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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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Monday, 12 March 12
DRY BULK RATES WILL REMAIN LOW IN 2012 SAYS DANISH SHIP FINANCE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
In its annual shipping survey Danish Ship Finance said that the current outlook for the Dry Bulk market seems unlikely to foster higher rates in any ...
Monday, 12 March 12
WEEKLY DRY MARKET OVERVIEW - MARIA BERTZELETOU, HELLENIC SHIPPING
The first days of March appear to be more encouraging for dry bulk operators, but the outlook is still gloomy for the rest of year with earnings for ...
Sunday, 11 March 12
FREIGHT RATES FOR INDONESIA TO INDIA WILL CONTINUE TO REMAIN FIRM- VISTAAR
COALspot.com - This week saw another upward trend with all indices up except for the Cape index.
The BDI was up by 6.87 pct closing at 824 points ...
Friday, 09 March 12
MINING IN INDONESIA: RESTRICTION ON FOREIGN INVESTMENT - SUNIL K KUMBHAT
COALspot.com - Recently Govt has passed regulation instructing foreign mining companies to reduce their ownership stake.
The regulation known as ...
Friday, 09 March 12
SHIP OWNERS LOOKING TO CHINA FOR REVIVAL, WHILE THEY KEEP SELLING OLD SHIPS FOR SCRAP - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With China’s economic policy plan for the future on every ship owner’s mind, at least those involved in the dry bulk industry, the lates ...
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- Latin American Coal - Colombia
- Indogreen Group - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Samtan Co., Ltd - South Korea
- IEA Clean Coal Centre - UK
- Neyveli Lignite Corporation Ltd, - India
- Xindia Steels Limited - India
- Interocean Group of Companies - India
- PetroVietnam Power Coal Import and Supply Company
- Electricity Generating Authority of Thailand
- Kartika Selabumi Mining - Indonesia
- New Zealand Coal & Carbon
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GMR Energy Limited - India
- Kideco Jaya Agung - Indonesia
- Gujarat Sidhee Cement - India
- Sical Logistics Limited - India
- MS Steel International - UAE
- Binh Thuan Hamico - Vietnam
- Tata Chemicals Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bulk Trading Sa - Switzerland
- South Luzon Thermal Energy Corporation
- Coalindo Energy - Indonesia
- Parry Sugars Refinery, India
- Thai Mozambique Logistica
- Indian Oil Corporation Limited
- Coastal Gujarat Power Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Bahari Cakrawala Sebuku - Indonesia
- Kaltim Prima Coal - Indonesia
- Directorate Of Revenue Intelligence - India
- Siam City Cement - Thailand
- Rashtriya Ispat Nigam Limited - India
- Energy Development Corp, Philippines
- Baramulti Group, Indonesia
- Australian Coal Association
- Kohat Cement Company Ltd. - Pakistan
- Tamil Nadu electricity Board
- Miang Besar Coal Terminal - Indonesia
- White Energy Company Limited
- Ministry of Transport, Egypt
- Aditya Birla Group - India
- Metalloyd Limited - United Kingdom
- Mintek Dendrill Indonesia
- SMG Consultants - Indonesia
- Madhucon Powers Ltd - India
- San Jose City I Power Corp, Philippines
- Billiton Holdings Pty Ltd - Australia
- Dalmia Cement Bharat India
- CIMB Investment Bank - Malaysia
- Therma Luzon, Inc, Philippines
- Agrawal Coal Company - India
- Posco Energy - South Korea
- PowerSource Philippines DevCo
- Bhushan Steel Limited - India
- Bukit Baiduri Energy - Indonesia
- Mercuria Energy - Indonesia
- Vizag Seaport Private Limited - India
- Australian Commodity Traders Exchange
- SN Aboitiz Power Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Anglo American - United Kingdom
- Semirara Mining and Power Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Holcim Trading Pte Ltd - Singapore
- OPG Power Generation Pvt Ltd - India
- The University of Queensland
- Renaissance Capital - South Africa
- Georgia Ports Authority, United States
- Cement Manufacturers Association - India
- Economic Council, Georgia
- Sindya Power Generating Company Private Ltd
- Borneo Indobara - Indonesia
- Orica Australia Pty. Ltd.
- Toyota Tsusho Corporation, Japan
- Gujarat Electricity Regulatory Commission - India
- Grasim Industreis Ltd - India
- LBH Netherlands Bv - Netherlands
- Leighton Contractors Pty Ltd - Australia
- VISA Power Limited - India
- Central Java Power - Indonesia
- Makarim & Taira - Indonesia
- Port Waratah Coal Services - Australia
- Indian Energy Exchange, India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Goldman Sachs - Singapore
- The Treasury - Australian Government
- Trasteel International SA, Italy
- Karaikal Port Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Bayan Resources Tbk. - Indonesia
- PNOC Exploration Corporation - Philippines
- Formosa Plastics Group - Taiwan
- Rio Tinto Coal - Australia
- Directorate General of MIneral and Coal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Globalindo Alam Lestari - Indonesia
- Vedanta Resources Plc - India
- Sojitz Corporation - Japan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mjunction Services Limited - India
- Singapore Mercantile Exchange
- Sarangani Energy Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Commonwealth Bank - Australia
- Bangladesh Power Developement Board
- Maharashtra Electricity Regulatory Commission - India
- Intertek Mineral Services - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Minerals Council of Australia
- Mercator Lines Limited - India
- Videocon Industries ltd - India
- Indonesian Coal Mining Association
- Romanian Commodities Exchange
- Deloitte Consulting - India
- PTC India Limited - India
- Indo Tambangraya Megah - Indonesia
- Africa Commodities Group - South Africa
- McConnell Dowell - Australia
- Marubeni Corporation - India
- Sree Jayajothi Cements Limited - India
- Planning Commission, India
- Wood Mackenzie - Singapore
- Meralco Power Generation, Philippines
- Lanco Infratech Ltd - India
- Chettinad Cement Corporation Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Ministry of Mines - Canada
- Ambuja Cements Ltd - India
- European Bulk Services B.V. - Netherlands
- Central Electricity Authority - India
- Gujarat Mineral Development Corp Ltd - India
- Edison Trading Spa - Italy
- Kalimantan Lumbung Energi - Indonesia
- IHS Mccloskey Coal Group - USA
- Power Finance Corporation Ltd., India
- The State Trading Corporation of India Ltd
- CNBM International Corporation - China
- Heidelberg Cement - Germany
- Semirara Mining Corp, Philippines
- Malabar Cements Ltd - India
- Bhatia International Limited - India
- Kobexindo Tractors - Indoneisa
- Standard Chartered Bank - UAE
- Ministry of Finance - Indonesia
- Parliament of New Zealand
- Indika Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- Jindal Steel & Power Ltd - India
- Manunggal Multi Energi - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Eastern Coal Council - USA
- Bank of Tokyo Mitsubishi UFJ Ltd
- Altura Mining Limited, Indonesia
- ICICI Bank Limited - India
- Ind-Barath Power Infra Limited - India
- Independent Power Producers Association of India
- Carbofer General Trading SA - India
- Thiess Contractors Indonesia
- Oldendorff Carriers - Singapore
- Savvy Resources Ltd - HongKong
- Eastern Energy - Thailand
- Price Waterhouse Coopers - Russia
- Kapuas Tunggal Persada - Indonesia
- Global Coal Blending Company Limited - Australia
- Maheswari Brothers Coal Limited - India
- Energy Link Ltd, New Zealand
- Attock Cement Pakistan Limited
- GAC Shipping (India) Pvt Ltd
- Barasentosa Lestari - Indonesia
- London Commodity Brokers - England
- Orica Mining Services - Indonesia
- Global Business Power Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Jaiprakash Power Ventures ltd
- Siam City Cement PLC, Thailand
- International Coal Ventures Pvt Ltd - India
- Merrill Lynch Commodities Europe
- India Bulls Power Limited - India
- Coal and Oil Company - UAE
- Medco Energi Mining Internasional
- Sakthi Sugars Limited - India
- Bharathi Cement Corporation - India
- Kumho Petrochemical, South Korea
- TeaM Sual Corporation - Philippines
- Timah Investasi Mineral - Indoneisa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Banpu Public Company Limited - Thailand
- Larsen & Toubro Limited - India
- Salva Resources Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Chamber of Mines of South Africa
- Asmin Koalindo Tuhup - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Straits Asia Resources Limited - Singapore
- Simpson Spence & Young - Indonesia
- Iligan Light & Power Inc, Philippines
- Riau Bara Harum - Indonesia
- Wilmar Investment Holdings
- Petron Corporation, Philippines
- SMC Global Power, Philippines
- Essar Steel Hazira Ltd - India
- Meenaskhi Energy Private Limited - India
- GVK Power & Infra Limited - India
- ASAPP Information Group - India
- Uttam Galva Steels Limited - India
- Alfred C Toepfer International GmbH - Germany
- TNB Fuel Sdn Bhd - Malaysia
- Global Green Power PLC Corporation, Philippines
- Antam Resourcindo - Indonesia
- Star Paper Mills Limited - India
- Kepco SPC Power Corporation, Philippines
- Electricity Authority, New Zealand
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