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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, 08 March 12
INDONESIA'S COAL SECTOR CAN BENEFIT FROM CLEARER REGULATIONS - FITCH RATINGS
Fitch Ratings says Indonesia's coal mining sector should continue to see strong growth prospects but can benefit from clearer and more predictable ...
Thursday, 08 March 12
DRY BULK MARKET ON THE RISE; CHINAS COAL IMPORTS COULD INCREASE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market kept on rising back to healthier levels yesterday, with the BDI (Baltic Dry Index) the industry’s benchmark, marking its 8 ...
Wednesday, 07 March 12
INDONESIA COAL BENCHMARK PRICE GAINS FOR SECOND MONTH
COALspot.com - Indonesia raised the monthly coal reference price for sales in March by 1.15 percent, the second increase since February.
The Mini ...
Wednesday, 07 March 12
INDONESIA TO LIMIT FOREIGN OWNERSHIP IN MINES TO 49 PERCENT WITHIN 10 YEARS OF PRODUCTION
COALspot.com - Foreign holders of mining licenses in Indonesia have to divert 51% of their stakes to Indonesian government or domestic entitie ...
Wednesday, 07 March 12
ASSESS ASIAS POTENTIAL, DEVELOPMENTS AND APPETITE FOR SHALE AT SHALE GAS SUMMIT
Press Release - Assess Asia’s Potential, Developments and Appetite for Shale at Shale Gas Summit on 23-24 Apr, 2012 in Beijing
China is rep ...
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- Australian Commodity Traders Exchange
- Kapuas Tunggal Persada - Indonesia
- GAC Shipping (India) Pvt Ltd
- Barasentosa Lestari - Indonesia
- IEA Clean Coal Centre - UK
- Sakthi Sugars Limited - India
- Coastal Gujarat Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- Intertek Mineral Services - Indonesia
- Global Business Power Corporation, Philippines
- Dalmia Cement Bharat India
- Ministry of Transport, Egypt
- Latin American Coal - Colombia
- Indogreen Group - Indonesia
- Bhushan Steel Limited - India
- Bangladesh Power Developement Board
- Leighton Contractors Pty Ltd - Australia
- Riau Bara Harum - Indonesia
- Ambuja Cements Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Videocon Industries ltd - India
- Miang Besar Coal Terminal - Indonesia
- Petron Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Africa Commodities Group - South Africa
- Central Electricity Authority - India
- Coalindo Energy - Indonesia
- Bharathi Cement Corporation - India
- Neyveli Lignite Corporation Ltd, - India
- Parry Sugars Refinery, India
- Metalloyd Limited - United Kingdom
- Pendopo Energi Batubara - Indonesia
- Bayan Resources Tbk. - Indonesia
- Formosa Plastics Group - Taiwan
- Port Waratah Coal Services - Australia
- SMC Global Power, Philippines
- Madhucon Powers Ltd - India
- Central Java Power - Indonesia
- Parliament of New Zealand
- Maheswari Brothers Coal Limited - India
- SN Aboitiz Power Inc, Philippines
- Samtan Co., Ltd - South Korea
- Vedanta Resources Plc - India
- LBH Netherlands Bv - Netherlands
- Marubeni Corporation - India
- Price Waterhouse Coopers - Russia
- Trasteel International SA, Italy
- Thai Mozambique Logistica
- Lanco Infratech Ltd - India
- Georgia Ports Authority, United States
- Antam Resourcindo - Indonesia
- PowerSource Philippines DevCo
- Deloitte Consulting - India
- Wood Mackenzie - Singapore
- Kideco Jaya Agung - Indonesia
- Mjunction Services Limited - India
- McConnell Dowell - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Grasim Industreis Ltd - India
- Australian Coal Association
- Bulk Trading Sa - Switzerland
- Sindya Power Generating Company Private Ltd
- Ceylon Electricity Board - Sri Lanka
- Planning Commission, India
- Orica Mining Services - Indonesia
- India Bulls Power Limited - India
- Edison Trading Spa - Italy
- Agrawal Coal Company - India
- Asmin Koalindo Tuhup - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Vizag Seaport Private Limited - India
- Sojitz Corporation - Japan
- San Jose City I Power Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
- MS Steel International - UAE
- Banpu Public Company Limited - Thailand
- Mintek Dendrill Indonesia
- The University of Queensland
- Global Green Power PLC Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Romanian Commodities Exchange
- Holcim Trading Pte Ltd - Singapore
- Bukit Makmur.PT - Indonesia
- Thiess Contractors Indonesia
- Krishnapatnam Port Company Ltd. - India
- Renaissance Capital - South Africa
- Borneo Indobara - Indonesia
- Economic Council, Georgia
- White Energy Company Limited
- South Luzon Thermal Energy Corporation
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Essar Steel Hazira Ltd - India
- Sical Logistics Limited - India
- Attock Cement Pakistan Limited
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Makarim & Taira - Indonesia
- Karaikal Port Pvt Ltd - India
- Malabar Cements Ltd - India
- Indo Tambangraya Megah - Indonesia
- Coal and Oil Company - UAE
- Siam City Cement PLC, Thailand
- Timah Investasi Mineral - Indoneisa
- Globalindo Alam Lestari - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Chamber of Mines of South Africa
- Heidelberg Cement - Germany
- Straits Asia Resources Limited - Singapore
- Savvy Resources Ltd - HongKong
- Interocean Group of Companies - India
- Aditya Birla Group - India
- Kartika Selabumi Mining - Indonesia
- Cement Manufacturers Association - India
- Wilmar Investment Holdings
- Rashtriya Ispat Nigam Limited - India
- Kobexindo Tractors - Indoneisa
- Indian Oil Corporation Limited
- IHS Mccloskey Coal Group - USA
- Binh Thuan Hamico - Vietnam
- Bukit Baiduri Energy - Indonesia
- Rio Tinto Coal - Australia
- Billiton Holdings Pty Ltd - Australia
- Directorate General of MIneral and Coal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Meenaskhi Energy Private Limited - India
- TeaM Sual Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- Bhatia International Limited - India
- Mercator Lines Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Meralco Power Generation, Philippines
- Simpson Spence & Young - Indonesia
- Energy Development Corp, Philippines
- Kaltim Prima Coal - Indonesia
- Commonwealth Bank - Australia
- Indonesian Coal Mining Association
- Tamil Nadu electricity Board
- PTC India Limited - India
- Orica Australia Pty. Ltd.
- Sarangani Energy Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- SMG Consultants - Indonesia
- Medco Energi Mining Internasional
- Xindia Steels Limited - India
- Eastern Energy - Thailand
- Jaiprakash Power Ventures ltd
- Directorate Of Revenue Intelligence - India
- Global Coal Blending Company Limited - Australia
- Salva Resources Pvt Ltd - India
- Independent Power Producers Association of India
- Uttam Galva Steels Limited - India
- Ministry of Mines - Canada
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indian Energy Exchange, India
- Electricity Generating Authority of Thailand
- Goldman Sachs - Singapore
- Gujarat Electricity Regulatory Commission - India
- Anglo American - United Kingdom
- Baramulti Group, Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- International Coal Ventures Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Aboitiz Power Corporation - Philippines
- ICICI Bank Limited - India
- Ind-Barath Power Infra Limited - India
- Merrill Lynch Commodities Europe
- Gujarat Sidhee Cement - India
- CIMB Investment Bank - Malaysia
- CNBM International Corporation - China
- The State Trading Corporation of India Ltd
- Standard Chartered Bank - UAE
- Siam City Cement - Thailand
- The Treasury - Australian Government
- Kepco SPC Power Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Ministry of Finance - Indonesia
- GMR Energy Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Toyota Tsusho Corporation, Japan
- ASAPP Information Group - India
- New Zealand Coal & Carbon
- Bahari Cakrawala Sebuku - Indonesia
- Mercuria Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Tata Chemicals Ltd - India
- Indika Energy - Indonesia
- Energy Link Ltd, New Zealand
- Iligan Light & Power Inc, Philippines
- European Bulk Services B.V. - Netherlands
- Semirara Mining Corp, Philippines
- London Commodity Brokers - England
- PetroVietnam Power Coal Import and Supply Company
- Minerals Council of Australia
- Kumho Petrochemical, South Korea
- Kalimantan Lumbung Energi - Indonesia
- Therma Luzon, Inc, Philippines
- Eastern Coal Council - USA
- Karbindo Abesyapradhi - Indoneisa
- VISA Power Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Singapore Mercantile Exchange
- Semirara Mining and Power Corporation, Philippines
- Power Finance Corporation Ltd., India
- Star Paper Mills Limited - India
- Carbofer General Trading SA - India
- Electricity Authority, New Zealand
- Chettinad Cement Corporation Ltd - India
- Sree Jayajothi Cements Limited - India
- Altura Mining Limited, Indonesia
- Larsen & Toubro Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- GVK Power & Infra Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Posco Energy - South Korea
- Kohat Cement Company Ltd. - Pakistan
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