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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, 20 October 11
BRACKEN INTERNATIONAL MINING LISTS ON FRANKFURT STOCK EXCHANGE
Press Release - Bracken International Mining (Code:1BM) listed on the Deutsche Börse’s Frankfurt Stock Exchange today at €1.00 with ...
Thursday, 20 October 11
CAPESIZES, SUPRAMAXES LEAD GAINS FOR DRY BULK MARKET - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Struggling to find additional support, but still managing to post gains, the dry bulk market has stabilized itself on higher levels again yesterday, ...
Wednesday, 19 October 11
METALLURGICAL COAL PRICES TO DROP BELOW US$240/TONNE - WOOD MACKENZIE
Wood Mackenzie Says Metallurgical Coal Prices to Drop Below US$240/tonne by Q4 2012 But Long-term Demand Fundamentals Remain Robust
Wood Mackenzi ...
Wednesday, 19 October 11
SUPRAMAX MARKET WAS VERY FIRM LAST WEEK - BRS
With all sectors contributing positively, the BDI ended the week at 2,173 points (+8.6%), its highest level so far in 2011. The BCI stood at 3,587 ( ...
Wednesday, 19 October 11
ADARO ACQUIRES BUKIT ENIM ENERGI - INSIDER STORIES
Insider Stories reported that, Coal miner PT Adaro Energy Tbk, via its subsidiary dubbed PT Alam Tri Abadi, today revealed a 46% stake takeover of a ...
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- Central Java Power - Indonesia
- PTC India Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Agrawal Coal Company - India
- GAC Shipping (India) Pvt Ltd
- Standard Chartered Bank - UAE
- GMR Energy Limited - India
- Salva Resources Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Makmur.PT - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Sakthi Sugars Limited - India
- Wood Mackenzie - Singapore
- Bulk Trading Sa - Switzerland
- Kohat Cement Company Ltd. - Pakistan
- Goldman Sachs - Singapore
- Ministry of Mines - Canada
- IEA Clean Coal Centre - UK
- OPG Power Generation Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- TeaM Sual Corporation - Philippines
- Pendopo Energi Batubara - Indonesia
- Petron Corporation, Philippines
- Ministry of Transport, Egypt
- Central Electricity Authority - India
- Ind-Barath Power Infra Limited - India
- Posco Energy - South Korea
- Marubeni Corporation - India
- PNOC Exploration Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Barasentosa Lestari - Indonesia
- Global Coal Blending Company Limited - Australia
- Global Green Power PLC Corporation, Philippines
- Star Paper Mills Limited - India
- Formosa Plastics Group - Taiwan
- Bhatia International Limited - India
- Planning Commission, India
- GVK Power & Infra Limited - India
- Coalindo Energy - Indonesia
- Lanco Infratech Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Sindya Power Generating Company Private Ltd
- Kumho Petrochemical, South Korea
- Kobexindo Tractors - Indoneisa
- Metalloyd Limited - United Kingdom
- Eastern Energy - Thailand
- Romanian Commodities Exchange
- Semirara Mining and Power Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Grasim Industreis Ltd - India
- Baramulti Group, Indonesia
- Bangladesh Power Developement Board
- Sree Jayajothi Cements Limited - India
- Rio Tinto Coal - Australia
- The State Trading Corporation of India Ltd
- Toyota Tsusho Corporation, Japan
- McConnell Dowell - Australia
- Minerals Council of Australia
- Africa Commodities Group - South Africa
- Bukit Asam (Persero) Tbk - Indonesia
- Meralco Power Generation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Trasteel International SA, Italy
- Coastal Gujarat Power Limited - India
- Rashtriya Ispat Nigam Limited - India
- SMC Global Power, Philippines
- Australian Coal Association
- Banpu Public Company Limited - Thailand
- Kepco SPC Power Corporation, Philippines
- Borneo Indobara - Indonesia
- Uttam Galva Steels Limited - India
- London Commodity Brokers - England
- Siam City Cement PLC, Thailand
- Dalmia Cement Bharat India
- Interocean Group of Companies - India
- Electricity Authority, New Zealand
- Bharathi Cement Corporation - India
- Independent Power Producers Association of India
- Ambuja Cements Ltd - India
- The University of Queensland
- Australian Commodity Traders Exchange
- Maharashtra Electricity Regulatory Commission - India
- Therma Luzon, Inc, Philippines
- MS Steel International - UAE
- Globalindo Alam Lestari - Indonesia
- Tata Chemicals Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Tamil Nadu electricity Board
- CNBM International Corporation - China
- Eastern Coal Council - USA
- Karaikal Port Pvt Ltd - India
- Singapore Mercantile Exchange
- Aditya Birla Group - India
- Carbofer General Trading SA - India
- Cigading International Bulk Terminal - Indonesia
- Makarim & Taira - Indonesia
- Electricity Generating Authority of Thailand
- Aboitiz Power Corporation - Philippines
- Indian Oil Corporation Limited
- Orica Australia Pty. Ltd.
- Merrill Lynch Commodities Europe
- VISA Power Limited - India
- Indogreen Group - Indonesia
- Maheswari Brothers Coal Limited - India
- Chamber of Mines of South Africa
- Altura Mining Limited, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- SN Aboitiz Power Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Global Business Power Corporation, Philippines
- Georgia Ports Authority, United States
- Xindia Steels Limited - India
- Intertek Mineral Services - Indonesia
- Videocon Industries ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Kaltim Prima Coal - Indonesia
- Energy Development Corp, Philippines
- ASAPP Information Group - India
- Straits Asia Resources Limited - Singapore
- Semirara Mining Corp, Philippines
- ICICI Bank Limited - India
- Medco Energi Mining Internasional
- Indika Energy - Indonesia
- Riau Bara Harum - Indonesia
- Thai Mozambique Logistica
- Pipit Mutiara Jaya. PT, Indonesia
- Directorate Of Revenue Intelligence - India
- Power Finance Corporation Ltd., India
- Sical Logistics Limited - India
- Bayan Resources Tbk. - Indonesia
- Oldendorff Carriers - Singapore
- Manunggal Multi Energi - Indonesia
- Bhoruka Overseas - Indonesia
- Mjunction Services Limited - India
- Cement Manufacturers Association - India
- Malabar Cements Ltd - India
- Sojitz Corporation - Japan
- Price Waterhouse Coopers - Russia
- Chettinad Cement Corporation Ltd - India
- Samtan Co., Ltd - South Korea
- San Jose City I Power Corp, Philippines
- Orica Mining Services - Indonesia
- Vedanta Resources Plc - India
- Miang Besar Coal Terminal - Indonesia
- India Bulls Power Limited - India
- Kideco Jaya Agung - Indonesia
- Essar Steel Hazira Ltd - India
- Parry Sugars Refinery, India
- Larsen & Toubro Limited - India
- Simpson Spence & Young - Indonesia
- South Luzon Thermal Energy Corporation
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Jaiprakash Power Ventures ltd
- Sarangani Energy Corporation, Philippines
- Edison Trading Spa - Italy
- Timah Investasi Mineral - Indoneisa
- Wilmar Investment Holdings
- Savvy Resources Ltd - HongKong
- SMG Consultants - Indonesia
- White Energy Company Limited
- International Coal Ventures Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Attock Cement Pakistan Limited
- Leighton Contractors Pty Ltd - Australia
- Holcim Trading Pte Ltd - Singapore
- Gujarat Sidhee Cement - India
- Madhucon Powers Ltd - India
- Port Waratah Coal Services - Australia
- Economic Council, Georgia
- Siam City Cement - Thailand
- Alfred C Toepfer International GmbH - Germany
- Ministry of Finance - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Indonesian Coal Mining Association
- Mercuria Energy - Indonesia
- Mintek Dendrill Indonesia
- Billiton Holdings Pty Ltd - Australia
- Asmin Koalindo Tuhup - Indonesia
- Indian Energy Exchange, India
- Parliament of New Zealand
- Antam Resourcindo - Indonesia
- Deloitte Consulting - India
- Petrochimia International Co. Ltd.- Taiwan
- Krishnapatnam Port Company Ltd. - India
- Binh Thuan Hamico - Vietnam
- Bhushan Steel Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Thiess Contractors Indonesia
- PowerSource Philippines DevCo
- Gujarat Mineral Development Corp Ltd - India
- The Treasury - Australian Government
- New Zealand Coal & Carbon
- Meenaskhi Energy Private Limited - India
- Renaissance Capital - South Africa
- Mercator Lines Limited - India
- Jindal Steel & Power Ltd - India
- Kartika Selabumi Mining - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- IHS Mccloskey Coal Group - USA
- Commonwealth Bank - Australia
- Heidelberg Cement - Germany
- Anglo American - United Kingdom
- Indo Tambangraya Megah - Indonesia
- Coal and Oil Company - UAE
- Sinarmas Energy and Mining - Indonesia
- Bukit Baiduri Energy - Indonesia
- Latin American Coal - Colombia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Iligan Light & Power Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- CIMB Investment Bank - Malaysia
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