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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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Saturday, 07 July 12
BALTIC INDEX UP ON STRONG CAPE, PANAMAX RATES - VISTAAR
COALspot.com - This week all the segments were firmed up with BDI up by 15.23 pct (up by 153 points) closing at 1,157 points.
The cape index also ...
Saturday, 07 July 12
DRY BULK MARKET NOT ABLE TO FIND SOLID GROUND SAY EXPERTS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With the second half of each, traditionally looking the most active one, especially in terms of newbuildings being delivered, it's highly unlikely ...
Thursday, 05 July 12
GOVT GETS READY FOR $1.8B SUIT - THE JAKARTA POST
The Jakarta Post, one of the leading Indonesian English new papers reported that, several ministries and the Attorney General’s Office held a ...
Thursday, 05 July 12
DRY BULK MARKET MOVES FURTHER UP THE HILL - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has kept its growth momentum by the middle of the week, as the BDI (Baltic Dry Index) rose by an additional 40 points to 1,103 p ...
Thursday, 05 July 12
BUMI ACHIEVES HIGHER SELLING PRICE IN FIRST QUARTER
COALspot.com - PT Bumi Resources Tbk (BUMI), Indonesia's largest coal producer and exporter, has successfully maintained a higher sales margin, des ...
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- Star Paper Mills Limited - India
- CIMB Investment Bank - Malaysia
- Ind-Barath Power Infra Limited - India
- Krishnapatnam Port Company Ltd. - India
- Ambuja Cements Ltd - India
- Georgia Ports Authority, United States
- Thiess Contractors Indonesia
- Meenaskhi Energy Private Limited - India
- Mercator Lines Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- TeaM Sual Corporation - Philippines
- Ministry of Finance - Indonesia
- Borneo Indobara - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Chettinad Cement Corporation Ltd - India
- Siam City Cement - Thailand
- Miang Besar Coal Terminal - Indonesia
- Bhushan Steel Limited - India
- Bukit Makmur.PT - Indonesia
- Kideco Jaya Agung - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Savvy Resources Ltd - HongKong
- GAC Shipping (India) Pvt Ltd
- Uttam Galva Steels Limited - India
- Leighton Contractors Pty Ltd - Australia
- Sical Logistics Limited - India
- Essar Steel Hazira Ltd - India
- Independent Power Producers Association of India
- Sarangani Energy Corporation, Philippines
- Commonwealth Bank - Australia
- Jorong Barutama Greston.PT - Indonesia
- Aboitiz Power Corporation - Philippines
- Global Business Power Corporation, Philippines
- India Bulls Power Limited - India
- Bayan Resources Tbk. - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Latin American Coal - Colombia
- Africa Commodities Group - South Africa
- McConnell Dowell - Australia
- Billiton Holdings Pty Ltd - Australia
- Iligan Light & Power Inc, Philippines
- Bhoruka Overseas - Indonesia
- Chamber of Mines of South Africa
- European Bulk Services B.V. - Netherlands
- Lanco Infratech Ltd - India
- Planning Commission, India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Eastern Energy - Thailand
- Marubeni Corporation - India
- Xindia Steels Limited - India
- Cigading International Bulk Terminal - Indonesia
- Dalmia Cement Bharat India
- Price Waterhouse Coopers - Russia
- Sakthi Sugars Limited - India
- Gujarat Mineral Development Corp Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Carbofer General Trading SA - India
- Goldman Sachs - Singapore
- Maheswari Brothers Coal Limited - India
- Baramulti Group, Indonesia
- Intertek Mineral Services - Indonesia
- Standard Chartered Bank - UAE
- CNBM International Corporation - China
- Kumho Petrochemical, South Korea
- Orica Australia Pty. Ltd.
- Posco Energy - South Korea
- Port Waratah Coal Services - Australia
- Toyota Tsusho Corporation, Japan
- MS Steel International - UAE
- Australian Coal Association
- Wilmar Investment Holdings
- PTC India Limited - India
- Bharathi Cement Corporation - India
- Semirara Mining Corp, Philippines
- Videocon Industries ltd - India
- Bulk Trading Sa - Switzerland
- Global Coal Blending Company Limited - Australia
- Kartika Selabumi Mining - Indonesia
- Meralco Power Generation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Wood Mackenzie - Singapore
- South Luzon Thermal Energy Corporation
- Aditya Birla Group - India
- Maharashtra Electricity Regulatory Commission - India
- Electricity Generating Authority of Thailand
- Malabar Cements Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- SMC Global Power, Philippines
- Cement Manufacturers Association - India
- Globalindo Alam Lestari - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Kobexindo Tractors - Indoneisa
- GMR Energy Limited - India
- Makarim & Taira - Indonesia
- PNOC Exploration Corporation - Philippines
- Gujarat Electricity Regulatory Commission - India
- New Zealand Coal & Carbon
- Singapore Mercantile Exchange
- Indian Energy Exchange, India
- San Jose City I Power Corp, Philippines
- Indogreen Group - Indonesia
- Energy Development Corp, Philippines
- Sree Jayajothi Cements Limited - India
- Bangladesh Power Developement Board
- Petron Corporation, Philippines
- Gujarat Sidhee Cement - India
- Medco Energi Mining Internasional
- Trasteel International SA, Italy
- Attock Cement Pakistan Limited
- Larsen & Toubro Limited - India
- Antam Resourcindo - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Indonesian Coal Mining Association
- Power Finance Corporation Ltd., India
- SN Aboitiz Power Inc, Philippines
- Interocean Group of Companies - India
- Thai Mozambique Logistica
- Deloitte Consulting - India
- Tamil Nadu electricity Board
- Rio Tinto Coal - Australia
- Electricity Authority, New Zealand
- Mintek Dendrill Indonesia
- Kapuas Tunggal Persada - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Parliament of New Zealand
- Madhucon Powers Ltd - India
- Ministry of Mines - Canada
- Edison Trading Spa - Italy
- Economic Council, Georgia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Heidelberg Cement - Germany
- Formosa Plastics Group - Taiwan
- Pendopo Energi Batubara - Indonesia
- Jaiprakash Power Ventures ltd
- Minerals Council of Australia
- SMG Consultants - Indonesia
- Indo Tambangraya Megah - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Timah Investasi Mineral - Indoneisa
- Grasim Industreis Ltd - India
- Jindal Steel & Power Ltd - India
- Kepco SPC Power Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Indika Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- IHS Mccloskey Coal Group - USA
- GN Power Mariveles Coal Plant, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Vizag Seaport Private Limited - India
- PowerSource Philippines DevCo
- OPG Power Generation Pvt Ltd - India
- Bhatia International Limited - India
- Coastal Gujarat Power Limited - India
- Therma Luzon, Inc, Philippines
- Banpu Public Company Limited - Thailand
- Central Electricity Authority - India
- Manunggal Multi Energi - Indonesia
- Coal and Oil Company - UAE
- Agrawal Coal Company - India
- Coalindo Energy - Indonesia
- Parry Sugars Refinery, India
- Australian Commodity Traders Exchange
- Rashtriya Ispat Nigam Limited - India
- Binh Thuan Hamico - Vietnam
- Ministry of Transport, Egypt
- Mjunction Services Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Indian Oil Corporation Limited
- Romanian Commodities Exchange
- Renaissance Capital - South Africa
- ICICI Bank Limited - India
- Sindya Power Generating Company Private Ltd
- Tata Chemicals Ltd - India
- Energy Link Ltd, New Zealand
- Salva Resources Pvt Ltd - India
- The University of Queensland
- ASAPP Information Group - India
- Orica Mining Services - Indonesia
- Metalloyd Limited - United Kingdom
- Directorate General of MIneral and Coal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Mercuria Energy - Indonesia
- Sojitz Corporation - Japan
- Global Green Power PLC Corporation, Philippines
- Barasentosa Lestari - Indonesia
- The State Trading Corporation of India Ltd
- Bukit Baiduri Energy - Indonesia
- Eastern Coal Council - USA
- Central Java Power - Indonesia
- Siam City Cement PLC, Thailand
- London Commodity Brokers - England
- Neyveli Lignite Corporation Ltd, - India
- AsiaOL BioFuels Corp., Philippines
- GVK Power & Infra Limited - India
- Karaikal Port Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Altura Mining Limited, Indonesia
- Merrill Lynch Commodities Europe
- Vijayanagar Sugar Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- LBH Netherlands Bv - Netherlands
- Asmin Koalindo Tuhup - Indonesia
- VISA Power Limited - India
- Vedanta Resources Plc - India
- Directorate Of Revenue Intelligence - India
- Alfred C Toepfer International GmbH - Germany
- IEA Clean Coal Centre - UK
- Anglo American - United Kingdom
- Kaltim Prima Coal - Indonesia
- Riau Bara Harum - Indonesia
- The Treasury - Australian Government
- White Energy Company Limited
- Oldendorff Carriers - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- International Coal Ventures Pvt Ltd - India
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