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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, 29 December 12
SHIPBREAKING YARDS IN INDIA DEMOLISH A TOTAL OF 527 VESSELS IN 2012, BREAKING ALL PREVIOUS RECORDS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
India's ship demolition experts of Star Matrix contemplated this week on the issue of why ships in the range of 1,000 and up to 6,500 liquid tons ( ...
Thursday, 27 December 12
A LOOK AT WORLD TRADE PATTERNS DURING 2013 - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
While China's leaders are likely to stick with the 2012 economic growth rate of 7.5% when they chart a course for 2013 - its weakest pace since 199 ...
Thursday, 27 December 12
INDONESIA SHIPPED 33.578* MMT COAL IN NOVEMBER
COALspot.com: Indonesia, the world largest multi grade coal exporter has shipped 33.578* million tons of coal in November 2012. thi ...
Wednesday, 26 December 12
UPDATE ON EXPORT BAN ON RAW MINERALS AND ORE - RITA SUSANTO
COALspot.com - In May 2012, the Minister of Energy and Mineral Resources (“MoEMR”) in Regulation No.7 (“Reg-7”, amended by R ...
Wednesday, 26 December 12
SHIP OWNERS WRAP UP NEWBUILDING DEALS PRIOR TO YEAR END - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
As the year inches closer and closer to its end, many ship owners are looking to close deals for newbuilding vessels they have been negotiating duri ...
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- Krishnapatnam Port Company Ltd. - India
- Anglo American - United Kingdom
- Australian Coal Association
- European Bulk Services B.V. - Netherlands
- Edison Trading Spa - Italy
- Standard Chartered Bank - UAE
- VISA Power Limited - India
- The Treasury - Australian Government
- Antam Resourcindo - Indonesia
- Indo Tambangraya Megah - Indonesia
- Indian Energy Exchange, India
- Jaiprakash Power Ventures ltd
- Mintek Dendrill Indonesia
- Sakthi Sugars Limited - India
- Intertek Mineral Services - Indonesia
- Binh Thuan Hamico - Vietnam
- Altura Mining Limited, Indonesia
- Africa Commodities Group - South Africa
- SMC Global Power, Philippines
- Kartika Selabumi Mining - Indonesia
- Eastern Energy - Thailand
- Jindal Steel & Power Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Riau Bara Harum - Indonesia
- Mjunction Services Limited - India
- Rio Tinto Coal - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Tata Chemicals Ltd - India
- Renaissance Capital - South Africa
- Maharashtra Electricity Regulatory Commission - India
- Electricity Authority, New Zealand
- GAC Shipping (India) Pvt Ltd
- Lanco Infratech Ltd - India
- PNOC Exploration Corporation - Philippines
- Global Green Power PLC Corporation, Philippines
- GVK Power & Infra Limited - India
- White Energy Company Limited
- CNBM International Corporation - China
- Karbindo Abesyapradhi - Indoneisa
- Straits Asia Resources Limited - Singapore
- Sical Logistics Limited - India
- Agrawal Coal Company - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Semirara Mining Corp, Philippines
- Banpu Public Company Limited - Thailand
- Bhushan Steel Limited - India
- Siam City Cement - Thailand
- Simpson Spence & Young - Indonesia
- Globalindo Alam Lestari - Indonesia
- Meenaskhi Energy Private Limited - India
- Makarim & Taira - Indonesia
- Independent Power Producers Association of India
- Rashtriya Ispat Nigam Limited - India
- Interocean Group of Companies - India
- Minerals Council of Australia
- Power Finance Corporation Ltd., India
- Merrill Lynch Commodities Europe
- The University of Queensland
- Bhatia International Limited - India
- Posco Energy - South Korea
- Economic Council, Georgia
- Bukit Makmur.PT - Indonesia
- ICICI Bank Limited - India
- Orica Australia Pty. Ltd.
- Ministry of Transport, Egypt
- Baramulti Group, Indonesia
- Sinarmas Energy and Mining - Indonesia
- Energy Link Ltd, New Zealand
- GMR Energy Limited - India
- Meralco Power Generation, Philippines
- Central Java Power - Indonesia
- Vedanta Resources Plc - India
- TNB Fuel Sdn Bhd - Malaysia
- Cigading International Bulk Terminal - Indonesia
- Essar Steel Hazira Ltd - India
- Wilmar Investment Holdings
- LBH Netherlands Bv - Netherlands
- Larsen & Toubro Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Indogreen Group - Indonesia
- PTC India Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Carbofer General Trading SA - India
- The State Trading Corporation of India Ltd
- Samtan Co., Ltd - South Korea
- Oldendorff Carriers - Singapore
- Kalimantan Lumbung Energi - Indonesia
- New Zealand Coal & Carbon
- Georgia Ports Authority, United States
- Maheswari Brothers Coal Limited - India
- London Commodity Brokers - England
- Bhoruka Overseas - Indonesia
- Kideco Jaya Agung - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Coal and Oil Company - UAE
- Aboitiz Power Corporation - Philippines
- PowerSource Philippines DevCo
- Star Paper Mills Limited - India
- Coalindo Energy - Indonesia
- Planning Commission, India
- Eastern Coal Council - USA
- Attock Cement Pakistan Limited
- Salva Resources Pvt Ltd - India
- Singapore Mercantile Exchange
- Pipit Mutiara Jaya. PT, Indonesia
- Mercator Lines Limited - India
- Orica Mining Services - Indonesia
- OPG Power Generation Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Indonesian Coal Mining Association
- Offshore Bulk Terminal Pte Ltd, Singapore
- Formosa Plastics Group - Taiwan
- SMG Consultants - Indonesia
- Grasim Industreis Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Alfred C Toepfer International GmbH - Germany
- Indika Energy - Indonesia
- Ministry of Mines - Canada
- Asia Pacific Energy Resources Ventures Inc, Philippines
- McConnell Dowell - Australia
- Thiess Contractors Indonesia
- Indian Oil Corporation Limited
- Ambuja Cements Ltd - India
- Global Business Power Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Medco Energi Mining Internasional
- Ministry of Finance - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Timah Investasi Mineral - Indoneisa
- Tamil Nadu electricity Board
- Kohat Cement Company Ltd. - Pakistan
- San Jose City I Power Corp, Philippines
- Kaltim Prima Coal - Indonesia
- Uttam Galva Steels Limited - India
- Port Waratah Coal Services - Australia
- Gujarat Electricity Regulatory Commission - India
- Commonwealth Bank - Australia
- Jorong Barutama Greston.PT - Indonesia
- Price Waterhouse Coopers - Russia
- Dalmia Cement Bharat India
- IHS Mccloskey Coal Group - USA
- SN Aboitiz Power Inc, Philippines
- Central Electricity Authority - India
- Barasentosa Lestari - Indonesia
- Bharathi Cement Corporation - India
- Romanian Commodities Exchange
- Coastal Gujarat Power Limited - India
- Energy Development Corp, Philippines
- ASAPP Information Group - India
- Bulk Trading Sa - Switzerland
- Directorate Of Revenue Intelligence - India
- Sindya Power Generating Company Private Ltd
- Kumho Petrochemical, South Korea
- Leighton Contractors Pty Ltd - Australia
- Madhucon Powers Ltd - India
- Billiton Holdings Pty Ltd - Australia
- IEA Clean Coal Centre - UK
- Chettinad Cement Corporation Ltd - India
- Latin American Coal - Colombia
- International Coal Ventures Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Bahari Cakrawala Sebuku - Indonesia
- MS Steel International - UAE
- Wood Mackenzie - Singapore
- Borneo Indobara - Indonesia
- Aditya Birla Group - India
- Mercuria Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Cement Manufacturers Association - India
- Iligan Light & Power Inc, Philippines
- Thai Mozambique Logistica
- TeaM Sual Corporation - Philippines
- Kepco SPC Power Corporation, Philippines
- Therma Luzon, Inc, Philippines
- India Bulls Power Limited - India
- Vizag Seaport Private Limited - India
- Bangladesh Power Developement Board
- Ceylon Electricity Board - Sri Lanka
- Bayan Resources Tbk. - Indonesia
- Videocon Industries ltd - India
- Xindia Steels Limited - India
- Parliament of New Zealand
- Pendopo Energi Batubara - Indonesia
- Australian Commodity Traders Exchange
- Toyota Tsusho Corporation, Japan
- Manunggal Multi Energi - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Savvy Resources Ltd - HongKong
- Deloitte Consulting - India
- Semirara Mining and Power Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Global Coal Blending Company Limited - Australia
- PetroVietnam Power Coal Import and Supply Company
- Bank of Tokyo Mitsubishi UFJ Ltd
- Goldman Sachs - Singapore
- Sree Jayajothi Cements Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sojitz Corporation - Japan
- Heidelberg Cement - Germany
- Directorate General of MIneral and Coal - Indonesia
- Malabar Cements Ltd - India
- Petron Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Sarangani Energy Corporation, Philippines
- Siam City Cement PLC, Thailand
- Kobexindo Tractors - Indoneisa
- Parry Sugars Refinery, India
- South Luzon Thermal Energy Corporation
- Chamber of Mines of South Africa
- Trasteel International SA, Italy
- Marubeni Corporation - India
- Bukit Baiduri Energy - Indonesia
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