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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, 25 July 13
CAPESIZE : PACIFIC AND ATLANTIC RATES ARE HOLDING STEADY - FEARNLEYS AS
Handy
The Far East market remains quiet even if some Indo coal trip orders were fed in the market at early this week. Prompt ships passing Singapor ...
Thursday, 25 July 13
SUMMER LULL CHIPPING AWAY RECENT GAINS IN DRY BULK FREIGHT RATES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
In what seems to be establishing as a permanent trend, at least for the time being, the dry bulk market kept on retreating yesterday, even if this r ...
Tuesday, 23 July 13
NEWCASTLE'S COAL EXPORTS CLIMB 17.82% ON WEEK, PORT'S DATA SHOWS
COALspot.com: Newcastle port in Australia has loaded 3,369,865 tons of coal for the week ended 0700 hours 22 July 2013, Newcastle Port Corp. s ...
Monday, 22 July 13
DRY BULK MARKET DIFFICULT TO MAINTAIN POSITIVE DRIVE CLAIMS SHIPBROKER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has seen a significant recovery in recent weeks, leading most ship classes to earnings above their operating expenses, thus brin ...
Monday, 22 July 13
INDO COAL SWAP FOR AUGUST 13 DELIVERY GAINED ON WEEK BUT LOST ON DAY AND MONTH
COALspot.com – Sub-Bit Indonesia coal swaps (FOB ) for average August 2013 delivery slightly up on week but fell on day and month on Fri ...
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- Globalindo Alam Lestari - Indonesia
- Gujarat Sidhee Cement - India
- Aditya Birla Group - India
- Miang Besar Coal Terminal - Indonesia
- Ministry of Finance - Indonesia
- Parliament of New Zealand
- Deloitte Consulting - India
- Uttam Galva Steels Limited - India
- Bukit Makmur.PT - Indonesia
- Iligan Light & Power Inc, Philippines
- Madhucon Powers Ltd - India
- Bhatia International Limited - India
- Larsen & Toubro Limited - India
- Anglo American - United Kingdom
- Binh Thuan Hamico - Vietnam
- Tamil Nadu electricity Board
- Indogreen Group - Indonesia
- Straits Asia Resources Limited - Singapore
- Holcim Trading Pte Ltd - Singapore
- Oldendorff Carriers - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- San Jose City I Power Corp, Philippines
- Chettinad Cement Corporation Ltd - India
- Alfred C Toepfer International GmbH - Germany
- SN Aboitiz Power Inc, Philippines
- Lanco Infratech Ltd - India
- Australian Coal Association
- Kalimantan Lumbung Energi - Indonesia
- Global Green Power PLC Corporation, Philippines
- Sojitz Corporation - Japan
- Economic Council, Georgia
- Central Java Power - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Indonesian Coal Mining Association
- Bhoruka Overseas - Indonesia
- The University of Queensland
- Aboitiz Power Corporation - Philippines
- Heidelberg Cement - Germany
- Sarangani Energy Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Trasteel International SA, Italy
- Kohat Cement Company Ltd. - Pakistan
- Therma Luzon, Inc, Philippines
- Banpu Public Company Limited - Thailand
- Renaissance Capital - South Africa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Electricity Generating Authority of Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Global Business Power Corporation, Philippines
- Star Paper Mills Limited - India
- Tata Chemicals Ltd - India
- PNOC Exploration Corporation - Philippines
- Ministry of Mines - Canada
- Thai Mozambique Logistica
- Kumho Petrochemical, South Korea
- PTC India Limited - India
- Latin American Coal - Colombia
- Kobexindo Tractors - Indoneisa
- Mjunction Services Limited - India
- Altura Mining Limited, Indonesia
- Planning Commission, India
- Bukit Asam (Persero) Tbk - Indonesia
- Carbofer General Trading SA - India
- Ind-Barath Power Infra Limited - India
- Port Waratah Coal Services - Australia
- Bayan Resources Tbk. - Indonesia
- Minerals Council of Australia
- McConnell Dowell - Australia
- Coal and Oil Company - UAE
- Pendopo Energi Batubara - Indonesia
- Vizag Seaport Private Limited - India
- Orica Mining Services - Indonesia
- Standard Chartered Bank - UAE
- Essar Steel Hazira Ltd - India
- PowerSource Philippines DevCo
- Sree Jayajothi Cements Limited - India
- Jindal Steel & Power Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Borneo Indobara - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Bharathi Cement Corporation - India
- Sical Logistics Limited - India
- Wilmar Investment Holdings
- Bulk Trading Sa - Switzerland
- Siam City Cement - Thailand
- Indika Energy - Indonesia
- Singapore Mercantile Exchange
- Goldman Sachs - Singapore
- Malabar Cements Ltd - India
- Posco Energy - South Korea
- Meralco Power Generation, Philippines
- Kartika Selabumi Mining - Indonesia
- Indo Tambangraya Megah - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Antam Resourcindo - Indonesia
- Central Electricity Authority - India
- Meenaskhi Energy Private Limited - India
- Thiess Contractors Indonesia
- Rashtriya Ispat Nigam Limited - India
- Kepco SPC Power Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- SMG Consultants - Indonesia
- GAC Shipping (India) Pvt Ltd
- AsiaOL BioFuels Corp., Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- New Zealand Coal & Carbon
- Jaiprakash Power Ventures ltd
- GVK Power & Infra Limited - India
- Power Finance Corporation Ltd., India
- TNB Fuel Sdn Bhd - Malaysia
- Riau Bara Harum - Indonesia
- Merrill Lynch Commodities Europe
- Semirara Mining and Power Corporation, Philippines
- Petron Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Metalloyd Limited - United Kingdom
- Asmin Koalindo Tuhup - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- European Bulk Services B.V. - Netherlands
- The State Trading Corporation of India Ltd
- South Luzon Thermal Energy Corporation
- Orica Australia Pty. Ltd.
- Semirara Mining Corp, Philippines
- The Treasury - Australian Government
- Independent Power Producers Association of India
- Parry Sugars Refinery, India
- Timah Investasi Mineral - Indoneisa
- Mercator Lines Limited - India
- OPG Power Generation Pvt Ltd - India
- Videocon Industries ltd - India
- CIMB Investment Bank - Malaysia
- GN Power Mariveles Coal Plant, Philippines
- Baramulti Group, Indonesia
- Electricity Authority, New Zealand
- Karbindo Abesyapradhi - Indoneisa
- Directorate Of Revenue Intelligence - India
- Gujarat Electricity Regulatory Commission - India
- Coastal Gujarat Power Limited - India
- Kaltim Prima Coal - Indonesia
- Romanian Commodities Exchange
- IHS Mccloskey Coal Group - USA
- Cement Manufacturers Association - India
- GMR Energy Limited - India
- Indian Energy Exchange, India
- Maharashtra Electricity Regulatory Commission - India
- Bhushan Steel Limited - India
- International Coal Ventures Pvt Ltd - India
- Makarim & Taira - Indonesia
- Siam City Cement PLC, Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Gujarat Mineral Development Corp Ltd - India
- Intertek Mineral Services - Indonesia
- MS Steel International - UAE
- Chamber of Mines of South Africa
- Commonwealth Bank - Australia
- Attock Cement Pakistan Limited
- Formosa Plastics Group - Taiwan
- Simpson Spence & Young - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Kideco Jaya Agung - Indonesia
- TeaM Sual Corporation - Philippines
- Agrawal Coal Company - India
- Bangladesh Power Developement Board
- PetroVietnam Power Coal Import and Supply Company
- Grasim Industreis Ltd - India
- Barasentosa Lestari - Indonesia
- India Bulls Power Limited - India
- Manunggal Multi Energi - Indonesia
- SMC Global Power, Philippines
- Wood Mackenzie - Singapore
- Sindya Power Generating Company Private Ltd
- Salva Resources Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Krishnapatnam Port Company Ltd. - India
- CNBM International Corporation - China
- IEA Clean Coal Centre - UK
- Sakthi Sugars Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Ambuja Cements Ltd - India
- Mercuria Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Bukit Baiduri Energy - Indonesia
- Eastern Coal Council - USA
- Dalmia Cement Bharat India
- Marubeni Corporation - India
- Mintek Dendrill Indonesia
- Ministry of Transport, Egypt
- Indian Oil Corporation Limited
- Ceylon Electricity Board - Sri Lanka
- Australian Commodity Traders Exchange
- Global Coal Blending Company Limited - Australia
- Interocean Group of Companies - India
- Eastern Energy - Thailand
- White Energy Company Limited
- Energy Development Corp, Philippines
- Coalindo Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Georgia Ports Authority, United States
- ICICI Bank Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Vedanta Resources Plc - India
- Maheswari Brothers Coal Limited - India
- Xindia Steels Limited - India
- London Commodity Brokers - England
- Savvy Resources Ltd - HongKong
- Edison Trading Spa - Italy
- Africa Commodities Group - South Africa
- Rio Tinto Coal - Australia
- Samtan Co., Ltd - South Korea
- Billiton Holdings Pty Ltd - Australia
- Cigading International Bulk Terminal - Indonesia
- Medco Energi Mining Internasional
- Energy Link Ltd, New Zealand
- ASAPP Information Group - India
- LBH Netherlands Bv - Netherlands
- VISA Power Limited - India
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