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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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Friday, 30 March 18
SHIPPING INDUSTRY CONFIDENCE HITS FOUR-YEAR HIGH - MOORE STEPHENS
Shipping Confidence Survey
In February 2018, the average confidence level expressed by respondents was up from 6.2 in November 2017 t ...
Friday, 30 March 18
EXPLAINING POLAND'S COAL PARADOX - FORBES
In the U.S. coal is succumbing to market forces despite the Trump Administration’s push to support the industry. Abundant, cheap and cleaner ...
Friday, 30 March 18
THIESS SECURES $140M MT OWEN INCREASE
Thiess has secured a A$140 million increase to its contract with Glencore for coal mining services at Mt Owen in the Hunter Valley, Australia. Mt O ...
Wednesday, 28 March 18
THIESS WINS $280M WAHANA EXTENSION
Thiess has been awarded a three-year $280 million contract extension at the Wahana coal mine in South Kalimantan, Indonesia.
According to Thie ...
Wednesday, 28 March 18
RIO TINTO TO SELL KESTREL MINE FOR $2.25 BILLION - REUTERS
Rio Tinto sold its remaining coal asset Kestrel in Australia to private equity manager EMR Capital and Indonesia’s Adaro Energy Tbk for $2.25 ...
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- Formosa Plastics Group - Taiwan
- Energy Development Corp, Philippines
- Toyota Tsusho Corporation, Japan
- Price Waterhouse Coopers - Russia
- Bahari Cakrawala Sebuku - Indonesia
- Planning Commission, India
- CNBM International Corporation - China
- McConnell Dowell - Australia
- The University of Queensland
- AsiaOL BioFuels Corp., Philippines
- Barasentosa Lestari - Indonesia
- Indogreen Group - Indonesia
- Sarangani Energy Corporation, Philippines
- SMG Consultants - Indonesia
- South Luzon Thermal Energy Corporation
- Pendopo Energi Batubara - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Grasim Industreis Ltd - India
- Straits Asia Resources Limited - Singapore
- Cement Manufacturers Association - India
- IEA Clean Coal Centre - UK
- Goldman Sachs - Singapore
- Rio Tinto Coal - Australia
- Bukit Baiduri Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Binh Thuan Hamico - Vietnam
- Dalmia Cement Bharat India
- Cigading International Bulk Terminal - Indonesia
- Kaltim Prima Coal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Posco Energy - South Korea
- Attock Cement Pakistan Limited
- PetroVietnam Power Coal Import and Supply Company
- Samtan Co., Ltd - South Korea
- Savvy Resources Ltd - HongKong
- Indika Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Eastern Coal Council - USA
- Kobexindo Tractors - Indoneisa
- SMC Global Power, Philippines
- Bulk Trading Sa - Switzerland
- Globalindo Alam Lestari - Indonesia
- Jaiprakash Power Ventures ltd
- Kartika Selabumi Mining - Indonesia
- Anglo American - United Kingdom
- Jorong Barutama Greston.PT - Indonesia
- Mercuria Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Energy Link Ltd, New Zealand
- Kepco SPC Power Corporation, Philippines
- Ministry of Mines - Canada
- VISA Power Limited - India
- LBH Netherlands Bv - Netherlands
- Billiton Holdings Pty Ltd - Australia
- Chettinad Cement Corporation Ltd - India
- Makarim & Taira - Indonesia
- TeaM Sual Corporation - Philippines
- Sinarmas Energy and Mining - Indonesia
- Renaissance Capital - South Africa
- Lanco Infratech Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Maheswari Brothers Coal Limited - India
- Orica Australia Pty. Ltd.
- Parliament of New Zealand
- TNB Fuel Sdn Bhd - Malaysia
- Star Paper Mills Limited - India
- ICICI Bank Limited - India
- Ambuja Cements Ltd - India
- Trasteel International SA, Italy
- Vedanta Resources Plc - India
- Kohat Cement Company Ltd. - Pakistan
- SN Aboitiz Power Inc, Philippines
- Salva Resources Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Bangladesh Power Developement Board
- Tamil Nadu electricity Board
- Directorate Of Revenue Intelligence - India
- Aboitiz Power Corporation - Philippines
- The Treasury - Australian Government
- Ind-Barath Power Infra Limited - India
- Edison Trading Spa - Italy
- Sojitz Corporation - Japan
- Medco Energi Mining Internasional
- Antam Resourcindo - Indonesia
- Bhatia International Limited - India
- Therma Luzon, Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Uttam Galva Steels Limited - India
- Chamber of Mines of South Africa
- Intertek Mineral Services - Indonesia
- Sakthi Sugars Limited - India
- Bayan Resources Tbk. - Indonesia
- India Bulls Power Limited - India
- European Bulk Services B.V. - Netherlands
- PNOC Exploration Corporation - Philippines
- IHS Mccloskey Coal Group - USA
- Offshore Bulk Terminal Pte Ltd, Singapore
- ASAPP Information Group - India
- Sree Jayajothi Cements Limited - India
- Videocon Industries ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Coastal Gujarat Power Limited - India
- Sical Logistics Limited - India
- Latin American Coal - Colombia
- Gujarat Sidhee Cement - India
- Iligan Light & Power Inc, Philippines
- Global Business Power Corporation, Philippines
- Standard Chartered Bank - UAE
- Metalloyd Limited - United Kingdom
- Leighton Contractors Pty Ltd - Australia
- Rashtriya Ispat Nigam Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Africa Commodities Group - South Africa
- Malabar Cements Ltd - India
- Singapore Mercantile Exchange
- Australian Commodity Traders Exchange
- Parry Sugars Refinery, India
- Kumho Petrochemical, South Korea
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Commonwealth Bank - Australia
- Ministry of Finance - Indonesia
- Bhoruka Overseas - Indonesia
- MS Steel International - UAE
- Merrill Lynch Commodities Europe
- PowerSource Philippines DevCo
- White Energy Company Limited
- London Commodity Brokers - England
- Siam City Cement PLC, Thailand
- Tata Chemicals Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PTC India Limited - India
- Heidelberg Cement - Germany
- Timah Investasi Mineral - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Carbofer General Trading SA - India
- Ministry of Transport, Egypt
- Wilmar Investment Holdings
- International Coal Ventures Pvt Ltd - India
- Larsen & Toubro Limited - India
- Banpu Public Company Limited - Thailand
- Karbindo Abesyapradhi - Indoneisa
- Electricity Authority, New Zealand
- GVK Power & Infra Limited - India
- Borneo Indobara - Indonesia
- Minerals Council of Australia
- Bhushan Steel Limited - India
- Kideco Jaya Agung - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Xindia Steels Limited - India
- Simpson Spence & Young - Indonesia
- GMR Energy Limited - India
- Marubeni Corporation - India
- Ceylon Electricity Board - Sri Lanka
- Coal and Oil Company - UAE
- Manunggal Multi Energi - Indonesia
- Electricity Generating Authority of Thailand
- Essar Steel Hazira Ltd - India
- Baramulti Group, Indonesia
- Bharathi Cement Corporation - India
- Agrawal Coal Company - India
- Indian Energy Exchange, India
- Interocean Group of Companies - India
- GN Power Mariveles Coal Plant, Philippines
- San Jose City I Power Corp, Philippines
- Petron Corporation, Philippines
- Central Java Power - Indonesia
- OPG Power Generation Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sindya Power Generating Company Private Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Romanian Commodities Exchange
- Indonesian Coal Mining Association
- Thai Mozambique Logistica
- Mintek Dendrill Indonesia
- Wood Mackenzie - Singapore
- Meenaskhi Energy Private Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Siam City Cement - Thailand
- Mercator Lines Limited - India
- Port Waratah Coal Services - Australia
- Indo Tambangraya Megah - Indonesia
- Economic Council, Georgia
- Independent Power Producers Association of India
- Australian Coal Association
- Semirara Mining and Power Corporation, Philippines
- Coalindo Energy - Indonesia
- Thiess Contractors Indonesia
- Global Coal Blending Company Limited - Australia
- Orica Mining Services - Indonesia
- Aditya Birla Group - India
- Holcim Trading Pte Ltd - Singapore
- Krishnapatnam Port Company Ltd. - India
- Global Green Power PLC Corporation, Philippines
- Oldendorff Carriers - Singapore
- Mjunction Services Limited - India
- Deloitte Consulting - India
- CIMB Investment Bank - Malaysia
- Meralco Power Generation, Philippines
- Bukit Makmur.PT - Indonesia
- Power Finance Corporation Ltd., India
- Central Electricity Authority - India
- The State Trading Corporation of India Ltd
- Vizag Seaport Private Limited - India
- Georgia Ports Authority, United States
- Madhucon Powers Ltd - India
- Altura Mining Limited, Indonesia
- Indian Oil Corporation Limited
- Karaikal Port Pvt Ltd - India
- Eastern Energy - Thailand
- Jindal Steel & Power Ltd - India
- New Zealand Coal & Carbon
- Riau Bara Harum - Indonesia
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