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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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Wednesday, 13 November 13
THE SOFTENING HAS AFFECTED THE BIGGER SIZE SEGMENTS; SMALLER ONES STILL APPEAR TO BE VERY STABLE - INTERMODAL
After a month and a half of back to back weekly declines, the dry bulk market has finally reversed its negative course. We believe that there should ...
Wednesday, 13 November 13
DRY BULK MARKET HAS REVERSED ITS NEGATIVE COURSE - INTERMODAL
Chartering (Wet: Firm+ / Dry: Stable+ )
The Dry Bulk market has reversed its negative course this past week with rates for Capes making up fo ...
Wednesday, 13 November 13
NEWCASTLE COAL EXPORTS PLUNGE 12.40% IN W/E 10 NOVEMBER FROM THE PRIOR WEEK
COALspot.com: In the week ended November 11, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensland, totaled 2.42 ...
Monday, 11 November 13
TAMIL NADU STATE OWNED POWER GENERATOR TO IMPORT 3.7 MMT OF 6000 GAD COAL
COALspot.com - TANGEDCO, Tamil Nadu Generation & Distribution Corporation Ltd, Tamil Nadu state owned power generator & distributor intends ...
Sunday, 10 November 13
PANAMAX COAL FREIGHT RATES REMAIN UNDER PRESSURE; SUPRAMAX BIGGEST GAINER - REDDY
COALspot.com: The freight market was up this week with all indices increased except for Panamax index.
The BDI was up by 56 points closing at 158 ...
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- Economic Council, Georgia
- Binh Thuan Hamico - Vietnam
- Bhushan Steel Limited - India
- Kaltim Prima Coal - Indonesia
- Xindia Steels Limited - India
- Sakthi Sugars Limited - India
- Malabar Cements Ltd - India
- Price Waterhouse Coopers - Russia
- Tamil Nadu electricity Board
- TeaM Sual Corporation - Philippines
- MS Steel International - UAE
- Mjunction Services Limited - India
- India Bulls Power Limited - India
- Alfred C Toepfer International GmbH - Germany
- Ministry of Finance - Indonesia
- OPG Power Generation Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Ministry of Transport, Egypt
- Mercuria Energy - Indonesia
- New Zealand Coal & Carbon
- Aboitiz Power Corporation - Philippines
- White Energy Company Limited
- GAC Shipping (India) Pvt Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sarangani Energy Corporation, Philippines
- Vizag Seaport Private Limited - India
- Coal and Oil Company - UAE
- Eastern Energy - Thailand
- ASAPP Information Group - India
- Holcim Trading Pte Ltd - Singapore
- Indian Oil Corporation Limited
- Globalindo Alam Lestari - Indonesia
- Attock Cement Pakistan Limited
- Miang Besar Coal Terminal - Indonesia
- IEA Clean Coal Centre - UK
- Kartika Selabumi Mining - Indonesia
- Wood Mackenzie - Singapore
- Cigading International Bulk Terminal - Indonesia
- Straits Asia Resources Limited - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Indika Energy - Indonesia
- Thai Mozambique Logistica
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Australian Commodity Traders Exchange
- Larsen & Toubro Limited - India
- Indo Tambangraya Megah - Indonesia
- Timah Investasi Mineral - Indoneisa
- Sinarmas Energy and Mining - Indonesia
- Bangladesh Power Developement Board
- Interocean Group of Companies - India
- Antam Resourcindo - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Bulk Trading Sa - Switzerland
- Bukit Makmur.PT - Indonesia
- Meenaskhi Energy Private Limited - India
- The University of Queensland
- Central Java Power - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Kideco Jaya Agung - Indonesia
- Bhatia International Limited - India
- LBH Netherlands Bv - Netherlands
- Salva Resources Pvt Ltd - India
- Meralco Power Generation, Philippines
- Maheswari Brothers Coal Limited - India
- Sree Jayajothi Cements Limited - India
- Pendopo Energi Batubara - Indonesia
- Barasentosa Lestari - Indonesia
- Eastern Coal Council - USA
- Savvy Resources Ltd - HongKong
- Vedanta Resources Plc - India
- Billiton Holdings Pty Ltd - Australia
- Kapuas Tunggal Persada - Indonesia
- Sical Logistics Limited - India
- Romanian Commodities Exchange
- Bayan Resources Tbk. - Indonesia
- Sindya Power Generating Company Private Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Coalindo Energy - Indonesia
- Makarim & Taira - Indonesia
- Grasim Industreis Ltd - India
- PNOC Exploration Corporation - Philippines
- Australian Coal Association
- Electricity Generating Authority of Thailand
- Kumho Petrochemical, South Korea
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Formosa Plastics Group - Taiwan
- Dalmia Cement Bharat India
- Banpu Public Company Limited - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mintek Dendrill Indonesia
- Trasteel International SA, Italy
- Port Waratah Coal Services - Australia
- SMC Global Power, Philippines
- Global Coal Blending Company Limited - Australia
- CIMB Investment Bank - Malaysia
- PowerSource Philippines DevCo
- Tata Chemicals Ltd - India
- London Commodity Brokers - England
- Minerals Council of Australia
- Thiess Contractors Indonesia
- Merrill Lynch Commodities Europe
- AsiaOL BioFuels Corp., Philippines
- Standard Chartered Bank - UAE
- Riau Bara Harum - Indonesia
- Bukit Baiduri Energy - Indonesia
- CNBM International Corporation - China
- Ceylon Electricity Board - Sri Lanka
- Posco Energy - South Korea
- Toyota Tsusho Corporation, Japan
- Metalloyd Limited - United Kingdom
- Commonwealth Bank - Australia
- Directorate Of Revenue Intelligence - India
- Power Finance Corporation Ltd., India
- Star Paper Mills Limited - India
- Energy Development Corp, Philippines
- Central Electricity Authority - India
- Independent Power Producers Association of India
- Indogreen Group - Indonesia
- Anglo American - United Kingdom
- European Bulk Services B.V. - Netherlands
- Edison Trading Spa - Italy
- Bhoruka Overseas - Indonesia
- Rio Tinto Coal - Australia
- Coastal Gujarat Power Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Semirara Mining and Power Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Lanco Infratech Ltd - India
- Videocon Industries ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Bharathi Cement Corporation - India
- Pipit Mutiara Jaya. PT, Indonesia
- SN Aboitiz Power Inc, Philippines
- Siam City Cement - Thailand
- Therma Luzon, Inc, Philippines
- Ambuja Cements Ltd - India
- Madhucon Powers Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Directorate General of MIneral and Coal - Indonesia
- Ministry of Mines - Canada
- Ind-Barath Power Infra Limited - India
- Parliament of New Zealand
- Planning Commission, India
- Agrawal Coal Company - India
- Karbindo Abesyapradhi - Indoneisa
- GVK Power & Infra Limited - India
- Kepco SPC Power Corporation, Philippines
- Singapore Mercantile Exchange
- Borneo Indobara - Indonesia
- The State Trading Corporation of India Ltd
- Semirara Mining Corp, Philippines
- The Treasury - Australian Government
- TNB Fuel Sdn Bhd - Malaysia
- Uttam Galva Steels Limited - India
- Manunggal Multi Energi - Indonesia
- Cement Manufacturers Association - India
- Karaikal Port Pvt Ltd - India
- Electricity Authority, New Zealand
- IHS Mccloskey Coal Group - USA
- Marubeni Corporation - India
- Carbofer General Trading SA - India
- Intertek Mineral Services - Indonesia
- SMG Consultants - Indonesia
- Orica Australia Pty. Ltd.
- Jaiprakash Power Ventures ltd
- Deloitte Consulting - India
- Goldman Sachs - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Essar Steel Hazira Ltd - India
- Global Business Power Corporation, Philippines
- Siam City Cement PLC, Thailand
- Chettinad Cement Corporation Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- ICICI Bank Limited - India
- Petron Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- PTC India Limited - India
- Indian Energy Exchange, India
- Iligan Light & Power Inc, Philippines
- Gujarat Sidhee Cement - India
- Altura Mining Limited, Indonesia
- Oldendorff Carriers - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- GMR Energy Limited - India
- McConnell Dowell - Australia
- Leighton Contractors Pty Ltd - Australia
- Gujarat Electricity Regulatory Commission - India
- Latin American Coal - Colombia
- Indonesian Coal Mining Association
- Heidelberg Cement - Germany
- Parry Sugars Refinery, India
- Orica Mining Services - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Africa Commodities Group - South Africa
- Medco Energi Mining Internasional
- Neyveli Lignite Corporation Ltd, - India
- Baramulti Group, Indonesia
- San Jose City I Power Corp, Philippines
- International Coal Ventures Pvt Ltd - India
- Georgia Ports Authority, United States
- Renaissance Capital - South Africa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sojitz Corporation - Japan
- Wilmar Investment Holdings
- Samtan Co., Ltd - South Korea
- Jindal Steel & Power Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mercator Lines Limited - India
- Aditya Birla Group - India
- Chamber of Mines of South Africa
- Simpson Spence & Young - Indonesia
- VISA Power Limited - India
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