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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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Saturday, 30 November 13
NTPC STARTED IMPORTING COAL THROUGH NW1 FOR ITS FARAKKA POWER PLANT
COALspot.com: In a pioneering and path breaking operation, the very first consignment of about 69,060 metric tons of imported coal bought by MV HUAY ...
Friday, 29 November 13
DRY BULK MARKET BACK ON HIGHER GROUND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market is strengthening as a result of higher demand for Capesize vessels. The BDI (Baltic Dry Index) was up by 146 points yesterday, e ...
Wednesday, 27 November 13
DRY SEGMENTS EXCEPTION OF PANAMAXES, REMAINED OVERALL STABLE - INTERMODAL
COALspot.com : The Dry Bulk market closed off the week in the red, albeit the decrease noted was of short scale. With the exception of Panamaxes, th ...
Wednesday, 27 November 13
US WHEAT IMPORTS TO BRAZIL, REACHED A 35 - YEAR HIGH - EVA TZIMA
COALspot.com: As I am going through a number of dry market fixtures reported since the beginning of October, my eyes instinctively stop where they d ...
Wednesday, 27 November 13
SHIP OWNERS ONCE AGAIN TURN TO DRY BULK CARRIERS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Ship owners once again turned to more dry bulk carrier ordering over the course of the past week, as more and more appear convinced of the industry ...
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- Metalloyd Limited - United Kingdom
- Georgia Ports Authority, United States
- GVK Power & Infra Limited - India
- Formosa Plastics Group - Taiwan
- Deloitte Consulting - India
- Siam City Cement PLC, Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Larsen & Toubro Limited - India
- Bharathi Cement Corporation - India
- Sinarmas Energy and Mining - Indonesia
- Vedanta Resources Plc - India
- Altura Mining Limited, Indonesia
- IEA Clean Coal Centre - UK
- Intertek Mineral Services - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Kohat Cement Company Ltd. - Pakistan
- Power Finance Corporation Ltd., India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- IHS Mccloskey Coal Group - USA
- Global Business Power Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Marubeni Corporation - India
- Australian Coal Association
- Thai Mozambique Logistica
- Leighton Contractors Pty Ltd - Australia
- Neyveli Lignite Corporation Ltd, - India
- McConnell Dowell - Australia
- Medco Energi Mining Internasional
- Independent Power Producers Association of India
- Antam Resourcindo - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Semirara Mining and Power Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Heidelberg Cement - Germany
- New Zealand Coal & Carbon
- The University of Queensland
- Directorate General of MIneral and Coal - Indonesia
- Coalindo Energy - Indonesia
- Indika Energy - Indonesia
- Salva Resources Pvt Ltd - India
- Anglo American - United Kingdom
- Sical Logistics Limited - India
- Grasim Industreis Ltd - India
- Ambuja Cements Ltd - India
- Borneo Indobara - Indonesia
- Videocon Industries ltd - India
- Bayan Resources Tbk. - Indonesia
- Toyota Tsusho Corporation, Japan
- Pendopo Energi Batubara - Indonesia
- London Commodity Brokers - England
- Cigading International Bulk Terminal - Indonesia
- Lanco Infratech Ltd - India
- Kartika Selabumi Mining - Indonesia
- SMC Global Power, Philippines
- Parry Sugars Refinery, India
- Agrawal Coal Company - India
- Gujarat Electricity Regulatory Commission - India
- India Bulls Power Limited - India
- Singapore Mercantile Exchange
- Jindal Steel & Power Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- GAC Shipping (India) Pvt Ltd
- GMR Energy Limited - India
- Indo Tambangraya Megah - Indonesia
- Ind-Barath Power Infra Limited - India
- Indian Oil Corporation Limited
- Miang Besar Coal Terminal - Indonesia
- Central Electricity Authority - India
- White Energy Company Limited
- Globalindo Alam Lestari - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Indonesian Coal Mining Association
- Mercuria Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Uttam Galva Steels Limited - India
- Latin American Coal - Colombia
- Mercator Lines Limited - India
- Banpu Public Company Limited - Thailand
- Holcim Trading Pte Ltd - Singapore
- Eastern Coal Council - USA
- Siam City Cement - Thailand
- International Coal Ventures Pvt Ltd - India
- ICICI Bank Limited - India
- Posco Energy - South Korea
- Ministry of Mines - Canada
- Australian Commodity Traders Exchange
- Bulk Trading Sa - Switzerland
- Economic Council, Georgia
- Energy Link Ltd, New Zealand
- Therma Luzon, Inc, Philippines
- Sojitz Corporation - Japan
- Coal and Oil Company - UAE
- Energy Development Corp, Philippines
- Maheswari Brothers Coal Limited - India
- Sindya Power Generating Company Private Ltd
- CIMB Investment Bank - Malaysia
- Dalmia Cement Bharat India
- Planning Commission, India
- Parliament of New Zealand
- Price Waterhouse Coopers - Russia
- LBH Netherlands Bv - Netherlands
- Kideco Jaya Agung - Indonesia
- San Jose City I Power Corp, Philippines
- Commonwealth Bank - Australia
- Baramulti Group, Indonesia
- Bukit Baiduri Energy - Indonesia
- Semirara Mining Corp, Philippines
- Coastal Gujarat Power Limited - India
- Madhucon Powers Ltd - India
- Meralco Power Generation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Port Waratah Coal Services - Australia
- Global Green Power PLC Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Carbofer General Trading SA - India
- Global Coal Blending Company Limited - Australia
- Attock Cement Pakistan Limited
- Bank of Tokyo Mitsubishi UFJ Ltd
- European Bulk Services B.V. - Netherlands
- Indian Energy Exchange, India
- ASAPP Information Group - India
- Electricity Authority, New Zealand
- Interocean Group of Companies - India
- Bhatia International Limited - India
- Central Java Power - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Jaiprakash Power Ventures ltd
- Jorong Barutama Greston.PT - Indonesia
- Standard Chartered Bank - UAE
- Romanian Commodities Exchange
- Samtan Co., Ltd - South Korea
- Riau Bara Harum - Indonesia
- Wilmar Investment Holdings
- Oldendorff Carriers - Singapore
- Makarim & Taira - Indonesia
- Mjunction Services Limited - India
- Aboitiz Power Corporation - Philippines
- Petrochimia International Co. Ltd.- Taiwan
- South Luzon Thermal Energy Corporation
- Bukit Asam (Persero) Tbk - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Orica Mining Services - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- PNOC Exploration Corporation - Philippines
- Iligan Light & Power Inc, Philippines
- Merrill Lynch Commodities Europe
- Timah Investasi Mineral - Indoneisa
- Edison Trading Spa - Italy
- Kumho Petrochemical, South Korea
- Africa Commodities Group - South Africa
- Bhoruka Overseas - Indonesia
- Electricity Generating Authority of Thailand
- Star Paper Mills Limited - India
- Gujarat Mineral Development Corp Ltd - India
- The State Trading Corporation of India Ltd
- Rio Tinto Coal - Australia
- Kalimantan Lumbung Energi - Indonesia
- Rashtriya Ispat Nigam Limited - India
- CNBM International Corporation - China
- Aditya Birla Group - India
- Tata Chemicals Ltd - India
- PTC India Limited - India
- Trasteel International SA, Italy
- Sakthi Sugars Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Renaissance Capital - South Africa
- Goldman Sachs - Singapore
- Kobexindo Tractors - Indoneisa
- Thiess Contractors Indonesia
- Kaltim Prima Coal - Indonesia
- Petron Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Manunggal Multi Energi - Indonesia
- Bangladesh Power Developement Board
- Ministry of Finance - Indonesia
- Bhushan Steel Limited - India
- SMG Consultants - Indonesia
- MS Steel International - UAE
- Karbindo Abesyapradhi - Indoneisa
- Meenaskhi Energy Private Limited - India
- Indogreen Group - Indonesia
- Chamber of Mines of South Africa
- Orica Australia Pty. Ltd.
- Barasentosa Lestari - Indonesia
- Tamil Nadu electricity Board
- Essar Steel Hazira Ltd - India
- Minerals Council of Australia
- The Treasury - Australian Government
- Wood Mackenzie - Singapore
- Malabar Cements Ltd - India
- Vizag Seaport Private Limited - India
- Simpson Spence & Young - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PowerSource Philippines DevCo
- Savvy Resources Ltd - HongKong
- Sree Jayajothi Cements Limited - India
- VISA Power Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- TeaM Sual Corporation - Philippines
- Gujarat Sidhee Cement - India
- Ministry of Transport, Egypt
- Ceylon Electricity Board - Sri Lanka
- Karaikal Port Pvt Ltd - India
- Eastern Energy - Thailand
- Cement Manufacturers Association - India
- Billiton Holdings Pty Ltd - Australia
- Mintek Dendrill Indonesia
- Bukit Makmur.PT - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- SN Aboitiz Power Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Xindia Steels Limited - India
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