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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, 28 February 13
SHIP OWNERS EXPECTED TO FACE A CHALLENGING YEAR, DESPITE THE FALL OF NEWBUILDING ORDERS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Tonnage oversupply and a lagging growth in world trade demand are expected to keep shipping in the "red", despite a series of measures ado ...
Thursday, 28 February 13
PANAMAX : MARKET HAS SEEN A GOOD UPTURN OVER THE LAST WEEK - FEARNLEYS
Handy
The Atlantic saw more cargoes than last week and rates ticking upwards. The USG-Feast was at USD 19k and Black Sea-Feast was at USD 11k. The ...
Wednesday, 27 February 13
NEWCASTLE PORT IN AUSTRALIA SHIPPED 0.358 MILLION MT MORE COAL W-O-W
COALspot.com - Newcastle port in Australia has loaded 2,178,869 MT of thermal and coking coal for week ended 0700 hours 25 February 2013, Newc ...
Wednesday, 27 February 13
NEWLEAD HOLDINGS LTD. ANNOUNCES COAL SUPPLY AND DELIVERY CONTRACT
NewLead Holdings Ltd. yesterday announced that the Company has signed an agreement to supply and deliver 1.48 million metric tons of steam coal to a ...
Tuesday, 26 February 13
10TH CLEAN COAL FORUM WILL BE HELD ON JUNE 2013
CDMC Events will be presenting the 10th Clean Coal Forum 2013 on June 13 - 14, 2013 in Beijing,China.
It will make you understand regulatory asp ...
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- PowerSource Philippines DevCo
- Sindya Power Generating Company Private Ltd
- London Commodity Brokers - England
- Metalloyd Limited - United Kingdom
- Central Java Power - Indonesia
- Mercator Lines Limited - India
- Salva Resources Pvt Ltd - India
- Indian Oil Corporation Limited
- Latin American Coal - Colombia
- Sarangani Energy Corporation, Philippines
- IEA Clean Coal Centre - UK
- Indian Energy Exchange, India
- Xindia Steels Limited - India
- Marubeni Corporation - India
- Coastal Gujarat Power Limited - India
- Georgia Ports Authority, United States
- Kideco Jaya Agung - Indonesia
- Kartika Selabumi Mining - Indonesia
- Bharathi Cement Corporation - India
- Tamil Nadu electricity Board
- Vedanta Resources Plc - India
- Manunggal Multi Energi - Indonesia
- The State Trading Corporation of India Ltd
- The Treasury - Australian Government
- Bhoruka Overseas - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Parliament of New Zealand
- Meralco Power Generation, Philippines
- Singapore Mercantile Exchange
- Indika Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Interocean Group of Companies - India
- Commonwealth Bank - Australia
- Ministry of Transport, Egypt
- Vizag Seaport Private Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Anglo American - United Kingdom
- Merrill Lynch Commodities Europe
- PTC India Limited - India
- Straits Asia Resources Limited - Singapore
- Eastern Coal Council - USA
- Jindal Steel & Power Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Electricity Authority, New Zealand
- Wood Mackenzie - Singapore
- Neyveli Lignite Corporation Ltd, - India
- International Coal Ventures Pvt Ltd - India
- Ambuja Cements Ltd - India
- Australian Coal Association
- Simpson Spence & Young - Indonesia
- Makarim & Taira - Indonesia
- Chamber of Mines of South Africa
- Ministry of Finance - Indonesia
- Orica Australia Pty. Ltd.
- Uttam Galva Steels Limited - India
- Energy Link Ltd, New Zealand
- Bukit Makmur.PT - Indonesia
- Petron Corporation, Philippines
- GVK Power & Infra Limited - India
- Deloitte Consulting - India
- Kapuas Tunggal Persada - Indonesia
- Bangladesh Power Developement Board
- Malabar Cements Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- SMC Global Power, Philippines
- McConnell Dowell - Australia
- Price Waterhouse Coopers - Russia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Global Business Power Corporation, Philippines
- ASAPP Information Group - India
- PNOC Exploration Corporation - Philippines
- Mintek Dendrill Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Riau Bara Harum - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Sojitz Corporation - Japan
- Altura Mining Limited, Indonesia
- Oldendorff Carriers - Singapore
- Asmin Koalindo Tuhup - Indonesia
- GMR Energy Limited - India
- Coal and Oil Company - UAE
- Miang Besar Coal Terminal - Indonesia
- White Energy Company Limited
- Toyota Tsusho Corporation, Japan
- Global Green Power PLC Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Heidelberg Cement - Germany
- AsiaOL BioFuels Corp., Philippines
- European Bulk Services B.V. - Netherlands
- Africa Commodities Group - South Africa
- India Bulls Power Limited - India
- Rio Tinto Coal - Australia
- Mercuria Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- CNBM International Corporation - China
- Barasentosa Lestari - Indonesia
- Port Waratah Coal Services - Australia
- Rashtriya Ispat Nigam Limited - India
- Electricity Generating Authority of Thailand
- Energy Development Corp, Philippines
- Aditya Birla Group - India
- Gujarat Electricity Regulatory Commission - India
- Sical Logistics Limited - India
- Romanian Commodities Exchange
- Formosa Plastics Group - Taiwan
- Central Electricity Authority - India
- Parry Sugars Refinery, India
- Bhushan Steel Limited - India
- Billiton Holdings Pty Ltd - Australia
- TeaM Sual Corporation - Philippines
- Coalindo Energy - Indonesia
- Orica Mining Services - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Wilmar Investment Holdings
- Sakthi Sugars Limited - India
- Kumho Petrochemical, South Korea
- Samtan Co., Ltd - South Korea
- Pendopo Energi Batubara - Indonesia
- Bayan Resources Tbk. - Indonesia
- Holcim Trading Pte Ltd - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Maheswari Brothers Coal Limited - India
- SMG Consultants - Indonesia
- Economic Council, Georgia
- Indogreen Group - Indonesia
- Binh Thuan Hamico - Vietnam
- IHS Mccloskey Coal Group - USA
- Planning Commission, India
- Indo Tambangraya Megah - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Madhucon Powers Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Sree Jayajothi Cements Limited - India
- OPG Power Generation Pvt Ltd - India
- Bhatia International Limited - India
- Jaiprakash Power Ventures ltd
- Iligan Light & Power Inc, Philippines
- Minerals Council of Australia
- Kalimantan Lumbung Energi - Indonesia
- CIMB Investment Bank - Malaysia
- Aboitiz Power Corporation - Philippines
- Antam Resourcindo - Indonesia
- SN Aboitiz Power Inc, Philippines
- Eastern Energy - Thailand
- Agrawal Coal Company - India
- Cigading International Bulk Terminal - Indonesia
- San Jose City I Power Corp, Philippines
- South Luzon Thermal Energy Corporation
- VISA Power Limited - India
- ICICI Bank Limited - India
- Essar Steel Hazira Ltd - India
- Thai Mozambique Logistica
- Leighton Contractors Pty Ltd - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Karaikal Port Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Siam City Cement PLC, Thailand
- Siam City Cement - Thailand
- Tata Chemicals Ltd - India
- Renaissance Capital - South Africa
- Goldman Sachs - Singapore
- Intertek Mineral Services - Indonesia
- Cement Manufacturers Association - India
- Meenaskhi Energy Private Limited - India
- Videocon Industries ltd - India
- GAC Shipping (India) Pvt Ltd
- Kobexindo Tractors - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
- Attock Cement Pakistan Limited
- Lanco Infratech Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ministry of Mines - Canada
- Star Paper Mills Limited - India
- Power Finance Corporation Ltd., India
- Kohat Cement Company Ltd. - Pakistan
- Baramulti Group, Indonesia
- Gujarat Sidhee Cement - India
- Karbindo Abesyapradhi - Indoneisa
- Indonesian Coal Mining Association
- Larsen & Toubro Limited - India
- LBH Netherlands Bv - Netherlands
- Kaltim Prima Coal - Indonesia
- Ind-Barath Power Infra Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ceylon Electricity Board - Sri Lanka
- Alfred C Toepfer International GmbH - Germany
- Semirara Mining and Power Corporation, Philippines
- Mjunction Services Limited - India
- Posco Energy - South Korea
- Medco Energi Mining Internasional
- Banpu Public Company Limited - Thailand
- Carbofer General Trading SA - India
- New Zealand Coal & Carbon
- Independent Power Producers Association of India
- Global Coal Blending Company Limited - Australia
- Trasteel International SA, Italy
- MS Steel International - UAE
- Thiess Contractors Indonesia
- Therma Luzon, Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Kepco SPC Power Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Australian Commodity Traders Exchange
- Globalindo Alam Lestari - Indonesia
- Edison Trading Spa - Italy
- Dalmia Cement Bharat India
- The University of Queensland
- Bulk Trading Sa - Switzerland
- Standard Chartered Bank - UAE
- Grasim Industreis Ltd - India
- Borneo Indobara - Indonesia
- Semirara Mining Corp, Philippines
- Bukit Baiduri Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
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