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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, 29 May 13
SHIP OWNERS KEEP ON SPENDING ON NEWBUILDINGS AS PRICES ARE DEEMED TOO LOW TO RESIST - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
It's been yet another week on increased newbuilding ordering activity with Hellenic ship owners appearing rathe active, on the back of attractive f ...
Tuesday, 28 May 13
NEWCASTLE PORT SHIPPED 9.76 PERCENT MORE COAL W/E 27 MAY 2013
COALspot.com - Newcastle port in Australia has loaded 2,420,366 tons of coal for week ended 0700 hours 27 May 2013, Newcastle Port Corp. said ...
Sunday, 26 May 13
AMPLE SUPPLY, LOW DEMAND KEEP COAL PRICES UNDER PRESSURE
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for average July 2013 delivery have lost 0.07 percent and API 8 CFR South China Coal shipment los ...
Friday, 24 May 13
ENGAGEMENT WITH POTENTIAL STRATEGIC AND OFF TAKE PARTNERS ACCELERATING - REALM RESOURCES
COALspot.com - Following the recent completion of the Feasibility Study, the Realm Resources Ltd. (ASX: RRP) has focused on securing strategic ...
Friday, 24 May 13
US'S COAL PRODUCTION INCREASED WEEK ON WEEK
COALspot.com – United states the world’s second largest coal producer produced totaled approximately 18.90 million short tons (mmst) of ...
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- Global Business Power Corporation, Philippines
- Videocon Industries ltd - India
- Tamil Nadu electricity Board
- Savvy Resources Ltd - HongKong
- Ministry of Transport, Egypt
- Ceylon Electricity Board - Sri Lanka
- Bukit Makmur.PT - Indonesia
- Maheswari Brothers Coal Limited - India
- Sical Logistics Limited - India
- GN Power Mariveles Coal Plant, Philippines
- SMC Global Power, Philippines
- Cigading International Bulk Terminal - Indonesia
- Edison Trading Spa - Italy
- Vedanta Resources Plc - India
- Jindal Steel & Power Ltd - India
- Meralco Power Generation, Philippines
- Kumho Petrochemical, South Korea
- McConnell Dowell - Australia
- Binh Thuan Hamico - Vietnam
- Therma Luzon, Inc, Philippines
- GVK Power & Infra Limited - India
- PNOC Exploration Corporation - Philippines
- Deloitte Consulting - India
- Dalmia Cement Bharat India
- Holcim Trading Pte Ltd - Singapore
- Kartika Selabumi Mining - Indonesia
- Barasentosa Lestari - Indonesia
- Central Java Power - Indonesia
- Carbofer General Trading SA - India
- Price Waterhouse Coopers - Russia
- Parliament of New Zealand
- Global Coal Blending Company Limited - Australia
- Vizag Seaport Private Limited - India
- Bulk Trading Sa - Switzerland
- Medco Energi Mining Internasional
- Alfred C Toepfer International GmbH - Germany
- Aditya Birla Group - India
- Pipit Mutiara Jaya. PT, Indonesia
- ASAPP Information Group - India
- The University of Queensland
- Trasteel International SA, Italy
- Gujarat Mineral Development Corp Ltd - India
- ICICI Bank Limited - India
- Latin American Coal - Colombia
- Indogreen Group - Indonesia
- Kaltim Prima Coal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Oldendorff Carriers - Singapore
- Krishnapatnam Port Company Ltd. - India
- Rashtriya Ispat Nigam Limited - India
- Xindia Steels Limited - India
- International Coal Ventures Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Ind-Barath Power Infra Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Billiton Holdings Pty Ltd - Australia
- Borneo Indobara - Indonesia
- Thiess Contractors Indonesia
- Energy Link Ltd, New Zealand
- The State Trading Corporation of India Ltd
- Siam City Cement - Thailand
- Baramulti Group, Indonesia
- Power Finance Corporation Ltd., India
- San Jose City I Power Corp, Philippines
- Agrawal Coal Company - India
- Sakthi Sugars Limited - India
- India Bulls Power Limited - India
- Sojitz Corporation - Japan
- Merrill Lynch Commodities Europe
- Australian Commodity Traders Exchange
- Heidelberg Cement - Germany
- Wilmar Investment Holdings
- Intertek Mineral Services - Indonesia
- Renaissance Capital - South Africa
- PetroVietnam Power Coal Import and Supply Company
- Madhucon Powers Ltd - India
- Banpu Public Company Limited - Thailand
- The Treasury - Australian Government
- Pendopo Energi Batubara - Indonesia
- Wood Mackenzie - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Formosa Plastics Group - Taiwan
- Simpson Spence & Young - Indonesia
- Kideco Jaya Agung - Indonesia
- TeaM Sual Corporation - Philippines
- Meenaskhi Energy Private Limited - India
- Salva Resources Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Kobexindo Tractors - Indoneisa
- Orica Australia Pty. Ltd.
- Mjunction Services Limited - India
- CNBM International Corporation - China
- Interocean Group of Companies - India
- Makarim & Taira - Indonesia
- Indonesian Coal Mining Association
- Coal and Oil Company - UAE
- Indika Energy - Indonesia
- Bhatia International Limited - India
- Mintek Dendrill Indonesia
- Metalloyd Limited - United Kingdom
- Gujarat Sidhee Cement - India
- OPG Power Generation Pvt Ltd - India
- Altura Mining Limited, Indonesia
- White Energy Company Limited
- Uttam Galva Steels Limited - India
- AsiaOL BioFuels Corp., Philippines
- Ministry of Mines - Canada
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Star Paper Mills Limited - India
- GAC Shipping (India) Pvt Ltd
- Standard Chartered Bank - UAE
- Bharathi Cement Corporation - India
- Kohat Cement Company Ltd. - Pakistan
- Kalimantan Lumbung Energi - Indonesia
- Timah Investasi Mineral - Indoneisa
- Parry Sugars Refinery, India
- Electricity Generating Authority of Thailand
- Georgia Ports Authority, United States
- SN Aboitiz Power Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Independent Power Producers Association of India
- Semirara Mining and Power Corporation, Philippines
- Commonwealth Bank - Australia
- Mercuria Energy - Indonesia
- Indian Energy Exchange, India
- Africa Commodities Group - South Africa
- Globalindo Alam Lestari - Indonesia
- Bhoruka Overseas - Indonesia
- Sree Jayajothi Cements Limited - India
- Economic Council, Georgia
- MS Steel International - UAE
- Coastal Gujarat Power Limited - India
- Marubeni Corporation - India
- Central Electricity Authority - India
- Bayan Resources Tbk. - Indonesia
- PTC India Limited - India
- Sindya Power Generating Company Private Ltd
- Sarangani Energy Corporation, Philippines
- Siam City Cement PLC, Thailand
- Romanian Commodities Exchange
- Kepco SPC Power Corporation, Philippines
- Lanco Infratech Ltd - India
- Orica Mining Services - Indonesia
- Indian Oil Corporation Limited
- IHS Mccloskey Coal Group - USA
- Kapuas Tunggal Persada - Indonesia
- GMR Energy Limited - India
- South Luzon Thermal Energy Corporation
- Minerals Council of Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- SMG Consultants - Indonesia
- Thai Mozambique Logistica
- Bhushan Steel Limited - India
- Goldman Sachs - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Port Waratah Coal Services - Australia
- Antam Resourcindo - Indonesia
- Samtan Co., Ltd - South Korea
- Bangladesh Power Developement Board
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Energy Development Corp, Philippines
- Planning Commission, India
- CIMB Investment Bank - Malaysia
- Asmin Koalindo Tuhup - Indonesia
- Posco Energy - South Korea
- Karbindo Abesyapradhi - Indoneisa
- IEA Clean Coal Centre - UK
- Singapore Mercantile Exchange
- Ambuja Cements Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Riau Bara Harum - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Cement Manufacturers Association - India
- Vijayanagar Sugar Pvt Ltd - India
- New Zealand Coal & Carbon
- Rio Tinto Coal - Australia
- Sinarmas Energy and Mining - Indonesia
- Eastern Energy - Thailand
- Mercator Lines Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Petron Corporation, Philippines
- Anglo American - United Kingdom
- Jaiprakash Power Ventures ltd
- Chamber of Mines of South Africa
- Indo Tambangraya Megah - Indonesia
- VISA Power Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Chettinad Cement Corporation Ltd - India
- Electricity Authority, New Zealand
- Tata Chemicals Ltd - India
- Grasim Industreis Ltd - India
- Coalindo Energy - Indonesia
- Semirara Mining Corp, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Malabar Cements Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Baiduri Energy - Indonesia
- Ministry of Finance - Indonesia
- Attock Cement Pakistan Limited
- Straits Asia Resources Limited - Singapore
- Miang Besar Coal Terminal - Indonesia
- Toyota Tsusho Corporation, Japan
- Jorong Barutama Greston.PT - Indonesia
- LBH Netherlands Bv - Netherlands
- PowerSource Philippines DevCo
- Aboitiz Power Corporation - Philippines
- Australian Coal Association
- Directorate Of Revenue Intelligence - India
- Iligan Light & Power Inc, Philippines
- Larsen & Toubro Limited - India
- London Commodity Brokers - England
- Global Green Power PLC Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Eastern Coal Council - USA
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