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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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Wednesday, 26 October 11
INDIAN MARKET WAS REMAINED TIGHT THE WHOLE LAST WEEK - BRS
The market once more seems to be at a crossroads. The indices last week remained fairly stable (except for the Panamax sector), ending the week as f ...
Tuesday, 25 October 11
DRY BULK MARKET STEADY, ANALYSTS LOOKING FOR ADDED PRESSURE ON THE MARKET - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market was unchanged on Monday, with the industry’s benchmark, the BDI (Baltic Dry Index) ending the session at 2,153 points, exa ...
Monday, 24 October 11
NEW HEAD OF INDONESIA'S MINING MINISTRY GETS RAKED OVER THE COALS - JOSEPH KIRSCHKE
COALspot.com - Following Indonesia’s presidential cabinet shakeup last week, many are questioning the qualifications of Energy and Mineral Res ...
Monday, 24 October 11
CHINA QINHUANGDAO COAL PRICE RISES TO HIGHEST IN THREE YEARS - BUSINESSWEEK
Business week reported that, China’s power-station coal price rose to the highest level in three years as power stations and central heating p ...
Monday, 24 October 11
CAPESIZE RENTAL RATES RISE FOR THIRD DAY AS MORE SHIPS HIRED - HELLENIC SHIPPING
Rates to hire capesize vessels advanced for a third day on signs of increased demand to transport iron ore, used to make steel.Daily rates for the s ...
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- Siam City Cement - Thailand
- Bukit Baiduri Energy - Indonesia
- Uttam Galva Steels Limited - India
- Deloitte Consulting - India
- Eastern Energy - Thailand
- Sical Logistics Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Indogreen Group - Indonesia
- SN Aboitiz Power Inc, Philippines
- Wood Mackenzie - Singapore
- Bhoruka Overseas - Indonesia
- Meenaskhi Energy Private Limited - India
- TeaM Sual Corporation - Philippines
- IEA Clean Coal Centre - UK
- Borneo Indobara - Indonesia
- Energy Link Ltd, New Zealand
- Economic Council, Georgia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Georgia Ports Authority, United States
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Eastern Coal Council - USA
- White Energy Company Limited
- McConnell Dowell - Australia
- Mercuria Energy - Indonesia
- Minerals Council of Australia
- Malabar Cements Ltd - India
- Simpson Spence & Young - Indonesia
- Altura Mining Limited, Indonesia
- Bukit Makmur.PT - Indonesia
- GAC Shipping (India) Pvt Ltd
- PTC India Limited - India
- Therma Luzon, Inc, Philippines
- Bharathi Cement Corporation - India
- Electricity Generating Authority of Thailand
- Manunggal Multi Energi - Indonesia
- Binh Thuan Hamico - Vietnam
- Kumho Petrochemical, South Korea
- Semirara Mining and Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Aboitiz Power Corporation - Philippines
- Ceylon Electricity Board - Sri Lanka
- Chamber of Mines of South Africa
- Timah Investasi Mineral - Indoneisa
- Essar Steel Hazira Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Thiess Contractors Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Latin American Coal - Colombia
- Globalindo Alam Lestari - Indonesia
- Trasteel International SA, Italy
- Banpu Public Company Limited - Thailand
- Vizag Seaport Private Limited - India
- IHS Mccloskey Coal Group - USA
- Tata Chemicals Ltd - India
- Semirara Mining Corp, Philippines
- Anglo American - United Kingdom
- Parliament of New Zealand
- Price Waterhouse Coopers - Russia
- Kepco SPC Power Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- South Luzon Thermal Energy Corporation
- Videocon Industries ltd - India
- Australian Commodity Traders Exchange
- Dalmia Cement Bharat India
- The State Trading Corporation of India Ltd
- Kohat Cement Company Ltd. - Pakistan
- India Bulls Power Limited - India
- Toyota Tsusho Corporation, Japan
- Bhatia International Limited - India
- Miang Besar Coal Terminal - Indonesia
- Iligan Light & Power Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Standard Chartered Bank - UAE
- Global Green Power PLC Corporation, Philippines
- Indian Energy Exchange, India
- Marubeni Corporation - India
- TNB Fuel Sdn Bhd - Malaysia
- Carbofer General Trading SA - India
- Karbindo Abesyapradhi - Indoneisa
- Bhushan Steel Limited - India
- San Jose City I Power Corp, Philippines
- Ministry of Transport, Egypt
- Interocean Group of Companies - India
- Global Business Power Corporation, Philippines
- Meralco Power Generation, Philippines
- Heidelberg Cement - Germany
- Baramulti Group, Indonesia
- Ind-Barath Power Infra Limited - India
- Attock Cement Pakistan Limited
- Electricity Authority, New Zealand
- VISA Power Limited - India
- Cement Manufacturers Association - India
- Petrochimia International Co. Ltd.- Taiwan
- Maharashtra Electricity Regulatory Commission - India
- Power Finance Corporation Ltd., India
- Siam City Cement PLC, Thailand
- Coastal Gujarat Power Limited - India
- Mjunction Services Limited - India
- Larsen & Toubro Limited - India
- Global Coal Blending Company Limited - Australia
- Bulk Trading Sa - Switzerland
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indika Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Lanco Infratech Ltd - India
- Salva Resources Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- European Bulk Services B.V. - Netherlands
- Merrill Lynch Commodities Europe
- Bukit Asam (Persero) Tbk - Indonesia
- Directorate Of Revenue Intelligence - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Coal and Oil Company - UAE
- Petron Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Asmin Koalindo Tuhup - Indonesia
- Straits Asia Resources Limited - Singapore
- Riau Bara Harum - Indonesia
- ICICI Bank Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Xindia Steels Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Orica Mining Services - Indonesia
- Sindya Power Generating Company Private Ltd
- Commonwealth Bank - Australia
- Maheswari Brothers Coal Limited - India
- SMG Consultants - Indonesia
- Indian Oil Corporation Limited
- Sojitz Corporation - Japan
- Parry Sugars Refinery, India
- Agrawal Coal Company - India
- Tamil Nadu electricity Board
- Vedanta Resources Plc - India
- Antam Resourcindo - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Karaikal Port Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Leighton Contractors Pty Ltd - Australia
- Chettinad Cement Corporation Ltd - India
- Rio Tinto Coal - Australia
- PowerSource Philippines DevCo
- Orica Australia Pty. Ltd.
- Offshore Bulk Terminal Pte Ltd, Singapore
- Central Electricity Authority - India
- International Coal Ventures Pvt Ltd - India
- Mercator Lines Limited - India
- Indo Tambangraya Megah - Indonesia
- Star Paper Mills Limited - India
- Central Java Power - Indonesia
- Kobexindo Tractors - Indoneisa
- Port Waratah Coal Services - Australia
- Sree Jayajothi Cements Limited - India
- Directorate General of MIneral and Coal - Indonesia
- GMR Energy Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Renaissance Capital - South Africa
- Kartika Selabumi Mining - Indonesia
- New Zealand Coal & Carbon
- Ambuja Cements Ltd - India
- PNOC Exploration Corporation - Philippines
- The Treasury - Australian Government
- Energy Development Corp, Philippines
- Krishnapatnam Port Company Ltd. - India
- Sakthi Sugars Limited - India
- Bangladesh Power Developement Board
- Sinarmas Energy and Mining - Indonesia
- Madhucon Powers Ltd - India
- Goldman Sachs - Singapore
- Bayan Resources Tbk. - Indonesia
- Medco Energi Mining Internasional
- Mintek Dendrill Indonesia
- Independent Power Producers Association of India
- Gujarat Electricity Regulatory Commission - India
- LBH Netherlands Bv - Netherlands
- Jindal Steel & Power Ltd - India
- Intertek Mineral Services - Indonesia
- MS Steel International - UAE
- Ministry of Finance - Indonesia
- SMC Global Power, Philippines
- Africa Commodities Group - South Africa
- Edison Trading Spa - Italy
- Kideco Jaya Agung - Indonesia
- The University of Queensland
- ASAPP Information Group - India
- Aditya Birla Group - India
- AsiaOL BioFuels Corp., Philippines
- Posco Energy - South Korea
- Ministry of Mines - Canada
- Indonesian Coal Mining Association
- Thai Mozambique Logistica
- Formosa Plastics Group - Taiwan
- Kaltim Prima Coal - Indonesia
- CNBM International Corporation - China
- Samtan Co., Ltd - South Korea
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coalindo Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Gujarat Sidhee Cement - India
- Holcim Trading Pte Ltd - Singapore
- OPG Power Generation Pvt Ltd - India
- London Commodity Brokers - England
- Wilmar Investment Holdings
- Romanian Commodities Exchange
- Australian Coal Association
- Pendopo Energi Batubara - Indonesia
- Singapore Mercantile Exchange
- GVK Power & Infra Limited - India
- Alfred C Toepfer International GmbH - Germany
- PetroVietnam Power Coal Import and Supply Company
- Savvy Resources Ltd - HongKong
- Makarim & Taira - Indonesia
- Grasim Industreis Ltd - India
- Planning Commission, India
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