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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, 04 March 14
HIGHER PRICES AND STEADY FREIGHT RATES LEAD SHIP OWNERS TO TEMPORARILY HALT SECOND HAND VESSEL PURCHASES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
As the dry bulk market has kept on improving, but at a very slow rate, ship owners have elected to take a step back from the flurry of the S&P m ...
Monday, 03 March 14
SUB-BIT INDONESIA COAL SWAP (FOB) FOR AVERAGE Q115 CLOSED AT $60.28, $ 1.70 HIGHER THAN 2Q14
COALspot.com – Indonesia, the world’s largest exporter of the thermal coal's swaps for delivery April - June 2014 slightly corrected do ...
Monday, 03 March 14
API 8 CFR SOUTH CHINA SWAPS: Q4' 2014 DELIVERY CLOSED US$ 1.40 HIGHER COMPARED TO Q2' 2014 DELIVERY
COALspot.com: API 8 CFR South China Coal swaps for average Q2 14 deliveries lost 1.90 percent month on month and closed at US$ 76.27 per mt as on Fr ...
Monday, 03 March 14
COSTS LIABILITY PASSING DOWN A CHARTERPARTY CHAIN - SKULD
KNOWLEDGE TO ELEVATE
Provided that charterparties are on back to back terms, and the claim is successful, liability for costs incurred shoul ...
Sunday, 02 March 14
THE FREIGHT MARKET WAS STEADY TO FIRM THIS PAST WEEK - CAPT. REDDY
COALspot.com: The freight market was steady to firm this past week. The BDI was up 7.06 pct and closed at 1258 points and the cape index was also fi ...
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- TNB Fuel Sdn Bhd - Malaysia
- Standard Chartered Bank - UAE
- Bhushan Steel Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Vizag Seaport Private Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Electricity Authority, New Zealand
- Eastern Coal Council - USA
- Altura Mining Limited, Indonesia
- South Luzon Thermal Energy Corporation
- Pipit Mutiara Jaya. PT, Indonesia
- Barasentosa Lestari - Indonesia
- Economic Council, Georgia
- Mercator Lines Limited - India
- Uttam Galva Steels Limited - India
- Georgia Ports Authority, United States
- Thai Mozambique Logistica
- European Bulk Services B.V. - Netherlands
- Medco Energi Mining Internasional
- Mercuria Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Semirara Mining Corp, Philippines
- Sojitz Corporation - Japan
- Essar Steel Hazira Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Baramulti Group, Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Power Finance Corporation Ltd., India
- Price Waterhouse Coopers - Russia
- Bhoruka Overseas - Indonesia
- White Energy Company Limited
- Kobexindo Tractors - Indoneisa
- Antam Resourcindo - Indonesia
- Interocean Group of Companies - India
- Bharathi Cement Corporation - India
- Heidelberg Cement - Germany
- Gujarat Sidhee Cement - India
- Edison Trading Spa - Italy
- Wood Mackenzie - Singapore
- Energy Development Corp, Philippines
- Merrill Lynch Commodities Europe
- Bukit Makmur.PT - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Siam City Cement PLC, Thailand
- Maheswari Brothers Coal Limited - India
- Sical Logistics Limited - India
- Independent Power Producers Association of India
- Savvy Resources Ltd - HongKong
- Vedanta Resources Plc - India
- Straits Asia Resources Limited - Singapore
- Gujarat Electricity Regulatory Commission - India
- Siam City Cement - Thailand
- Samtan Co., Ltd - South Korea
- Commonwealth Bank - Australia
- SN Aboitiz Power Inc, Philippines
- Tata Chemicals Ltd - India
- Meralco Power Generation, Philippines
- London Commodity Brokers - England
- Formosa Plastics Group - Taiwan
- Simpson Spence & Young - Indonesia
- Jindal Steel & Power Ltd - India
- Petron Corporation, Philippines
- Metalloyd Limited - United Kingdom
- LBH Netherlands Bv - Netherlands
- Sinarmas Energy and Mining - Indonesia
- International Coal Ventures Pvt Ltd - India
- Ambuja Cements Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Pendopo Energi Batubara - Indonesia
- GAC Shipping (India) Pvt Ltd
- Grasim Industreis Ltd - India
- MS Steel International - UAE
- Binh Thuan Hamico - Vietnam
- Manunggal Multi Energi - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Kartika Selabumi Mining - Indonesia
- PNOC Exploration Corporation - Philippines
- Electricity Generating Authority of Thailand
- Australian Coal Association
- Directorate Of Revenue Intelligence - India
- Vijayanagar Sugar Pvt Ltd - India
- CNBM International Corporation - China
- PowerSource Philippines DevCo
- Aditya Birla Group - India
- ASAPP Information Group - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Carbofer General Trading SA - India
- Trasteel International SA, Italy
- Iligan Light & Power Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Latin American Coal - Colombia
- Lanco Infratech Ltd - India
- New Zealand Coal & Carbon
- Bahari Cakrawala Sebuku - Indonesia
- Coastal Gujarat Power Limited - India
- Central Electricity Authority - India
- Alfred C Toepfer International GmbH - Germany
- Makarim & Taira - Indonesia
- Romanian Commodities Exchange
- Bhatia International Limited - India
- Banpu Public Company Limited - Thailand
- VISA Power Limited - India
- Coalindo Energy - Indonesia
- Intertek Mineral Services - Indonesia
- Sakthi Sugars Limited - India
- Goldman Sachs - Singapore
- Attock Cement Pakistan Limited
- Indogreen Group - Indonesia
- Meenaskhi Energy Private Limited - India
- Salva Resources Pvt Ltd - India
- Larsen & Toubro Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Minerals Council of Australia
- The University of Queensland
- GVK Power & Infra Limited - India
- Marubeni Corporation - India
- Toyota Tsusho Corporation, Japan
- Africa Commodities Group - South Africa
- GN Power Mariveles Coal Plant, Philippines
- Miang Besar Coal Terminal - Indonesia
- Planning Commission, India
- AsiaOL BioFuels Corp., Philippines
- Parliament of New Zealand
- Australian Commodity Traders Exchange
- Chettinad Cement Corporation Ltd - India
- Indian Energy Exchange, India
- Posco Energy - South Korea
- Kepco SPC Power Corporation, Philippines
- Chamber of Mines of South Africa
- Ministry of Finance - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Orica Australia Pty. Ltd.
- Singapore Mercantile Exchange
- Renaissance Capital - South Africa
- Mintek Dendrill Indonesia
- Kalimantan Lumbung Energi - Indonesia
- IEA Clean Coal Centre - UK
- The Treasury - Australian Government
- Indian Oil Corporation Limited
- TeaM Sual Corporation - Philippines
- Xindia Steels Limited - India
- Indo Tambangraya Megah - Indonesia
- Bangladesh Power Developement Board
- ICICI Bank Limited - India
- Timah Investasi Mineral - Indoneisa
- Kideco Jaya Agung - Indonesia
- Madhucon Powers Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indonesian Coal Mining Association
- Mjunction Services Limited - India
- Deloitte Consulting - India
- Directorate General of MIneral and Coal - Indonesia
- Jaiprakash Power Ventures ltd
- Therma Luzon, Inc, Philippines
- Central Java Power - Indonesia
- GMR Energy Limited - India
- Oldendorff Carriers - Singapore
- Ministry of Mines - Canada
- The State Trading Corporation of India Ltd
- Sarangani Energy Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- Ministry of Transport, Egypt
- OPG Power Generation Pvt Ltd - India
- SMG Consultants - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Indika Energy - Indonesia
- Thiess Contractors Indonesia
- Semirara Mining and Power Corporation, Philippines
- Anglo American - United Kingdom
- Borneo Indobara - Indonesia
- Agrawal Coal Company - India
- Parry Sugars Refinery, India
- SMC Global Power, Philippines
- Port Waratah Coal Services - Australia
- Videocon Industries ltd - India
- San Jose City I Power Corp, Philippines
- Leighton Contractors Pty Ltd - Australia
- Billiton Holdings Pty Ltd - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Wilmar Investment Holdings
- IHS Mccloskey Coal Group - USA
- Eastern Energy - Thailand
- Star Paper Mills Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- CIMB Investment Bank - Malaysia
- Malabar Cements Ltd - India
- Ind-Barath Power Infra Limited - India
- McConnell Dowell - Australia
- Energy Link Ltd, New Zealand
- India Bulls Power Limited - India
- Krishnapatnam Port Company Ltd. - India
- PetroVietnam Power Coal Import and Supply Company
- Global Business Power Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Holcim Trading Pte Ltd - Singapore
- Cement Manufacturers Association - India
- Dalmia Cement Bharat India
- Bulk Trading Sa - Switzerland
- Tamil Nadu electricity Board
- Cigading International Bulk Terminal - Indonesia
- Orica Mining Services - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Rio Tinto Coal - Australia
- Kumho Petrochemical, South Korea
- Bank of Tokyo Mitsubishi UFJ Ltd
- Global Coal Blending Company Limited - Australia
- Riau Bara Harum - Indonesia
- Globalindo Alam Lestari - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Global Green Power PLC Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Coal and Oil Company - UAE
- PTC India Limited - India
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