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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, 07 February 13
CHINA NDRC APPROVED 10 BILLION YUAN POWER GENERATION PROJECTS
NDRC of China currently announced that some of power grid and power station in Jiangxu, Sichuan and Anhui Province would be newly constructed or ext ...
Thursday, 07 February 13
CAPESIZE : MORE ACTIVE WEEK IN THE PACIFIC - FEARNLEYS AS
Handy
The Atlantic market remained stable with no significant movement in rates. Rates from USG to FEast were around USD 18k and Black Sea to Feast ...
Thursday, 07 February 13
WEAK STEEL MARKET MEANS IRON ORE RALLY LIKELY TO END SOON - FITCH
The sharp rebound in iron ore prices over the last couple of months will hurt margins at non-integrated steel producers in the first quarter of 2013 ...
Tuesday, 05 February 13
THE SHIPPING SECTOR IS " NAVIGATING IN STORMY WATERS" - PWC
The vulnerabilities of the global economy have been exposed and have more than played their part in making 2011 one of the worst years of shipping i ...
Tuesday, 05 February 13
NEWCASTLE PORT COAL SHIPMENTS DROPPED BY 10.77 PERCENT W-O-W
COALspot.com - Newcastle port in Australia has loaded 2,412,497 MT of thermal and coking coal for week ended 0700 hours 4 February 2013, Newca ...
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- Siam City Cement PLC, Thailand
- Neyveli Lignite Corporation Ltd, - India
- Kobexindo Tractors - Indoneisa
- Bukit Asam (Persero) Tbk - Indonesia
- PNOC Exploration Corporation - Philippines
- Orica Mining Services - Indonesia
- Meralco Power Generation, Philippines
- Kaltim Prima Coal - Indonesia
- Coalindo Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- The State Trading Corporation of India Ltd
- London Commodity Brokers - England
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Deloitte Consulting - India
- South Luzon Thermal Energy Corporation
- San Jose City I Power Corp, Philippines
- Global Green Power PLC Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Simpson Spence & Young - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Power Finance Corporation Ltd., India
- Eastern Energy - Thailand
- Sical Logistics Limited - India
- Petron Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Jorong Barutama Greston.PT - Indonesia
- Commonwealth Bank - Australia
- Vizag Seaport Private Limited - India
- Sakthi Sugars Limited - India
- Bhoruka Overseas - Indonesia
- Singapore Mercantile Exchange
- Standard Chartered Bank - UAE
- SMG Consultants - Indonesia
- Metalloyd Limited - United Kingdom
- Thai Mozambique Logistica
- Salva Resources Pvt Ltd - India
- Indian Oil Corporation Limited
- PTC India Limited - India
- Electricity Authority, New Zealand
- SN Aboitiz Power Inc, Philippines
- Australian Coal Association
- PowerSource Philippines DevCo
- Parliament of New Zealand
- Intertek Mineral Services - Indonesia
- Central Java Power - Indonesia
- LBH Netherlands Bv - Netherlands
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Global Coal Blending Company Limited - Australia
- Star Paper Mills Limited - India
- Samtan Co., Ltd - South Korea
- Ceylon Electricity Board - Sri Lanka
- Sarangani Energy Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- CIMB Investment Bank - Malaysia
- Global Business Power Corporation, Philippines
- Madhucon Powers Ltd - India
- Bangladesh Power Developement Board
- OPG Power Generation Pvt Ltd - India
- Cement Manufacturers Association - India
- GAC Shipping (India) Pvt Ltd
- Altura Mining Limited, Indonesia
- ASAPP Information Group - India
- Energy Link Ltd, New Zealand
- GVK Power & Infra Limited - India
- Ambuja Cements Ltd - India
- CNBM International Corporation - China
- Australian Commodity Traders Exchange
- Marubeni Corporation - India
- Parry Sugars Refinery, India
- Mercuria Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Vedanta Resources Plc - India
- Riau Bara Harum - Indonesia
- Indo Tambangraya Megah - Indonesia
- Bharathi Cement Corporation - India
- Jindal Steel & Power Ltd - India
- GMR Energy Limited - India
- Latin American Coal - Colombia
- Anglo American - United Kingdom
- European Bulk Services B.V. - Netherlands
- The University of Queensland
- The Treasury - Australian Government
- Makarim & Taira - Indonesia
- Essar Steel Hazira Ltd - India
- Eastern Coal Council - USA
- Dalmia Cement Bharat India
- GN Power Mariveles Coal Plant, Philippines
- Maheswari Brothers Coal Limited - India
- Larsen & Toubro Limited - India
- Pendopo Energi Batubara - Indonesia
- IHS Mccloskey Coal Group - USA
- Uttam Galva Steels Limited - India
- Economic Council, Georgia
- Toyota Tsusho Corporation, Japan
- White Energy Company Limited
- Minerals Council of Australia
- Vijayanagar Sugar Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Kalimantan Lumbung Energi - Indonesia
- Baramulti Group, Indonesia
- Sindya Power Generating Company Private Ltd
- Aboitiz Power Corporation - Philippines
- Africa Commodities Group - South Africa
- Wood Mackenzie - Singapore
- Formosa Plastics Group - Taiwan
- MS Steel International - UAE
- Indogreen Group - Indonesia
- Xindia Steels Limited - India
- TeaM Sual Corporation - Philippines
- Posco Energy - South Korea
- Orica Australia Pty. Ltd.
- Globalindo Alam Lestari - Indonesia
- Independent Power Producers Association of India
- New Zealand Coal & Carbon
- Videocon Industries ltd - India
- Edison Trading Spa - Italy
- Siam City Cement - Thailand
- Binh Thuan Hamico - Vietnam
- Chamber of Mines of South Africa
- Agrawal Coal Company - India
- Sojitz Corporation - Japan
- VISA Power Limited - India
- Ministry of Transport, Egypt
- Sree Jayajothi Cements Limited - India
- Indika Energy - Indonesia
- Bukit Baiduri Energy - Indonesia
- Mintek Dendrill Indonesia
- Aditya Birla Group - India
- Rashtriya Ispat Nigam Limited - India
- Goldman Sachs - Singapore
- Tamil Nadu electricity Board
- Medco Energi Mining Internasional
- Coal and Oil Company - UAE
- Lanco Infratech Ltd - India
- Mjunction Services Limited - India
- Renaissance Capital - South Africa
- Karbindo Abesyapradhi - Indoneisa
- Mercator Lines Limited - India
- Ind-Barath Power Infra Limited - India
- AsiaOL BioFuels Corp., Philippines
- Attock Cement Pakistan Limited
- Ministry of Mines - Canada
- Alfred C Toepfer International GmbH - Germany
- Barasentosa Lestari - Indonesia
- Bhatia International Limited - India
- Oldendorff Carriers - Singapore
- Sinarmas Energy and Mining - Indonesia
- Romanian Commodities Exchange
- Heidelberg Cement - Germany
- Tata Chemicals Ltd - India
- Ministry of Finance - Indonesia
- Indonesian Coal Mining Association
- Directorate General of MIneral and Coal - Indonesia
- Kumho Petrochemical, South Korea
- Straits Asia Resources Limited - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Karaikal Port Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Coastal Gujarat Power Limited - India
- Bulk Trading Sa - Switzerland
- Planning Commission, India
- Central Electricity Authority - India
- Electricity Generating Authority of Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Indian Energy Exchange, India
- Malabar Cements Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Port Waratah Coal Services - Australia
- Therma Luzon, Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- SMC Global Power, Philippines
- Interocean Group of Companies - India
- International Coal Ventures Pvt Ltd - India
- Borneo Indobara - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Merrill Lynch Commodities Europe
- Gujarat Sidhee Cement - India
- Chettinad Cement Corporation Ltd - India
- Bayan Resources Tbk. - Indonesia
- McConnell Dowell - Australia
- Georgia Ports Authority, United States
- Billiton Holdings Pty Ltd - Australia
- Bhushan Steel Limited - India
- Grasim Industreis Ltd - India
- Trasteel International SA, Italy
- Directorate Of Revenue Intelligence - India
- India Bulls Power Limited - India
- Kideco Jaya Agung - Indonesia
- Semirara Mining Corp, Philippines
- Wilmar Investment Holdings
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Antam Resourcindo - Indonesia
- Price Waterhouse Coopers - Russia
- Thiess Contractors Indonesia
- Rio Tinto Coal - Australia
- Iligan Light & Power Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Carbofer General Trading SA - India
- Semirara Mining and Power Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Energy Development Corp, Philippines
- IEA Clean Coal Centre - UK
- Kapuas Tunggal Persada - Indonesia
- Kartika Selabumi Mining - Indonesia
- ICICI Bank Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Meenaskhi Energy Private Limited - India
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