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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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Tuesday, 23 October 12
INDONESIA SETS DMO FOR NEXT YEAR
COALspot.com - The Indonesian government has declared the quantity of coal to be supplied to domestic market in 2013 recently under DMO regulation. ...
Sunday, 21 October 12
BUMA HAS PRODUCED 25.0 MILLION TONS OF COAL YEAR TO DATE
COALspot.com - PT Delta Dunia Makmur Tbk., has removed 33.2 million bcm* (+5.5% YoY) of Overburden in September 2012 totaled while coal produc ...
Saturday, 20 October 12
SUPRAMAX FREIGHT EXPECTED TO BE FLAT - VISTAAR
COALspot.com - The shipping market continued to be quite active with quite lot of cargoes fixed for in the cape and panamax sector.
The BDI was ...
Thursday, 18 October 12
INDO-INDIA, LARGE ECO SUPRA FIXED AT USD 11000 - FEARNLEYS AS
Handy
Atlantic market remains quiet due to lack of cargoes and more supply of ships. Rates from Cont to East Med were around USD 14k and Black Sea ...
Tuesday, 16 October 12
DRY BULK FREIGHT RATES COULD IMPROVE ON CHINESE STIMULUS AND WINTER CARGO DEMAND SAYS BIMCO - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
BIMCO has given out its forecast for the next six weeks, in terms of freight rates for dry bulk carriers. According to them, Capesize TC Average rat ...
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- Minerals Council of Australia
- LBH Netherlands Bv - Netherlands
- Riau Bara Harum - Indonesia
- Tata Chemicals Ltd - India
- Banpu Public Company Limited - Thailand
- Bhoruka Overseas - Indonesia
- Altura Mining Limited, Indonesia
- Electricity Generating Authority of Thailand
- Wood Mackenzie - Singapore
- Power Finance Corporation Ltd., India
- Standard Chartered Bank - UAE
- Central Electricity Authority - India
- Timah Investasi Mineral - Indoneisa
- Dalmia Cement Bharat India
- Chettinad Cement Corporation Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Medco Energi Mining Internasional
- Bukit Baiduri Energy - Indonesia
- Economic Council, Georgia
- Mercuria Energy - Indonesia
- Baramulti Group, Indonesia
- Meralco Power Generation, Philippines
- Parry Sugars Refinery, India
- Trasteel International SA, Italy
- Bharathi Cement Corporation - India
- Edison Trading Spa - Italy
- Leighton Contractors Pty Ltd - Australia
- Thai Mozambique Logistica
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Cement Manufacturers Association - India
- Karbindo Abesyapradhi - Indoneisa
- The State Trading Corporation of India Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Lanco Infratech Ltd - India
- Siam City Cement - Thailand
- Bayan Resources Tbk. - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Rio Tinto Coal - Australia
- Karaikal Port Pvt Ltd - India
- Singapore Mercantile Exchange
- Neyveli Lignite Corporation Ltd, - India
- Agrawal Coal Company - India
- ICICI Bank Limited - India
- Commonwealth Bank - Australia
- PTC India Limited - India
- Globalindo Alam Lestari - Indonesia
- Ministry of Transport, Egypt
- Coal and Oil Company - UAE
- European Bulk Services B.V. - Netherlands
- Mercator Lines Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Global Green Power PLC Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Australian Commodity Traders Exchange
- PowerSource Philippines DevCo
- Global Coal Blending Company Limited - Australia
- IEA Clean Coal Centre - UK
- Coalindo Energy - Indonesia
- Larsen & Toubro Limited - India
- Coastal Gujarat Power Limited - India
- Binh Thuan Hamico - Vietnam
- Chamber of Mines of South Africa
- Sinarmas Energy and Mining - Indonesia
- Siam City Cement PLC, Thailand
- ASAPP Information Group - India
- Carbofer General Trading SA - India
- Jorong Barutama Greston.PT - Indonesia
- Xindia Steels Limited - India
- Miang Besar Coal Terminal - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Sindya Power Generating Company Private Ltd
- SMC Global Power, Philippines
- Jaiprakash Power Ventures ltd
- Toyota Tsusho Corporation, Japan
- Gujarat Electricity Regulatory Commission - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kumho Petrochemical, South Korea
- Antam Resourcindo - Indonesia
- Attock Cement Pakistan Limited
- Mintek Dendrill Indonesia
- Simpson Spence & Young - Indonesia
- Semirara Mining Corp, Philippines
- Ceylon Electricity Board - Sri Lanka
- Salva Resources Pvt Ltd - India
- MS Steel International - UAE
- Australian Coal Association
- Kalimantan Lumbung Energi - Indonesia
- Indogreen Group - Indonesia
- Bukit Makmur.PT - Indonesia
- Marubeni Corporation - India
- Uttam Galva Steels Limited - India
- Vizag Seaport Private Limited - India
- Sree Jayajothi Cements Limited - India
- GAC Shipping (India) Pvt Ltd
- Aditya Birla Group - India
- Indonesian Coal Mining Association
- Videocon Industries ltd - India
- Thiess Contractors Indonesia
- Meenaskhi Energy Private Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PetroVietnam Power Coal Import and Supply Company
- Orica Mining Services - Indonesia
- Metalloyd Limited - United Kingdom
- Therma Luzon, Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Straits Asia Resources Limited - Singapore
- Interocean Group of Companies - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Star Paper Mills Limited - India
- Bulk Trading Sa - Switzerland
- Ministry of Mines - Canada
- PNOC Exploration Corporation - Philippines
- Bhushan Steel Limited - India
- South Luzon Thermal Energy Corporation
- New Zealand Coal & Carbon
- Energy Development Corp, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Planning Commission, India
- Directorate Of Revenue Intelligence - India
- Kapuas Tunggal Persada - Indonesia
- CNBM International Corporation - China
- Grasim Industreis Ltd - India
- Kaltim Prima Coal - Indonesia
- VISA Power Limited - India
- Pendopo Energi Batubara - Indonesia
- Borneo Indobara - Indonesia
- Petron Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Goldman Sachs - Singapore
- International Coal Ventures Pvt Ltd - India
- Indian Energy Exchange, India
- The Treasury - Australian Government
- Central Java Power - Indonesia
- Anglo American - United Kingdom
- Gujarat Sidhee Cement - India
- Semirara Mining and Power Corporation, Philippines
- Makarim & Taira - Indonesia
- Barasentosa Lestari - Indonesia
- Oldendorff Carriers - Singapore
- GMR Energy Limited - India
- Latin American Coal - Colombia
- Vijayanagar Sugar Pvt Ltd - India
- India Bulls Power Limited - India
- Parliament of New Zealand
- Bukit Asam (Persero) Tbk - Indonesia
- Kideco Jaya Agung - Indonesia
- Aboitiz Power Corporation - Philippines
- Ministry of Finance - Indonesia
- Malabar Cements Ltd - India
- Kepco SPC Power Corporation, Philippines
- Romanian Commodities Exchange
- London Commodity Brokers - England
- Billiton Holdings Pty Ltd - Australia
- Posco Energy - South Korea
- Alfred C Toepfer International GmbH - Germany
- CIMB Investment Bank - Malaysia
- Africa Commodities Group - South Africa
- Merrill Lynch Commodities Europe
- Essar Steel Hazira Ltd - India
- Indian Oil Corporation Limited
- McConnell Dowell - Australia
- The University of Queensland
- Madhucon Powers Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Price Waterhouse Coopers - Russia
- TeaM Sual Corporation - Philippines
- Sical Logistics Limited - India
- AsiaOL BioFuels Corp., Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sakthi Sugars Limited - India
- Indika Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Independent Power Producers Association of India
- Intertek Mineral Services - Indonesia
- Georgia Ports Authority, United States
- White Energy Company Limited
- Energy Link Ltd, New Zealand
- SMG Consultants - Indonesia
- Electricity Authority, New Zealand
- Maheswari Brothers Coal Limited - India
- Kohat Cement Company Ltd. - Pakistan
- GN Power Mariveles Coal Plant, Philippines
- Savvy Resources Ltd - HongKong
- Heidelberg Cement - Germany
- Bangladesh Power Developement Board
- Iligan Light & Power Inc, Philippines
- Port Waratah Coal Services - Australia
- Eastern Coal Council - USA
- Rashtriya Ispat Nigam Limited - India
- Tamil Nadu electricity Board
- Bhatia International Limited - India
- Global Business Power Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Sojitz Corporation - Japan
- Mjunction Services Limited - India
- Ind-Barath Power Infra Limited - India
- Samtan Co., Ltd - South Korea
- Holcim Trading Pte Ltd - Singapore
- Kobexindo Tractors - Indoneisa
- Formosa Plastics Group - Taiwan
- Ambuja Cements Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Manunggal Multi Energi - Indonesia
- San Jose City I Power Corp, Philippines
- Eastern Energy - Thailand
- Wilmar Investment Holdings
- Deloitte Consulting - India
- Orica Australia Pty. Ltd.
- Renaissance Capital - South Africa
- Sarangani Energy Corporation, Philippines
- GVK Power & Infra Limited - India
- Indo Tambangraya Megah - Indonesia
- Vedanta Resources Plc - India
- OPG Power Generation Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
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