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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, 29 April 12
THE FREIGHT MARKET EXPECTED TO BE STEADY NEXT WEEK - VISTAAR
COALspot.com - The BDI continued to go up with the support of Panamax/Supramax and was up by 8.34 pct closing at 1,156 points.
The cape index was ...
Sunday, 29 April 12
INDONESIAN SUB-BITUMINOUS COAL SWAPS FOR MAY 2012 DELIVERY WAS STABLE THIS WEEK
COALspot.com - Indonesian sub-bituminous coal swaps for May deliveries stable this week, according to DSP of SGX AsiaClear OTC Coal Swaps. In the me ...
Friday, 27 April 12
BUKIT ASAMS NET INCOME UP 14% IN 1Q 2012 (UNAUDITED)
Press Release - PT Bukit Asam (Persero) Tbk, announced the Consolidated Financial Statements and Subsidiaries per 31 March 2012 (Unaudited).
Reve ...
Thursday, 26 April 12
AUSTRALIAS COKAL EXPANDS MET COAL POTENTIAL INTO WEST KALIMANTAN
COALspot.com - Global metallurgical coal group Cokal Limited (Cokal) (ASX:CKA) announced today it has completed the acquisition of 75.2% of PT Silan ...
Thursday, 26 April 12
BUKIT ASAMS 1Q OPERATING PROFIT MARGIN HAS INCREASED BY 6% TO RP. 1 TRILLION
COALspot.com - PT. Bukit Asam (Persero), the Indonesia’s state owned coal miner's 1Q, 2012 revenue has increased by 31% to Rp. 3.02 trillion ...
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- Price Waterhouse Coopers - Russia
- Electricity Authority, New Zealand
- Global Green Power PLC Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Borneo Indobara - Indonesia
- Wilmar Investment Holdings
- Vizag Seaport Private Limited - India
- Bangladesh Power Developement Board
- Barasentosa Lestari - Indonesia
- Savvy Resources Ltd - HongKong
- Sindya Power Generating Company Private Ltd
- SN Aboitiz Power Inc, Philippines
- Bharathi Cement Corporation - India
- ASAPP Information Group - India
- Indonesian Coal Mining Association
- Bhatia International Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Vedanta Resources Plc - India
- Petrochimia International Co. Ltd.- Taiwan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Madhucon Powers Ltd - India
- San Jose City I Power Corp, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Toyota Tsusho Corporation, Japan
- Aboitiz Power Corporation - Philippines
- Medco Energi Mining Internasional
- Miang Besar Coal Terminal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Meralco Power Generation, Philippines
- Mjunction Services Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Goldman Sachs - Singapore
- GMR Energy Limited - India
- Indika Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- South Luzon Thermal Energy Corporation
- Malabar Cements Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- SMG Consultants - Indonesia
- Tamil Nadu electricity Board
- Kumho Petrochemical, South Korea
- Kartika Selabumi Mining - Indonesia
- Bhoruka Overseas - Indonesia
- Sojitz Corporation - Japan
- Asmin Koalindo Tuhup - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kobexindo Tractors - Indoneisa
- Banpu Public Company Limited - Thailand
- Simpson Spence & Young - Indonesia
- Georgia Ports Authority, United States
- AsiaOL BioFuels Corp., Philippines
- Siam City Cement - Thailand
- Karbindo Abesyapradhi - Indoneisa
- Essar Steel Hazira Ltd - India
- Central Java Power - Indonesia
- Larsen & Toubro Limited - India
- European Bulk Services B.V. - Netherlands
- Heidelberg Cement - Germany
- Bukit Makmur.PT - Indonesia
- Jaiprakash Power Ventures ltd
- Gujarat Electricity Regulatory Commission - India
- Interocean Group of Companies - India
- Sree Jayajothi Cements Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Electricity Generating Authority of Thailand
- Coal and Oil Company - UAE
- Leighton Contractors Pty Ltd - Australia
- Formosa Plastics Group - Taiwan
- Uttam Galva Steels Limited - India
- White Energy Company Limited
- Neyveli Lignite Corporation Ltd, - India
- Ministry of Finance - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Ind-Barath Power Infra Limited - India
- Siam City Cement PLC, Thailand
- Tata Chemicals Ltd - India
- Rio Tinto Coal - Australia
- London Commodity Brokers - England
- Kapuas Tunggal Persada - Indonesia
- GVK Power & Infra Limited - India
- Antam Resourcindo - Indonesia
- Xindia Steels Limited - India
- Samtan Co., Ltd - South Korea
- Oldendorff Carriers - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Videocon Industries ltd - India
- Bukit Baiduri Energy - Indonesia
- Altura Mining Limited, Indonesia
- Mercuria Energy - Indonesia
- Mintek Dendrill Indonesia
- Iligan Light & Power Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Petron Corporation, Philippines
- Attock Cement Pakistan Limited
- IEA Clean Coal Centre - UK
- Dalmia Cement Bharat India
- Economic Council, Georgia
- Coastal Gujarat Power Limited - India
- Pendopo Energi Batubara - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Therma Luzon, Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Kepco SPC Power Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Standard Chartered Bank - UAE
- Maheswari Brothers Coal Limited - India
- Renaissance Capital - South Africa
- The State Trading Corporation of India Ltd
- Eastern Energy - Thailand
- Directorate Of Revenue Intelligence - India
- Latin American Coal - Colombia
- Kohat Cement Company Ltd. - Pakistan
- Australian Commodity Traders Exchange
- PowerSource Philippines DevCo
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Global Coal Blending Company Limited - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Energy Development Corp, Philippines
- Sarangani Energy Corporation, Philippines
- Chamber of Mines of South Africa
- Eastern Coal Council - USA
- Orica Mining Services - Indonesia
- Riau Bara Harum - Indonesia
- Bayan Resources Tbk. - Indonesia
- The University of Queensland
- GN Power Mariveles Coal Plant, Philippines
- Manunggal Multi Energi - Indonesia
- Thiess Contractors Indonesia
- Indian Oil Corporation Limited
- Binh Thuan Hamico - Vietnam
- Pipit Mutiara Jaya. PT, Indonesia
- OPG Power Generation Pvt Ltd - India
- Trasteel International SA, Italy
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Jindal Steel & Power Ltd - India
- Intertek Mineral Services - Indonesia
- Independent Power Producers Association of India
- Cement Manufacturers Association - India
- Deloitte Consulting - India
- Straits Asia Resources Limited - Singapore
- TeaM Sual Corporation - Philippines
- Cigading International Bulk Terminal - Indonesia
- Anglo American - United Kingdom
- Thai Mozambique Logistica
- Power Finance Corporation Ltd., India
- Karaikal Port Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Ministry of Transport, Egypt
- Port Waratah Coal Services - Australia
- Africa Commodities Group - South Africa
- Holcim Trading Pte Ltd - Singapore
- Ceylon Electricity Board - Sri Lanka
- Bhushan Steel Limited - India
- Metalloyd Limited - United Kingdom
- Directorate General of MIneral and Coal - Indonesia
- Makarim & Taira - Indonesia
- New Zealand Coal & Carbon
- Rashtriya Ispat Nigam Limited - India
- Mercator Lines Limited - India
- Energy Link Ltd, New Zealand
- Kaltim Prima Coal - Indonesia
- CNBM International Corporation - China
- Carbofer General Trading SA - India
- Alfred C Toepfer International GmbH - Germany
- Grasim Industreis Ltd - India
- Parry Sugars Refinery, India
- Marubeni Corporation - India
- Indogreen Group - Indonesia
- Semirara Mining Corp, Philippines
- Globalindo Alam Lestari - Indonesia
- Posco Energy - South Korea
- Gujarat Sidhee Cement - India
- Bulk Trading Sa - Switzerland
- Agrawal Coal Company - India
- Parliament of New Zealand
- PNOC Exploration Corporation - Philippines
- Star Paper Mills Limited - India
- MS Steel International - UAE
- SMC Global Power, Philippines
- Australian Coal Association
- Indo Tambangraya Megah - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- The Treasury - Australian Government
- VISA Power Limited - India
- McConnell Dowell - Australia
- Commonwealth Bank - Australia
- India Bulls Power Limited - India
- Merrill Lynch Commodities Europe
- ICICI Bank Limited - India
- Wood Mackenzie - Singapore
- CIMB Investment Bank - Malaysia
- Singapore Mercantile Exchange
- Orica Australia Pty. Ltd.
- Baramulti Group, Indonesia
- Kideco Jaya Agung - Indonesia
- Meenaskhi Energy Private Limited - India
- Edison Trading Spa - Italy
- Aditya Birla Group - India
- Ambuja Cements Ltd - India
- Planning Commission, India
- Krishnapatnam Port Company Ltd. - India
- Sinarmas Energy and Mining - Indonesia
- PTC India Limited - India
- Minerals Council of Australia
- GAC Shipping (India) Pvt Ltd
- Romanian Commodities Exchange
- Coalindo Energy - Indonesia
- Indian Energy Exchange, India
- Ministry of Mines - Canada
- Lanco Infratech Ltd - India
- IHS Mccloskey Coal Group - USA
- Central Electricity Authority - India
- Sakthi Sugars Limited - India
- Sical Logistics Limited - India
- Salva Resources Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
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