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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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Monday, 25 March 13
BUNKER FUELS ARE ABOUT TO GET CLEANER, BUT AT WHAT COST? - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The cost of bunkers is nowadays the driving force behind most ship owners' major decisions, with regulations bound to change in many parts of the w ...
Sunday, 24 March 13
THE SUB-BIT INDONESIA'S COAL SWAPS FOR Q2 DELIVERY PRICE LOST 7.47 PERCENT PMT M-O-M
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for average Q2’ 2013 delivery has lost 3.39 percent and CFR South China coal shipment 2.65 ...
Sunday, 24 March 13
FREIGHT MARKETS CONTINUED TO FIRM - VISTAAR
COALspot.com - This freight market continued to remain firm in all segments except for cape index which softened slightly.
The BDI was up by 4.60 ...
Sunday, 24 March 13
DRY BULK MARKET PROSPECTS OFFER ROOM FOR RESTRAINED OPTIMISM SAYS SHIP OWNER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
In its announcement regarding its annual performance, ship owner Frontline offered some useful insight on the future prospects of both the dry bulk ...
Saturday, 23 March 13
WORLD COAL TRADE FIRST PASSES 1 BILLION TONS IN 2012 - VEREIN DER KOHLENIMPORTEURE E.V
Press Release: Hard coal imports to Germany on the previous year's level in spite of regenerative energies. Imports for power plants at an all-time ...
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- Iligan Light & Power Inc, Philippines
- White Energy Company Limited
- Deloitte Consulting - India
- Planning Commission, India
- Manunggal Multi Energi - Indonesia
- Agrawal Coal Company - India
- Indonesian Coal Mining Association
- Orica Australia Pty. Ltd.
- Maharashtra Electricity Regulatory Commission - India
- Indogreen Group - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Grasim Industreis Ltd - India
- PowerSource Philippines DevCo
- SN Aboitiz Power Inc, Philippines
- Electricity Generating Authority of Thailand
- Vedanta Resources Plc - India
- Ministry of Finance - Indonesia
- Formosa Plastics Group - Taiwan
- Petron Corporation, Philippines
- Africa Commodities Group - South Africa
- McConnell Dowell - Australia
- Dalmia Cement Bharat India
- Makarim & Taira - Indonesia
- Ministry of Mines - Canada
- Tamil Nadu electricity Board
- Sarangani Energy Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Sinarmas Energy and Mining - Indonesia
- Star Paper Mills Limited - India
- Savvy Resources Ltd - HongKong
- Standard Chartered Bank - UAE
- The State Trading Corporation of India Ltd
- Port Waratah Coal Services - Australia
- Kapuas Tunggal Persada - Indonesia
- Vizag Seaport Private Limited - India
- Aditya Birla Group - India
- Bukit Makmur.PT - Indonesia
- VISA Power Limited - India
- International Coal Ventures Pvt Ltd - India
- Rio Tinto Coal - Australia
- Kohat Cement Company Ltd. - Pakistan
- Georgia Ports Authority, United States
- Asmin Koalindo Tuhup - Indonesia
- Indian Oil Corporation Limited
- ICICI Bank Limited - India
- Semirara Mining and Power Corporation, Philippines
- Coal and Oil Company - UAE
- SMG Consultants - Indonesia
- Goldman Sachs - Singapore
- Posco Energy - South Korea
- Karbindo Abesyapradhi - Indoneisa
- Jaiprakash Power Ventures ltd
- New Zealand Coal & Carbon
- Videocon Industries ltd - India
- South Luzon Thermal Energy Corporation
- Vijayanagar Sugar Pvt Ltd - India
- Borneo Indobara - Indonesia
- Sree Jayajothi Cements Limited - India
- Global Business Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- Mintek Dendrill Indonesia
- Straits Asia Resources Limited - Singapore
- Energy Development Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- Kaltim Prima Coal - Indonesia
- Central Java Power - Indonesia
- Ministry of Transport, Egypt
- Carbofer General Trading SA - India
- Gujarat Sidhee Cement - India
- London Commodity Brokers - England
- Jorong Barutama Greston.PT - Indonesia
- Semirara Mining Corp, Philippines
- The Treasury - Australian Government
- LBH Netherlands Bv - Netherlands
- Bank of Tokyo Mitsubishi UFJ Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indian Energy Exchange, India
- Cigading International Bulk Terminal - Indonesia
- Uttam Galva Steels Limited - India
- Tata Chemicals Ltd - India
- India Bulls Power Limited - India
- Kideco Jaya Agung - Indonesia
- Commonwealth Bank - Australia
- Directorate General of MIneral and Coal - Indonesia
- European Bulk Services B.V. - Netherlands
- GAC Shipping (India) Pvt Ltd
- Jindal Steel & Power Ltd - India
- SMC Global Power, Philippines
- Meralco Power Generation, Philippines
- Power Finance Corporation Ltd., India
- Offshore Bulk Terminal Pte Ltd, Singapore
- IHS Mccloskey Coal Group - USA
- Bhushan Steel Limited - India
- Sical Logistics Limited - India
- Siam City Cement - Thailand
- Salva Resources Pvt Ltd - India
- Wood Mackenzie - Singapore
- Meenaskhi Energy Private Limited - India
- Renaissance Capital - South Africa
- Central Electricity Authority - India
- Price Waterhouse Coopers - Russia
- Kumho Petrochemical, South Korea
- Gujarat Mineral Development Corp Ltd - India
- Kartika Selabumi Mining - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Trasteel International SA, Italy
- Coastal Gujarat Power Limited - India
- Sakthi Sugars Limited - India
- Malabar Cements Ltd - India
- San Jose City I Power Corp, Philippines
- Altura Mining Limited, Indonesia
- GVK Power & Infra Limited - India
- Indika Energy - Indonesia
- Mercuria Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Thai Mozambique Logistica
- Billiton Holdings Pty Ltd - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Sojitz Corporation - Japan
- Edison Trading Spa - Italy
- Gujarat Electricity Regulatory Commission - India
- Bhatia International Limited - India
- Interocean Group of Companies - India
- Minerals Council of Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mjunction Services Limited - India
- MS Steel International - UAE
- Bhoruka Overseas - Indonesia
- GMR Energy Limited - India
- Thiess Contractors Indonesia
- PetroVietnam Power Coal Import and Supply Company
- GN Power Mariveles Coal Plant, Philippines
- Heidelberg Cement - Germany
- CNBM International Corporation - China
- Australian Commodity Traders Exchange
- Metalloyd Limited - United Kingdom
- Baramulti Group, Indonesia
- Alfred C Toepfer International GmbH - Germany
- Aboitiz Power Corporation - Philippines
- Rashtriya Ispat Nigam Limited - India
- Larsen & Toubro Limited - India
- Lanco Infratech Ltd - India
- Wilmar Investment Holdings
- Merrill Lynch Commodities Europe
- Marubeni Corporation - India
- Singapore Mercantile Exchange
- Timah Investasi Mineral - Indoneisa
- Oldendorff Carriers - Singapore
- Medco Energi Mining Internasional
- Romanian Commodities Exchange
- The University of Queensland
- Parliament of New Zealand
- Ambuja Cements Ltd - India
- Maheswari Brothers Coal Limited - India
- Chettinad Cement Corporation Ltd - India
- Australian Coal Association
- Directorate Of Revenue Intelligence - India
- Essar Steel Hazira Ltd - India
- Mercator Lines Limited - India
- Madhucon Powers Ltd - India
- Ind-Barath Power Infra Limited - India
- Kobexindo Tractors - Indoneisa
- Eastern Coal Council - USA
- Miang Besar Coal Terminal - Indonesia
- Economic Council, Georgia
- Krishnapatnam Port Company Ltd. - India
- Bahari Cakrawala Sebuku - Indonesia
- ASAPP Information Group - India
- IEA Clean Coal Centre - UK
- Coalindo Energy - Indonesia
- Latin American Coal - Colombia
- Therma Luzon, Inc, Philippines
- TeaM Sual Corporation - Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Petrochimia International Co. Ltd.- Taiwan
- Bharathi Cement Corporation - India
- Bulk Trading Sa - Switzerland
- Chamber of Mines of South Africa
- Indo Tambangraya Megah - Indonesia
- OPG Power Generation Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Banpu Public Company Limited - Thailand
- CIMB Investment Bank - Malaysia
- Global Green Power PLC Corporation, Philippines
- Xindia Steels Limited - India
- Electricity Authority, New Zealand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Pendopo Energi Batubara - Indonesia
- Attock Cement Pakistan Limited
- Holcim Trading Pte Ltd - Singapore
- Siam City Cement PLC, Thailand
- Bangladesh Power Developement Board
- Barasentosa Lestari - Indonesia
- Intertek Mineral Services - Indonesia
- Kepco SPC Power Corporation, Philippines
- PTC India Limited - India
- Leighton Contractors Pty Ltd - Australia
- Cement Manufacturers Association - India
- Bukit Baiduri Energy - Indonesia
- Orica Mining Services - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Toyota Tsusho Corporation, Japan
- Simpson Spence & Young - Indonesia
- Samtan Co., Ltd - South Korea
- Energy Link Ltd, New Zealand
- Globalindo Alam Lestari - Indonesia
- Binh Thuan Hamico - Vietnam
- Bayan Resources Tbk. - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Sindya Power Generating Company Private Ltd
- Global Coal Blending Company Limited - Australia
- Independent Power Producers Association of India
- Eastern Energy - Thailand
- Anglo American - United Kingdom
- Parry Sugars Refinery, India
- Karaikal Port Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
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