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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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Thursday, 30 January 14
PANAMAX MARKET IS SOFTENING ON LESS ACTIVITY IN BOTH HEMISPHERES - FEARNRESEARCH
Handy
In the Atlantic rates have been slowly sliding but ows can still achieve decent money for TArv´s. USG positions still being fixed in re ...
Thursday, 30 January 14
TANKER PROFITABILITY IS THE 'MILLION-DOLLAR' QUESTION FOR SHIP OWNERS THIS YEAR - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The tanker market conditions are expected to remain challenging throughout the year for tanker owners, but even more pressing will be the issue of a ...
Tuesday, 28 January 14
GLOBAL COKING AND STEAM COAL PRODUCTION HAVE GROWN 2% TO 3% TO ABOUT 7.1 BILLION TONNES AS OF THE END OF 2013 - VDKI
COALspot.com (Press Release): Initial figures on the world hard coal market at the VDKi ((Association of Coal Importers - German) New Year’s R ...
Tuesday, 28 January 14
AUSTRALIAN NEWCASTLE PORT'S WEEKLY COAL EXPORTS JUMP 13.75% WEEK ON WEEK
COALspot.com: In the week ended 27 January 2014, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensland, totalled ...
Tuesday, 28 January 14
RESOURCE NATIONALISM OR PROTECTIONISM FOR THE MINING AND EXTRACTIVES INDUSTRY - JOHN WHITTAKER & MICHAEL SWANGARD
Resource nationalism or protectionism for the mining and extractives industry as well as soft commodities sector and the oil industry.
‘Res ...
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- Standard Chartered Bank - UAE
- Borneo Indobara - Indonesia
- Malabar Cements Ltd - India
- Bhatia International Limited - India
- Ministry of Transport, Egypt
- Offshore Bulk Terminal Pte Ltd, Singapore
- Aditya Birla Group - India
- VISA Power Limited - India
- Price Waterhouse Coopers - Russia
- Orica Australia Pty. Ltd.
- Parliament of New Zealand
- Mintek Dendrill Indonesia
- Eastern Energy - Thailand
- Parry Sugars Refinery, India
- Singapore Mercantile Exchange
- Karaikal Port Pvt Ltd - India
- Petron Corporation, Philippines
- Anglo American - United Kingdom
- Aboitiz Power Corporation - Philippines
- Thiess Contractors Indonesia
- Energy Development Corp, Philippines
- Power Finance Corporation Ltd., India
- European Bulk Services B.V. - Netherlands
- Sojitz Corporation - Japan
- Coal and Oil Company - UAE
- Eastern Coal Council - USA
- Krishnapatnam Port Company Ltd. - India
- Port Waratah Coal Services - Australia
- Kalimantan Lumbung Energi - Indonesia
- Energy Link Ltd, New Zealand
- Minerals Council of Australia
- Bayan Resources Tbk. - Indonesia
- Sarangani Energy Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- International Coal Ventures Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Antam Resourcindo - Indonesia
- Jaiprakash Power Ventures ltd
- Billiton Holdings Pty Ltd - Australia
- Cement Manufacturers Association - India
- Renaissance Capital - South Africa
- Bulk Trading Sa - Switzerland
- SMC Global Power, Philippines
- Binh Thuan Hamico - Vietnam
- Bharathi Cement Corporation - India
- Pipit Mutiara Jaya. PT, Indonesia
- Mercator Lines Limited - India
- Interocean Group of Companies - India
- Timah Investasi Mineral - Indoneisa
- Electricity Authority, New Zealand
- Bhushan Steel Limited - India
- Chettinad Cement Corporation Ltd - India
- Australian Coal Association
- Gujarat Sidhee Cement - India
- McConnell Dowell - Australia
- ASAPP Information Group - India
- Toyota Tsusho Corporation, Japan
- Pendopo Energi Batubara - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Uttam Galva Steels Limited - India
- Planning Commission, India
- Directorate Of Revenue Intelligence - India
- Mjunction Services Limited - India
- Savvy Resources Ltd - HongKong
- PetroVietnam Power Coal Import and Supply Company
- Tamil Nadu electricity Board
- Wood Mackenzie - Singapore
- Gujarat Electricity Regulatory Commission - India
- Bukit Baiduri Energy - Indonesia
- Madhucon Powers Ltd - India
- Vedanta Resources Plc - India
- Wilmar Investment Holdings
- San Jose City I Power Corp, Philippines
- Globalindo Alam Lestari - Indonesia
- Orica Mining Services - Indonesia
- MS Steel International - UAE
- Coastal Gujarat Power Limited - India
- Chamber of Mines of South Africa
- Iligan Light & Power Inc, Philippines
- Samtan Co., Ltd - South Korea
- White Energy Company Limited
- Rashtriya Ispat Nigam Limited - India
- CNBM International Corporation - China
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- The Treasury - Australian Government
- Goldman Sachs - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Simpson Spence & Young - Indonesia
- Commonwealth Bank - Australia
- Sinarmas Energy and Mining - Indonesia
- Indo Tambangraya Megah - Indonesia
- South Luzon Thermal Energy Corporation
- Sindya Power Generating Company Private Ltd
- Leighton Contractors Pty Ltd - Australia
- Maharashtra Electricity Regulatory Commission - India
- Therma Luzon, Inc, Philippines
- Bhoruka Overseas - Indonesia
- Electricity Generating Authority of Thailand
- LBH Netherlands Bv - Netherlands
- SMG Consultants - Indonesia
- Thai Mozambique Logistica
- TeaM Sual Corporation - Philippines
- Semirara Mining Corp, Philippines
- Baramulti Group, Indonesia
- Makarim & Taira - Indonesia
- Ministry of Mines - Canada
- Alfred C Toepfer International GmbH - Germany
- Central Electricity Authority - India
- PNOC Exploration Corporation - Philippines
- Australian Commodity Traders Exchange
- Sical Logistics Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- GVK Power & Infra Limited - India
- GAC Shipping (India) Pvt Ltd
- Heidelberg Cement - Germany
- Indonesian Coal Mining Association
- PowerSource Philippines DevCo
- Ambuja Cements Ltd - India
- Kartika Selabumi Mining - Indonesia
- Larsen & Toubro Limited - India
- Global Business Power Corporation, Philippines
- GMR Energy Limited - India
- Kumho Petrochemical, South Korea
- Global Coal Blending Company Limited - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Oldendorff Carriers - Singapore
- Xindia Steels Limited - India
- Vizag Seaport Private Limited - India
- India Bulls Power Limited - India
- SN Aboitiz Power Inc, Philippines
- Mercuria Energy - Indonesia
- Trasteel International SA, Italy
- Romanian Commodities Exchange
- Ind-Barath Power Infra Limited - India
- Ceylon Electricity Board - Sri Lanka
- The State Trading Corporation of India Ltd
- Cigading International Bulk Terminal - Indonesia
- Formosa Plastics Group - Taiwan
- Kepco SPC Power Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Central Java Power - Indonesia
- Meenaskhi Energy Private Limited - India
- Georgia Ports Authority, United States
- Indogreen Group - Indonesia
- Bukit Makmur.PT - Indonesia
- Kobexindo Tractors - Indoneisa
- Karbindo Abesyapradhi - Indoneisa
- Altura Mining Limited, Indonesia
- PTC India Limited - India
- Siam City Cement - Thailand
- Manunggal Multi Energi - Indonesia
- Tata Chemicals Ltd - India
- Merrill Lynch Commodities Europe
- Economic Council, Georgia
- Star Paper Mills Limited - India
- Dalmia Cement Bharat India
- Attock Cement Pakistan Limited
- Bangladesh Power Developement Board
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Medco Energi Mining Internasional
- Asmin Koalindo Tuhup - Indonesia
- Deloitte Consulting - India
- Barasentosa Lestari - Indonesia
- Rio Tinto Coal - Australia
- Miang Besar Coal Terminal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Indian Energy Exchange, India
- Marubeni Corporation - India
- CIMB Investment Bank - Malaysia
- Videocon Industries ltd - India
- Meralco Power Generation, Philippines
- Maheswari Brothers Coal Limited - India
- Edison Trading Spa - Italy
- Straits Asia Resources Limited - Singapore
- Siam City Cement PLC, Thailand
- London Commodity Brokers - England
- Indian Oil Corporation Limited
- Essar Steel Hazira Ltd - India
- ICICI Bank Limited - India
- Independent Power Producers Association of India
- TNB Fuel Sdn Bhd - Malaysia
- Lanco Infratech Ltd - India
- Sree Jayajothi Cements Limited - India
- Riau Bara Harum - Indonesia
- New Zealand Coal & Carbon
- Vijayanagar Sugar Pvt Ltd - India
- Grasim Industreis Ltd - India
- Intertek Mineral Services - Indonesia
- The University of Queensland
- Kohat Cement Company Ltd. - Pakistan
- Kaltim Prima Coal - Indonesia
- Jindal Steel & Power Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Agrawal Coal Company - India
- IHS Mccloskey Coal Group - USA
- Carbofer General Trading SA - India
- Sakthi Sugars Limited - India
- Metalloyd Limited - United Kingdom
- Banpu Public Company Limited - Thailand
- Indika Energy - Indonesia
- IEA Clean Coal Centre - UK
- Coalindo Energy - Indonesia
- Latin American Coal - Colombia
- Global Green Power PLC Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Posco Energy - South Korea
- Kideco Jaya Agung - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Ministry of Finance - Indonesia
- Africa Commodities Group - South Africa
- OPG Power Generation Pvt Ltd - India
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