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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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Saturday, 07 May 11
SUPRAMAXES ARE AT AROUND $ 13,500-14,000 PER DAY FOR SINGLE TRIPS
COALspot.com - The freight remained fairly steady this week with the BDI up by 71 points and closing at 1,340 points, said Capt. Reddy, the director ...
Saturday, 07 May 11
COAL PRODUCTION MAY REACH 95M TONS IN SECOND QUARTER - THE JAKARTA POST
The Jakarta Post reported that, Indonesian miners are projected to produce around 95 million tons of coal in the second quarter of this year after l ...
Friday, 06 May 11
BUKIT ASAM TO CLOSE COAL TAKEOVER IN Q2 - INSIDER STORIES
The state-controlled PT Tambang Bukit Asam Tbk (PTBA) expects to complete acquisition of two coal mining companies from four companies which is now ...
Thursday, 05 May 11
SUPRAS IN NORTH CHINA ARE GETTING CLOSE TO $ 13K FOR INDO-INDIA
Handy
The Atlantic market is stable/flat with positive undertone meaning more enquiries hitting the market today. Lack of prompt vessels. Trips to ...
Thursday, 05 May 11
PANAMAXES LEAD DRY BULK MARKET TO HIGHER GROUND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market’s benchmark, the Baltic Dry Index (BDI) managed to edge higher yesterday, rising by 1.81% to 1,292 points, in the first po ...
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- Australian Coal Association
- Toyota Tsusho Corporation, Japan
- Gujarat Electricity Regulatory Commission - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Essar Steel Hazira Ltd - India
- PowerSource Philippines DevCo
- VISA Power Limited - India
- Gujarat Sidhee Cement - India
- Miang Besar Coal Terminal - Indonesia
- Edison Trading Spa - Italy
- Madhucon Powers Ltd - India
- Vedanta Resources Plc - India
- Meenaskhi Energy Private Limited - India
- Anglo American - United Kingdom
- ICICI Bank Limited - India
- Makarim & Taira - Indonesia
- Salva Resources Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Goldman Sachs - Singapore
- Posco Energy - South Korea
- Semirara Mining Corp, Philippines
- Leighton Contractors Pty Ltd - Australia
- White Energy Company Limited
- Commonwealth Bank - Australia
- Ministry of Transport, Egypt
- Power Finance Corporation Ltd., India
- Thai Mozambique Logistica
- Straits Asia Resources Limited - Singapore
- Grasim Industreis Ltd - India
- Bhatia International Limited - India
- Iligan Light & Power Inc, Philippines
- Bhushan Steel Limited - India
- Port Waratah Coal Services - Australia
- Eastern Coal Council - USA
- India Bulls Power Limited - India
- The State Trading Corporation of India Ltd
- Mercator Lines Limited - India
- Baramulti Group, Indonesia
- Indika Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- GAC Shipping (India) Pvt Ltd
- Renaissance Capital - South Africa
- Electricity Authority, New Zealand
- Energy Development Corp, Philippines
- Merrill Lynch Commodities Europe
- Kalimantan Lumbung Energi - Indonesia
- Bukit Makmur.PT - Indonesia
- Kepco SPC Power Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Kaltim Prima Coal - Indonesia
- Mintek Dendrill Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Cigading International Bulk Terminal - Indonesia
- Metalloyd Limited - United Kingdom
- Vijayanagar Sugar Pvt Ltd - India
- Thiess Contractors Indonesia
- Star Paper Mills Limited - India
- Semirara Mining and Power Corporation, Philippines
- Ministry of Finance - Indonesia
- IHS Mccloskey Coal Group - USA
- AsiaOL BioFuels Corp., Philippines
- Eastern Energy - Thailand
- New Zealand Coal & Carbon
- Xindia Steels Limited - India
- International Coal Ventures Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Sarangani Energy Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Therma Luzon, Inc, Philippines
- Intertek Mineral Services - Indonesia
- Formosa Plastics Group - Taiwan
- Samtan Co., Ltd - South Korea
- Bukit Baiduri Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Mercuria Energy - Indonesia
- Sakthi Sugars Limited - India
- Oldendorff Carriers - Singapore
- Indian Oil Corporation Limited
- Bulk Trading Sa - Switzerland
- Africa Commodities Group - South Africa
- Parry Sugars Refinery, India
- European Bulk Services B.V. - Netherlands
- Sindya Power Generating Company Private Ltd
- Kohat Cement Company Ltd. - Pakistan
- Attock Cement Pakistan Limited
- Tata Chemicals Ltd - India
- The Treasury - Australian Government
- Bayan Resources Tbk. - Indonesia
- Binh Thuan Hamico - Vietnam
- Bank of Tokyo Mitsubishi UFJ Ltd
- Aboitiz Power Corporation - Philippines
- Economic Council, Georgia
- ASAPP Information Group - India
- Lanco Infratech Ltd - India
- Romanian Commodities Exchange
- Petrochimia International Co. Ltd.- Taiwan
- Bukit Asam (Persero) Tbk - Indonesia
- Global Green Power PLC Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Latin American Coal - Colombia
- Australian Commodity Traders Exchange
- Asmin Koalindo Tuhup - Indonesia
- Kobexindo Tractors - Indoneisa
- Global Coal Blending Company Limited - Australia
- Chettinad Cement Corporation Ltd - India
- Deloitte Consulting - India
- Orica Australia Pty. Ltd.
- Globalindo Alam Lestari - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Energy Link Ltd, New Zealand
- PetroVietnam Power Coal Import and Supply Company
- Interocean Group of Companies - India
- SN Aboitiz Power Inc, Philippines
- GMR Energy Limited - India
- Indian Energy Exchange, India
- SMC Global Power, Philippines
- Sojitz Corporation - Japan
- Kapuas Tunggal Persada - Indonesia
- Simpson Spence & Young - Indonesia
- Pendopo Energi Batubara - Indonesia
- CNBM International Corporation - China
- Planning Commission, India
- Holcim Trading Pte Ltd - Singapore
- Savvy Resources Ltd - HongKong
- Krishnapatnam Port Company Ltd. - India
- Neyveli Lignite Corporation Ltd, - India
- Cement Manufacturers Association - India
- Bangladesh Power Developement Board
- LBH Netherlands Bv - Netherlands
- Vizag Seaport Private Limited - India
- Maheswari Brothers Coal Limited - India
- Rio Tinto Coal - Australia
- Larsen & Toubro Limited - India
- MS Steel International - UAE
- Orica Mining Services - Indonesia
- Electricity Generating Authority of Thailand
- Barasentosa Lestari - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Meralco Power Generation, Philippines
- SMG Consultants - Indonesia
- Aditya Birla Group - India
- Coastal Gujarat Power Limited - India
- San Jose City I Power Corp, Philippines
- Heidelberg Cement - Germany
- Siam City Cement - Thailand
- Maharashtra Electricity Regulatory Commission - India
- Directorate Of Revenue Intelligence - India
- Jaiprakash Power Ventures ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Siam City Cement PLC, Thailand
- McConnell Dowell - Australia
- Manunggal Multi Energi - Indonesia
- Kartika Selabumi Mining - Indonesia
- Sical Logistics Limited - India
- OPG Power Generation Pvt Ltd - India
- Independent Power Producers Association of India
- Chamber of Mines of South Africa
- PTC India Limited - India
- Malabar Cements Ltd - India
- Kumho Petrochemical, South Korea
- Central Java Power - Indonesia
- Altura Mining Limited, Indonesia
- Petron Corporation, Philippines
- IEA Clean Coal Centre - UK
- GN Power Mariveles Coal Plant, Philippines
- Ambuja Cements Ltd - India
- The University of Queensland
- Central Electricity Authority - India
- Standard Chartered Bank - UAE
- Tamil Nadu electricity Board
- Marubeni Corporation - India
- TNB Fuel Sdn Bhd - Malaysia
- Uttam Galva Steels Limited - India
- Carbofer General Trading SA - India
- Ceylon Electricity Board - Sri Lanka
- Sree Jayajothi Cements Limited - India
- Ind-Barath Power Infra Limited - India
- Parliament of New Zealand
- Minerals Council of Australia
- Coal and Oil Company - UAE
- Georgia Ports Authority, United States
- Videocon Industries ltd - India
- Indo Tambangraya Megah - Indonesia
- Borneo Indobara - Indonesia
- Antam Resourcindo - Indonesia
- Riau Bara Harum - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Price Waterhouse Coopers - Russia
- Indogreen Group - Indonesia
- GVK Power & Infra Limited - India
- Medco Energi Mining Internasional
- Sinarmas Energy and Mining - Indonesia
- Mjunction Services Limited - India
- Singapore Mercantile Exchange
- Banpu Public Company Limited - Thailand
- TeaM Sual Corporation - Philippines
- CIMB Investment Bank - Malaysia
- Coalindo Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kideco Jaya Agung - Indonesia
- Wood Mackenzie - Singapore
- Wilmar Investment Holdings
- Dalmia Cement Bharat India
- London Commodity Brokers - England
- Bhoruka Overseas - Indonesia
- Timah Investasi Mineral - Indoneisa
- Indonesian Coal Mining Association
- Trasteel International SA, Italy
- Ministry of Mines - Canada
- Jindal Steel & Power Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Bharathi Cement Corporation - India
- Agrawal Coal Company - India
- Karaikal Port Pvt Ltd - India
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