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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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Tuesday, 22 April 14
INDONESIAN MARCH COAL EXPORT VOLUME SURGE 9.12% TO 35.54 MMT
COALspot.com: Indonesia, one of the world's largest coal producer and the global largest multi grade coal exporter shipped around $1.9 ...
Tuesday, 22 April 14
NEWCASTLE WEEKLY COAL EXPORTS FELL 13.33% THIS PAST WEEK
COALspot.com: In the week ended 07:00 hours 21 April 2014, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensl ...
Monday, 21 April 14
Q1'15 SUB-BIT FOB INDONESIA COAL SWAP SHOWING A POSITIVE TREND
COALspot.com: Indonesian coal swaps for average Q2’ 2014 gain on month and on week according to AsiaClear OTC coal swap's reports rele ...
Monday, 21 April 14
Q4 2014 AND Q1 2015 COAL SWAPS CLOSED MARGINALLY HIGHER COMPARED TO Q2 PRICES
COALspot.com: API 8 CFR South China Coal swaps for average Q2 14 deliveries gained 0.87 percent month on month and closed at US$ 76.15 per mt as ...
Monday, 21 April 14
DRY BULK MARKET UPS AND - MOST RECENTLY - DOWNS OFFERS NO ROOM FOR RELAXING AMONG DRY BULK SHIP OWNERS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market's latest demise, with the market retrating once again, since the end of March, has come at a time, when most ship owners ...
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- Vedanta Resources Plc - India
- Latin American Coal - Colombia
- GAC Shipping (India) Pvt Ltd
- Maheswari Brothers Coal Limited - India
- Romanian Commodities Exchange
- Vizag Seaport Private Limited - India
- Australian Commodity Traders Exchange
- Global Green Power PLC Corporation, Philippines
- Central Java Power - Indonesia
- Bangladesh Power Developement Board
- Samtan Co., Ltd - South Korea
- Sarangani Energy Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Posco Energy - South Korea
- Directorate Of Revenue Intelligence - India
- Goldman Sachs - Singapore
- Sojitz Corporation - Japan
- GN Power Mariveles Coal Plant, Philippines
- Economic Council, Georgia
- Ministry of Transport, Egypt
- CIMB Investment Bank - Malaysia
- Renaissance Capital - South Africa
- Tamil Nadu electricity Board
- Baramulti Group, Indonesia
- Malabar Cements Ltd - India
- IEA Clean Coal Centre - UK
- Kalimantan Lumbung Energi - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Miang Besar Coal Terminal - Indonesia
- European Bulk Services B.V. - Netherlands
- Karaikal Port Pvt Ltd - India
- Indika Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Aboitiz Power Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- MS Steel International - UAE
- Sical Logistics Limited - India
- Attock Cement Pakistan Limited
- Price Waterhouse Coopers - Russia
- Bulk Trading Sa - Switzerland
- Independent Power Producers Association of India
- Mercator Lines Limited - India
- TeaM Sual Corporation - Philippines
- Thai Mozambique Logistica
- Indian Energy Exchange, India
- London Commodity Brokers - England
- Directorate General of MIneral and Coal - Indonesia
- ICICI Bank Limited - India
- Mercuria Energy - Indonesia
- Dalmia Cement Bharat India
- Straits Asia Resources Limited - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Rio Tinto Coal - Australia
- Medco Energi Mining Internasional
- Bayan Resources Tbk. - Indonesia
- Globalindo Alam Lestari - Indonesia
- Power Finance Corporation Ltd., India
- Africa Commodities Group - South Africa
- Karbindo Abesyapradhi - Indoneisa
- Anglo American - United Kingdom
- Kideco Jaya Agung - Indonesia
- Kepco SPC Power Corporation, Philippines
- Indian Oil Corporation Limited
- Essar Steel Hazira Ltd - India
- Ministry of Finance - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Madhucon Powers Ltd - India
- Bukit Baiduri Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Gujarat Mineral Development Corp Ltd - India
- Petron Corporation, Philippines
- Chamber of Mines of South Africa
- Cement Manufacturers Association - India
- Bhoruka Overseas - Indonesia
- Eastern Coal Council - USA
- Sakthi Sugars Limited - India
- Ind-Barath Power Infra Limited - India
- Chettinad Cement Corporation Ltd - India
- Meralco Power Generation, Philippines
- SMC Global Power, Philippines
- Energy Link Ltd, New Zealand
- Altura Mining Limited, Indonesia
- Mjunction Services Limited - India
- Salva Resources Pvt Ltd - India
- VISA Power Limited - India
- Oldendorff Carriers - Singapore
- Makarim & Taira - Indonesia
- Pendopo Energi Batubara - Indonesia
- Bhatia International Limited - India
- McConnell Dowell - Australia
- Uttam Galva Steels Limited - India
- Semirara Mining Corp, Philippines
- Manunggal Multi Energi - Indonesia
- Marubeni Corporation - India
- Ceylon Electricity Board - Sri Lanka
- Jorong Barutama Greston.PT - Indonesia
- Toyota Tsusho Corporation, Japan
- CNBM International Corporation - China
- South Luzon Thermal Energy Corporation
- PowerSource Philippines DevCo
- Simpson Spence & Young - Indonesia
- The State Trading Corporation of India Ltd
- Coal and Oil Company - UAE
- Energy Development Corp, Philippines
- Jaiprakash Power Ventures ltd
- Kapuas Tunggal Persada - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Bhushan Steel Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Kumho Petrochemical, South Korea
- Orica Australia Pty. Ltd.
- Billiton Holdings Pty Ltd - Australia
- Larsen & Toubro Limited - India
- Leighton Contractors Pty Ltd - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- SN Aboitiz Power Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Commonwealth Bank - Australia
- Orica Mining Services - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Ministry of Mines - Canada
- Merrill Lynch Commodities Europe
- Agrawal Coal Company - India
- The Treasury - Australian Government
- Metalloyd Limited - United Kingdom
- Global Business Power Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Georgia Ports Authority, United States
- Standard Chartered Bank - UAE
- Formosa Plastics Group - Taiwan
- Deloitte Consulting - India
- GVK Power & Infra Limited - India
- Edison Trading Spa - Italy
- Timah Investasi Mineral - Indoneisa
- Gujarat Sidhee Cement - India
- Heidelberg Cement - Germany
- PTC India Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- International Coal Ventures Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Aditya Birla Group - India
- Mintek Dendrill Indonesia
- Bukit Makmur.PT - Indonesia
- IHS Mccloskey Coal Group - USA
- Videocon Industries ltd - India
- Interocean Group of Companies - India
- Antam Resourcindo - Indonesia
- San Jose City I Power Corp, Philippines
- New Zealand Coal & Carbon
- Grasim Industreis Ltd - India
- Banpu Public Company Limited - Thailand
- Riau Bara Harum - Indonesia
- ASAPP Information Group - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Eastern Energy - Thailand
- Holcim Trading Pte Ltd - Singapore
- Sindya Power Generating Company Private Ltd
- Rashtriya Ispat Nigam Limited - India
- Global Coal Blending Company Limited - Australia
- Borneo Indobara - Indonesia
- Sree Jayajothi Cements Limited - India
- Port Waratah Coal Services - Australia
- Neyveli Lignite Corporation Ltd, - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Singapore Mercantile Exchange
- Wood Mackenzie - Singapore
- Kaltim Prima Coal - Indonesia
- White Energy Company Limited
- Australian Coal Association
- Electricity Generating Authority of Thailand
- Trasteel International SA, Italy
- Parry Sugars Refinery, India
- Central Electricity Authority - India
- The University of Queensland
- Star Paper Mills Limited - India
- Siam City Cement - Thailand
- Siam City Cement PLC, Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Thiess Contractors Indonesia
- LBH Netherlands Bv - Netherlands
- Coastal Gujarat Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- India Bulls Power Limited - India
- Indonesian Coal Mining Association
- Meenaskhi Energy Private Limited - India
- AsiaOL BioFuels Corp., Philippines
- GMR Energy Limited - India
- Savvy Resources Ltd - HongKong
- Barasentosa Lestari - Indonesia
- Tata Chemicals Ltd - India
- PNOC Exploration Corporation - Philippines
- Indogreen Group - Indonesia
- Xindia Steels Limited - India
- SMG Consultants - Indonesia
- Coalindo Energy - Indonesia
- Intertek Mineral Services - Indonesia
- Minerals Council of Australia
- Wilmar Investment Holdings
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Lanco Infratech Ltd - India
- Bharathi Cement Corporation - India
- OPG Power Generation Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Iligan Light & Power Inc, Philippines
- Ambuja Cements Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Parliament of New Zealand
- Jindal Steel & Power Ltd - India
- Planning Commission, India
- Carbofer General Trading SA - India
- Binh Thuan Hamico - Vietnam
- Therma Luzon, Inc, Philippines
- Electricity Authority, New Zealand
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