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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, 27 June 13
US COAL EXPORTS BEATS CHINESE COAL IMPORTS AS THE MOST INFLUENTIAL COAL TRADE - BIMCO
The influence of American coal exports on seaborne transportation has grown significantly over the past decade. In 2002, the US exported 20.1 millio ...
Thursday, 27 June 13
HANDY : USD 12000 FOR SPOT COAL INDO/CHINA AND AROUND USD 13000 INDO/ECI - FEARNLEYS
Handy
Atlantic rates hold well. Continent to Far East is worth more than USD 14k daily whilst USG to Far East pay 23/24k a day. On the route from B ...
Thursday, 27 June 13
DRY BULK CARRIERS DOMINATE NEWBUILDING ORDERS AS SHIP OWNERS ARE ENCOURAGED BY LATEST FREIGHT RATE RALLY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Newbuilding orders for dry bulk carriers were already high, compared to last year, prior to the latest rally of the Baltic Dry Index (BDI), which ha ...
Tuesday, 25 June 13
CAPESIZE MARKET TO REMAIN BULLISH SAYS ANALYST - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market has been experiencing its long-awaited rally, with the Baltic Dry Index, the industry's benchmark rising to healthier levels fo ...
Tuesday, 25 June 13
NEWCASTLE PORT SHIPPED OUT MORE COAL W-O-W
COALspot.com - Newcastle port in Australia has loaded 3,101,378 tons of coal for the week ended 0700 hours 24 June 2013, Newcastle Port Corp. ...
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- SMC Global Power, Philippines
- Manunggal Multi Energi - Indonesia
- Kaltim Prima Coal - Indonesia
- Carbofer General Trading SA - India
- Mjunction Services Limited - India
- Global Business Power Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- The University of Queensland
- Eastern Coal Council - USA
- Metalloyd Limited - United Kingdom
- Indo Tambangraya Megah - Indonesia
- Straits Asia Resources Limited - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- GN Power Mariveles Coal Plant, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Planning Commission, India
- Central Electricity Authority - India
- Trasteel International SA, Italy
- Renaissance Capital - South Africa
- Sree Jayajothi Cements Limited - India
- Orica Mining Services - Indonesia
- Indogreen Group - Indonesia
- Chettinad Cement Corporation Ltd - India
- Posco Energy - South Korea
- Ministry of Transport, Egypt
- Borneo Indobara - Indonesia
- Madhucon Powers Ltd - India
- Marubeni Corporation - India
- Riau Bara Harum - Indonesia
- Siam City Cement PLC, Thailand
- CNBM International Corporation - China
- Bhushan Steel Limited - India
- Edison Trading Spa - Italy
- Formosa Plastics Group - Taiwan
- Bukit Asam (Persero) Tbk - Indonesia
- Georgia Ports Authority, United States
- Ambuja Cements Ltd - India
- Cement Manufacturers Association - India
- Minerals Council of Australia
- Videocon Industries ltd - India
- Indonesian Coal Mining Association
- Ministry of Mines - Canada
- Ind-Barath Power Infra Limited - India
- Global Green Power PLC Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- New Zealand Coal & Carbon
- Kartika Selabumi Mining - Indonesia
- Africa Commodities Group - South Africa
- AsiaOL BioFuels Corp., Philippines
- Kobexindo Tractors - Indoneisa
- IHS Mccloskey Coal Group - USA
- Goldman Sachs - Singapore
- Sinarmas Energy and Mining - Indonesia
- Mercuria Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- MS Steel International - UAE
- Coal and Oil Company - UAE
- Directorate Of Revenue Intelligence - India
- Globalindo Alam Lestari - Indonesia
- Global Coal Blending Company Limited - Australia
- Singapore Mercantile Exchange
- Economic Council, Georgia
- Merrill Lynch Commodities Europe
- Bharathi Cement Corporation - India
- Siam City Cement - Thailand
- Latin American Coal - Colombia
- India Bulls Power Limited - India
- Gujarat Electricity Regulatory Commission - India
- PNOC Exploration Corporation - Philippines
- GMR Energy Limited - India
- Star Paper Mills Limited - India
- European Bulk Services B.V. - Netherlands
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Essar Steel Hazira Ltd - India
- Therma Luzon, Inc, Philippines
- Rio Tinto Coal - Australia
- Vedanta Resources Plc - India
- Wood Mackenzie - Singapore
- Thai Mozambique Logistica
- TeaM Sual Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- Vizag Seaport Private Limited - India
- Petron Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Tamil Nadu electricity Board
- ASAPP Information Group - India
- Bangladesh Power Developement Board
- Kepco SPC Power Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Simpson Spence & Young - Indonesia
- Xindia Steels Limited - India
- Price Waterhouse Coopers - Russia
- Deloitte Consulting - India
- Sical Logistics Limited - India
- Bukit Baiduri Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Kideco Jaya Agung - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Gujarat Sidhee Cement - India
- Krishnapatnam Port Company Ltd. - India
- Altura Mining Limited, Indonesia
- Mintek Dendrill Indonesia
- Parry Sugars Refinery, India
- LBH Netherlands Bv - Netherlands
- Anglo American - United Kingdom
- Asmin Koalindo Tuhup - Indonesia
- Savvy Resources Ltd - HongKong
- GVK Power & Infra Limited - India
- Power Finance Corporation Ltd., India
- Electricity Authority, New Zealand
- Aditya Birla Group - India
- Bhatia International Limited - India
- Semirara Mining Corp, Philippines
- Indian Energy Exchange, India
- TNB Fuel Sdn Bhd - Malaysia
- Dalmia Cement Bharat India
- Directorate General of MIneral and Coal - Indonesia
- Standard Chartered Bank - UAE
- Australian Coal Association
- Pipit Mutiara Jaya. PT, Indonesia
- Agrawal Coal Company - India
- Lanco Infratech Ltd - India
- PowerSource Philippines DevCo
- International Coal Ventures Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Indian Oil Corporation Limited
- The Treasury - Australian Government
- London Commodity Brokers - England
- Holcim Trading Pte Ltd - Singapore
- Interocean Group of Companies - India
- Banpu Public Company Limited - Thailand
- Toyota Tsusho Corporation, Japan
- Jindal Steel & Power Ltd - India
- Energy Development Corp, Philippines
- Binh Thuan Hamico - Vietnam
- Leighton Contractors Pty Ltd - Australia
- Electricity Generating Authority of Thailand
- Grasim Industreis Ltd - India
- PTC India Limited - India
- Central Java Power - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mercator Lines Limited - India
- Sindya Power Generating Company Private Ltd
- CIMB Investment Bank - Malaysia
- Tata Chemicals Ltd - India
- Larsen & Toubro Limited - India
- Antam Resourcindo - Indonesia
- Oldendorff Carriers - Singapore
- Jaiprakash Power Ventures ltd
- ICICI Bank Limited - India
- Pendopo Energi Batubara - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Orica Australia Pty. Ltd.
- Baramulti Group, Indonesia
- Samtan Co., Ltd - South Korea
- Malabar Cements Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Romanian Commodities Exchange
- Bhoruka Overseas - Indonesia
- Thiess Contractors Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Parliament of New Zealand
- Chamber of Mines of South Africa
- Ministry of Finance - Indonesia
- Energy Link Ltd, New Zealand
- Barasentosa Lestari - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Wilmar Investment Holdings
- VISA Power Limited - India
- Cigading International Bulk Terminal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Sojitz Corporation - Japan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Intertek Mineral Services - Indonesia
- SMG Consultants - Indonesia
- Heidelberg Cement - Germany
- Salva Resources Pvt Ltd - India
- Meralco Power Generation, Philippines
- Maheswari Brothers Coal Limited - India
- IEA Clean Coal Centre - UK
- Makarim & Taira - Indonesia
- South Luzon Thermal Energy Corporation
- Karaikal Port Pvt Ltd - India
- Coalindo Energy - Indonesia
- Eastern Energy - Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ceylon Electricity Board - Sri Lanka
- Independent Power Producers Association of India
- Bulk Trading Sa - Switzerland
- Kumho Petrochemical, South Korea
- Port Waratah Coal Services - Australia
- Sarangani Energy Corporation, Philippines
- Attock Cement Pakistan Limited
- GAC Shipping (India) Pvt Ltd
- Uttam Galva Steels Limited - India
- Sakthi Sugars Limited - India
- PetroVietnam Power Coal Import and Supply Company
- OPG Power Generation Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- White Energy Company Limited
- Semirara Mining and Power Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- McConnell Dowell - Australia
- Australian Commodity Traders Exchange
- Indika Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Bukit Makmur.PT - Indonesia
- Commonwealth Bank - Australia
- Coastal Gujarat Power Limited - India
- Bayan Resources Tbk. - Indonesia
- Medco Energi Mining Internasional
- The State Trading Corporation of India Ltd
- Aboitiz Power Corporation - Philippines
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