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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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Friday, 10 February 12
TONNAGE KEEPS ON COMING - DREWRY
Drewry Maritime Research’s latest edition of its Dry Bulk Forecaster pulls no punches in its assessment of a market that looks certain to cont ...
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GIVE PERMIT POWERS TO GOVERNORS: MINERS - THE JAKARTA POST
The Jakarta Post reported that, following clashes between mining companies and local residents, the Indonesian Mining Association (IMA) wants to tra ...
Thursday, 09 February 12
AUSTRALIA'S EPIC TO ACQUIRE 15,500 HA COAL EXPLORATION LICENCES IN EAST KALIMANTAN, INDONESIA
COALspot.com - Epic Resources Limited to acquire two coal concessions in Kutai Barat regency, East Kalimantan, Indonesia.
According to company's ...
Thursday, 09 February 12
RESOURCE ALAM BUYS 28,521HA CONCESSIONS - INSIDER STORIES
Insider Stories reported that, PT Resource Alam Indonesia Tbk (KKGI), owned by Adijanto family, today announced acquisition of 75% interest in PT Ka ...
Tuesday, 07 February 12
DRY BULK MARKET FINALLY STOPS DECLINE, POSTS FIRST RISE IN MORE THAN A MONTH - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
After falling to near record lows, not seen since the mid-80s the dry bulk market has finally stopped its path to "hell", with the industr ...
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- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Cigading International Bulk Terminal - Indonesia
- Thiess Contractors Indonesia
- Vedanta Resources Plc - India
- Indogreen Group - Indonesia
- Bulk Trading Sa - Switzerland
- Simpson Spence & Young - Indonesia
- Central Electricity Authority - India
- Antam Resourcindo - Indonesia
- Meralco Power Generation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Sakthi Sugars Limited - India
- Indika Energy - Indonesia
- TeaM Sual Corporation - Philippines
- Agrawal Coal Company - India
- Dalmia Cement Bharat India
- Essar Steel Hazira Ltd - India
- Global Green Power PLC Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Georgia Ports Authority, United States
- Ceylon Electricity Board - Sri Lanka
- Edison Trading Spa - Italy
- Bank of Tokyo Mitsubishi UFJ Ltd
- Savvy Resources Ltd - HongKong
- Power Finance Corporation Ltd., India
- Price Waterhouse Coopers - Russia
- Electricity Generating Authority of Thailand
- Electricity Authority, New Zealand
- McConnell Dowell - Australia
- SMG Consultants - Indonesia
- ASAPP Information Group - India
- Indian Oil Corporation Limited
- Attock Cement Pakistan Limited
- International Coal Ventures Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- The State Trading Corporation of India Ltd
- CIMB Investment Bank - Malaysia
- Riau Bara Harum - Indonesia
- Makarim & Taira - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Indian Energy Exchange, India
- Karaikal Port Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Sree Jayajothi Cements Limited - India
- Altura Mining Limited, Indonesia
- New Zealand Coal & Carbon
- Intertek Mineral Services - Indonesia
- Merrill Lynch Commodities Europe
- Madhucon Powers Ltd - India
- Sical Logistics Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Metalloyd Limited - United Kingdom
- Gujarat Electricity Regulatory Commission - India
- Bhatia International Limited - India
- Billiton Holdings Pty Ltd - Australia
- Ministry of Transport, Egypt
- Kumho Petrochemical, South Korea
- Petrochimia International Co. Ltd.- Taiwan
- Planning Commission, India
- Neyveli Lignite Corporation Ltd, - India
- Toyota Tsusho Corporation, Japan
- South Luzon Thermal Energy Corporation
- Commonwealth Bank - Australia
- Central Java Power - Indonesia
- Ambuja Cements Ltd - India
- ICICI Bank Limited - India
- Wilmar Investment Holdings
- Xindia Steels Limited - India
- Oldendorff Carriers - Singapore
- Timah Investasi Mineral - Indoneisa
- Aboitiz Power Corporation - Philippines
- SMC Global Power, Philippines
- Anglo American - United Kingdom
- Samtan Co., Ltd - South Korea
- Semirara Mining and Power Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Orica Australia Pty. Ltd.
- Kaltim Prima Coal - Indonesia
- Sindya Power Generating Company Private Ltd
- CNBM International Corporation - China
- Deloitte Consulting - India
- Aditya Birla Group - India
- Asmin Koalindo Tuhup - Indonesia
- Ministry of Mines - Canada
- Indonesian Coal Mining Association
- Romanian Commodities Exchange
- Tamil Nadu electricity Board
- Coal and Oil Company - UAE
- Orica Mining Services - Indonesia
- PNOC Exploration Corporation - Philippines
- Maharashtra Electricity Regulatory Commission - India
- Semirara Mining Corp, Philippines
- VISA Power Limited - India
- Kapuas Tunggal Persada - Indonesia
- GMR Energy Limited - India
- Chamber of Mines of South Africa
- Sinarmas Energy and Mining - Indonesia
- Videocon Industries ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Bhoruka Overseas - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Parliament of New Zealand
- PTC India Limited - India
- Therma Luzon, Inc, Philippines
- San Jose City I Power Corp, Philippines
- Malabar Cements Ltd - India
- Uttam Galva Steels Limited - India
- Parry Sugars Refinery, India
- Siam City Cement - Thailand
- Economic Council, Georgia
- Straits Asia Resources Limited - Singapore
- Interocean Group of Companies - India
- Formosa Plastics Group - Taiwan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bhushan Steel Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Eastern Coal Council - USA
- Binh Thuan Hamico - Vietnam
- Iligan Light & Power Inc, Philippines
- Mercuria Energy - Indonesia
- Medco Energi Mining Internasional
- Bukit Asam (Persero) Tbk - Indonesia
- Gujarat Sidhee Cement - India
- Chettinad Cement Corporation Ltd - India
- Jaiprakash Power Ventures ltd
- Mintek Dendrill Indonesia
- Bangladesh Power Developement Board
- Indo Tambangraya Megah - Indonesia
- European Bulk Services B.V. - Netherlands
- Kohat Cement Company Ltd. - Pakistan
- Wood Mackenzie - Singapore
- Kepco SPC Power Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Kobexindo Tractors - Indoneisa
- Barasentosa Lestari - Indonesia
- Africa Commodities Group - South Africa
- Holcim Trading Pte Ltd - Singapore
- Baramulti Group, Indonesia
- Standard Chartered Bank - UAE
- Cement Manufacturers Association - India
- Port Waratah Coal Services - Australia
- GVK Power & Infra Limited - India
- Borneo Indobara - Indonesia
- MS Steel International - UAE
- Marubeni Corporation - India
- Goldman Sachs - Singapore
- Tata Chemicals Ltd - India
- IHS Mccloskey Coal Group - USA
- Global Business Power Corporation, Philippines
- Posco Energy - South Korea
- Energy Development Corp, Philippines
- Independent Power Producers Association of India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- SN Aboitiz Power Inc, Philippines
- Bharathi Cement Corporation - India
- Grasim Industreis Ltd - India
- Larsen & Toubro Limited - India
- Bukit Baiduri Energy - Indonesia
- Heidelberg Cement - Germany
- Bayan Resources Tbk. - Indonesia
- Eastern Energy - Thailand
- Mjunction Services Limited - India
- Australian Commodity Traders Exchange
- Petron Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Minerals Council of Australia
- Trasteel International SA, Italy
- Thai Mozambique Logistica
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ind-Barath Power Infra Limited - India
- Renaissance Capital - South Africa
- Sojitz Corporation - Japan
- India Bulls Power Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Latin American Coal - Colombia
- Mercator Lines Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Carbofer General Trading SA - India
- Banpu Public Company Limited - Thailand
- Energy Link Ltd, New Zealand
- Miang Besar Coal Terminal - Indonesia
- Australian Coal Association
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kartika Selabumi Mining - Indonesia
- OPG Power Generation Pvt Ltd - India
- Rio Tinto Coal - Australia
- White Energy Company Limited
- Coalindo Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- The University of Queensland
- Directorate Of Revenue Intelligence - India
- Star Paper Mills Limited - India
- Lanco Infratech Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Ministry of Finance - Indonesia
- Salva Resources Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Siam City Cement PLC, Thailand
- Singapore Mercantile Exchange
- Meenaskhi Energy Private Limited - India
- PowerSource Philippines DevCo
- Maheswari Brothers Coal Limited - India
- Globalindo Alam Lestari - Indonesia
- IEA Clean Coal Centre - UK
- LBH Netherlands Bv - Netherlands
- The Treasury - Australian Government
- Global Coal Blending Company Limited - Australia
- London Commodity Brokers - England
- Vizag Seaport Private Limited - India
- Sarangani Energy Corporation, Philippines
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