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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, 02 May 14
DRY BULK MARKET SHOWING SIGNS OF COMEBACK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market which has been hovering below the 1,000-point market (BDI) during the past couple of weeks, could be exhibiting signs of a s ...
Thursday, 01 May 14
INDONESIA EXPORT BAN POINTS TO QUESTIONS OVER CHINA'S LONG-TERM BAUXITE SUPPLY - WOOD MACKENZIE
China’s Bauxite demand forecast to reach 240 million tonnes by 2030
In light of the Indonesian mineral ore ban that came into force o ...
Thursday, 01 May 14
DRY BULK MARKET STILL REELING UNDER PRESSURE FROM VARIOUS FACTORS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market's revival is still overdue, as the industry's benchmark, the BDI is still lagging below the 1,000-point mark. In fac ...
Wednesday, 30 April 14
FREIGHT MARKET FOR DRY BULKERS STILL REMAINS WEAK - INTERMODAL
One week after the Easter holiday and the celebration for the resurrection of Christ, everybody expected to see a similar sign of a revival in t ...
Tuesday, 29 April 14
Q4 SUB-BIT INDONESIA COAL SWAP CLOSED US$ 1.07 HIGHER COMPARED TO Q2 DELIVERY PRICE
COALspot.com: Indonesian coal swaps for average Q2’ 2014 gain on month and on week according to AsiaClear OTC coal swap's reports rele ...
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- Baramulti Group, Indonesia
- Ind-Barath Power Infra Limited - India
- New Zealand Coal & Carbon
- Bharathi Cement Corporation - India
- South Luzon Thermal Energy Corporation
- Coal and Oil Company - UAE
- Kohat Cement Company Ltd. - Pakistan
- Thiess Contractors Indonesia
- Renaissance Capital - South Africa
- Indika Energy - Indonesia
- Anglo American - United Kingdom
- Maharashtra Electricity Regulatory Commission - India
- Semirara Mining and Power Corporation, Philippines
- Planning Commission, India
- Edison Trading Spa - Italy
- Energy Development Corp, Philippines
- Goldman Sachs - Singapore
- Billiton Holdings Pty Ltd - Australia
- PetroVietnam Power Coal Import and Supply Company
- Central Electricity Authority - India
- Global Business Power Corporation, Philippines
- Electricity Generating Authority of Thailand
- Kobexindo Tractors - Indoneisa
- Global Green Power PLC Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Sree Jayajothi Cements Limited - India
- Metalloyd Limited - United Kingdom
- Manunggal Multi Energi - Indonesia
- Petron Corporation, Philippines
- Ministry of Mines - Canada
- VISA Power Limited - India
- Port Waratah Coal Services - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Uttam Galva Steels Limited - India
- Iligan Light & Power Inc, Philippines
- PowerSource Philippines DevCo
- Price Waterhouse Coopers - Russia
- SMG Consultants - Indonesia
- Siam City Cement - Thailand
- Eastern Energy - Thailand
- Electricity Authority, New Zealand
- Intertek Mineral Services - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Indonesian Coal Mining Association
- Riau Bara Harum - Indonesia
- Indian Oil Corporation Limited
- Sinarmas Energy and Mining - Indonesia
- McConnell Dowell - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Lanco Infratech Ltd - India
- Eastern Coal Council - USA
- Trasteel International SA, Italy
- Offshore Bulk Terminal Pte Ltd, Singapore
- Alfred C Toepfer International GmbH - Germany
- Savvy Resources Ltd - HongKong
- Meenaskhi Energy Private Limited - India
- Singapore Mercantile Exchange
- Marubeni Corporation - India
- Bhoruka Overseas - Indonesia
- Romanian Commodities Exchange
- Directorate Of Revenue Intelligence - India
- Karbindo Abesyapradhi - Indoneisa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Altura Mining Limited, Indonesia
- Sindya Power Generating Company Private Ltd
- Therma Luzon, Inc, Philippines
- Madhucon Powers Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- White Energy Company Limited
- London Commodity Brokers - England
- Bukit Makmur.PT - Indonesia
- Energy Link Ltd, New Zealand
- AsiaOL BioFuels Corp., Philippines
- Ambuja Cements Ltd - India
- GVK Power & Infra Limited - India
- Australian Commodity Traders Exchange
- Sarangani Energy Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- GMR Energy Limited - India
- Cigading International Bulk Terminal - Indonesia
- Posco Energy - South Korea
- Coalindo Energy - Indonesia
- Gujarat Sidhee Cement - India
- Indogreen Group - Indonesia
- PTC India Limited - India
- Cement Manufacturers Association - India
- Thai Mozambique Logistica
- Minerals Council of Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Jaiprakash Power Ventures ltd
- Ministry of Transport, Egypt
- ASAPP Information Group - India
- Deloitte Consulting - India
- CNBM International Corporation - China
- Holcim Trading Pte Ltd - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Orica Australia Pty. Ltd.
- Mercator Lines Limited - India
- Commonwealth Bank - Australia
- Standard Chartered Bank - UAE
- Pendopo Energi Batubara - Indonesia
- Aboitiz Power Corporation - Philippines
- PNOC Exploration Corporation - Philippines
- IEA Clean Coal Centre - UK
- Bhushan Steel Limited - India
- Tamil Nadu electricity Board
- Medco Energi Mining Internasional
- Aditya Birla Group - India
- Bayan Resources Tbk. - Indonesia
- Semirara Mining Corp, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Miang Besar Coal Terminal - Indonesia
- San Jose City I Power Corp, Philippines
- Malabar Cements Ltd - India
- Bulk Trading Sa - Switzerland
- Parry Sugars Refinery, India
- Petrochimia International Co. Ltd.- Taiwan
- Agrawal Coal Company - India
- Carbofer General Trading SA - India
- Bangladesh Power Developement Board
- Parliament of New Zealand
- Economic Council, Georgia
- International Coal Ventures Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Kumho Petrochemical, South Korea
- Neyveli Lignite Corporation Ltd, - India
- India Bulls Power Limited - India
- Sojitz Corporation - Japan
- Ministry of Finance - Indonesia
- Xindia Steels Limited - India
- Interocean Group of Companies - India
- GN Power Mariveles Coal Plant, Philippines
- Kepco SPC Power Corporation, Philippines
- The Treasury - Australian Government
- Orica Mining Services - Indonesia
- Dalmia Cement Bharat India
- Rashtriya Ispat Nigam Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- The University of Queensland
- Tata Chemicals Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Antam Resourcindo - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Bhatia International Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Kaltim Prima Coal - Indonesia
- Star Paper Mills Limited - India
- GAC Shipping (India) Pvt Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- MS Steel International - UAE
- Meralco Power Generation, Philippines
- Larsen & Toubro Limited - India
- Maheswari Brothers Coal Limited - India
- Samtan Co., Ltd - South Korea
- Chamber of Mines of South Africa
- Siam City Cement PLC, Thailand
- Leighton Contractors Pty Ltd - Australia
- Simpson Spence & Young - Indonesia
- Independent Power Producers Association of India
- Latin American Coal - Colombia
- Jorong Barutama Greston.PT - Indonesia
- Binh Thuan Hamico - Vietnam
- Power Finance Corporation Ltd., India
- TeaM Sual Corporation - Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Chettinad Cement Corporation Ltd - India
- Vizag Seaport Private Limited - India
- Georgia Ports Authority, United States
- Sakthi Sugars Limited - India
- LBH Netherlands Bv - Netherlands
- Global Coal Blending Company Limited - Australia
- Heidelberg Cement - Germany
- Indian Energy Exchange, India
- European Bulk Services B.V. - Netherlands
- IHS Mccloskey Coal Group - USA
- Kartika Selabumi Mining - Indonesia
- Attock Cement Pakistan Limited
- CIMB Investment Bank - Malaysia
- Salva Resources Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- TNB Fuel Sdn Bhd - Malaysia
- Merrill Lynch Commodities Europe
- Borneo Indobara - Indonesia
- Africa Commodities Group - South Africa
- Mjunction Services Limited - India
- SMC Global Power, Philippines
- Essar Steel Hazira Ltd - India
- Oldendorff Carriers - Singapore
- Sical Logistics Limited - India
- Mercuria Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- Barasentosa Lestari - Indonesia
- The State Trading Corporation of India Ltd
- Globalindo Alam Lestari - Indonesia
- Central Java Power - Indonesia
- Mintek Dendrill Indonesia
- Formosa Plastics Group - Taiwan
- Vedanta Resources Plc - India
- Wilmar Investment Holdings
- Kideco Jaya Agung - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Rio Tinto Coal - Australia
- Wood Mackenzie - Singapore
- Makarim & Taira - Indonesia
- Straits Asia Resources Limited - Singapore
- SN Aboitiz Power Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Videocon Industries ltd - India
- Jindal Steel & Power Ltd - India
- Coastal Gujarat Power Limited - India
- ICICI Bank Limited - India
- Australian Coal Association
- Grasim Industreis Ltd - India
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