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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, 23 May 14
DRY BULK NEWBUILDING CANCELLATIONS COULD HELP SUPPORT MARKET IN THE COMING WEEKS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market's demise over the past few months maybe has come as a surprise to many, but analysts and shipbrokers are looking forward to ...
Thursday, 22 May 14
HEAR SUCCESSFUL CASE STUDIES FROM 10 INDEPENDENT UNCONVENTIONAL GAS OPERATORS
Unconventional Gas Asia 2014 will provide a unique opportunity for Asia’s unconventional gas leaders to share their experience and expertise ...
Thursday, 22 May 14
CNPC-GAZPROM DEAL A MEDIUM - TERM POSITIVE FOR CHINA'S GAS SECTOR
Fitch Ratings says a 30-year deal in which Russia's OAO Gazprom (BBB/Negative) will supply gas to China National Petroleum Corporation (CNPC; A ...
Thursday, 22 May 14
CAPESIZE : RATES ARE STILL UNDER PRESSURE
Handy
A quiet start into the week in Far East, some fresh Indonesian coal order in the market. For trips within S.E. Asia, Supras are trading aro ...
Wednesday, 21 May 14
SHIPPING: MARKET INSIGHT - GEORGE LAZARIDIS
The recent revision by the OECD of its global growth forecast has sparked a debate as to the potential outcome these new figures will have on seabo ...
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- Savvy Resources Ltd - HongKong
- Romanian Commodities Exchange
- Indian Energy Exchange, India
- Standard Chartered Bank - UAE
- TNB Fuel Sdn Bhd - Malaysia
- Essar Steel Hazira Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Renaissance Capital - South Africa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kohat Cement Company Ltd. - Pakistan
- Planning Commission, India
- Samtan Co., Ltd - South Korea
- Kartika Selabumi Mining - Indonesia
- Thiess Contractors Indonesia
- Borneo Indobara - Indonesia
- Carbofer General Trading SA - India
- South Luzon Thermal Energy Corporation
- Energy Link Ltd, New Zealand
- Cigading International Bulk Terminal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Commonwealth Bank - Australia
- Sojitz Corporation - Japan
- Bank of Tokyo Mitsubishi UFJ Ltd
- TeaM Sual Corporation - Philippines
- Iligan Light & Power Inc, Philippines
- Madhucon Powers Ltd - India
- GVK Power & Infra Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Global Business Power Corporation, Philippines
- Energy Development Corp, Philippines
- Sakthi Sugars Limited - India
- McConnell Dowell - Australia
- European Bulk Services B.V. - Netherlands
- Malabar Cements Ltd - India
- Rio Tinto Coal - Australia
- Mercator Lines Limited - India
- Goldman Sachs - Singapore
- Ministry of Finance - Indonesia
- Kepco SPC Power Corporation, Philippines
- Videocon Industries ltd - India
- Jaiprakash Power Ventures ltd
- Tata Chemicals Ltd - India
- ICICI Bank Limited - India
- Mintek Dendrill Indonesia
- Holcim Trading Pte Ltd - Singapore
- Indian Oil Corporation Limited
- Sarangani Energy Corporation, Philippines
- Power Finance Corporation Ltd., India
- Timah Investasi Mineral - Indoneisa
- New Zealand Coal & Carbon
- Kumho Petrochemical, South Korea
- GMR Energy Limited - India
- VISA Power Limited - India
- Riau Bara Harum - Indonesia
- Lanco Infratech Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- GAC Shipping (India) Pvt Ltd
- SN Aboitiz Power Inc, Philippines
- Bharathi Cement Corporation - India
- Ceylon Electricity Board - Sri Lanka
- Interocean Group of Companies - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ambuja Cements Ltd - India
- Bhoruka Overseas - Indonesia
- Edison Trading Spa - Italy
- Dalmia Cement Bharat India
- Port Waratah Coal Services - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Wood Mackenzie - Singapore
- PNOC Exploration Corporation - Philippines
- Barasentosa Lestari - Indonesia
- Metalloyd Limited - United Kingdom
- CIMB Investment Bank - Malaysia
- Electricity Generating Authority of Thailand
- Siam City Cement - Thailand
- Aditya Birla Group - India
- Indogreen Group - Indonesia
- OPG Power Generation Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- India Bulls Power Limited - India
- ASAPP Information Group - India
- Sree Jayajothi Cements Limited - India
- Meralco Power Generation, Philippines
- LBH Netherlands Bv - Netherlands
- Chettinad Cement Corporation Ltd - India
- Jindal Steel & Power Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Singapore Mercantile Exchange
- Independent Power Producers Association of India
- Jorong Barutama Greston.PT - Indonesia
- Therma Luzon, Inc, Philippines
- Oldendorff Carriers - Singapore
- Parliament of New Zealand
- Xindia Steels Limited - India
- Directorate Of Revenue Intelligence - India
- Uttam Galva Steels Limited - India
- Semirara Mining Corp, Philippines
- Bangladesh Power Developement Board
- Orica Australia Pty. Ltd.
- Petrochimia International Co. Ltd.- Taiwan
- Intertek Mineral Services - Indonesia
- Anglo American - United Kingdom
- SMC Global Power, Philippines
- Tamil Nadu electricity Board
- Kaltim Prima Coal - Indonesia
- Antam Resourcindo - Indonesia
- Bukit Baiduri Energy - Indonesia
- Latin American Coal - Colombia
- Global Coal Blending Company Limited - Australia
- Semirara Mining and Power Corporation, Philippines
- Makarim & Taira - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Posco Energy - South Korea
- Directorate General of MIneral and Coal - Indonesia
- CNBM International Corporation - China
- Kalimantan Lumbung Energi - Indonesia
- Parry Sugars Refinery, India
- Sical Logistics Limited - India
- Minerals Council of Australia
- AsiaOL BioFuels Corp., Philippines
- Cement Manufacturers Association - India
- IHS Mccloskey Coal Group - USA
- Merrill Lynch Commodities Europe
- Orica Mining Services - Indonesia
- San Jose City I Power Corp, Philippines
- Price Waterhouse Coopers - Russia
- Sinarmas Energy and Mining - Indonesia
- Wilmar Investment Holdings
- Billiton Holdings Pty Ltd - Australia
- Electricity Authority, New Zealand
- White Energy Company Limited
- Indonesian Coal Mining Association
- Australian Commodity Traders Exchange
- Coastal Gujarat Power Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Ind-Barath Power Infra Limited - India
- Siam City Cement PLC, Thailand
- Kideco Jaya Agung - Indonesia
- Mercuria Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- Salva Resources Pvt Ltd - India
- Thai Mozambique Logistica
- The University of Queensland
- London Commodity Brokers - England
- Karaikal Port Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Meenaskhi Energy Private Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Makmur.PT - Indonesia
- Marubeni Corporation - India
- Vizag Seaport Private Limited - India
- Gujarat Electricity Regulatory Commission - India
- Attock Cement Pakistan Limited
- The State Trading Corporation of India Ltd
- Simpson Spence & Young - Indonesia
- Grasim Industreis Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Petron Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Pendopo Energi Batubara - Indonesia
- Coal and Oil Company - UAE
- Straits Asia Resources Limited - Singapore
- Deloitte Consulting - India
- Ministry of Mines - Canada
- Central Electricity Authority - India
- Heidelberg Cement - Germany
- MS Steel International - UAE
- Medco Energi Mining Internasional
- Indo Tambangraya Megah - Indonesia
- Central Java Power - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Trasteel International SA, Italy
- Star Paper Mills Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- International Coal Ventures Pvt Ltd - India
- The Treasury - Australian Government
- Africa Commodities Group - South Africa
- Maheswari Brothers Coal Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Indika Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Mjunction Services Limited - India
- Banpu Public Company Limited - Thailand
- Gujarat Sidhee Cement - India
- Kapuas Tunggal Persada - Indonesia
- Bhatia International Limited - India
- Eastern Energy - Thailand
- Global Green Power PLC Corporation, Philippines
- Larsen & Toubro Limited - India
- Krishnapatnam Port Company Ltd. - India
- SMG Consultants - Indonesia
- Kobexindo Tractors - Indoneisa
- Baramulti Group, Indonesia
- Alfred C Toepfer International GmbH - Germany
- Formosa Plastics Group - Taiwan
- Georgia Ports Authority, United States
- IEA Clean Coal Centre - UK
- Vedanta Resources Plc - India
- Coalindo Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Bulk Trading Sa - Switzerland
- Bahari Cakrawala Sebuku - Indonesia
- Agrawal Coal Company - India
- PTC India Limited - India
- Miang Besar Coal Terminal - Indonesia
- Eastern Coal Council - USA
- Globalindo Alam Lestari - Indonesia
- PowerSource Philippines DevCo
- Binh Thuan Hamico - Vietnam
- Australian Coal Association
- Bhushan Steel Limited - India
- Ministry of Transport, Egypt
- Gujarat Mineral Development Corp Ltd - India
- Economic Council, Georgia
- Chamber of Mines of South Africa
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