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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, 15 May 10
THE AVERAGE CHARTER HIRE FOR CAPE REACHES US$ 49,931 PER DAY - VISTAAR SINGAPORE
COALspot.com: "The freight market was extremely buoyant this week with BDI almost up by 9 pct and the market was very firm in Feast/SE Asia sec ...
Saturday, 15 May 10
DRY BULK MARKET POSTS HEALTHY WEEKLY GAINS
The dry bulk market has reached new highs this week, the second consecutive solid one, with the industry’s benchmark, the Baltic Dry Index (BD ...
Friday, 14 May 10
JSW BUYS COAL MINES IN US, PRODUCTION STARTS IN SEPT
JSW Steel on Friday said it has completed $100 million acquisition of coking coal assets in the US and will start production from September to parti ...
Friday, 14 May 10
KANGAROO RESOURCES TO ACQUIRE INDONESIAN COAL PROJECTS - PROACTIVE INVESTORS
Proactive Investors reported that, Kangaroo Resources (ASX: KRL) is preparing to complete the acquisition of its five outstanding Indonesian coal pr ...
Thursday, 13 May 10
CHINA CONCERNS TO TEST RAW MINERALS - THE AUSTRALIAN
The Australian reported that, COMMODITY prices will remain volatile and drop from recent highs as China's appetite for raw materials softens. James ...
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- Bukit Makmur.PT - Indonesia
- Romanian Commodities Exchange
- Salva Resources Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Ceylon Electricity Board - Sri Lanka
- Kideco Jaya Agung - Indonesia
- Chettinad Cement Corporation Ltd - India
- Kobexindo Tractors - Indoneisa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Maheswari Brothers Coal Limited - India
- Economic Council, Georgia
- Indian Oil Corporation Limited
- Manunggal Multi Energi - Indonesia
- LBH Netherlands Bv - Netherlands
- Rio Tinto Coal - Australia
- Karaikal Port Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Kepco SPC Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Standard Chartered Bank - UAE
- CIMB Investment Bank - Malaysia
- Attock Cement Pakistan Limited
- Toyota Tsusho Corporation, Japan
- Energy Development Corp, Philippines
- Bhatia International Limited - India
- Vedanta Resources Plc - India
- Bayan Resources Tbk. - Indonesia
- Ministry of Transport, Egypt
- Videocon Industries ltd - India
- TeaM Sual Corporation - Philippines
- San Jose City I Power Corp, Philippines
- Petron Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Bulk Trading Sa - Switzerland
- Edison Trading Spa - Italy
- Bukit Baiduri Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Jaiprakash Power Ventures ltd
- AsiaOL BioFuels Corp., Philippines
- Therma Luzon, Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Kaltim Prima Coal - Indonesia
- Madhucon Powers Ltd - India
- Siam City Cement PLC, Thailand
- Simpson Spence & Young - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Kumho Petrochemical, South Korea
- MS Steel International - UAE
- Global Coal Blending Company Limited - Australia
- Globalindo Alam Lestari - Indonesia
- Siam City Cement - Thailand
- Coastal Gujarat Power Limited - India
- PNOC Exploration Corporation - Philippines
- Wilmar Investment Holdings
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vizag Seaport Private Limited - India
- Metalloyd Limited - United Kingdom
- Jindal Steel & Power Ltd - India
- Aboitiz Power Corporation - Philippines
- GVK Power & Infra Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Formosa Plastics Group - Taiwan
- Agrawal Coal Company - India
- Deloitte Consulting - India
- Thiess Contractors Indonesia
- Carbofer General Trading SA - India
- Sakthi Sugars Limited - India
- SMC Global Power, Philippines
- Intertek Mineral Services - Indonesia
- Price Waterhouse Coopers - Russia
- VISA Power Limited - India
- Wood Mackenzie - Singapore
- Pendopo Energi Batubara - Indonesia
- Trasteel International SA, Italy
- Lanco Infratech Ltd - India
- Merrill Lynch Commodities Europe
- Riau Bara Harum - Indonesia
- Georgia Ports Authority, United States
- GN Power Mariveles Coal Plant, Philippines
- IEA Clean Coal Centre - UK
- ASAPP Information Group - India
- Thai Mozambique Logistica
- Anglo American - United Kingdom
- Petrochimia International Co. Ltd.- Taiwan
- Malabar Cements Ltd - India
- Africa Commodities Group - South Africa
- Interocean Group of Companies - India
- Medco Energi Mining Internasional
- Mintek Dendrill Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ambuja Cements Ltd - India
- Larsen & Toubro Limited - India
- Directorate General of MIneral and Coal - Indonesia
- GMR Energy Limited - India
- OPG Power Generation Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Baramulti Group, Indonesia
- Indo Tambangraya Megah - Indonesia
- Bangladesh Power Developement Board
- Bhushan Steel Limited - India
- McConnell Dowell - Australia
- Parry Sugars Refinery, India
- Straits Asia Resources Limited - Singapore
- CNBM International Corporation - China
- Altura Mining Limited, Indonesia
- Oldendorff Carriers - Singapore
- Bharathi Cement Corporation - India
- Sinarmas Energy and Mining - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Marubeni Corporation - India
- Indian Energy Exchange, India
- Directorate Of Revenue Intelligence - India
- Borneo Indobara - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Gujarat Mineral Development Corp Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Mercuria Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Posco Energy - South Korea
- IHS Mccloskey Coal Group - USA
- SN Aboitiz Power Inc, Philippines
- Electricity Generating Authority of Thailand
- Grasim Industreis Ltd - India
- The State Trading Corporation of India Ltd
- Australian Commodity Traders Exchange
- Bukit Asam (Persero) Tbk - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Chamber of Mines of South Africa
- Ministry of Mines - Canada
- Commonwealth Bank - Australia
- Indonesian Coal Mining Association
- Parliament of New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Energy Link Ltd, New Zealand
- Central Java Power - Indonesia
- The University of Queensland
- Savvy Resources Ltd - HongKong
- New Zealand Coal & Carbon
- Tamil Nadu electricity Board
- South Luzon Thermal Energy Corporation
- Latin American Coal - Colombia
- Krishnapatnam Port Company Ltd. - India
- Essar Steel Hazira Ltd - India
- Antam Resourcindo - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Alfred C Toepfer International GmbH - Germany
- Cement Manufacturers Association - India
- Semirara Mining Corp, Philippines
- PTC India Limited - India
- Rashtriya Ispat Nigam Limited - India
- Orica Australia Pty. Ltd.
- SMG Consultants - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Xindia Steels Limited - India
- Indika Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- International Coal Ventures Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- PowerSource Philippines DevCo
- Mercator Lines Limited - India
- Goldman Sachs - Singapore
- Samtan Co., Ltd - South Korea
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Billiton Holdings Pty Ltd - Australia
- Sical Logistics Limited - India
- Heidelberg Cement - Germany
- Planning Commission, India
- Independent Power Producers Association of India
- TNB Fuel Sdn Bhd - Malaysia
- Global Business Power Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Tata Chemicals Ltd - India
- London Commodity Brokers - England
- Dalmia Cement Bharat India
- PetroVietnam Power Coal Import and Supply Company
- Sojitz Corporation - Japan
- ICICI Bank Limited - India
- Uttam Galva Steels Limited - India
- Eastern Coal Council - USA
- Orica Mining Services - Indonesia
- Ministry of Finance - Indonesia
- Sindya Power Generating Company Private Ltd
- Mjunction Services Limited - India
- Indogreen Group - Indonesia
- India Bulls Power Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Aditya Birla Group - India
- Binh Thuan Hamico - Vietnam
- Coalindo Energy - Indonesia
- The Treasury - Australian Government
- Ind-Barath Power Infra Limited - India
- Makarim & Taira - Indonesia
- Banpu Public Company Limited - Thailand
- Renaissance Capital - South Africa
- Gujarat Sidhee Cement - India
- Singapore Mercantile Exchange
- Australian Coal Association
- Global Green Power PLC Corporation, Philippines
- White Energy Company Limited
- Sree Jayajothi Cements Limited - India
- Minerals Council of Australia
- Eastern Energy - Thailand
- Star Paper Mills Limited - India
- Timah Investasi Mineral - Indoneisa
- Electricity Authority, New Zealand
- Coal and Oil Company - UAE
- Meenaskhi Energy Private Limited - India
- Barasentosa Lestari - Indonesia
- Central Electricity Authority - India
- Kohat Cement Company Ltd. - Pakistan
- Power Finance Corporation Ltd., India
- Leighton Contractors Pty Ltd - Australia
- Meralco Power Generation, Philippines
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