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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, 24 October 13
PANAMAX: RATES SLIP ACROSS BOTH HEMISPHERES
Handy
We were back from holidays but still not much enquiries in the market. Overall future direction is uncertain. Currently, ships passing Singap ...
Thursday, 24 October 13
SHIP PRICES ARE INCREASING ON THE BACK OF IMPROVED MARKET SENTIMENT - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market has kept on retreating from its recent highs, ending yesterday at 1,786 points, down 61 points on the day, with Capesizes leadin ...
Wednesday, 23 October 13
DRY BULK MARKET HAS SHOWN SIGNS OF STABILITY - INTERMODAL
Chartering (Wet: Stable+ / Dry: Stable-)
The Dry Bulk market has shown signs of stability this past week, with the sole exception of Capes, rates f ...
Wednesday, 23 October 13
MARKET SENTIMENT IN THE DRY BULK SECTOR REMAINS POSITIVE - YANNIS OLZIERSKY
Market sentiment in the dry bulk sector remains positive despite the latest correction in freight rates for the Capesize sector, which are sliding f ...
Tuesday, 22 October 13
NEWCASTLE PORT SERVED 38 OCEAN GOING VESSELS IN A WEEK
COALspot.com: Power plant and semi-soft coking coal shipments from Australia's Newcastle port up 0.64 per cent week on week to 3.21 million mt for ...
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- Grasim Industreis Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- South Luzon Thermal Energy Corporation
- Samtan Co., Ltd - South Korea
- Anglo American - United Kingdom
- Energy Development Corp, Philippines
- Eastern Coal Council - USA
- PTC India Limited - India
- Vedanta Resources Plc - India
- Binh Thuan Hamico - Vietnam
- Antam Resourcindo - Indonesia
- SMG Consultants - Indonesia
- SMC Global Power, Philippines
- Wilmar Investment Holdings
- Parliament of New Zealand
- Sojitz Corporation - Japan
- Central Java Power - Indonesia
- Larsen & Toubro Limited - India
- Africa Commodities Group - South Africa
- Merrill Lynch Commodities Europe
- Aboitiz Power Corporation - Philippines
- GMR Energy Limited - India
- LBH Netherlands Bv - Netherlands
- Semirara Mining Corp, Philippines
- Sakthi Sugars Limited - India
- Australian Commodity Traders Exchange
- Krishnapatnam Port Company Ltd. - India
- Bahari Cakrawala Sebuku - Indonesia
- Orica Mining Services - Indonesia
- Global Green Power PLC Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Goldman Sachs - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Bangladesh Power Developement Board
- Iligan Light & Power Inc, Philippines
- Gujarat Sidhee Cement - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Jaiprakash Power Ventures ltd
- Attock Cement Pakistan Limited
- International Coal Ventures Pvt Ltd - India
- Indian Energy Exchange, India
- Therma Luzon, Inc, Philippines
- Standard Chartered Bank - UAE
- Formosa Plastics Group - Taiwan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Asmin Koalindo Tuhup - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Ambuja Cements Ltd - India
- TeaM Sual Corporation - Philippines
- New Zealand Coal & Carbon
- VISA Power Limited - India
- Banpu Public Company Limited - Thailand
- Pendopo Energi Batubara - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Malabar Cements Ltd - India
- Planning Commission, India
- Ministry of Finance - Indonesia
- Cement Manufacturers Association - India
- Economic Council, Georgia
- Toyota Tsusho Corporation, Japan
- CNBM International Corporation - China
- MS Steel International - UAE
- Agrawal Coal Company - India
- IHS Mccloskey Coal Group - USA
- Karaikal Port Pvt Ltd - India
- Thai Mozambique Logistica
- Kaltim Prima Coal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Neyveli Lignite Corporation Ltd, - India
- Maheswari Brothers Coal Limited - India
- Siam City Cement - Thailand
- Mercuria Energy - Indonesia
- Medco Energi Mining Internasional
- Miang Besar Coal Terminal - Indonesia
- Independent Power Producers Association of India
- Holcim Trading Pte Ltd - Singapore
- Electricity Generating Authority of Thailand
- Borneo Indobara - Indonesia
- Meenaskhi Energy Private Limited - India
- Mjunction Services Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- IEA Clean Coal Centre - UK
- Gujarat Electricity Regulatory Commission - India
- Lanco Infratech Ltd - India
- Orica Australia Pty. Ltd.
- Port Waratah Coal Services - Australia
- Jorong Barutama Greston.PT - Indonesia
- Kideco Jaya Agung - Indonesia
- Chettinad Cement Corporation Ltd - India
- Kobexindo Tractors - Indoneisa
- Indogreen Group - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Billiton Holdings Pty Ltd - Australia
- Sarangani Energy Corporation, Philippines
- Madhucon Powers Ltd - India
- Interocean Group of Companies - India
- Posco Energy - South Korea
- Rashtriya Ispat Nigam Limited - India
- The State Trading Corporation of India Ltd
- Coalindo Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- San Jose City I Power Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- Bhatia International Limited - India
- Australian Coal Association
- Asia Pacific Energy Resources Ventures Inc, Philippines
- ASAPP Information Group - India
- GVK Power & Infra Limited - India
- Timah Investasi Mineral - Indoneisa
- Tata Chemicals Ltd - India
- Sical Logistics Limited - India
- Electricity Authority, New Zealand
- Romanian Commodities Exchange
- OPG Power Generation Pvt Ltd - India
- Minerals Council of Australia
- Ind-Barath Power Infra Limited - India
- Meralco Power Generation, Philippines
- Kepco SPC Power Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Xindia Steels Limited - India
- Coastal Gujarat Power Limited - India
- The University of Queensland
- The Treasury - Australian Government
- Salva Resources Pvt Ltd - India
- Baramulti Group, Indonesia
- McConnell Dowell - Australia
- Chamber of Mines of South Africa
- Vizag Seaport Private Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Carbofer General Trading SA - India
- Ministry of Mines - Canada
- Energy Link Ltd, New Zealand
- Commonwealth Bank - Australia
- Makarim & Taira - Indonesia
- Coal and Oil Company - UAE
- Global Business Power Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Star Paper Mills Limited - India
- Renaissance Capital - South Africa
- Rio Tinto Coal - Australia
- Bhushan Steel Limited - India
- Sree Jayajothi Cements Limited - India
- Georgia Ports Authority, United States
- Aditya Birla Group - India
- Mintek Dendrill Indonesia
- Alfred C Toepfer International GmbH - Germany
- Sinarmas Energy and Mining - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Simpson Spence & Young - Indonesia
- Bayan Resources Tbk. - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Deloitte Consulting - India
- Heidelberg Cement - Germany
- Metalloyd Limited - United Kingdom
- Wood Mackenzie - Singapore
- Petron Corporation, Philippines
- Uttam Galva Steels Limited - India
- Indika Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Edison Trading Spa - Italy
- Directorate Of Revenue Intelligence - India
- Oldendorff Carriers - Singapore
- Kalimantan Lumbung Energi - Indonesia
- London Commodity Brokers - England
- Power Finance Corporation Ltd., India
- Intertek Mineral Services - Indonesia
- Global Coal Blending Company Limited - Australia
- Thiess Contractors Indonesia
- Indo Tambangraya Megah - Indonesia
- White Energy Company Limited
- Siam City Cement PLC, Thailand
- Straits Asia Resources Limited - Singapore
- Bulk Trading Sa - Switzerland
- Bukit Baiduri Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Singapore Mercantile Exchange
- Globalindo Alam Lestari - Indonesia
- Ministry of Transport, Egypt
- Bhoruka Overseas - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Cigading International Bulk Terminal - Indonesia
- Videocon Industries ltd - India
- GAC Shipping (India) Pvt Ltd
- Parry Sugars Refinery, India
- Jindal Steel & Power Ltd - India
- Mercator Lines Limited - India
- Manunggal Multi Energi - Indonesia
- Barasentosa Lestari - Indonesia
- Altura Mining Limited, Indonesia
- Central Electricity Authority - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- India Bulls Power Limited - India
- Dalmia Cement Bharat India
- Bharathi Cement Corporation - India
- Indian Oil Corporation Limited
- PowerSource Philippines DevCo
- Tamil Nadu electricity Board
- Savvy Resources Ltd - HongKong
- Trasteel International SA, Italy
- Riau Bara Harum - Indonesia
- Kumho Petrochemical, South Korea
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- European Bulk Services B.V. - Netherlands
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Marubeni Corporation - India
- Indonesian Coal Mining Association
- Kartika Selabumi Mining - Indonesia
- CIMB Investment Bank - Malaysia
- ICICI Bank Limited - India
- Eastern Energy - Thailand
- Latin American Coal - Colombia
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