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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, 30 September 11
INDIAN IRON ORE MARKET GETTING ACTIVE - FEARNLEYS AS
Handy
The Atlantic market continued its strong trend with fresh cargoes entering the market. Vessels open US Gulf fixed tick above US$ 27k back to t ...
Friday, 30 September 11
KRISHNAPATNAM PORT WINS GLOBAL PORT & COAL PORT OF THE YEAR AWARDS
COALspot.com - Krishnapatnam Port, a dynamic new generation world class port located in the East Coast of India has been adjudged the winner in the ...
Thursday, 29 September 11
INDONESIA'S MINERS FACE AN UNCERTAIN FUTURE - RUPERT WALKER
An evolving regulatory framework for the country's minerals industry could threaten its profitability and stifle investment.
The five-year surge ...
Thursday, 29 September 11
DRY BULK MARKET FALLS MID-WEEK, FURTHER DROP EXPECTED NEXT WEEK ON CHINA HOLIDAYS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market, as reflected by the Baltic Dry Index (BDI) retreated by 0.36% yesterday reaching 1,920 points, with the Capesize segment suffer ...
Wednesday, 28 September 11
ATLAS RESOURCES TO SELL 25% STAKE IN IPO - INSIDER STORIES
Insider Stories reported that, coal producer PT Atlas Resources Tbk, that is controlled by Indonesian businessman Andre Abdi, plans to sell 783.33 m ...
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- Iligan Light & Power Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Aboitiz Power Corporation - Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- SMC Global Power, Philippines
- Agrawal Coal Company - India
- The State Trading Corporation of India Ltd
- South Luzon Thermal Energy Corporation
- Medco Energi Mining Internasional
- Wood Mackenzie - Singapore
- Singapore Mercantile Exchange
- Global Business Power Corporation, Philippines
- Australian Commodity Traders Exchange
- Barasentosa Lestari - Indonesia
- Indian Energy Exchange, India
- Sinarmas Energy and Mining - Indonesia
- McConnell Dowell - Australia
- Latin American Coal - Colombia
- IHS Mccloskey Coal Group - USA
- Chettinad Cement Corporation Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Ministry of Transport, Egypt
- Siam City Cement - Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Standard Chartered Bank - UAE
- Kobexindo Tractors - Indoneisa
- Trasteel International SA, Italy
- CIMB Investment Bank - Malaysia
- Bukit Baiduri Energy - Indonesia
- Malabar Cements Ltd - India
- Siam City Cement PLC, Thailand
- Sical Logistics Limited - India
- Uttam Galva Steels Limited - India
- Gujarat Sidhee Cement - India
- Mercuria Energy - Indonesia
- Ministry of Mines - Canada
- Electricity Authority, New Zealand
- Therma Luzon, Inc, Philippines
- Chamber of Mines of South Africa
- Maharashtra Electricity Regulatory Commission - India
- Kepco SPC Power Corporation, Philippines
- Ambuja Cements Ltd - India
- Jindal Steel & Power Ltd - India
- Essar Steel Hazira Ltd - India
- Interocean Group of Companies - India
- Indo Tambangraya Megah - Indonesia
- Xindia Steels Limited - India
- IEA Clean Coal Centre - UK
- Ministry of Finance - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Commonwealth Bank - Australia
- Makarim & Taira - Indonesia
- Intertek Mineral Services - Indonesia
- Kideco Jaya Agung - Indonesia
- Lanco Infratech Ltd - India
- Minerals Council of Australia
- Electricity Generating Authority of Thailand
- Carbofer General Trading SA - India
- Semirara Mining Corp, Philippines
- Jaiprakash Power Ventures ltd
- Oldendorff Carriers - Singapore
- Central Java Power - Indonesia
- Salva Resources Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coalindo Energy - Indonesia
- Baramulti Group, Indonesia
- Kapuas Tunggal Persada - Indonesia
- Africa Commodities Group - South Africa
- Sindya Power Generating Company Private Ltd
- Sojitz Corporation - Japan
- New Zealand Coal & Carbon
- Economic Council, Georgia
- Manunggal Multi Energi - Indonesia
- Bulk Trading Sa - Switzerland
- OPG Power Generation Pvt Ltd - India
- ICICI Bank Limited - India
- Energy Link Ltd, New Zealand
- London Commodity Brokers - England
- Ceylon Electricity Board - Sri Lanka
- Semirara Mining and Power Corporation, Philippines
- Eastern Coal Council - USA
- Deloitte Consulting - India
- GAC Shipping (India) Pvt Ltd
- Mjunction Services Limited - India
- Tamil Nadu electricity Board
- Ind-Barath Power Infra Limited - India
- Simpson Spence & Young - Indonesia
- Riau Bara Harum - Indonesia
- Sakthi Sugars Limited - India
- Mintek Dendrill Indonesia
- Binh Thuan Hamico - Vietnam
- Holcim Trading Pte Ltd - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Altura Mining Limited, Indonesia
- The University of Queensland
- Billiton Holdings Pty Ltd - Australia
- Bhatia International Limited - India
- Bhushan Steel Limited - India
- Independent Power Producers Association of India
- Toyota Tsusho Corporation, Japan
- Bharathi Cement Corporation - India
- Parliament of New Zealand
- TeaM Sual Corporation - Philippines
- Metalloyd Limited - United Kingdom
- Edison Trading Spa - Italy
- Posco Energy - South Korea
- SMG Consultants - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Central Electricity Authority - India
- Port Waratah Coal Services - Australia
- Rio Tinto Coal - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Aditya Birla Group - India
- Karbindo Abesyapradhi - Indoneisa
- CNBM International Corporation - China
- Pipit Mutiara Jaya. PT, Indonesia
- Antam Resourcindo - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- TNB Fuel Sdn Bhd - Malaysia
- Timah Investasi Mineral - Indoneisa
- Grasim Industreis Ltd - India
- Indian Oil Corporation Limited
- Indogreen Group - Indonesia
- Sarangani Energy Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Meralco Power Generation, Philippines
- GMR Energy Limited - India
- Globalindo Alam Lestari - Indonesia
- Energy Development Corp, Philippines
- Attock Cement Pakistan Limited
- Orica Mining Services - Indonesia
- Star Paper Mills Limited - India
- Rashtriya Ispat Nigam Limited - India
- Petron Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Coastal Gujarat Power Limited - India
- India Bulls Power Limited - India
- Directorate Of Revenue Intelligence - India
- Vedanta Resources Plc - India
- Indika Energy - Indonesia
- White Energy Company Limited
- Georgia Ports Authority, United States
- Mercator Lines Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The Treasury - Australian Government
- Leighton Contractors Pty Ltd - Australia
- Indonesian Coal Mining Association
- ASAPP Information Group - India
- Australian Coal Association
- Miang Besar Coal Terminal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Tata Chemicals Ltd - India
- Bangladesh Power Developement Board
- Formosa Plastics Group - Taiwan
- Bayan Resources Tbk. - Indonesia
- Coal and Oil Company - UAE
- Maheswari Brothers Coal Limited - India
- International Coal Ventures Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Vizag Seaport Private Limited - India
- Kumho Petrochemical, South Korea
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Thiess Contractors Indonesia
- Straits Asia Resources Limited - Singapore
- Videocon Industries ltd - India
- Bhoruka Overseas - Indonesia
- Larsen & Toubro Limited - India
- PTC India Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Global Green Power PLC Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Savvy Resources Ltd - HongKong
- VISA Power Limited - India
- Renaissance Capital - South Africa
- Thai Mozambique Logistica
- SN Aboitiz Power Inc, Philippines
- Orica Australia Pty. Ltd.
- Directorate General of MIneral and Coal - Indonesia
- Madhucon Powers Ltd - India
- Merrill Lynch Commodities Europe
- Banpu Public Company Limited - Thailand
- PowerSource Philippines DevCo
- Borneo Indobara - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Price Waterhouse Coopers - Russia
- European Bulk Services B.V. - Netherlands
- San Jose City I Power Corp, Philippines
- PetroVietnam Power Coal Import and Supply Company
- MS Steel International - UAE
- Cigading International Bulk Terminal - Indonesia
- Romanian Commodities Exchange
- Parry Sugars Refinery, India
- Kaltim Prima Coal - Indonesia
- Karaikal Port Pvt Ltd - India
- Planning Commission, India
- Heidelberg Cement - Germany
- Eastern Energy - Thailand
- Anglo American - United Kingdom
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bukit Makmur.PT - Indonesia
- Dalmia Cement Bharat India
- Marubeni Corporation - India
- Kartika Selabumi Mining - Indonesia
- Sree Jayajothi Cements Limited - India
- Samtan Co., Ltd - South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GVK Power & Infra Limited - India
- Power Finance Corporation Ltd., India
- Global Coal Blending Company Limited - Australia
- Wilmar Investment Holdings
- LBH Netherlands Bv - Netherlands
- Goldman Sachs - Singapore
- Cement Manufacturers Association - India
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