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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, 10 July 14
SGX EXPANDS ACROSS THE BULKS WITH NEW COAL PRODUCTS
COALspot.com: Singapore Exchange (SGX) is expanding its bulk commodity derivatives offering by launching new coking and thermal coal products on 4 ...
Thursday, 10 July 14
HANDY: SMALL INCREASE; PANAMAX: POSITIVE TONE; CAPESIZE: PAPER VALUES REMAIN WEEK
Handy
It is a general increase in activity in both hemispheres whereas rates have just experienced a small increase. In the Feast we see stable a ...
Wednesday, 09 July 14
SHIP INVESTMENTS ARE TRENDING LOWER
Most ship owners are deeming current ship prices on the high side, refraining from making serious commitments in new acquisitions or newbuilding or ...
Wednesday, 09 July 14
INDIAN GOVERNMENT ADVISED POWER UTILITIES TO INCREASE COAL IMPORTS
COALspot.com: The government of India has advised power utilities to increase coal imports to meet fuel shortages and those that have fuel supply p ...
Wednesday, 09 July 14
PANAMAX MARKET FINALLY CORRECTING UPWARDS; AVERAGE TC MORE THAN DOUBLING WEEK ON WEEK - INTERMODAL
The Dry Bulk market has closed off on Friday on a more positive note, with most segments noting weekly gains and the Panamax market finally correct ...
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- Eastern Coal Council - USA
- Latin American Coal - Colombia
- Standard Chartered Bank - UAE
- Indika Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Electricity Generating Authority of Thailand
- Trasteel International SA, Italy
- Energy Development Corp, Philippines
- Sarangani Energy Corporation, Philippines
- Sical Logistics Limited - India
- Sindya Power Generating Company Private Ltd
- Ministry of Mines - Canada
- Bayan Resources Tbk. - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Coal and Oil Company - UAE
- The State Trading Corporation of India Ltd
- Samtan Co., Ltd - South Korea
- Australian Commodity Traders Exchange
- Jaiprakash Power Ventures ltd
- Georgia Ports Authority, United States
- Vizag Seaport Private Limited - India
- Ambuja Cements Ltd - India
- Rio Tinto Coal - Australia
- Power Finance Corporation Ltd., India
- Parry Sugars Refinery, India
- Commonwealth Bank - Australia
- GMR Energy Limited - India
- Globalindo Alam Lestari - Indonesia
- Grasim Industreis Ltd - India
- ASAPP Information Group - India
- Dalmia Cement Bharat India
- Kobexindo Tractors - Indoneisa
- Australian Coal Association
- South Luzon Thermal Energy Corporation
- Eastern Energy - Thailand
- Manunggal Multi Energi - Indonesia
- Salva Resources Pvt Ltd - India
- Posco Energy - South Korea
- Bukit Asam (Persero) Tbk - Indonesia
- Barasentosa Lestari - Indonesia
- Indogreen Group - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Mercuria Energy - Indonesia
- MS Steel International - UAE
- New Zealand Coal & Carbon
- Jorong Barutama Greston.PT - Indonesia
- Meralco Power Generation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bangladesh Power Developement Board
- Planning Commission, India
- Vijayanagar Sugar Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Riau Bara Harum - Indonesia
- Ind-Barath Power Infra Limited - India
- Madhucon Powers Ltd - India
- Mjunction Services Limited - India
- Bhatia International Limited - India
- Vedanta Resources Plc - India
- McConnell Dowell - Australia
- San Jose City I Power Corp, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- European Bulk Services B.V. - Netherlands
- Wilmar Investment Holdings
- Minerals Council of Australia
- IHS Mccloskey Coal Group - USA
- Chamber of Mines of South Africa
- Siam City Cement PLC, Thailand
- Bulk Trading Sa - Switzerland
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Lanco Infratech Ltd - India
- Bhushan Steel Limited - India
- Cement Manufacturers Association - India
- Bukit Makmur.PT - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Savvy Resources Ltd - HongKong
- Sinarmas Energy and Mining - Indonesia
- Iligan Light & Power Inc, Philippines
- CIMB Investment Bank - Malaysia
- Gujarat Electricity Regulatory Commission - India
- Kartika Selabumi Mining - Indonesia
- Ministry of Finance - Indonesia
- Bukit Baiduri Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Renaissance Capital - South Africa
- India Bulls Power Limited - India
- Oldendorff Carriers - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- SN Aboitiz Power Inc, Philippines
- Singapore Mercantile Exchange
- GAC Shipping (India) Pvt Ltd
- Port Waratah Coal Services - Australia
- Carbofer General Trading SA - India
- Star Paper Mills Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Tata Chemicals Ltd - India
- The Treasury - Australian Government
- Price Waterhouse Coopers - Russia
- Semirara Mining Corp, Philippines
- Parliament of New Zealand
- CNBM International Corporation - China
- Mercator Lines Limited - India
- Coastal Gujarat Power Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Attock Cement Pakistan Limited
- Wood Mackenzie - Singapore
- Sakthi Sugars Limited - India
- Energy Link Ltd, New Zealand
- Bharathi Cement Corporation - India
- SMG Consultants - Indonesia
- Baramulti Group, Indonesia
- Tamil Nadu electricity Board
- Indian Oil Corporation Limited
- Simpson Spence & Young - Indonesia
- TeaM Sual Corporation - Philippines
- PNOC Exploration Corporation - Philippines
- Directorate General of MIneral and Coal - Indonesia
- Gujarat Sidhee Cement - India
- Videocon Industries ltd - India
- Miang Besar Coal Terminal - Indonesia
- Independent Power Producers Association of India
- Kumho Petrochemical, South Korea
- PowerSource Philippines DevCo
- Toyota Tsusho Corporation, Japan
- Uttam Galva Steels Limited - India
- Marubeni Corporation - India
- Leighton Contractors Pty Ltd - Australia
- Kideco Jaya Agung - Indonesia
- Central Electricity Authority - India
- Electricity Authority, New Zealand
- Intertek Mineral Services - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Rashtriya Ispat Nigam Limited - India
- SMC Global Power, Philippines
- Banpu Public Company Limited - Thailand
- Merrill Lynch Commodities Europe
- Metalloyd Limited - United Kingdom
- Altura Mining Limited, Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Kohat Cement Company Ltd. - Pakistan
- Aboitiz Power Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- Antam Resourcindo - Indonesia
- Africa Commodities Group - South Africa
- Anglo American - United Kingdom
- Global Business Power Corporation, Philippines
- Medco Energi Mining Internasional
- Kepco SPC Power Corporation, Philippines
- Ministry of Transport, Egypt
- Meenaskhi Energy Private Limited - India
- Formosa Plastics Group - Taiwan
- Central Java Power - Indonesia
- Karaikal Port Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Makarim & Taira - Indonesia
- Essar Steel Hazira Ltd - India
- Deloitte Consulting - India
- TNB Fuel Sdn Bhd - Malaysia
- Xindia Steels Limited - India
- Jindal Steel & Power Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Thiess Contractors Indonesia
- Goldman Sachs - Singapore
- Ceylon Electricity Board - Sri Lanka
- Interocean Group of Companies - India
- Edison Trading Spa - Italy
- Economic Council, Georgia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Larsen & Toubro Limited - India
- Pendopo Energi Batubara - Indonesia
- Borneo Indobara - Indonesia
- Global Green Power PLC Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Agrawal Coal Company - India
- Bhoruka Overseas - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Aditya Birla Group - India
- Indian Energy Exchange, India
- Maheswari Brothers Coal Limited - India
- White Energy Company Limited
- Heidelberg Cement - Germany
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- IEA Clean Coal Centre - UK
- Kapuas Tunggal Persada - Indonesia
- Kaltim Prima Coal - Indonesia
- Sree Jayajothi Cements Limited - India
- GVK Power & Infra Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Pipit Mutiara Jaya. PT, Indonesia
- Siam City Cement - Thailand
- Therma Luzon, Inc, Philippines
- PTC India Limited - India
- Sojitz Corporation - Japan
- Petron Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- ICICI Bank Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Orica Mining Services - Indonesia
- The University of Queensland
- Chettinad Cement Corporation Ltd - India
- Romanian Commodities Exchange
- Thai Mozambique Logistica
- Holcim Trading Pte Ltd - Singapore
- VISA Power Limited - India
- Coalindo Energy - Indonesia
- Mintek Dendrill Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Orica Australia Pty. Ltd.
- Straits Asia Resources Limited - Singapore
- Malabar Cements Ltd - India
- Indonesian Coal Mining Association
- London Commodity Brokers - England
- LBH Netherlands Bv - Netherlands
- International Coal Ventures Pvt Ltd - India
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