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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, 09 December 10
DRY BULK MARKET LOOKING FOR DIRECTION THIS WEEK, AS CAPESIZE SHIPS END THEIR MISFORTUNES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk has began the week on a positive note capitalizing on the positive sentiment which finally prevailed during the last days of the previo ...
Monday, 06 December 10
NTPC MAY OPT FOR INDONESIA OVER AFRICA, OZ FOR COAL MINES
Country's largest power producer NTPC, which is scouting for coal properties abroad to fuel its power plants back home, may zero in on Indonesia fo ...
Saturday, 04 December 10
INDONESIA TO INDIA AND CHINA SEA FREIGHT UP BY ABOUT US$ 2.50 PMT - CAPT. REDDY
COALspot.com - The freight market even though remained weak, but towards end of the week the market seemed to firm up.
The BDI was almost at sam ...
Saturday, 04 December 10
OFF WEST COAST OF INDIA TONNAGE IS SEEMINGLY QUITE SPARSE - FEARNBULK
Handy
The Atlantic markets are weak and remained unusually calm after the Thanksgiving ...
Friday, 03 December 10
INDONESIAN LOW RANK COAL IS ATTRACTING COAL BUYERS FROM INDIA AND CHINA
COALspot.com - Bhakti Energi Persada has sold out its whole coal production until the end of 2011, Jeffry Mulyono said during McCloskey Asia P ...
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- Directorate Of Revenue Intelligence - India
- Deloitte Consulting - India
- Bukit Baiduri Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Goldman Sachs - Singapore
- Indo Tambangraya Megah - Indonesia
- Ambuja Cements Ltd - India
- Kobexindo Tractors - Indoneisa
- Coal and Oil Company - UAE
- Madhucon Powers Ltd - India
- Global Coal Blending Company Limited - Australia
- Samtan Co., Ltd - South Korea
- Sindya Power Generating Company Private Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Marubeni Corporation - India
- ASAPP Information Group - India
- Global Green Power PLC Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Coastal Gujarat Power Limited - India
- European Bulk Services B.V. - Netherlands
- Minerals Council of Australia
- Thai Mozambique Logistica
- SMG Consultants - Indonesia
- Merrill Lynch Commodities Europe
- Offshore Bulk Terminal Pte Ltd, Singapore
- Xindia Steels Limited - India
- Heidelberg Cement - Germany
- London Commodity Brokers - England
- Asia Pacific Energy Resources Ventures Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Parry Sugars Refinery, India
- PNOC Exploration Corporation - Philippines
- Oldendorff Carriers - Singapore
- MS Steel International - UAE
- Medco Energi Mining Internasional
- Manunggal Multi Energi - Indonesia
- Ministry of Mines - Canada
- Ceylon Electricity Board - Sri Lanka
- Semirara Mining and Power Corporation, Philippines
- Ministry of Finance - Indonesia
- Australian Commodity Traders Exchange
- PetroVietnam Power Coal Import and Supply Company
- Pipit Mutiara Jaya. PT, Indonesia
- CIMB Investment Bank - Malaysia
- Orica Australia Pty. Ltd.
- Toyota Tsusho Corporation, Japan
- Holcim Trading Pte Ltd - Singapore
- Alfred C Toepfer International GmbH - Germany
- Gujarat Sidhee Cement - India
- Economic Council, Georgia
- Vizag Seaport Private Limited - India
- Power Finance Corporation Ltd., India
- Karaikal Port Pvt Ltd - India
- Sical Logistics Limited - India
- Kartika Selabumi Mining - Indonesia
- Borneo Indobara - Indonesia
- Agrawal Coal Company - India
- Gujarat Electricity Regulatory Commission - India
- Bhoruka Overseas - Indonesia
- South Luzon Thermal Energy Corporation
- Bulk Trading Sa - Switzerland
- The University of Queensland
- Anglo American - United Kingdom
- McConnell Dowell - Australia
- Bayan Resources Tbk. - Indonesia
- Chettinad Cement Corporation Ltd - India
- Carbofer General Trading SA - India
- Sree Jayajothi Cements Limited - India
- SMC Global Power, Philippines
- Bhushan Steel Limited - India
- Tamil Nadu electricity Board
- Singapore Mercantile Exchange
- Georgia Ports Authority, United States
- International Coal Ventures Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Indonesian Coal Mining Association
- Port Waratah Coal Services - Australia
- Attock Cement Pakistan Limited
- New Zealand Coal & Carbon
- Petrochimia International Co. Ltd.- Taiwan
- Electricity Authority, New Zealand
- Commonwealth Bank - Australia
- Electricity Generating Authority of Thailand
- Karbindo Abesyapradhi - Indoneisa
- Cement Manufacturers Association - India
- Africa Commodities Group - South Africa
- Price Waterhouse Coopers - Russia
- Semirara Mining Corp, Philippines
- Chamber of Mines of South Africa
- Kumho Petrochemical, South Korea
- Australian Coal Association
- Kepco SPC Power Corporation, Philippines
- Mjunction Services Limited - India
- Ind-Barath Power Infra Limited - India
- Videocon Industries ltd - India
- Coalindo Energy - Indonesia
- TeaM Sual Corporation - Philippines
- San Jose City I Power Corp, Philippines
- Maheswari Brothers Coal Limited - India
- Indian Oil Corporation Limited
- White Energy Company Limited
- Energy Link Ltd, New Zealand
- Sarangani Energy Corporation, Philippines
- Intertek Mineral Services - Indonesia
- IHS Mccloskey Coal Group - USA
- Kohat Cement Company Ltd. - Pakistan
- Dalmia Cement Bharat India
- Central Java Power - Indonesia
- Vedanta Resources Plc - India
- Orica Mining Services - Indonesia
- Parliament of New Zealand
- Thiess Contractors Indonesia
- Indian Energy Exchange, India
- Siam City Cement - Thailand
- Mintek Dendrill Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Simpson Spence & Young - Indonesia
- ICICI Bank Limited - India
- Iligan Light & Power Inc, Philippines
- IEA Clean Coal Centre - UK
- Bangladesh Power Developement Board
- Petron Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Meenaskhi Energy Private Limited - India
- Kapuas Tunggal Persada - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Malabar Cements Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Latin American Coal - Colombia
- Cigading International Bulk Terminal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Standard Chartered Bank - UAE
- CNBM International Corporation - China
- Central Electricity Authority - India
- Miang Besar Coal Terminal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kalimantan Lumbung Energi - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Riau Bara Harum - Indonesia
- Wood Mackenzie - Singapore
- The Treasury - Australian Government
- Pendopo Energi Batubara - Indonesia
- Larsen & Toubro Limited - India
- Bhatia International Limited - India
- Interocean Group of Companies - India
- Bharathi Cement Corporation - India
- Kideco Jaya Agung - Indonesia
- Altura Mining Limited, Indonesia
- Eastern Coal Council - USA
- Uttam Galva Steels Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Trasteel International SA, Italy
- Timah Investasi Mineral - Indoneisa
- Independent Power Producers Association of India
- Neyveli Lignite Corporation Ltd, - India
- VISA Power Limited - India
- Sakthi Sugars Limited - India
- Aboitiz Power Corporation - Philippines
- GMR Energy Limited - India
- Globalindo Alam Lestari - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Jindal Steel & Power Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Star Paper Mills Limited - India
- Tata Chemicals Ltd - India
- Ministry of Transport, Egypt
- Wilmar Investment Holdings
- Sojitz Corporation - Japan
- Lanco Infratech Ltd - India
- Meralco Power Generation, Philippines
- Renaissance Capital - South Africa
- Makarim & Taira - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Posco Energy - South Korea
- Eastern Energy - Thailand
- Grasim Industreis Ltd - India
- Energy Development Corp, Philippines
- India Bulls Power Limited - India
- GVK Power & Infra Limited - India
- Savvy Resources Ltd - HongKong
- Binh Thuan Hamico - Vietnam
- Bukit Makmur.PT - Indonesia
- Barasentosa Lestari - Indonesia
- Baramulti Group, Indonesia
- Mercator Lines Limited - India
- Rio Tinto Coal - Australia
- Asmin Koalindo Tuhup - Indonesia
- Indika Energy - Indonesia
- Planning Commission, India
- Romanian Commodities Exchange
- Indogreen Group - Indonesia
- PowerSource Philippines DevCo
- Kaltim Prima Coal - Indonesia
- Aditya Birla Group - India
- Rashtriya Ispat Nigam Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Antam Resourcindo - Indonesia
- Formosa Plastics Group - Taiwan
- Edison Trading Spa - Italy
- Mercuria Energy - Indonesia
- Siam City Cement PLC, Thailand
- Straits Asia Resources Limited - Singapore
- SN Aboitiz Power Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Therma Luzon, Inc, Philippines
- The State Trading Corporation of India Ltd
- Global Business Power Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Salva Resources Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- PTC India Limited - India
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