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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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Wednesday, 29 June 11
ANOTHER STRONG PERFORMANCE BY CAPESIZE - BRS
Another strong performance by the Capesize market this week, bringing the BCI up 8% to 1,974 points. However the Panamax market was penalised, losin ...
Monday, 27 June 11
THE IRON ORE IMPORTS BY CHINA SEEMED TO SLOW DOWN - VISTAAR
COALspot.com - The BDI was holding as previous week and was just up by 1 point and closed at 1424 points end of last week. The biggest gain was ...
Friday, 24 June 11
THE INDONESIAN GOVERNMENT WILL NOT EXTEND ALL EXPIRED MINING CONTRACTS - JAKARTA UPDATES
The Indonesian Government have decided not to extend all mining concessions under the scheme called Contract of Work and instead will take over the ...
Friday, 24 June 11
BERAU EYEING 70 PERCENT GROWTH IN EBITDA
Indonesia's coal producer PT Berau Coal Energy Tbk (BRAU) is eyeing a 60 -70 percent growth in EBITDA to US$ 560 million-US$595 million this year. ...
Thursday, 23 June 11
DRY BULK MARKET KEEPS EXHIBITING SIGNS OF WEAKNESS THIS WEEK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market seems to be unable to climb at new highs this week, showing signs of weakness, across most ship types. Yesterday, the Baltic Dry ...
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- Minerals Council of Australia
- Lanco Infratech Ltd - India
- Marubeni Corporation - India
- GVK Power & Infra Limited - India
- Cigading International Bulk Terminal - Indonesia
- Carbofer General Trading SA - India
- Goldman Sachs - Singapore
- AsiaOL BioFuels Corp., Philippines
- Wood Mackenzie - Singapore
- Latin American Coal - Colombia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Coalindo Energy - Indonesia
- Barasentosa Lestari - Indonesia
- Bhushan Steel Limited - India
- Sakthi Sugars Limited - India
- Energy Link Ltd, New Zealand
- Singapore Mercantile Exchange
- SMC Global Power, Philippines
- Gujarat Electricity Regulatory Commission - India
- Holcim Trading Pte Ltd - Singapore
- Orica Australia Pty. Ltd.
- Bhatia International Limited - India
- Gujarat Sidhee Cement - India
- Semirara Mining Corp, Philippines
- Simpson Spence & Young - Indonesia
- Karaikal Port Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Riau Bara Harum - Indonesia
- International Coal Ventures Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Power Finance Corporation Ltd., India
- Commonwealth Bank - Australia
- Vizag Seaport Private Limited - India
- Bayan Resources Tbk. - Indonesia
- MS Steel International - UAE
- Indika Energy - Indonesia
- Kumho Petrochemical, South Korea
- Australian Commodity Traders Exchange
- Rashtriya Ispat Nigam Limited - India
- Coal and Oil Company - UAE
- Independent Power Producers Association of India
- Medco Energi Mining Internasional
- Ind-Barath Power Infra Limited - India
- European Bulk Services B.V. - Netherlands
- TeaM Sual Corporation - Philippines
- South Luzon Thermal Energy Corporation
- Mercator Lines Limited - India
- Indian Oil Corporation Limited
- Global Coal Blending Company Limited - Australia
- GN Power Mariveles Coal Plant, Philippines
- Intertek Mineral Services - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Romanian Commodities Exchange
- Vedanta Resources Plc - India
- Standard Chartered Bank - UAE
- Madhucon Powers Ltd - India
- Africa Commodities Group - South Africa
- Tata Chemicals Ltd - India
- Maheswari Brothers Coal Limited - India
- Oldendorff Carriers - Singapore
- Uttam Galva Steels Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Jorong Barutama Greston.PT - Indonesia
- San Jose City I Power Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Mintek Dendrill Indonesia
- Savvy Resources Ltd - HongKong
- Planning Commission, India
- Kobexindo Tractors - Indoneisa
- Sical Logistics Limited - India
- Attock Cement Pakistan Limited
- Bangladesh Power Developement Board
- Petron Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Larsen & Toubro Limited - India
- Grasim Industreis Ltd - India
- ASAPP Information Group - India
- PNOC Exploration Corporation - Philippines
- Bharathi Cement Corporation - India
- Therma Luzon, Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Pendopo Energi Batubara - Indonesia
- Global Business Power Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Central Electricity Authority - India
- Bukit Makmur.PT - Indonesia
- Indo Tambangraya Megah - Indonesia
- Indonesian Coal Mining Association
- India Bulls Power Limited - India
- Siam City Cement PLC, Thailand
- Australian Coal Association
- Borneo Indobara - Indonesia
- Kartika Selabumi Mining - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GMR Energy Limited - India
- Posco Energy - South Korea
- Videocon Industries ltd - India
- Parliament of New Zealand
- Ambuja Cements Ltd - India
- Meenaskhi Energy Private Limited - India
- Salva Resources Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Makarim & Taira - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Billiton Holdings Pty Ltd - Australia
- VISA Power Limited - India
- Siam City Cement - Thailand
- London Commodity Brokers - England
- Star Paper Mills Limited - India
- Mercuria Energy - Indonesia
- Economic Council, Georgia
- Orica Mining Services - Indonesia
- Toyota Tsusho Corporation, Japan
- Energy Development Corp, Philippines
- Leighton Contractors Pty Ltd - Australia
- White Energy Company Limited
- ICICI Bank Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Kepco SPC Power Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Coastal Gujarat Power Limited - India
- Timah Investasi Mineral - Indoneisa
- Binh Thuan Hamico - Vietnam
- Ministry of Mines - Canada
- Jaiprakash Power Ventures ltd
- CNBM International Corporation - China
- Ministry of Transport, Egypt
- Global Green Power PLC Corporation, Philippines
- SMG Consultants - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Sojitz Corporation - Japan
- Thai Mozambique Logistica
- Bukit Asam (Persero) Tbk - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Malabar Cements Ltd - India
- Indogreen Group - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Dalmia Cement Bharat India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Globalindo Alam Lestari - Indonesia
- Wilmar Investment Holdings
- Mjunction Services Limited - India
- Agrawal Coal Company - India
- Directorate Of Revenue Intelligence - India
- Electricity Generating Authority of Thailand
- Directorate General of MIneral and Coal - Indonesia
- Indian Energy Exchange, India
- Jindal Steel & Power Ltd - India
- McConnell Dowell - Australia
- GAC Shipping (India) Pvt Ltd
- LBH Netherlands Bv - Netherlands
- Banpu Public Company Limited - Thailand
- The State Trading Corporation of India Ltd
- The Treasury - Australian Government
- Electricity Authority, New Zealand
- Chamber of Mines of South Africa
- PowerSource Philippines DevCo
- Kaltim Prima Coal - Indonesia
- Straits Asia Resources Limited - Singapore
- Bulk Trading Sa - Switzerland
- Edison Trading Spa - Italy
- Meralco Power Generation, Philippines
- Port Waratah Coal Services - Australia
- Sindya Power Generating Company Private Ltd
- New Zealand Coal & Carbon
- Metalloyd Limited - United Kingdom
- PTC India Limited - India
- OPG Power Generation Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Georgia Ports Authority, United States
- Xindia Steels Limited - India
- Alfred C Toepfer International GmbH - Germany
- Trasteel International SA, Italy
- The University of Queensland
- Price Waterhouse Coopers - Russia
- Deloitte Consulting - India
- Iligan Light & Power Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Ministry of Finance - Indonesia
- IHS Mccloskey Coal Group - USA
- Sree Jayajothi Cements Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Sarangani Energy Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Samtan Co., Ltd - South Korea
- Petrochimia International Co. Ltd.- Taiwan
- Interocean Group of Companies - India
- Renaissance Capital - South Africa
- Eastern Energy - Thailand
- Aditya Birla Group - India
- IEA Clean Coal Centre - UK
- Eastern Coal Council - USA
- Tamil Nadu electricity Board
- Merrill Lynch Commodities Europe
- Central Java Power - Indonesia
- Cement Manufacturers Association - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Baiduri Energy - Indonesia
- Heidelberg Cement - Germany
- Semirara Mining and Power Corporation, Philippines
- Rio Tinto Coal - Australia
- Thiess Contractors Indonesia
- Anglo American - United Kingdom
- Parry Sugars Refinery, India
- Aboitiz Power Corporation - Philippines
- Karbindo Abesyapradhi - Indoneisa
- Maharashtra Electricity Regulatory Commission - India
- Kalimantan Lumbung Energi - Indonesia
- Baramulti Group, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- CIMB Investment Bank - Malaysia
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