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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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Wednesday, 23 July 14
HARD COAL 2013: THE WORLD'S SECOND-MOST IMPORTANT ENERGY SOURCE AND GUARANTOR FOR THE SECURITY OF ENERGY SUPPLIES DURING TIMES OF CRISIS
Hard coal is again in 2013 the fastest-growing fossil primary energy source in the world. As shown in the BP Statistical Review 2014, it covered ab ...
Tuesday, 22 July 14
INDONESIAN ELECTION RESULT ENCOURAGING FOR FOREIGN INVESTMENT IN ENERGY AND MINING SECTORS - WOOD MACKENZIE
Joko Widodo-Jusuf Kalla has been announced as the official winner of Indonesia's presidential election. Joko Widodo, or Jokowi, is viewed as a ...
Tuesday, 22 July 14
THE CURRENT COAL PRICES ARE UNPROFITABLE FOR MINERS; COAL PRICES WILL GRADUALLY INCREASE - FITCH
COALspot.com: The Fitch Ratings expect the benchmark Newcastle coal prices (currently at about USD70/MT) to gradually increase.
Fitch's la ...
Tuesday, 22 July 14
SUB-BIT FOB INDONESIA COAL Q3' 14 DOWN 5.21%; Q4' 14 DOWN 3.56%; Q1' 15 DOWN 4.75% M-O-M
COALspot.com: Indonesian coal swaps for average Q3’ 2014 flat on day, weak week on week and on month according to AsiaClear OTC coal swap' ...
Tuesday, 22 July 14
INDONESIA'S MINERAL EXPORT BAN: CHINA UNDER PRESSURE? - CLARKSONS
In January 2014, Indonesia introduced new regulations on exports of unprocessed minerals. Exports of some minerals have been heavily taxed, whilst ...
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- Heidelberg Cement - Germany
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Port Waratah Coal Services - Australia
- Orica Mining Services - Indonesia
- Parry Sugars Refinery, India
- CNBM International Corporation - China
- Mjunction Services Limited - India
- Malabar Cements Ltd - India
- New Zealand Coal & Carbon
- PetroVietnam Power Coal Import and Supply Company
- PNOC Exploration Corporation - Philippines
- Therma Luzon, Inc, Philippines
- The State Trading Corporation of India Ltd
- Krishnapatnam Port Company Ltd. - India
- TNB Fuel Sdn Bhd - Malaysia
- Eastern Energy - Thailand
- Bukit Baiduri Energy - Indonesia
- Merrill Lynch Commodities Europe
- Riau Bara Harum - Indonesia
- San Jose City I Power Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Uttam Galva Steels Limited - India
- AsiaOL BioFuels Corp., Philippines
- European Bulk Services B.V. - Netherlands
- Pendopo Energi Batubara - Indonesia
- Kepco SPC Power Corporation, Philippines
- Global Business Power Corporation, Philippines
- Africa Commodities Group - South Africa
- SN Aboitiz Power Inc, Philippines
- Trasteel International SA, Italy
- Kumho Petrochemical, South Korea
- IHS Mccloskey Coal Group - USA
- Altura Mining Limited, Indonesia
- Coastal Gujarat Power Limited - India
- The Treasury - Australian Government
- Jindal Steel & Power Ltd - India
- Bangladesh Power Developement Board
- VISA Power Limited - India
- Meenaskhi Energy Private Limited - India
- Leighton Contractors Pty Ltd - Australia
- Savvy Resources Ltd - HongKong
- Carbofer General Trading SA - India
- Oldendorff Carriers - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Sojitz Corporation - Japan
- Ambuja Cements Ltd - India
- Power Finance Corporation Ltd., India
- Romanian Commodities Exchange
- Jorong Barutama Greston.PT - Indonesia
- Bukit Makmur.PT - Indonesia
- Indo Tambangraya Megah - Indonesia
- Minerals Council of Australia
- Sarangani Energy Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Sinarmas Energy and Mining - Indonesia
- Anglo American - United Kingdom
- Rio Tinto Coal - Australia
- Miang Besar Coal Terminal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Aditya Birla Group - India
- Eastern Coal Council - USA
- Grasim Industreis Ltd - India
- White Energy Company Limited
- Dalmia Cement Bharat India
- Australian Coal Association
- Kohat Cement Company Ltd. - Pakistan
- Bhatia International Limited - India
- Cement Manufacturers Association - India
- Vedanta Resources Plc - India
- GN Power Mariveles Coal Plant, Philippines
- Holcim Trading Pte Ltd - Singapore
- Planning Commission, India
- Attock Cement Pakistan Limited
- Global Green Power PLC Corporation, Philippines
- PTC India Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Mercuria Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Lanco Infratech Ltd - India
- Madhucon Powers Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Renaissance Capital - South Africa
- Mintek Dendrill Indonesia
- Antam Resourcindo - Indonesia
- Salva Resources Pvt Ltd - India
- Larsen & Toubro Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Simpson Spence & Young - Indonesia
- MS Steel International - UAE
- Energy Link Ltd, New Zealand
- Coalindo Energy - Indonesia
- London Commodity Brokers - England
- Kartika Selabumi Mining - Indonesia
- Central Electricity Authority - India
- SMC Global Power, Philippines
- GVK Power & Infra Limited - India
- Videocon Industries ltd - India
- Timah Investasi Mineral - Indoneisa
- Singapore Mercantile Exchange
- PowerSource Philippines DevCo
- Maheswari Brothers Coal Limited - India
- Independent Power Producers Association of India
- Ministry of Transport, Egypt
- Energy Development Corp, Philippines
- Georgia Ports Authority, United States
- Edison Trading Spa - Italy
- Wilmar Investment Holdings
- Australian Commodity Traders Exchange
- Globalindo Alam Lestari - Indonesia
- Sindya Power Generating Company Private Ltd
- Iligan Light & Power Inc, Philippines
- Standard Chartered Bank - UAE
- Kobexindo Tractors - Indoneisa
- Chamber of Mines of South Africa
- ICICI Bank Limited - India
- Essar Steel Hazira Ltd - India
- TeaM Sual Corporation - Philippines
- Sakthi Sugars Limited - India
- Goldman Sachs - Singapore
- Orica Australia Pty. Ltd.
- Aboitiz Power Corporation - Philippines
- Bayan Resources Tbk. - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Posco Energy - South Korea
- Manunggal Multi Energi - Indonesia
- Bharathi Cement Corporation - India
- Banpu Public Company Limited - Thailand
- Karaikal Port Pvt Ltd - India
- Ministry of Mines - Canada
- Ministry of Finance - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Latin American Coal - Colombia
- Meralco Power Generation, Philippines
- Intertek Mineral Services - Indonesia
- Tamil Nadu electricity Board
- Formosa Plastics Group - Taiwan
- Mercator Lines Limited - India
- Central Java Power - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Metalloyd Limited - United Kingdom
- Ind-Barath Power Infra Limited - India
- Barasentosa Lestari - Indonesia
- McConnell Dowell - Australia
- Makarim & Taira - Indonesia
- Vizag Seaport Private Limited - India
- Siam City Cement PLC, Thailand
- Bulk Trading Sa - Switzerland
- Jaiprakash Power Ventures ltd
- Thai Mozambique Logistica
- CIMB Investment Bank - Malaysia
- Binh Thuan Hamico - Vietnam
- India Bulls Power Limited - India
- Cigading International Bulk Terminal - Indonesia
- Thiess Contractors Indonesia
- Global Coal Blending Company Limited - Australia
- GMR Energy Limited - India
- Agrawal Coal Company - India
- Sical Logistics Limited - India
- Indika Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- The University of Queensland
- Deloitte Consulting - India
- Siam City Cement - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Bhushan Steel Limited - India
- Gujarat Electricity Regulatory Commission - India
- Borneo Indobara - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Straits Asia Resources Limited - Singapore
- Coal and Oil Company - UAE
- Indogreen Group - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Commonwealth Bank - Australia
- Semirara Mining Corp, Philippines
- ASAPP Information Group - India
- Interocean Group of Companies - India
- OPG Power Generation Pvt Ltd - India
- Xindia Steels Limited - India
- Toyota Tsusho Corporation, Japan
- Baramulti Group, Indonesia
- Star Paper Mills Limited - India
- Parliament of New Zealand
- Wood Mackenzie - Singapore
- Price Waterhouse Coopers - Russia
- Indian Oil Corporation Limited
- LBH Netherlands Bv - Netherlands
- Petron Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- SMG Consultants - Indonesia
- GAC Shipping (India) Pvt Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Directorate Of Revenue Intelligence - India
- Tata Chemicals Ltd - India
- Gujarat Sidhee Cement - India
- Electricity Generating Authority of Thailand
- Kideco Jaya Agung - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Samtan Co., Ltd - South Korea
- Medco Energi Mining Internasional
- South Luzon Thermal Energy Corporation
- Sree Jayajothi Cements Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- International Coal Ventures Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- IEA Clean Coal Centre - UK
- Kaltim Prima Coal - Indonesia
- Indonesian Coal Mining Association
- Marubeni Corporation - India
- Semirara Mining and Power Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Electricity Authority, New Zealand
- Indian Energy Exchange, India
- Petrochimia International Co. Ltd.- Taiwan
- Economic Council, Georgia
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