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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, 05 January 13
THE SHIPPING MARKET IN 2012 AND LOOKING FORWARD - BIMCO
Global Economy: Things will go up from here
The global economy continues to grow, albeit at a slower pace than previous years. The slower economic ...
Friday, 04 January 13
DRY BULK MARKET LOOKING FOR DIRECTION IN FIRST TRADING DAYS OF THE NEW YEAR - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market is actively looking for its footing at the start of the New Year, as charters have been scarce, as is usually the case during th ...
Thursday, 03 January 13
INDONESIAN SUB-BITUMINOUS COAL SWAPS CLOSED US$ 6.86 HIGHER FOR 2014 DELIVERY
COALspot.com - Swaps prices were changed positively for thermal coal for loading in the first quarter from Indonesia, according to SGX AsiaClear OTC ...
Thursday, 03 January 13
SUPRMAX FREIGHT RATE FROM RED SEA / INDIA IS AROUND MID TEENS - FEARNLEYS
Fearnleys in its weekly report said that, Indian market was very quiet in respect of export of iron ore. For Indo-India trip Supra rate was hovering ...
Thursday, 03 January 13
DRY BULK DEMAND TO KEEP RISING IN 2013, DRY BULK SHIP PRICES TO KEEP FALLING SAYS ANALYST - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
In a recent report on the future of the shipping markets, DVB bank said that dry bulk demand is expected to keep on growing in the coming years, mai ...
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- GAC Shipping (India) Pvt Ltd
- Mercator Lines Limited - India
- Posco Energy - South Korea
- CNBM International Corporation - China
- Georgia Ports Authority, United States
- Maharashtra Electricity Regulatory Commission - India
- TNB Fuel Sdn Bhd - Malaysia
- European Bulk Services B.V. - Netherlands
- Renaissance Capital - South Africa
- Sakthi Sugars Limited - India
- Kideco Jaya Agung - Indonesia
- Standard Chartered Bank - UAE
- Star Paper Mills Limited - India
- Energy Link Ltd, New Zealand
- Port Waratah Coal Services - Australia
- Semirara Mining and Power Corporation, Philippines
- Madhucon Powers Ltd - India
- Sojitz Corporation - Japan
- Coalindo Energy - Indonesia
- Indian Energy Exchange, India
- Pendopo Energi Batubara - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Holcim Trading Pte Ltd - Singapore
- CIMB Investment Bank - Malaysia
- Indian Oil Corporation Limited
- Straits Asia Resources Limited - Singapore
- ASAPP Information Group - India
- Ceylon Electricity Board - Sri Lanka
- Coal and Oil Company - UAE
- Bhushan Steel Limited - India
- South Luzon Thermal Energy Corporation
- Ministry of Transport, Egypt
- Bharathi Cement Corporation - India
- Bhatia International Limited - India
- Bayan Resources Tbk. - Indonesia
- Mercuria Energy - Indonesia
- Carbofer General Trading SA - India
- Timah Investasi Mineral - Indoneisa
- Indika Energy - Indonesia
- Global Business Power Corporation, Philippines
- Marubeni Corporation - India
- Bahari Cakrawala Sebuku - Indonesia
- London Commodity Brokers - England
- Neyveli Lignite Corporation Ltd, - India
- Miang Besar Coal Terminal - Indonesia
- Bukit Makmur.PT - Indonesia
- Chettinad Cement Corporation Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Orica Mining Services - Indonesia
- Alfred C Toepfer International GmbH - Germany
- LBH Netherlands Bv - Netherlands
- Samtan Co., Ltd - South Korea
- Rashtriya Ispat Nigam Limited - India
- VISA Power Limited - India
- Baramulti Group, Indonesia
- PTC India Limited - India
- Tata Chemicals Ltd - India
- IEA Clean Coal Centre - UK
- Aditya Birla Group - India
- Ministry of Finance - Indonesia
- Agrawal Coal Company - India
- San Jose City I Power Corp, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Medco Energi Mining Internasional
- Cement Manufacturers Association - India
- Bhoruka Overseas - Indonesia
- Kaltim Prima Coal - Indonesia
- Salva Resources Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Kartika Selabumi Mining - Indonesia
- OPG Power Generation Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Coastal Gujarat Power Limited - India
- Australian Coal Association
- Toyota Tsusho Corporation, Japan
- Asmin Koalindo Tuhup - Indonesia
- Mintek Dendrill Indonesia
- Simpson Spence & Young - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- International Coal Ventures Pvt Ltd - India
- Meralco Power Generation, Philippines
- ICICI Bank Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Makarim & Taira - Indonesia
- Manunggal Multi Energi - Indonesia
- Economic Council, Georgia
- Gujarat Electricity Regulatory Commission - India
- Parliament of New Zealand
- Directorate General of MIneral and Coal - Indonesia
- Dalmia Cement Bharat India
- Jorong Barutama Greston.PT - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- SMG Consultants - Indonesia
- PowerSource Philippines DevCo
- Indonesian Coal Mining Association
- Independent Power Producers Association of India
- Billiton Holdings Pty Ltd - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Karbindo Abesyapradhi - Indoneisa
- Global Green Power PLC Corporation, Philippines
- Larsen & Toubro Limited - India
- Sinarmas Energy and Mining - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Wood Mackenzie - Singapore
- Electricity Generating Authority of Thailand
- Vedanta Resources Plc - India
- Price Waterhouse Coopers - Russia
- Directorate Of Revenue Intelligence - India
- Parry Sugars Refinery, India
- Therma Luzon, Inc, Philippines
- Ambuja Cements Ltd - India
- SMC Global Power, Philippines
- Siam City Cement - Thailand
- Xindia Steels Limited - India
- PetroVietnam Power Coal Import and Supply Company
- White Energy Company Limited
- Interocean Group of Companies - India
- Uttam Galva Steels Limited - India
- Planning Commission, India
- Altura Mining Limited, Indonesia
- Sarangani Energy Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Thai Mozambique Logistica
- Iligan Light & Power Inc, Philippines
- Oldendorff Carriers - Singapore
- Indo Tambangraya Megah - Indonesia
- Aboitiz Power Corporation - Philippines
- Binh Thuan Hamico - Vietnam
- Wilmar Investment Holdings
- Trasteel International SA, Italy
- Thiess Contractors Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Kalimantan Lumbung Energi - Indonesia
- PNOC Exploration Corporation - Philippines
- Kepco SPC Power Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Kohat Cement Company Ltd. - Pakistan
- India Bulls Power Limited - India
- Africa Commodities Group - South Africa
- Bukit Asam (Persero) Tbk - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Central Java Power - Indonesia
- Heidelberg Cement - Germany
- Formosa Plastics Group - Taiwan
- Lanco Infratech Ltd - India
- Kumho Petrochemical, South Korea
- Latin American Coal - Colombia
- Maheswari Brothers Coal Limited - India
- Jaiprakash Power Ventures ltd
- New Zealand Coal & Carbon
- Sree Jayajothi Cements Limited - India
- Australian Commodity Traders Exchange
- Borneo Indobara - Indonesia
- Chamber of Mines of South Africa
- Merrill Lynch Commodities Europe
- MS Steel International - UAE
- Videocon Industries ltd - India
- Rio Tinto Coal - Australia
- Antam Resourcindo - Indonesia
- Global Coal Blending Company Limited - Australia
- Meenaskhi Energy Private Limited - India
- GVK Power & Infra Limited - India
- Attock Cement Pakistan Limited
- Barasentosa Lestari - Indonesia
- Energy Development Corp, Philippines
- Minerals Council of Australia
- Metalloyd Limited - United Kingdom
- Singapore Mercantile Exchange
- Gujarat Sidhee Cement - India
- Commonwealth Bank - Australia
- Leighton Contractors Pty Ltd - Australia
- Kapuas Tunggal Persada - Indonesia
- IHS Mccloskey Coal Group - USA
- Sical Logistics Limited - India
- Sindya Power Generating Company Private Ltd
- TeaM Sual Corporation - Philippines
- Romanian Commodities Exchange
- Goldman Sachs - Singapore
- Power Finance Corporation Ltd., India
- GMR Energy Limited - India
- McConnell Dowell - Australia
- Bukit Baiduri Energy - Indonesia
- Electricity Authority, New Zealand
- Grasim Industreis Ltd - India
- Central Electricity Authority - India
- Banpu Public Company Limited - Thailand
- Gujarat Mineral Development Corp Ltd - India
- Eastern Coal Council - USA
- Jindal Steel & Power Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Siam City Cement PLC, Thailand
- Indogreen Group - Indonesia
- Edison Trading Spa - Italy
- Anglo American - United Kingdom
- Eastern Energy - Thailand
- Semirara Mining Corp, Philippines
- The Treasury - Australian Government
- Cigading International Bulk Terminal - Indonesia
- Petron Corporation, Philippines
- Orica Australia Pty. Ltd.
- Karaikal Port Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Bangladesh Power Developement Board
- Vizag Seaport Private Limited - India
- Malabar Cements Ltd - India
- Riau Bara Harum - Indonesia
- Ministry of Mines - Canada
- Deloitte Consulting - India
- Savvy Resources Ltd - HongKong
- Globalindo Alam Lestari - Indonesia
- The University of Queensland
- Tamil Nadu electricity Board
- Ind-Barath Power Infra Limited - India
- Mjunction Services Limited - India
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