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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, 18 July 14
3RD CHINA INTERNATIONAL SHALE GAS SUMMIT
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Thursday, 17 July 14
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Handy
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Thursday, 17 July 14
INDIAN GOVERNMENT WISE TO TAKE ADVANTAGE OF CURRENTLY LOW THERMAL COAL PRICES AND SHIPPING RATES - JEFFREY LANDSBERG
With thermal coal import prices (and also shipping rates) very low at present, India's government would be very wise to take advantage of curre ...
Wednesday, 16 July 14
INDIA BUDGET HAS LIMITED SHORT TERM IMPACT ON POWER SECTOR - FITCH RATINGS
Fitch Ratings says that the measures announced relating to India's electricity sector in the budget for FY2015 are directionally correct but in ...
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- Global Business Power Corporation, Philippines
- MS Steel International - UAE
- Directorate Of Revenue Intelligence - India
- Indian Oil Corporation Limited
- Kumho Petrochemical, South Korea
- Economic Council, Georgia
- Power Finance Corporation Ltd., India
- Kobexindo Tractors - Indoneisa
- Gujarat Electricity Regulatory Commission - India
- Central Electricity Authority - India
- GVK Power & Infra Limited - India
- Mercator Lines Limited - India
- Borneo Indobara - Indonesia
- Independent Power Producers Association of India
- Tamil Nadu electricity Board
- Australian Commodity Traders Exchange
- South Luzon Thermal Energy Corporation
- Semirara Mining Corp, Philippines
- Anglo American - United Kingdom
- Merrill Lynch Commodities Europe
- The State Trading Corporation of India Ltd
- San Jose City I Power Corp, Philippines
- ASAPP Information Group - India
- London Commodity Brokers - England
- Iligan Light & Power Inc, Philippines
- Star Paper Mills Limited - India
- Samtan Co., Ltd - South Korea
- Madhucon Powers Ltd - India
- Parliament of New Zealand
- Siam City Cement PLC, Thailand
- Sarangani Energy Corporation, Philippines
- Australian Coal Association
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Electricity Generating Authority of Thailand
- AsiaOL BioFuels Corp., Philippines
- Sinarmas Energy and Mining - Indonesia
- Malabar Cements Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mjunction Services Limited - India
- Intertek Mineral Services - Indonesia
- Thiess Contractors Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Banpu Public Company Limited - Thailand
- Sindya Power Generating Company Private Ltd
- SMC Global Power, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Karaikal Port Pvt Ltd - India
- GMR Energy Limited - India
- Bukit Baiduri Energy - Indonesia
- Carbofer General Trading SA - India
- Indonesian Coal Mining Association
- Sical Logistics Limited - India
- Minerals Council of Australia
- Globalindo Alam Lestari - Indonesia
- Wilmar Investment Holdings
- Posco Energy - South Korea
- Edison Trading Spa - Italy
- Mercuria Energy - Indonesia
- Wood Mackenzie - Singapore
- PNOC Exploration Corporation - Philippines
- Trasteel International SA, Italy
- GN Power Mariveles Coal Plant, Philippines
- VISA Power Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Vizag Seaport Private Limited - India
- Bhushan Steel Limited - India
- Meenaskhi Energy Private Limited - India
- Electricity Authority, New Zealand
- Georgia Ports Authority, United States
- Neyveli Lignite Corporation Ltd, - India
- Uttam Galva Steels Limited - India
- Price Waterhouse Coopers - Russia
- Sree Jayajothi Cements Limited - India
- SMG Consultants - Indonesia
- Tata Chemicals Ltd - India
- Standard Chartered Bank - UAE
- Bangladesh Power Developement Board
- Medco Energi Mining Internasional
- India Bulls Power Limited - India
- Gujarat Sidhee Cement - India
- Kideco Jaya Agung - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Indo Tambangraya Megah - Indonesia
- Manunggal Multi Energi - Indonesia
- Meralco Power Generation, Philippines
- Jaiprakash Power Ventures ltd
- Baramulti Group, Indonesia
- Agrawal Coal Company - India
- Altura Mining Limited, Indonesia
- Coal and Oil Company - UAE
- Singapore Mercantile Exchange
- Cigading International Bulk Terminal - Indonesia
- Barasentosa Lestari - Indonesia
- Straits Asia Resources Limited - Singapore
- Central Java Power - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Africa Commodities Group - South Africa
- Ministry of Mines - Canada
- Oldendorff Carriers - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Maheswari Brothers Coal Limited - India
- Dalmia Cement Bharat India
- Bahari Cakrawala Sebuku - Indonesia
- Therma Luzon, Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- IHS Mccloskey Coal Group - USA
- Marubeni Corporation - India
- Siam City Cement - Thailand
- Aboitiz Power Corporation - Philippines
- Coastal Gujarat Power Limited - India
- CIMB Investment Bank - Malaysia
- Petron Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Bharathi Cement Corporation - India
- Pendopo Energi Batubara - Indonesia
- Indika Energy - Indonesia
- Energy Development Corp, Philippines
- Grasim Industreis Ltd - India
- Larsen & Toubro Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Jindal Steel & Power Ltd - India
- Ind-Barath Power Infra Limited - India
- Orica Australia Pty. Ltd.
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- OPG Power Generation Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Renaissance Capital - South Africa
- PowerSource Philippines DevCo
- Aditya Birla Group - India
- Energy Link Ltd, New Zealand
- The Treasury - Australian Government
- Port Waratah Coal Services - Australia
- CNBM International Corporation - China
- Attock Cement Pakistan Limited
- Eastern Energy - Thailand
- New Zealand Coal & Carbon
- Directorate General of MIneral and Coal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Eastern Coal Council - USA
- GAC Shipping (India) Pvt Ltd
- ICICI Bank Limited - India
- Orica Mining Services - Indonesia
- Kartika Selabumi Mining - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Ambuja Cements Ltd - India
- Videocon Industries ltd - India
- Planning Commission, India
- Ministry of Transport, Egypt
- Makarim & Taira - Indonesia
- Riau Bara Harum - Indonesia
- Vedanta Resources Plc - India
- PTC India Limited - India
- Ministry of Finance - Indonesia
- TeaM Sual Corporation - Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Toyota Tsusho Corporation, Japan
- Bulk Trading Sa - Switzerland
- Global Green Power PLC Corporation, Philippines
- Antam Resourcindo - Indonesia
- Sakthi Sugars Limited - India
- International Coal Ventures Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Parry Sugars Refinery, India
- Rio Tinto Coal - Australia
- Xindia Steels Limited - India
- Binh Thuan Hamico - Vietnam
- SN Aboitiz Power Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Cement Manufacturers Association - India
- McConnell Dowell - Australia
- Ceylon Electricity Board - Sri Lanka
- Latin American Coal - Colombia
- Kalimantan Lumbung Energi - Indonesia
- The University of Queensland
- Interocean Group of Companies - India
- Sojitz Corporation - Japan
- Savvy Resources Ltd - HongKong
- Bukit Makmur.PT - Indonesia
- Kepco SPC Power Corporation, Philippines
- Indian Energy Exchange, India
- Goldman Sachs - Singapore
- Global Coal Blending Company Limited - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Mintek Dendrill Indonesia
- Billiton Holdings Pty Ltd - Australia
- White Energy Company Limited
- Commonwealth Bank - Australia
- Bhatia International Limited - India
- Metalloyd Limited - United Kingdom
- LBH Netherlands Bv - Netherlands
- Lanco Infratech Ltd - India
- Indogreen Group - Indonesia
- Formosa Plastics Group - Taiwan
- Rashtriya Ispat Nigam Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Heidelberg Cement - Germany
- Thai Mozambique Logistica
- Chamber of Mines of South Africa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Romanian Commodities Exchange
- Coalindo Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Leighton Contractors Pty Ltd - Australia
- European Bulk Services B.V. - Netherlands
- Bank of Tokyo Mitsubishi UFJ Ltd
- Gujarat Mineral Development Corp Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- IEA Clean Coal Centre - UK
- Deloitte Consulting - India
- Bhoruka Overseas - Indonesia
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