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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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Sunday, 17 March 13
A WEAK WEEK FOR SUB-BIT INDONESIA COAL SWAPS
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for average Q2’ 2013 delivery has lost 2.11 percent and CFR South China coal shipment ...
Sunday, 17 March 13
COAL FREIGHT RATES STEADY ON HIGHER DEMAND - CAPT. REDDY
COALspot.com - This freight market continued to remain firm in all segments.
The BDI was up by 5.81 pct closing at 892 points. Cape index was up ...
Friday, 15 March 13
CHEAP SHIP VALUATIONS DON'T NECESSARILY MEAN ATTRACTIVE SAYS VESSELS VALUE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
With ship prices plunging by double-digits in the past few years, many ship owners are pondering their next moves in a market often described as att ...
Thursday, 14 March 13
SUPRAMAX : INDO - INDIA TRIP RATE IS AROUND $10,000; SOUTH CHINA $9500 - FEARNRESEARCH
Handy
Indian market is still quiet in respect of export of iron ore. WC India market has improved with a few stems out of the MEG, WC India opening ...
Thursday, 14 March 13
DRY BULK MARKET KEEPS ON RISING MOMENTUM - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market has maintained its rising momentum, on the back of increased cargo availability. According to yesterday's figures, the industry ...
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- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Star Paper Mills Limited - India
- LBH Netherlands Bv - Netherlands
- Videocon Industries ltd - India
- Larsen & Toubro Limited - India
- PTC India Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Madhucon Powers Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Lanco Infratech Ltd - India
- White Energy Company Limited
- Mjunction Services Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Vedanta Resources Plc - India
- Bukit Baiduri Energy - Indonesia
- Latin American Coal - Colombia
- Krishnapatnam Port Company Ltd. - India
- Petrochimia International Co. Ltd.- Taiwan
- Independent Power Producers Association of India
- Indo Tambangraya Megah - Indonesia
- Bhatia International Limited - India
- Sree Jayajothi Cements Limited - India
- Uttam Galva Steels Limited - India
- SN Aboitiz Power Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Agrawal Coal Company - India
- Wilmar Investment Holdings
- Global Business Power Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Indika Energy - Indonesia
- Essar Steel Hazira Ltd - India
- SMG Consultants - Indonesia
- Gujarat Sidhee Cement - India
- Ministry of Transport, Egypt
- Coalindo Energy - Indonesia
- Heidelberg Cement - Germany
- Australian Commodity Traders Exchange
- Bukit Makmur.PT - Indonesia
- Sojitz Corporation - Japan
- Coastal Gujarat Power Limited - India
- Xindia Steels Limited - India
- Electricity Generating Authority of Thailand
- Grasim Industreis Ltd - India
- ICICI Bank Limited - India
- PowerSource Philippines DevCo
- Iligan Light & Power Inc, Philippines
- Deloitte Consulting - India
- Meenaskhi Energy Private Limited - India
- Wood Mackenzie - Singapore
- Riau Bara Harum - Indonesia
- Tamil Nadu electricity Board
- Coal and Oil Company - UAE
- Bharathi Cement Corporation - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Rashtriya Ispat Nigam Limited - India
- Marubeni Corporation - India
- Holcim Trading Pte Ltd - Singapore
- Planning Commission, India
- Bulk Trading Sa - Switzerland
- Indian Oil Corporation Limited
- Toyota Tsusho Corporation, Japan
- Maharashtra Electricity Regulatory Commission - India
- Merrill Lynch Commodities Europe
- Alfred C Toepfer International GmbH - Germany
- PNOC Exploration Corporation - Philippines
- Attock Cement Pakistan Limited
- Sindya Power Generating Company Private Ltd
- Ministry of Mines - Canada
- Edison Trading Spa - Italy
- Neyveli Lignite Corporation Ltd, - India
- AsiaOL BioFuels Corp., Philippines
- GN Power Mariveles Coal Plant, Philippines
- Posco Energy - South Korea
- Karbindo Abesyapradhi - Indoneisa
- Gujarat Mineral Development Corp Ltd - India
- Kobexindo Tractors - Indoneisa
- Eastern Energy - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Carbofer General Trading SA - India
- Karaikal Port Pvt Ltd - India
- Kumho Petrochemical, South Korea
- PetroVietnam Power Coal Import and Supply Company
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Banpu Public Company Limited - Thailand
- Commonwealth Bank - Australia
- Mercuria Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Chamber of Mines of South Africa
- Rio Tinto Coal - Australia
- Tata Chemicals Ltd - India
- Baramulti Group, Indonesia
- The State Trading Corporation of India Ltd
- Jaiprakash Power Ventures ltd
- Power Finance Corporation Ltd., India
- Pipit Mutiara Jaya. PT, Indonesia
- Global Green Power PLC Corporation, Philippines
- Sical Logistics Limited - India
- Ambuja Cements Ltd - India
- Thiess Contractors Indonesia
- Straits Asia Resources Limited - Singapore
- Australian Coal Association
- The Treasury - Australian Government
- Romanian Commodities Exchange
- Semirara Mining and Power Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Directorate Of Revenue Intelligence - India
- Indonesian Coal Mining Association
- Kideco Jaya Agung - Indonesia
- Energy Link Ltd, New Zealand
- Miang Besar Coal Terminal - Indonesia
- Sarangani Energy Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Eastern Coal Council - USA
- Cement Manufacturers Association - India
- CIMB Investment Bank - Malaysia
- McConnell Dowell - Australia
- Kapuas Tunggal Persada - Indonesia
- Vizag Seaport Private Limited - India
- Interocean Group of Companies - India
- Maheswari Brothers Coal Limited - India
- Standard Chartered Bank - UAE
- Sakthi Sugars Limited - India
- Economic Council, Georgia
- Central Electricity Authority - India
- Mercator Lines Limited - India
- Electricity Authority, New Zealand
- SMC Global Power, Philippines
- TeaM Sual Corporation - Philippines
- Goldman Sachs - Singapore
- Parry Sugars Refinery, India
- Jindal Steel & Power Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Bhoruka Overseas - Indonesia
- Thai Mozambique Logistica
- Dalmia Cement Bharat India
- Billiton Holdings Pty Ltd - Australia
- Intertek Mineral Services - Indonesia
- Price Waterhouse Coopers - Russia
- Makarim & Taira - Indonesia
- Savvy Resources Ltd - HongKong
- Georgia Ports Authority, United States
- Manunggal Multi Energi - Indonesia
- Bayan Resources Tbk. - Indonesia
- CNBM International Corporation - China
- Oldendorff Carriers - Singapore
- Orica Australia Pty. Ltd.
- Salva Resources Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Kartika Selabumi Mining - Indonesia
- Binh Thuan Hamico - Vietnam
- Malabar Cements Ltd - India
- South Luzon Thermal Energy Corporation
- Bhushan Steel Limited - India
- Antam Resourcindo - Indonesia
- Globalindo Alam Lestari - Indonesia
- San Jose City I Power Corp, Philippines
- Port Waratah Coal Services - Australia
- Therma Luzon, Inc, Philippines
- GMR Energy Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Central Java Power - Indonesia
- Ind-Barath Power Infra Limited - India
- The University of Queensland
- Pendopo Energi Batubara - Indonesia
- Semirara Mining Corp, Philippines
- Anglo American - United Kingdom
- Minerals Council of Australia
- Africa Commodities Group - South Africa
- Petron Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Ministry of Finance - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Samtan Co., Ltd - South Korea
- Siam City Cement - Thailand
- GVK Power & Infra Limited - India
- India Bulls Power Limited - India
- Medco Energi Mining Internasional
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indian Energy Exchange, India
- ASAPP Information Group - India
- Borneo Indobara - Indonesia
- Meralco Power Generation, Philippines
- MS Steel International - UAE
- Kalimantan Lumbung Energi - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Indogreen Group - Indonesia
- Parliament of New Zealand
- Ceylon Electricity Board - Sri Lanka
- Siam City Cement PLC, Thailand
- IEA Clean Coal Centre - UK
- Aditya Birla Group - India
- GAC Shipping (India) Pvt Ltd
- Chettinad Cement Corporation Ltd - India
- Simpson Spence & Young - Indonesia
- VISA Power Limited - India
- Mintek Dendrill Indonesia
- London Commodity Brokers - England
- Trasteel International SA, Italy
- Energy Development Corp, Philippines
- New Zealand Coal & Carbon
- Metalloyd Limited - United Kingdom
- OPG Power Generation Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Singapore Mercantile Exchange
- Renaissance Capital - South Africa
- Formosa Plastics Group - Taiwan
- European Bulk Services B.V. - Netherlands
- IHS Mccloskey Coal Group - USA
- Orica Mining Services - Indonesia
- Timah Investasi Mineral - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- Bangladesh Power Developement Board
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