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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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Monday, 05 April 10
RI TO SET REFERENCE FOR COMMODITIES - THE JAKARTA POST
The Jakarta Post reported that, Indonesia is set to help establish global reference prices for mining and agricultural commodities, with the establi ...
Monday, 05 April 10
MARCO POLO MARINE SECURES US$20 MILLION 4-YEAR COAL TRANSSHIPMENT CONTRACT
COALspot.com: Accordign to Mraco Polo Marine website, Singapore Exchange Mainboard-listed Marco Polo Marine Ltd, a growing integrated marine logisti ...
Saturday, 03 April 10
SHIPS OPENING FAREAST CONTINUE TO BE STRUGGLING FOR CARGOES - VISTAAR
COALspot.com: The dry bulk freight market continues to be under pressure and all the indices were down this week except for Cape size index which wa ...
Friday, 02 April 10
XSTRATA RAISES BENCHMARK COAL PRICE AS MUCH AS 40% - BLOOMBERG
Bloomberg reported that, Xstrata Plc, the world’s largest exporter of coal used for power, raised benchmark prices for the fuel to an unidenti ...
Thursday, 01 April 10
OWNERS WERE STILL BULLISH ON SHORT PERIOD NUMBERS, BUT CHARTERERS IN GENERAL WERE NOT READY TO PAY - BRS
SUPRA / HANDY
After several weeks of a rising market, the BSI lost 9% last week to close on Friday at US$ 27,677 per day for the TC routes. ...
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- Karaikal Port Pvt Ltd - India
- Standard Chartered Bank - UAE
- Thai Mozambique Logistica
- Marubeni Corporation - India
- PowerSource Philippines DevCo
- SMC Global Power, Philippines
- Mjunction Services Limited - India
- Jorong Barutama Greston.PT - Indonesia
- VISA Power Limited - India
- Gujarat Electricity Regulatory Commission - India
- Bhushan Steel Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- White Energy Company Limited
- Sojitz Corporation - Japan
- Altura Mining Limited, Indonesia
- Metalloyd Limited - United Kingdom
- The University of Queensland
- Kalimantan Lumbung Energi - Indonesia
- Sarangani Energy Corporation, Philippines
- Bhoruka Overseas - Indonesia
- TeaM Sual Corporation - Philippines
- Larsen & Toubro Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Directorate General of MIneral and Coal - Indonesia
- Ministry of Mines - Canada
- Coalindo Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Bhatia International Limited - India
- Ambuja Cements Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Bukit Makmur.PT - Indonesia
- Mercuria Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Eastern Coal Council - USA
- Energy Development Corp, Philippines
- Bharathi Cement Corporation - India
- Binh Thuan Hamico - Vietnam
- Jaiprakash Power Ventures ltd
- Kumho Petrochemical, South Korea
- PTC India Limited - India
- Antam Resourcindo - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Central Java Power - Indonesia
- Carbofer General Trading SA - India
- TNB Fuel Sdn Bhd - Malaysia
- Economic Council, Georgia
- Savvy Resources Ltd - HongKong
- Thiess Contractors Indonesia
- Latin American Coal - Colombia
- Leighton Contractors Pty Ltd - Australia
- Pendopo Energi Batubara - Indonesia
- Parliament of New Zealand
- Indogreen Group - Indonesia
- Mercator Lines Limited - India
- Xindia Steels Limited - India
- Lanco Infratech Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- GMR Energy Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Kapuas Tunggal Persada - Indonesia
- Parry Sugars Refinery, India
- Kideco Jaya Agung - Indonesia
- Vedanta Resources Plc - India
- CIMB Investment Bank - Malaysia
- The Treasury - Australian Government
- MS Steel International - UAE
- Rashtriya Ispat Nigam Limited - India
- Energy Link Ltd, New Zealand
- Meralco Power Generation, Philippines
- Dalmia Cement Bharat India
- Siam City Cement - Thailand
- Simpson Spence & Young - Indonesia
- Aboitiz Power Corporation - Philippines
- Central Electricity Authority - India
- Electricity Generating Authority of Thailand
- Singapore Mercantile Exchange
- Coal and Oil Company - UAE
- Aditya Birla Group - India
- Bayan Resources Tbk. - Indonesia
- Ministry of Transport, Egypt
- Videocon Industries ltd - India
- Banpu Public Company Limited - Thailand
- Electricity Authority, New Zealand
- Indian Oil Corporation Limited
- SMG Consultants - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Eastern Energy - Thailand
- Globalindo Alam Lestari - Indonesia
- CNBM International Corporation - China
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Gujarat Mineral Development Corp Ltd - India
- Directorate Of Revenue Intelligence - India
- Bangladesh Power Developement Board
- Makarim & Taira - Indonesia
- Orica Mining Services - Indonesia
- The State Trading Corporation of India Ltd
- Sical Logistics Limited - India
- LBH Netherlands Bv - Netherlands
- European Bulk Services B.V. - Netherlands
- Independent Power Producers Association of India
- Manunggal Multi Energi - Indonesia
- Semirara Mining Corp, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Chamber of Mines of South Africa
- Bukit Baiduri Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Goldman Sachs - Singapore
- Coastal Gujarat Power Limited - India
- Siam City Cement PLC, Thailand
- Baramulti Group, Indonesia
- Interocean Group of Companies - India
- Georgia Ports Authority, United States
- Anglo American - United Kingdom
- Ministry of Finance - Indonesia
- Australian Coal Association
- Petron Corporation, Philippines
- Attock Cement Pakistan Limited
- Trasteel International SA, Italy
- McConnell Dowell - Australia
- Billiton Holdings Pty Ltd - Australia
- Chettinad Cement Corporation Ltd - India
- Tamil Nadu electricity Board
- Iligan Light & Power Inc, Philippines
- Meenaskhi Energy Private Limited - India
- Sree Jayajothi Cements Limited - India
- Intertek Mineral Services - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Heidelberg Cement - Germany
- Power Finance Corporation Ltd., India
- Wood Mackenzie - Singapore
- ICICI Bank Limited - India
- Agrawal Coal Company - India
- Commonwealth Bank - Australia
- Cement Manufacturers Association - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- ASAPP Information Group - India
- Wilmar Investment Holdings
- Samtan Co., Ltd - South Korea
- Madhucon Powers Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Posco Energy - South Korea
- Riau Bara Harum - Indonesia
- Kartika Selabumi Mining - Indonesia
- Salva Resources Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- IEA Clean Coal Centre - UK
- OPG Power Generation Pvt Ltd - India
- Romanian Commodities Exchange
- Medco Energi Mining Internasional
- Edison Trading Spa - Italy
- Borneo Indobara - Indonesia
- Planning Commission, India
- Semirara Mining and Power Corporation, Philippines
- India Bulls Power Limited - India
- PNOC Exploration Corporation - Philippines
- SN Aboitiz Power Inc, Philippines
- Africa Commodities Group - South Africa
- IHS Mccloskey Coal Group - USA
- Uttam Galva Steels Limited - India
- Indonesian Coal Mining Association
- Timah Investasi Mineral - Indoneisa
- London Commodity Brokers - England
- New Zealand Coal & Carbon
- Bank of Tokyo Mitsubishi UFJ Ltd
- Minerals Council of Australia
- Grasim Industreis Ltd - India
- Tata Chemicals Ltd - India
- Ind-Barath Power Infra Limited - India
- Rio Tinto Coal - Australia
- Sindya Power Generating Company Private Ltd
- Indo Tambangraya Megah - Indonesia
- Jindal Steel & Power Ltd - India
- Star Paper Mills Limited - India
- Cigading International Bulk Terminal - Indonesia
- Mintek Dendrill Indonesia
- Global Green Power PLC Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- International Coal Ventures Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- South Luzon Thermal Energy Corporation
- GVK Power & Infra Limited - India
- Port Waratah Coal Services - Australia
- Kobexindo Tractors - Indoneisa
- Offshore Bulk Terminal Pte Ltd, Singapore
- San Jose City I Power Corp, Philippines
- Gujarat Sidhee Cement - India
- Global Business Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Kaltim Prima Coal - Indonesia
- Sakthi Sugars Limited - India
- Orica Australia Pty. Ltd.
- Therma Luzon, Inc, Philippines
- Barasentosa Lestari - Indonesia
- Vizag Seaport Private Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Renaissance Capital - South Africa
- Global Coal Blending Company Limited - Australia
- Malabar Cements Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Oldendorff Carriers - Singapore
- Price Waterhouse Coopers - Russia
- Merrill Lynch Commodities Europe
- Australian Commodity Traders Exchange
- GAC Shipping (India) Pvt Ltd
- Essar Steel Hazira Ltd - India
- Deloitte Consulting - India
- Bulk Trading Sa - Switzerland
- Formosa Plastics Group - Taiwan
- Sinarmas Energy and Mining - Indonesia
- Indika Energy - Indonesia
- Indian Energy Exchange, India
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