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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, 09 January 14
THE SHIPPING MARKET IN 2013 AND LOOKING FORWARD GLOBAL ECONOMY: STEADY AS SHE GOES UPWARDS - BIMCO
Over the past year, developed economies have gained traction while developing and emerging economies have suffered from slower growth. Despite key e ...
Wednesday, 08 January 14
DRY BULK MARKET PROSPECTS LOOKING BRIGHTER DESPITE SLOW START TO THE NEW YEAR - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Despite the fact that the dry bulk market's benchmark, the BDI has been on a fall since the start of 2014, ending yesterday's session down to 1,87 ...
Wednesday, 08 January 14
AUSTRALIAN NEWCASTLE PORT'S WEEKLY COAL EXPORTS FALL
COALspot.com: In the week ended January 6, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensland, totalled 3.27 m ...
Wednesday, 08 January 14
THE DRY BULK MARKET HAS LOST SOME OF ITS STEAM THESE PAST COUPLE OF DAYS: INTERMODAL
Chartering (Wet: Softer- / Dry: Softer- )
The Dry Bulk market has lost some of its steam these past couple of days although hires, espe ...
Wednesday, 08 January 14
SHIPPING: THE ABSOLUTE BOTTOM OF THE CYCLE WAS REACHED AND PASSED - GEORGE LAZARIDIS
COALspot.com: To many in the industry 2013 has been the turning point in the market where the absolute bottom of the cycle was reached and passed.
...
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- Indonesian Coal Mining Association
- MS Steel International - UAE
- London Commodity Brokers - England
- Bayan Resources Tbk. - Indonesia
- Orica Australia Pty. Ltd.
- Maharashtra Electricity Regulatory Commission - India
- Global Coal Blending Company Limited - Australia
- Electricity Authority, New Zealand
- Antam Resourcindo - Indonesia
- Maheswari Brothers Coal Limited - India
- Videocon Industries ltd - India
- Indian Energy Exchange, India
- Sarangani Energy Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Therma Luzon, Inc, Philippines
- The Treasury - Australian Government
- Posco Energy - South Korea
- PowerSource Philippines DevCo
- Australian Coal Association
- Africa Commodities Group - South Africa
- Baramulti Group, Indonesia
- Savvy Resources Ltd - HongKong
- IHS Mccloskey Coal Group - USA
- Chettinad Cement Corporation Ltd - India
- Siam City Cement - Thailand
- Orica Mining Services - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Mines - Canada
- Lanco Infratech Ltd - India
- Independent Power Producers Association of India
- Tata Chemicals Ltd - India
- Coal and Oil Company - UAE
- Gujarat Sidhee Cement - India
- Timah Investasi Mineral - Indoneisa
- Energy Development Corp, Philippines
- Sree Jayajothi Cements Limited - India
- Trasteel International SA, Italy
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Leighton Contractors Pty Ltd - Australia
- ICICI Bank Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Kideco Jaya Agung - Indonesia
- Bhoruka Overseas - Indonesia
- Economic Council, Georgia
- Altura Mining Limited, Indonesia
- Central Electricity Authority - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Essar Steel Hazira Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Samtan Co., Ltd - South Korea
- Standard Chartered Bank - UAE
- GVK Power & Infra Limited - India
- Sinarmas Energy and Mining - Indonesia
- The University of Queensland
- Ministry of Finance - Indonesia
- Deloitte Consulting - India
- Cigading International Bulk Terminal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Eastern Coal Council - USA
- Ambuja Cements Ltd - India
- International Coal Ventures Pvt Ltd - India
- India Bulls Power Limited - India
- Mercuria Energy - Indonesia
- Oldendorff Carriers - Singapore
- The State Trading Corporation of India Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Kumho Petrochemical, South Korea
- Agrawal Coal Company - India
- Price Waterhouse Coopers - Russia
- Mercator Lines Limited - India
- Vizag Seaport Private Limited - India
- Anglo American - United Kingdom
- Makarim & Taira - Indonesia
- Merrill Lynch Commodities Europe
- Ceylon Electricity Board - Sri Lanka
- Jindal Steel & Power Ltd - India
- Central Java Power - Indonesia
- Coalindo Energy - Indonesia
- SMG Consultants - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Aditya Birla Group - India
- Semirara Mining and Power Corporation, Philippines
- Energy Link Ltd, New Zealand
- Kartika Selabumi Mining - Indonesia
- SN Aboitiz Power Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Planning Commission, India
- Global Green Power PLC Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Meenaskhi Energy Private Limited - India
- Salva Resources Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Singapore Mercantile Exchange
- Georgia Ports Authority, United States
- Star Paper Mills Limited - India
- Carbofer General Trading SA - India
- Jaiprakash Power Ventures ltd
- European Bulk Services B.V. - Netherlands
- Pendopo Energi Batubara - Indonesia
- VISA Power Limited - India
- Krishnapatnam Port Company Ltd. - India
- Australian Commodity Traders Exchange
- Ministry of Transport, Egypt
- Indogreen Group - Indonesia
- Siam City Cement PLC, Thailand
- Bulk Trading Sa - Switzerland
- Minerals Council of Australia
- Mjunction Services Limited - India
- Ind-Barath Power Infra Limited - India
- Rio Tinto Coal - Australia
- Romanian Commodities Exchange
- Xindia Steels Limited - India
- Petron Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Malabar Cements Ltd - India
- Semirara Mining Corp, Philippines
- Edison Trading Spa - Italy
- Power Finance Corporation Ltd., India
- Globalindo Alam Lestari - Indonesia
- Tamil Nadu electricity Board
- PetroVietnam Power Coal Import and Supply Company
- Petrochimia International Co. Ltd.- Taiwan
- Billiton Holdings Pty Ltd - Australia
- Vedanta Resources Plc - India
- Coastal Gujarat Power Limited - India
- Renaissance Capital - South Africa
- PNOC Exploration Corporation - Philippines
- Meralco Power Generation, Philippines
- Bangladesh Power Developement Board
- Global Business Power Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Uttam Galva Steels Limited - India
- Port Waratah Coal Services - Australia
- Grasim Industreis Ltd - India
- Goldman Sachs - Singapore
- Formosa Plastics Group - Taiwan
- Iligan Light & Power Inc, Philippines
- Riau Bara Harum - Indonesia
- New Zealand Coal & Carbon
- Parry Sugars Refinery, India
- Holcim Trading Pte Ltd - Singapore
- Latin American Coal - Colombia
- Bukit Baiduri Energy - Indonesia
- Thai Mozambique Logistica
- Directorate General of MIneral and Coal - Indonesia
- SMC Global Power, Philippines
- South Luzon Thermal Energy Corporation
- Straits Asia Resources Limited - Singapore
- Dalmia Cement Bharat India
- Heidelberg Cement - Germany
- Neyveli Lignite Corporation Ltd, - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Wood Mackenzie - Singapore
- Attock Cement Pakistan Limited
- White Energy Company Limited
- McConnell Dowell - Australia
- PTC India Limited - India
- Interocean Group of Companies - India
- Electricity Generating Authority of Thailand
- Jorong Barutama Greston.PT - Indonesia
- Directorate Of Revenue Intelligence - India
- Chamber of Mines of South Africa
- Indika Energy - Indonesia
- GMR Energy Limited - India
- Gujarat Electricity Regulatory Commission - India
- Sindya Power Generating Company Private Ltd
- Kepco SPC Power Corporation, Philippines
- Medco Energi Mining Internasional
- TeaM Sual Corporation - Philippines
- Borneo Indobara - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sakthi Sugars Limited - India
- Kapuas Tunggal Persada - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Toyota Tsusho Corporation, Japan
- CNBM International Corporation - China
- Marubeni Corporation - India
- Kohat Cement Company Ltd. - Pakistan
- Eastern Energy - Thailand
- Sojitz Corporation - Japan
- Sical Logistics Limited - India
- Madhucon Powers Ltd - India
- Bukit Makmur.PT - Indonesia
- Larsen & Toubro Limited - India
- ASAPP Information Group - India
- Kaltim Prima Coal - Indonesia
- Mintek Dendrill Indonesia
- CIMB Investment Bank - Malaysia
- Commonwealth Bank - Australia
- IEA Clean Coal Centre - UK
- Miang Besar Coal Terminal - Indonesia
- Bharathi Cement Corporation - India
- Indo Tambangraya Megah - Indonesia
- Manunggal Multi Energi - Indonesia
- Indian Oil Corporation Limited
- GN Power Mariveles Coal Plant, Philippines
- Wilmar Investment Holdings
- San Jose City I Power Corp, Philippines
- LBH Netherlands Bv - Netherlands
- Metalloyd Limited - United Kingdom
- OPG Power Generation Pvt Ltd - India
- Cement Manufacturers Association - India
- AsiaOL BioFuels Corp., Philippines
- Banpu Public Company Limited - Thailand
- Parliament of New Zealand
- Bhushan Steel Limited - India
- GAC Shipping (India) Pvt Ltd
- Simpson Spence & Young - Indonesia
- Bhatia International Limited - India
- Barasentosa Lestari - Indonesia
- Thiess Contractors Indonesia
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