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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, 13 June 13
HANDY: SHORT PERIOD WERE FIXED AT AROUND USD 9000 LEVEL
Handy
Despite falling rates for bigger sizes, the Supras in Atlantic are seeing some improvements with fresh biz. US Gulf positions fetching tick a ...
Thursday, 13 June 13
BIMCO EXPECTS SUBDUED CAPESIZE EARNINGS FOR THE COMING WEEKS - HELLENIC SHIPPING NEWS
Bulk is not only about China even though it is a key driver. In this section, we have taken a closer look at the European seaborne coal markets, whi ...
Thursday, 13 June 13
RIO TINTO AGREES SALE OF EAGLE PROJECT FOR AN ESTIMATED US$325 MILLION IN CASH
COALspot.com - Rio Tinto has reached a binding agreement to sell its Eagle project to Lundin Mining Corporation for an estimated US$325 million in c ...
Thursday, 13 June 13
HARD COAL IMPORTS RISE SHARPLY IN GERMANY IN Q1 2013 - COAL IMPORTERS ASSOCIATION
Coal-fired Power Plants in Germany: Pillars of the Grid and the Energy Turnaround; Hard Coal Consumption and Hard Coal Imports Rise Sharply in Germa ...
Wednesday, 12 June 13
INDONESIAN COAL PRICE REFERENCE SLIDES TO 2013 LOW
COALspot.com - Indonesian Coal Price Reference continues to take its lumps this month, dropping about 0.54 % and hitting a 2013 low. The Indonesian ...
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- SMG Consultants - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Bhushan Steel Limited - India
- Australian Coal Association
- Leighton Contractors Pty Ltd - Australia
- Uttam Galva Steels Limited - India
- Goldman Sachs - Singapore
- Merrill Lynch Commodities Europe
- Malabar Cements Ltd - India
- Indogreen Group - Indonesia
- Intertek Mineral Services - Indonesia
- Salva Resources Pvt Ltd - India
- Borneo Indobara - Indonesia
- Parliament of New Zealand
- The University of Queensland
- Orica Australia Pty. Ltd.
- Sical Logistics Limited - India
- Indonesian Coal Mining Association
- Eastern Energy - Thailand
- Mercator Lines Limited - India
- MS Steel International - UAE
- Agrawal Coal Company - India
- Georgia Ports Authority, United States
- Trasteel International SA, Italy
- Rio Tinto Coal - Australia
- Coastal Gujarat Power Limited - India
- Bulk Trading Sa - Switzerland
- Energy Development Corp, Philippines
- Bayan Resources Tbk. - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Barasentosa Lestari - Indonesia
- ASAPP Information Group - India
- Semirara Mining and Power Corporation, Philippines
- Semirara Mining Corp, Philippines
- Xindia Steels Limited - India
- Chettinad Cement Corporation Ltd - India
- Vedanta Resources Plc - India
- Standard Chartered Bank - UAE
- Kartika Selabumi Mining - Indonesia
- GVK Power & Infra Limited - India
- Savvy Resources Ltd - HongKong
- Iligan Light & Power Inc, Philippines
- Singapore Mercantile Exchange
- Makarim & Taira - Indonesia
- Kideco Jaya Agung - Indonesia
- Dalmia Cement Bharat India
- Alfred C Toepfer International GmbH - Germany
- PNOC Exploration Corporation - Philippines
- Eastern Coal Council - USA
- Sojitz Corporation - Japan
- Ceylon Electricity Board - Sri Lanka
- Jaiprakash Power Ventures ltd
- Global Business Power Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- IEA Clean Coal Centre - UK
- Gujarat Electricity Regulatory Commission - India
- Jorong Barutama Greston.PT - Indonesia
- Essar Steel Hazira Ltd - India
- CNBM International Corporation - China
- Star Paper Mills Limited - India
- India Bulls Power Limited - India
- Commonwealth Bank - Australia
- Ind-Barath Power Infra Limited - India
- Posco Energy - South Korea
- San Jose City I Power Corp, Philippines
- TeaM Sual Corporation - Philippines
- Parry Sugars Refinery, India
- Chamber of Mines of South Africa
- Medco Energi Mining Internasional
- Maheswari Brothers Coal Limited - India
- Africa Commodities Group - South Africa
- Central Java Power - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Globalindo Alam Lestari - Indonesia
- Interocean Group of Companies - India
- Mintek Dendrill Indonesia
- Petron Corporation, Philippines
- Economic Council, Georgia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coalindo Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Electricity Authority, New Zealand
- OPG Power Generation Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Bukit Baiduri Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Thai Mozambique Logistica
- Tamil Nadu electricity Board
- Kohat Cement Company Ltd. - Pakistan
- Formosa Plastics Group - Taiwan
- Pipit Mutiara Jaya. PT, Indonesia
- McConnell Dowell - Australia
- Bangladesh Power Developement Board
- Global Green Power PLC Corporation, Philippines
- Electricity Generating Authority of Thailand
- Mercuria Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- CIMB Investment Bank - Malaysia
- Carbofer General Trading SA - India
- Meralco Power Generation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Binh Thuan Hamico - Vietnam
- Metalloyd Limited - United Kingdom
- GMR Energy Limited - India
- Bukit Makmur.PT - Indonesia
- Wood Mackenzie - Singapore
- Antam Resourcindo - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Sakthi Sugars Limited - India
- Riau Bara Harum - Indonesia
- Sarangani Energy Corporation, Philippines
- Independent Power Producers Association of India
- Banpu Public Company Limited - Thailand
- Manunggal Multi Energi - Indonesia
- Coal and Oil Company - UAE
- Planning Commission, India
- Latin American Coal - Colombia
- Kepco SPC Power Corporation, Philippines
- Ambuja Cements Ltd - India
- Grasim Industreis Ltd - India
- New Zealand Coal & Carbon
- Vijayanagar Sugar Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Aboitiz Power Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- Gujarat Sidhee Cement - India
- Australian Commodity Traders Exchange
- Power Finance Corporation Ltd., India
- White Energy Company Limited
- Pendopo Energi Batubara - Indonesia
- Deloitte Consulting - India
- Oldendorff Carriers - Singapore
- Samtan Co., Ltd - South Korea
- Larsen & Toubro Limited - India
- Therma Luzon, Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Rashtriya Ispat Nigam Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Kalimantan Lumbung Energi - Indonesia
- Ministry of Mines - Canada
- Altura Mining Limited, Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Siam City Cement PLC, Thailand
- Karaikal Port Pvt Ltd - India
- London Commodity Brokers - England
- Attock Cement Pakistan Limited
- Romanian Commodities Exchange
- Marubeni Corporation - India
- Siam City Cement - Thailand
- Energy Link Ltd, New Zealand
- The State Trading Corporation of India Ltd
- IHS Mccloskey Coal Group - USA
- Edison Trading Spa - Italy
- Bhoruka Overseas - Indonesia
- Indian Oil Corporation Limited
- Miang Besar Coal Terminal - Indonesia
- Orica Mining Services - Indonesia
- The Treasury - Australian Government
- Timah Investasi Mineral - Indoneisa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GAC Shipping (India) Pvt Ltd
- Straits Asia Resources Limited - Singapore
- PTC India Limited - India
- Meenaskhi Energy Private Limited - India
- Heidelberg Cement - Germany
- South Luzon Thermal Energy Corporation
- Cigading International Bulk Terminal - Indonesia
- LBH Netherlands Bv - Netherlands
- Ministry of Transport, Egypt
- Thiess Contractors Indonesia
- Global Coal Blending Company Limited - Australia
- Holcim Trading Pte Ltd - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- SN Aboitiz Power Inc, Philippines
- Cement Manufacturers Association - India
- European Bulk Services B.V. - Netherlands
- Indian Energy Exchange, India
- Lanco Infratech Ltd - India
- SMC Global Power, Philippines
- Anglo American - United Kingdom
- Renaissance Capital - South Africa
- Aditya Birla Group - India
- Karbindo Abesyapradhi - Indoneisa
- Gujarat Mineral Development Corp Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Minerals Council of Australia
- ICICI Bank Limited - India
- Directorate Of Revenue Intelligence - India
- Billiton Holdings Pty Ltd - Australia
- Indika Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Videocon Industries ltd - India
- Central Electricity Authority - India
- PowerSource Philippines DevCo
- Baramulti Group, Indonesia
- Price Waterhouse Coopers - Russia
- Madhucon Powers Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Bhatia International Limited - India
- Port Waratah Coal Services - Australia
- VISA Power Limited - India
- International Coal Ventures Pvt Ltd - India
- Ministry of Finance - Indonesia
- Bharathi Cement Corporation - India
- Jindal Steel & Power Ltd - India
- Tata Chemicals Ltd - India
- Wilmar Investment Holdings
- Kumho Petrochemical, South Korea
- AsiaOL BioFuels Corp., Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Vizag Seaport Private Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Sindya Power Generating Company Private Ltd
- Mjunction Services Limited - India
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