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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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Friday, 16 November 12
HANDY : IRON ORE WAS QUIET AND RATES FROM INDIA TO CHINA AROUND USD 5500
Handy
The Atlantic was weak with more supply of ships. Rates from Continent/ Feast at USD 9000 and from USG/China at USD 15k. The Pacific market re ...
Wednesday, 14 November 12
AUSTRALIAN NEWCASTLE PORT HAS LOADED 11.14 PERCENT MORE COAL W-W
COALspot.com - Newcastle port in Australia has loaded 3,100,686 MT of thermal and coking coal for week ended – 0700 hours 12 November 2012, Ne ...
Tuesday, 13 November 12
INITIAL COAL PRODUCTION AT KATINGAN RIA ON TRACK FOR 2013 FOLLOWING GRANTING OF 'IN PRINCIPLE' FORESTRY PERMIT, INDONESIA
Realm Resources Ltd (“Realm” or the “Company” - ASX: RRP) has announced that its application to upgrade its exploration fore ...
Tuesday, 13 November 12
BULK PORTS & TECHNOLOGY ASIA 2013
Press Release - TOC Events are pleased to announce a new addition to our global portfolio with the launch of the inaugural Bulk Ports & Technolo ...
Monday, 12 November 12
THE ESTABLISHMENT OF NORTH KALIMANTAN AS A NEW PROVINCE WILL NOT AFFECT THE LOCAL MINING COMPANIES
The government of Indonesia has ensured that the establishment of North Kalimantan as a new province will not affect the local mining companies ...
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- White Energy Company Limited
- Kumho Petrochemical, South Korea
- Sarangani Energy Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Meralco Power Generation, Philippines
- Indian Energy Exchange, India
- Coalindo Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Marubeni Corporation - India
- Gujarat Mineral Development Corp Ltd - India
- Straits Asia Resources Limited - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Aboitiz Power Corporation - Philippines
- Deloitte Consulting - India
- Rio Tinto Coal - Australia
- Goldman Sachs - Singapore
- Ministry of Transport, Egypt
- SN Aboitiz Power Inc, Philippines
- Sakthi Sugars Limited - India
- Orica Mining Services - Indonesia
- Siam City Cement - Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Rashtriya Ispat Nigam Limited - India
- Ambuja Cements Ltd - India
- Edison Trading Spa - Italy
- Globalindo Alam Lestari - Indonesia
- Uttam Galva Steels Limited - India
- Larsen & Toubro Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Planning Commission, India
- LBH Netherlands Bv - Netherlands
- Iligan Light & Power Inc, Philippines
- Thai Mozambique Logistica
- Chettinad Cement Corporation Ltd - India
- Electricity Authority, New Zealand
- TNB Fuel Sdn Bhd - Malaysia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PTC India Limited - India
- Trasteel International SA, Italy
- Antam Resourcindo - Indonesia
- London Commodity Brokers - England
- PowerSource Philippines DevCo
- Bangladesh Power Developement Board
- Bank of Tokyo Mitsubishi UFJ Ltd
- Salva Resources Pvt Ltd - India
- Singapore Mercantile Exchange
- Price Waterhouse Coopers - Russia
- Central Java Power - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Alfred C Toepfer International GmbH - Germany
- VISA Power Limited - India
- Samtan Co., Ltd - South Korea
- Aditya Birla Group - India
- ASAPP Information Group - India
- Australian Commodity Traders Exchange
- Malabar Cements Ltd - India
- Posco Energy - South Korea
- Grasim Industreis Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Heidelberg Cement - Germany
- Oldendorff Carriers - Singapore
- Bulk Trading Sa - Switzerland
- Merrill Lynch Commodities Europe
- Standard Chartered Bank - UAE
- Bukit Asam (Persero) Tbk - Indonesia
- Romanian Commodities Exchange
- Chamber of Mines of South Africa
- MS Steel International - UAE
- Bahari Cakrawala Sebuku - Indonesia
- Mercator Lines Limited - India
- Africa Commodities Group - South Africa
- Thiess Contractors Indonesia
- Indo Tambangraya Megah - Indonesia
- Sojitz Corporation - Japan
- Leighton Contractors Pty Ltd - Australia
- Makarim & Taira - Indonesia
- Sindya Power Generating Company Private Ltd
- Cement Manufacturers Association - India
- Parliament of New Zealand
- Madhucon Powers Ltd - India
- Georgia Ports Authority, United States
- Australian Coal Association
- Vizag Seaport Private Limited - India
- Star Paper Mills Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Karaikal Port Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Tamil Nadu electricity Board
- Baramulti Group, Indonesia
- PetroVietnam Power Coal Import and Supply Company
- CNBM International Corporation - China
- Kideco Jaya Agung - Indonesia
- IEA Clean Coal Centre - UK
- The University of Queensland
- Renaissance Capital - South Africa
- Minerals Council of Australia
- Directorate Of Revenue Intelligence - India
- Bharathi Cement Corporation - India
- Manunggal Multi Energi - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- International Coal Ventures Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Binh Thuan Hamico - Vietnam
- Vedanta Resources Plc - India
- Riau Bara Harum - Indonesia
- Siam City Cement PLC, Thailand
- Neyveli Lignite Corporation Ltd, - India
- Bayan Resources Tbk. - Indonesia
- Carbofer General Trading SA - India
- Gujarat Sidhee Cement - India
- Jorong Barutama Greston.PT - Indonesia
- Maheswari Brothers Coal Limited - India
- Bhoruka Overseas - Indonesia
- IHS Mccloskey Coal Group - USA
- Coastal Gujarat Power Limited - India
- Indian Oil Corporation Limited
- Ceylon Electricity Board - Sri Lanka
- Economic Council, Georgia
- Borneo Indobara - Indonesia
- PNOC Exploration Corporation - Philippines
- Bhatia International Limited - India
- Electricity Generating Authority of Thailand
- AsiaOL BioFuels Corp., Philippines
- Ministry of Mines - Canada
- Formosa Plastics Group - Taiwan
- Metalloyd Limited - United Kingdom
- McConnell Dowell - Australia
- Jindal Steel & Power Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- The State Trading Corporation of India Ltd
- Central Electricity Authority - India
- Mjunction Services Limited - India
- Krishnapatnam Port Company Ltd. - India
- Pendopo Energi Batubara - Indonesia
- Toyota Tsusho Corporation, Japan
- Kobexindo Tractors - Indoneisa
- Kaltim Prima Coal - Indonesia
- CIMB Investment Bank - Malaysia
- Bukit Baiduri Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Ind-Barath Power Infra Limited - India
- European Bulk Services B.V. - Netherlands
- Attock Cement Pakistan Limited
- Petrochimia International Co. Ltd.- Taiwan
- Savvy Resources Ltd - HongKong
- Asmin Koalindo Tuhup - Indonesia
- New Zealand Coal & Carbon
- Wood Mackenzie - Singapore
- Essar Steel Hazira Ltd - India
- Semirara Mining Corp, Philippines
- GVK Power & Infra Limited - India
- ICICI Bank Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Anglo American - United Kingdom
- India Bulls Power Limited - India
- GAC Shipping (India) Pvt Ltd
- Banpu Public Company Limited - Thailand
- SMC Global Power, Philippines
- Tata Chemicals Ltd - India
- Barasentosa Lestari - Indonesia
- Kartika Selabumi Mining - Indonesia
- Bhushan Steel Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Global Business Power Corporation, Philippines
- Ministry of Finance - Indonesia
- SMG Consultants - Indonesia
- Intertek Mineral Services - Indonesia
- Xindia Steels Limited - India
- Indogreen Group - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Agrawal Coal Company - India
- Cigading International Bulk Terminal - Indonesia
- GMR Energy Limited - India
- Sree Jayajothi Cements Limited - India
- Global Green Power PLC Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Miang Besar Coal Terminal - Indonesia
- Lanco Infratech Ltd - India
- South Luzon Thermal Energy Corporation
- Timah Investasi Mineral - Indoneisa
- Sical Logistics Limited - India
- Energy Link Ltd, New Zealand
- Interocean Group of Companies - India
- Mercuria Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Indonesian Coal Mining Association
- Kapuas Tunggal Persada - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Orica Australia Pty. Ltd.
- TeaM Sual Corporation - Philippines
- Power Finance Corporation Ltd., India
- Independent Power Producers Association of India
- Kepco SPC Power Corporation, Philippines
- Medco Energi Mining Internasional
- Latin American Coal - Colombia
- The Treasury - Australian Government
- Dalmia Cement Bharat India
- Commonwealth Bank - Australia
- Videocon Industries ltd - India
- Wilmar Investment Holdings
- OPG Power Generation Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Eastern Coal Council - USA
- Energy Development Corp, Philippines
- San Jose City I Power Corp, Philippines
- Parry Sugars Refinery, India
- Mintek Dendrill Indonesia
- Indika Energy - Indonesia
- Port Waratah Coal Services - Australia
- Jaiprakash Power Ventures ltd
- Eastern Energy - Thailand
- Petron Corporation, Philippines
- Coal and Oil Company - UAE
- Therma Luzon, Inc, Philippines
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