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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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Sunday, 20 March 11
FREIGHT MARKETS COULD SOFTEN NEXT WEEK DUE TO JAPANESE PORTS CLOSURE AND LIBYAN CRISIS - VISTAAR
COALspot.com - The BDI was down by 1.98 pct (closing at 1531 points) mainly due to Cape index which was down by almost 11 pct and closed 1687 points ...
Friday, 18 March 11
FALL IN INDONESIAN COAL EXPORTS IN FEBRUARY 11
COALspot.com - Indonesian coal exports seen a fall of 10.76% during Feb 2011. The world’s largest coal exporter shipped 22.029 MMts of c ...
Thursday, 17 March 11
THE PACIFIC HANDY MARKET IS CURRENTLY STEADY - FEARNBULK
Handy
The Atlantic market is showing signs of recovery and does not seem to be affected by the Japan disaster. The market is very positional and i ...
Tuesday, 15 March 11
COAL PRODUCTION FORECAST TO SURGE ON RISING PRICES - THE JAKARTA GLOBE
The Jakarta Globe reported that, Indonesia’s coal production is forecast to increase by 20 percent this year as coal prices continue to ...
Monday, 14 March 11
IRON ORE TRADING WORLD EUROPE 2011
Press Release - Strategy and opportunity for miners, steelmakers, end users and the financial community.
The iron ore spot market is growing at a ...
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- Binh Thuan Hamico - Vietnam
- IHS Mccloskey Coal Group - USA
- Bahari Cakrawala Sebuku - Indonesia
- Semirara Mining Corp, Philippines
- Riau Bara Harum - Indonesia
- Bukit Makmur.PT - Indonesia
- Bhatia International Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- PTC India Limited - India
- Attock Cement Pakistan Limited
- Ministry of Finance - Indonesia
- Oldendorff Carriers - Singapore
- Rio Tinto Coal - Australia
- Power Finance Corporation Ltd., India
- Vizag Seaport Private Limited - India
- Bulk Trading Sa - Switzerland
- Indogreen Group - Indonesia
- Mintek Dendrill Indonesia
- Australian Coal Association
- GVK Power & Infra Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Manunggal Multi Energi - Indonesia
- Maheswari Brothers Coal Limited - India
- Barasentosa Lestari - Indonesia
- Central Java Power - Indonesia
- GMR Energy Limited - India
- Toyota Tsusho Corporation, Japan
- Singapore Mercantile Exchange
- Medco Energi Mining Internasional
- Ind-Barath Power Infra Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Metalloyd Limited - United Kingdom
- OPG Power Generation Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Coalindo Energy - Indonesia
- White Energy Company Limited
- Siam City Cement PLC, Thailand
- Tata Chemicals Ltd - India
- Trasteel International SA, Italy
- Deloitte Consulting - India
- Thai Mozambique Logistica
- Indo Tambangraya Megah - Indonesia
- Jindal Steel & Power Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Gujarat Electricity Regulatory Commission - India
- Minerals Council of Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Heidelberg Cement - Germany
- Global Green Power PLC Corporation, Philippines
- Interocean Group of Companies - India
- Kartika Selabumi Mining - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Georgia Ports Authority, United States
- Banpu Public Company Limited - Thailand
- Therma Luzon, Inc, Philippines
- Coastal Gujarat Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- Samtan Co., Ltd - South Korea
- Chettinad Cement Corporation Ltd - India
- Malabar Cements Ltd - India
- Directorate Of Revenue Intelligence - India
- Jorong Barutama Greston.PT - Indonesia
- Larsen & Toubro Limited - India
- Xindia Steels Limited - India
- Kobexindo Tractors - Indoneisa
- Mjunction Services Limited - India
- SN Aboitiz Power Inc, Philippines
- Formosa Plastics Group - Taiwan
- Pipit Mutiara Jaya. PT, Indonesia
- Star Paper Mills Limited - India
- Semirara Mining and Power Corporation, Philippines
- Anglo American - United Kingdom
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- SMC Global Power, Philippines
- Kideco Jaya Agung - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Timah Investasi Mineral - Indoneisa
- Bukit Asam (Persero) Tbk - Indonesia
- CNBM International Corporation - China
- Marubeni Corporation - India
- Carbofer General Trading SA - India
- IEA Clean Coal Centre - UK
- Globalindo Alam Lestari - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Meralco Power Generation, Philippines
- Global Business Power Corporation, Philippines
- Independent Power Producers Association of India
- McConnell Dowell - Australia
- Latin American Coal - Colombia
- Intertek Mineral Services - Indonesia
- New Zealand Coal & Carbon
- Sical Logistics Limited - India
- Commonwealth Bank - Australia
- Directorate General of MIneral and Coal - Indonesia
- Sindya Power Generating Company Private Ltd
- Antam Resourcindo - Indonesia
- Kapuas Tunggal Persada - Indonesia
- MS Steel International - UAE
- Orica Mining Services - Indonesia
- Iligan Light & Power Inc, Philippines
- Bharathi Cement Corporation - India
- Sakthi Sugars Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Neyveli Lignite Corporation Ltd, - India
- Energy Development Corp, Philippines
- Sojitz Corporation - Japan
- Bangladesh Power Developement Board
- Siam City Cement - Thailand
- Asmin Koalindo Tuhup - Indonesia
- International Coal Ventures Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Meenaskhi Energy Private Limited - India
- The Treasury - Australian Government
- Planning Commission, India
- Savvy Resources Ltd - HongKong
- Aboitiz Power Corporation - Philippines
- Cement Manufacturers Association - India
- Parry Sugars Refinery, India
- LBH Netherlands Bv - Netherlands
- Central Electricity Authority - India
- Romanian Commodities Exchange
- Wilmar Investment Holdings
- Standard Chartered Bank - UAE
- The University of Queensland
- Indian Oil Corporation Limited
- Bhushan Steel Limited - India
- Simpson Spence & Young - Indonesia
- Energy Link Ltd, New Zealand
- Kaltim Prima Coal - Indonesia
- Electricity Generating Authority of Thailand
- TeaM Sual Corporation - Philippines
- Thiess Contractors Indonesia
- Orica Australia Pty. Ltd.
- Sarangani Energy Corporation, Philippines
- Economic Council, Georgia
- Karaikal Port Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Grasim Industreis Ltd - India
- Salva Resources Pvt Ltd - India
- Posco Energy - South Korea
- AsiaOL BioFuels Corp., Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Baiduri Energy - Indonesia
- Australian Commodity Traders Exchange
- London Commodity Brokers - England
- Ministry of Transport, Egypt
- Lanco Infratech Ltd - India
- Jaiprakash Power Ventures ltd
- Tamil Nadu electricity Board
- India Bulls Power Limited - India
- SMG Consultants - Indonesia
- Parliament of New Zealand
- Price Waterhouse Coopers - Russia
- Essar Steel Hazira Ltd - India
- GAC Shipping (India) Pvt Ltd
- Ambuja Cements Ltd - India
- Renaissance Capital - South Africa
- Edison Trading Spa - Italy
- Africa Commodities Group - South Africa
- Makarim & Taira - Indonesia
- VISA Power Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Bhoruka Overseas - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Indian Energy Exchange, India
- Altura Mining Limited, Indonesia
- Eastern Coal Council - USA
- PNOC Exploration Corporation - Philippines
- Cigading International Bulk Terminal - Indonesia
- Gujarat Sidhee Cement - India
- Borneo Indobara - Indonesia
- Uttam Galva Steels Limited - India
- Goldman Sachs - Singapore
- Madhucon Powers Ltd - India
- Chamber of Mines of South Africa
- Global Coal Blending Company Limited - Australia
- Port Waratah Coal Services - Australia
- Eastern Energy - Thailand
- Baramulti Group, Indonesia
- Ceylon Electricity Board - Sri Lanka
- Mercuria Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- Bayan Resources Tbk. - Indonesia
- PowerSource Philippines DevCo
- Kalimantan Lumbung Energi - Indonesia
- Electricity Authority, New Zealand
- Vedanta Resources Plc - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Videocon Industries ltd - India
- Mercator Lines Limited - India
- Coal and Oil Company - UAE
- Leighton Contractors Pty Ltd - Australia
- Aditya Birla Group - India
- The State Trading Corporation of India Ltd
- South Luzon Thermal Energy Corporation
- Kumho Petrochemical, South Korea
- Kepco SPC Power Corporation, Philippines
- Petron Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Rashtriya Ispat Nigam Limited - India
- Billiton Holdings Pty Ltd - Australia
- Ministry of Mines - Canada
- Indika Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Wood Mackenzie - Singapore
- GN Power Mariveles Coal Plant, Philippines
- ASAPP Information Group - India
- Dalmia Cement Bharat India
- ICICI Bank Limited - India
- Straits Asia Resources Limited - Singapore
- Agrawal Coal Company - India
- Alfred C Toepfer International GmbH - Germany
- Indonesian Coal Mining Association
- Sree Jayajothi Cements Limited - India
- CIMB Investment Bank - Malaysia
- Offshore Bulk Terminal Pte Ltd, Singapore
- San Jose City I Power Corp, Philippines
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