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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, 06 September 13
DRY BULK MARKET REACHES NEW YEAR-HIGHS ON THE BACK OF INCREASED CAPESIZE DEMAND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has been on the rise once again, but this time around any new increase of freight rates translates into new year-highs, thus bri ...
Friday, 06 September 13
US PRODUCED APPROXIMATELY 90.80 MMST OF COAL IN AUGUST
COALspot.com – United states the world’s second largest coal producer produced totaled approximately 20.90 million short tons (mmst) of ...
Thursday, 05 September 13
INDONESIAN COAL EXPORTS UP BY 6.72 PERCENT IN JULY
COALspot.com: Indonesia, the world's largest multi grade coal exporter shipped 35.268* million tons of coal in July 2013. Indonesian coal exp ...
Thursday, 05 September 13
HANDY: NICKEL ORE WAS PUSHING THE FAR EAST MARKET - FEARNLEYS
Handy
Nickel Ore was pushing the Feast market, several ships were fixed from low teens to $14k. Indo/India was still supported by bauxite, while th ...
Thursday, 05 September 13
DRY BULK MARKET ON A HIGH ROLL, MAINLY THANKS TO CAPESIZE APPETITE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Capesize owners have been rejoycing on the back of renewed optimism for the further rise in the dry bulk market's freight rates, especially when on ...
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- Ministry of Mines - Canada
- Kobexindo Tractors - Indoneisa
- Asmin Koalindo Tuhup - Indonesia
- Tata Chemicals Ltd - India
- TeaM Sual Corporation - Philippines
- GMR Energy Limited - India
- Iligan Light & Power Inc, Philippines
- Ambuja Cements Ltd - India
- Wood Mackenzie - Singapore
- Riau Bara Harum - Indonesia
- Larsen & Toubro Limited - India
- Manunggal Multi Energi - Indonesia
- International Coal Ventures Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Mercuria Energy - Indonesia
- Tamil Nadu electricity Board
- Pendopo Energi Batubara - Indonesia
- Bulk Trading Sa - Switzerland
- Banpu Public Company Limited - Thailand
- Energy Link Ltd, New Zealand
- Gujarat Electricity Regulatory Commission - India
- Singapore Mercantile Exchange
- CNBM International Corporation - China
- Bangladesh Power Developement Board
- Chamber of Mines of South Africa
- Sarangani Energy Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- SMG Consultants - Indonesia
- Sakthi Sugars Limited - India
- Sinarmas Energy and Mining - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- PNOC Exploration Corporation - Philippines
- Grasim Industreis Ltd - India
- Eastern Coal Council - USA
- India Bulls Power Limited - India
- Semirara Mining Corp, Philippines
- Baramulti Group, Indonesia
- Semirara Mining and Power Corporation, Philippines
- Eastern Energy - Thailand
- Cigading International Bulk Terminal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Holcim Trading Pte Ltd - Singapore
- Siam City Cement PLC, Thailand
- Jaiprakash Power Ventures ltd
- Cement Manufacturers Association - India
- Romanian Commodities Exchange
- Renaissance Capital - South Africa
- Karbindo Abesyapradhi - Indoneisa
- Latin American Coal - Colombia
- Star Paper Mills Limited - India
- CIMB Investment Bank - Malaysia
- IEA Clean Coal Centre - UK
- Formosa Plastics Group - Taiwan
- Gujarat Sidhee Cement - India
- Port Waratah Coal Services - Australia
- Kohat Cement Company Ltd. - Pakistan
- Directorate Of Revenue Intelligence - India
- Central Electricity Authority - India
- Electricity Authority, New Zealand
- Alfred C Toepfer International GmbH - Germany
- Timah Investasi Mineral - Indoneisa
- Binh Thuan Hamico - Vietnam
- Billiton Holdings Pty Ltd - Australia
- Australian Coal Association
- Bank of Tokyo Mitsubishi UFJ Ltd
- PetroVietnam Power Coal Import and Supply Company
- Borneo Indobara - Indonesia
- Minerals Council of Australia
- Bukit Makmur.PT - Indonesia
- Meralco Power Generation, Philippines
- Planning Commission, India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indogreen Group - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Mjunction Services Limited - India
- Parry Sugars Refinery, India
- New Zealand Coal & Carbon
- Miang Besar Coal Terminal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Antam Resourcindo - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Edison Trading Spa - Italy
- PowerSource Philippines DevCo
- Petrochimia International Co. Ltd.- Taiwan
- Bayan Resources Tbk. - Indonesia
- Coalindo Energy - Indonesia
- Africa Commodities Group - South Africa
- Lanco Infratech Ltd - India
- Makarim & Taira - Indonesia
- San Jose City I Power Corp, Philippines
- Malabar Cements Ltd - India
- Marubeni Corporation - India
- McConnell Dowell - Australia
- Altura Mining Limited, Indonesia
- Oldendorff Carriers - Singapore
- Bhoruka Overseas - Indonesia
- ASAPP Information Group - India
- The Treasury - Australian Government
- Agrawal Coal Company - India
- Pipit Mutiara Jaya. PT, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- South Luzon Thermal Energy Corporation
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Australian Commodity Traders Exchange
- Bukit Baiduri Energy - Indonesia
- Energy Development Corp, Philippines
- Merrill Lynch Commodities Europe
- Barasentosa Lestari - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Goldman Sachs - Singapore
- Chettinad Cement Corporation Ltd - India
- Dalmia Cement Bharat India
- Siam City Cement - Thailand
- Maharashtra Electricity Regulatory Commission - India
- Medco Energi Mining Internasional
- Bharathi Cement Corporation - India
- Meenaskhi Energy Private Limited - India
- PTC India Limited - India
- SMC Global Power, Philippines
- Straits Asia Resources Limited - Singapore
- Uttam Galva Steels Limited - India
- Ministry of Finance - Indonesia
- Ind-Barath Power Infra Limited - India
- The University of Queensland
- Jindal Steel & Power Ltd - India
- Therma Luzon, Inc, Philippines
- European Bulk Services B.V. - Netherlands
- Salva Resources Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Aboitiz Power Corporation - Philippines
- Sojitz Corporation - Japan
- Samtan Co., Ltd - South Korea
- Deloitte Consulting - India
- Krishnapatnam Port Company Ltd. - India
- Xindia Steels Limited - India
- OPG Power Generation Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Rio Tinto Coal - Australia
- ICICI Bank Limited - India
- Indo Tambangraya Megah - Indonesia
- Georgia Ports Authority, United States
- Commonwealth Bank - Australia
- AsiaOL BioFuels Corp., Philippines
- Electricity Generating Authority of Thailand
- Coastal Gujarat Power Limited - India
- Videocon Industries ltd - India
- Orica Mining Services - Indonesia
- Karaikal Port Pvt Ltd - India
- London Commodity Brokers - England
- Kepco SPC Power Corporation, Philippines
- Attock Cement Pakistan Limited
- Indonesian Coal Mining Association
- Bhushan Steel Limited - India
- Intertek Mineral Services - Indonesia
- Parliament of New Zealand
- Interocean Group of Companies - India
- Kideco Jaya Agung - Indonesia
- Posco Energy - South Korea
- GAC Shipping (India) Pvt Ltd
- Essar Steel Hazira Ltd - India
- Savvy Resources Ltd - HongKong
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indika Energy - Indonesia
- Global Business Power Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Madhucon Powers Ltd - India
- Indian Oil Corporation Limited
- VISA Power Limited - India
- Toyota Tsusho Corporation, Japan
- Sree Jayajothi Cements Limited - India
- The State Trading Corporation of India Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Asam (Persero) Tbk - Indonesia
- Standard Chartered Bank - UAE
- Central Java Power - Indonesia
- Trasteel International SA, Italy
- Bhatia International Limited - India
- Aditya Birla Group - India
- MS Steel International - UAE
- Coal and Oil Company - UAE
- GVK Power & Infra Limited - India
- Wilmar Investment Holdings
- Heidelberg Cement - Germany
- Maheswari Brothers Coal Limited - India
- Vedanta Resources Plc - India
- Globalindo Alam Lestari - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Rashtriya Ispat Nigam Limited - India
- Directorate General of MIneral and Coal - Indonesia
- White Energy Company Limited
- Petron Corporation, Philippines
- Vizag Seaport Private Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Carbofer General Trading SA - India
- Kumho Petrochemical, South Korea
- Kartika Selabumi Mining - Indonesia
- Orica Australia Pty. Ltd.
- Power Finance Corporation Ltd., India
- Ministry of Transport, Egypt
- Independent Power Producers Association of India
- Thiess Contractors Indonesia
- Sical Logistics Limited - India
- Economic Council, Georgia
- Thai Mozambique Logistica
- Sindya Power Generating Company Private Ltd
- IHS Mccloskey Coal Group - USA
- Global Coal Blending Company Limited - Australia
- Kaltim Prima Coal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Indian Energy Exchange, India
- Mercator Lines Limited - India
- Mintek Dendrill Indonesia
- Anglo American - United Kingdom
- Neyveli Lignite Corporation Ltd, - India
- Simpson Spence & Young - Indonesia
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