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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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Sunday, 16 February 14
SUPRAMAX : THE FAR EAST/SE ASIA CHARTER RATES FIRMED UP
COALspot.com: The freight market had a mixed reaction this week with BDI increased by 1.37 pct and closing at 1106 points on Valentine day. The cape ...
Friday, 14 February 14
US COAL PRODUCTION STILL SLIPPING
COALspot.com – United States the world’s second largest coal producer, produced approximately 17.9 million short tons (mmst) of coal in ...
Thursday, 13 February 14
PANAMAX : NOT ENOUGH REQUIREMENTS TO KEEP THE ATLANTIC MARKET FLOATING - FEARNLEYS AS
Handy
After the Chinese holidays the week started on a positive note. Owners are talking higher rates but chrtrs are still somehow reluctant to mov ...
Thursday, 13 February 14
DRY BULK MARKET FACES BETTER PROSPECTS ON THE BACK OF IMPROVING DEMAND AND SUPPLY BALANCE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market has started off the New Year on the "left foot", with the strong finish of 2013 proving to be unsustainable, on the ba ...
Wednesday, 12 February 14
NEW BUILDING ORDERS REACHING NEW POST-CRISIS HEIGHTS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Ship owners are looking to take advantage of the last few attractive deals in the new building market, before prices start climbing to new highs and ...
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- Price Waterhouse Coopers - Russia
- Kepco SPC Power Corporation, Philippines
- Star Paper Mills Limited - India
- Grasim Industreis Ltd - India
- Chettinad Cement Corporation Ltd - India
- Planning Commission, India
- Orica Mining Services - Indonesia
- Tata Chemicals Ltd - India
- Medco Energi Mining Internasional
- Bangladesh Power Developement Board
- Therma Luzon, Inc, Philippines
- Energy Development Corp, Philippines
- Bhoruka Overseas - Indonesia
- Mjunction Services Limited - India
- Manunggal Multi Energi - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Ambuja Cements Ltd - India
- Posco Energy - South Korea
- Timah Investasi Mineral - Indoneisa
- Gujarat Mineral Development Corp Ltd - India
- Karaikal Port Pvt Ltd - India
- Lanco Infratech Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- White Energy Company Limited
- IEA Clean Coal Centre - UK
- Global Coal Blending Company Limited - Australia
- Kideco Jaya Agung - Indonesia
- Romanian Commodities Exchange
- Commonwealth Bank - Australia
- Thai Mozambique Logistica
- Cement Manufacturers Association - India
- Bulk Trading Sa - Switzerland
- Agrawal Coal Company - India
- Sojitz Corporation - Japan
- Kaltim Prima Coal - Indonesia
- Indogreen Group - Indonesia
- Australian Coal Association
- Georgia Ports Authority, United States
- Bukit Asam (Persero) Tbk - Indonesia
- Petron Corporation, Philippines
- Thiess Contractors Indonesia
- Power Finance Corporation Ltd., India
- Binh Thuan Hamico - Vietnam
- Indian Energy Exchange, India
- Simpson Spence & Young - Indonesia
- Merrill Lynch Commodities Europe
- Sical Logistics Limited - India
- Baramulti Group, Indonesia
- Independent Power Producers Association of India
- Vijayanagar Sugar Pvt Ltd - India
- Africa Commodities Group - South Africa
- Wilmar Investment Holdings
- Kumho Petrochemical, South Korea
- Indian Oil Corporation Limited
- Iligan Light & Power Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Orica Australia Pty. Ltd.
- Trasteel International SA, Italy
- Maharashtra Electricity Regulatory Commission - India
- Uttam Galva Steels Limited - India
- GN Power Mariveles Coal Plant, Philippines
- New Zealand Coal & Carbon
- Meralco Power Generation, Philippines
- Marubeni Corporation - India
- Malabar Cements Ltd - India
- Barasentosa Lestari - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- LBH Netherlands Bv - Netherlands
- South Luzon Thermal Energy Corporation
- CIMB Investment Bank - Malaysia
- Ministry of Mines - Canada
- Kohat Cement Company Ltd. - Pakistan
- Leighton Contractors Pty Ltd - Australia
- Sindya Power Generating Company Private Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Renaissance Capital - South Africa
- San Jose City I Power Corp, Philippines
- Sakthi Sugars Limited - India
- PNOC Exploration Corporation - Philippines
- SMG Consultants - Indonesia
- Australian Commodity Traders Exchange
- Parliament of New Zealand
- Heidelberg Cement - Germany
- PetroVietnam Power Coal Import and Supply Company
- Indonesian Coal Mining Association
- Formosa Plastics Group - Taiwan
- Altura Mining Limited, Indonesia
- Tamil Nadu electricity Board
- Eastern Energy - Thailand
- Antam Resourcindo - Indonesia
- Makarim & Taira - Indonesia
- India Bulls Power Limited - India
- Gujarat Sidhee Cement - India
- Kartika Selabumi Mining - Indonesia
- Global Business Power Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Makmur.PT - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sarangani Energy Corporation, Philippines
- Ministry of Transport, Egypt
- Directorate Of Revenue Intelligence - India
- SMC Global Power, Philippines
- Mercuria Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- TeaM Sual Corporation - Philippines
- GMR Energy Limited - India
- ICICI Bank Limited - India
- Savvy Resources Ltd - HongKong
- MS Steel International - UAE
- Siam City Cement PLC, Thailand
- ASAPP Information Group - India
- Carbofer General Trading SA - India
- Interocean Group of Companies - India
- Jindal Steel & Power Ltd - India
- Singapore Mercantile Exchange
- Banpu Public Company Limited - Thailand
- Meenaskhi Energy Private Limited - India
- Coastal Gujarat Power Limited - India
- Borneo Indobara - Indonesia
- Bhatia International Limited - India
- Xindia Steels Limited - India
- Miang Besar Coal Terminal - Indonesia
- Coalindo Energy - Indonesia
- Latin American Coal - Colombia
- Riau Bara Harum - Indonesia
- Salva Resources Pvt Ltd - India
- Central Java Power - Indonesia
- Indika Energy - Indonesia
- Dalmia Cement Bharat India
- Samtan Co., Ltd - South Korea
- Madhucon Powers Ltd - India
- Siam City Cement - Thailand
- Oldendorff Carriers - Singapore
- Jaiprakash Power Ventures ltd
- Electricity Generating Authority of Thailand
- OPG Power Generation Pvt Ltd - India
- Semirara Mining Corp, Philippines
- PTC India Limited - India
- Holcim Trading Pte Ltd - Singapore
- Edison Trading Spa - Italy
- Wood Mackenzie - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Krishnapatnam Port Company Ltd. - India
- SN Aboitiz Power Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Anglo American - United Kingdom
- Central Electricity Authority - India
- Alfred C Toepfer International GmbH - Germany
- Bhushan Steel Limited - India
- Goldman Sachs - Singapore
- Globalindo Alam Lestari - Indonesia
- London Commodity Brokers - England
- Ceylon Electricity Board - Sri Lanka
- Semirara Mining and Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Standard Chartered Bank - UAE
- VISA Power Limited - India
- Mercator Lines Limited - India
- AsiaOL BioFuels Corp., Philippines
- CNBM International Corporation - China
- Indo Tambangraya Megah - Indonesia
- Bukit Baiduri Energy - Indonesia
- Rio Tinto Coal - Australia
- Pendopo Energi Batubara - Indonesia
- Larsen & Toubro Limited - India
- Electricity Authority, New Zealand
- Essar Steel Hazira Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- PowerSource Philippines DevCo
- Intertek Mineral Services - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Directorate General of MIneral and Coal - Indonesia
- McConnell Dowell - Australia
- Eastern Coal Council - USA
- IHS Mccloskey Coal Group - USA
- Minerals Council of Australia
- Deloitte Consulting - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Chamber of Mines of South Africa
- The Treasury - Australian Government
- Port Waratah Coal Services - Australia
- Vizag Seaport Private Limited - India
- Billiton Holdings Pty Ltd - Australia
- GVK Power & Infra Limited - India
- GAC Shipping (India) Pvt Ltd
- Metalloyd Limited - United Kingdom
- Energy Link Ltd, New Zealand
- Bayan Resources Tbk. - Indonesia
- Parry Sugars Refinery, India
- Petrochimia International Co. Ltd.- Taiwan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Bharathi Cement Corporation - India
- Aboitiz Power Corporation - Philippines
- Attock Cement Pakistan Limited
- Toyota Tsusho Corporation, Japan
- Rashtriya Ispat Nigam Limited - India
- Videocon Industries ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Kapuas Tunggal Persada - Indonesia
- Ministry of Finance - Indonesia
- Maheswari Brothers Coal Limited - India
- The State Trading Corporation of India Ltd
- Kobexindo Tractors - Indoneisa
- European Bulk Services B.V. - Netherlands
- Vedanta Resources Plc - India
- Kalimantan Lumbung Energi - Indonesia
- Economic Council, Georgia
- Ind-Barath Power Infra Limited - India
- Aditya Birla Group - India
- Coal and Oil Company - UAE
- The University of Queensland
- International Coal Ventures Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Mintek Dendrill Indonesia
- Asmin Koalindo Tuhup - Indonesia
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