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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, 04 May 10
DRY BULK MARKET SOFTENING AGAIN ON LACK OF DIRECTION
The dry bulk market has put on the brakes once again, after the last session of the Baltic Dry Index ended at 3,354 points, down 5 from the previous ...
Monday, 03 May 10
AUSTRALIA PLANS 40 PERCENT TAX ON MINING PROFITS - THE JAKARTA POST
The Jakarta Post reported that, Australia would heavily tax the booming profits of its mining companies under a tax system overhaul proposed Sunday ...
Saturday, 01 May 10
THE PERIOD ACTIVITY WAS QUITE FIRM DURING THE WEEK - CAPT. REDDY
COALspot.com: The BDI was up by 11.32 pct which was mainly due to the firmness in capsize index which was up by 21.55 pct .
The other sectors Pan ...
Saturday, 01 May 10
EXPANDED SA COAL TERMINAL TO START OPERATIONS ON MAY 1 - MINING WEEKLY
Mining Weekly reported that, In line with expectations, the Richards Bay Coal Terminal (RBCT) had completed the R1,2-billion Phase V expansion ...
Thursday, 29 April 10
SOUTH AFRICAN ROUNDS BACK TO INDIA SUPRAS CAN ACHIEVE AROUND MID 20S
Handy
Atlantic markets remain firm. Supramaxes open in USG are now achieving low/mid&n ...
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- Latin American Coal - Colombia
- Pendopo Energi Batubara - Indonesia
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- Altura Mining Limited, Indonesia
- Electricity Generating Authority of Thailand
- Ministry of Transport, Egypt
- Meenaskhi Energy Private Limited - India
- Edison Trading Spa - Italy
- Agrawal Coal Company - India
- Gujarat Mineral Development Corp Ltd - India
- Bhatia International Limited - India
- Intertek Mineral Services - Indonesia
- Standard Chartered Bank - UAE
- Planning Commission, India
- Coalindo Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Jorong Barutama Greston.PT - Indonesia
- Central Electricity Authority - India
- Karaikal Port Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Krishnapatnam Port Company Ltd. - India
- Romanian Commodities Exchange
- Cement Manufacturers Association - India
- Kohat Cement Company Ltd. - Pakistan
- Sarangani Energy Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Malabar Cements Ltd - India
- Borneo Indobara - Indonesia
- Lanco Infratech Ltd - India
- GMR Energy Limited - India
- Cigading International Bulk Terminal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- Holcim Trading Pte Ltd - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Central Java Power - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Eastern Energy - Thailand
- Videocon Industries ltd - India
- Billiton Holdings Pty Ltd - Australia
- Riau Bara Harum - Indonesia
- Globalindo Alam Lestari - Indonesia
- Siam City Cement - Thailand
- Sree Jayajothi Cements Limited - India
- Grasim Industreis Ltd - India
- GAC Shipping (India) Pvt Ltd
- LBH Netherlands Bv - Netherlands
- White Energy Company Limited
- PTC India Limited - India
- Mjunction Services Limited - India
- Indonesian Coal Mining Association
- Africa Commodities Group - South Africa
- Bharathi Cement Corporation - India
- Electricity Authority, New Zealand
- Ceylon Electricity Board - Sri Lanka
- Marubeni Corporation - India
- Indo Tambangraya Megah - Indonesia
- Petron Corporation, Philippines
- Kumho Petrochemical, South Korea
- Banpu Public Company Limited - Thailand
- Uttam Galva Steels Limited - India
- GVK Power & Infra Limited - India
- Global Coal Blending Company Limited - Australia
- Tata Chemicals Ltd - India
- New Zealand Coal & Carbon
- Kideco Jaya Agung - Indonesia
- Oldendorff Carriers - Singapore
- Semirara Mining and Power Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Indian Energy Exchange, India
- Barasentosa Lestari - Indonesia
- International Coal Ventures Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Bahari Cakrawala Sebuku - Indonesia
- Kepco SPC Power Corporation, Philippines
- Larsen & Toubro Limited - India
- Renaissance Capital - South Africa
- Kaltim Prima Coal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Vijayanagar Sugar Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Dalmia Cement Bharat India
- AsiaOL BioFuels Corp., Philippines
- Parliament of New Zealand
- Gujarat Electricity Regulatory Commission - India
- Kartika Selabumi Mining - Indonesia
- Timah Investasi Mineral - Indoneisa
- Indogreen Group - Indonesia
- CIMB Investment Bank - Malaysia
- Vedanta Resources Plc - India
- SMG Consultants - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Kapuas Tunggal Persada - Indonesia
- Straits Asia Resources Limited - Singapore
- CNBM International Corporation - China
- Australian Commodity Traders Exchange
- Posco Energy - South Korea
- Power Finance Corporation Ltd., India
- Kobexindo Tractors - Indoneisa
- Madhucon Powers Ltd - India
- Sojitz Corporation - Japan
- Semirara Mining Corp, Philippines
- McConnell Dowell - Australia
- Carbofer General Trading SA - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Vizag Seaport Private Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bulk Trading Sa - Switzerland
- The University of Queensland
- Chamber of Mines of South Africa
- Singapore Mercantile Exchange
- Medco Energi Mining Internasional
- Indian Oil Corporation Limited
- Simpson Spence & Young - Indonesia
- San Jose City I Power Corp, Philippines
- Xindia Steels Limited - India
- Commonwealth Bank - Australia
- Ind-Barath Power Infra Limited - India
- Ministry of Mines - Canada
- South Luzon Thermal Energy Corporation
- Bukit Makmur.PT - Indonesia
- Jindal Steel & Power Ltd - India
- European Bulk Services B.V. - Netherlands
- Interocean Group of Companies - India
- Manunggal Multi Energi - Indonesia
- SN Aboitiz Power Inc, Philippines
- Coal and Oil Company - UAE
- Energy Development Corp, Philippines
- Ministry of Finance - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- ICICI Bank Limited - India
- MS Steel International - UAE
- Ambuja Cements Ltd - India
- Global Green Power PLC Corporation, Philippines
- VISA Power Limited - India
- Bhoruka Overseas - Indonesia
- Anglo American - United Kingdom
- Miang Besar Coal Terminal - Indonesia
- Attock Cement Pakistan Limited
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Global Business Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mintek Dendrill Indonesia
- Bukit Baiduri Energy - Indonesia
- Antam Resourcindo - Indonesia
- Therma Luzon, Inc, Philippines
- Heidelberg Cement - Germany
- Alfred C Toepfer International GmbH - Germany
- Merrill Lynch Commodities Europe
- Gujarat Sidhee Cement - India
- Goldman Sachs - Singapore
- Binh Thuan Hamico - Vietnam
- Savvy Resources Ltd - HongKong
- Toyota Tsusho Corporation, Japan
- Aboitiz Power Corporation - Philippines
- Sakthi Sugars Limited - India
- Directorate Of Revenue Intelligence - India
- Siam City Cement PLC, Thailand
- London Commodity Brokers - England
- IEA Clean Coal Centre - UK
- Independent Power Producers Association of India
- Trasteel International SA, Italy
- Bayan Resources Tbk. - Indonesia
- Chettinad Cement Corporation Ltd - India
- Deloitte Consulting - India
- Price Waterhouse Coopers - Russia
- Tamil Nadu electricity Board
- Thai Mozambique Logistica
- Rashtriya Ispat Nigam Limited - India
- Bhushan Steel Limited - India
- Essar Steel Hazira Ltd - India
- PNOC Exploration Corporation - Philippines
- Coastal Gujarat Power Limited - India
- Thiess Contractors Indonesia
- Parry Sugars Refinery, India
- Indika Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Port Waratah Coal Services - Australia
- PowerSource Philippines DevCo
- Mercuria Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Asmin Koalindo Tuhup - Indonesia
- Mercator Lines Limited - India
- IHS Mccloskey Coal Group - USA
- Directorate General of MIneral and Coal - Indonesia
- SMC Global Power, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- TeaM Sual Corporation - Philippines
- Wilmar Investment Holdings
- Salva Resources Pvt Ltd - India
- Eastern Coal Council - USA
- Energy Link Ltd, New Zealand
- The State Trading Corporation of India Ltd
- The Treasury - Australian Government
- Bangladesh Power Developement Board
- Economic Council, Georgia
- Maheswari Brothers Coal Limited - India
- Minerals Council of Australia
- Star Paper Mills Limited - India
- Rio Tinto Coal - Australia
- Australian Coal Association
- Wood Mackenzie - Singapore
- OPG Power Generation Pvt Ltd - India
- ASAPP Information Group - India
- Orica Australia Pty. Ltd.
- Makarim & Taira - Indonesia
- Meralco Power Generation, Philippines
- Orica Mining Services - Indonesia
- Baramulti Group, Indonesia
- Georgia Ports Authority, United States
- Aditya Birla Group - India
- India Bulls Power Limited - India
- Iligan Light & Power Inc, Philippines
- Formosa Plastics Group - Taiwan
- Sical Logistics Limited - India
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