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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, 16 June 11
FREIGHT MARKET FAILS TO RECOVER - DREWRY / HELLENIC SHIPPING
With demand failing to improve enough to contain the colossal increases in supply, the dry bulk freight market stayed near the dreadfully low levels ...
Thursday, 16 June 11
VALLAR CONTROLS 84.7 PERCENT STAKE IN BERAU COAL - INSIDER STORIES
Insider Stories reported that, London-based investment company Vallar Plc, via its subsidiary dubbed Vallar Investments UK Limited, today announced ...
Wednesday, 15 June 11
INDONESIA NEW COAL POLICY WORRIES INDIA POWER FIRMS - MYDIGITALFC
Tata Power, Adani group, Lanco Infratech and Reliance Power, among other Indian coal importers, are waiting to assess the impact of the Indonesian g ...
Wednesday, 15 June 11
BAYAN RESOURCES OWNS 56 PERCENT KANGAROO - INSIDER STORIES
Australia-listed coal miner Kangaroo Resources Limited (KRL) has obtained final approval from its shareholders to complete its US$277 million acquis ...
Wednesday, 15 June 11
DRY BULK MARKET WEAKENS AGAIN - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Despite this time of year traditionally being one of the busiest for the dry bulk market, it seems that in the post-crisis era trade patterns are co ...
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- IEA Clean Coal Centre - UK
- Vizag Seaport Private Limited - India
- SMG Consultants - Indonesia
- Jaiprakash Power Ventures ltd
- Anglo American - United Kingdom
- Sical Logistics Limited - India
- Tamil Nadu electricity Board
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Indian Energy Exchange, India
- Ceylon Electricity Board - Sri Lanka
- Holcim Trading Pte Ltd - Singapore
- Kobexindo Tractors - Indoneisa
- Mercuria Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Singapore Mercantile Exchange
- Indonesian Coal Mining Association
- VISA Power Limited - India
- Timah Investasi Mineral - Indoneisa
- Asmin Koalindo Tuhup - Indonesia
- Merrill Lynch Commodities Europe
- Central Electricity Authority - India
- Gujarat Sidhee Cement - India
- CIMB Investment Bank - Malaysia
- Pipit Mutiara Jaya. PT, Indonesia
- Cigading International Bulk Terminal - Indonesia
- Africa Commodities Group - South Africa
- Port Waratah Coal Services - Australia
- Sinarmas Energy and Mining - Indonesia
- GMR Energy Limited - India
- Bhoruka Overseas - Indonesia
- Videocon Industries ltd - India
- Bhushan Steel Limited - India
- Wood Mackenzie - Singapore
- Standard Chartered Bank - UAE
- Grasim Industreis Ltd - India
- MS Steel International - UAE
- Marubeni Corporation - India
- Jorong Barutama Greston.PT - Indonesia
- Energy Link Ltd, New Zealand
- Bhatia International Limited - India
- Kartika Selabumi Mining - Indonesia
- Malabar Cements Ltd - India
- Romanian Commodities Exchange
- Neyveli Lignite Corporation Ltd, - India
- Petrochimia International Co. Ltd.- Taiwan
- Xindia Steels Limited - India
- Ministry of Finance - Indonesia
- Medco Energi Mining Internasional
- Semirara Mining Corp, Philippines
- Global Coal Blending Company Limited - Australia
- Eastern Energy - Thailand
- Tata Chemicals Ltd - India
- Siam City Cement - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- The State Trading Corporation of India Ltd
- GN Power Mariveles Coal Plant, Philippines
- Salva Resources Pvt Ltd - India
- Parry Sugars Refinery, India
- Billiton Holdings Pty Ltd - Australia
- Thai Mozambique Logistica
- Coastal Gujarat Power Limited - India
- Energy Development Corp, Philippines
- Sojitz Corporation - Japan
- Maheswari Brothers Coal Limited - India
- Madhucon Powers Ltd - India
- Bangladesh Power Developement Board
- Planning Commission, India
- GAC Shipping (India) Pvt Ltd
- Electricity Generating Authority of Thailand
- Australian Commodity Traders Exchange
- Miang Besar Coal Terminal - Indonesia
- Coalindo Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- PowerSource Philippines DevCo
- Petron Corporation, Philippines
- Chamber of Mines of South Africa
- Oldendorff Carriers - Singapore
- Essar Steel Hazira Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Latin American Coal - Colombia
- Gujarat Electricity Regulatory Commission - India
- Sindya Power Generating Company Private Ltd
- Australian Coal Association
- Kepco SPC Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Cement Manufacturers Association - India
- Makarim & Taira - Indonesia
- Straits Asia Resources Limited - Singapore
- Binh Thuan Hamico - Vietnam
- Goldman Sachs - Singapore
- San Jose City I Power Corp, Philippines
- Power Finance Corporation Ltd., India
- The University of Queensland
- Dalmia Cement Bharat India
- Rio Tinto Coal - Australia
- Renaissance Capital - South Africa
- Bukit Asam (Persero) Tbk - Indonesia
- Therma Luzon, Inc, Philippines
- Metalloyd Limited - United Kingdom
- Sakthi Sugars Limited - India
- Edison Trading Spa - Italy
- Semirara Mining and Power Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Uttam Galva Steels Limited - India
- Sarangani Energy Corporation, Philippines
- Parliament of New Zealand
- Independent Power Producers Association of India
- TeaM Sual Corporation - Philippines
- London Commodity Brokers - England
- Maharashtra Electricity Regulatory Commission - India
- Interocean Group of Companies - India
- Gujarat Mineral Development Corp Ltd - India
- Attock Cement Pakistan Limited
- South Luzon Thermal Energy Corporation
- Vedanta Resources Plc - India
- Siam City Cement PLC, Thailand
- European Bulk Services B.V. - Netherlands
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Carbofer General Trading SA - India
- Thiess Contractors Indonesia
- Kideco Jaya Agung - Indonesia
- Bharathi Cement Corporation - India
- Wilmar Investment Holdings
- Minerals Council of Australia
- Deloitte Consulting - India
- PNOC Exploration Corporation - Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ind-Barath Power Infra Limited - India
- LBH Netherlands Bv - Netherlands
- Directorate General of MIneral and Coal - Indonesia
- ICICI Bank Limited - India
- Barasentosa Lestari - Indonesia
- GVK Power & Infra Limited - India
- Aboitiz Power Corporation - Philippines
- Mjunction Services Limited - India
- Orica Mining Services - Indonesia
- Kumho Petrochemical, South Korea
- Meenaskhi Energy Private Limited - India
- Simpson Spence & Young - Indonesia
- Bukit Baiduri Energy - Indonesia
- Banpu Public Company Limited - Thailand
- International Coal Ventures Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Georgia Ports Authority, United States
- Ambuja Cements Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Larsen & Toubro Limited - India
- Indika Energy - Indonesia
- Heidelberg Cement - Germany
- Global Business Power Corporation, Philippines
- ASAPP Information Group - India
- CNBM International Corporation - China
- Rashtriya Ispat Nigam Limited - India
- Orica Australia Pty. Ltd.
- Commonwealth Bank - Australia
- Mercator Lines Limited - India
- Altura Mining Limited, Indonesia
- Toyota Tsusho Corporation, Japan
- Ministry of Transport, Egypt
- Riau Bara Harum - Indonesia
- OPG Power Generation Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- PetroVietnam Power Coal Import and Supply Company
- Central Java Power - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Indian Oil Corporation Limited
- Economic Council, Georgia
- Global Green Power PLC Corporation, Philippines
- Electricity Authority, New Zealand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Jindal Steel & Power Ltd - India
- Agrawal Coal Company - India
- Karaikal Port Pvt Ltd - India
- Posco Energy - South Korea
- Manunggal Multi Energi - Indonesia
- Ministry of Mines - Canada
- Antam Resourcindo - Indonesia
- Eastern Coal Council - USA
- Iligan Light & Power Inc, Philippines
- Price Waterhouse Coopers - Russia
- Leighton Contractors Pty Ltd - Australia
- Coal and Oil Company - UAE
- The Treasury - Australian Government
- AsiaOL BioFuels Corp., Philippines
- PTC India Limited - India
- Bukit Makmur.PT - Indonesia
- Globalindo Alam Lestari - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Indogreen Group - Indonesia
- Bulk Trading Sa - Switzerland
- Pendopo Energi Batubara - Indonesia
- Meralco Power Generation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Aditya Birla Group - India
- Karbindo Abesyapradhi - Indoneisa
- SN Aboitiz Power Inc, Philippines
- New Zealand Coal & Carbon
- Indo Tambangraya Megah - Indonesia
- McConnell Dowell - Australia
- Bayan Resources Tbk. - Indonesia
- Borneo Indobara - Indonesia
- Lanco Infratech Ltd - India
- Savvy Resources Ltd - HongKong
- Samtan Co., Ltd - South Korea
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mintek Dendrill Indonesia
- IHS Mccloskey Coal Group - USA
- Star Paper Mills Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Baramulti Group, Indonesia
- White Energy Company Limited
- India Bulls Power Limited - India
- SMC Global Power, Philippines
- Trasteel International SA, Italy
- Directorate Of Revenue Intelligence - India
- Kaltim Prima Coal - Indonesia
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