ltd - South Korea
- Latin American Coal - Colombia
- Star Paper Mills Limited - India
- Heidelberg Cement - Germany
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- GMR Energy Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Goldman Sachs - Singapore
- Ministry of Finance - Indonesia
- Planning Commission, India
- Vijayanagar Sugar Pvt Ltd - India
- The Treasury - Australian Government
- Agrawal Coal Company - India
- Kumho Petrochemical, South Korea
- ICICI Bank Limited - India
- Electricity Authority, New Zealand
- Directorate Of Revenue Intelligence - India
- OPG Power Generation Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Aditya Birla Group - India
- Global Green Power PLC Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Global Coal Blending Company Limited - Australia
- Bayan Resources Tbk. - Indonesia
- Sarangani Energy Corporation, Philippines
- Tamil Nadu electricity Board
- Videocon Industries ltd - India
- Savvy Resources Ltd - HongKong
- Commonwealth Bank - Australia
- Vizag Seaport Private Limited - India
- Ceylon Electricity Board - Sri Lanka
- Wood Mackenzie - Singapore
- Coal and Oil Company - UAE
- GN Power Mariveles Coal Plant, Philippines
- Essar Steel Hazira Ltd - India
- New Zealand Coal & Carbon
- Karbindo Abesyapradhi - Indoneisa
- Trasteel International SA, Italy
- Chamber of Mines of South Africa
- Binh Thuan Hamico - Vietnam
- Interocean Group of Companies - India
- Tata Chemicals Ltd - India
- Therma Luzon, Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Wilmar Investment Holdings
- Krishnapatnam Port Company Ltd. - India
- Kartika Selabumi Mining - Indonesia
- Economic Council, Georgia
- Romanian Commodities Exchange
- Africa Commodities Group - South Africa
- Mintek Dendrill Indonesia
- Global Business Power Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Dalmia Cement Bharat India
- MS Steel International - UAE
- Billiton Holdings Pty Ltd - Australia
- Manunggal Multi Energi - Indonesia
- Eastern Energy - Thailand
- Gujarat Mineral Development Corp Ltd - India
- Meenaskhi Energy Private Limited - India
- Eastern Coal Council - USA
- Ministry of Transport, Egypt
- Energy Development Corp, Philippines
- Orica Mining Services - Indonesia
- Sojitz Corporation - Japan
- India Bulls Power Limited - India
- Uttam Galva Steels Limited - India
- Bukit Baiduri Energy - Indonesia
- Australian Commodity Traders Exchange
- Holcim Trading Pte Ltd - Singapore
- Bhushan Steel Limited - India
- Anglo American - United Kingdom
- Australian Coal Association
- Indian Energy Exchange, India
- Bhatia International Limited - India
- SMG Consultants - Indonesia
- Iligan Light & Power Inc, Philippines
- Sical Logistics Limited - India
- Jorong Barutama Greston.PT - Indonesia
- TeaM Sual Corporation - Philippines
- Kapuas Tunggal Persada - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Parliament of New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mjunction Services Limited - India
- Sree Jayajothi Cements Limited - India
- Straits Asia Resources Limited - Singapore
- Central Java Power - Indonesia
- Price Waterhouse Coopers - Russia
- LBH Netherlands Bv - Netherlands
- CIMB Investment Bank - Malaysia
- Altura Mining Limited, Indonesia
- Orica Australia Pty. Ltd.
- Mercator Lines Limited - India
- European Bulk Services B.V. - Netherlands
- Kalimantan Lumbung Energi - Indonesia
- Thiess Contractors Indonesia
- Lanco Infratech Ltd - India
- Rio Tinto Coal - Australia
- Riau Bara Harum - Indonesia
- Gujarat Sidhee Cement - India
- Simpson Spence & Young - Indonesia
- Malabar Cements Ltd - India
- McConnell Dowell - Australia
- Sindya Power Generating Company Private Ltd
- Indonesian Coal Mining Association
- Bulk Trading Sa - Switzerland
- Madhucon Powers Ltd - India
- Port Waratah Coal Services - Australia
- Maheswari Brothers Coal Limited - India
- Posco Energy - South Korea
- Baramulti Group, Indonesia
- Parry Sugars Refinery, India
- Asmin Koalindo Tuhup - Indonesia
- Medco Energi Mining Internasional
- Larsen & Toubro Limited - India
- Toyota Tsusho Corporation, Japan
- Gujarat Electricity Regulatory Commission - India
- Standard Chartered Bank - UAE
- Attock Cement Pakistan Limited
- Leighton Contractors Pty Ltd - Australia
- Edison Trading Spa - Italy
- Barasentosa Lestari - Indonesia
- Makarim & Taira - Indonesia
- Ambuja Cements Ltd - India
- Indo Tambangraya Megah - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- PowerSource Philippines DevCo
- Sakthi Sugars Limited - India
- Deloitte Consulting - India
- Indian Oil Corporation Limited
- Minerals Council of Australia
- Borneo Indobara - Indonesia
- IHS Mccloskey Coal Group - USA
- Banpu Public Company Limited - Thailand
- Mercuria Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Globalindo Alam Lestari - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Chettinad Cement Corporation Ltd - India
- Grasim Industreis Ltd - India
- Cigading International Bulk Terminal - Indonesia
- London Commodity Brokers - England
- Oldendorff Carriers - Singapore
- Thai Mozambique Logistica
- Georgia Ports Authority, United States
- PTC India Limited - India
- VISA Power Limited - India
- Formosa Plastics Group - Taiwan
- White Energy Company Limited
- Electricity Generating Authority of Thailand
- Cement Manufacturers Association - India
- International Coal Ventures Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Bangladesh Power Developement Board
- Carbofer General Trading SA - India
- Kobexindo Tractors - Indoneisa
- Energy Link Ltd, New Zealand
- Aboitiz Power Corporation - Philippines
- PNOC Exploration Corporation - Philippines
- Independent Power Producers Association of India
- SN Aboitiz Power Inc, Philippines
- Power Finance Corporation Ltd., India
- Xindia Steels Limited - India
- Sinarmas Energy and Mining - Indonesia
- Salva Resources Pvt Ltd - India
- Antam Resourcindo - Indonesia
- IEA Clean Coal Centre - UK
- Metalloyd Limited - United Kingdom
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Jindal Steel & Power Ltd - India
- Indika Energy - Indonesia
- Siam City Cement PLC, Thailand
- Pendopo Energi Batubara - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GVK Power & Infra Limited - India
- The University of Queensland
- Siam City Cement - Thailand
- Bhoruka Overseas - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Central Electricity Authority - India
- South Luzon Thermal Energy Corporation
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GAC Shipping (India) Pvt Ltd
- Alfred C Toepfer International GmbH - Germany
- Meralco Power Generation, Philippines
- Coalindo Energy - Indonesia
- Marubeni Corporation - India
- Bahari Cakrawala Sebuku - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Ministry of Mines - Canada
- The State Trading Corporation of India Ltd
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