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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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Monday, 09 June 14
API 8 CFR SOUTH CHINA COAL SWAP Q3 14 DELIVERIES LOST 4.61% M-O-M
COALspot.com: API 8 CFR South China Coal swaps for average Q3 14 deliveries lost 4.61 percent month on month and closed at US$ 71.62 per mt a ...
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DRY BULK MARKET RATES FOR PANAMXES TO REMAIN VOLATILE; NO IMPROVEMENTS SEEN OVER THE WEEK
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Saturday, 07 June 14
FIRST BITE AT ANTI-CORRUPTION CLAUSE - BIMCO
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COALspot.com – United States the world's second largest coal producer, produced approximately 19.2 million short tons (mmst) of coal in a ...
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- Kumho Petrochemical, South Korea
- CIMB Investment Bank - Malaysia
- CNBM International Corporation - China
- Posco Energy - South Korea
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Samtan Co., Ltd - South Korea
- Holcim Trading Pte Ltd - Singapore
- VISA Power Limited - India
- Billiton Holdings Pty Ltd - Australia
- Kepco SPC Power Corporation, Philippines
- Antam Resourcindo - Indonesia
- Indonesian Coal Mining Association
- Bhushan Steel Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Directorate General of MIneral and Coal - Indonesia
- Sical Logistics Limited - India
- PNOC Exploration Corporation - Philippines
- Anglo American - United Kingdom
- Medco Energi Mining Internasional
- Australian Coal Association
- GMR Energy Limited - India
- Intertek Mineral Services - Indonesia
- Deloitte Consulting - India
- New Zealand Coal & Carbon
- GAC Shipping (India) Pvt Ltd
- Vedanta Resources Plc - India
- Eastern Energy - Thailand
- International Coal Ventures Pvt Ltd - India
- PTC India Limited - India
- Riau Bara Harum - Indonesia
- Chamber of Mines of South Africa
- Kapuas Tunggal Persada - Indonesia
- Aboitiz Power Corporation - Philippines
- Trasteel International SA, Italy
- Jorong Barutama Greston.PT - Indonesia
- Bhoruka Overseas - Indonesia
- European Bulk Services B.V. - Netherlands
- Global Coal Blending Company Limited - Australia
- Ministry of Transport, Egypt
- Bahari Cakrawala Sebuku - Indonesia
- Mintek Dendrill Indonesia
- Kideco Jaya Agung - Indonesia
- Electricity Generating Authority of Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Coalindo Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Attock Cement Pakistan Limited
- SMC Global Power, Philippines
- Jaiprakash Power Ventures ltd
- Uttam Galva Steels Limited - India
- London Commodity Brokers - England
- India Bulls Power Limited - India
- Orica Australia Pty. Ltd.
- Kartika Selabumi Mining - Indonesia
- Africa Commodities Group - South Africa
- Toyota Tsusho Corporation, Japan
- IHS Mccloskey Coal Group - USA
- South Luzon Thermal Energy Corporation
- Miang Besar Coal Terminal - Indonesia
- Siam City Cement - Thailand
- Straits Asia Resources Limited - Singapore
- Parry Sugars Refinery, India
- SN Aboitiz Power Inc, Philippines
- Eastern Coal Council - USA
- Essar Steel Hazira Ltd - India
- Gujarat Electricity Regulatory Commission - India
- The Treasury - Australian Government
- Economic Council, Georgia
- Neyveli Lignite Corporation Ltd, - India
- Australian Commodity Traders Exchange
- Merrill Lynch Commodities Europe
- Barasentosa Lestari - Indonesia
- Cement Manufacturers Association - India
- Ministry of Mines - Canada
- Simpson Spence & Young - Indonesia
- Salva Resources Pvt Ltd - India
- Independent Power Producers Association of India
- Indo Tambangraya Megah - Indonesia
- Formosa Plastics Group - Taiwan
- GN Power Mariveles Coal Plant, Philippines
- Sakthi Sugars Limited - India
- Therma Luzon, Inc, Philippines
- Indian Energy Exchange, India
- Romanian Commodities Exchange
- TeaM Sual Corporation - Philippines
- Singapore Mercantile Exchange
- Directorate Of Revenue Intelligence - India
- Ceylon Electricity Board - Sri Lanka
- Ind-Barath Power Infra Limited - India
- Gujarat Sidhee Cement - India
- Ambuja Cements Ltd - India
- Orica Mining Services - Indonesia
- Ministry of Finance - Indonesia
- Agrawal Coal Company - India
- GVK Power & Infra Limited - India
- Bangladesh Power Developement Board
- Coal and Oil Company - UAE
- Semirara Mining and Power Corporation, Philippines
- Tata Chemicals Ltd - India
- San Jose City I Power Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- Alfred C Toepfer International GmbH - Germany
- Vizag Seaport Private Limited - India
- Electricity Authority, New Zealand
- Krishnapatnam Port Company Ltd. - India
- Sree Jayajothi Cements Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Latin American Coal - Colombia
- Vijayanagar Sugar Pvt Ltd - India
- Malabar Cements Ltd - India
- Xindia Steels Limited - India
- Standard Chartered Bank - UAE
- Central Java Power - Indonesia
- Mercuria Energy - Indonesia
- Baramulti Group, Indonesia
- Madhucon Powers Ltd - India
- Parliament of New Zealand
- Pendopo Energi Batubara - Indonesia
- Sojitz Corporation - Japan
- Grasim Industreis Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Port Waratah Coal Services - Australia
- Price Waterhouse Coopers - Russia
- Iligan Light & Power Inc, Philippines
- Thiess Contractors Indonesia
- OPG Power Generation Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Wilmar Investment Holdings
- Lanco Infratech Ltd - India
- Energy Development Corp, Philippines
- Cigading International Bulk Terminal - Indonesia
- Sarangani Energy Corporation, Philippines
- Power Finance Corporation Ltd., India
- ICICI Bank Limited - India
- Renaissance Capital - South Africa
- The University of Queensland
- Bulk Trading Sa - Switzerland
- Tamil Nadu electricity Board
- Aditya Birla Group - India
- Edison Trading Spa - Italy
- MS Steel International - UAE
- Wood Mackenzie - Singapore
- Chettinad Cement Corporation Ltd - India
- Planning Commission, India
- Maheswari Brothers Coal Limited - India
- Altura Mining Limited, Indonesia
- Globalindo Alam Lestari - Indonesia
- Rashtriya Ispat Nigam Limited - India
- McConnell Dowell - Australia
- Indogreen Group - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Larsen & Toubro Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mjunction Services Limited - India
- Petron Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- SMG Consultants - Indonesia
- Interocean Group of Companies - India
- Sindya Power Generating Company Private Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Kobexindo Tractors - Indoneisa
- Minerals Council of Australia
- Mercator Lines Limited - India
- Siam City Cement PLC, Thailand
- Meenaskhi Energy Private Limited - India
- Jindal Steel & Power Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Baiduri Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Semirara Mining Corp, Philippines
- Bharathi Cement Corporation - India
- Rio Tinto Coal - Australia
- Manunggal Multi Energi - Indonesia
- Metalloyd Limited - United Kingdom
- LBH Netherlands Bv - Netherlands
- Gujarat Mineral Development Corp Ltd - India
- Coastal Gujarat Power Limited - India
- Global Green Power PLC Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Oldendorff Carriers - Singapore
- Meralco Power Generation, Philippines
- Carbofer General Trading SA - India
- Videocon Industries ltd - India
- IEA Clean Coal Centre - UK
- Indian Oil Corporation Limited
- Binh Thuan Hamico - Vietnam
- Central Electricity Authority - India
- Makarim & Taira - Indonesia
- Bhatia International Limited - India
- PowerSource Philippines DevCo
- Commonwealth Bank - Australia
- TNB Fuel Sdn Bhd - Malaysia
- PetroVietnam Power Coal Import and Supply Company
- Timah Investasi Mineral - Indoneisa
- Kohat Cement Company Ltd. - Pakistan
- White Energy Company Limited
- Energy Link Ltd, New Zealand
- Karaikal Port Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Asmin Koalindo Tuhup - Indonesia
- Kaltim Prima Coal - Indonesia
- Georgia Ports Authority, United States
- ASAPP Information Group - India
- Leighton Contractors Pty Ltd - Australia
- Heidelberg Cement - Germany
- Thai Mozambique Logistica
- Borneo Indobara - Indonesia
- Dalmia Cement Bharat India
- The State Trading Corporation of India Ltd
- Indika Energy - Indonesia
- Star Paper Mills Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Goldman Sachs - Singapore
- Marubeni Corporation - India
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