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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, 28 January 14
DRY BULK SHIP OWNERS RETREAT TO OLD 'HABITS', REFUSING TO DEMOLISH OLD VESSELS, THREATENING MARKET RECOVERY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
If one thing is clear as we reflect on the 2013 shipping markets, it's that ship owners took advantage of low prices, in order to acquire newer ton ...
Monday, 27 January 14
MERCATOR SINGAPORE REPORTS 52% INCREASE IN EBITDA FOR Q3 FY 2014 AS COMPARED TO PREVIOUS QUARTER
COALspot.com: Mercator Lines (Singapore) Limited, a leading Indian-owned international dry bulk shipping company that operates a fleet of fourteen d ...
Monday, 27 January 14
13TH CLEAN COAL FORUM 2014
COALspot.com: (Press Release) - Produced by CDMC Events, The 13th Clean Coal Forum 2014 will be held on June 12 &13 2014 in Beijing, China. We a ...
Monday, 27 January 14
Q3 & Q4 API 8 CFR SOUTH CHINA COAL SWAPS CONTINUE TO REMAIN WEAK
COALspot.com: API 8 CFR South China Coal swaps for average Q1 14 delivery lost 4.45 percent month on month and closed at US$ 79.05 per mt as on Frid ...
Monday, 27 January 14
Q3 2014 SUB-BIT INDONESIA COAL SWAP LOST GROUND, ENDS AT $60 PMT
COALspot.com – Sub-Bit Indonesia coal swap (FOB) for average Q1’ 14 delivery lost 2.29% pmt month on month on Friday 24 January 2014. Th ...
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- Rashtriya Ispat Nigam Limited - India
- Goldman Sachs - Singapore
- Dalmia Cement Bharat India
- Georgia Ports Authority, United States
- Mintek Dendrill Indonesia
- Ambuja Cements Ltd - India
- Sindya Power Generating Company Private Ltd
- Gujarat Sidhee Cement - India
- PowerSource Philippines DevCo
- International Coal Ventures Pvt Ltd - India
- Siam City Cement - Thailand
- Planning Commission, India
- Mercuria Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Malabar Cements Ltd - India
- Central Electricity Authority - India
- Vizag Seaport Private Limited - India
- Straits Asia Resources Limited - Singapore
- IEA Clean Coal Centre - UK
- ICICI Bank Limited - India
- Timah Investasi Mineral - Indoneisa
- Coal and Oil Company - UAE
- Anglo American - United Kingdom
- Manunggal Multi Energi - Indonesia
- New Zealand Coal & Carbon
- San Jose City I Power Corp, Philippines
- Xindia Steels Limited - India
- Grasim Industreis Ltd - India
- London Commodity Brokers - England
- GN Power Mariveles Coal Plant, Philippines
- Medco Energi Mining Internasional
- Antam Resourcindo - Indonesia
- Toyota Tsusho Corporation, Japan
- Standard Chartered Bank - UAE
- Kobexindo Tractors - Indoneisa
- Bukit Makmur.PT - Indonesia
- TeaM Sual Corporation - Philippines
- Agrawal Coal Company - India
- Australian Commodity Traders Exchange
- Formosa Plastics Group - Taiwan
- Jorong Barutama Greston.PT - Indonesia
- Bhushan Steel Limited - India
- Merrill Lynch Commodities Europe
- India Bulls Power Limited - India
- The State Trading Corporation of India Ltd
- White Energy Company Limited
- Marubeni Corporation - India
- Aditya Birla Group - India
- GAC Shipping (India) Pvt Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- CNBM International Corporation - China
- Price Waterhouse Coopers - Russia
- MS Steel International - UAE
- Heidelberg Cement - Germany
- Eastern Energy - Thailand
- Salva Resources Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Ind-Barath Power Infra Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Therma Luzon, Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Interocean Group of Companies - India
- OPG Power Generation Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Sree Jayajothi Cements Limited - India
- Semirara Mining Corp, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- Deloitte Consulting - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kohat Cement Company Ltd. - Pakistan
- Mjunction Services Limited - India
- Makarim & Taira - Indonesia
- Riau Bara Harum - Indonesia
- Indika Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Madhucon Powers Ltd - India
- Carbofer General Trading SA - India
- Posco Energy - South Korea
- Tamil Nadu electricity Board
- Commonwealth Bank - Australia
- The Treasury - Australian Government
- Vedanta Resources Plc - India
- GVK Power & Infra Limited - India
- Borneo Indobara - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Directorate General of MIneral and Coal - Indonesia
- ASAPP Information Group - India
- Chamber of Mines of South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Edison Trading Spa - Italy
- Bangladesh Power Developement Board
- Baramulti Group, Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Tata Chemicals Ltd - India
- Savvy Resources Ltd - HongKong
- Trasteel International SA, Italy
- GMR Energy Limited - India
- Global Business Power Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Parliament of New Zealand
- Simpson Spence & Young - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Economic Council, Georgia
- Ministry of Finance - Indonesia
- Barasentosa Lestari - Indonesia
- Sical Logistics Limited - India
- McConnell Dowell - Australia
- Indogreen Group - Indonesia
- Thai Mozambique Logistica
- Meralco Power Generation, Philippines
- Thiess Contractors Indonesia
- SN Aboitiz Power Inc, Philippines
- Bulk Trading Sa - Switzerland
- Oldendorff Carriers - Singapore
- Electricity Authority, New Zealand
- Intertek Mineral Services - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bhoruka Overseas - Indonesia
- Orica Mining Services - Indonesia
- Ministry of Transport, Egypt
- Karbindo Abesyapradhi - Indoneisa
- Binh Thuan Hamico - Vietnam
- Semirara Mining and Power Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Jaiprakash Power Ventures ltd
- Sarangani Energy Corporation, Philippines
- Rio Tinto Coal - Australia
- Parry Sugars Refinery, India
- South Luzon Thermal Energy Corporation
- Aboitiz Power Corporation - Philippines
- Krishnapatnam Port Company Ltd. - India
- Gujarat Mineral Development Corp Ltd - India
- Kepco SPC Power Corporation, Philippines
- Altura Mining Limited, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Mercator Lines Limited - India
- Kumho Petrochemical, South Korea
- Wilmar Investment Holdings
- Larsen & Toubro Limited - India
- LBH Netherlands Bv - Netherlands
- Kaltim Prima Coal - Indonesia
- Bharathi Cement Corporation - India
- Romanian Commodities Exchange
- Essar Steel Hazira Ltd - India
- Globalindo Alam Lestari - Indonesia
- European Bulk Services B.V. - Netherlands
- Indonesian Coal Mining Association
- Energy Development Corp, Philippines
- SMC Global Power, Philippines
- Directorate Of Revenue Intelligence - India
- IHS Mccloskey Coal Group - USA
- Alfred C Toepfer International GmbH - Germany
- Port Waratah Coal Services - Australia
- Attock Cement Pakistan Limited
- Renaissance Capital - South Africa
- The University of Queensland
- Uttam Galva Steels Limited - India
- Coastal Gujarat Power Limited - India
- Orica Australia Pty. Ltd.
- Iligan Light & Power Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Chettinad Cement Corporation Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Karaikal Port Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Minerals Council of Australia
- Electricity Generating Authority of Thailand
- Holcim Trading Pte Ltd - Singapore
- Kartika Selabumi Mining - Indonesia
- Videocon Industries ltd - India
- PNOC Exploration Corporation - Philippines
- Sakthi Sugars Limited - India
- Global Green Power PLC Corporation, Philippines
- Ministry of Mines - Canada
- Australian Coal Association
- Asmin Koalindo Tuhup - Indonesia
- Indian Energy Exchange, India
- Miang Besar Coal Terminal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Cement Manufacturers Association - India
- SMG Consultants - Indonesia
- Bayan Resources Tbk. - Indonesia
- Latin American Coal - Colombia
- Samtan Co., Ltd - South Korea
- Pendopo Energi Batubara - Indonesia
- Independent Power Producers Association of India
- Star Paper Mills Limited - India
- Energy Link Ltd, New Zealand
- Kideco Jaya Agung - Indonesia
- VISA Power Limited - India
- AsiaOL BioFuels Corp., Philippines
- Central Java Power - Indonesia
- Banpu Public Company Limited - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Kalimantan Lumbung Energi - Indonesia
- Eastern Coal Council - USA
- Coalindo Energy - Indonesia
- Lanco Infratech Ltd - India
- Petron Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Bhatia International Limited - India
- Singapore Mercantile Exchange
- Wood Mackenzie - Singapore
- Ceylon Electricity Board - Sri Lanka
- Power Finance Corporation Ltd., India
- Sojitz Corporation - Japan
- Indian Oil Corporation Limited
- Meenaskhi Energy Private Limited - India
- PTC India Limited - India
- Africa Commodities Group - South Africa
- Jindal Steel & Power Ltd - India
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