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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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Saturday, 10 August 13
DEMOLITION ACTIVITY TO BE CRUCIAL AGAIN IN PROVIDING SUPPORT TO THE DRY BULK MARKET - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
We appear to have forgotten demolition activity this year, with the Baltic Dry Index gaining traction in the latter part of the second half and emer ...
Friday, 09 August 13
US PRODUCED 4.00 PERCENT LESS COAL ON WEEK
COALspot.com – United states the world’s second largest coal producer produced totaled approximately 20.00 million short tons (mmst) of ...
Thursday, 08 August 13
HANDY : NO POSITIVE SENTIMENT FOR THE FAR EAST MARKET - FEARNRESEARCH
Handy
No positive sentiment for the Far East market. There are a number of ships coming open in SE Asia this week and owners rating mid/high USD 8k ...
Thursday, 08 August 13
MALAYSIA HOSTS THIRD ANNUAL ASIAN SUB-BITUMINOUS COAL USERS' GROUP CONFERENCE
Press Release : The third Annual Asian Sub-Bituminous Coal Users’ Group (ASBCUG) conference convenes Sept. 30-Oct. 3 at the Eastern & Orie ...
Wednesday, 07 August 13
HANDIES : FINDING IT DIFFICULT TO SUSTAIN THEIR PREVIOUS LEVELS - KONSTANTINOS KONTOMICHIS
Broker's insight
by Konstantinos Kontomichis,
SnP Broker
Entering the most predictable month of the year, as expected the seasonal effects ha ...
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- Ministry of Finance - Indonesia
- Standard Chartered Bank - UAE
- Orica Mining Services - Indonesia
- Kaltim Prima Coal - Indonesia
- ICICI Bank Limited - India
- Central Java Power - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Electricity Generating Authority of Thailand
- Latin American Coal - Colombia
- Planning Commission, India
- Madhucon Powers Ltd - India
- Grasim Industreis Ltd - India
- Aditya Birla Group - India
- SN Aboitiz Power Inc, Philippines
- Oldendorff Carriers - Singapore
- Attock Cement Pakistan Limited
- Cigading International Bulk Terminal - Indonesia
- Mintek Dendrill Indonesia
- European Bulk Services B.V. - Netherlands
- Riau Bara Harum - Indonesia
- Vedanta Resources Plc - India
- ASAPP Information Group - India
- AsiaOL BioFuels Corp., Philippines
- IEA Clean Coal Centre - UK
- CNBM International Corporation - China
- Coal and Oil Company - UAE
- MS Steel International - UAE
- Sakthi Sugars Limited - India
- Sojitz Corporation - Japan
- Mercuria Energy - Indonesia
- Antam Resourcindo - Indonesia
- Sarangani Energy Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Lanco Infratech Ltd - India
- Indian Oil Corporation Limited
- PetroVietnam Power Coal Import and Supply Company
- PNOC Exploration Corporation - Philippines
- Australian Commodity Traders Exchange
- Medco Energi Mining Internasional
- Xindia Steels Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Billiton Holdings Pty Ltd - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Economic Council, Georgia
- Sical Logistics Limited - India
- Jindal Steel & Power Ltd - India
- Malabar Cements Ltd - India
- India Bulls Power Limited - India
- Parry Sugars Refinery, India
- Eastern Energy - Thailand
- Sree Jayajothi Cements Limited - India
- Thai Mozambique Logistica
- Cement Manufacturers Association - India
- Wood Mackenzie - Singapore
- Globalindo Alam Lestari - Indonesia
- VISA Power Limited - India
- Meenaskhi Energy Private Limited - India
- Semirara Mining and Power Corporation, Philippines
- Baramulti Group, Indonesia
- Edison Trading Spa - Italy
- Barasentosa Lestari - Indonesia
- Agrawal Coal Company - India
- Posco Energy - South Korea
- San Jose City I Power Corp, Philippines
- Energy Development Corp, Philippines
- Romanian Commodities Exchange
- Samtan Co., Ltd - South Korea
- Directorate General of MIneral and Coal - Indonesia
- Intertek Mineral Services - Indonesia
- Rio Tinto Coal - Australia
- Ambuja Cements Ltd - India
- Tamil Nadu electricity Board
- Global Business Power Corporation, Philippines
- PowerSource Philippines DevCo
- Indogreen Group - Indonesia
- Renaissance Capital - South Africa
- SMC Global Power, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Therma Luzon, Inc, Philippines
- Interocean Group of Companies - India
- Dalmia Cement Bharat India
- Australian Coal Association
- Pendopo Energi Batubara - Indonesia
- Merrill Lynch Commodities Europe
- Asmin Koalindo Tuhup - Indonesia
- Power Finance Corporation Ltd., India
- Bhoruka Overseas - Indonesia
- Tata Chemicals Ltd - India
- Salva Resources Pvt Ltd - India
- Parliament of New Zealand
- Goldman Sachs - Singapore
- Ceylon Electricity Board - Sri Lanka
- Deloitte Consulting - India
- Gujarat Sidhee Cement - India
- IHS Mccloskey Coal Group - USA
- Timah Investasi Mineral - Indoneisa
- Bayan Resources Tbk. - Indonesia
- Makarim & Taira - Indonesia
- Holcim Trading Pte Ltd - Singapore
- PTC India Limited - India
- Kepco SPC Power Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Petron Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Marubeni Corporation - India
- Aboitiz Power Corporation - Philippines
- Siam City Cement PLC, Thailand
- Videocon Industries ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Indo Tambangraya Megah - Indonesia
- Directorate Of Revenue Intelligence - India
- Ind-Barath Power Infra Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- GAC Shipping (India) Pvt Ltd
- Kalimantan Lumbung Energi - Indonesia
- Bukit Makmur.PT - Indonesia
- Krishnapatnam Port Company Ltd. - India
- London Commodity Brokers - England
- Global Green Power PLC Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- New Zealand Coal & Carbon
- Alfred C Toepfer International GmbH - Germany
- Kobexindo Tractors - Indoneisa
- Anglo American - United Kingdom
- Independent Power Producers Association of India
- Price Waterhouse Coopers - Russia
- Commonwealth Bank - Australia
- Formosa Plastics Group - Taiwan
- Metalloyd Limited - United Kingdom
- Binh Thuan Hamico - Vietnam
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Orica Australia Pty. Ltd.
- Savvy Resources Ltd - HongKong
- Bahari Cakrawala Sebuku - Indonesia
- LBH Netherlands Bv - Netherlands
- Coalindo Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Ministry of Mines - Canada
- Mjunction Services Limited - India
- Jaiprakash Power Ventures ltd
- Minerals Council of Australia
- Vijayanagar Sugar Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Iligan Light & Power Inc, Philippines
- Heidelberg Cement - Germany
- Simpson Spence & Young - Indonesia
- Straits Asia Resources Limited - Singapore
- Africa Commodities Group - South Africa
- Leighton Contractors Pty Ltd - Australia
- Altura Mining Limited, Indonesia
- GMR Energy Limited - India
- Karaikal Port Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Maheswari Brothers Coal Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Bulk Trading Sa - Switzerland
- Neyveli Lignite Corporation Ltd, - India
- Chamber of Mines of South Africa
- Mercator Lines Limited - India
- Vizag Seaport Private Limited - India
- CIMB Investment Bank - Malaysia
- Meralco Power Generation, Philippines
- Siam City Cement - Thailand
- Kumho Petrochemical, South Korea
- Star Paper Mills Limited - India
- White Energy Company Limited
- OPG Power Generation Pvt Ltd - India
- McConnell Dowell - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Karbindo Abesyapradhi - Indoneisa
- Kartika Selabumi Mining - Indonesia
- Semirara Mining Corp, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Larsen & Toubro Limited - India
- Port Waratah Coal Services - Australia
- Singapore Mercantile Exchange
- Sinarmas Energy and Mining - Indonesia
- Toyota Tsusho Corporation, Japan
- SMG Consultants - Indonesia
- International Coal Ventures Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- South Luzon Thermal Energy Corporation
- Chettinad Cement Corporation Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Trasteel International SA, Italy
- Essar Steel Hazira Ltd - India
- Georgia Ports Authority, United States
- Bangladesh Power Developement Board
- Bharathi Cement Corporation - India
- Bukit Baiduri Energy - Indonesia
- Ministry of Transport, Egypt
- Bukit Asam (Persero) Tbk - Indonesia
- Bhushan Steel Limited - India
- Indian Energy Exchange, India
- Borneo Indobara - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- The Treasury - Australian Government
- Thiess Contractors Indonesia
- Central Electricity Authority - India
- Carbofer General Trading SA - India
- Eastern Coal Council - USA
- Gujarat Electricity Regulatory Commission - India
- Indonesian Coal Mining Association
- Gujarat Mineral Development Corp Ltd - India
- Electricity Authority, New Zealand
- Wilmar Investment Holdings
- Uttam Galva Steels Limited - India
- The University of Queensland
- Pipit Mutiara Jaya. PT, Indonesia
- Coastal Gujarat Power Limited - India
- Indika Energy - Indonesia
- GVK Power & Infra Limited - India
- Global Coal Blending Company Limited - Australia
- Energy Link Ltd, New Zealand
- Jorong Barutama Greston.PT - Indonesia
- Bhatia International Limited - India
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