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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, 22 March 12
DRY BULK MARKET KEEPS SURGING, CAPESIZES FALLING - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
In what seems to be an establishing pattern, the dry bulk market has kept its upward momentum, edging closer to the 900 point-mark, but the larger s ...
Wednesday, 21 March 12
BUMA HAS PRODUCED 2.3 MILLION TONS OF COAL IN FEBRUARY 2012
COALspot.com - PT. Delta Dunia Makmur's overburden removal in February 2012 has reached totaled 23.8 million bcm (+2.4% YoY) while coal production ...
Tuesday, 20 March 12
SMALLER DRY BULK VESSELS STILL LEADING DRY BULK MARKET TO HIGHER GROUND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has been growing during the past couple of weeks, but contrary to the usual practice, it’s not the larger Capesizes which ...
Monday, 19 March 12
WEEKLY DRY MARKET OVERVIEW: SMALLER VESSELS LEAD RATES HIGHER - MARIA BERTZELETOU, HELLENIC SHIPPING
The upward trend of the Baltic Dry Index persists strong from the end of February, spurred from the supramax market that offsets the weakness in the ...
Sunday, 18 March 12
BUKIT ASAM'S NET PROFIT IN 2011 ROSE 54% TO US$ 339.56 MILLION
COALspot.com - Company revenue for the period January - December 2011 amounting to Rp 10.6 trillion (approximately US$ 1,164,835,164.84) recorded an ...
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- Semirara Mining Corp, Philippines
- Indika Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Asmin Koalindo Tuhup - Indonesia
- CNBM International Corporation - China
- Meralco Power Generation, Philippines
- Bukit Baiduri Energy - Indonesia
- Mjunction Services Limited - India
- Independent Power Producers Association of India
- Petron Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Standard Chartered Bank - UAE
- Straits Asia Resources Limited - Singapore
- Directorate General of MIneral and Coal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Carbofer General Trading SA - India
- Mercuria Energy - Indonesia
- Madhucon Powers Ltd - India
- Simpson Spence & Young - Indonesia
- Kideco Jaya Agung - Indonesia
- Electricity Generating Authority of Thailand
- Energy Link Ltd, New Zealand
- SMG Consultants - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Gujarat Electricity Regulatory Commission - India
- Heidelberg Cement - Germany
- Semirara Mining and Power Corporation, Philippines
- Minerals Council of Australia
- Central Electricity Authority - India
- Georgia Ports Authority, United States
- Sical Logistics Limited - India
- Planning Commission, India
- The Treasury - Australian Government
- Altura Mining Limited, Indonesia
- Eastern Energy - Thailand
- Manunggal Multi Energi - Indonesia
- Cigading International Bulk Terminal - Indonesia
- IEA Clean Coal Centre - UK
- Binh Thuan Hamico - Vietnam
- Sinarmas Energy and Mining - Indonesia
- PowerSource Philippines DevCo
- Ministry of Mines - Canada
- Wood Mackenzie - Singapore
- Sindya Power Generating Company Private Ltd
- Uttam Galva Steels Limited - India
- Essar Steel Hazira Ltd - India
- Rio Tinto Coal - Australia
- Timah Investasi Mineral - Indoneisa
- Marubeni Corporation - India
- Chamber of Mines of South Africa
- Holcim Trading Pte Ltd - Singapore
- Orica Australia Pty. Ltd.
- Australian Commodity Traders Exchange
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vedanta Resources Plc - India
- Kapuas Tunggal Persada - Indonesia
- South Luzon Thermal Energy Corporation
- Edison Trading Spa - Italy
- Miang Besar Coal Terminal - Indonesia
- PNOC Exploration Corporation - Philippines
- Sojitz Corporation - Japan
- IHS Mccloskey Coal Group - USA
- Siam City Cement PLC, Thailand
- Jorong Barutama Greston.PT - Indonesia
- Singapore Mercantile Exchange
- Kohat Cement Company Ltd. - Pakistan
- SN Aboitiz Power Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Central Java Power - Indonesia
- Samtan Co., Ltd - South Korea
- Offshore Bulk Terminal Pte Ltd, Singapore
- Savvy Resources Ltd - HongKong
- Vizag Seaport Private Limited - India
- Intertek Mineral Services - Indonesia
- LBH Netherlands Bv - Netherlands
- Pendopo Energi Batubara - Indonesia
- Anglo American - United Kingdom
- Energy Development Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
- MS Steel International - UAE
- Riau Bara Harum - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Medco Energi Mining Internasional
- Bangladesh Power Developement Board
- Power Finance Corporation Ltd., India
- Iligan Light & Power Inc, Philippines
- Makarim & Taira - Indonesia
- Malabar Cements Ltd - India
- Grasim Industreis Ltd - India
- Bulk Trading Sa - Switzerland
- Sakthi Sugars Limited - India
- Mintek Dendrill Indonesia
- Star Paper Mills Limited - India
- Global Business Power Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- VISA Power Limited - India
- Rashtriya Ispat Nigam Limited - India
- Port Waratah Coal Services - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Sree Jayajothi Cements Limited - India
- Indo Tambangraya Megah - Indonesia
- Commonwealth Bank - Australia
- Ind-Barath Power Infra Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Global Coal Blending Company Limited - Australia
- Xindia Steels Limited - India
- London Commodity Brokers - England
- Baramulti Group, Indonesia
- CIMB Investment Bank - Malaysia
- Coastal Gujarat Power Limited - India
- ICICI Bank Limited - India
- Parliament of New Zealand
- Eastern Coal Council - USA
- Renaissance Capital - South Africa
- Bukit Asam (Persero) Tbk - Indonesia
- Bhoruka Overseas - Indonesia
- Trasteel International SA, Italy
- Aboitiz Power Corporation - Philippines
- Economic Council, Georgia
- Krishnapatnam Port Company Ltd. - India
- SMC Global Power, Philippines
- Jindal Steel & Power Ltd - India
- Africa Commodities Group - South Africa
- Jaiprakash Power Ventures ltd
- Bhushan Steel Limited - India
- Gujarat Sidhee Cement - India
- TeaM Sual Corporation - Philippines
- Global Green Power PLC Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Borneo Indobara - Indonesia
- San Jose City I Power Corp, Philippines
- Videocon Industries ltd - India
- Romanian Commodities Exchange
- Alfred C Toepfer International GmbH - Germany
- Indogreen Group - Indonesia
- Directorate Of Revenue Intelligence - India
- India Bulls Power Limited - India
- Tata Chemicals Ltd - India
- Salva Resources Pvt Ltd - India
- Dalmia Cement Bharat India
- GAC Shipping (India) Pvt Ltd
- Bahari Cakrawala Sebuku - Indonesia
- GMR Energy Limited - India
- ASAPP Information Group - India
- Indian Energy Exchange, India
- Kartika Selabumi Mining - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Agrawal Coal Company - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indonesian Coal Mining Association
- European Bulk Services B.V. - Netherlands
- Kumho Petrochemical, South Korea
- Barasentosa Lestari - Indonesia
- Aditya Birla Group - India
- Coalindo Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Bharathi Cement Corporation - India
- Banpu Public Company Limited - Thailand
- Bhatia International Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Ministry of Finance - Indonesia
- Coal and Oil Company - UAE
- White Energy Company Limited
- PetroVietnam Power Coal Import and Supply Company
- Kaltim Prima Coal - Indonesia
- GVK Power & Infra Limited - India
- Thiess Contractors Indonesia
- Bukit Makmur.PT - Indonesia
- Chettinad Cement Corporation Ltd - India
- New Zealand Coal & Carbon
- Electricity Authority, New Zealand
- Parry Sugars Refinery, India
- OPG Power Generation Pvt Ltd - India
- Larsen & Toubro Limited - India
- Ministry of Transport, Egypt
- Ambuja Cements Ltd - India
- Tamil Nadu electricity Board
- Latin American Coal - Colombia
- McConnell Dowell - Australia
- Mercator Lines Limited - India
- Thai Mozambique Logistica
- Attock Cement Pakistan Limited
- Cement Manufacturers Association - India
- Metalloyd Limited - United Kingdom
- GN Power Mariveles Coal Plant, Philippines
- Siam City Cement - Thailand
- Kobexindo Tractors - Indoneisa
- Maheswari Brothers Coal Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Toyota Tsusho Corporation, Japan
- Merrill Lynch Commodities Europe
- Formosa Plastics Group - Taiwan
- The University of Queensland
- Kalimantan Lumbung Energi - Indonesia
- Lanco Infratech Ltd - India
- Goldman Sachs - Singapore
- Wilmar Investment Holdings
- The State Trading Corporation of India Ltd
- Orica Mining Services - Indonesia
- Deloitte Consulting - India
- Posco Energy - South Korea
- Karaikal Port Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Oldendorff Carriers - Singapore
- Meenaskhi Energy Private Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Kepco SPC Power Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- PTC India Limited - India
- Indian Oil Corporation Limited
- Interocean Group of Companies - India
- Australian Coal Association
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