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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, 10 April 13
US COAL CONSUMPTION TO INCREASE FROM 889 MMST IN 2012 TO 948 MMST IN 2013 AND 957 MMST IN 2014 - EIA
Based on estimates for the first quarter of 2013, American coal production has continued to decline.
Total production is down 9.9 million short t ...
Wednesday, 10 April 13
DRY BULK FREIGHT RATES SEEN MOSTLY STABLE IN THE COMING WEEKS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS WORLDWIDE
In its latest report, BIMCO forecast that for the coming six weeks, Capesize time charter average rates will remain subdued around $4,500-8,500 per ...
Monday, 08 April 13
SUB-BIT INDONESIA COAL SWAPS: UPWARD TREND
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for average Q2’ 2013 delivery has gained 2.71 percent and CFR South China coal shipment&nbs ...
Sunday, 07 April 13
CHARTER RATES ARE UNDER PRESSURE DUE TO DECLINING DEMAND - VISTAAR
COALspot.com - The freight market continued to fall further with all the indices down.
The BDI was down by 5.38 pct closing at 861 points and the ...
Friday, 05 April 13
SGX API 8 CFR SOUTH CHINA COAL SWAPS TO GO LIVE
COALspot.com - The Exchange has announced that the SGX API 8 CFR South China Coal Swap will go live for clearing on SGX-DC starting from 29 Ap ...
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- Neyveli Lignite Corporation Ltd, - India
- Port Waratah Coal Services - Australia
- Kobexindo Tractors - Indoneisa
- CNBM International Corporation - China
- Bukit Makmur.PT - Indonesia
- Ministry of Transport, Egypt
- New Zealand Coal & Carbon
- Borneo Indobara - Indonesia
- MS Steel International - UAE
- Central Electricity Authority - India
- Samtan Co., Ltd - South Korea
- Ministry of Mines - Canada
- Bank of Tokyo Mitsubishi UFJ Ltd
- Grasim Industreis Ltd - India
- Manunggal Multi Energi - Indonesia
- Trasteel International SA, Italy
- Straits Asia Resources Limited - Singapore
- Aboitiz Power Corporation - Philippines
- Latin American Coal - Colombia
- ICICI Bank Limited - India
- White Energy Company Limited
- Bangladesh Power Developement Board
- Videocon Industries ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- The Treasury - Australian Government
- Global Coal Blending Company Limited - Australia
- Timah Investasi Mineral - Indoneisa
- Chamber of Mines of South Africa
- Lanco Infratech Ltd - India
- Orica Mining Services - Indonesia
- Goldman Sachs - Singapore
- Metalloyd Limited - United Kingdom
- TeaM Sual Corporation - Philippines
- SMG Consultants - Indonesia
- OPG Power Generation Pvt Ltd - India
- Xindia Steels Limited - India
- Anglo American - United Kingdom
- Deloitte Consulting - India
- Sinarmas Energy and Mining - Indonesia
- Sindya Power Generating Company Private Ltd
- Sical Logistics Limited - India
- Indika Energy - Indonesia
- Australian Commodity Traders Exchange
- Binh Thuan Hamico - Vietnam
- SMC Global Power, Philippines
- Petron Corporation, Philippines
- McConnell Dowell - Australia
- Energy Link Ltd, New Zealand
- International Coal Ventures Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- South Luzon Thermal Energy Corporation
- Globalindo Alam Lestari - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Maheswari Brothers Coal Limited - India
- Meralco Power Generation, Philippines
- Bayan Resources Tbk. - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Indogreen Group - Indonesia
- Mercuria Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Cement Manufacturers Association - India
- IHS Mccloskey Coal Group - USA
- Economic Council, Georgia
- Karaikal Port Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Jaiprakash Power Ventures ltd
- Essar Steel Hazira Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Semirara Mining Corp, Philippines
- Ambuja Cements Ltd - India
- Orica Australia Pty. Ltd.
- Renaissance Capital - South Africa
- Wood Mackenzie - Singapore
- ASAPP Information Group - India
- Altura Mining Limited, Indonesia
- VISA Power Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Kartika Selabumi Mining - Indonesia
- Vizag Seaport Private Limited - India
- Coastal Gujarat Power Limited - India
- Mjunction Services Limited - India
- CIMB Investment Bank - Malaysia
- Independent Power Producers Association of India
- Attock Cement Pakistan Limited
- GMR Energy Limited - India
- Indian Oil Corporation Limited
- The State Trading Corporation of India Ltd
- Holcim Trading Pte Ltd - Singapore
- Sarangani Energy Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Vedanta Resources Plc - India
- Directorate Of Revenue Intelligence - India
- Sakthi Sugars Limited - India
- Bukit Baiduri Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Thai Mozambique Logistica
- Baramulti Group, Indonesia
- Bhoruka Overseas - Indonesia
- Bhatia International Limited - India
- Savvy Resources Ltd - HongKong
- Billiton Holdings Pty Ltd - Australia
- Thiess Contractors Indonesia
- Global Business Power Corporation, Philippines
- Georgia Ports Authority, United States
- Electricity Generating Authority of Thailand
- Kalimantan Lumbung Energi - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Intertek Mineral Services - Indonesia
- Rio Tinto Coal - Australia
- Edison Trading Spa - Italy
- Ind-Barath Power Infra Limited - India
- Salva Resources Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Iligan Light & Power Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Indo Tambangraya Megah - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indonesian Coal Mining Association
- Interocean Group of Companies - India
- Larsen & Toubro Limited - India
- London Commodity Brokers - England
- Standard Chartered Bank - UAE
- PowerSource Philippines DevCo
- Vijayanagar Sugar Pvt Ltd - India
- Malabar Cements Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Madhucon Powers Ltd - India
- Bharathi Cement Corporation - India
- Sojitz Corporation - Japan
- Merrill Lynch Commodities Europe
- Wilmar Investment Holdings
- Tamil Nadu electricity Board
- Bulk Trading Sa - Switzerland
- India Bulls Power Limited - India
- Ministry of Finance - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Africa Commodities Group - South Africa
- Singapore Mercantile Exchange
- Semirara Mining and Power Corporation, Philippines
- Uttam Galva Steels Limited - India
- Leighton Contractors Pty Ltd - Australia
- The University of Queensland
- Posco Energy - South Korea
- Electricity Authority, New Zealand
- Parliament of New Zealand
- Riau Bara Harum - Indonesia
- Mintek Dendrill Indonesia
- Central Java Power - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Minerals Council of Australia
- Romanian Commodities Exchange
- IEA Clean Coal Centre - UK
- Ceylon Electricity Board - Sri Lanka
- GVK Power & Infra Limited - India
- Medco Energi Mining Internasional
- Australian Coal Association
- Kapuas Tunggal Persada - Indonesia
- Simpson Spence & Young - Indonesia
- Price Waterhouse Coopers - Russia
- Siam City Cement - Thailand
- Indian Energy Exchange, India
- SN Aboitiz Power Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Planning Commission, India
- Barasentosa Lestari - Indonesia
- Aditya Birla Group - India
- Meenaskhi Energy Private Limited - India
- Eastern Coal Council - USA
- Marubeni Corporation - India
- Chettinad Cement Corporation Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Heidelberg Cement - Germany
- Kaltim Prima Coal - Indonesia
- Tata Chemicals Ltd - India
- Agrawal Coal Company - India
- Jindal Steel & Power Ltd - India
- Carbofer General Trading SA - India
- Kumho Petrochemical, South Korea
- PTC India Limited - India
- Makarim & Taira - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Power Finance Corporation Ltd., India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Oldendorff Carriers - Singapore
- Kepco SPC Power Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Coalindo Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Energy Development Corp, Philippines
- Bhushan Steel Limited - India
- Commonwealth Bank - Australia
- Mercator Lines Limited - India
- Banpu Public Company Limited - Thailand
- Dalmia Cement Bharat India
- Gujarat Sidhee Cement - India
- Bahari Cakrawala Sebuku - Indonesia
- Siam City Cement PLC, Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Antam Resourcindo - Indonesia
- Parry Sugars Refinery, India
- Jorong Barutama Greston.PT - Indonesia
- Formosa Plastics Group - Taiwan
- Kideco Jaya Agung - Indonesia
- Sree Jayajothi Cements Limited - India
- GAC Shipping (India) Pvt Ltd
- Star Paper Mills Limited - India
- Coal and Oil Company - UAE
- Pipit Mutiara Jaya. PT, Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Cigading International Bulk Terminal - Indonesia
- Toyota Tsusho Corporation, Japan
- Eastern Energy - Thailand
- Therma Luzon, Inc, Philippines
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