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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, 25 January 11
DRY BULK RATES CONTINUED TO TUMBLE LAST WEEK - BRS
With weather-related problems affecting the short-term outlook, and new building deliveries the longer-term picture, dry bulk rates continued to tum ...
Tuesday, 25 January 11
R-POWER TO INVEST $5BN IN INDONESIA - THE TIMES OF INDIA
The Times of India reported that, In what is being seen as one of the largest foreign investments in Indonesia, Reliance Power will infuse $5 billio ...
Monday, 24 January 11
GOVT PROMISES COAL FOR PLN DESPITE PRICE SPIKES - THE JAKARTA POST
The Jakarta Post reported that, the government says state electricity company PT PLN will receive enough coal to fire its power plants, despite pric ...
Monday, 24 January 11
DRY BULK MARKETS DOWNTURN SEES NO RELIEF - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has kept falling for yet another week, with the industry’s benchmark, the Baltic Dry Index (BDI) losing an additional 4.79 ...
Sunday, 23 January 11
THE AVERAGE CHARTER RATE FOR CAPE SIZE VESSELS WAS AT $ 8,859 PD ALMOST CLOSE TO 2008 LOWS - VISTAAR
COALspot.com - The BDI continues to drop and saw a drop of about 5 pct this week closing at 1,370 points. “ In May 2010 the BDI touched ...
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- Videocon Industries ltd - India
- Sree Jayajothi Cements Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bulk Trading Sa - Switzerland
- Medco Energi Mining Internasional
- The Treasury - Australian Government
- IHS Mccloskey Coal Group - USA
- Kohat Cement Company Ltd. - Pakistan
- European Bulk Services B.V. - Netherlands
- Holcim Trading Pte Ltd - Singapore
- Siam City Cement - Thailand
- PTC India Limited - India
- Indo Tambangraya Megah - Indonesia
- Thiess Contractors Indonesia
- White Energy Company Limited
- Bank of Tokyo Mitsubishi UFJ Ltd
- Larsen & Toubro Limited - India
- Eastern Energy - Thailand
- Coal and Oil Company - UAE
- Port Waratah Coal Services - Australia
- Petron Corporation, Philippines
- Energy Link Ltd, New Zealand
- Bukit Baiduri Energy - Indonesia
- Ministry of Mines - Canada
- Vizag Seaport Private Limited - India
- Marubeni Corporation - India
- TNB Fuel Sdn Bhd - Malaysia
- Jaiprakash Power Ventures ltd
- Bhatia International Limited - India
- Sinarmas Energy and Mining - Indonesia
- Makarim & Taira - Indonesia
- Iligan Light & Power Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- GN Power Mariveles Coal Plant, Philippines
- Sakthi Sugars Limited - India
- Siam City Cement PLC, Thailand
- McConnell Dowell - Australia
- Indian Oil Corporation Limited
- Meralco Power Generation, Philippines
- Indonesian Coal Mining Association
- Mintek Dendrill Indonesia
- International Coal Ventures Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Posco Energy - South Korea
- Pendopo Energi Batubara - Indonesia
- Bhushan Steel Limited - India
- Commonwealth Bank - Australia
- Central Electricity Authority - India
- VISA Power Limited - India
- Globalindo Alam Lestari - Indonesia
- GAC Shipping (India) Pvt Ltd
- Power Finance Corporation Ltd., India
- Oldendorff Carriers - Singapore
- Renaissance Capital - South Africa
- San Jose City I Power Corp, Philippines
- Sojitz Corporation - Japan
- Mercuria Energy - Indonesia
- Orica Australia Pty. Ltd.
- IEA Clean Coal Centre - UK
- London Commodity Brokers - England
- Savvy Resources Ltd - HongKong
- Coastal Gujarat Power Limited - India
- The State Trading Corporation of India Ltd
- Vedanta Resources Plc - India
- Parliament of New Zealand
- Mjunction Services Limited - India
- Standard Chartered Bank - UAE
- Georgia Ports Authority, United States
- PNOC Exploration Corporation - Philippines
- Rio Tinto Coal - Australia
- Manunggal Multi Energi - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Coalindo Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Tata Chemicals Ltd - India
- Ambuja Cements Ltd - India
- Ministry of Transport, Egypt
- Edison Trading Spa - Italy
- Simpson Spence & Young - Indonesia
- Orica Mining Services - Indonesia
- Goldman Sachs - Singapore
- Australian Commodity Traders Exchange
- Attock Cement Pakistan Limited
- Barasentosa Lestari - Indonesia
- Global Business Power Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Central Java Power - Indonesia
- Salva Resources Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- ASAPP Information Group - India
- Kartika Selabumi Mining - Indonesia
- Australian Coal Association
- Antam Resourcindo - Indonesia
- Bayan Resources Tbk. - Indonesia
- Uttam Galva Steels Limited - India
- Electricity Generating Authority of Thailand
- Timah Investasi Mineral - Indoneisa
- Price Waterhouse Coopers - Russia
- Latin American Coal - Colombia
- Indika Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Wilmar Investment Holdings
- Tamil Nadu electricity Board
- Toyota Tsusho Corporation, Japan
- CNBM International Corporation - China
- Baramulti Group, Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Madhucon Powers Ltd - India
- Singapore Mercantile Exchange
- Gujarat Electricity Regulatory Commission - India
- Altura Mining Limited, Indonesia
- Intertek Mineral Services - Indonesia
- Banpu Public Company Limited - Thailand
- Rashtriya Ispat Nigam Limited - India
- Kepco SPC Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Maharashtra Electricity Regulatory Commission - India
- Economic Council, Georgia
- ICICI Bank Limited - India
- Interocean Group of Companies - India
- Maheswari Brothers Coal Limited - India
- Meenaskhi Energy Private Limited - India
- Electricity Authority, New Zealand
- Miang Besar Coal Terminal - Indonesia
- Global Coal Blending Company Limited - Australia
- Kaltim Prima Coal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Lanco Infratech Ltd - India
- Samtan Co., Ltd - South Korea
- Independent Power Producers Association of India
- OPG Power Generation Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Riau Bara Harum - Indonesia
- Bharathi Cement Corporation - India
- Jindal Steel & Power Ltd - India
- Planning Commission, India
- Thai Mozambique Logistica
- Star Paper Mills Limited - India
- Billiton Holdings Pty Ltd - Australia
- SMG Consultants - Indonesia
- Merrill Lynch Commodities Europe
- SN Aboitiz Power Inc, Philippines
- Aditya Birla Group - India
- Energy Development Corp, Philippines
- Sical Logistics Limited - India
- Ministry of Finance - Indonesia
- Cement Manufacturers Association - India
- Bhoruka Overseas - Indonesia
- MS Steel International - UAE
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- New Zealand Coal & Carbon
- Formosa Plastics Group - Taiwan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Agrawal Coal Company - India
- Alfred C Toepfer International GmbH - Germany
- Dalmia Cement Bharat India
- PowerSource Philippines DevCo
- Bahari Cakrawala Sebuku - Indonesia
- Chamber of Mines of South Africa
- Cigading International Bulk Terminal - Indonesia
- Essar Steel Hazira Ltd - India
- Africa Commodities Group - South Africa
- Trasteel International SA, Italy
- TeaM Sual Corporation - Philippines
- Aboitiz Power Corporation - Philippines
- Romanian Commodities Exchange
- Ceylon Electricity Board - Sri Lanka
- Semirara Mining and Power Corporation, Philippines
- Bangladesh Power Developement Board
- Gujarat Sidhee Cement - India
- Grasim Industreis Ltd - India
- Ind-Barath Power Infra Limited - India
- CIMB Investment Bank - Malaysia
- Indian Energy Exchange, India
- GMR Energy Limited - India
- Leighton Contractors Pty Ltd - Australia
- Neyveli Lignite Corporation Ltd, - India
- Deloitte Consulting - India
- Bukit Makmur.PT - Indonesia
- Sindya Power Generating Company Private Ltd
- Gujarat Mineral Development Corp Ltd - India
- Anglo American - United Kingdom
- Minerals Council of Australia
- Parry Sugars Refinery, India
- Asmin Koalindo Tuhup - Indonesia
- Kobexindo Tractors - Indoneisa
- Sarangani Energy Corporation, Philippines
- India Bulls Power Limited - India
- Karaikal Port Pvt Ltd - India
- Mercator Lines Limited - India
- Binh Thuan Hamico - Vietnam
- GVK Power & Infra Limited - India
- Heidelberg Cement - Germany
- South Luzon Thermal Energy Corporation
- Carbofer General Trading SA - India
- Global Green Power PLC Corporation, Philippines
- Wood Mackenzie - Singapore
- Semirara Mining Corp, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- The University of Queensland
- Therma Luzon, Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Directorate Of Revenue Intelligence - India
- Kumho Petrochemical, South Korea
- AsiaOL BioFuels Corp., Philippines
- Malabar Cements Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Borneo Indobara - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Chettinad Cement Corporation Ltd - India
- Indogreen Group - Indonesia
- Eastern Coal Council - USA
- Xindia Steels Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- SMC Global Power, Philippines
- Vijayanagar Sugar Pvt Ltd - India
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