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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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Sunday, 04 November 12
SUB-BIT INDONESIA COAL SWAPS FOR DECEMBER' 12 DELIVERY FALLS TO $ 59.78
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for December 2012 delivery fell -1.02 percent on WoW but gained 0.08 percent on D-D on Friday, 2 ...
Saturday, 03 November 12
THE SUPRAMAX FREIGHT EXPECTED TO BE SOFT NEXT WEEK - VISTAAR
COALspot.com - This week the market remained soft with all the sectors soft.
The BDI and was down by 6 pct closing at 986 points. The cape index ...
Saturday, 03 November 12
DEMOLITION IS THE KEY FOR DRY BULK SHIPPING'S RECOVERY SAYS SHIPBROKER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
With the number of new building deliveries so far in 2012 already having surpassed the total of 2011, it's more than clear that the dry bulk sector ...
Thursday, 01 November 12
INDONESIA HAS REVISED DOWN ITS 2012 DOMESTIC MARKET OBLIGATION REQUIREMENT FOR COAL
COALspot.com - Minister of Energy and Mineral Resources of Indonesia has revised down its 2012 domestic market obligation requirement due to lower d ...
Thursday, 01 November 12
SOUTH KOREAN POWER UTILITY EWP TO PURCHASE 670,000 MT OF COAL FOR JAN - FEB 2013 DELIVERY
COALspot.com: Korea East-West Power Co. Ltd. on behalf of Korea South-East Power Co. Ltd., Korea Southern Power Co. Ltd., Korea Midland Power Co. Lt ...
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- ICICI Bank Limited - India
- Salva Resources Pvt Ltd - India
- Planning Commission, India
- Dalmia Cement Bharat India
- Bukit Asam (Persero) Tbk - Indonesia
- Therma Luzon, Inc, Philippines
- Tamil Nadu electricity Board
- Port Waratah Coal Services - Australia
- New Zealand Coal & Carbon
- Ind-Barath Power Infra Limited - India
- Directorate Of Revenue Intelligence - India
- Semirara Mining and Power Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- McConnell Dowell - Australia
- Kalimantan Lumbung Energi - Indonesia
- Goldman Sachs - Singapore
- Baramulti Group, Indonesia
- India Bulls Power Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Borneo Indobara - Indonesia
- Georgia Ports Authority, United States
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Australian Commodity Traders Exchange
- The Treasury - Australian Government
- Indogreen Group - Indonesia
- Indian Energy Exchange, India
- LBH Netherlands Bv - Netherlands
- Deloitte Consulting - India
- Latin American Coal - Colombia
- Neyveli Lignite Corporation Ltd, - India
- Indian Oil Corporation Limited
- IEA Clean Coal Centre - UK
- Edison Trading Spa - Italy
- Bhushan Steel Limited - India
- Samtan Co., Ltd - South Korea
- Heidelberg Cement - Germany
- Global Business Power Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Posco Energy - South Korea
- Billiton Holdings Pty Ltd - Australia
- OPG Power Generation Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Bukit Makmur.PT - Indonesia
- Globalindo Alam Lestari - Indonesia
- Singapore Mercantile Exchange
- Renaissance Capital - South Africa
- Meenaskhi Energy Private Limited - India
- Altura Mining Limited, Indonesia
- SN Aboitiz Power Inc, Philippines
- Ministry of Mines - Canada
- Coastal Gujarat Power Limited - India
- Madhucon Powers Ltd - India
- Grasim Industreis Ltd - India
- TeaM Sual Corporation - Philippines
- The University of Queensland
- Thiess Contractors Indonesia
- Australian Coal Association
- Vedanta Resources Plc - India
- Petron Corporation, Philippines
- Mercator Lines Limited - India
- Indika Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- CNBM International Corporation - China
- Chamber of Mines of South Africa
- Mercuria Energy - Indonesia
- Commonwealth Bank - Australia
- Asmin Koalindo Tuhup - Indonesia
- PNOC Exploration Corporation - Philippines
- Intertek Mineral Services - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mintek Dendrill Indonesia
- Kapuas Tunggal Persada - Indonesia
- Banpu Public Company Limited - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Simpson Spence & Young - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Power Finance Corporation Ltd., India
- Sakthi Sugars Limited - India
- SMC Global Power, Philippines
- Tata Chemicals Ltd - India
- Straits Asia Resources Limited - Singapore
- GVK Power & Infra Limited - India
- Ministry of Transport, Egypt
- Interocean Group of Companies - India
- Agrawal Coal Company - India
- Kobexindo Tractors - Indoneisa
- Makarim & Taira - Indonesia
- Price Waterhouse Coopers - Russia
- IHS Mccloskey Coal Group - USA
- Oldendorff Carriers - Singapore
- Chettinad Cement Corporation Ltd - India
- Coalindo Energy - Indonesia
- Marubeni Corporation - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Essar Steel Hazira Ltd - India
- Central Electricity Authority - India
- TNB Fuel Sdn Bhd - Malaysia
- Cement Manufacturers Association - India
- Rashtriya Ispat Nigam Limited - India
- Energy Link Ltd, New Zealand
- Bhatia International Limited - India
- Binh Thuan Hamico - Vietnam
- Timah Investasi Mineral - Indoneisa
- Africa Commodities Group - South Africa
- Minerals Council of Australia
- London Commodity Brokers - England
- Holcim Trading Pte Ltd - Singapore
- Maheswari Brothers Coal Limited - India
- Pendopo Energi Batubara - Indonesia
- Xindia Steels Limited - India
- Sarangani Energy Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Anglo American - United Kingdom
- Bhoruka Overseas - Indonesia
- Uttam Galva Steels Limited - India
- AsiaOL BioFuels Corp., Philippines
- Meralco Power Generation, Philippines
- Sree Jayajothi Cements Limited - India
- Economic Council, Georgia
- Electricity Authority, New Zealand
- Malabar Cements Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Bharathi Cement Corporation - India
- Merrill Lynch Commodities Europe
- Siam City Cement - Thailand
- Kumho Petrochemical, South Korea
- Star Paper Mills Limited - India
- Romanian Commodities Exchange
- Wilmar Investment Holdings
- Ambuja Cements Ltd - India
- Aboitiz Power Corporation - Philippines
- Jaiprakash Power Ventures ltd
- Sindya Power Generating Company Private Ltd
- The State Trading Corporation of India Ltd
- Sical Logistics Limited - India
- Attock Cement Pakistan Limited
- Aditya Birla Group - India
- GMR Energy Limited - India
- Bayan Resources Tbk. - Indonesia
- Rio Tinto Coal - Australia
- Gujarat Sidhee Cement - India
- Independent Power Producers Association of India
- Sinarmas Energy and Mining - Indonesia
- Ceylon Electricity Board - Sri Lanka
- CIMB Investment Bank - Malaysia
- Karbindo Abesyapradhi - Indoneisa
- Trasteel International SA, Italy
- PowerSource Philippines DevCo
- ASAPP Information Group - India
- GAC Shipping (India) Pvt Ltd
- MS Steel International - UAE
- Manunggal Multi Energi - Indonesia
- Orica Australia Pty. Ltd.
- Kohat Cement Company Ltd. - Pakistan
- Jorong Barutama Greston.PT - Indonesia
- Karaikal Port Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Orica Mining Services - Indonesia
- Videocon Industries ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Ministry of Finance - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Carbofer General Trading SA - India
- Central Java Power - Indonesia
- SMG Consultants - Indonesia
- San Jose City I Power Corp, Philippines
- Indonesian Coal Mining Association
- Leighton Contractors Pty Ltd - Australia
- Electricity Generating Authority of Thailand
- Cigading International Bulk Terminal - Indonesia
- Savvy Resources Ltd - HongKong
- Parry Sugars Refinery, India
- PTC India Limited - India
- Mjunction Services Limited - India
- Energy Development Corp, Philippines
- Eastern Energy - Thailand
- Bukit Baiduri Energy - Indonesia
- Coal and Oil Company - UAE
- Indo Tambangraya Megah - Indonesia
- Global Coal Blending Company Limited - Australia
- Standard Chartered Bank - UAE
- Sojitz Corporation - Japan
- Alfred C Toepfer International GmbH - Germany
- Antam Resourcindo - Indonesia
- Formosa Plastics Group - Taiwan
- Wood Mackenzie - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Bulk Trading Sa - Switzerland
- Miang Besar Coal Terminal - Indonesia
- VISA Power Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- White Energy Company Limited
- Lanco Infratech Ltd - India
- Riau Bara Harum - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- European Bulk Services B.V. - Netherlands
- Metalloyd Limited - United Kingdom
- Semirara Mining Corp, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Global Green Power PLC Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Parliament of New Zealand
- Eastern Coal Council - USA
- Larsen & Toubro Limited - India
- South Luzon Thermal Energy Corporation
- Siam City Cement PLC, Thailand
- Toyota Tsusho Corporation, Japan
- Gujarat Electricity Regulatory Commission - India
- PetroVietnam Power Coal Import and Supply Company
- Thai Mozambique Logistica
- Medco Energi Mining Internasional
- Bangladesh Power Developement Board
- Vizag Seaport Private Limited - India
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