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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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Friday, 29 March 13
SUB-BIT INDONESIA COAL SWAPS: UP 0.55 % WOW; CFR SOUTH CHINA COAL CONTRACT: UP 0.23 % WOW
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for average Q2’ 2013 delivery has gained 0.55 percent and CFR South China coal shipment&nbs ...
Thursday, 28 March 13
SHIP OWNERS KEEN ON ACQUIRING SECOND HAND TONNAGE, AS WELL AS NEW BUILDINGS IN CONVENTIONAL SEGMENTS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The recent rally of the Baltic Dry Index (BDI), coupled with renewed optimism, at least in some parts of the wet market, have prompted many ship own ...
Wednesday, 27 March 13
PTBA HAS CONCLUDED US$ 16.14 BILLION WORTH OF COAL SALES AND PURCHASE AGREEMENT WITH PLN
COALspot.com - PT. Bukit Asam, a 32 years old Indonesian state owned coal miner has signed a coal sales and purchase agreement with PT PLN, (a state ...
Wednesday, 27 March 13
SHIPPING CONFIDENCE REACHES HIGHEST LEVEL FOR TWO YEARS - MOORE STEPHENS
Overall confidence levels in the shipping industry recovered to their highest level for two years in the three months ended February 2013, according ...
Tuesday, 26 March 13
NEWCASTLE PORT SHIPPED 2.39 MMT OF COAL W/E 25 MARCH 2013
COALspot.com - Newcastle port in Australia has loaded 2.396 million tons of thermal and coking coal for week ended 0700 hours 25 March 2013, N ...
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- Ceylon Electricity Board - Sri Lanka
- Makarim & Taira - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Ambuja Cements Ltd - India
- Romanian Commodities Exchange
- Siam City Cement - Thailand
- Singapore Mercantile Exchange
- Tata Chemicals Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Africa Commodities Group - South Africa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indian Energy Exchange, India
- Anglo American - United Kingdom
- Posco Energy - South Korea
- Directorate Of Revenue Intelligence - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Therma Luzon, Inc, Philippines
- Commonwealth Bank - Australia
- Antam Resourcindo - Indonesia
- Coastal Gujarat Power Limited - India
- Thai Mozambique Logistica
- Sarangani Energy Corporation, Philippines
- Orica Australia Pty. Ltd.
- Global Coal Blending Company Limited - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Simpson Spence & Young - Indonesia
- CNBM International Corporation - China
- Marubeni Corporation - India
- GMR Energy Limited - India
- Iligan Light & Power Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Chamber of Mines of South Africa
- Cigading International Bulk Terminal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Lanco Infratech Ltd - India
- LBH Netherlands Bv - Netherlands
- Kumho Petrochemical, South Korea
- Medco Energi Mining Internasional
- Kideco Jaya Agung - Indonesia
- McConnell Dowell - Australia
- Electricity Generating Authority of Thailand
- GAC Shipping (India) Pvt Ltd
- Barasentosa Lestari - Indonesia
- Attock Cement Pakistan Limited
- Petron Corporation, Philippines
- Uttam Galva Steels Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Madhucon Powers Ltd - India
- Cement Manufacturers Association - India
- Kaltim Prima Coal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- OPG Power Generation Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Holcim Trading Pte Ltd - Singapore
- Orica Mining Services - Indonesia
- Kobexindo Tractors - Indoneisa
- India Bulls Power Limited - India
- Kepco SPC Power Corporation, Philippines
- SMG Consultants - Indonesia
- Energy Link Ltd, New Zealand
- Indo Tambangraya Megah - Indonesia
- Planning Commission, India
- Georgia Ports Authority, United States
- Bhushan Steel Limited - India
- Wood Mackenzie - Singapore
- Intertek Mineral Services - Indonesia
- Deloitte Consulting - India
- Meralco Power Generation, Philippines
- Bangladesh Power Developement Board
- Star Paper Mills Limited - India
- Ministry of Transport, Egypt
- Manunggal Multi Energi - Indonesia
- Indian Oil Corporation Limited
- PNOC Exploration Corporation - Philippines
- The State Trading Corporation of India Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Siam City Cement PLC, Thailand
- Standard Chartered Bank - UAE
- Trasteel International SA, Italy
- TNB Fuel Sdn Bhd - Malaysia
- Sakthi Sugars Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Meenaskhi Energy Private Limited - India
- Borneo Indobara - Indonesia
- Baramulti Group, Indonesia
- Maheswari Brothers Coal Limited - India
- IEA Clean Coal Centre - UK
- London Commodity Brokers - England
- Coalindo Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Global Business Power Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Mercuria Energy - Indonesia
- Merrill Lynch Commodities Europe
- Central Java Power - Indonesia
- Bukit Makmur.PT - Indonesia
- Renaissance Capital - South Africa
- Sical Logistics Limited - India
- Sindya Power Generating Company Private Ltd
- Samtan Co., Ltd - South Korea
- The Treasury - Australian Government
- Eastern Energy - Thailand
- Economic Council, Georgia
- Interocean Group of Companies - India
- SMC Global Power, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Timah Investasi Mineral - Indoneisa
- Pipit Mutiara Jaya. PT, Indonesia
- Rashtriya Ispat Nigam Limited - India
- Salva Resources Pvt Ltd - India
- The University of Queensland
- Ind-Barath Power Infra Limited - India
- Alfred C Toepfer International GmbH - Germany
- Essar Steel Hazira Ltd - India
- International Coal Ventures Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Sree Jayajothi Cements Limited - India
- Aditya Birla Group - India
- GN Power Mariveles Coal Plant, Philippines
- Ministry of Mines - Canada
- MS Steel International - UAE
- Sinarmas Energy and Mining - Indonesia
- Mintek Dendrill Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Mercator Lines Limited - India
- European Bulk Services B.V. - Netherlands
- Grasim Industreis Ltd - India
- Indogreen Group - Indonesia
- Bhatia International Limited - India
- White Energy Company Limited
- Asia Pacific Energy Resources Ventures Inc, Philippines
- New Zealand Coal & Carbon
- ICICI Bank Limited - India
- Bhoruka Overseas - Indonesia
- Vizag Seaport Private Limited - India
- Edison Trading Spa - Italy
- Australian Coal Association
- Semirara Mining and Power Corporation, Philippines
- Xindia Steels Limited - India
- Australian Commodity Traders Exchange
- Riau Bara Harum - Indonesia
- Agrawal Coal Company - India
- Kalimantan Lumbung Energi - Indonesia
- PowerSource Philippines DevCo
- Indonesian Coal Mining Association
- Altura Mining Limited, Indonesia
- Karaikal Port Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Dalmia Cement Bharat India
- Jaiprakash Power Ventures ltd
- Thiess Contractors Indonesia
- VISA Power Limited - India
- Price Waterhouse Coopers - Russia
- Vedanta Resources Plc - India
- Larsen & Toubro Limited - India
- Mjunction Services Limited - India
- PTC India Limited - India
- Minerals Council of Australia
- Goldman Sachs - Singapore
- ASAPP Information Group - India
- Coal and Oil Company - UAE
- Power Finance Corporation Ltd., India
- Central Electricity Authority - India
- AsiaOL BioFuels Corp., Philippines
- Gujarat Mineral Development Corp Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- GVK Power & Infra Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- San Jose City I Power Corp, Philippines
- Electricity Authority, New Zealand
- IHS Mccloskey Coal Group - USA
- Metalloyd Limited - United Kingdom
- Binh Thuan Hamico - Vietnam
- Bharathi Cement Corporation - India
- Energy Development Corp, Philippines
- Rio Tinto Coal - Australia
- Sojitz Corporation - Japan
- Wilmar Investment Holdings
- Malabar Cements Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Tamil Nadu electricity Board
- Miang Besar Coal Terminal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Semirara Mining Corp, Philippines
- Carbofer General Trading SA - India
- CIMB Investment Bank - Malaysia
- Global Green Power PLC Corporation, Philippines
- Eastern Coal Council - USA
- PetroVietnam Power Coal Import and Supply Company
- Latin American Coal - Colombia
- Heidelberg Cement - Germany
- Bayan Resources Tbk. - Indonesia
- Port Waratah Coal Services - Australia
- Independent Power Producers Association of India
- Aboitiz Power Corporation - Philippines
- Chettinad Cement Corporation Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Gujarat Sidhee Cement - India
- Bulk Trading Sa - Switzerland
- Ministry of Finance - Indonesia
- Parliament of New Zealand
- Kartika Selabumi Mining - Indonesia
- Videocon Industries ltd - India
- Indika Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Oldendorff Carriers - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Formosa Plastics Group - Taiwan
- Parry Sugars Refinery, India
- Bukit Baiduri Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Billiton Holdings Pty Ltd - Australia
- TeaM Sual Corporation - Philippines
- South Luzon Thermal Energy Corporation
- Jindal Steel & Power Ltd - India
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