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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, 19 May 11
OVERSUPPLY, VERY LARGE ORE CARRIERS EAT UP ON DRY BULK FREIGHT RATES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
After a brief upward momentum which ended early last week, the Baltic Dry Index, the dry bulk market’s benchmark has returned to its usual pat ...
Wednesday, 18 May 11
THE US COAL INDUSTRY LOGGED EXPORTS OF AROUND 25M TONNES IN 1Q OF 2011 - BRS
Another slow decline in the bulk markets this week, with the BCI losing the most at nearly 5%, the BPI 2.8% and the smaller sizes sub-1% amounts. Th ...
Wednesday, 18 May 11
AKR AIMS TO SELL COAL WORTH RP216 BILLION - PAPER
Bisnis Indonesia, an Indonesia's one of the leading business paper reported that, PT AKR Corporindo Tbk has targeted coal sales valued at Rp216 bil ...
Wednesday, 18 May 11
OVERHAUL OF MINING LAW MAY DETER INVESTMENT, S&P SAYS - THE JAKARTA GLOBE
The Jakarta Globe, an Indonesian English language news paper reported that, A report by Standard & Poor’s Ratings Services that a regulatory ...
Tuesday, 17 May 11
DRY BULK MARKET ENTERS WEEK ON WEAK MODE - HELLENIC SHIPPING
In yet another sign of softening freight rates for dry bulk carriers and oversupply issues, the dry bulk market entered this week on a downward path ...
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- Vizag Seaport Private Limited - India
- SMG Consultants - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Cigading International Bulk Terminal - Indonesia
- Meenaskhi Energy Private Limited - India
- Therma Luzon, Inc, Philippines
- Ministry of Mines - Canada
- Billiton Holdings Pty Ltd - Australia
- TNB Fuel Sdn Bhd - Malaysia
- India Bulls Power Limited - India
- Lanco Infratech Ltd - India
- Riau Bara Harum - Indonesia
- Global Green Power PLC Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Thai Mozambique Logistica
- Krishnapatnam Port Company Ltd. - India
- Vedanta Resources Plc - India
- Vijayanagar Sugar Pvt Ltd - India
- Bhatia International Limited - India
- Kapuas Tunggal Persada - Indonesia
- Central Java Power - Indonesia
- Pendopo Energi Batubara - Indonesia
- South Luzon Thermal Energy Corporation
- IEA Clean Coal Centre - UK
- Sree Jayajothi Cements Limited - India
- Economic Council, Georgia
- Parliament of New Zealand
- Edison Trading Spa - Italy
- Grasim Industreis Ltd - India
- Bhoruka Overseas - Indonesia
- Singapore Mercantile Exchange
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Oldendorff Carriers - Singapore
- Heidelberg Cement - Germany
- Indian Energy Exchange, India
- Anglo American - United Kingdom
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bayan Resources Tbk. - Indonesia
- Global Business Power Corporation, Philippines
- Posco Energy - South Korea
- Chettinad Cement Corporation Ltd - India
- Makarim & Taira - Indonesia
- Kaltim Prima Coal - Indonesia
- European Bulk Services B.V. - Netherlands
- LBH Netherlands Bv - Netherlands
- Price Waterhouse Coopers - Russia
- Intertek Mineral Services - Indonesia
- Chamber of Mines of South Africa
- The State Trading Corporation of India Ltd
- Sakthi Sugars Limited - India
- Rio Tinto Coal - Australia
- Jaiprakash Power Ventures ltd
- McConnell Dowell - Australia
- SMC Global Power, Philippines
- Bukit Baiduri Energy - Indonesia
- Dalmia Cement Bharat India
- Kalimantan Lumbung Energi - Indonesia
- Agrawal Coal Company - India
- Siam City Cement PLC, Thailand
- Minerals Council of Australia
- Eastern Coal Council - USA
- Tata Chemicals Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- VISA Power Limited - India
- Metalloyd Limited - United Kingdom
- Uttam Galva Steels Limited - India
- Madhucon Powers Ltd - India
- Bukit Makmur.PT - Indonesia
- San Jose City I Power Corp, Philippines
- MS Steel International - UAE
- Mintek Dendrill Indonesia
- The University of Queensland
- PowerSource Philippines DevCo
- Electricity Authority, New Zealand
- Latin American Coal - Colombia
- Mjunction Services Limited - India
- Sical Logistics Limited - India
- Planning Commission, India
- PTC India Limited - India
- Electricity Generating Authority of Thailand
- Bhushan Steel Limited - India
- Baramulti Group, Indonesia
- Borneo Indobara - Indonesia
- Malabar Cements Ltd - India
- Merrill Lynch Commodities Europe
- Sindya Power Generating Company Private Ltd
- Mercuria Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Coal and Oil Company - UAE
- Goldman Sachs - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Central Electricity Authority - India
- Medco Energi Mining Internasional
- Aditya Birla Group - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- GVK Power & Infra Limited - India
- Ind-Barath Power Infra Limited - India
- Tamil Nadu electricity Board
- Georgia Ports Authority, United States
- Pipit Mutiara Jaya. PT, Indonesia
- Interocean Group of Companies - India
- Formosa Plastics Group - Taiwan
- Gujarat Mineral Development Corp Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Bharathi Cement Corporation - India
- Directorate General of MIneral and Coal - Indonesia
- Sarangani Energy Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- ICICI Bank Limited - India
- Larsen & Toubro Limited - India
- Binh Thuan Hamico - Vietnam
- Thiess Contractors Indonesia
- Gujarat Electricity Regulatory Commission - India
- Wilmar Investment Holdings
- Alfred C Toepfer International GmbH - Germany
- CIMB Investment Bank - Malaysia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Cement Manufacturers Association - India
- London Commodity Brokers - England
- Orica Mining Services - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Videocon Industries ltd - India
- Deloitte Consulting - India
- Mercator Lines Limited - India
- PNOC Exploration Corporation - Philippines
- Indian Oil Corporation Limited
- Straits Asia Resources Limited - Singapore
- Port Waratah Coal Services - Australia
- TeaM Sual Corporation - Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Kumho Petrochemical, South Korea
- GAC Shipping (India) Pvt Ltd
- Sojitz Corporation - Japan
- Indo Tambangraya Megah - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- New Zealand Coal & Carbon
- Marubeni Corporation - India
- Iligan Light & Power Inc, Philippines
- Eastern Energy - Thailand
- White Energy Company Limited
- Toyota Tsusho Corporation, Japan
- Sinarmas Energy and Mining - Indonesia
- Australian Coal Association
- Leighton Contractors Pty Ltd - Australia
- Kepco SPC Power Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Meralco Power Generation, Philippines
- ASAPP Information Group - India
- Siam City Cement - Thailand
- Antam Resourcindo - Indonesia
- Power Finance Corporation Ltd., India
- Independent Power Producers Association of India
- Commonwealth Bank - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Timah Investasi Mineral - Indoneisa
- IHS Mccloskey Coal Group - USA
- GMR Energy Limited - India
- Coalindo Energy - Indonesia
- Renaissance Capital - South Africa
- Kideco Jaya Agung - Indonesia
- Xindia Steels Limited - India
- Essar Steel Hazira Ltd - India
- Coastal Gujarat Power Limited - India
- Romanian Commodities Exchange
- Bulk Trading Sa - Switzerland
- SN Aboitiz Power Inc, Philippines
- CNBM International Corporation - China
- Wood Mackenzie - Singapore
- Indika Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Ministry of Finance - Indonesia
- Ministry of Transport, Egypt
- Kartika Selabumi Mining - Indonesia
- Ambuja Cements Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Bangladesh Power Developement Board
- Jorong Barutama Greston.PT - Indonesia
- Energy Development Corp, Philippines
- Petron Corporation, Philippines
- Altura Mining Limited, Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Simpson Spence & Young - Indonesia
- The Treasury - Australian Government
- Attock Cement Pakistan Limited
- Savvy Resources Ltd - HongKong
- Global Coal Blending Company Limited - Australia
- Barasentosa Lestari - Indonesia
- Gujarat Sidhee Cement - India
- Samtan Co., Ltd - South Korea
- Australian Commodity Traders Exchange
- Maheswari Brothers Coal Limited - India
- Salva Resources Pvt Ltd - India
- Carbofer General Trading SA - India
- Indogreen Group - Indonesia
- Orica Australia Pty. Ltd.
- Semirara Mining Corp, Philippines
- Star Paper Mills Limited - India
- OPG Power Generation Pvt Ltd - India
- Trasteel International SA, Italy
- AsiaOL BioFuels Corp., Philippines
- Manunggal Multi Energi - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Africa Commodities Group - South Africa
- Parry Sugars Refinery, India
- Standard Chartered Bank - UAE
- Karaikal Port Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Energy Link Ltd, New Zealand
- International Coal Ventures Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Indonesian Coal Mining Association
- Kobexindo Tractors - Indoneisa
- Banpu Public Company Limited - Thailand
- Directorate Of Revenue Intelligence - India
- Rashtriya Ispat Nigam Limited - India
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