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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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Thursday, 03 May 12
DRY BULK MARKET REMAINS INACTIVE, POSTING MILD DECREASE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has kept retreating this week, although at a very low pace, on the back of a lull in demand. The industry's benchmark, th ...
Thursday, 03 May 12
MINERS DEMAND LEGAL CERTAINTY ON PRE-BAN INTERIM POLICY - THE JAKARTA POST
The Jakarta Post reported that, Mining companies represented by the Indonesian Mining Association (IMA) welcomed the government’s plan to impo ...
Thursday, 03 May 12
HANDY EAST COAST INDIA - CHINA AROUND USD 7000 - FEARNLEYS AS
Handy - Stable demand in the Atlantic offered good rates for the tonnage.
USG/Cont was worth USD 17500 and more. Baltic and Black Sea appeared to ...
Wednesday, 02 May 12
CHINA BLACKOUTS HIGHLIGHT PRICING POLICY WEAKNESS - FITCH
Fitch reported that, the likelihood of further electricity blackouts in China this summer underlines Fitch's view of the basic problem f ...
Tuesday, 01 May 12
VIETNAM FEARS IT MAY NOT SEEK COAL SUPPLIES - TBKTSG / VIETNAMNET BRIDGE
TBKTSG / VietNamNet Bridge reported that, with five coal-run thermopower plants under construction, PetroVietnam alone would need 18 million tons of ...
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- ICICI Bank Limited - India
- Parliament of New Zealand
- Borneo Indobara - Indonesia
- Semirara Mining Corp, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- IEA Clean Coal Centre - UK
- Directorate General of MIneral and Coal - Indonesia
- Formosa Plastics Group - Taiwan
- Kapuas Tunggal Persada - Indonesia
- Timah Investasi Mineral - Indoneisa
- Maheswari Brothers Coal Limited - India
- Miang Besar Coal Terminal - Indonesia
- Goldman Sachs - Singapore
- Sakthi Sugars Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Georgia Ports Authority, United States
- Coal and Oil Company - UAE
- Energy Development Corp, Philippines
- Thiess Contractors Indonesia
- Eastern Energy - Thailand
- Bayan Resources Tbk. - Indonesia
- Aditya Birla Group - India
- Mercator Lines Limited - India
- Cement Manufacturers Association - India
- Independent Power Producers Association of India
- Meenaskhi Energy Private Limited - India
- Malabar Cements Ltd - India
- Straits Asia Resources Limited - Singapore
- The State Trading Corporation of India Ltd
- Simpson Spence & Young - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Alfred C Toepfer International GmbH - Germany
- PTC India Limited - India
- The University of Queensland
- Agrawal Coal Company - India
- Barasentosa Lestari - Indonesia
- Salva Resources Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Kepco SPC Power Corporation, Philippines
- Electricity Authority, New Zealand
- Attock Cement Pakistan Limited
- Neyveli Lignite Corporation Ltd, - India
- Central Electricity Authority - India
- Lanco Infratech Ltd - India
- Bulk Trading Sa - Switzerland
- TeaM Sual Corporation - Philippines
- Renaissance Capital - South Africa
- Bukit Baiduri Energy - Indonesia
- Uttam Galva Steels Limited - India
- Petron Corporation, Philippines
- Riau Bara Harum - Indonesia
- Tata Chemicals Ltd - India
- The Treasury - Australian Government
- Bhushan Steel Limited - India
- Indian Energy Exchange, India
- Billiton Holdings Pty Ltd - Australia
- Commonwealth Bank - Australia
- Altura Mining Limited, Indonesia
- Eastern Coal Council - USA
- Grasim Industreis Ltd - India
- Siam City Cement - Thailand
- New Zealand Coal & Carbon
- Therma Luzon, Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Bhoruka Overseas - Indonesia
- Mjunction Services Limited - India
- OPG Power Generation Pvt Ltd - India
- Africa Commodities Group - South Africa
- Global Coal Blending Company Limited - Australia
- Energy Link Ltd, New Zealand
- Standard Chartered Bank - UAE
- Larsen & Toubro Limited - India
- Sojitz Corporation - Japan
- Videocon Industries ltd - India
- Vizag Seaport Private Limited - India
- Ceylon Electricity Board - Sri Lanka
- London Commodity Brokers - England
- Jindal Steel & Power Ltd - India
- Mintek Dendrill Indonesia
- European Bulk Services B.V. - Netherlands
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Carbofer General Trading SA - India
- Posco Energy - South Korea
- Kalimantan Lumbung Energi - Indonesia
- Latin American Coal - Colombia
- International Coal Ventures Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Essar Steel Hazira Ltd - India
- Intertek Mineral Services - Indonesia
- Bhatia International Limited - India
- Singapore Mercantile Exchange
- GN Power Mariveles Coal Plant, Philippines
- Australian Commodity Traders Exchange
- Rashtriya Ispat Nigam Limited - India
- Metalloyd Limited - United Kingdom
- Chettinad Cement Corporation Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Pendopo Energi Batubara - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Asmin Koalindo Tuhup - Indonesia
- SN Aboitiz Power Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Romanian Commodities Exchange
- Global Business Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Planning Commission, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- SMC Global Power, Philippines
- Port Waratah Coal Services - Australia
- Rio Tinto Coal - Australia
- Medco Energi Mining Internasional
- Krishnapatnam Port Company Ltd. - India
- Indian Oil Corporation Limited
- Jorong Barutama Greston.PT - Indonesia
- Samtan Co., Ltd - South Korea
- Deloitte Consulting - India
- Bahari Cakrawala Sebuku - Indonesia
- Sindya Power Generating Company Private Ltd
- Kobexindo Tractors - Indoneisa
- Banpu Public Company Limited - Thailand
- Bukit Makmur.PT - Indonesia
- Kartika Selabumi Mining - Indonesia
- Siam City Cement PLC, Thailand
- South Luzon Thermal Energy Corporation
- Merrill Lynch Commodities Europe
- Star Paper Mills Limited - India
- Indika Energy - Indonesia
- Indogreen Group - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Interocean Group of Companies - India
- Chamber of Mines of South Africa
- Directorate Of Revenue Intelligence - India
- MS Steel International - UAE
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Aboitiz Power Corporation - Philippines
- Global Green Power PLC Corporation, Philippines
- Economic Council, Georgia
- VISA Power Limited - India
- Makarim & Taira - Indonesia
- ASAPP Information Group - India
- Anglo American - United Kingdom
- Wood Mackenzie - Singapore
- PowerSource Philippines DevCo
- Ministry of Mines - Canada
- Iligan Light & Power Inc, Philippines
- Ministry of Finance - Indonesia
- Kumho Petrochemical, South Korea
- Ind-Barath Power Infra Limited - India
- Gujarat Electricity Regulatory Commission - India
- Orica Australia Pty. Ltd.
- Trasteel International SA, Italy
- Indo Tambangraya Megah - Indonesia
- Globalindo Alam Lestari - Indonesia
- Australian Coal Association
- SMG Consultants - Indonesia
- Antam Resourcindo - Indonesia
- Edison Trading Spa - Italy
- Binh Thuan Hamico - Vietnam
- GAC Shipping (India) Pvt Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- McConnell Dowell - Australia
- Karbindo Abesyapradhi - Indoneisa
- Karaikal Port Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Bangladesh Power Developement Board
- Coalindo Energy - Indonesia
- India Bulls Power Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Dalmia Cement Bharat India
- Manunggal Multi Energi - Indonesia
- Ministry of Transport, Egypt
- Leighton Contractors Pty Ltd - Australia
- Kaltim Prima Coal - Indonesia
- Power Finance Corporation Ltd., India
- Maharashtra Electricity Regulatory Commission - India
- Tamil Nadu electricity Board
- Coastal Gujarat Power Limited - India
- Heidelberg Cement - Germany
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Toyota Tsusho Corporation, Japan
- CNBM International Corporation - China
- CIMB Investment Bank - Malaysia
- Minerals Council of Australia
- IHS Mccloskey Coal Group - USA
- PNOC Exploration Corporation - Philippines
- Sree Jayajothi Cements Limited - India
- Xindia Steels Limited - India
- Bharathi Cement Corporation - India
- Savvy Resources Ltd - HongKong
- Thai Mozambique Logistica
- GVK Power & Infra Limited - India
- Meralco Power Generation, Philippines
- Gujarat Sidhee Cement - India
- Ambuja Cements Ltd - India
- GMR Energy Limited - India
- Kideco Jaya Agung - Indonesia
- Indonesian Coal Mining Association
- White Energy Company Limited
- Oldendorff Carriers - Singapore
- Sinarmas Energy and Mining - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Central Java Power - Indonesia
- Wilmar Investment Holdings
- Price Waterhouse Coopers - Russia
- Electricity Generating Authority of Thailand
- Orica Mining Services - Indonesia
- LBH Netherlands Bv - Netherlands
- PetroVietnam Power Coal Import and Supply Company
- Baramulti Group, Indonesia
- Parry Sugars Refinery, India
- Marubeni Corporation - India
- Sarangani Energy Corporation, Philippines
- Madhucon Powers Ltd - India
- Mercuria Energy - Indonesia
- Sical Logistics Limited - India
- Vedanta Resources Plc - India
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