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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, 01 January 12
IS INDIA FOLLOWING INDONESIA TO STANDARDIZE COAL PRICES TO GET MAXIMUM BENEFITS?
COALspot.com - Coal India limited, an Indian state owned and world largest coal producer has introduced gross calorific value (GCV) based pricing me ...
Saturday, 31 December 11
GLOBALCOAL NEWC INDEX SURGED 2.32 PERCENT
COALspot.com - globalCOAL index in Newcastle Port, benchmark for Asian market, ended substantially higher, surged 2.32 percent to US$115.47 per ...
Saturday, 31 December 11
BORNEO LUMBUNG TO BUY BUMI STAKE, SWAP CEO - THE JAKARTA GLOBE
The Jakarta Globe, one of the leading english news paper in Indonesia reported yesterday, shareholders of Indonesian coking coal miner Borneo Lumbun ...
Friday, 30 December 11
CENTRAL GOVERNMENT SHOULD ISSUE PERMITS - THE JAKARTA POST
The Jakarta Post reported that, business associations from both the palm oil and mining sectors have suggested that the central government should re ...
Thursday, 29 December 11
NEW VESSELS DELIVERED ARE FLOODING THE OCEANS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
As expected 2011 has been the year that newbuilding deliveries peaked and kept "flooding" the market, thus supressing freight rates and er ...
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- Carbofer General Trading SA - India
- Grasim Industreis Ltd - India
- Tata Chemicals Ltd - India
- GMR Energy Limited - India
- Economic Council, Georgia
- Coastal Gujarat Power Limited - India
- Kumho Petrochemical, South Korea
- Rashtriya Ispat Nigam Limited - India
- Cement Manufacturers Association - India
- Commonwealth Bank - Australia
- Bharathi Cement Corporation - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- European Bulk Services B.V. - Netherlands
- Binh Thuan Hamico - Vietnam
- Electricity Generating Authority of Thailand
- Indian Oil Corporation Limited
- Sical Logistics Limited - India
- Baramulti Group, Indonesia
- Timah Investasi Mineral - Indoneisa
- Attock Cement Pakistan Limited
- South Luzon Thermal Energy Corporation
- GAC Shipping (India) Pvt Ltd
- Semirara Mining Corp, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Manunggal Multi Energi - Indonesia
- Posco Energy - South Korea
- Indonesian Coal Mining Association
- Sojitz Corporation - Japan
- Kideco Jaya Agung - Indonesia
- Thiess Contractors Indonesia
- Bayan Resources Tbk. - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Energy Development Corp, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- PowerSource Philippines DevCo
- Energy Link Ltd, New Zealand
- Therma Luzon, Inc, Philippines
- Indika Energy - Indonesia
- SMG Consultants - Indonesia
- Bhoruka Overseas - Indonesia
- Coal and Oil Company - UAE
- Standard Chartered Bank - UAE
- Australian Coal Association
- Electricity Authority, New Zealand
- Antam Resourcindo - Indonesia
- Salva Resources Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Heidelberg Cement - Germany
- The Treasury - Australian Government
- CNBM International Corporation - China
- Bhushan Steel Limited - India
- Price Waterhouse Coopers - Russia
- Aditya Birla Group - India
- Marubeni Corporation - India
- Sree Jayajothi Cements Limited - India
- TeaM Sual Corporation - Philippines
- Oldendorff Carriers - Singapore
- LBH Netherlands Bv - Netherlands
- Bhatia International Limited - India
- Intertek Mineral Services - Indonesia
- OPG Power Generation Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Tamil Nadu electricity Board
- Kalimantan Lumbung Energi - Indonesia
- Straits Asia Resources Limited - Singapore
- Simpson Spence & Young - Indonesia
- Lanco Infratech Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Planning Commission, India
- Global Business Power Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- ICICI Bank Limited - India
- Altura Mining Limited, Indonesia
- Sindya Power Generating Company Private Ltd
- Madhucon Powers Ltd - India
- Globalindo Alam Lestari - Indonesia
- Renaissance Capital - South Africa
- SN Aboitiz Power Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Aboitiz Power Corporation - Philippines
- McConnell Dowell - Australia
- Directorate Of Revenue Intelligence - India
- Kaltim Prima Coal - Indonesia
- Deloitte Consulting - India
- Ministry of Finance - Indonesia
- Jindal Steel & Power Ltd - India
- Vedanta Resources Plc - India
- Borneo Indobara - Indonesia
- Savvy Resources Ltd - HongKong
- Power Finance Corporation Ltd., India
- Krishnapatnam Port Company Ltd. - India
- India Bulls Power Limited - India
- Latin American Coal - Colombia
- Mjunction Services Limited - India
- International Coal Ventures Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Vizag Seaport Private Limited - India
- Meenaskhi Energy Private Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- London Commodity Brokers - England
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Sarangani Energy Corporation, Philippines
- Thai Mozambique Logistica
- Mercator Lines Limited - India
- Makarim & Taira - Indonesia
- PTC India Limited - India
- Indo Tambangraya Megah - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Iligan Light & Power Inc, Philippines
- PNOC Exploration Corporation - Philippines
- Interocean Group of Companies - India
- Formosa Plastics Group - Taiwan
- Ministry of Transport, Egypt
- ASAPP Information Group - India
- Dalmia Cement Bharat India
- Mintek Dendrill Indonesia
- Siam City Cement PLC, Thailand
- Meralco Power Generation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Barasentosa Lestari - Indonesia
- San Jose City I Power Corp, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Parliament of New Zealand
- Orica Australia Pty. Ltd.
- Petron Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- New Zealand Coal & Carbon
- Bank of Tokyo Mitsubishi UFJ Ltd
- Star Paper Mills Limited - India
- The State Trading Corporation of India Ltd
- Central Electricity Authority - India
- Uttam Galva Steels Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Orica Mining Services - Indonesia
- Bukit Makmur.PT - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Trasteel International SA, Italy
- Ambuja Cements Ltd - India
- Larsen & Toubro Limited - India
- Sakthi Sugars Limited - India
- GVK Power & Infra Limited - India
- Sinarmas Energy and Mining - Indonesia
- Mercuria Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Chamber of Mines of South Africa
- Ceylon Electricity Board - Sri Lanka
- Goldman Sachs - Singapore
- Chettinad Cement Corporation Ltd - India
- Africa Commodities Group - South Africa
- White Energy Company Limited
- Australian Commodity Traders Exchange
- Global Green Power PLC Corporation, Philippines
- Siam City Cement - Thailand
- CIMB Investment Bank - Malaysia
- Bulk Trading Sa - Switzerland
- IEA Clean Coal Centre - UK
- Central Java Power - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Agrawal Coal Company - India
- Georgia Ports Authority, United States
- Indogreen Group - Indonesia
- Metalloyd Limited - United Kingdom
- Alfred C Toepfer International GmbH - Germany
- Essar Steel Hazira Ltd - India
- Anglo American - United Kingdom
- Maheswari Brothers Coal Limited - India
- Kepco SPC Power Corporation, Philippines
- Wood Mackenzie - Singapore
- Minerals Council of Australia
- Holcim Trading Pte Ltd - Singapore
- Banpu Public Company Limited - Thailand
- Semirara Mining and Power Corporation, Philippines
- Xindia Steels Limited - India
- Singapore Mercantile Exchange
- Samtan Co., Ltd - South Korea
- Merrill Lynch Commodities Europe
- SMC Global Power, Philippines
- Toyota Tsusho Corporation, Japan
- IHS Mccloskey Coal Group - USA
- Bukit Baiduri Energy - Indonesia
- Romanian Commodities Exchange
- VISA Power Limited - India
- Medco Energi Mining Internasional
- Bangladesh Power Developement Board
- Gujarat Sidhee Cement - India
- Global Coal Blending Company Limited - Australia
- Kapuas Tunggal Persada - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Parry Sugars Refinery, India
- Directorate General of MIneral and Coal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Port Waratah Coal Services - Australia
- MS Steel International - UAE
- Coalindo Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- The University of Queensland
- Eastern Coal Council - USA
- Ministry of Mines - Canada
- Malabar Cements Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Eastern Energy - Thailand
- Edison Trading Spa - Italy
- Wilmar Investment Holdings
- Indian Energy Exchange, India
- Maharashtra Electricity Regulatory Commission - India
- Gujarat Mineral Development Corp Ltd - India
- Rio Tinto Coal - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Videocon Industries ltd - India
- Riau Bara Harum - Indonesia
- Independent Power Producers Association of India
- Gujarat Electricity Regulatory Commission - India
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