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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, 12 September 13
PANAMAX : PACIFIC ROUNDS ARE NOW REPORTED BETWEEN USD 13K AND 15K PER DAY - FEARNRESEARCH
Handy
Nickel ore is a key support SE Asia/Feast rate at the moment; vessel in N.China were fixed around USD 11-12k, ships in mid China can expect a ...
Thursday, 12 September 13
CAPESIZE MARKET WILL BECOME EVEN TIGHTER - JEFFREY LANDSBERG
COALspot.com : While it is no secret that current capesize availability has become tight and has caused capesize rates to surge, availability is set ...
Thursday, 12 September 13
OVER THE WORST? WE MIGHT FIND OUT THIS WEEK - BIMCO
The shipping market has a spring in its step, even as summer draws to a close. There is it seems, confidence that finally, we are emerging into the ...
Thursday, 12 September 13
DRY BULK MARKET RALLY COMES AT A GOOD TIME FOR MOST SHIP OWNERS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The latest surge of the dry bulk market has helped offset other lingering factors, which otherwise, could have plunged freight rates to new lows. Fo ...
Wednesday, 11 September 13
ASIA - PACIFIC THERMAL COAL MARKET TO REMAIN OVERSUPPLIED IN NEXT 12 MONTHS - FITCH RATINGS
COALspot.com: Fitch Ratings says the Asia-Pacific thermal coal market will remain oversupplied in the next 12 months because strong production has b ...
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- Mercuria Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- Bhoruka Overseas - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Parliament of New Zealand
- Salva Resources Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Carbofer General Trading SA - India
- Altura Mining Limited, Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Oldendorff Carriers - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Standard Chartered Bank - UAE
- Directorate Of Revenue Intelligence - India
- GVK Power & Infra Limited - India
- Manunggal Multi Energi - Indonesia
- Romanian Commodities Exchange
- Xindia Steels Limited - India
- Medco Energi Mining Internasional
- Sinarmas Energy and Mining - Indonesia
- Larsen & Toubro Limited - India
- Aditya Birla Group - India
- Neyveli Lignite Corporation Ltd, - India
- Price Waterhouse Coopers - Russia
- Anglo American - United Kingdom
- Billiton Holdings Pty Ltd - Australia
- Chamber of Mines of South Africa
- Leighton Contractors Pty Ltd - Australia
- Karbindo Abesyapradhi - Indoneisa
- Planning Commission, India
- MS Steel International - UAE
- Vijayanagar Sugar Pvt Ltd - India
- Indogreen Group - Indonesia
- Formosa Plastics Group - Taiwan
- Singapore Mercantile Exchange
- Kohat Cement Company Ltd. - Pakistan
- Bahari Cakrawala Sebuku - Indonesia
- Metalloyd Limited - United Kingdom
- Jorong Barutama Greston.PT - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Iligan Light & Power Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Bhatia International Limited - India
- Ministry of Mines - Canada
- Sakthi Sugars Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Grasim Industreis Ltd - India
- New Zealand Coal & Carbon
- Gujarat Mineral Development Corp Ltd - India
- Straits Asia Resources Limited - Singapore
- Sojitz Corporation - Japan
- AsiaOL BioFuels Corp., Philippines
- Indonesian Coal Mining Association
- Antam Resourcindo - Indonesia
- Meralco Power Generation, Philippines
- Tamil Nadu electricity Board
- India Bulls Power Limited - India
- White Energy Company Limited
- Chettinad Cement Corporation Ltd - India
- Bukit Baiduri Energy - Indonesia
- Goldman Sachs - Singapore
- Sical Logistics Limited - India
- SMC Global Power, Philippines
- Interocean Group of Companies - India
- LBH Netherlands Bv - Netherlands
- Power Finance Corporation Ltd., India
- Semirara Mining and Power Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Miang Besar Coal Terminal - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- PowerSource Philippines DevCo
- Ministry of Finance - Indonesia
- GMR Energy Limited - India
- ICICI Bank Limited - India
- Gujarat Electricity Regulatory Commission - India
- SMG Consultants - Indonesia
- Sindya Power Generating Company Private Ltd
- Minerals Council of Australia
- Independent Power Producers Association of India
- Kobexindo Tractors - Indoneisa
- TNB Fuel Sdn Bhd - Malaysia
- Indika Energy - Indonesia
- Coalindo Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Ind-Barath Power Infra Limited - India
- Energy Link Ltd, New Zealand
- Rashtriya Ispat Nigam Limited - India
- Energy Development Corp, Philippines
- Intertek Mineral Services - Indonesia
- Deloitte Consulting - India
- Electricity Authority, New Zealand
- Krishnapatnam Port Company Ltd. - India
- Georgia Ports Authority, United States
- Malabar Cements Ltd - India
- Meenaskhi Energy Private Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Aboitiz Power Corporation - Philippines
- Merrill Lynch Commodities Europe
- SN Aboitiz Power Inc, Philippines
- Gujarat Sidhee Cement - India
- Mjunction Services Limited - India
- Attock Cement Pakistan Limited
- Ambuja Cements Ltd - India
- Marubeni Corporation - India
- Parry Sugars Refinery, India
- Coastal Gujarat Power Limited - India
- Bhushan Steel Limited - India
- Dalmia Cement Bharat India
- Tata Chemicals Ltd - India
- GAC Shipping (India) Pvt Ltd
- Eastern Coal Council - USA
- Economic Council, Georgia
- McConnell Dowell - Australia
- IEA Clean Coal Centre - UK
- Semirara Mining Corp, Philippines
- Mintek Dendrill Indonesia
- Kartika Selabumi Mining - Indonesia
- Barasentosa Lestari - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Port Waratah Coal Services - Australia
- Maheswari Brothers Coal Limited - India
- Orica Australia Pty. Ltd.
- Samtan Co., Ltd - South Korea
- PNOC Exploration Corporation - Philippines
- Banpu Public Company Limited - Thailand
- The University of Queensland
- Eastern Energy - Thailand
- Therma Luzon, Inc, Philippines
- Bharathi Cement Corporation - India
- Vedanta Resources Plc - India
- Kepco SPC Power Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Edison Trading Spa - Italy
- Siam City Cement PLC, Thailand
- The Treasury - Australian Government
- Kumho Petrochemical, South Korea
- San Jose City I Power Corp, Philippines
- Alfred C Toepfer International GmbH - Germany
- Global Business Power Corporation, Philippines
- Star Paper Mills Limited - India
- Bangladesh Power Developement Board
- Indo Tambangraya Megah - Indonesia
- Karaikal Port Pvt Ltd - India
- Orica Mining Services - Indonesia
- Vizag Seaport Private Limited - India
- CIMB Investment Bank - Malaysia
- Renaissance Capital - South Africa
- Directorate General of MIneral and Coal - Indonesia
- Posco Energy - South Korea
- Jaiprakash Power Ventures ltd
- Petron Corporation, Philippines
- Thiess Contractors Indonesia
- Rio Tinto Coal - Australia
- Australian Commodity Traders Exchange
- Coal and Oil Company - UAE
- Borneo Indobara - Indonesia
- Videocon Industries ltd - India
- Lanco Infratech Ltd - India
- London Commodity Brokers - England
- Heidelberg Cement - Germany
- Bank of Tokyo Mitsubishi UFJ Ltd
- OPG Power Generation Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Bukit Makmur.PT - Indonesia
- Kapuas Tunggal Persada - Indonesia
- VISA Power Limited - India
- Thai Mozambique Logistica
- International Coal Ventures Pvt Ltd - India
- ASAPP Information Group - India
- Essar Steel Hazira Ltd - India
- Agrawal Coal Company - India
- Pendopo Energi Batubara - Indonesia
- Central Java Power - Indonesia
- Latin American Coal - Colombia
- Indian Oil Corporation Limited
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Madhucon Powers Ltd - India
- Uttam Galva Steels Limited - India
- Africa Commodities Group - South Africa
- Simpson Spence & Young - Indonesia
- Ministry of Transport, Egypt
- Electricity Generating Authority of Thailand
- Siam City Cement - Thailand
- PTC India Limited - India
- Makarim & Taira - Indonesia
- Mercator Lines Limited - India
- Sarangani Energy Corporation, Philippines
- The State Trading Corporation of India Ltd
- GN Power Mariveles Coal Plant, Philippines
- Cement Manufacturers Association - India
- Timah Investasi Mineral - Indoneisa
- TeaM Sual Corporation - Philippines
- Australian Coal Association
- Pipit Mutiara Jaya. PT, Indonesia
- CNBM International Corporation - China
- IHS Mccloskey Coal Group - USA
- European Bulk Services B.V. - Netherlands
- Kideco Jaya Agung - Indonesia
- Global Coal Blending Company Limited - Australia
- Wilmar Investment Holdings
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Trasteel International SA, Italy
- Baramulti Group, Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Riau Bara Harum - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Indian Energy Exchange, India
- Bulk Trading Sa - Switzerland
- Sree Jayajothi Cements Limited - India
- Binh Thuan Hamico - Vietnam
- Jindal Steel & Power Ltd - India
- Central Electricity Authority - India
- Commonwealth Bank - Australia
- Wood Mackenzie - Singapore
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