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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, 12 May 12
THE SHIPPING MARKET IS UNLIKELY TO SEE A REBOUND ANYTIME SOON - VISTAAR SINGAPORE
COALspot.com - The BDI softened this week and it was down by 1.64 pct closing at 1,138 points.
The cape index was up by 2.41 pct closing at 1,61 ...
Friday, 11 May 12
POLITICAL CHANGES COULD LEAD TO TEMPORARY HALT IN SHIPPING INVESTMENTS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The potential of changes of political leadership in many of the world’s leading economies could very well lead to significant shifts in the di ...
Thursday, 10 May 12
DRY BULK ERRATIC ON LACK OF DIRECTION - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has kept up its erratic behavior as it went down again during yesterday’s session, on a lack of direct guidance in terms o ...
Wednesday, 09 May 12
COAL INDIA SIGNS FSAS WITH 13 POWER UNITS SO FAR - PTI
Press Trust of India has reported that, coal India has so far entered into fuel supply pacts with 13 power units, including Reliance Power's Rosa P ...
Tuesday, 08 May 12
DRY BULK MARKET LOOKING FOR NEW DIRECTION THIS WEEK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With the BDI (Baltic Dry Index) the main benchmark of the dry bulk shipping industry not traded at the start of this week, traders, charterers and s ...
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- Petrochimia International Co. Ltd.- Taiwan
- Pipit Mutiara Jaya. PT, Indonesia
- Madhucon Powers Ltd - India
- Jaiprakash Power Ventures ltd
- European Bulk Services B.V. - Netherlands
- Tamil Nadu electricity Board
- Price Waterhouse Coopers - Russia
- Kapuas Tunggal Persada - Indonesia
- Chettinad Cement Corporation Ltd - India
- Sarangani Energy Corporation, Philippines
- Marubeni Corporation - India
- ASAPP Information Group - India
- Agrawal Coal Company - India
- South Luzon Thermal Energy Corporation
- Riau Bara Harum - Indonesia
- Siam City Cement PLC, Thailand
- Global Coal Blending Company Limited - Australia
- Aditya Birla Group - India
- Bayan Resources Tbk. - Indonesia
- Cement Manufacturers Association - India
- Wilmar Investment Holdings
- Asmin Koalindo Tuhup - Indonesia
- Kaltim Prima Coal - Indonesia
- The State Trading Corporation of India Ltd
- Globalindo Alam Lestari - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Metalloyd Limited - United Kingdom
- Larsen & Toubro Limited - India
- Parliament of New Zealand
- Barasentosa Lestari - Indonesia
- Commonwealth Bank - Australia
- Bulk Trading Sa - Switzerland
- PowerSource Philippines DevCo
- Timah Investasi Mineral - Indoneisa
- IEA Clean Coal Centre - UK
- Australian Coal Association
- Medco Energi Mining Internasional
- SMG Consultants - Indonesia
- Coal and Oil Company - UAE
- Pendopo Energi Batubara - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GN Power Mariveles Coal Plant, Philippines
- Savvy Resources Ltd - HongKong
- Kepco SPC Power Corporation, Philippines
- Mintek Dendrill Indonesia
- SMC Global Power, Philippines
- Interocean Group of Companies - India
- AsiaOL BioFuels Corp., Philippines
- Ind-Barath Power Infra Limited - India
- Sical Logistics Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Borneo Indobara - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Chamber of Mines of South Africa
- Leighton Contractors Pty Ltd - Australia
- Bukit Makmur.PT - Indonesia
- Thai Mozambique Logistica
- Wood Mackenzie - Singapore
- Ambuja Cements Ltd - India
- Energy Development Corp, Philippines
- London Commodity Brokers - England
- Videocon Industries ltd - India
- Indian Oil Corporation Limited
- Directorate Of Revenue Intelligence - India
- Therma Luzon, Inc, Philippines
- Standard Chartered Bank - UAE
- Independent Power Producers Association of India
- Sakthi Sugars Limited - India
- GMR Energy Limited - India
- Posco Energy - South Korea
- Coastal Gujarat Power Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Semirara Mining Corp, Philippines
- Vizag Seaport Private Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Trasteel International SA, Italy
- Directorate General of MIneral and Coal - Indonesia
- Star Paper Mills Limited - India
- Attock Cement Pakistan Limited
- Malabar Cements Ltd - India
- Orica Mining Services - Indonesia
- Simpson Spence & Young - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Eastern Coal Council - USA
- Indonesian Coal Mining Association
- Ministry of Finance - Indonesia
- Minerals Council of Australia
- Petron Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Essar Steel Hazira Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Global Business Power Corporation, Philippines
- Central Electricity Authority - India
- Xindia Steels Limited - India
- Energy Link Ltd, New Zealand
- Intertek Mineral Services - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Antam Resourcindo - Indonesia
- Binh Thuan Hamico - Vietnam
- Offshore Bulk Terminal Pte Ltd, Singapore
- Port Waratah Coal Services - Australia
- Global Green Power PLC Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- The University of Queensland
- CNBM International Corporation - China
- GAC Shipping (India) Pvt Ltd
- Thiess Contractors Indonesia
- The Treasury - Australian Government
- SN Aboitiz Power Inc, Philippines
- Singapore Mercantile Exchange
- IHS Mccloskey Coal Group - USA
- Manunggal Multi Energi - Indonesia
- Maheswari Brothers Coal Limited - India
- Toyota Tsusho Corporation, Japan
- Banpu Public Company Limited - Thailand
- White Energy Company Limited
- Mercuria Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Romanian Commodities Exchange
- CIMB Investment Bank - Malaysia
- Electricity Authority, New Zealand
- Sree Jayajothi Cements Limited - India
- Sinarmas Energy and Mining - Indonesia
- Makarim & Taira - Indonesia
- Australian Commodity Traders Exchange
- Latin American Coal - Colombia
- Ministry of Transport, Egypt
- Bhoruka Overseas - Indonesia
- Gujarat Sidhee Cement - India
- Eastern Energy - Thailand
- Indo Tambangraya Megah - Indonesia
- Salva Resources Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mercator Lines Limited - India
- Indika Energy - Indonesia
- Heidelberg Cement - Germany
- Samtan Co., Ltd - South Korea
- San Jose City I Power Corp, Philippines
- Grasim Industreis Ltd - India
- PTC India Limited - India
- Ministry of Mines - Canada
- Parry Sugars Refinery, India
- Bukit Baiduri Energy - Indonesia
- Lanco Infratech Ltd - India
- Rio Tinto Coal - Australia
- Kideco Jaya Agung - Indonesia
- India Bulls Power Limited - India
- MS Steel International - UAE
- Deloitte Consulting - India
- Uttam Galva Steels Limited - India
- Vedanta Resources Plc - India
- Central Java Power - Indonesia
- VISA Power Limited - India
- Africa Commodities Group - South Africa
- Kartika Selabumi Mining - Indonesia
- TeaM Sual Corporation - Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bhatia International Limited - India
- Jindal Steel & Power Ltd - India
- Formosa Plastics Group - Taiwan
- Indian Energy Exchange, India
- Alfred C Toepfer International GmbH - Germany
- ICICI Bank Limited - India
- Baramulti Group, Indonesia
- LBH Netherlands Bv - Netherlands
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Karaikal Port Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Anglo American - United Kingdom
- Vijayanagar Sugar Pvt Ltd - India
- New Zealand Coal & Carbon
- Kumho Petrochemical, South Korea
- Sojitz Corporation - Japan
- Holcim Trading Pte Ltd - Singapore
- McConnell Dowell - Australia
- Dalmia Cement Bharat India
- Karbindo Abesyapradhi - Indoneisa
- PNOC Exploration Corporation - Philippines
- Sindya Power Generating Company Private Ltd
- International Coal Ventures Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Electricity Generating Authority of Thailand
- Bangladesh Power Developement Board
- Mjunction Services Limited - India
- GVK Power & Infra Limited - India
- Iligan Light & Power Inc, Philippines
- Power Finance Corporation Ltd., India
- Edison Trading Spa - Italy
- Kalimantan Lumbung Energi - Indonesia
- Coalindo Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Economic Council, Georgia
- Bahari Cakrawala Sebuku - Indonesia
- Meralco Power Generation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Meenaskhi Energy Private Limited - India
- Straits Asia Resources Limited - Singapore
- Carbofer General Trading SA - India
- Oldendorff Carriers - Singapore
- Merrill Lynch Commodities Europe
- Renaissance Capital - South Africa
- Rashtriya Ispat Nigam Limited - India
- Bhushan Steel Limited - India
- Planning Commission, India
- Semirara Mining and Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Tata Chemicals Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Georgia Ports Authority, United States
- Billiton Holdings Pty Ltd - Australia
- Siam City Cement - Thailand
- Goldman Sachs - Singapore
- Bharathi Cement Corporation - India
- Indogreen Group - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
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