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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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Friday, 25 November 11
DISPUTE BETWEEN GIANT MINING FIRMS ENDS IN LAHAT - THE JAKARTA POST
The Jakarta Post reported that, prolonged dispute taking place in the South Sumatra regency of Lahat and involving two giant mining companies PT Buk ...
Friday, 25 November 11
DRY BULK MARKET LOSING STEAM, FAST - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
It’s been a week of falls for the dry bulk market this one, leaving ship owners with a sour taste in their mouths, as evidence of a recovery i ...
Thursday, 24 November 11
INDONESIA/INDIA SPMX TC AROUND $ 7/8K AND AROUND $ 12/13.00 PMTS ON VOYAGE BASIS - FEARNLEYS
Handy
Last week ended on a positive note in the Atlantic however the activity levels are somewhat reduced. Owners are asking in excess of USD ...
Thursday, 24 November 11
DRY BULK MARKET KEEPS LOSING STEAM - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market was lower once again on Wednesday, with the industry’s benchmark, the Baltic Dry Index (BDI) ending the session down by 1. ...
Tuesday, 22 November 11
NTPC TO BUY 2 MMT OF IMPORTED COAL FOR ITS FOUR PLANTS
COALspot.com - NTPC Limited, incorporated in 1975 as a public sector company wholly owned by Government of India, the largest thermal power generati ...
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- Bulk Trading Sa - Switzerland
- OPG Power Generation Pvt Ltd - India
- Star Paper Mills Limited - India
- Commonwealth Bank - Australia
- Mercuria Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Energy Development Corp, Philippines
- Thiess Contractors Indonesia
- Coalindo Energy - Indonesia
- Agrawal Coal Company - India
- ASAPP Information Group - India
- Miang Besar Coal Terminal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Dalmia Cement Bharat India
- Tamil Nadu electricity Board
- Sarangani Energy Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Indonesian Coal Mining Association
- Ministry of Transport, Egypt
- Sree Jayajothi Cements Limited - India
- Cigading International Bulk Terminal - Indonesia
- Australian Coal Association
- Carbofer General Trading SA - India
- Minerals Council of Australia
- Planning Commission, India
- Uttam Galva Steels Limited - India
- Siam City Cement PLC, Thailand
- Chamber of Mines of South Africa
- Standard Chartered Bank - UAE
- Sindya Power Generating Company Private Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- The University of Queensland
- Directorate General of MIneral and Coal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Essar Steel Hazira Ltd - India
- Formosa Plastics Group - Taiwan
- Medco Energi Mining Internasional
- Vedanta Resources Plc - India
- Meenaskhi Energy Private Limited - India
- Sojitz Corporation - Japan
- Kobexindo Tractors - Indoneisa
- Savvy Resources Ltd - HongKong
- Larsen & Toubro Limited - India
- Posco Energy - South Korea
- TeaM Sual Corporation - Philippines
- Vizag Seaport Private Limited - India
- Semirara Mining Corp, Philippines
- Chettinad Cement Corporation Ltd - India
- Marubeni Corporation - India
- Thai Mozambique Logistica
- Global Green Power PLC Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Meralco Power Generation, Philippines
- Global Coal Blending Company Limited - Australia
- Kapuas Tunggal Persada - Indonesia
- Economic Council, Georgia
- IHS Mccloskey Coal Group - USA
- IEA Clean Coal Centre - UK
- Singapore Mercantile Exchange
- Edison Trading Spa - Italy
- Price Waterhouse Coopers - Russia
- Orica Mining Services - Indonesia
- Riau Bara Harum - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Energy Link Ltd, New Zealand
- The Treasury - Australian Government
- Makarim & Taira - Indonesia
- Central Java Power - Indonesia
- Bukit Baiduri Energy - Indonesia
- Barasentosa Lestari - Indonesia
- Antam Resourcindo - Indonesia
- Rio Tinto Coal - Australia
- Bhushan Steel Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Samtan Co., Ltd - South Korea
- Bhatia International Limited - India
- Maheswari Brothers Coal Limited - India
- Kohat Cement Company Ltd. - Pakistan
- GN Power Mariveles Coal Plant, Philippines
- Renaissance Capital - South Africa
- New Zealand Coal & Carbon
- PNOC Exploration Corporation - Philippines
- Mjunction Services Limited - India
- Interocean Group of Companies - India
- Metalloyd Limited - United Kingdom
- Iligan Light & Power Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- Trasteel International SA, Italy
- Bank of Tokyo Mitsubishi UFJ Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Independent Power Producers Association of India
- Merrill Lynch Commodities Europe
- GMR Energy Limited - India
- Baramulti Group, Indonesia
- Ambuja Cements Ltd - India
- PowerSource Philippines DevCo
- Tata Chemicals Ltd - India
- Malabar Cements Ltd - India
- Attock Cement Pakistan Limited
- South Luzon Thermal Energy Corporation
- Port Waratah Coal Services - Australia
- Sakthi Sugars Limited - India
- Rashtriya Ispat Nigam Limited - India
- International Coal Ventures Pvt Ltd - India
- Lanco Infratech Ltd - India
- Videocon Industries ltd - India
- Central Electricity Authority - India
- India Bulls Power Limited - India
- Karbindo Abesyapradhi - Indoneisa
- European Bulk Services B.V. - Netherlands
- Oldendorff Carriers - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Bukit Asam (Persero) Tbk - Indonesia
- Ministry of Mines - Canada
- Cement Manufacturers Association - India
- Wilmar Investment Holdings
- Orica Australia Pty. Ltd.
- Petrochimia International Co. Ltd.- Taiwan
- The State Trading Corporation of India Ltd
- Kartika Selabumi Mining - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Power Finance Corporation Ltd., India
- White Energy Company Limited
- Globalindo Alam Lestari - Indonesia
- Timah Investasi Mineral - Indoneisa
- LBH Netherlands Bv - Netherlands
- AsiaOL BioFuels Corp., Philippines
- Alfred C Toepfer International GmbH - Germany
- Anglo American - United Kingdom
- Indian Oil Corporation Limited
- ICICI Bank Limited - India
- Parliament of New Zealand
- Australian Commodity Traders Exchange
- Latin American Coal - Colombia
- SN Aboitiz Power Inc, Philippines
- Siam City Cement - Thailand
- Georgia Ports Authority, United States
- Eastern Energy - Thailand
- Gujarat Mineral Development Corp Ltd - India
- Eastern Coal Council - USA
- Karaikal Port Pvt Ltd - India
- Coal and Oil Company - UAE
- London Commodity Brokers - England
- Bhoruka Overseas - Indonesia
- Bharathi Cement Corporation - India
- Manunggal Multi Energi - Indonesia
- Kumho Petrochemical, South Korea
- Holcim Trading Pte Ltd - Singapore
- Sinarmas Energy and Mining - Indonesia
- Madhucon Powers Ltd - India
- MS Steel International - UAE
- Pipit Mutiara Jaya. PT, Indonesia
- CNBM International Corporation - China
- SMC Global Power, Philippines
- Straits Asia Resources Limited - Singapore
- Mintek Dendrill Indonesia
- Ceylon Electricity Board - Sri Lanka
- Bangladesh Power Developement Board
- TNB Fuel Sdn Bhd - Malaysia
- Indian Energy Exchange, India
- Pendopo Energi Batubara - Indonesia
- McConnell Dowell - Australia
- Sical Logistics Limited - India
- Indika Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Electricity Authority, New Zealand
- Altura Mining Limited, Indonesia
- Jaiprakash Power Ventures ltd
- Electricity Generating Authority of Thailand
- CIMB Investment Bank - Malaysia
- Kepco SPC Power Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Jindal Steel & Power Ltd - India
- Salva Resources Pvt Ltd - India
- Deloitte Consulting - India
- Petron Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Toyota Tsusho Corporation, Japan
- Gujarat Sidhee Cement - India
- Coastal Gujarat Power Limited - India
- Goldman Sachs - Singapore
- Grasim Industreis Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Heidelberg Cement - Germany
- Simpson Spence & Young - Indonesia
- Parry Sugars Refinery, India
- Aditya Birla Group - India
- Ind-Barath Power Infra Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Global Business Power Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Kideco Jaya Agung - Indonesia
- Kaltim Prima Coal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Mercator Lines Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Finance - Indonesia
- Wood Mackenzie - Singapore
- Intertek Mineral Services - Indonesia
- Banpu Public Company Limited - Thailand
- Africa Commodities Group - South Africa
- Semirara Mining and Power Corporation, Philippines
- PTC India Limited - India
- Bukit Makmur.PT - Indonesia
- VISA Power Limited - India
- SMG Consultants - Indonesia
- Indogreen Group - Indonesia
- Borneo Indobara - Indonesia
- GAC Shipping (India) Pvt Ltd
- Romanian Commodities Exchange
- Billiton Holdings Pty Ltd - Australia
- GVK Power & Infra Limited - India
- Xindia Steels Limited - India
- Directorate Of Revenue Intelligence - India
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