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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, 27 October 11
CAPESIZE REACHING NEW HIGHS - FEARNLEYS
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Wednesday, 26 October 11
MOODYS SEES MORE GROWTH FOR INDONESIAN COAL MINERS - THE JAKARTA GLOBE
The Jakarta Globe reported that, Indonesia’s coal mining industry looks set to grow despite an uncertain global economic outlook, according to ...
Wednesday, 26 October 11
PWCS GLOBAL SHIPPING BENCHMARKING ANALYSIS: RECOVERY IN 2010 BUT GREAT UNCERTAINLY FOR 2011
The recovery of global trade in 2010 to the same levels as 2008 led to an improvement in the overall performance of shipping companies in 2010 compa ...
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- Jindal Steel & Power Ltd - India
- Standard Chartered Bank - UAE
- Australian Commodity Traders Exchange
- Africa Commodities Group - South Africa
- Chamber of Mines of South Africa
- Bhatia International Limited - India
- Independent Power Producers Association of India
- IHS Mccloskey Coal Group - USA
- Indogreen Group - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Orica Australia Pty. Ltd.
- Indika Energy - Indonesia
- Georgia Ports Authority, United States
- Vedanta Resources Plc - India
- India Bulls Power Limited - India
- Sree Jayajothi Cements Limited - India
- Grasim Industreis Ltd - India
- Minerals Council of Australia
- Tata Chemicals Ltd - India
- Australian Coal Association
- Offshore Bulk Terminal Pte Ltd, Singapore
- Essar Steel Hazira Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Rio Tinto Coal - Australia
- MS Steel International - UAE
- Thai Mozambique Logistica
- Global Coal Blending Company Limited - Australia
- Global Business Power Corporation, Philippines
- Interocean Group of Companies - India
- Energy Development Corp, Philippines
- Timah Investasi Mineral - Indoneisa
- Kideco Jaya Agung - Indonesia
- PNOC Exploration Corporation - Philippines
- Electricity Generating Authority of Thailand
- Coalindo Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Samtan Co., Ltd - South Korea
- Maharashtra Electricity Regulatory Commission - India
- Indo Tambangraya Megah - Indonesia
- Power Finance Corporation Ltd., India
- Malabar Cements Ltd - India
- GVK Power & Infra Limited - India
- Mercuria Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Barasentosa Lestari - Indonesia
- Gujarat Sidhee Cement - India
- Miang Besar Coal Terminal - Indonesia
- The State Trading Corporation of India Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Semirara Mining Corp, Philippines
- SMG Consultants - Indonesia
- Cement Manufacturers Association - India
- Marubeni Corporation - India
- London Commodity Brokers - England
- Ind-Barath Power Infra Limited - India
- Central Java Power - Indonesia
- Siam City Cement PLC, Thailand
- Kaltim Prima Coal - Indonesia
- Sical Logistics Limited - India
- Renaissance Capital - South Africa
- Aditya Birla Group - India
- Latin American Coal - Colombia
- Sarangani Energy Corporation, Philippines
- Star Paper Mills Limited - India
- Alfred C Toepfer International GmbH - Germany
- Directorate Of Revenue Intelligence - India
- Semirara Mining and Power Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- ASAPP Information Group - India
- Kobexindo Tractors - Indoneisa
- Madhucon Powers Ltd - India
- Ministry of Mines - Canada
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Antam Resourcindo - Indonesia
- Agrawal Coal Company - India
- White Energy Company Limited
- Price Waterhouse Coopers - Russia
- Kohat Cement Company Ltd. - Pakistan
- Merrill Lynch Commodities Europe
- Central Electricity Authority - India
- Medco Energi Mining Internasional
- Thiess Contractors Indonesia
- Orica Mining Services - Indonesia
- Mintek Dendrill Indonesia
- International Coal Ventures Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Bukit Baiduri Energy - Indonesia
- Ministry of Transport, Egypt
- Edison Trading Spa - Italy
- The University of Queensland
- Straits Asia Resources Limited - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Xindia Steels Limited - India
- Simpson Spence & Young - Indonesia
- Sindya Power Generating Company Private Ltd
- PTC India Limited - India
- Lanco Infratech Ltd - India
- LBH Netherlands Bv - Netherlands
- Neyveli Lignite Corporation Ltd, - India
- Therma Luzon, Inc, Philippines
- Petron Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Kepco SPC Power Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Kumho Petrochemical, South Korea
- Attock Cement Pakistan Limited
- Gujarat Electricity Regulatory Commission - India
- Gujarat Mineral Development Corp Ltd - India
- Intertek Mineral Services - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Tamil Nadu electricity Board
- McConnell Dowell - Australia
- SN Aboitiz Power Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- Bangladesh Power Developement Board
- Cigading International Bulk Terminal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Commonwealth Bank - Australia
- Altura Mining Limited, Indonesia
- Ambuja Cements Ltd - India
- Salva Resources Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Indian Energy Exchange, India
- Energy Link Ltd, New Zealand
- TeaM Sual Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bayan Resources Tbk. - Indonesia
- Deloitte Consulting - India
- Petrochimia International Co. Ltd.- Taiwan
- Toyota Tsusho Corporation, Japan
- Jaiprakash Power Ventures ltd
- Parry Sugars Refinery, India
- Savvy Resources Ltd - HongKong
- TNB Fuel Sdn Bhd - Malaysia
- CIMB Investment Bank - Malaysia
- Siam City Cement - Thailand
- Bukit Makmur.PT - Indonesia
- Posco Energy - South Korea
- Makarim & Taira - Indonesia
- Meenaskhi Energy Private Limited - India
- Eastern Coal Council - USA
- Karbindo Abesyapradhi - Indoneisa
- Carbofer General Trading SA - India
- Anglo American - United Kingdom
- CNBM International Corporation - China
- SMC Global Power, Philippines
- Maheswari Brothers Coal Limited - India
- Wood Mackenzie - Singapore
- Kapuas Tunggal Persada - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- IEA Clean Coal Centre - UK
- Binh Thuan Hamico - Vietnam
- ICICI Bank Limited - India
- Vizag Seaport Private Limited - India
- Ministry of Finance - Indonesia
- Port Waratah Coal Services - Australia
- Karaikal Port Pvt Ltd - India
- Singapore Mercantile Exchange
- Iligan Light & Power Inc, Philippines
- Meralco Power Generation, Philippines
- European Bulk Services B.V. - Netherlands
- Asmin Koalindo Tuhup - Indonesia
- Borneo Indobara - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Sakthi Sugars Limited - India
- Indonesian Coal Mining Association
- Planning Commission, India
- Bharathi Cement Corporation - India
- Wilmar Investment Holdings
- GN Power Mariveles Coal Plant, Philippines
- Economic Council, Georgia
- Parliament of New Zealand
- Videocon Industries ltd - India
- Bhoruka Overseas - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Aboitiz Power Corporation - Philippines
- Jorong Barutama Greston.PT - Indonesia
- VISA Power Limited - India
- New Zealand Coal & Carbon
- Globalindo Alam Lestari - Indonesia
- Mercator Lines Limited - India
- Uttam Galva Steels Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Kalimantan Lumbung Energi - Indonesia
- Pendopo Energi Batubara - Indonesia
- PowerSource Philippines DevCo
- Eastern Energy - Thailand
- Baramulti Group, Indonesia
- Coal and Oil Company - UAE
- GMR Energy Limited - India
- Trasteel International SA, Italy
- The Treasury - Australian Government
- Manunggal Multi Energi - Indonesia
- Mjunction Services Limited - India
- Rashtriya Ispat Nigam Limited - India
- Electricity Authority, New Zealand
- Heidelberg Cement - Germany
- Dalmia Cement Bharat India
- Indian Oil Corporation Limited
- Larsen & Toubro Limited - India
- Sojitz Corporation - Japan
- Coastal Gujarat Power Limited - India
- South Luzon Thermal Energy Corporation
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bhushan Steel Limited - India
- Billiton Holdings Pty Ltd - Australia
- Oldendorff Carriers - Singapore
- San Jose City I Power Corp, Philippines
- Goldman Sachs - Singapore
- Riau Bara Harum - Indonesia
- OPG Power Generation Pvt Ltd - India
- Romanian Commodities Exchange
- AsiaOL BioFuels Corp., Philippines
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