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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, 05 April 18
INDONESIA TO POSTPONE NEW COAL, PALM OIL SHIPPING RULES TO 2020 - REUTERS
Indonesia will delay until 2020 trade rules requiring exporters of coal and crude palm oil to use only Indonesian-flagged vessels, government offic ...
Tuesday, 03 April 18
MARKET ANALYSIS - GEORGE LAZARIDIS
In the midst of a relatively quiet week for markets, with disruptions being caused by the Christian holidays, it seems as though we find ourselves ...
Monday, 02 April 18
THE FREIGHT RATES ARE EXPECTED TO BE FLAT TO SOFT, SAYS VISTAAR
The freight market softening to continue. Thursday, March 29, 2018, the Baltic Dry Index decreased by 42 points, reaching 1080 points.
T ...
Monday, 02 April 18
THIESS TO DELIVER $150M SENAKIN CONTRACT EXTENSION
Thiess has secured a $150 million contract extension to provide mine services at Arutmin’s Senakin coal mine in South Kalimantan, Indonesia.
...
Monday, 02 April 18
THIESS SECURES $240M SATUI EXTENSION
The successful implementation of an innovative mining plan by Thiess at the Satui coal mine in South Kalimantan, has resulted in a $240 million con ...
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- The State Trading Corporation of India Ltd
- Karbindo Abesyapradhi - Indoneisa
- Coalindo Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Goldman Sachs - Singapore
- Eastern Energy - Thailand
- Standard Chartered Bank - UAE
- Economic Council, Georgia
- Directorate General of MIneral and Coal - Indonesia
- Lanco Infratech Ltd - India
- Meenaskhi Energy Private Limited - India
- South Luzon Thermal Energy Corporation
- Australian Coal Association
- Gujarat Electricity Regulatory Commission - India
- Madhucon Powers Ltd - India
- Ministry of Mines - Canada
- Energy Link Ltd, New Zealand
- Ministry of Finance - Indonesia
- GMR Energy Limited - India
- IEA Clean Coal Centre - UK
- Thai Mozambique Logistica
- Baramulti Group, Indonesia
- Petron Corporation, Philippines
- Tamil Nadu electricity Board
- Krishnapatnam Port Company Ltd. - India
- Bulk Trading Sa - Switzerland
- Rio Tinto Coal - Australia
- New Zealand Coal & Carbon
- Globalindo Alam Lestari - Indonesia
- Agrawal Coal Company - India
- London Commodity Brokers - England
- Thiess Contractors Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Africa Commodities Group - South Africa
- Tata Chemicals Ltd - India
- Siam City Cement PLC, Thailand
- IHS Mccloskey Coal Group - USA
- The University of Queensland
- Metalloyd Limited - United Kingdom
- Bharathi Cement Corporation - India
- Simpson Spence & Young - Indonesia
- Antam Resourcindo - Indonesia
- Sical Logistics Limited - India
- Interocean Group of Companies - India
- European Bulk Services B.V. - Netherlands
- Vijayanagar Sugar Pvt Ltd - India
- Indika Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- GAC Shipping (India) Pvt Ltd
- Coastal Gujarat Power Limited - India
- Jindal Steel & Power Ltd - India
- Singapore Mercantile Exchange
- Vizag Seaport Private Limited - India
- Bhatia International Limited - India
- Electricity Generating Authority of Thailand
- Merrill Lynch Commodities Europe
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Global Business Power Corporation, Philippines
- Electricity Authority, New Zealand
- Medco Energi Mining Internasional
- Port Waratah Coal Services - Australia
- Parliament of New Zealand
- Rashtriya Ispat Nigam Limited - India
- TeaM Sual Corporation - Philippines
- Ministry of Transport, Egypt
- ASAPP Information Group - India
- Sinarmas Energy and Mining - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Oldendorff Carriers - Singapore
- Orica Mining Services - Indonesia
- Ambuja Cements Ltd - India
- Cement Manufacturers Association - India
- Georgia Ports Authority, United States
- Videocon Industries ltd - India
- Vedanta Resources Plc - India
- Semirara Mining Corp, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Sindya Power Generating Company Private Ltd
- Makarim & Taira - Indonesia
- Bayan Resources Tbk. - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indonesian Coal Mining Association
- Toyota Tsusho Corporation, Japan
- Billiton Holdings Pty Ltd - Australia
- Orica Australia Pty. Ltd.
- Sarangani Energy Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- SMG Consultants - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Maheswari Brothers Coal Limited - India
- Kobexindo Tractors - Indoneisa
- Kideco Jaya Agung - Indonesia
- Formosa Plastics Group - Taiwan
- Leighton Contractors Pty Ltd - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Sojitz Corporation - Japan
- Latin American Coal - Colombia
- ICICI Bank Limited - India
- Cigading International Bulk Terminal - Indonesia
- Indian Oil Corporation Limited
- SMC Global Power, Philippines
- Mercator Lines Limited - India
- Kartika Selabumi Mining - Indonesia
- Pendopo Energi Batubara - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Kepco SPC Power Corporation, Philippines
- Commonwealth Bank - Australia
- Minerals Council of Australia
- Sakthi Sugars Limited - India
- Karaikal Port Pvt Ltd - India
- Malabar Cements Ltd - India
- Planning Commission, India
- Kapuas Tunggal Persada - Indonesia
- Mercuria Energy - Indonesia
- Australian Commodity Traders Exchange
- Dalmia Cement Bharat India
- CIMB Investment Bank - Malaysia
- Salva Resources Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- India Bulls Power Limited - India
- Savvy Resources Ltd - HongKong
- PNOC Exploration Corporation - Philippines
- Xindia Steels Limited - India
- Bhushan Steel Limited - India
- Riau Bara Harum - Indonesia
- Aditya Birla Group - India
- International Coal Ventures Pvt Ltd - India
- Parry Sugars Refinery, India
- Renaissance Capital - South Africa
- Directorate Of Revenue Intelligence - India
- Heidelberg Cement - Germany
- Altura Mining Limited, Indonesia
- Independent Power Producers Association of India
- The Treasury - Australian Government
- Intertek Mineral Services - Indonesia
- Banpu Public Company Limited - Thailand
- Maharashtra Electricity Regulatory Commission - India
- VISA Power Limited - India
- GVK Power & Infra Limited - India
- Marubeni Corporation - India
- LBH Netherlands Bv - Netherlands
- Wilmar Investment Holdings
- Bhoruka Overseas - Indonesia
- Meralco Power Generation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Bangladesh Power Developement Board
- GN Power Mariveles Coal Plant, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Aboitiz Power Corporation - Philippines
- Sree Jayajothi Cements Limited - India
- Kaltim Prima Coal - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Price Waterhouse Coopers - Russia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Eastern Coal Council - USA
- Gujarat Sidhee Cement - India
- Indian Energy Exchange, India
- AsiaOL BioFuels Corp., Philippines
- Therma Luzon, Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Attock Cement Pakistan Limited
- Wood Mackenzie - Singapore
- McConnell Dowell - Australia
- Power Finance Corporation Ltd., India
- Indo Tambangraya Megah - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Deloitte Consulting - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Coal and Oil Company - UAE
- White Energy Company Limited
- PTC India Limited - India
- Central Java Power - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Borneo Indobara - Indonesia
- Star Paper Mills Limited - India
- Romanian Commodities Exchange
- MS Steel International - UAE
- TNB Fuel Sdn Bhd - Malaysia
- Bukit Makmur.PT - Indonesia
- Posco Energy - South Korea
- Anglo American - United Kingdom
- OPG Power Generation Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- PowerSource Philippines DevCo
- Iligan Light & Power Inc, Philippines
- Chamber of Mines of South Africa
- Timah Investasi Mineral - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Essar Steel Hazira Ltd - India
- San Jose City I Power Corp, Philippines
- Grasim Industreis Ltd - India
- Global Coal Blending Company Limited - Australia
- Kumho Petrochemical, South Korea
- Central Electricity Authority - India
- Trasteel International SA, Italy
- Chettinad Cement Corporation Ltd - India
- Bukit Baiduri Energy - Indonesia
- Energy Development Corp, Philippines
- CNBM International Corporation - China
- Indogreen Group - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Siam City Cement - Thailand
- Neyveli Lignite Corporation Ltd, - India
- Larsen & Toubro Limited - India
- Carbofer General Trading SA - India
- Edison Trading Spa - Italy
- Mintek Dendrill Indonesia
- Samtan Co., Ltd - South Korea
- Straits Asia Resources Limited - Singapore
- Global Green Power PLC Corporation, Philippines
- Mjunction Services Limited - India
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