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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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Friday, 22 November 13
DRY BULK MARKET STILL LACKLUSTRE, DESPITE PROJECTIONS OF A NEW RALLY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
We might still be about six weeks far from the end of the year, but the projected by many analysts upcoming rally of the dry bulk market, hasn't ye ...
Friday, 22 November 13
US COAL PRODUCTION DOWN 1.3% W-W
COALspot.com – United States the world’s second largest coal producer, produced approximately 19.5 million short tons (mmst) of coal in ...
Thursday, 21 November 13
TAIPOWER TO PROCURE 750K MT OF 5500 GAR BITUMINOUS COAL FOR MAY - AUGUST 2014
COALspot.com: Taiwan Power Company intends to procure 750,000 metric tons of bituminous coal with calorific value not lesser than 5,500 kcal/kg on a ...
Thursday, 21 November 13
CAPESIZE : THE DOWNWARD TREND HAS TURNED INTO NOTABLE SPOT AND PERIOD IMPROVEMENT - FEARNLEYS
Handy
The Atlantic market experienced a general rate increase for most trades this week. More cargoes in the market and chrts looking for prompt t ...
Wednesday, 20 November 13
PANAMAX MARKET RESUMED ITS NEGATIVE MOVEMENT FOR A SECOND WEEK IN A ROW - INTERMODAL
COALspot.com: The recovery noted the week prior in the dry Bulk market proved to be short-lived, as the BDI slipped back down to the low 1,500 point ...
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- Ministry of Finance - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Singapore Mercantile Exchange
- Siam City Cement - Thailand
- Mjunction Services Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- VISA Power Limited - India
- Indika Energy - Indonesia
- Semirara Mining Corp, Philippines
- Kartika Selabumi Mining - Indonesia
- Timah Investasi Mineral - Indoneisa
- Renaissance Capital - South Africa
- Posco Energy - South Korea
- Billiton Holdings Pty Ltd - Australia
- Meenaskhi Energy Private Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Bhatia International Limited - India
- Power Finance Corporation Ltd., India
- Wilmar Investment Holdings
- Carbofer General Trading SA - India
- Trasteel International SA, Italy
- Sojitz Corporation - Japan
- Simpson Spence & Young - Indonesia
- Bhushan Steel Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- PTC India Limited - India
- Independent Power Producers Association of India
- Kaltim Prima Coal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Mercuria Energy - Indonesia
- Merrill Lynch Commodities Europe
- Ministry of Mines - Canada
- Goldman Sachs - Singapore
- Central Electricity Authority - India
- Thai Mozambique Logistica
- European Bulk Services B.V. - Netherlands
- Xindia Steels Limited - India
- Grasim Industreis Ltd - India
- Indo Tambangraya Megah - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Krishnapatnam Port Company Ltd. - India
- Karaikal Port Pvt Ltd - India
- Central Java Power - Indonesia
- Kepco SPC Power Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Australian Coal Association
- Jindal Steel & Power Ltd - India
- Petron Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Orica Mining Services - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Alfred C Toepfer International GmbH - Germany
- Coastal Gujarat Power Limited - India
- Makarim & Taira - Indonesia
- Salva Resources Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Indian Oil Corporation Limited
- New Zealand Coal & Carbon
- PowerSource Philippines DevCo
- Orica Australia Pty. Ltd.
- SMG Consultants - Indonesia
- India Bulls Power Limited - India
- Tata Chemicals Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Sree Jayajothi Cements Limited - India
- Leighton Contractors Pty Ltd - Australia
- Sakthi Sugars Limited - India
- CIMB Investment Bank - Malaysia
- Savvy Resources Ltd - HongKong
- Vizag Seaport Private Limited - India
- Commonwealth Bank - Australia
- Baramulti Group, Indonesia
- LBH Netherlands Bv - Netherlands
- TeaM Sual Corporation - Philippines
- Heidelberg Cement - Germany
- The State Trading Corporation of India Ltd
- Miang Besar Coal Terminal - Indonesia
- Kumho Petrochemical, South Korea
- Global Green Power PLC Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Lanco Infratech Ltd - India
- ASAPP Information Group - India
- PetroVietnam Power Coal Import and Supply Company
- Tamil Nadu electricity Board
- Iligan Light & Power Inc, Philippines
- Banpu Public Company Limited - Thailand
- Parliament of New Zealand
- South Luzon Thermal Energy Corporation
- Coalindo Energy - Indonesia
- Borneo Indobara - Indonesia
- Rashtriya Ispat Nigam Limited - India
- International Coal Ventures Pvt Ltd - India
- MS Steel International - UAE
- Gujarat Mineral Development Corp Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Chettinad Cement Corporation Ltd - India
- ICICI Bank Limited - India
- Global Coal Blending Company Limited - Australia
- Mintek Dendrill Indonesia
- IEA Clean Coal Centre - UK
- Bangladesh Power Developement Board
- Sinarmas Energy and Mining - Indonesia
- Formosa Plastics Group - Taiwan
- Intertek Mineral Services - Indonesia
- Larsen & Toubro Limited - India
- Bukit Baiduri Energy - Indonesia
- Anglo American - United Kingdom
- McConnell Dowell - Australia
- Wood Mackenzie - Singapore
- Bulk Trading Sa - Switzerland
- Jorong Barutama Greston.PT - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Romanian Commodities Exchange
- Kapuas Tunggal Persada - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Edison Trading Spa - Italy
- The University of Queensland
- Offshore Bulk Terminal Pte Ltd, Singapore
- Malabar Cements Ltd - India
- Riau Bara Harum - Indonesia
- Mercator Lines Limited - India
- Samtan Co., Ltd - South Korea
- Siam City Cement PLC, Thailand
- White Energy Company Limited
- Star Paper Mills Limited - India
- The Treasury - Australian Government
- Ind-Barath Power Infra Limited - India
- Holcim Trading Pte Ltd - Singapore
- Indonesian Coal Mining Association
- AsiaOL BioFuels Corp., Philippines
- CNBM International Corporation - China
- Asia Pacific Energy Resources Ventures Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- London Commodity Brokers - England
- Interocean Group of Companies - India
- Jaiprakash Power Ventures ltd
- Kobexindo Tractors - Indoneisa
- PNOC Exploration Corporation - Philippines
- Chamber of Mines of South Africa
- Price Waterhouse Coopers - Russia
- Straits Asia Resources Limited - Singapore
- Semirara Mining and Power Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Antam Resourcindo - Indonesia
- Madhucon Powers Ltd - India
- Energy Development Corp, Philippines
- Planning Commission, India
- Bhoruka Overseas - Indonesia
- GVK Power & Infra Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Meralco Power Generation, Philippines
- Agrawal Coal Company - India
- Pendopo Energi Batubara - Indonesia
- Manunggal Multi Energi - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Port Waratah Coal Services - Australia
- Neyveli Lignite Corporation Ltd, - India
- Bayan Resources Tbk. - Indonesia
- Indogreen Group - Indonesia
- Marubeni Corporation - India
- Coal and Oil Company - UAE
- Rio Tinto Coal - Australia
- Eastern Energy - Thailand
- Indian Energy Exchange, India
- Eastern Coal Council - USA
- Therma Luzon, Inc, Philippines
- Ministry of Transport, Egypt
- TNB Fuel Sdn Bhd - Malaysia
- Sarangani Energy Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Australian Commodity Traders Exchange
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Standard Chartered Bank - UAE
- Georgia Ports Authority, United States
- Gujarat Sidhee Cement - India
- Barasentosa Lestari - Indonesia
- SMC Global Power, Philippines
- Latin American Coal - Colombia
- SN Aboitiz Power Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Sindya Power Generating Company Private Ltd
- Energy Link Ltd, New Zealand
- Ceylon Electricity Board - Sri Lanka
- Binh Thuan Hamico - Vietnam
- GMR Energy Limited - India
- Thiess Contractors Indonesia
- Sical Logistics Limited - India
- Cement Manufacturers Association - India
- Altura Mining Limited, Indonesia
- Toyota Tsusho Corporation, Japan
- Uttam Galva Steels Limited - India
- Bukit Makmur.PT - Indonesia
- Africa Commodities Group - South Africa
- Global Business Power Corporation, Philippines
- Vedanta Resources Plc - India
- Dalmia Cement Bharat India
- Ambuja Cements Ltd - India
- Minerals Council of Australia
- San Jose City I Power Corp, Philippines
- Aditya Birla Group - India
- IHS Mccloskey Coal Group - USA
- Electricity Authority, New Zealand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Deloitte Consulting - India
- Medco Energi Mining Internasional
- Videocon Industries ltd - India
- Economic Council, Georgia
- Bharathi Cement Corporation - India
- Essar Steel Hazira Ltd - India
- Maheswari Brothers Coal Limited - India
- Attock Cement Pakistan Limited
- Metalloyd Limited - United Kingdom
- Parry Sugars Refinery, India
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