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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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Saturday, 12 January 13
SUB-BIT FOB INDONESIA COAL SWAPS: WEAK
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for average Q1’ 2013 delivery has lost 0.32 percent WoW but CFR South China coal ship ...
Saturday, 12 January 13
HIGHER COAL PRICES: SEASONAL EFFECT
COALspot.com : Bahana Securities, one of the leading securities in Indonesia, said in its latest coal outlook that, on US and China&rsquo ...
Friday, 11 January 13
HBA HAS JUMPED BY US$ 5.80 PMT IN JANUARY 2013
COALspot.com - The Indonesian government has declared bench mark price for coal higher than December price. The monthly coal reference price f ...
Thursday, 10 January 13
PANAMAX : SOME GLIMMERS OF HOPE MID WEEK - FEARNLEYS
According to Fearnley’s weekly report, the Atlantic handy market is stable with rates around USD 11k for Cont-Feast and USD 17k bss USG/Feast. ...
Thursday, 10 January 13
DRY BULK PANAMAX MARKET HEAVILY OVERSUPPLIED, UNLIKELY TO FIND SUPPORT IN 2013 - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Despite positive indication for a significant surge of dry bulk demand this year, the oversupply problems of the market, will continue to weigh heav ...
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- Salva Resources Pvt Ltd - India
- Videocon Industries ltd - India
- Holcim Trading Pte Ltd - Singapore
- Kapuas Tunggal Persada - Indonesia
- Antam Resourcindo - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- TNB Fuel Sdn Bhd - Malaysia
- Port Waratah Coal Services - Australia
- Global Coal Blending Company Limited - Australia
- Maheswari Brothers Coal Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Larsen & Toubro Limited - India
- India Bulls Power Limited - India
- Kepco SPC Power Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Vizag Seaport Private Limited - India
- Coal and Oil Company - UAE
- Formosa Plastics Group - Taiwan
- Renaissance Capital - South Africa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Binh Thuan Hamico - Vietnam
- Star Paper Mills Limited - India
- Bhushan Steel Limited - India
- London Commodity Brokers - England
- Directorate Of Revenue Intelligence - India
- SMG Consultants - Indonesia
- Mercuria Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Rio Tinto Coal - Australia
- Attock Cement Pakistan Limited
- Semirara Mining Corp, Philippines
- Edison Trading Spa - Italy
- Krishnapatnam Port Company Ltd. - India
- Thiess Contractors Indonesia
- Meenaskhi Energy Private Limited - India
- Baramulti Group, Indonesia
- Trasteel International SA, Italy
- Pendopo Energi Batubara - Indonesia
- IHS Mccloskey Coal Group - USA
- Interocean Group of Companies - India
- Indo Tambangraya Megah - Indonesia
- Kobexindo Tractors - Indoneisa
- Uttam Galva Steels Limited - India
- Latin American Coal - Colombia
- Bayan Resources Tbk. - Indonesia
- Jaiprakash Power Ventures ltd
- Bukit Baiduri Energy - Indonesia
- MS Steel International - UAE
- Kideco Jaya Agung - Indonesia
- Romanian Commodities Exchange
- Bank of Tokyo Mitsubishi UFJ Ltd
- Australian Commodity Traders Exchange
- Meralco Power Generation, Philippines
- Chamber of Mines of South Africa
- PTC India Limited - India
- Indonesian Coal Mining Association
- Global Green Power PLC Corporation, Philippines
- Central Electricity Authority - India
- Independent Power Producers Association of India
- Intertek Mineral Services - Indonesia
- Gujarat Electricity Regulatory Commission - India
- New Zealand Coal & Carbon
- Parliament of New Zealand
- Billiton Holdings Pty Ltd - Australia
- Sree Jayajothi Cements Limited - India
- Power Finance Corporation Ltd., India
- Central Java Power - Indonesia
- Australian Coal Association
- Carbofer General Trading SA - India
- Electricity Authority, New Zealand
- Dalmia Cement Bharat India
- Maharashtra Electricity Regulatory Commission - India
- Indogreen Group - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Orica Mining Services - Indonesia
- Bukit Makmur.PT - Indonesia
- European Bulk Services B.V. - Netherlands
- Pipit Mutiara Jaya. PT, Indonesia
- Eastern Energy - Thailand
- Madhucon Powers Ltd - India
- Karaikal Port Pvt Ltd - India
- The University of Queensland
- VISA Power Limited - India
- Siam City Cement - Thailand
- International Coal Ventures Pvt Ltd - India
- McConnell Dowell - Australia
- Sojitz Corporation - Japan
- Bukit Asam (Persero) Tbk - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Planning Commission, India
- Asmin Koalindo Tuhup - Indonesia
- SMC Global Power, Philippines
- Posco Energy - South Korea
- Price Waterhouse Coopers - Russia
- Riau Bara Harum - Indonesia
- Goldman Sachs - Singapore
- Samtan Co., Ltd - South Korea
- Kohat Cement Company Ltd. - Pakistan
- Therma Luzon, Inc, Philippines
- Gujarat Sidhee Cement - India
- Global Business Power Corporation, Philippines
- GVK Power & Infra Limited - India
- Vedanta Resources Plc - India
- SN Aboitiz Power Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Georgia Ports Authority, United States
- San Jose City I Power Corp, Philippines
- Heidelberg Cement - Germany
- IEA Clean Coal Centre - UK
- Xindia Steels Limited - India
- Tata Chemicals Ltd - India
- PNOC Exploration Corporation - Philippines
- Aditya Birla Group - India
- Grasim Industreis Ltd - India
- Medco Energi Mining Internasional
- Iligan Light & Power Inc, Philippines
- Petron Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Globalindo Alam Lestari - Indonesia
- White Energy Company Limited
- Altura Mining Limited, Indonesia
- Energy Development Corp, Philippines
- The State Trading Corporation of India Ltd
- Ministry of Mines - Canada
- Merrill Lynch Commodities Europe
- Kumho Petrochemical, South Korea
- Mjunction Services Limited - India
- CIMB Investment Bank - Malaysia
- Singapore Mercantile Exchange
- Coastal Gujarat Power Limited - India
- Indika Energy - Indonesia
- Indian Energy Exchange, India
- Ministry of Transport, Egypt
- Bhatia International Limited - India
- OPG Power Generation Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Ceylon Electricity Board - Sri Lanka
- Africa Commodities Group - South Africa
- Ambuja Cements Ltd - India
- Deloitte Consulting - India
- Simpson Spence & Young - Indonesia
- Coalindo Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Ministry of Finance - Indonesia
- Alfred C Toepfer International GmbH - Germany
- South Luzon Thermal Energy Corporation
- Jindal Steel & Power Ltd - India
- Banpu Public Company Limited - Thailand
- Thai Mozambique Logistica
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Economic Council, Georgia
- CNBM International Corporation - China
- ICICI Bank Limited - India
- Mintek Dendrill Indonesia
- The Treasury - Australian Government
- GMR Energy Limited - India
- Lanco Infratech Ltd - India
- Agrawal Coal Company - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Tamil Nadu electricity Board
- Sinarmas Energy and Mining - Indonesia
- Wilmar Investment Holdings
- Parry Sugars Refinery, India
- Electricity Generating Authority of Thailand
- Sical Logistics Limited - India
- Bangladesh Power Developement Board
- Kalimantan Lumbung Energi - Indonesia
- Bulk Trading Sa - Switzerland
- Siam City Cement PLC, Thailand
- Leighton Contractors Pty Ltd - Australia
- Bhoruka Overseas - Indonesia
- Oldendorff Carriers - Singapore
- Miang Besar Coal Terminal - Indonesia
- Aboitiz Power Corporation - Philippines
- Bharathi Cement Corporation - India
- Semirara Mining and Power Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Sakthi Sugars Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Kartika Selabumi Mining - Indonesia
- Malabar Cements Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Savvy Resources Ltd - HongKong
- Orica Australia Pty. Ltd.
- Wood Mackenzie - Singapore
- Barasentosa Lestari - Indonesia
- Cigading International Bulk Terminal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Standard Chartered Bank - UAE
- Kaltim Prima Coal - Indonesia
- Cement Manufacturers Association - India
- Bahari Cakrawala Sebuku - Indonesia
- Timah Investasi Mineral - Indoneisa
- PowerSource Philippines DevCo
- Energy Link Ltd, New Zealand
- Commonwealth Bank - Australia
- Chettinad Cement Corporation Ltd - India
- Ind-Barath Power Infra Limited - India
- ASAPP Information Group - India
- Jorong Barutama Greston.PT - Indonesia
- Anglo American - United Kingdom
- Marubeni Corporation - India
- Essar Steel Hazira Ltd - India
- Borneo Indobara - Indonesia
- Eastern Coal Council - USA
- Mercator Lines Limited - India
- TeaM Sual Corporation - Philippines
- Minerals Council of Australia
- Sarangani Energy Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- LBH Netherlands Bv - Netherlands
- Makarim & Taira - Indonesia
- Indian Oil Corporation Limited
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