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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, 31 October 13
HANDY: ACTIVE; PANAMAX: QUIET; CAPESIZE: NO LIGHT
Handy
The handy market had an active week however not directly translated into the rates we´ve seen in the Pacific. We see more coal and baux ...
Wednesday, 30 October 13
INDONESIAN STATE OWNED COAL MINER HAS EXPORTED 7.02 MILLION TONS OF COAL IN 9 MONTHS
COALspot.com : PT. Bukit Asam, Indonesian state owned coal miner has sold 13.24 million tons of coal for the period January - September 2013. Accord ...
Wednesday, 30 October 13
DRY BULK MARKET HAS LOST FURTHER GROUND THIS PAST WEEK - INTERMODAL
Chartering (Wet: Firm+ / Dry: Stable-)
The Dry Bulk market has lost further ground this past week, as de-creased activity in both basins for both C ...
Wednesday, 30 October 13
CAPESIZE: DOWNWARD; SUPRAS AND HANDIES: STABLE - INTERMODAL
The Dry Bulk market has resumed its downward movement, noting another dip for a third week in a row. The larger size segments were responsible for p ...
Tuesday, 29 October 13
NEWCASTLE PORT SHIPPED 12.29 PER CENT MORE COAL W-W
COALspot.com: Power plant and semi-soft coking coal shipments from Australia's Newcastle port up 12.29 per cent week on week to 3.61 million mt for ...
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- PetroVietnam Power Coal Import and Supply Company
- IEA Clean Coal Centre - UK
- Lanco Infratech Ltd - India
- Samtan Co., Ltd - South Korea
- Carbofer General Trading SA - India
- Xindia Steels Limited - India
- Energy Link Ltd, New Zealand
- Romanian Commodities Exchange
- Attock Cement Pakistan Limited
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ministry of Transport, Egypt
- Indian Oil Corporation Limited
- Kohat Cement Company Ltd. - Pakistan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Barasentosa Lestari - Indonesia
- SMC Global Power, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Wood Mackenzie - Singapore
- Trasteel International SA, Italy
- Chettinad Cement Corporation Ltd - India
- Commonwealth Bank - Australia
- Kobexindo Tractors - Indoneisa
- Semirara Mining Corp, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Kideco Jaya Agung - Indonesia
- London Commodity Brokers - England
- Oldendorff Carriers - Singapore
- Agrawal Coal Company - India
- International Coal Ventures Pvt Ltd - India
- Minerals Council of Australia
- Renaissance Capital - South Africa
- Billiton Holdings Pty Ltd - Australia
- Bulk Trading Sa - Switzerland
- Timah Investasi Mineral - Indoneisa
- Kartika Selabumi Mining - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Deloitte Consulting - India
- CIMB Investment Bank - Malaysia
- Karaikal Port Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- McConnell Dowell - Australia
- IHS Mccloskey Coal Group - USA
- Maharashtra Electricity Regulatory Commission - India
- Videocon Industries ltd - India
- Indika Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Vedanta Resources Plc - India
- Sarangani Energy Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Mercuria Energy - Indonesia
- Bukit Baiduri Energy - Indonesia
- Rio Tinto Coal - Australia
- Salva Resources Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Orica Mining Services - Indonesia
- Indo Tambangraya Megah - Indonesia
- Energy Development Corp, Philippines
- Sojitz Corporation - Japan
- Uttam Galva Steels Limited - India
- Makarim & Taira - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Latin American Coal - Colombia
- Cigading International Bulk Terminal - Indonesia
- Intertek Mineral Services - Indonesia
- Eastern Coal Council - USA
- Sical Logistics Limited - India
- Directorate Of Revenue Intelligence - India
- VISA Power Limited - India
- Meenaskhi Energy Private Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Medco Energi Mining Internasional
- European Bulk Services B.V. - Netherlands
- GAC Shipping (India) Pvt Ltd
- Indian Energy Exchange, India
- Sakthi Sugars Limited - India
- Ministry of Mines - Canada
- Australian Coal Association
- CNBM International Corporation - China
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Posco Energy - South Korea
- Neyveli Lignite Corporation Ltd, - India
- Gujarat Mineral Development Corp Ltd - India
- Marubeni Corporation - India
- Baramulti Group, Indonesia
- Aboitiz Power Corporation - Philippines
- Tamil Nadu electricity Board
- Altura Mining Limited, Indonesia
- Aditya Birla Group - India
- Semirara Mining and Power Corporation, Philippines
- Cement Manufacturers Association - India
- Mjunction Services Limited - India
- Manunggal Multi Energi - Indonesia
- Malabar Cements Ltd - India
- Metalloyd Limited - United Kingdom
- Meralco Power Generation, Philippines
- Central Java Power - Indonesia
- PTC India Limited - India
- PNOC Exploration Corporation - Philippines
- Antam Resourcindo - Indonesia
- ASAPP Information Group - India
- The Treasury - Australian Government
- Gujarat Electricity Regulatory Commission - India
- The State Trading Corporation of India Ltd
- Bhoruka Overseas - Indonesia
- Bhushan Steel Limited - India
- Simpson Spence & Young - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Coalindo Energy - Indonesia
- Central Electricity Authority - India
- New Zealand Coal & Carbon
- The University of Queensland
- Sinarmas Energy and Mining - Indonesia
- Globalindo Alam Lestari - Indonesia
- LBH Netherlands Bv - Netherlands
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ministry of Finance - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Merrill Lynch Commodities Europe
- South Luzon Thermal Energy Corporation
- Parliament of New Zealand
- MS Steel International - UAE
- Petron Corporation, Philippines
- Singapore Mercantile Exchange
- San Jose City I Power Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- Savvy Resources Ltd - HongKong
- Orica Australia Pty. Ltd.
- Bank of Tokyo Mitsubishi UFJ Ltd
- ICICI Bank Limited - India
- Port Waratah Coal Services - Australia
- Pendopo Energi Batubara - Indonesia
- Siam City Cement - Thailand
- Bukit Makmur.PT - Indonesia
- Global Business Power Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Kepco SPC Power Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Global Coal Blending Company Limited - Australia
- Price Waterhouse Coopers - Russia
- Bangladesh Power Developement Board
- Anglo American - United Kingdom
- India Bulls Power Limited - India
- Wilmar Investment Holdings
- Banpu Public Company Limited - Thailand
- Goldman Sachs - Singapore
- Jindal Steel & Power Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Parry Sugars Refinery, India
- Global Green Power PLC Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Riau Bara Harum - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Mintek Dendrill Indonesia
- Larsen & Toubro Limited - India
- Alfred C Toepfer International GmbH - Germany
- Coastal Gujarat Power Limited - India
- Eastern Energy - Thailand
- Sree Jayajothi Cements Limited - India
- Kapuas Tunggal Persada - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Krishnapatnam Port Company Ltd. - India
- SMG Consultants - Indonesia
- GMR Energy Limited - India
- Electricity Authority, New Zealand
- OPG Power Generation Pvt Ltd - India
- Australian Commodity Traders Exchange
- Bharathi Cement Corporation - India
- Thai Mozambique Logistica
- Indogreen Group - Indonesia
- Interocean Group of Companies - India
- Asmin Koalindo Tuhup - Indonesia
- Madhucon Powers Ltd - India
- Coal and Oil Company - UAE
- Electricity Generating Authority of Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Tata Chemicals Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Mercator Lines Limited - India
- TeaM Sual Corporation - Philippines
- PowerSource Philippines DevCo
- White Energy Company Limited
- Formosa Plastics Group - Taiwan
- Jaiprakash Power Ventures ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Georgia Ports Authority, United States
- Iligan Light & Power Inc, Philippines
- Edison Trading Spa - Italy
- Indonesian Coal Mining Association
- Kaltim Prima Coal - Indonesia
- Africa Commodities Group - South Africa
- Star Paper Mills Limited - India
- GVK Power & Infra Limited - India
- Vizag Seaport Private Limited - India
- Siam City Cement PLC, Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Grasim Industreis Ltd - India
- Chamber of Mines of South Africa
- Power Finance Corporation Ltd., India
- Toyota Tsusho Corporation, Japan
- Heidelberg Cement - Germany
- Ambuja Cements Ltd - India
- Thiess Contractors Indonesia
- Standard Chartered Bank - UAE
- Essar Steel Hazira Ltd - India
- Planning Commission, India
- Economic Council, Georgia
- Therma Luzon, Inc, Philippines
- Dalmia Cement Bharat India
- Borneo Indobara - Indonesia
- Independent Power Producers Association of India
- Sindya Power Generating Company Private Ltd
- Maheswari Brothers Coal Limited - India
- Kumho Petrochemical, South Korea
- Bhatia International Limited - India
- SN Aboitiz Power Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
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