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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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Wednesday, 12 December 12
69.23 PERCENT OF END-USERS ARE BELIEVE, COAL PRICES ARE IN UPWARD TREND
COALspot.com - The Indonesian government’s declared coal reference price for December’ 12 has gained US cents 31 per MT M-o- ...
Wednesday, 12 December 12
CAPESIZE FREIGHT RATES TO RANGE BETWEEN $9,000 - 16,000/DAY IN THE COMING WEEKS SAYS BIMCO - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
In its regular update on the dry bulk market, BIMCO forecasted yesterday, that Capesize time-charter rates are expected to stay elevated in the foll ...
Tuesday, 11 December 12
NEWCASTLE PORT IN AUSTRALIA HAS LOADED 2,720,205 MT OF COAL W/E 10 DECEMBER 2012
COALspot.com - Newcastle port in Australia has loaded 2,720,205 MT of thermal and coking coal for week ended 0700 hours 10 December 2012, Newc ...
Sunday, 09 December 12
COAL SWAPS HAVE LOST DIRECTION DUE TO LACK OF ASIAN INTEREST
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for average Q1’ 2013 delivery gained 2.43 percent M-M but lost WoW by 0.54 percent and 0.62 ...
Sunday, 09 December 12
LOW DEMAND PUSHES CHARTER RATES TOWARDS DOWN - VISTAAR
COALspot.com - The freight market has softened and BDI, The Baltic Dry Index, a measure of shipping costs for dry bulk goods, plunged below 10 ...
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- Ceylon Electricity Board - Sri Lanka
- Indian Oil Corporation Limited
- Baramulti Group, Indonesia
- Kobexindo Tractors - Indoneisa
- Bahari Cakrawala Sebuku - Indonesia
- Commonwealth Bank - Australia
- ICICI Bank Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Xindia Steels Limited - India
- Electricity Authority, New Zealand
- Orica Australia Pty. Ltd.
- Bukit Makmur.PT - Indonesia
- SN Aboitiz Power Inc, Philippines
- Eastern Energy - Thailand
- Coalindo Energy - Indonesia
- Orica Mining Services - Indonesia
- Aboitiz Power Corporation - Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Coal and Oil Company - UAE
- Central Java Power - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Vizag Seaport Private Limited - India
- Goldman Sachs - Singapore
- Therma Luzon, Inc, Philippines
- Energy Development Corp, Philippines
- Oldendorff Carriers - Singapore
- CNBM International Corporation - China
- Thiess Contractors Indonesia
- The State Trading Corporation of India Ltd
- Anglo American - United Kingdom
- Mintek Dendrill Indonesia
- Indian Energy Exchange, India
- Agrawal Coal Company - India
- PowerSource Philippines DevCo
- White Energy Company Limited
- Gujarat Sidhee Cement - India
- Mercuria Energy - Indonesia
- GVK Power & Infra Limited - India
- IEA Clean Coal Centre - UK
- SMC Global Power, Philippines
- TeaM Sual Corporation - Philippines
- Timah Investasi Mineral - Indoneisa
- Indogreen Group - Indonesia
- Indo Tambangraya Megah - Indonesia
- Energy Link Ltd, New Zealand
- Romanian Commodities Exchange
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Edison Trading Spa - Italy
- Economic Council, Georgia
- Kohat Cement Company Ltd. - Pakistan
- Formosa Plastics Group - Taiwan
- Uttam Galva Steels Limited - India
- Alfred C Toepfer International GmbH - Germany
- Chamber of Mines of South Africa
- Iligan Light & Power Inc, Philippines
- Carbofer General Trading SA - India
- Directorate General of MIneral and Coal - Indonesia
- Cement Manufacturers Association - India
- Meenaskhi Energy Private Limited - India
- VISA Power Limited - India
- Toyota Tsusho Corporation, Japan
- Bayan Resources Tbk. - Indonesia
- Siam City Cement - Thailand
- McConnell Dowell - Australia
- Star Paper Mills Limited - India
- Ambuja Cements Ltd - India
- Kumho Petrochemical, South Korea
- Tata Chemicals Ltd - India
- Altura Mining Limited, Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Global Business Power Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Maheswari Brothers Coal Limited - India
- Eastern Coal Council - USA
- Rashtriya Ispat Nigam Limited - India
- Heidelberg Cement - Germany
- Chettinad Cement Corporation Ltd - India
- Karaikal Port Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Madhucon Powers Ltd - India
- Samtan Co., Ltd - South Korea
- Leighton Contractors Pty Ltd - Australia
- Kideco Jaya Agung - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Savvy Resources Ltd - HongKong
- Billiton Holdings Pty Ltd - Australia
- Videocon Industries ltd - India
- Semirara Mining and Power Corporation, Philippines
- Interocean Group of Companies - India
- PTC India Limited - India
- CIMB Investment Bank - Malaysia
- Siam City Cement PLC, Thailand
- Borneo Indobara - Indonesia
- Price Waterhouse Coopers - Russia
- Krishnapatnam Port Company Ltd. - India
- MS Steel International - UAE
- OPG Power Generation Pvt Ltd - India
- SMG Consultants - Indonesia
- Malabar Cements Ltd - India
- Latin American Coal - Colombia
- Neyveli Lignite Corporation Ltd, - India
- Marubeni Corporation - India
- Bhushan Steel Limited - India
- Sical Logistics Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Coastal Gujarat Power Limited - India
- Ministry of Transport, Egypt
- Makarim & Taira - Indonesia
- Tamil Nadu electricity Board
- Kapuas Tunggal Persada - Indonesia
- Grasim Industreis Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- The Treasury - Australian Government
- The University of Queensland
- Bhatia International Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- New Zealand Coal & Carbon
- Posco Energy - South Korea
- Pipit Mutiara Jaya. PT, Indonesia
- Semirara Mining Corp, Philippines
- Australian Commodity Traders Exchange
- Central Electricity Authority - India
- PNOC Exploration Corporation - Philippines
- Lanco Infratech Ltd - India
- Power Finance Corporation Ltd., India
- Simpson Spence & Young - Indonesia
- Global Green Power PLC Corporation, Philippines
- Sojitz Corporation - Japan
- Kartika Selabumi Mining - Indonesia
- Sindya Power Generating Company Private Ltd
- Holcim Trading Pte Ltd - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Globalindo Alam Lestari - Indonesia
- Vedanta Resources Plc - India
- Deloitte Consulting - India
- Sree Jayajothi Cements Limited - India
- Jindal Steel & Power Ltd - India
- Aditya Birla Group - India
- Standard Chartered Bank - UAE
- Bulk Trading Sa - Switzerland
- Port Waratah Coal Services - Australia
- Sarangani Energy Corporation, Philippines
- Meralco Power Generation, Philippines
- Indika Energy - Indonesia
- Renaissance Capital - South Africa
- Jorong Barutama Greston.PT - Indonesia
- Straits Asia Resources Limited - Singapore
- Larsen & Toubro Limited - India
- LBH Netherlands Bv - Netherlands
- Wood Mackenzie - Singapore
- AsiaOL BioFuels Corp., Philippines
- Gujarat Electricity Regulatory Commission - India
- European Bulk Services B.V. - Netherlands
- Asmin Koalindo Tuhup - Indonesia
- Intertek Mineral Services - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- South Luzon Thermal Energy Corporation
- Kaltim Prima Coal - Indonesia
- Georgia Ports Authority, United States
- Salva Resources Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Sakthi Sugars Limited - India
- Bangladesh Power Developement Board
- Metalloyd Limited - United Kingdom
- Ministry of Finance - Indonesia
- Pendopo Energi Batubara - Indonesia
- Petron Corporation, Philippines
- Rio Tinto Coal - Australia
- Africa Commodities Group - South Africa
- Australian Coal Association
- Wilmar Investment Holdings
- Bhoruka Overseas - Indonesia
- GMR Energy Limited - India
- Indonesian Coal Mining Association
- IHS Mccloskey Coal Group - USA
- GN Power Mariveles Coal Plant, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Manunggal Multi Energi - Indonesia
- ASAPP Information Group - India
- Thai Mozambique Logistica
- Jaiprakash Power Ventures ltd
- Antam Resourcindo - Indonesia
- Parliament of New Zealand
- Essar Steel Hazira Ltd - India
- Medco Energi Mining Internasional
- Electricity Generating Authority of Thailand
- Merrill Lynch Commodities Europe
- Barasentosa Lestari - Indonesia
- Ministry of Mines - Canada
- Kepco SPC Power Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Cigading International Bulk Terminal - Indonesia
- London Commodity Brokers - England
- International Coal Ventures Pvt Ltd - India
- Attock Cement Pakistan Limited
- Mjunction Services Limited - India
- Dalmia Cement Bharat India
- Sinarmas Energy and Mining - Indonesia
- Global Coal Blending Company Limited - Australia
- Binh Thuan Hamico - Vietnam
- GAC Shipping (India) Pvt Ltd
- Singapore Mercantile Exchange
- Independent Power Producers Association of India
- Minerals Council of Australia
- Riau Bara Harum - Indonesia
- Mercator Lines Limited - India
- Bharathi Cement Corporation - India
- Parry Sugars Refinery, India
- Bukit Baiduri Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Trasteel International SA, Italy
- Planning Commission, India
- India Bulls Power Limited - India
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