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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, 02 June 11
LARGE SUPRAS FOR RBCT/INDIA ROUND ARE NOW ASKING 14K - FEARNBULK
Handy
The Handy/Supra market has in general been flat and un-exciting this week. The Black Sea market is almost non existing while the US Gulf mar ...
Thursday, 02 June 11
DRY BULK SHIP OWNERS LOOKING INTO SHORTENED WEEK WITH ANXIETY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With most markets in the western world closed yesterday, as a result of Memorial Day, dry bulk stakeholders weren’t able to build over the pos ...
Monday, 30 May 11
MIANG BESAR COAL TERMINAL ON TARGET
COALspot.com - MBCT, to be largest coal terminal in Asia to start construction in Indonesia’s east Kalimantan Island in July 2011 says Mr. Joh ...
Sunday, 29 May 11
THE FREIGHT MARKET CONTINUED TO GAIN MOMENTUM - VISTAAR
COALspot.com - The freight market continued to gain momentum and the BDI, Cape Index and Panamax was by up almost 10-12 pct and on all sectors, Vist ...
Saturday, 28 May 11
WCI-CHINA RATES SLIDED TO 15K AND FROM ECI AROUND 12K - FEARNLEYS AS
Handy
Rates in the Atlantic remain steady/flat with the Black Sea remaining quiet with little fresh enquiries. The Continent is seeing more tonnag ...
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- Dalmia Cement Bharat India
- Carbofer General Trading SA - India
- Sree Jayajothi Cements Limited - India
- Gujarat Electricity Regulatory Commission - India
- Manunggal Multi Energi - Indonesia
- Georgia Ports Authority, United States
- Leighton Contractors Pty Ltd - Australia
- Sakthi Sugars Limited - India
- Lanco Infratech Ltd - India
- The University of Queensland
- Semirara Mining Corp, Philippines
- Chamber of Mines of South Africa
- GAC Shipping (India) Pvt Ltd
- Toyota Tsusho Corporation, Japan
- Ministry of Finance - Indonesia
- Bukit Baiduri Energy - Indonesia
- Merrill Lynch Commodities Europe
- Coalindo Energy - Indonesia
- Standard Chartered Bank - UAE
- GN Power Mariveles Coal Plant, Philippines
- European Bulk Services B.V. - Netherlands
- Parliament of New Zealand
- Posco Energy - South Korea
- Thai Mozambique Logistica
- IEA Clean Coal Centre - UK
- TeaM Sual Corporation - Philippines
- Mjunction Services Limited - India
- Cigading International Bulk Terminal - Indonesia
- Simpson Spence & Young - Indonesia
- Sindya Power Generating Company Private Ltd
- Indo Tambangraya Megah - Indonesia
- Renaissance Capital - South Africa
- Singapore Mercantile Exchange
- Semirara Mining and Power Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- VISA Power Limited - India
- OPG Power Generation Pvt Ltd - India
- Indonesian Coal Mining Association
- Straits Asia Resources Limited - Singapore
- Coal and Oil Company - UAE
- Banpu Public Company Limited - Thailand
- Global Green Power PLC Corporation, Philippines
- McConnell Dowell - Australia
- Maheswari Brothers Coal Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Central Java Power - Indonesia
- Africa Commodities Group - South Africa
- Kideco Jaya Agung - Indonesia
- Tamil Nadu electricity Board
- SMG Consultants - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Siam City Cement PLC, Thailand
- Tata Chemicals Ltd - India
- Kaltim Prima Coal - Indonesia
- Aditya Birla Group - India
- Makarim & Taira - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Indian Energy Exchange, India
- PowerSource Philippines DevCo
- Kumho Petrochemical, South Korea
- Sarangani Energy Corporation, Philippines
- Trasteel International SA, Italy
- Attock Cement Pakistan Limited
- Energy Development Corp, Philippines
- Electricity Authority, New Zealand
- Minerals Council of Australia
- Heidelberg Cement - Germany
- Offshore Bulk Terminal Pte Ltd, Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Therma Luzon, Inc, Philippines
- Latin American Coal - Colombia
- Billiton Holdings Pty Ltd - Australia
- ASAPP Information Group - India
- Uttam Galva Steels Limited - India
- Australian Coal Association
- CNBM International Corporation - China
- Kartika Selabumi Mining - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Larsen & Toubro Limited - India
- London Commodity Brokers - England
- Kapuas Tunggal Persada - Indonesia
- Orica Australia Pty. Ltd.
- White Energy Company Limited
- CIMB Investment Bank - Malaysia
- Essar Steel Hazira Ltd - India
- Timah Investasi Mineral - Indoneisa
- Samtan Co., Ltd - South Korea
- India Bulls Power Limited - India
- Bukit Makmur.PT - Indonesia
- GMR Energy Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Meralco Power Generation, Philippines
- Gujarat Sidhee Cement - India
- Antam Resourcindo - Indonesia
- SMC Global Power, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ministry of Transport, Egypt
- Petron Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Wilmar Investment Holdings
- Pendopo Energi Batubara - Indonesia
- Romanian Commodities Exchange
- The Treasury - Australian Government
- Bulk Trading Sa - Switzerland
- Thiess Contractors Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Bhushan Steel Limited - India
- Central Electricity Authority - India
- Vizag Seaport Private Limited - India
- Formosa Plastics Group - Taiwan
- Agrawal Coal Company - India
- Star Paper Mills Limited - India
- Vedanta Resources Plc - India
- Price Waterhouse Coopers - Russia
- Xindia Steels Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Bayan Resources Tbk. - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Independent Power Producers Association of India
- Videocon Industries ltd - India
- Bhatia International Limited - India
- International Coal Ventures Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Baramulti Group, Indonesia
- Mercuria Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Indogreen Group - Indonesia
- Indian Oil Corporation Limited
- Oldendorff Carriers - Singapore
- Krishnapatnam Port Company Ltd. - India
- Coastal Gujarat Power Limited - India
- LBH Netherlands Bv - Netherlands
- Cement Manufacturers Association - India
- Karbindo Abesyapradhi - Indoneisa
- Planning Commission, India
- Salva Resources Pvt Ltd - India
- ICICI Bank Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Riau Bara Harum - Indonesia
- Grasim Industreis Ltd - India
- PNOC Exploration Corporation - Philippines
- Ambuja Cements Ltd - India
- Metalloyd Limited - United Kingdom
- Medco Energi Mining Internasional
- Australian Commodity Traders Exchange
- South Luzon Thermal Energy Corporation
- Holcim Trading Pte Ltd - Singapore
- Global Coal Blending Company Limited - Australia
- IHS Mccloskey Coal Group - USA
- Kalimantan Lumbung Energi - Indonesia
- Malabar Cements Ltd - India
- Orica Mining Services - Indonesia
- Ministry of Mines - Canada
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Madhucon Powers Ltd - India
- Jindal Steel & Power Ltd - India
- Savvy Resources Ltd - HongKong
- Globalindo Alam Lestari - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Rio Tinto Coal - Australia
- Intertek Mineral Services - Indonesia
- Binh Thuan Hamico - Vietnam
- New Zealand Coal & Carbon
- Chettinad Cement Corporation Ltd - India
- GVK Power & Infra Limited - India
- Borneo Indobara - Indonesia
- Marubeni Corporation - India
- Deloitte Consulting - India
- Jaiprakash Power Ventures ltd
- Indika Energy - Indonesia
- Altura Mining Limited, Indonesia
- Wood Mackenzie - Singapore
- San Jose City I Power Corp, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Sical Logistics Limited - India
- Goldman Sachs - Singapore
- Bhoruka Overseas - Indonesia
- Meenaskhi Energy Private Limited - India
- MS Steel International - UAE
- Barasentosa Lestari - Indonesia
- PTC India Limited - India
- Interocean Group of Companies - India
- Directorate General of MIneral and Coal - Indonesia
- Kobexindo Tractors - Indoneisa
- Power Finance Corporation Ltd., India
- AsiaOL BioFuels Corp., Philippines
- Gujarat Mineral Development Corp Ltd - India
- Bangladesh Power Developement Board
- Edison Trading Spa - Italy
- Global Business Power Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Port Waratah Coal Services - Australia
- Neyveli Lignite Corporation Ltd, - India
- Mercator Lines Limited - India
- Alfred C Toepfer International GmbH - Germany
- Commonwealth Bank - Australia
- Parry Sugars Refinery, India
- Rashtriya Ispat Nigam Limited - India
- Eastern Energy - Thailand
- Karaikal Port Pvt Ltd - India
- Eastern Coal Council - USA
- Vijayanagar Sugar Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- The State Trading Corporation of India Ltd
- Siam City Cement - Thailand
- Iligan Light & Power Inc, Philippines
- Anglo American - United Kingdom
- Bharathi Cement Corporation - India
- Economic Council, Georgia
- Directorate Of Revenue Intelligence - India
- Sojitz Corporation - Japan
- Mintek Dendrill Indonesia
- Aboitiz Power Corporation - Philippines
- PetroVietnam Power Coal Import and Supply Company
- Electricity Generating Authority of Thailand
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