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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, 04 April 13
HANDY:QUIET ; PANAMAX: SLOW START; CAPESIZE: LOW ACTIVITIES - FEARNRESEARCH
Handy
The Atlantic markets remain quiet as charterers and owners waiting to see how it moves. The USG-Feast was at USD 20k and Black Sea-Feast was ...
Wednesday, 03 April 13
HBA HAS LOST US$ 1.53 PER MT IN APRIL 2013
COALspot.com - The Indonesian government’s declared coal bench mark price has lost $1.53 / MT in April 2013.
The monthly coal referen ...
Tuesday, 02 April 13
AUSTRALIA'S NEWCASTLE PORT SHIPPED 633K MT MORE COAL W-O-W
COALspot.com - Newcastle port in Australia has loaded 3,029,482 tons of thermal and coking coal for week ended 0700 hours 1 April 2013, Newcas ...
Tuesday, 02 April 13
THE GOVERNORS TO TAKE OVER AUTHORITY OF MINING, FORESTRY AND PLANTATION CONCESSIONS
The Indonesian government is planning to transfer the authority of issuing mining, forestry and plantation concessions from municipalities and distr ...
Sunday, 31 March 13
COAL FREIGHTS ARE IN FLAT TO WEAK TREND - VISTAAR
COALspot.com - This freight market after several weeks of firming up seemed to lose steam and this week all the indices were down except for handy s ...
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- South Luzon Thermal Energy Corporation
- London Commodity Brokers - England
- Mjunction Services Limited - India
- Edison Trading Spa - Italy
- Jorong Barutama Greston.PT - Indonesia
- Indian Energy Exchange, India
- TNB Fuel Sdn Bhd - Malaysia
- Borneo Indobara - Indonesia
- Global Green Power PLC Corporation, Philippines
- Eastern Energy - Thailand
- Central Electricity Authority - India
- Indian Oil Corporation Limited
- Holcim Trading Pte Ltd - Singapore
- Lanco Infratech Ltd - India
- Sojitz Corporation - Japan
- Rio Tinto Coal - Australia
- Meenaskhi Energy Private Limited - India
- IHS Mccloskey Coal Group - USA
- Vizag Seaport Private Limited - India
- Timah Investasi Mineral - Indoneisa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Star Paper Mills Limited - India
- Meralco Power Generation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Sical Logistics Limited - India
- CIMB Investment Bank - Malaysia
- Kartika Selabumi Mining - Indonesia
- Semirara Mining Corp, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Chettinad Cement Corporation Ltd - India
- Goldman Sachs - Singapore
- New Zealand Coal & Carbon
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bahari Cakrawala Sebuku - Indonesia
- Bhushan Steel Limited - India
- Maheswari Brothers Coal Limited - India
- Ceylon Electricity Board - Sri Lanka
- Indo Tambangraya Megah - Indonesia
- Tata Chemicals Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Sakthi Sugars Limited - India
- Electricity Authority, New Zealand
- Riau Bara Harum - Indonesia
- Sree Jayajothi Cements Limited - India
- Salva Resources Pvt Ltd - India
- Interocean Group of Companies - India
- Kaltim Prima Coal - Indonesia
- Global Coal Blending Company Limited - Australia
- Karaikal Port Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Ministry of Transport, Egypt
- Altura Mining Limited, Indonesia
- OPG Power Generation Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Attock Cement Pakistan Limited
- Krishnapatnam Port Company Ltd. - India
- Uttam Galva Steels Limited - India
- Standard Chartered Bank - UAE
- Antam Resourcindo - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- GAC Shipping (India) Pvt Ltd
- Georgia Ports Authority, United States
- Barasentosa Lestari - Indonesia
- Indogreen Group - Indonesia
- Africa Commodities Group - South Africa
- VISA Power Limited - India
- Power Finance Corporation Ltd., India
- Singapore Mercantile Exchange
- Cigading International Bulk Terminal - Indonesia
- Kideco Jaya Agung - Indonesia
- Parry Sugars Refinery, India
- Siam City Cement - Thailand
- Ministry of Finance - Indonesia
- Planning Commission, India
- SMG Consultants - Indonesia
- Australian Coal Association
- Mintek Dendrill Indonesia
- Economic Council, Georgia
- Directorate General of MIneral and Coal - Indonesia
- Petron Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- India Bulls Power Limited - India
- The University of Queensland
- Electricity Generating Authority of Thailand
- White Energy Company Limited
- Gujarat Electricity Regulatory Commission - India
- Australian Commodity Traders Exchange
- Billiton Holdings Pty Ltd - Australia
- Iligan Light & Power Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Aboitiz Power Corporation - Philippines
- Binh Thuan Hamico - Vietnam
- McConnell Dowell - Australia
- Thai Mozambique Logistica
- Maharashtra Electricity Regulatory Commission - India
- Makarim & Taira - Indonesia
- Intertek Mineral Services - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- MS Steel International - UAE
- Videocon Industries ltd - India
- Rashtriya Ispat Nigam Limited - India
- ASAPP Information Group - India
- Energy Development Corp, Philippines
- GVK Power & Infra Limited - India
- Orica Australia Pty. Ltd.
- Chamber of Mines of South Africa
- Agrawal Coal Company - India
- Bukit Makmur.PT - Indonesia
- Romanian Commodities Exchange
- Toyota Tsusho Corporation, Japan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bhatia International Limited - India
- Simpson Spence & Young - Indonesia
- Anglo American - United Kingdom
- Ambuja Cements Ltd - India
- Mercuria Energy - Indonesia
- Global Business Power Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Banpu Public Company Limited - Thailand
- Leighton Contractors Pty Ltd - Australia
- Manunggal Multi Energi - Indonesia
- Posco Energy - South Korea
- IEA Clean Coal Centre - UK
- Bharathi Cement Corporation - India
- LBH Netherlands Bv - Netherlands
- Karbindo Abesyapradhi - Indoneisa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Bangladesh Power Developement Board
- Kepco SPC Power Corporation, Philippines
- The Treasury - Australian Government
- European Bulk Services B.V. - Netherlands
- Deloitte Consulting - India
- Coalindo Energy - Indonesia
- Ministry of Mines - Canada
- Savvy Resources Ltd - HongKong
- Gujarat Mineral Development Corp Ltd - India
- Commonwealth Bank - Australia
- Asmin Koalindo Tuhup - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Parliament of New Zealand
- Aditya Birla Group - India
- Wood Mackenzie - Singapore
- Malabar Cements Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Vedanta Resources Plc - India
- Independent Power Producers Association of India
- Renaissance Capital - South Africa
- Indonesian Coal Mining Association
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Merrill Lynch Commodities Europe
- Central Java Power - Indonesia
- PTC India Limited - India
- SN Aboitiz Power Inc, Philippines
- Madhucon Powers Ltd - India
- San Jose City I Power Corp, Philippines
- Minerals Council of Australia
- Dalmia Cement Bharat India
- Miang Besar Coal Terminal - Indonesia
- Eastern Coal Council - USA
- Bayan Resources Tbk. - Indonesia
- Carbofer General Trading SA - India
- Heidelberg Cement - Germany
- SMC Global Power, Philippines
- Directorate Of Revenue Intelligence - India
- CNBM International Corporation - China
- Siam City Cement PLC, Thailand
- Larsen & Toubro Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Metalloyd Limited - United Kingdom
- Thiess Contractors Indonesia
- Bukit Baiduri Energy - Indonesia
- Port Waratah Coal Services - Australia
- Coal and Oil Company - UAE
- Medco Energi Mining Internasional
- Bulk Trading Sa - Switzerland
- Kumho Petrochemical, South Korea
- Pendopo Energi Batubara - Indonesia
- Formosa Plastics Group - Taiwan
- PetroVietnam Power Coal Import and Supply Company
- Cement Manufacturers Association - India
- ICICI Bank Limited - India
- Jaiprakash Power Ventures ltd
- Kobexindo Tractors - Indoneisa
- PowerSource Philippines DevCo
- Marubeni Corporation - India
- Coastal Gujarat Power Limited - India
- GMR Energy Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Baramulti Group, Indonesia
- Wilmar Investment Holdings
- International Coal Ventures Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Orica Mining Services - Indonesia
- The State Trading Corporation of India Ltd
- Essar Steel Hazira Ltd - India
- Latin American Coal - Colombia
- TeaM Sual Corporation - Philippines
- Xindia Steels Limited - India
- Tamil Nadu electricity Board
- Bhoruka Overseas - Indonesia
- Sindya Power Generating Company Private Ltd
- Trasteel International SA, Italy
- PNOC Exploration Corporation - Philippines
- Sarangani Energy Corporation, Philippines
- Indika Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Energy Link Ltd, New Zealand
- Gujarat Sidhee Cement - India
- Mercator Lines Limited - India
- Grasim Industreis Ltd - India
- Samtan Co., Ltd - South Korea
- Price Waterhouse Coopers - Russia
- Bukit Asam (Persero) Tbk - Indonesia
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