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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, 16 September 12
THE FREIGHT RATES FROM INDONESIA TO INDIA EXPECTED TO BE STEADY - VISTAAR
COALspot.com - The freight market was mixed with most indices closing positive except for the Panamax index.
The main sentiment seems to be ...
Saturday, 15 September 12
FINANCE MINISTRY OPPOSES TAX INCENTIVE PLAN FOR COAL MINERS - JP
The Jakarta Post reported that, the Finance Ministry has turned down the idea of providing a fiscal incentive to the country’s coal mining ind ...
Friday, 14 September 12
DRY BULK MARKET LOOKS TOWARDS CHINA FOR SOME POSITIVE NEWS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With the dry bulk market freight rates submerged underwater for a large part of the year, dry bulk owners are looking for some positive enhancement ...
Friday, 14 September 12
GOVT OFFERS CONDITIONAL TAX HOLIDAY TO AILING COAL MINERS - JP
The Jakarta Post, one of the leading English news paper in Indonesia reported that, acknowledging difficulties encountered by coal miners due to a p ...
Thursday, 13 September 12
PANAMAX: THE NEGATIVE TREND, POOR SENTIMENT CONTINUES - FEARNLEYS AS
Handy
Lack of cargoes and a growing list of available ships is causing rates to slip for all Atlantic trades.
The only trade keeping somewhat s ...
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- Rio Tinto Coal - Australia
- Coalindo Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Interocean Group of Companies - India
- OPG Power Generation Pvt Ltd - India
- Posco Energy - South Korea
- Gujarat Electricity Regulatory Commission - India
- Carbofer General Trading SA - India
- India Bulls Power Limited - India
- Gujarat Sidhee Cement - India
- Uttam Galva Steels Limited - India
- Minerals Council of Australia
- Attock Cement Pakistan Limited
- Chamber of Mines of South Africa
- Siam City Cement PLC, Thailand
- Cement Manufacturers Association - India
- Global Green Power PLC Corporation, Philippines
- Singapore Mercantile Exchange
- AsiaOL BioFuels Corp., Philippines
- Coal and Oil Company - UAE
- Rashtriya Ispat Nigam Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Indian Oil Corporation Limited
- Bangladesh Power Developement Board
- Indika Energy - Indonesia
- Thai Mozambique Logistica
- Star Paper Mills Limited - India
- GMR Energy Limited - India
- Africa Commodities Group - South Africa
- Sojitz Corporation - Japan
- Trasteel International SA, Italy
- MS Steel International - UAE
- The State Trading Corporation of India Ltd
- TeaM Sual Corporation - Philippines
- Kideco Jaya Agung - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Bhatia International Limited - India
- Deloitte Consulting - India
- Altura Mining Limited, Indonesia
- Miang Besar Coal Terminal - Indonesia
- Tata Chemicals Ltd - India
- McConnell Dowell - Australia
- Xindia Steels Limited - India
- Marubeni Corporation - India
- Commonwealth Bank - Australia
- Kapuas Tunggal Persada - Indonesia
- LBH Netherlands Bv - Netherlands
- Oldendorff Carriers - Singapore
- Indo Tambangraya Megah - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Central Java Power - Indonesia
- Makarim & Taira - Indonesia
- Aboitiz Power Corporation - Philippines
- Salva Resources Pvt Ltd - India
- London Commodity Brokers - England
- Eastern Energy - Thailand
- Parliament of New Zealand
- Energy Development Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Therma Luzon, Inc, Philippines
- Ministry of Transport, Egypt
- Intertek Mineral Services - Indonesia
- Thiess Contractors Indonesia
- SN Aboitiz Power Inc, Philippines
- Kumho Petrochemical, South Korea
- Goldman Sachs - Singapore
- Pendopo Energi Batubara - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Formosa Plastics Group - Taiwan
- Bhushan Steel Limited - India
- New Zealand Coal & Carbon
- Coastal Gujarat Power Limited - India
- CIMB Investment Bank - Malaysia
- Price Waterhouse Coopers - Russia
- Bharathi Cement Corporation - India
- Iligan Light & Power Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Jindal Steel & Power Ltd - India
- Port Waratah Coal Services - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- ICICI Bank Limited - India
- Renaissance Capital - South Africa
- Edison Trading Spa - Italy
- Independent Power Producers Association of India
- IEA Clean Coal Centre - UK
- Global Coal Blending Company Limited - Australia
- Georgia Ports Authority, United States
- Alfred C Toepfer International GmbH - Germany
- Globalindo Alam Lestari - Indonesia
- Videocon Industries ltd - India
- Grasim Industreis Ltd - India
- Larsen & Toubro Limited - India
- Riau Bara Harum - Indonesia
- Economic Council, Georgia
- Merrill Lynch Commodities Europe
- Holcim Trading Pte Ltd - Singapore
- Orica Australia Pty. Ltd.
- GAC Shipping (India) Pvt Ltd
- Meralco Power Generation, Philippines
- Heidelberg Cement - Germany
- Mjunction Services Limited - India
- Kartika Selabumi Mining - Indonesia
- Tamil Nadu electricity Board
- Malabar Cements Ltd - India
- Madhucon Powers Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Bulk Trading Sa - Switzerland
- Anglo American - United Kingdom
- Indonesian Coal Mining Association
- GN Power Mariveles Coal Plant, Philippines
- PNOC Exploration Corporation - Philippines
- Vedanta Resources Plc - India
- CNBM International Corporation - China
- Wood Mackenzie - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Indian Energy Exchange, India
- Aditya Birla Group - India
- Ministry of Mines - Canada
- Vizag Seaport Private Limited - India
- Maharashtra Electricity Regulatory Commission - India
- PowerSource Philippines DevCo
- Vijayanagar Sugar Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Kaltim Prima Coal - Indonesia
- Maheswari Brothers Coal Limited - India
- VISA Power Limited - India
- ASAPP Information Group - India
- PTC India Limited - India
- Semirara Mining Corp, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Australian Coal Association
- Binh Thuan Hamico - Vietnam
- SMG Consultants - Indonesia
- Mintek Dendrill Indonesia
- Sakthi Sugars Limited - India
- SMC Global Power, Philippines
- The Treasury - Australian Government
- Kohat Cement Company Ltd. - Pakistan
- San Jose City I Power Corp, Philippines
- Electricity Authority, New Zealand
- Ambuja Cements Ltd - India
- Power Finance Corporation Ltd., India
- Wilmar Investment Holdings
- Romanian Commodities Exchange
- Essar Steel Hazira Ltd - India
- Antam Resourcindo - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Ceylon Electricity Board - Sri Lanka
- Barasentosa Lestari - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indogreen Group - Indonesia
- Sical Logistics Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sindya Power Generating Company Private Ltd
- GVK Power & Infra Limited - India
- Sarangani Energy Corporation, Philippines
- Borneo Indobara - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Medco Energi Mining Internasional
- European Bulk Services B.V. - Netherlands
- Samtan Co., Ltd - South Korea
- Petrochimia International Co. Ltd.- Taiwan
- Orica Mining Services - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Energy Link Ltd, New Zealand
- Parry Sugars Refinery, India
- Chettinad Cement Corporation Ltd - India
- Petron Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Manunggal Multi Energi - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Leighton Contractors Pty Ltd - Australia
- Bukit Baiduri Energy - Indonesia
- Electricity Generating Authority of Thailand
- Dalmia Cement Bharat India
- Ministry of Finance - Indonesia
- Australian Commodity Traders Exchange
- Toyota Tsusho Corporation, Japan
- Sinarmas Energy and Mining - Indonesia
- Sree Jayajothi Cements Limited - India
- Mercator Lines Limited - India
- International Coal Ventures Pvt Ltd - India
- Siam City Cement - Thailand
- Jorong Barutama Greston.PT - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Bayan Resources Tbk. - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Banpu Public Company Limited - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Jaiprakash Power Ventures ltd
- Straits Asia Resources Limited - Singapore
- Metalloyd Limited - United Kingdom
- Baramulti Group, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- The University of Queensland
- Central Electricity Authority - India
- Meenaskhi Energy Private Limited - India
- Standard Chartered Bank - UAE
- IHS Mccloskey Coal Group - USA
- White Energy Company Limited
- Kepco SPC Power Corporation, Philippines
- Latin American Coal - Colombia
- Simpson Spence & Young - Indonesia
- Eastern Coal Council - USA
- Bukit Makmur.PT - Indonesia
- Timah Investasi Mineral - Indoneisa
- Ind-Barath Power Infra Limited - India
- Savvy Resources Ltd - HongKong
- Lanco Infratech Ltd - India
- Planning Commission, India
- Global Business Power Corporation, Philippines
- Mercuria Energy - Indonesia
- Agrawal Coal Company - India
- Kobexindo Tractors - Indoneisa
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