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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, 15 February 13
SCRAPPING TO RISE AS BULKER OWNERS SUFFER - DREWRY MARITIME RESEARCH
Drewry's latest Dry Bulk Forecaster report suggests that cash-strapped shipowners will scrap younger and younger ships this year as the dry bulk ma ...
Thursday, 14 February 13
HANDY: ATLANTIC "STABLE"; PACIFIC "QUIET" - FEARNLEYS
Handy
The Atlantic remain stable with rates for FH from USG around USD 18k. The Pacific remains quiet due to Chinese New Year holidays. Rates were ...
Thursday, 14 February 13
BIMCO FORECASTS MOSTLY HIGHER DRY BULK RATES FOR THE COMING WEEKS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Higher steel demand is expected to keep dry bulk rates elevated during the next six weeks, according to the latest BIMCO forecast. The Organization ...
Wednesday, 13 February 13
6TH ANNUAL CBM CONFERENCE
The 6th Annual CBM conference which will be held in Singapore on 18-21 June 201 offers comprehensive insights into leading CBM projects in the Asia- ...
Tuesday, 12 February 13
GOVERNMENT DECLARED INDONESIAN THERMAL COAL PRICE INCHES UP IN FEBRUARY
COALspot.com - The Indonesian government has declared bench mark price for coal has moved upwards in February 2013.
The monthly coal refere ...
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- Directorate General of MIneral and Coal - Indonesia
- Parry Sugars Refinery, India
- Kartika Selabumi Mining - Indonesia
- Sojitz Corporation - Japan
- Bhoruka Overseas - Indonesia
- Tata Chemicals Ltd - India
- Cigading International Bulk Terminal - Indonesia
- The State Trading Corporation of India Ltd
- Meenaskhi Energy Private Limited - India
- GVK Power & Infra Limited - India
- Global Green Power PLC Corporation, Philippines
- Wood Mackenzie - Singapore
- ICICI Bank Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- LBH Netherlands Bv - Netherlands
- Karbindo Abesyapradhi - Indoneisa
- Orica Australia Pty. Ltd.
- Petron Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Attock Cement Pakistan Limited
- Bharathi Cement Corporation - India
- PowerSource Philippines DevCo
- Carbofer General Trading SA - India
- Metalloyd Limited - United Kingdom
- Karaikal Port Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Dalmia Cement Bharat India
- Kohat Cement Company Ltd. - Pakistan
- Cement Manufacturers Association - India
- Ind-Barath Power Infra Limited - India
- Central Electricity Authority - India
- Siam City Cement PLC, Thailand
- Kapuas Tunggal Persada - Indonesia
- Global Coal Blending Company Limited - Australia
- Chamber of Mines of South Africa
- GN Power Mariveles Coal Plant, Philippines
- Ambuja Cements Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Vizag Seaport Private Limited - India
- Leighton Contractors Pty Ltd - Australia
- TeaM Sual Corporation - Philippines
- Power Finance Corporation Ltd., India
- Commonwealth Bank - Australia
- Sindya Power Generating Company Private Ltd
- Marubeni Corporation - India
- Rio Tinto Coal - Australia
- GAC Shipping (India) Pvt Ltd
- Aboitiz Power Corporation - Philippines
- Price Waterhouse Coopers - Russia
- Edison Trading Spa - Italy
- Medco Energi Mining Internasional
- The Treasury - Australian Government
- Central Java Power - Indonesia
- Parliament of New Zealand
- Savvy Resources Ltd - HongKong
- Gujarat Electricity Regulatory Commission - India
- Kalimantan Lumbung Energi - Indonesia
- Riau Bara Harum - Indonesia
- Mintek Dendrill Indonesia
- Planning Commission, India
- Orica Mining Services - Indonesia
- Bhatia International Limited - India
- Vedanta Resources Plc - India
- Holcim Trading Pte Ltd - Singapore
- Bhushan Steel Limited - India
- Mjunction Services Limited - India
- Tamil Nadu electricity Board
- Kumho Petrochemical, South Korea
- Semirara Mining and Power Corporation, Philippines
- PTC India Limited - India
- Bangladesh Power Developement Board
- McConnell Dowell - Australia
- Sarangani Energy Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Makarim & Taira - Indonesia
- Therma Luzon, Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Globalindo Alam Lestari - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Anglo American - United Kingdom
- Renaissance Capital - South Africa
- The University of Queensland
- Posco Energy - South Korea
- Binh Thuan Hamico - Vietnam
- Meralco Power Generation, Philippines
- OPG Power Generation Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Aditya Birla Group - India
- Singapore Mercantile Exchange
- Bank of Tokyo Mitsubishi UFJ Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Eastern Energy - Thailand
- Bukit Makmur.PT - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Coastal Gujarat Power Limited - India
- Ceylon Electricity Board - Sri Lanka
- GMR Energy Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Ministry of Finance - Indonesia
- White Energy Company Limited
- Formosa Plastics Group - Taiwan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Independent Power Producers Association of India
- Uttam Galva Steels Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Malabar Cements Ltd - India
- Simpson Spence & Young - Indonesia
- AsiaOL BioFuels Corp., Philippines
- IEA Clean Coal Centre - UK
- ASAPP Information Group - India
- SMC Global Power, Philippines
- Kideco Jaya Agung - Indonesia
- European Bulk Services B.V. - Netherlands
- Gujarat Sidhee Cement - India
- Indika Energy - Indonesia
- Australian Coal Association
- MS Steel International - UAE
- Bahari Cakrawala Sebuku - Indonesia
- VISA Power Limited - India
- Xindia Steels Limited - India
- Africa Commodities Group - South Africa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Romanian Commodities Exchange
- Mercuria Energy - Indonesia
- Agrawal Coal Company - India
- Bulk Trading Sa - Switzerland
- Ministry of Transport, Egypt
- Economic Council, Georgia
- Trasteel International SA, Italy
- Thiess Contractors Indonesia
- Baramulti Group, Indonesia
- Bukit Baiduri Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Port Waratah Coal Services - Australia
- Oldendorff Carriers - Singapore
- Essar Steel Hazira Ltd - India
- Madhucon Powers Ltd - India
- Eastern Coal Council - USA
- Straits Asia Resources Limited - Singapore
- IHS Mccloskey Coal Group - USA
- Barasentosa Lestari - Indonesia
- Mercator Lines Limited - India
- Thai Mozambique Logistica
- Sinarmas Energy and Mining - Indonesia
- Bayan Resources Tbk. - Indonesia
- Indian Oil Corporation Limited
- Pipit Mutiara Jaya. PT, Indonesia
- Star Paper Mills Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- SMG Consultants - Indonesia
- Goldman Sachs - Singapore
- Toyota Tsusho Corporation, Japan
- Electricity Authority, New Zealand
- San Jose City I Power Corp, Philippines
- Larsen & Toubro Limited - India
- Altura Mining Limited, Indonesia
- Minerals Council of Australia
- Maheswari Brothers Coal Limited - India
- Indogreen Group - Indonesia
- Siam City Cement - Thailand
- Energy Development Corp, Philippines
- South Luzon Thermal Energy Corporation
- Deloitte Consulting - India
- Chettinad Cement Corporation Ltd - India
- Wilmar Investment Holdings
- Coalindo Energy - Indonesia
- Latin American Coal - Colombia
- Indo Tambangraya Megah - Indonesia
- Alfred C Toepfer International GmbH - Germany
- London Commodity Brokers - England
- CNBM International Corporation - China
- Iligan Light & Power Inc, Philippines
- Indonesian Coal Mining Association
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Heidelberg Cement - Germany
- India Bulls Power Limited - India
- International Coal Ventures Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Kepco SPC Power Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- CIMB Investment Bank - Malaysia
- Lanco Infratech Ltd - India
- Georgia Ports Authority, United States
- Coal and Oil Company - UAE
- Samtan Co., Ltd - South Korea
- Antam Resourcindo - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Banpu Public Company Limited - Thailand
- Semirara Mining Corp, Philippines
- Borneo Indobara - Indonesia
- Videocon Industries ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Indian Energy Exchange, India
- Pendopo Energi Batubara - Indonesia
- Sakthi Sugars Limited - India
- Jindal Steel & Power Ltd - India
- Energy Link Ltd, New Zealand
- PetroVietnam Power Coal Import and Supply Company
- Interocean Group of Companies - India
- Global Business Power Corporation, Philippines
- Ministry of Mines - Canada
- Merrill Lynch Commodities Europe
- Grasim Industreis Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Sical Logistics Limited - India
- Standard Chartered Bank - UAE
- PNOC Exploration Corporation - Philippines
- New Zealand Coal & Carbon
- Maharashtra Electricity Regulatory Commission - India
- Electricity Generating Authority of Thailand
- Australian Commodity Traders Exchange
- Salva Resources Pvt Ltd - India
- Intertek Mineral Services - Indonesia
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