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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, 22 June 12
COAL: THE BACKBONE OF MODERN ELECTRICITY - ECOAL
Coal has been described as the "forgotten fuel," perhaps because many aren't aware of the huge role it plays in powering the global econo ...
Thursday, 21 June 12
DRY BULK MARKET ON THE RISE AGAIN - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market was on the rise once again yesterday, with the Baltic Dry Index (BDI), the industry’s benchmark, rising by 18 points, or 1 ...
Wednesday, 20 June 12
BDI MOVING HIGHER, PANAMAX AND SUPRAMAX VESSELS STRONGER, CAPESIZE RATES NEAR TO HISTORICAL LOWS OF DECEMBER 2008 - MARIA BERTZELETOU, HELLENIC SHIPPING
The dry market seems to follow the dynamic of the previous week with the Baltic Dry Index showing daily increases since June 8th, but is still stand ...
Tuesday, 19 June 12
SMALLER DRY BULK CARRIERS LIFT UP MARKET, PANAMAXES SET TO FALL SAYS ANALYST - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Another rise for the dry bulk market was evident yesterday, as the industry’s benchmark, the BDI (Baltic Dry Index) was up for a ninth straigh ...
Sunday, 17 June 12
S7 & S8 ROUTES ARE LIKELY TO BE SOFT NEXT WEEK - VISTAAR
COALspot.com - The BDI gained some increase after continues fall for several weeks.
The BDI increased by 47 points (up by 5.36 pct) closing at 92 ...
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- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Maheswari Brothers Coal Limited - India
- SN Aboitiz Power Inc, Philippines
- Posco Energy - South Korea
- Ministry of Mines - Canada
- GVK Power & Infra Limited - India
- Meralco Power Generation, Philippines
- Heidelberg Cement - Germany
- Jaiprakash Power Ventures ltd
- Directorate Of Revenue Intelligence - India
- VISA Power Limited - India
- Rio Tinto Coal - Australia
- Central Electricity Authority - India
- Miang Besar Coal Terminal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Ambuja Cements Ltd - India
- Kideco Jaya Agung - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Attock Cement Pakistan Limited
- Tamil Nadu electricity Board
- Marubeni Corporation - India
- Sarangani Energy Corporation, Philippines
- Anglo American - United Kingdom
- Larsen & Toubro Limited - India
- San Jose City I Power Corp, Philippines
- Simpson Spence & Young - Indonesia
- Thai Mozambique Logistica
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- Orica Australia Pty. Ltd.
- Global Coal Blending Company Limited - Australia
- Directorate General of MIneral and Coal - Indonesia
- Formosa Plastics Group - Taiwan
- Singapore Mercantile Exchange
- Kepco SPC Power Corporation, Philippines
- Tata Chemicals Ltd - India
- Coal and Oil Company - UAE
- Malabar Cements Ltd - India
- The State Trading Corporation of India Ltd
- Energy Link Ltd, New Zealand
- Siam City Cement PLC, Thailand
- Orica Mining Services - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Leighton Contractors Pty Ltd - Australia
- Riau Bara Harum - Indonesia
- Bangladesh Power Developement Board
- Semirara Mining Corp, Philippines
- Port Waratah Coal Services - Australia
- Indonesian Coal Mining Association
- MS Steel International - UAE
- Iligan Light & Power Inc, Philippines
- PNOC Exploration Corporation - Philippines
- Kalimantan Lumbung Energi - Indonesia
- Thiess Contractors Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mjunction Services Limited - India
- Sinarmas Energy and Mining - Indonesia
- CNBM International Corporation - China
- Wilmar Investment Holdings
- Global Green Power PLC Corporation, Philippines
- Merrill Lynch Commodities Europe
- Kartika Selabumi Mining - Indonesia
- Price Waterhouse Coopers - Russia
- TNB Fuel Sdn Bhd - Malaysia
- Sindya Power Generating Company Private Ltd
- Pendopo Energi Batubara - Indonesia
- Independent Power Producers Association of India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Parliament of New Zealand
- New Zealand Coal & Carbon
- Parry Sugars Refinery, India
- Bharathi Cement Corporation - India
- Vijayanagar Sugar Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Interocean Group of Companies - India
- International Coal Ventures Pvt Ltd - India
- Medco Energi Mining Internasional
- ASAPP Information Group - India
- Minerals Council of Australia
- London Commodity Brokers - England
- Commonwealth Bank - Australia
- CIMB Investment Bank - Malaysia
- Indo Tambangraya Megah - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Vedanta Resources Plc - India
- Mercuria Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- White Energy Company Limited
- Banpu Public Company Limited - Thailand
- Power Finance Corporation Ltd., India
- Altura Mining Limited, Indonesia
- Meenaskhi Energy Private Limited - India
- The University of Queensland
- Bhoruka Overseas - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Baramulti Group, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bhushan Steel Limited - India
- Australian Coal Association
- PowerSource Philippines DevCo
- Sree Jayajothi Cements Limited - India
- Videocon Industries ltd - India
- Goldman Sachs - Singapore
- Makarim & Taira - Indonesia
- Planning Commission, India
- Trasteel International SA, Italy
- Madhucon Powers Ltd - India
- Globalindo Alam Lestari - Indonesia
- Bayan Resources Tbk. - Indonesia
- Indian Oil Corporation Limited
- Grasim Industreis Ltd - India
- LBH Netherlands Bv - Netherlands
- Manunggal Multi Energi - Indonesia
- TeaM Sual Corporation - Philippines
- Mintek Dendrill Indonesia
- Coastal Gujarat Power Limited - India
- Oldendorff Carriers - Singapore
- Billiton Holdings Pty Ltd - Australia
- Romanian Commodities Exchange
- OPG Power Generation Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Toyota Tsusho Corporation, Japan
- Aboitiz Power Corporation - Philippines
- Timah Investasi Mineral - Indoneisa
- Cement Manufacturers Association - India
- Carbofer General Trading SA - India
- Kaltim Prima Coal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Essar Steel Hazira Ltd - India
- The Treasury - Australian Government
- Global Business Power Corporation, Philippines
- ICICI Bank Limited - India
- Coalindo Energy - Indonesia
- Indian Energy Exchange, India
- Georgia Ports Authority, United States
- Africa Commodities Group - South Africa
- Indogreen Group - Indonesia
- Siam City Cement - Thailand
- Kohat Cement Company Ltd. - Pakistan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Eastern Coal Council - USA
- Kobexindo Tractors - Indoneisa
- South Luzon Thermal Energy Corporation
- India Bulls Power Limited - India
- Dalmia Cement Bharat India
- Electricity Generating Authority of Thailand
- PTC India Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Latin American Coal - Colombia
- Edison Trading Spa - Italy
- Straits Asia Resources Limited - Singapore
- SMC Global Power, Philippines
- Samtan Co., Ltd - South Korea
- Eastern Energy - Thailand
- Indika Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Kumho Petrochemical, South Korea
- Sojitz Corporation - Japan
- Economic Council, Georgia
- GMR Energy Limited - India
- Aditya Birla Group - India
- Asmin Koalindo Tuhup - Indonesia
- Agrawal Coal Company - India
- Uttam Galva Steels Limited - India
- Ceylon Electricity Board - Sri Lanka
- Jindal Steel & Power Ltd - India
- Sical Logistics Limited - India
- Chettinad Cement Corporation Ltd - India
- Ministry of Finance - Indonesia
- Intertek Mineral Services - Indonesia
- Standard Chartered Bank - UAE
- Karbindo Abesyapradhi - Indoneisa
- Star Paper Mills Limited - India
- Ministry of Transport, Egypt
- Sakthi Sugars Limited - India
- Bhatia International Limited - India
- Bulk Trading Sa - Switzerland
- Mercator Lines Limited - India
- IEA Clean Coal Centre - UK
- McConnell Dowell - Australia
- Vizag Seaport Private Limited - India
- AsiaOL BioFuels Corp., Philippines
- Chamber of Mines of South Africa
- Bukit Baiduri Energy - Indonesia
- Antam Resourcindo - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Gujarat Sidhee Cement - India
- Renaissance Capital - South Africa
- Xindia Steels Limited - India
- Therma Luzon, Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Barasentosa Lestari - Indonesia
- Energy Development Corp, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Salva Resources Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Borneo Indobara - Indonesia
- Petron Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- European Bulk Services B.V. - Netherlands
- Lanco Infratech Ltd - India
- Wood Mackenzie - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Australian Commodity Traders Exchange
- Central Java Power - Indonesia
- Karaikal Port Pvt Ltd - India
- Electricity Authority, New Zealand
- Bukit Makmur.PT - Indonesia
- Metalloyd Limited - United Kingdom
- Pipit Mutiara Jaya. PT, Indonesia
- Deloitte Consulting - India
- SMG Consultants - Indonesia
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