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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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Saturday, 25 September 10
PRESSURE ON S6 AND S7 ROUTES SEEMS TO BE CONTINUED NEXT WEEK CAPT. REDDY
COALspot.com: The freight market has been flat this week due to holidays in China and low activity saw all sectors down and soft.
The BDI was dow ...
Thursday, 23 September 10
CHURCHILL MINING SHARES JUMP ON EAST KUTAI COAL PROJECT FEASIBILITY RESULTS - STOCKOPEDIA
AIM listed mining group Churchill Mining (LON:CHL) and its Indonesian partners the Ridlatama Group, have completed a feasibility study on the 2.73bn ...
Thursday, 23 September 10
DRY BULK RATES EXPECTEDLY FALL TO ONE MONTH LOWS - HELLENIC SHIPPING
With of the Far East trade routes closed this week on various national holidays, demand for ocean transportation of raw materials has been significa ...
Wednesday, 22 September 10
INDIA TO BE BIGGEST BUYER OF INDONESIAN COAL BY 2011 - BUSINESS STANDARD
India will pass Japan to be the biggest buyer of Indonesian coal by 2011, said Bob Kamandanu, chairman of the Indonesian Coal Mining Association.
...
Wednesday, 22 September 10
DRY BULK MARKET SENTIMENT TURNS SOUTH AS IRON ORE DEMAND DECLINES
The dry bulk market has once again turned the tide, with the industry’s benchmark, the Baltic Dry Index (BDI) turning south during the previou ...
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- Grasim Industreis Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Malabar Cements Ltd - India
- Orica Mining Services - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- ICICI Bank Limited - India
- Chettinad Cement Corporation Ltd - India
- PowerSource Philippines DevCo
- Meralco Power Generation, Philippines
- Agrawal Coal Company - India
- Bharathi Cement Corporation - India
- Vijayanagar Sugar Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Australian Commodity Traders Exchange
- Semirara Mining Corp, Philippines
- Coastal Gujarat Power Limited - India
- Aboitiz Power Corporation - Philippines
- Energy Link Ltd, New Zealand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mintek Dendrill Indonesia
- Cigading International Bulk Terminal - Indonesia
- Jaiprakash Power Ventures ltd
- Holcim Trading Pte Ltd - Singapore
- Kartika Selabumi Mining - Indonesia
- Anglo American - United Kingdom
- Central Java Power - Indonesia
- Barasentosa Lestari - Indonesia
- Sakthi Sugars Limited - India
- Videocon Industries ltd - India
- Kumho Petrochemical, South Korea
- Indonesian Coal Mining Association
- Sarangani Energy Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Global Business Power Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Siam City Cement PLC, Thailand
- IHS Mccloskey Coal Group - USA
- Planning Commission, India
- Savvy Resources Ltd - HongKong
- Timah Investasi Mineral - Indoneisa
- TNB Fuel Sdn Bhd - Malaysia
- Karaikal Port Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Australian Coal Association
- Ministry of Transport, Egypt
- Siam City Cement - Thailand
- Alfred C Toepfer International GmbH - Germany
- The State Trading Corporation of India Ltd
- Rio Tinto Coal - Australia
- Ambuja Cements Ltd - India
- Mercator Lines Limited - India
- Ministry of Mines - Canada
- Sinarmas Energy and Mining - Indonesia
- Ministry of Finance - Indonesia
- Indian Oil Corporation Limited
- Parry Sugars Refinery, India
- Samtan Co., Ltd - South Korea
- AsiaOL BioFuels Corp., Philippines
- Mercuria Energy - Indonesia
- Larsen & Toubro Limited - India
- Makarim & Taira - Indonesia
- European Bulk Services B.V. - Netherlands
- Uttam Galva Steels Limited - India
- SMC Global Power, Philippines
- Edison Trading Spa - Italy
- Central Electricity Authority - India
- Bulk Trading Sa - Switzerland
- Bayan Resources Tbk. - Indonesia
- Goldman Sachs - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Commonwealth Bank - Australia
- IEA Clean Coal Centre - UK
- Power Finance Corporation Ltd., India
- Madhucon Powers Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Thai Mozambique Logistica
- Vizag Seaport Private Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bhatia International Limited - India
- Africa Commodities Group - South Africa
- Manunggal Multi Energi - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Port Waratah Coal Services - Australia
- Altura Mining Limited, Indonesia
- Standard Chartered Bank - UAE
- Pipit Mutiara Jaya. PT, Indonesia
- Essar Steel Hazira Ltd - India
- Tata Chemicals Ltd - India
- Georgia Ports Authority, United States
- Leighton Contractors Pty Ltd - Australia
- Sical Logistics Limited - India
- SN Aboitiz Power Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Latin American Coal - Colombia
- Wilmar Investment Holdings
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- International Coal Ventures Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Binh Thuan Hamico - Vietnam
- Mjunction Services Limited - India
- Intertek Mineral Services - Indonesia
- Parliament of New Zealand
- Posco Energy - South Korea
- Banpu Public Company Limited - Thailand
- Kaltim Prima Coal - Indonesia
- Indogreen Group - Indonesia
- CIMB Investment Bank - Malaysia
- Bukit Baiduri Energy - Indonesia
- SMG Consultants - Indonesia
- New Zealand Coal & Carbon
- Trasteel International SA, Italy
- Electricity Generating Authority of Thailand
- Rashtriya Ispat Nigam Limited - India
- Coalindo Energy - Indonesia
- Cement Manufacturers Association - India
- Kapuas Tunggal Persada - Indonesia
- Energy Development Corp, Philippines
- Deloitte Consulting - India
- Jindal Steel & Power Ltd - India
- Kepco SPC Power Corporation, Philippines
- Attock Cement Pakistan Limited
- Interocean Group of Companies - India
- Price Waterhouse Coopers - Russia
- Pendopo Energi Batubara - Indonesia
- Electricity Authority, New Zealand
- Indika Energy - Indonesia
- Renaissance Capital - South Africa
- Simpson Spence & Young - Indonesia
- Bhoruka Overseas - Indonesia
- Thiess Contractors Indonesia
- Aditya Birla Group - India
- Merrill Lynch Commodities Europe
- MS Steel International - UAE
- PTC India Limited - India
- Globalindo Alam Lestari - Indonesia
- Kideco Jaya Agung - Indonesia
- Dalmia Cement Bharat India
- Petron Corporation, Philippines
- Bangladesh Power Developement Board
- Independent Power Producers Association of India
- Kalimantan Lumbung Energi - Indonesia
- Star Paper Mills Limited - India
- Iligan Light & Power Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Bukit Makmur.PT - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Romanian Commodities Exchange
- Sree Jayajothi Cements Limited - India
- Indian Energy Exchange, India
- Baramulti Group, Indonesia
- Eastern Energy - Thailand
- Xindia Steels Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Toyota Tsusho Corporation, Japan
- Bhushan Steel Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Eastern Coal Council - USA
- Kohat Cement Company Ltd. - Pakistan
- Directorate General of MIneral and Coal - Indonesia
- McConnell Dowell - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- VISA Power Limited - India
- GVK Power & Infra Limited - India
- Maheswari Brothers Coal Limited - India
- Directorate Of Revenue Intelligence - India
- Formosa Plastics Group - Taiwan
- The University of Queensland
- PNOC Exploration Corporation - Philippines
- Sojitz Corporation - Japan
- Sindya Power Generating Company Private Ltd
- Neyveli Lignite Corporation Ltd, - India
- Singapore Mercantile Exchange
- CNBM International Corporation - China
- Minerals Council of Australia
- San Jose City I Power Corp, Philippines
- Borneo Indobara - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- India Bulls Power Limited - India
- Economic Council, Georgia
- TeaM Sual Corporation - Philippines
- London Commodity Brokers - England
- Coal and Oil Company - UAE
- Petrochimia International Co. Ltd.- Taiwan
- Antam Resourcindo - Indonesia
- Ind-Barath Power Infra Limited - India
- The Treasury - Australian Government
- Asmin Koalindo Tuhup - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Wood Mackenzie - Singapore
- Global Green Power PLC Corporation, Philippines
- Gujarat Sidhee Cement - India
- White Energy Company Limited
- Meenaskhi Energy Private Limited - India
- Marubeni Corporation - India
- Global Coal Blending Company Limited - Australia
- GMR Energy Limited - India
- Krishnapatnam Port Company Ltd. - India
- Metalloyd Limited - United Kingdom
- Salva Resources Pvt Ltd - India
- Lanco Infratech Ltd - India
- Carbofer General Trading SA - India
- Indo Tambangraya Megah - Indonesia
- Straits Asia Resources Limited - Singapore
- ASAPP Information Group - India
- South Luzon Thermal Energy Corporation
- Medco Energi Mining Internasional
- Oldendorff Carriers - Singapore
- Chamber of Mines of South Africa
- Riau Bara Harum - Indonesia
- OPG Power Generation Pvt Ltd - India
- Tamil Nadu electricity Board
- Therma Luzon, Inc, Philippines
- Heidelberg Cement - Germany
- Vedanta Resources Plc - India
- Semirara Mining and Power Corporation, Philippines
- Orica Australia Pty. Ltd.
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