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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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Monday, 19 November 12
IHS MCCLOSKEY ASIA PACIFIC COAL OUTLOOK CONFERENCE 2012
With the current global oversupply of thermal coal showing no signs of abating and spot prices falling to a two-year low, concerns are growing that ...
Sunday, 18 November 12
INDONESIAN SUB BITUMINOUS COAL SWAPS FOR JANUARY 2013 DELIVERY GAINS 1.29 PERCENT WOW
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for January 2013 delivery gains 1.29 percent WoW and 0.25 percent DoD on Friday, 16 Novembe ...
Saturday, 17 November 12
THE SUPRAMAX FREIGHT RATES FROM INDONESIA TO INDIA ARE EXPECTED TO BE UP NEXT WEEK - VISTAAR
COALspot.com - This week market sentiments ended positive with all the segments ending higher except for handy size which was almost at same levels ...
Saturday, 17 November 12
RECORD DEMOLITION ACTIVITY SEEKS TO CURB TONNAGE OVERSUPPLY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
This year will prove to be another record-breaker in terms of scrapping of older vessels across all shipping segments, as the equally feverish pace ...
Friday, 16 November 12
SHIP OWNERS KEEP ON INVESTING IN SECOND HAND VESSELS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Priced attractively, modern and with prompt delivery dates, second hand vessels are proving to be rather popular among cash-rich ship owners these d ...
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- Sindya Power Generating Company Private Ltd
- Toyota Tsusho Corporation, Japan
- Barasentosa Lestari - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Energy Link Ltd, New Zealand
- Central Java Power - Indonesia
- Bulk Trading Sa - Switzerland
- Kartika Selabumi Mining - Indonesia
- Eastern Coal Council - USA
- Krishnapatnam Port Company Ltd. - India
- Edison Trading Spa - Italy
- ASAPP Information Group - India
- Globalindo Alam Lestari - Indonesia
- PNOC Exploration Corporation - Philippines
- London Commodity Brokers - England
- Ministry of Transport, Egypt
- Uttam Galva Steels Limited - India
- Jaiprakash Power Ventures ltd
- Gujarat Mineral Development Corp Ltd - India
- Price Waterhouse Coopers - Russia
- Deloitte Consulting - India
- Borneo Indobara - Indonesia
- New Zealand Coal & Carbon
- Dalmia Cement Bharat India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Electricity Generating Authority of Thailand
- Sakthi Sugars Limited - India
- Thiess Contractors Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- PetroVietnam Power Coal Import and Supply Company
- Attock Cement Pakistan Limited
- Planning Commission, India
- Vizag Seaport Private Limited - India
- Orica Mining Services - Indonesia
- Bayan Resources Tbk. - Indonesia
- McConnell Dowell - Australia
- IEA Clean Coal Centre - UK
- Pipit Mutiara Jaya. PT, Indonesia
- San Jose City I Power Corp, Philippines
- Wilmar Investment Holdings
- Bukit Baiduri Energy - Indonesia
- Independent Power Producers Association of India
- Bahari Cakrawala Sebuku - Indonesia
- Oldendorff Carriers - Singapore
- Eastern Energy - Thailand
- Iligan Light & Power Inc, Philippines
- SMG Consultants - Indonesia
- Minerals Council of Australia
- Anglo American - United Kingdom
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bharathi Cement Corporation - India
- Madhucon Powers Ltd - India
- Altura Mining Limited, Indonesia
- SN Aboitiz Power Inc, Philippines
- Interocean Group of Companies - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Australian Coal Association
- Sical Logistics Limited - India
- Mercuria Energy - Indonesia
- Renaissance Capital - South Africa
- Riau Bara Harum - Indonesia
- Mintek Dendrill Indonesia
- White Energy Company Limited
- Standard Chartered Bank - UAE
- Georgia Ports Authority, United States
- Kumho Petrochemical, South Korea
- GAC Shipping (India) Pvt Ltd
- Jorong Barutama Greston.PT - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Bangladesh Power Developement Board
- Economic Council, Georgia
- Asmin Koalindo Tuhup - Indonesia
- Coal and Oil Company - UAE
- Aboitiz Power Corporation - Philippines
- Siam City Cement PLC, Thailand
- Holcim Trading Pte Ltd - Singapore
- Agrawal Coal Company - India
- Directorate Of Revenue Intelligence - India
- Miang Besar Coal Terminal - Indonesia
- Indogreen Group - Indonesia
- Sojitz Corporation - Japan
- Meralco Power Generation, Philippines
- Meenaskhi Energy Private Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Petrochimia International Co. Ltd.- Taiwan
- GN Power Mariveles Coal Plant, Philippines
- Merrill Lynch Commodities Europe
- CIMB Investment Bank - Malaysia
- Salva Resources Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Makarim & Taira - Indonesia
- Carbofer General Trading SA - India
- Power Finance Corporation Ltd., India
- Maharashtra Electricity Regulatory Commission - India
- Star Paper Mills Limited - India
- Posco Energy - South Korea
- SMC Global Power, Philippines
- Videocon Industries ltd - India
- Straits Asia Resources Limited - Singapore
- Semirara Mining and Power Corporation, Philippines
- Bhatia International Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Xindia Steels Limited - India
- GVK Power & Infra Limited - India
- Semirara Mining Corp, Philippines
- Maheswari Brothers Coal Limited - India
- Vedanta Resources Plc - India
- Kobexindo Tractors - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Mines - Canada
- Energy Development Corp, Philippines
- Thai Mozambique Logistica
- Bhushan Steel Limited - India
- Bukit Makmur.PT - Indonesia
- IHS Mccloskey Coal Group - USA
- Antam Resourcindo - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- MS Steel International - UAE
- Kaltim Prima Coal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Grasim Industreis Ltd - India
- GMR Energy Limited - India
- Commonwealth Bank - Australia
- Metalloyd Limited - United Kingdom
- Chamber of Mines of South Africa
- Mjunction Services Limited - India
- Simpson Spence & Young - Indonesia
- CNBM International Corporation - China
- Electricity Authority, New Zealand
- Siam City Cement - Thailand
- Petron Corporation, Philippines
- Heidelberg Cement - Germany
- AsiaOL BioFuels Corp., Philippines
- Goldman Sachs - Singapore
- Gujarat Electricity Regulatory Commission - India
- The State Trading Corporation of India Ltd
- Kohat Cement Company Ltd. - Pakistan
- Parry Sugars Refinery, India
- Sarangani Energy Corporation, Philippines
- Gujarat Sidhee Cement - India
- Essar Steel Hazira Ltd - India
- Global Business Power Corporation, Philippines
- Rio Tinto Coal - Australia
- Pendopo Energi Batubara - Indonesia
- ICICI Bank Limited - India
- Indian Oil Corporation Limited
- Mercator Lines Limited - India
- Sinarmas Energy and Mining - Indonesia
- Sree Jayajothi Cements Limited - India
- Trasteel International SA, Italy
- Romanian Commodities Exchange
- Kapuas Tunggal Persada - Indonesia
- TeaM Sual Corporation - Philippines
- Central Electricity Authority - India
- Africa Commodities Group - South Africa
- European Bulk Services B.V. - Netherlands
- Marubeni Corporation - India
- Medco Energi Mining Internasional
- Ind-Barath Power Infra Limited - India
- Aditya Birla Group - India
- Australian Commodity Traders Exchange
- Tamil Nadu electricity Board
- Jindal Steel & Power Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Larsen & Toubro Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Karaikal Port Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Chettinad Cement Corporation Ltd - India
- Lanco Infratech Ltd - India
- Bhoruka Overseas - Indonesia
- Baramulti Group, Indonesia
- Indonesian Coal Mining Association
- South Luzon Thermal Energy Corporation
- PowerSource Philippines DevCo
- Coalindo Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Tata Chemicals Ltd - India
- Parliament of New Zealand
- The Treasury - Australian Government
- Timah Investasi Mineral - Indoneisa
- Port Waratah Coal Services - Australia
- Ministry of Finance - Indonesia
- Ambuja Cements Ltd - India
- International Coal Ventures Pvt Ltd - India
- Indian Energy Exchange, India
- Leighton Contractors Pty Ltd - Australia
- Cement Manufacturers Association - India
- Malabar Cements Ltd - India
- Indika Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Orica Australia Pty. Ltd.
- Karbindo Abesyapradhi - Indoneisa
- Manunggal Multi Energi - Indonesia
- Singapore Mercantile Exchange
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- OPG Power Generation Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Wood Mackenzie - Singapore
- Intertek Mineral Services - Indonesia
- Banpu Public Company Limited - Thailand
- The University of Queensland
- PTC India Limited - India
- VISA Power Limited - India
- Samtan Co., Ltd - South Korea
- Savvy Resources Ltd - HongKong
- India Bulls Power Limited - India
- Rashtriya Ispat Nigam Limited - India
- Indo Tambangraya Megah - Indonesia
- Latin American Coal - Colombia
- Binh Thuan Hamico - Vietnam
- Global Green Power PLC Corporation, Philippines
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