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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, 18 May 12
KOREA EAST WEST POWER LOOKING FOR TOTAL 2.6 MILLION TONS OF 4600 NAR COAL AT FIXED PRICE FOR 5 YEARS
COALspot.com - Korea East West Power Co., Ltd is inviting bids to supply of 520,000 Metric Tons (per annum) of minimum 4,600 kcal/kg coal of N ...
Friday, 18 May 12
NICKEL ORE CARGOES ARE NOT SEEN IN MARKET ANYMORE DUE TO ON-GOING INDONESIAN BAN - FEARNLEYS AS
Handy
The market remained variable.
Fronthaul voyages both from Baltic and Black Sea paid over USD 18k/day. From USG to Cont tonnage would get ...
Thursday, 17 May 12
COAL MINERS OPPOSE EXPORT TAX, SUGGEST OUTPUT QUOTA - THE JAKARTA POST
The Jakarta Post reported that, coal miners have suggested that the government apply a production quota instead of implementing an export tax in ord ...
Thursday, 17 May 12
DRY BULK MARKET STILL LOOKING FOR NEW DIRECTION - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has kept on moving sideways during this week, with the mixed performance across all segments. Yesterday, the industry’s be ...
Tuesday, 15 May 12
POTENTIAL BOOM OF CHINAS COAL IMPORTS COULD PROVIDE FURTHER SUPPORT TO DRY BULK MARKET - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has been moving sideways during the past week with the industry’s benchmark, the Baltic Dry Index (BDI) losing 0.53% on th ...
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- Salva Resources Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- GAC Shipping (India) Pvt Ltd
- Dalmia Cement Bharat India
- Carbofer General Trading SA - India
- Samtan Co., Ltd - South Korea
- Global Business Power Corporation, Philippines
- GVK Power & Infra Limited - India
- PNOC Exploration Corporation - Philippines
- Deloitte Consulting - India
- Asmin Koalindo Tuhup - Indonesia
- Bhatia International Limited - India
- Sojitz Corporation - Japan
- Directorate General of MIneral and Coal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Borneo Indobara - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Power Finance Corporation Ltd., India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Savvy Resources Ltd - HongKong
- Vedanta Resources Plc - India
- Star Paper Mills Limited - India
- Iligan Light & Power Inc, Philippines
- Heidelberg Cement - Germany
- Posco Energy - South Korea
- Siam City Cement PLC, Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- CIMB Investment Bank - Malaysia
- SMG Consultants - Indonesia
- The Treasury - Australian Government
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Sidhee Cement - India
- Bahari Cakrawala Sebuku - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Indonesian Coal Mining Association
- The State Trading Corporation of India Ltd
- Banpu Public Company Limited - Thailand
- Miang Besar Coal Terminal - Indonesia
- London Commodity Brokers - England
- Anglo American - United Kingdom
- Simpson Spence & Young - Indonesia
- Latin American Coal - Colombia
- Grasim Industreis Ltd - India
- Formosa Plastics Group - Taiwan
- Romanian Commodities Exchange
- PTC India Limited - India
- Merrill Lynch Commodities Europe
- Sindya Power Generating Company Private Ltd
- Global Coal Blending Company Limited - Australia
- Wilmar Investment Holdings
- Georgia Ports Authority, United States
- Holcim Trading Pte Ltd - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Alfred C Toepfer International GmbH - Germany
- Intertek Mineral Services - Indonesia
- Cement Manufacturers Association - India
- Trasteel International SA, Italy
- Sakthi Sugars Limited - India
- Bayan Resources Tbk. - Indonesia
- Vizag Seaport Private Limited - India
- Indika Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Minerals Council of Australia
- Orica Australia Pty. Ltd.
- McConnell Dowell - Australia
- PetroVietnam Power Coal Import and Supply Company
- Singapore Mercantile Exchange
- Goldman Sachs - Singapore
- Electricity Generating Authority of Thailand
- Sinarmas Energy and Mining - Indonesia
- Jaiprakash Power Ventures ltd
- Independent Power Producers Association of India
- Agrawal Coal Company - India
- Therma Luzon, Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Barasentosa Lestari - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Larsen & Toubro Limited - India
- Meenaskhi Energy Private Limited - India
- Edison Trading Spa - Italy
- Oldendorff Carriers - Singapore
- Ambuja Cements Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Semirara Mining and Power Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- GN Power Mariveles Coal Plant, Philippines
- Planning Commission, India
- Semirara Mining Corp, Philippines
- Africa Commodities Group - South Africa
- Attock Cement Pakistan Limited
- Eastern Energy - Thailand
- Lanco Infratech Ltd - India
- Coastal Gujarat Power Limited - India
- Parry Sugars Refinery, India
- Australian Coal Association
- Bhushan Steel Limited - India
- Billiton Holdings Pty Ltd - Australia
- ICICI Bank Limited - India
- Metalloyd Limited - United Kingdom
- Commonwealth Bank - Australia
- Price Waterhouse Coopers - Russia
- Xindia Steels Limited - India
- Chamber of Mines of South Africa
- Thai Mozambique Logistica
- Sree Jayajothi Cements Limited - India
- GMR Energy Limited - India
- Ministry of Transport, Egypt
- San Jose City I Power Corp, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Bhoruka Overseas - Indonesia
- LBH Netherlands Bv - Netherlands
- Toyota Tsusho Corporation, Japan
- Baramulti Group, Indonesia
- Coal and Oil Company - UAE
- Pendopo Energi Batubara - Indonesia
- ASAPP Information Group - India
- Mintek Dendrill Indonesia
- Leighton Contractors Pty Ltd - Australia
- Ceylon Electricity Board - Sri Lanka
- Eastern Coal Council - USA
- The University of Queensland
- Petron Corporation, Philippines
- Marubeni Corporation - India
- Interocean Group of Companies - India
- Globalindo Alam Lestari - Indonesia
- South Luzon Thermal Energy Corporation
- Bharathi Cement Corporation - India
- Kaltim Prima Coal - Indonesia
- Karaikal Port Pvt Ltd - India
- Economic Council, Georgia
- Riau Bara Harum - Indonesia
- Orica Mining Services - Indonesia
- SN Aboitiz Power Inc, Philippines
- White Energy Company Limited
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Pipit Mutiara Jaya. PT, Indonesia
- Mercuria Energy - Indonesia
- TeaM Sual Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- European Bulk Services B.V. - Netherlands
- IEA Clean Coal Centre - UK
- Aboitiz Power Corporation - Philippines
- Mercator Lines Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Bukit Makmur.PT - Indonesia
- Makarim & Taira - Indonesia
- Tata Chemicals Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Port Waratah Coal Services - Australia
- Binh Thuan Hamico - Vietnam
- Kideco Jaya Agung - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Kumho Petrochemical, South Korea
- Renaissance Capital - South Africa
- Kohat Cement Company Ltd. - Pakistan
- Global Green Power PLC Corporation, Philippines
- Malabar Cements Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Finance - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Bangladesh Power Developement Board
- Bukit Baiduri Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Indian Energy Exchange, India
- Wood Mackenzie - Singapore
- Altura Mining Limited, Indonesia
- Rashtriya Ispat Nigam Limited - India
- Timah Investasi Mineral - Indoneisa
- Maharashtra Electricity Regulatory Commission - India
- Chettinad Cement Corporation Ltd - India
- India Bulls Power Limited - India
- Indian Oil Corporation Limited
- Tamil Nadu electricity Board
- Electricity Authority, New Zealand
- Energy Link Ltd, New Zealand
- Mjunction Services Limited - India
- Central Java Power - Indonesia
- Antam Resourcindo - Indonesia
- Energy Development Corp, Philippines
- Standard Chartered Bank - UAE
- Videocon Industries ltd - India
- Rio Tinto Coal - Australia
- Coalindo Energy - Indonesia
- Thiess Contractors Indonesia
- Meralco Power Generation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Bulk Trading Sa - Switzerland
- Australian Commodity Traders Exchange
- Siam City Cement - Thailand
- Uttam Galva Steels Limited - India
- Essar Steel Hazira Ltd - India
- Aditya Birla Group - India
- IHS Mccloskey Coal Group - USA
- MS Steel International - UAE
- Madhucon Powers Ltd - India
- Ind-Barath Power Infra Limited - India
- Medco Energi Mining Internasional
- Parliament of New Zealand
- PowerSource Philippines DevCo
- Indogreen Group - Indonesia
- Maheswari Brothers Coal Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Jindal Steel & Power Ltd - India
- SMC Global Power, Philippines
- Kobexindo Tractors - Indoneisa
- Manunggal Multi Energi - Indonesia
- Ministry of Mines - Canada
- Straits Asia Resources Limited - Singapore
- Central Electricity Authority - India
- New Zealand Coal & Carbon
- Directorate Of Revenue Intelligence - India
- Kepco SPC Power Corporation, Philippines
- VISA Power Limited - India
- Sical Logistics Limited - India
- CNBM International Corporation - China
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