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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, 06 October 11
SOUTH EAST ASIAS AGGRESSIVE POWER DEMAND GROWTH WILL REQUIRE INVESTMENT OF US$125 BN BY 2020 - WOOD MACKENZIE
COALspot.com - Wood Mackenzie says that South East Asia’s demand growth for new power generation is so aggressive that new power generation in ...
Thursday, 06 October 11
CHINESE DEMAND FOR COAL IMPORTS TO MODERATE IN 2012 - MISWIN MAHESH
COALspot.com - We expect Chinese demand growth for imported steam coal to moderate over the next year. Steam coal imports into China will modera ...
Wednesday, 05 October 11
MINISTRY STICKING TO RAW COMMODITY EXPORT BAN DESPITE INDUSTRY FEARS - JG
The Jakarta Globe, the one of the leading English news paper in Indonesia, reported that, the details of a controversial new regulation that would b ...
Wednesday, 05 October 11
ATLANTIC AND PACIFIC BASINS BECAME TIGHTER FOR PANAMAX LAST WEEK - BRS
A slump for both the Capes and Panamaxes sent the BDI down 1% this week, falling to 1,899 points.
The Capes saw the greatest movement, sliding - ...
Wednesday, 05 October 11
WITH CHINA ON HOLIDAY, DRY BULK MARKET REMAINS STAGNANT - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has remained to healthy levels after last month’s rally, but with China going on holiday this week, things are looking sta ...
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- Mercator Lines Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Samtan Co., Ltd - South Korea
- Heidelberg Cement - Germany
- PNOC Exploration Corporation - Philippines
- Salva Resources Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Videocon Industries ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bharathi Cement Corporation - India
- Dalmia Cement Bharat India
- CIMB Investment Bank - Malaysia
- Goldman Sachs - Singapore
- Bukit Makmur.PT - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Siam City Cement - Thailand
- Siam City Cement PLC, Thailand
- Marubeni Corporation - India
- Bhatia International Limited - India
- Parry Sugars Refinery, India
- Energy Development Corp, Philippines
- Indian Energy Exchange, India
- Essar Steel Hazira Ltd - India
- CNBM International Corporation - China
- Therma Luzon, Inc, Philippines
- Semirara Mining Corp, Philippines
- Parliament of New Zealand
- Intertek Mineral Services - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- New Zealand Coal & Carbon
- Kumho Petrochemical, South Korea
- Interocean Group of Companies - India
- Malabar Cements Ltd - India
- Savvy Resources Ltd - HongKong
- Petron Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Kepco SPC Power Corporation, Philippines
- Thai Mozambique Logistica
- Makarim & Taira - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Global Green Power PLC Corporation, Philippines
- Energy Link Ltd, New Zealand
- Cigading International Bulk Terminal - Indonesia
- IEA Clean Coal Centre - UK
- Aboitiz Power Corporation - Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Meralco Power Generation, Philippines
- Wood Mackenzie - Singapore
- Gujarat Electricity Regulatory Commission - India
- Banpu Public Company Limited - Thailand
- Metalloyd Limited - United Kingdom
- Maheswari Brothers Coal Limited - India
- Minerals Council of Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- GVK Power & Infra Limited - India
- Bhushan Steel Limited - India
- Leighton Contractors Pty Ltd - Australia
- Agrawal Coal Company - India
- Bhoruka Overseas - Indonesia
- McConnell Dowell - Australia
- Xindia Steels Limited - India
- Kaltim Prima Coal - Indonesia
- Tamil Nadu electricity Board
- Simpson Spence & Young - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Holcim Trading Pte Ltd - Singapore
- Chamber of Mines of South Africa
- Kobexindo Tractors - Indoneisa
- Kalimantan Lumbung Energi - Indonesia
- PTC India Limited - India
- Ministry of Finance - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Aditya Birla Group - India
- Attock Cement Pakistan Limited
- Kohat Cement Company Ltd. - Pakistan
- Sindya Power Generating Company Private Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- MS Steel International - UAE
- Madhucon Powers Ltd - India
- Indika Energy - Indonesia
- Singapore Mercantile Exchange
- SMC Global Power, Philippines
- Ind-Barath Power Infra Limited - India
- Sojitz Corporation - Japan
- TNB Fuel Sdn Bhd - Malaysia
- VISA Power Limited - India
- Electricity Generating Authority of Thailand
- Trasteel International SA, Italy
- Kartika Selabumi Mining - Indonesia
- Sree Jayajothi Cements Limited - India
- Electricity Authority, New Zealand
- OPG Power Generation Pvt Ltd - India
- Eastern Coal Council - USA
- Posco Energy - South Korea
- Jindal Steel & Power Ltd - India
- Australian Commodity Traders Exchange
- Anglo American - United Kingdom
- Billiton Holdings Pty Ltd - Australia
- SMG Consultants - Indonesia
- Borneo Indobara - Indonesia
- Larsen & Toubro Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Georgia Ports Authority, United States
- Krishnapatnam Port Company Ltd. - India
- Globalindo Alam Lestari - Indonesia
- Coal and Oil Company - UAE
- Orica Mining Services - Indonesia
- LBH Netherlands Bv - Netherlands
- Vijayanagar Sugar Pvt Ltd - India
- Commonwealth Bank - Australia
- Directorate Of Revenue Intelligence - India
- Coalindo Energy - Indonesia
- Indogreen Group - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Manunggal Multi Energi - Indonesia
- Wilmar Investment Holdings
- Power Finance Corporation Ltd., India
- Australian Coal Association
- Standard Chartered Bank - UAE
- Vedanta Resources Plc - India
- Semirara Mining and Power Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Toyota Tsusho Corporation, Japan
- Kideco Jaya Agung - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Formosa Plastics Group - Taiwan
- Central Java Power - Indonesia
- Coastal Gujarat Power Limited - India
- SN Aboitiz Power Inc, Philippines
- Global Business Power Corporation, Philippines
- Merrill Lynch Commodities Europe
- Latin American Coal - Colombia
- Bangladesh Power Developement Board
- Bukit Asam (Persero) Tbk - Indonesia
- Eastern Energy - Thailand
- Pendopo Energi Batubara - Indonesia
- Chettinad Cement Corporation Ltd - India
- The University of Queensland
- The Treasury - Australian Government
- Riau Bara Harum - Indonesia
- Baramulti Group, Indonesia
- Indonesian Coal Mining Association
- Ministry of Transport, Egypt
- Alfred C Toepfer International GmbH - Germany
- Independent Power Producers Association of India
- Iligan Light & Power Inc, Philippines
- GMR Energy Limited - India
- TeaM Sual Corporation - Philippines
- Sical Logistics Limited - India
- Star Paper Mills Limited - India
- IHS Mccloskey Coal Group - USA
- Timah Investasi Mineral - Indoneisa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Romanian Commodities Exchange
- Thiess Contractors Indonesia
- Mercuria Energy - Indonesia
- ICICI Bank Limited - India
- Binh Thuan Hamico - Vietnam
- Altura Mining Limited, Indonesia
- ASAPP Information Group - India
- Medco Energi Mining Internasional
- White Energy Company Limited
- PetroVietnam Power Coal Import and Supply Company
- Oldendorff Carriers - Singapore
- Indian Oil Corporation Limited
- Straits Asia Resources Limited - Singapore
- Grasim Industreis Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- European Bulk Services B.V. - Netherlands
- San Jose City I Power Corp, Philippines
- Ceylon Electricity Board - Sri Lanka
- Deloitte Consulting - India
- Renaissance Capital - South Africa
- Ministry of Mines - Canada
- Port Waratah Coal Services - Australia
- Mintek Dendrill Indonesia
- London Commodity Brokers - England
- Karaikal Port Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Rio Tinto Coal - Australia
- Jorong Barutama Greston.PT - Indonesia
- India Bulls Power Limited - India
- Orica Australia Pty. Ltd.
- Barasentosa Lestari - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Cement Manufacturers Association - India
- Africa Commodities Group - South Africa
- Ambuja Cements Ltd - India
- PowerSource Philippines DevCo
- Bulk Trading Sa - Switzerland
- South Luzon Thermal Energy Corporation
- Tata Chemicals Ltd - India
- Meenaskhi Energy Private Limited - India
- Edison Trading Spa - Italy
- Miang Besar Coal Terminal - Indonesia
- Gujarat Sidhee Cement - India
- Carbofer General Trading SA - India
- Mjunction Services Limited - India
- AsiaOL BioFuels Corp., Philippines
- Global Coal Blending Company Limited - Australia
- Sakthi Sugars Limited - India
- Sarangani Energy Corporation, Philippines
- Vizag Seaport Private Limited - India
- Lanco Infratech Ltd - India
- Jaiprakash Power Ventures ltd
- Uttam Galva Steels Limited - India
- Central Electricity Authority - India
- The State Trading Corporation of India Ltd
- Economic Council, Georgia
- International Coal Ventures Pvt Ltd - India
- Planning Commission, India
- Antam Resourcindo - Indonesia
- Indo Tambangraya Megah - Indonesia
- GAC Shipping (India) Pvt Ltd
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