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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, 24 February 11
SUPRAS ARE FIXED AT CLOSE TO 10K FOR TRIPS VIA INDONESIA TO INDIA WITH COAL - FEARNBULK
Handy
After a short lived surge in rates the Atlantic market has flattened out due to too many spot vessels. The USGulf has cooled down somewhat f ...
Wednesday, 23 February 11
LIMITED AVAILABILITY OF COAL COULD TRIP MEGA POWER PLANT - THE ECONOMIC TIMES
The Economic Times, an Indian leading news paper reported that, an acute shortage of domestic coal is threatening to destabilize new power generatio ...
Wednesday, 23 February 11
DRY BULK MARKET BACK ON RETREAT MODE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The two week rise of dry bulk freight rates seems to have come to a halt this week, with the industry’s benchmark, the Baltic Dry Index (BDI) lo ...
Wednesday, 23 February 11
INDONESIA NEEDS TO REVISE EXPORT BAN ON 5600 GAD COAL EXPORT - INDUSTRY
COALspot.com - The Indonesian government may be forced to revise its 2014 timeline for the proposed ban on all low quality coal exports, Patrick Han ...
Tuesday, 22 February 11
SUPRAMAX MARKET IS IMPROVING IN THE PACIFIC
BRS - A 10% rise in the BDI this week, mostly on the back of Panamax rates and improvements in the Supramax market in the Pacific. For the Capes, ra ...
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- Madhucon Powers Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Altura Mining Limited, Indonesia
- Parliament of New Zealand
- Singapore Mercantile Exchange
- Mintek Dendrill Indonesia
- Bukit Baiduri Energy - Indonesia
- ICICI Bank Limited - India
- Semirara Mining and Power Corporation, Philippines
- Bhatia International Limited - India
- AsiaOL BioFuels Corp., Philippines
- Gujarat Mineral Development Corp Ltd - India
- Maheswari Brothers Coal Limited - India
- Thiess Contractors Indonesia
- Meenaskhi Energy Private Limited - India
- Dalmia Cement Bharat India
- Pipit Mutiara Jaya. PT, Indonesia
- Wood Mackenzie - Singapore
- Borneo Indobara - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Leighton Contractors Pty Ltd - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Globalindo Alam Lestari - Indonesia
- Australian Coal Association
- Ceylon Electricity Board - Sri Lanka
- PTC India Limited - India
- Kobexindo Tractors - Indoneisa
- Savvy Resources Ltd - HongKong
- IEA Clean Coal Centre - UK
- Rashtriya Ispat Nigam Limited - India
- Grasim Industreis Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Chettinad Cement Corporation Ltd - India
- Kartika Selabumi Mining - Indonesia
- Petron Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Chamber of Mines of South Africa
- Indonesian Coal Mining Association
- Mercuria Energy - Indonesia
- London Commodity Brokers - England
- Siam City Cement - Thailand
- Toyota Tsusho Corporation, Japan
- Heidelberg Cement - Germany
- Bulk Trading Sa - Switzerland
- Marubeni Corporation - India
- Kapuas Tunggal Persada - Indonesia
- Banpu Public Company Limited - Thailand
- Jaiprakash Power Ventures ltd
- Coastal Gujarat Power Limited - India
- San Jose City I Power Corp, Philippines
- Coal and Oil Company - UAE
- Vedanta Resources Plc - India
- Larsen & Toubro Limited - India
- Tata Chemicals Ltd - India
- Barasentosa Lestari - Indonesia
- Timah Investasi Mineral - Indoneisa
- Independent Power Producers Association of India
- Cement Manufacturers Association - India
- Bharathi Cement Corporation - India
- Ind-Barath Power Infra Limited - India
- Sindya Power Generating Company Private Ltd
- Bukit Makmur.PT - Indonesia
- Global Business Power Corporation, Philippines
- The Treasury - Australian Government
- Renaissance Capital - South Africa
- Billiton Holdings Pty Ltd - Australia
- Sree Jayajothi Cements Limited - India
- Videocon Industries ltd - India
- Attock Cement Pakistan Limited
- PNOC Exploration Corporation - Philippines
- GMR Energy Limited - India
- The State Trading Corporation of India Ltd
- The University of Queensland
- Energy Development Corp, Philippines
- Mercator Lines Limited - India
- Wilmar Investment Holdings
- Agrawal Coal Company - India
- Meralco Power Generation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Star Paper Mills Limited - India
- Sinarmas Energy and Mining - Indonesia
- Commonwealth Bank - Australia
- Krishnapatnam Port Company Ltd. - India
- Oldendorff Carriers - Singapore
- Central Electricity Authority - India
- Aboitiz Power Corporation - Philippines
- Bhoruka Overseas - Indonesia
- Parry Sugars Refinery, India
- Eastern Energy - Thailand
- International Coal Ventures Pvt Ltd - India
- Central Java Power - Indonesia
- Thai Mozambique Logistica
- Georgia Ports Authority, United States
- Kalimantan Lumbung Energi - Indonesia
- European Bulk Services B.V. - Netherlands
- GVK Power & Infra Limited - India
- PowerSource Philippines DevCo
- SMC Global Power, Philippines
- Ambuja Cements Ltd - India
- CNBM International Corporation - China
- Indian Energy Exchange, India
- Metalloyd Limited - United Kingdom
- Maharashtra Electricity Regulatory Commission - India
- Jindal Steel & Power Ltd - India
- SMG Consultants - Indonesia
- Indian Oil Corporation Limited
- Directorate Of Revenue Intelligence - India
- Malabar Cements Ltd - India
- Aditya Birla Group - India
- Indika Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- Essar Steel Hazira Ltd - India
- Bangladesh Power Developement Board
- Port Waratah Coal Services - Australia
- Karbindo Abesyapradhi - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- Price Waterhouse Coopers - Russia
- Medco Energi Mining Internasional
- Bank of Tokyo Mitsubishi UFJ Ltd
- New Zealand Coal & Carbon
- Iligan Light & Power Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Antam Resourcindo - Indonesia
- Simpson Spence & Young - Indonesia
- Orica Australia Pty. Ltd.
- MS Steel International - UAE
- Global Coal Blending Company Limited - Australia
- Therma Luzon, Inc, Philippines
- Interocean Group of Companies - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Semirara Mining Corp, Philippines
- Uttam Galva Steels Limited - India
- Sojitz Corporation - Japan
- Anglo American - United Kingdom
- Siam City Cement PLC, Thailand
- Orica Mining Services - Indonesia
- Vizag Seaport Private Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Electricity Generating Authority of Thailand
- Standard Chartered Bank - UAE
- Salva Resources Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Posco Energy - South Korea
- Tamil Nadu electricity Board
- Binh Thuan Hamico - Vietnam
- Ministry of Mines - Canada
- Planning Commission, India
- Merrill Lynch Commodities Europe
- India Bulls Power Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- ASAPP Information Group - India
- Kaltim Prima Coal - Indonesia
- Indogreen Group - Indonesia
- Makarim & Taira - Indonesia
- Ministry of Finance - Indonesia
- Carbofer General Trading SA - India
- Riau Bara Harum - Indonesia
- Latin American Coal - Colombia
- Sarangani Energy Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- SN Aboitiz Power Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- McConnell Dowell - Australia
- LBH Netherlands Bv - Netherlands
- Pendopo Energi Batubara - Indonesia
- Rio Tinto Coal - Australia
- Africa Commodities Group - South Africa
- Xindia Steels Limited - India
- CIMB Investment Bank - Malaysia
- South Luzon Thermal Energy Corporation
- Australian Commodity Traders Exchange
- Kepco SPC Power Corporation, Philippines
- Mjunction Services Limited - India
- Economic Council, Georgia
- Romanian Commodities Exchange
- Lanco Infratech Ltd - India
- Sical Logistics Limited - India
- Karaikal Port Pvt Ltd - India
- Bhushan Steel Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Indo Tambangraya Megah - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Energy Link Ltd, New Zealand
- Goldman Sachs - Singapore
- Intertek Mineral Services - Indonesia
- Baramulti Group, Indonesia
- Samtan Co., Ltd - South Korea
- Neyveli Lignite Corporation Ltd, - India
- TeaM Sual Corporation - Philippines
- Gujarat Sidhee Cement - India
- Trasteel International SA, Italy
- Deloitte Consulting - India
- Ministry of Transport, Egypt
- Straits Asia Resources Limited - Singapore
- Sakthi Sugars Limited - India
- IHS Mccloskey Coal Group - USA
- Electricity Authority, New Zealand
- Bahari Cakrawala Sebuku - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- VISA Power Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Minerals Council of Australia
- Formosa Plastics Group - Taiwan
- Asmin Koalindo Tuhup - Indonesia
- Coalindo Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Miang Besar Coal Terminal - Indonesia
- Kumho Petrochemical, South Korea
- Edison Trading Spa - Italy
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Power Finance Corporation Ltd., India
- White Energy Company Limited
- Bukit Asam (Persero) Tbk - Indonesia
- Eastern Coal Council - USA
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