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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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Tuesday, 05 April 11
DRY BULK MARKET DOWN ON FIRST DAY OF SECOND QUARTER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market began the second quarter on a downward pattern, with the industry’s benchmark, the Baltic Dry Index (BDI) shedding 1.45 pe ...
Monday, 04 April 11
INDONESIA INTERNATIONAL CONFERENCE FOCUS ON INDONESIA'S ECONOMY (IICFIE) 2011 MASTER PLAN TO ACCELERATE THE ECONOMIC DEVELOPMENT
Press Release - Since couple of years, Indonesia's economy show impressive growth. What is the Indonesia's Economic Corridor and the Master plan t ...
Saturday, 02 April 11
TNPL CALLS FOR 160KT OF NON-COKING COAL
COALspot.com - Tamil Nadu Newsprint and Papers Limited (TNPL), is seeking to procure another 160,000 MT +/- 5 percent of Non-Coking imported C ...
Saturday, 02 April 11
THE FREIGHT MARKETS LIKELY TO BE SOFT NEXT WEEK - VISTAAR SINGAPORE
COALspot.com - The freight market softened this week affecting all sectors with BDI down by 65 points (down by 4.10 pct) and closed at 1,520 points. ...
Friday, 01 April 11
SUPRAS EX RICHARDS BAY COAL TERMINAL TO INDIA HOVERING AT $ 25 - 27.00 PMT - FEARNBULK
Handy
Atlantic markets remain stable with more activity from the Black Sea to FEast paying in the mid 20´s on Supras. The USG remains firm p ...
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- Grasim Industreis Ltd - India
- Power Finance Corporation Ltd., India
- Mintek Dendrill Indonesia
- Australian Commodity Traders Exchange
- Energy Link Ltd, New Zealand
- TeaM Sual Corporation - Philippines
- Posco Energy - South Korea
- Cigading International Bulk Terminal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Coalindo Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Banpu Public Company Limited - Thailand
- Holcim Trading Pte Ltd - Singapore
- Ceylon Electricity Board - Sri Lanka
- Sindya Power Generating Company Private Ltd
- Bulk Trading Sa - Switzerland
- GVK Power & Infra Limited - India
- Intertek Mineral Services - Indonesia
- McConnell Dowell - Australia
- White Energy Company Limited
- Rashtriya Ispat Nigam Limited - India
- SMG Consultants - Indonesia
- The University of Queensland
- Videocon Industries ltd - India
- Planning Commission, India
- Neyveli Lignite Corporation Ltd, - India
- Bhoruka Overseas - Indonesia
- Kobexindo Tractors - Indoneisa
- Therma Luzon, Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- Merrill Lynch Commodities Europe
- Electricity Generating Authority of Thailand
- Bharathi Cement Corporation - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Jindal Steel & Power Ltd - India
- Orica Australia Pty. Ltd.
- Formosa Plastics Group - Taiwan
- OPG Power Generation Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Metalloyd Limited - United Kingdom
- Eastern Energy - Thailand
- Attock Cement Pakistan Limited
- TNB Fuel Sdn Bhd - Malaysia
- Carbofer General Trading SA - India
- Aboitiz Power Corporation - Philippines
- South Luzon Thermal Energy Corporation
- Kartika Selabumi Mining - Indonesia
- Simpson Spence & Young - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Lanco Infratech Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Kumho Petrochemical, South Korea
- Ministry of Transport, Egypt
- Billiton Holdings Pty Ltd - Australia
- Oldendorff Carriers - Singapore
- Iligan Light & Power Inc, Philippines
- Altura Mining Limited, Indonesia
- ASAPP Information Group - India
- Siam City Cement PLC, Thailand
- Binh Thuan Hamico - Vietnam
- European Bulk Services B.V. - Netherlands
- Meralco Power Generation, Philippines
- Africa Commodities Group - South Africa
- Latin American Coal - Colombia
- Indonesian Coal Mining Association
- GAC Shipping (India) Pvt Ltd
- Karaikal Port Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Vizag Seaport Private Limited - India
- Anglo American - United Kingdom
- Vedanta Resources Plc - India
- Renaissance Capital - South Africa
- Gujarat Sidhee Cement - India
- Makarim & Taira - Indonesia
- Kepco SPC Power Corporation, Philippines
- Parry Sugars Refinery, India
- Maheswari Brothers Coal Limited - India
- Standard Chartered Bank - UAE
- Indian Energy Exchange, India
- Bukit Makmur.PT - Indonesia
- Indo Tambangraya Megah - Indonesia
- Indogreen Group - Indonesia
- Semirara Mining and Power Corporation, Philippines
- GMR Energy Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Central Electricity Authority - India
- Eastern Coal Council - USA
- Bahari Cakrawala Sebuku - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Wood Mackenzie - Singapore
- Global Business Power Corporation, Philippines
- Siam City Cement - Thailand
- Rio Tinto Coal - Australia
- Singapore Mercantile Exchange
- Baramulti Group, Indonesia
- Pendopo Energi Batubara - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Tamil Nadu electricity Board
- Kideco Jaya Agung - Indonesia
- Manunggal Multi Energi - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Chamber of Mines of South Africa
- GN Power Mariveles Coal Plant, Philippines
- Chettinad Cement Corporation Ltd - India
- VISA Power Limited - India
- Ministry of Finance - Indonesia
- Sarangani Energy Corporation, Philippines
- Heidelberg Cement - Germany
- Antam Resourcindo - Indonesia
- Sree Jayajothi Cements Limited - India
- PTC India Limited - India
- Agrawal Coal Company - India
- Coastal Gujarat Power Limited - India
- Ind-Barath Power Infra Limited - India
- Coal and Oil Company - UAE
- Essar Steel Hazira Ltd - India
- Commonwealth Bank - Australia
- Kalimantan Lumbung Energi - Indonesia
- CIMB Investment Bank - Malaysia
- Global Coal Blending Company Limited - Australia
- PNOC Exploration Corporation - Philippines
- Petron Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Alfred C Toepfer International GmbH - Germany
- Indika Energy - Indonesia
- Borneo Indobara - Indonesia
- Toyota Tsusho Corporation, Japan
- CNBM International Corporation - China
- Australian Coal Association
- PetroVietnam Power Coal Import and Supply Company
- Parliament of New Zealand
- Romanian Commodities Exchange
- Straits Asia Resources Limited - Singapore
- Aditya Birla Group - India
- IHS Mccloskey Coal Group - USA
- Bangladesh Power Developement Board
- Deloitte Consulting - India
- Mjunction Services Limited - India
- Semirara Mining Corp, Philippines
- IEA Clean Coal Centre - UK
- Orica Mining Services - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Energy Development Corp, Philippines
- Wilmar Investment Holdings
- Bayan Resources Tbk. - Indonesia
- Port Waratah Coal Services - Australia
- Central Java Power - Indonesia
- Sical Logistics Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Madhucon Powers Ltd - India
- Samtan Co., Ltd - South Korea
- Malabar Cements Ltd - India
- Timah Investasi Mineral - Indoneisa
- Sojitz Corporation - Japan
- Indian Oil Corporation Limited
- Price Waterhouse Coopers - Russia
- Maharashtra Electricity Regulatory Commission - India
- Interocean Group of Companies - India
- Gujarat Electricity Regulatory Commission - India
- Salva Resources Pvt Ltd - India
- Cement Manufacturers Association - India
- New Zealand Coal & Carbon
- Star Paper Mills Limited - India
- ICICI Bank Limited - India
- Krishnapatnam Port Company Ltd. - India
- The State Trading Corporation of India Ltd
- Bhushan Steel Limited - India
- Independent Power Producers Association of India
- Mercuria Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Marubeni Corporation - India
- Thai Mozambique Logistica
- Thiess Contractors Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ministry of Mines - Canada
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Xindia Steels Limited - India
- Goldman Sachs - Singapore
- Kapuas Tunggal Persada - Indonesia
- India Bulls Power Limited - India
- Uttam Galva Steels Limited - India
- Economic Council, Georgia
- Georgia Ports Authority, United States
- Tata Chemicals Ltd - India
- SMC Global Power, Philippines
- Trasteel International SA, Italy
- Globalindo Alam Lestari - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Riau Bara Harum - Indonesia
- Minerals Council of Australia
- Directorate Of Revenue Intelligence - India
- Ambuja Cements Ltd - India
- The Treasury - Australian Government
- Edison Trading Spa - Italy
- Petrochimia International Co. Ltd.- Taiwan
- Bhatia International Limited - India
- Dalmia Cement Bharat India
- Mercator Lines Limited - India
- PowerSource Philippines DevCo
- London Commodity Brokers - England
- Larsen & Toubro Limited - India
- Savvy Resources Ltd - HongKong
- International Coal Ventures Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- MS Steel International - UAE
- Sakthi Sugars Limited - India
- Leighton Contractors Pty Ltd - Australia
- Electricity Authority, New Zealand
- Barasentosa Lestari - Indonesia
- Medco Energi Mining Internasional
- San Jose City I Power Corp, Philippines
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