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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, 24 December 11
CHINAS LEVEL OF GROWTH TO DETERMINE COURSE OF DRY BULK MARKET IN 2012 SAYS SHIPBROKER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
In its latest report, shipbroker Intermodal attempted to find a silver lining in the tough year that was 2011, as well as what one could expect from ...
Friday, 23 December 11
SPOT PACIFIC CAPESIZE VESSELS HAVE COMMANDED HIGH PREMIUMS - FEARNLEYS
Handy
Rates in the Atlantic kept stable from last week, with a touch of negativity closer to the end. Less spot cargoes seen, and owners are ...
Friday, 23 December 11
CONTENTIOUS ISSUES IN CONTRACT RENEGOTIATION - THE JAKARTA POST
The government has been renegotiating mining contracts, especially those 30-40 years old, with almost all mining companies, including PT Freeport In ...
Friday, 23 December 11
LANCO JOINS HANDS WITH BUKIT ASAM FOR INDONESIAN POWER PROJECT
COALspot.com - PT Tambang Batubara Bukit Asam, Indonesia's state owned coal miner and Indian based Lanco Infratech Ltd plans to build steam power p ...
Thursday, 22 December 11
RI WILL NOT PLAY CATCH-UP WITH GLOBAL COAL DEMAND - THE JAKARTA POST
The Jakarta Post reported that, the International Energy Agency (IEA) has predicted in its Coal Market Report 2011 that over the next five years, gl ...
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- GAC Shipping (India) Pvt Ltd
- Billiton Holdings Pty Ltd - Australia
- White Energy Company Limited
- Semirara Mining and Power Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Eastern Coal Council - USA
- Sical Logistics Limited - India
- Rio Tinto Coal - Australia
- GN Power Mariveles Coal Plant, Philippines
- Kartika Selabumi Mining - Indonesia
- ASAPP Information Group - India
- SMG Consultants - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Ambuja Cements Ltd - India
- Timah Investasi Mineral - Indoneisa
- Miang Besar Coal Terminal - Indonesia
- Merrill Lynch Commodities Europe
- South Luzon Thermal Energy Corporation
- Siam City Cement - Thailand
- Energy Development Corp, Philippines
- Globalindo Alam Lestari - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Singapore Mercantile Exchange
- Oldendorff Carriers - Singapore
- GMR Energy Limited - India
- Videocon Industries ltd - India
- Australian Coal Association
- Indian Energy Exchange, India
- Thiess Contractors Indonesia
- Chettinad Cement Corporation Ltd - India
- Coalindo Energy - Indonesia
- Standard Chartered Bank - UAE
- Therma Luzon, Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Metalloyd Limited - United Kingdom
- Bulk Trading Sa - Switzerland
- Romanian Commodities Exchange
- Samtan Co., Ltd - South Korea
- Orica Mining Services - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Kohat Cement Company Ltd. - Pakistan
- Cement Manufacturers Association - India
- Larsen & Toubro Limited - India
- IEA Clean Coal Centre - UK
- Neyveli Lignite Corporation Ltd, - India
- Aboitiz Power Corporation - Philippines
- Sarangani Energy Corporation, Philippines
- Wood Mackenzie - Singapore
- ICICI Bank Limited - India
- Madhucon Powers Ltd - India
- Kumho Petrochemical, South Korea
- PTC India Limited - India
- Star Paper Mills Limited - India
- Posco Energy - South Korea
- Makarim & Taira - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Agrawal Coal Company - India
- Baramulti Group, Indonesia
- India Bulls Power Limited - India
- Attock Cement Pakistan Limited
- Parry Sugars Refinery, India
- San Jose City I Power Corp, Philippines
- The University of Queensland
- SN Aboitiz Power Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Australian Commodity Traders Exchange
- Essar Steel Hazira Ltd - India
- Mjunction Services Limited - India
- International Coal Ventures Pvt Ltd - India
- Heidelberg Cement - Germany
- Global Business Power Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Global Coal Blending Company Limited - Australia
- Malabar Cements Ltd - India
- Bukit Makmur.PT - Indonesia
- Semirara Mining Corp, Philippines
- Karaikal Port Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- SMC Global Power, Philippines
- Sindya Power Generating Company Private Ltd
- Goldman Sachs - Singapore
- Uttam Galva Steels Limited - India
- Ministry of Mines - Canada
- Gujarat Sidhee Cement - India
- Bhushan Steel Limited - India
- Kepco SPC Power Corporation, Philippines
- New Zealand Coal & Carbon
- Wilmar Investment Holdings
- Formosa Plastics Group - Taiwan
- Pipit Mutiara Jaya. PT, Indonesia
- Chamber of Mines of South Africa
- European Bulk Services B.V. - Netherlands
- GVK Power & Infra Limited - India
- McConnell Dowell - Australia
- Sinarmas Energy and Mining - Indonesia
- OPG Power Generation Pvt Ltd - India
- Borneo Indobara - Indonesia
- Bhatia International Limited - India
- Edison Trading Spa - Italy
- Kalimantan Lumbung Energi - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Pendopo Energi Batubara - Indonesia
- Savvy Resources Ltd - HongKong
- Jindal Steel & Power Ltd - India
- Dalmia Cement Bharat India
- Ind-Barath Power Infra Limited - India
- Commonwealth Bank - Australia
- TeaM Sual Corporation - Philippines
- Lanco Infratech Ltd - India
- Medco Energi Mining Internasional
- Ministry of Finance - Indonesia
- The Treasury - Australian Government
- Central Java Power - Indonesia
- Mercuria Energy - Indonesia
- Eastern Energy - Thailand
- Rashtriya Ispat Nigam Limited - India
- Minerals Council of Australia
- Georgia Ports Authority, United States
- Indonesian Coal Mining Association
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Transport, Egypt
- Electricity Generating Authority of Thailand
- Bhoruka Overseas - Indonesia
- Iligan Light & Power Inc, Philippines
- Bharathi Cement Corporation - India
- PowerSource Philippines DevCo
- Indogreen Group - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bangladesh Power Developement Board
- LBH Netherlands Bv - Netherlands
- Toyota Tsusho Corporation, Japan
- Petrochimia International Co. Ltd.- Taiwan
- Planning Commission, India
- Energy Link Ltd, New Zealand
- Interocean Group of Companies - India
- Tata Chemicals Ltd - India
- Thai Mozambique Logistica
- Vizag Seaport Private Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Carbofer General Trading SA - India
- Alfred C Toepfer International GmbH - Germany
- Parliament of New Zealand
- Mintek Dendrill Indonesia
- Central Electricity Authority - India
- Vedanta Resources Plc - India
- Riau Bara Harum - Indonesia
- Marubeni Corporation - India
- Port Waratah Coal Services - Australia
- Bayan Resources Tbk. - Indonesia
- CNBM International Corporation - China
- MS Steel International - UAE
- Bank of Tokyo Mitsubishi UFJ Ltd
- Asmin Koalindo Tuhup - Indonesia
- Latin American Coal - Colombia
- Deloitte Consulting - India
- Antam Resourcindo - Indonesia
- IHS Mccloskey Coal Group - USA
- Meenaskhi Energy Private Limited - India
- Straits Asia Resources Limited - Singapore
- Xindia Steels Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Coastal Gujarat Power Limited - India
- Coal and Oil Company - UAE
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Africa Commodities Group - South Africa
- Barasentosa Lestari - Indonesia
- Renaissance Capital - South Africa
- Tamil Nadu electricity Board
- Orica Australia Pty. Ltd.
- Grasim Industreis Ltd - India
- Bukit Baiduri Energy - Indonesia
- Altura Mining Limited, Indonesia
- Salva Resources Pvt Ltd - India
- Indian Oil Corporation Limited
- Jorong Barutama Greston.PT - Indonesia
- Mercator Lines Limited - India
- Trasteel International SA, Italy
- Bahari Cakrawala Sebuku - Indonesia
- VISA Power Limited - India
- Aditya Birla Group - India
- Economic Council, Georgia
- Karbindo Abesyapradhi - Indoneisa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indika Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Simpson Spence & Young - Indonesia
- Independent Power Producers Association of India
- Electricity Authority, New Zealand
- Price Waterhouse Coopers - Russia
- Anglo American - United Kingdom
- Intertek Mineral Services - Indonesia
- Sree Jayajothi Cements Limited - India
- Binh Thuan Hamico - Vietnam
- Kaltim Prima Coal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Sojitz Corporation - Japan
- Petron Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Cigading International Bulk Terminal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- CIMB Investment Bank - Malaysia
- London Commodity Brokers - England
- Meralco Power Generation, Philippines
- The State Trading Corporation of India Ltd
- Sakthi Sugars Limited - India
- Siam City Cement PLC, Thailand
- Jaiprakash Power Ventures ltd
- Power Finance Corporation Ltd., India
- Krishnapatnam Port Company Ltd. - India
- Maheswari Brothers Coal Limited - India
- Global Green Power PLC Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Holcim Trading Pte Ltd - Singapore
- AsiaOL BioFuels Corp., Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Kapuas Tunggal Persada - Indonesia
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