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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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Wednesday, 17 July 13
NEWCASTLE COAL EXPORTS FELL 3.85% ON WEEK
COALspot.com: Newcastle port in Australia has loaded 2,860,149 tons of coal for the week ended 0700 hours 15 July 2013, Newcastle Port Corp. s ...
Wednesday, 17 July 13
TORN BETWEEN A CREDIT CRUNCH AND SUSTAINABLE GROWTH - GEORGE DERMATIS
COALspot.com: In 2012 China expanded at a rate of 7.8%, its worst annual performance in 13 years, raising criticism over the newly appointed governm ...
Tuesday, 16 July 13
TAKE - OR - PAY CONTRACTS CONTINUE TO INCENTIVISE AUSTRALIAN COAL PRODUCERS DESPITE POTENTIAL NEGATIVE CASH MARGINS - WOOD MACKENZIE
Australia's coal production has continued to grow, despite lower coal prices in 2013. Global investors and suppliers are therefore questioning whet ...
Monday, 15 July 13
INDONESIAN GOVERNMENT HAS REVISED DOWN ITS JULY BENCH-MARK COAL PRICE TO US$ 81.69 PER MT
COALspot. com - Indonesian Coal Price Reference dropped 3.75 % and hitting a 2013 low. The Indonesian government has revised down its owned coal ben ...
Monday, 15 July 13
INDO COAL SWAPS ARE STRUGGLING FOR RIGHT DIRECTION
COALspot.com – Indo coal swaps are struggling to find the right direction. Sub-Bit Indonesia coal swaps (FOB ) for average August 2013 d ...
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- Siam City Cement - Thailand
- Energy Link Ltd, New Zealand
- Baramulti Group, Indonesia
- Coastal Gujarat Power Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Borneo Indobara - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Georgia Ports Authority, United States
- Interocean Group of Companies - India
- Neyveli Lignite Corporation Ltd, - India
- Therma Luzon, Inc, Philippines
- Edison Trading Spa - Italy
- Aditya Birla Group - India
- Ceylon Electricity Board - Sri Lanka
- Parliament of New Zealand
- Energy Development Corp, Philippines
- Parry Sugars Refinery, India
- Indonesian Coal Mining Association
- Bahari Cakrawala Sebuku - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- New Zealand Coal & Carbon
- Makarim & Taira - Indonesia
- Chettinad Cement Corporation Ltd - India
- Directorate Of Revenue Intelligence - India
- South Luzon Thermal Energy Corporation
- Deloitte Consulting - India
- Bukit Baiduri Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Commonwealth Bank - Australia
- Orica Australia Pty. Ltd.
- Electricity Authority, New Zealand
- SMC Global Power, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
- The University of Queensland
- Orica Mining Services - Indonesia
- Bukit Makmur.PT - Indonesia
- Savvy Resources Ltd - HongKong
- VISA Power Limited - India
- Thiess Contractors Indonesia
- Sojitz Corporation - Japan
- Pendopo Energi Batubara - Indonesia
- Dalmia Cement Bharat India
- The State Trading Corporation of India Ltd
- Posco Energy - South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Mercator Lines Limited - India
- Gujarat Sidhee Cement - India
- Petrochimia International Co. Ltd.- Taiwan
- Kohat Cement Company Ltd. - Pakistan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Altura Mining Limited, Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Port Waratah Coal Services - Australia
- Medco Energi Mining Internasional
- Central Java Power - Indonesia
- Thai Mozambique Logistica
- Karaikal Port Pvt Ltd - India
- Star Paper Mills Limited - India
- Marubeni Corporation - India
- Petron Corporation, Philippines
- Indian Energy Exchange, India
- Kideco Jaya Agung - Indonesia
- Toyota Tsusho Corporation, Japan
- Global Coal Blending Company Limited - Australia
- Krishnapatnam Port Company Ltd. - India
- Lanco Infratech Ltd - India
- Mercuria Energy - Indonesia
- Tata Chemicals Ltd - India
- Minerals Council of Australia
- Timah Investasi Mineral - Indoneisa
- Planning Commission, India
- Bangladesh Power Developement Board
- Bukit Asam (Persero) Tbk - Indonesia
- Tamil Nadu electricity Board
- Trasteel International SA, Italy
- SN Aboitiz Power Inc, Philippines
- Straits Asia Resources Limited - Singapore
- Malabar Cements Ltd - India
- Kapuas Tunggal Persada - Indonesia
- White Energy Company Limited
- Ministry of Transport, Egypt
- Eastern Coal Council - USA
- PNOC Exploration Corporation - Philippines
- Maheswari Brothers Coal Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Jorong Barutama Greston.PT - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Power Finance Corporation Ltd., India
- Indian Oil Corporation Limited
- Kobexindo Tractors - Indoneisa
- Cigading International Bulk Terminal - Indonesia
- London Commodity Brokers - England
- Directorate General of MIneral and Coal - Indonesia
- Bharathi Cement Corporation - India
- Renaissance Capital - South Africa
- Bhushan Steel Limited - India
- ICICI Bank Limited - India
- Globalindo Alam Lestari - Indonesia
- GAC Shipping (India) Pvt Ltd
- Xindia Steels Limited - India
- Billiton Holdings Pty Ltd - Australia
- Coalindo Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Chamber of Mines of South Africa
- Alfred C Toepfer International GmbH - Germany
- Barasentosa Lestari - Indonesia
- GMR Energy Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Vizag Seaport Private Limited - India
- Agrawal Coal Company - India
- Miang Besar Coal Terminal - Indonesia
- Wood Mackenzie - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Coal and Oil Company - UAE
- International Coal Ventures Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Africa Commodities Group - South Africa
- Simpson Spence & Young - Indonesia
- Banpu Public Company Limited - Thailand
- Heidelberg Cement - Germany
- Attock Cement Pakistan Limited
- TeaM Sual Corporation - Philippines
- Kepco SPC Power Corporation, Philippines
- Jaiprakash Power Ventures ltd
- CNBM International Corporation - China
- Goldman Sachs - Singapore
- Bulk Trading Sa - Switzerland
- Ind-Barath Power Infra Limited - India
- San Jose City I Power Corp, Philippines
- Mjunction Services Limited - India
- Eastern Energy - Thailand
- Indo Tambangraya Megah - Indonesia
- European Bulk Services B.V. - Netherlands
- ASAPP Information Group - India
- Ministry of Finance - Indonesia
- Independent Power Producers Association of India
- Siam City Cement PLC, Thailand
- Riau Bara Harum - Indonesia
- Australian Coal Association
- Metalloyd Limited - United Kingdom
- Carbofer General Trading SA - India
- Electricity Generating Authority of Thailand
- Bayan Resources Tbk. - Indonesia
- Wilmar Investment Holdings
- The Treasury - Australian Government
- Central Electricity Authority - India
- Singapore Mercantile Exchange
- Sinarmas Energy and Mining - Indonesia
- Sakthi Sugars Limited - India
- IHS Mccloskey Coal Group - USA
- Formosa Plastics Group - Taiwan
- Iligan Light & Power Inc, Philippines
- Essar Steel Hazira Ltd - India
- Videocon Industries ltd - India
- Latin American Coal - Colombia
- Bhoruka Overseas - Indonesia
- MS Steel International - UAE
- Bhatia International Limited - India
- CIMB Investment Bank - Malaysia
- Binh Thuan Hamico - Vietnam
- Ambuja Cements Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Kaltim Prima Coal - Indonesia
- Semirara Mining Corp, Philippines
- Economic Council, Georgia
- LBH Netherlands Bv - Netherlands
- McConnell Dowell - Australia
- Global Business Power Corporation, Philippines
- Samtan Co., Ltd - South Korea
- India Bulls Power Limited - India
- Indogreen Group - Indonesia
- Oldendorff Carriers - Singapore
- Sarangani Energy Corporation, Philippines
- Merrill Lynch Commodities Europe
- PowerSource Philippines DevCo
- Anglo American - United Kingdom
- Madhucon Powers Ltd - India
- Meralco Power Generation, Philippines
- Romanian Commodities Exchange
- Meenaskhi Energy Private Limited - India
- Vedanta Resources Plc - India
- GVK Power & Infra Limited - India
- Indika Energy - Indonesia
- Uttam Galva Steels Limited - India
- Sindya Power Generating Company Private Ltd
- Ministry of Mines - Canada
- Price Waterhouse Coopers - Russia
- Sical Logistics Limited - India
- PTC India Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Intertek Mineral Services - Indonesia
- Cement Manufacturers Association - India
- Kalimantan Lumbung Energi - Indonesia
- Global Green Power PLC Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Larsen & Toubro Limited - India
- Salva Resources Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- OPG Power Generation Pvt Ltd - India
- Standard Chartered Bank - UAE
- Australian Commodity Traders Exchange
- Antam Resourcindo - Indonesia
- SMG Consultants - Indonesia
- Mintek Dendrill Indonesia
- Grasim Industreis Ltd - India
- Kartika Selabumi Mining - Indonesia
- Rio Tinto Coal - Australia
- Rashtriya Ispat Nigam Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Kumho Petrochemical, South Korea
- IEA Clean Coal Centre - UK
- Gujarat Electricity Regulatory Commission - India
- Manunggal Multi Energi - Indonesia
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