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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, 08 July 10
DRY BULK MARKET STILL PLUNGING, NOW STANDING AT 14 MONTH LOWS
The dry bulk shipping market’s demise isn’t over yet, as the industry’s main benchmark, the Baltic Dry Index (BDI) has been on a f ...
Wednesday, 07 July 10
MACQUARIE SEES CHINA COMMODITIES PRICE FALLS AND CUTBACKS AHEAD - MINEWEB
MineWeb reported that, The research arm of Australia's Macquarie Bank - one of the most reliable of China watchers - in its latest briefing on Chin ...
Wednesday, 07 July 10
COAL PRICES ON THE RISE
Caixin online reported that, China's domestic coal prices have seen a 26.2 percent year-on-year rise in May. Meanwhile, the volume of coal im ...
Tuesday, 06 July 10
INCREASE IN DRY BULK SPOT FIXTURES UNABLE TO BOOST RATES, LOSING STREAK CONTINUES
Yet another week began on a negative note for the dry bulk shipping market, with the Baltic Dry Index posting its 28th straight losing daily session ...
Tuesday, 06 July 10
KEPCO, POSCO BUY AUSTRALIAN COAL MINES - CHOSUN
Chosun reported that, Electricity monopoly KEPCO and steelmaker POSCO have both bought coal mines in Australia.
KEPCO signed a 400 million Austra ...
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- Grasim Industreis Ltd - India
- Jaiprakash Power Ventures ltd
- CIMB Investment Bank - Malaysia
- Electricity Authority, New Zealand
- Manunggal Multi Energi - Indonesia
- Maheswari Brothers Coal Limited - India
- Mercator Lines Limited - India
- CNBM International Corporation - China
- Ministry of Finance - Indonesia
- Ambuja Cements Ltd - India
- Bhatia International Limited - India
- Latin American Coal - Colombia
- Savvy Resources Ltd - HongKong
- Deloitte Consulting - India
- GVK Power & Infra Limited - India
- Coalindo Energy - Indonesia
- Larsen & Toubro Limited - India
- The State Trading Corporation of India Ltd
- Interocean Group of Companies - India
- Wilmar Investment Holdings
- Aditya Birla Group - India
- Standard Chartered Bank - UAE
- Cigading International Bulk Terminal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- MS Steel International - UAE
- TNB Fuel Sdn Bhd - Malaysia
- Therma Luzon, Inc, Philippines
- Cement Manufacturers Association - India
- Sinarmas Energy and Mining - Indonesia
- Binh Thuan Hamico - Vietnam
- Riau Bara Harum - Indonesia
- Mercuria Energy - Indonesia
- The University of Queensland
- Siam City Cement - Thailand
- McConnell Dowell - Australia
- Energy Development Corp, Philippines
- Samtan Co., Ltd - South Korea
- Indonesian Coal Mining Association
- Metalloyd Limited - United Kingdom
- Dalmia Cement Bharat India
- Jindal Steel & Power Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Lanco Infratech Ltd - India
- Mintek Dendrill Indonesia
- Energy Link Ltd, New Zealand
- Sojitz Corporation - Japan
- Independent Power Producers Association of India
- Agrawal Coal Company - India
- Bukit Makmur.PT - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Goldman Sachs - Singapore
- Sical Logistics Limited - India
- Banpu Public Company Limited - Thailand
- Marubeni Corporation - India
- Bukit Baiduri Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Bhoruka Overseas - Indonesia
- South Luzon Thermal Energy Corporation
- Attock Cement Pakistan Limited
- Planning Commission, India
- Port Waratah Coal Services - Australia
- Semirara Mining and Power Corporation, Philippines
- Bangladesh Power Developement Board
- Minerals Council of Australia
- SMG Consultants - Indonesia
- Bhushan Steel Limited - India
- Carbofer General Trading SA - India
- Medco Energi Mining Internasional
- Price Waterhouse Coopers - Russia
- The Treasury - Australian Government
- Leighton Contractors Pty Ltd - Australia
- IHS Mccloskey Coal Group - USA
- Singapore Mercantile Exchange
- GMR Energy Limited - India
- Vedanta Resources Plc - India
- Eastern Coal Council - USA
- SN Aboitiz Power Inc, Philippines
- Indian Energy Exchange, India
- IEA Clean Coal Centre - UK
- Pendopo Energi Batubara - Indonesia
- PNOC Exploration Corporation - Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Thiess Contractors Indonesia
- Bulk Trading Sa - Switzerland
- Toyota Tsusho Corporation, Japan
- Gujarat Sidhee Cement - India
- Neyveli Lignite Corporation Ltd, - India
- Vizag Seaport Private Limited - India
- Salva Resources Pvt Ltd - India
- Xindia Steels Limited - India
- Economic Council, Georgia
- Ministry of Transport, Egypt
- Ceylon Electricity Board - Sri Lanka
- Global Coal Blending Company Limited - Australia
- Aboitiz Power Corporation - Philippines
- Chettinad Cement Corporation Ltd - India
- Power Finance Corporation Ltd., India
- Tamil Nadu electricity Board
- Holcim Trading Pte Ltd - Singapore
- Chamber of Mines of South Africa
- ASAPP Information Group - India
- Miang Besar Coal Terminal - Indonesia
- Sindya Power Generating Company Private Ltd
- International Coal Ventures Pvt Ltd - India
- Thai Mozambique Logistica
- Essar Steel Hazira Ltd - India
- Mjunction Services Limited - India
- Rio Tinto Coal - Australia
- Makarim & Taira - Indonesia
- Formosa Plastics Group - Taiwan
- Eastern Energy - Thailand
- Australian Commodity Traders Exchange
- Pipit Mutiara Jaya. PT, Indonesia
- Directorate General of MIneral and Coal - Indonesia
- SMC Global Power, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Edison Trading Spa - Italy
- Krishnapatnam Port Company Ltd. - India
- Posco Energy - South Korea
- Merrill Lynch Commodities Europe
- Heidelberg Cement - Germany
- Vijayanagar Sugar Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Globalindo Alam Lestari - Indonesia
- Indian Oil Corporation Limited
- Malabar Cements Ltd - India
- Altura Mining Limited, Indonesia
- Directorate Of Revenue Intelligence - India
- Ind-Barath Power Infra Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Uttam Galva Steels Limited - India
- Kepco SPC Power Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Indogreen Group - Indonesia
- Madhucon Powers Ltd - India
- San Jose City I Power Corp, Philippines
- TeaM Sual Corporation - Philippines
- Central Electricity Authority - India
- London Commodity Brokers - England
- Australian Coal Association
- Electricity Generating Authority of Thailand
- Meenaskhi Energy Private Limited - India
- Straits Asia Resources Limited - Singapore
- Africa Commodities Group - South Africa
- Oldendorff Carriers - Singapore
- Alfred C Toepfer International GmbH - Germany
- Renaissance Capital - South Africa
- Coal and Oil Company - UAE
- Sarangani Energy Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Bank of Tokyo Mitsubishi UFJ Ltd
- Maharashtra Electricity Regulatory Commission - India
- PowerSource Philippines DevCo
- Baramulti Group, Indonesia
- White Energy Company Limited
- Romanian Commodities Exchange
- Trasteel International SA, Italy
- GAC Shipping (India) Pvt Ltd
- Kartika Selabumi Mining - Indonesia
- Georgia Ports Authority, United States
- Coastal Gujarat Power Limited - India
- Antam Resourcindo - Indonesia
- ICICI Bank Limited - India
- PTC India Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- OPG Power Generation Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Tata Chemicals Ltd - India
- Kumho Petrochemical, South Korea
- Indo Tambangraya Megah - Indonesia
- Star Paper Mills Limited - India
- Bayan Resources Tbk. - Indonesia
- Global Business Power Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Iligan Light & Power Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kaltim Prima Coal - Indonesia
- European Bulk Services B.V. - Netherlands
- Parliament of New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- PetroVietnam Power Coal Import and Supply Company
- Commonwealth Bank - Australia
- Global Green Power PLC Corporation, Philippines
- Siam City Cement PLC, Thailand
- Timah Investasi Mineral - Indoneisa
- Billiton Holdings Pty Ltd - Australia
- VISA Power Limited - India
- Petron Corporation, Philippines
- Central Java Power - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Ministry of Mines - Canada
- Barasentosa Lestari - Indonesia
- Orica Mining Services - Indonesia
- Meralco Power Generation, Philippines
- New Zealand Coal & Carbon
- Indika Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Borneo Indobara - Indonesia
- Semirara Mining Corp, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Sree Jayajothi Cements Limited - India
- India Bulls Power Limited - India
- Karaikal Port Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Parry Sugars Refinery, India
- Kobexindo Tractors - Indoneisa
- Bharathi Cement Corporation - India
- AsiaOL BioFuels Corp., Philippines
- Sakthi Sugars Limited - India
- Anglo American - United Kingdom
- Wood Mackenzie - Singapore
- Intertek Mineral Services - Indonesia
- Videocon Industries ltd - India
- Asmin Koalindo Tuhup - Indonesia
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