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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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Sunday, 23 October 11
CHINA LOOKING TO RESELL INDONESIAN COAL CARGOES - BARCLAYS
Commodity Online reported that, Anecdotal evidence has suggested that China is even looking to resell Indonesian cargoes back into the seaborne coal ...
Saturday, 22 October 11
THE SHORT-PERIOD RATES FOR PANAMAX REMAINED FIRM - CAPT. REDDY
COALspot.com - "The market seemed to slow down a bit this week, and all sectors were down by about One to five percent", said Capt. Reddy, ...
Saturday, 22 October 11
WILL THE PROPOSED 26 PERCENT PROFIT SHARING CLAUSE IN THE MINING BILL SPEED UP THE PRODUCTION OR SCARE AWAY INVESTORS? - DIPESH DIPU
A draft law has been approved by a ministerial panel headed by Finance Minister Pranab Mukherjee of India which, if passed by the Cabinet, will make ...
Saturday, 22 October 11
INDONESIA'S GOLDEN ENERGY SLASHES ITS IPO PRICE - THE JAKARTA GLOBE
The Jakarta Globe reported that, Golden Energy Mines, a coal mining company affiliated with Sinar Mas Group, lowered its target in an initial public ...
Thursday, 20 October 11
CAPESIZE - TUBARAO /QINGDAO BEING FIXED AT STRONG US$ 29.75 PMT
Handy
The Atlantic market is quite steady, and market seems to be around the same levels as last week. Fewer fixtures reported though. ...
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- SMC Global Power, Philippines
- Bhoruka Overseas - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Merrill Lynch Commodities Europe
- Bulk Trading Sa - Switzerland
- Price Waterhouse Coopers - Russia
- Holcim Trading Pte Ltd - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- SN Aboitiz Power Inc, Philippines
- Georgia Ports Authority, United States
- London Commodity Brokers - England
- Cigading International Bulk Terminal - Indonesia
- CNBM International Corporation - China
- Mintek Dendrill Indonesia
- Orica Australia Pty. Ltd.
- Kobexindo Tractors - Indoneisa
- Kalimantan Lumbung Energi - Indonesia
- CIMB Investment Bank - Malaysia
- Eastern Coal Council - USA
- International Coal Ventures Pvt Ltd - India
- Ministry of Finance - Indonesia
- Savvy Resources Ltd - HongKong
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Rio Tinto Coal - Australia
- Antam Resourcindo - Indonesia
- Trasteel International SA, Italy
- Indonesian Coal Mining Association
- Ministry of Transport, Egypt
- GVK Power & Infra Limited - India
- Thiess Contractors Indonesia
- Larsen & Toubro Limited - India
- Interocean Group of Companies - India
- Billiton Holdings Pty Ltd - Australia
- Central Java Power - Indonesia
- Mercator Lines Limited - India
- Barasentosa Lestari - Indonesia
- IEA Clean Coal Centre - UK
- Medco Energi Mining Internasional
- Siam City Cement - Thailand
- Singapore Mercantile Exchange
- Port Waratah Coal Services - Australia
- Vedanta Resources Plc - India
- Semirara Mining Corp, Philippines
- GMR Energy Limited - India
- Miang Besar Coal Terminal - Indonesia
- Straits Asia Resources Limited - Singapore
- Indogreen Group - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Sojitz Corporation - Japan
- Maheswari Brothers Coal Limited - India
- Vizag Seaport Private Limited - India
- Edison Trading Spa - Italy
- Videocon Industries ltd - India
- Semirara Mining and Power Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- South Luzon Thermal Energy Corporation
- Anglo American - United Kingdom
- Sical Logistics Limited - India
- Coalindo Energy - Indonesia
- Altura Mining Limited, Indonesia
- Gujarat Mineral Development Corp Ltd - India
- TeaM Sual Corporation - Philippines
- Ind-Barath Power Infra Limited - India
- Binh Thuan Hamico - Vietnam
- Thai Mozambique Logistica
- Maharashtra Electricity Regulatory Commission - India
- Mercuria Energy - Indonesia
- Siam City Cement PLC, Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Sindya Power Generating Company Private Ltd
- ICICI Bank Limited - India
- Formosa Plastics Group - Taiwan
- TNB Fuel Sdn Bhd - Malaysia
- Aditya Birla Group - India
- San Jose City I Power Corp, Philippines
- Oldendorff Carriers - Singapore
- Rashtriya Ispat Nigam Limited - India
- Sree Jayajothi Cements Limited - India
- Latin American Coal - Colombia
- White Energy Company Limited
- Leighton Contractors Pty Ltd - Australia
- Chettinad Cement Corporation Ltd - India
- Kartika Selabumi Mining - Indonesia
- Electricity Authority, New Zealand
- Planning Commission, India
- Wood Mackenzie - Singapore
- Toyota Tsusho Corporation, Japan
- Wilmar Investment Holdings
- Power Finance Corporation Ltd., India
- Indika Energy - Indonesia
- Baramulti Group, Indonesia
- Goldman Sachs - Singapore
- Banpu Public Company Limited - Thailand
- Kapuas Tunggal Persada - Indonesia
- Pendopo Energi Batubara - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Coastal Gujarat Power Limited - India
- Parliament of New Zealand
- Borneo Indobara - Indonesia
- Standard Chartered Bank - UAE
- Mjunction Services Limited - India
- Dalmia Cement Bharat India
- Aboitiz Power Corporation - Philippines
- Bukit Baiduri Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Bayan Resources Tbk. - Indonesia
- Eastern Energy - Thailand
- Bharathi Cement Corporation - India
- Posco Energy - South Korea
- AsiaOL BioFuels Corp., Philippines
- Energy Development Corp, Philippines
- Bhatia International Limited - India
- Coal and Oil Company - UAE
- Commonwealth Bank - Australia
- Grasim Industreis Ltd - India
- Tamil Nadu electricity Board
- Petron Corporation, Philippines
- The Treasury - Australian Government
- Indo Tambangraya Megah - Indonesia
- Tata Chemicals Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- GAC Shipping (India) Pvt Ltd
- Kaltim Prima Coal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- PTC India Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- New Zealand Coal & Carbon
- Bukit Makmur.PT - Indonesia
- Bhushan Steel Limited - India
- VISA Power Limited - India
- Essar Steel Hazira Ltd - India
- Karaikal Port Pvt Ltd - India
- Parry Sugars Refinery, India
- Lanco Infratech Ltd - India
- Orica Mining Services - Indonesia
- The State Trading Corporation of India Ltd
- Deloitte Consulting - India
- Electricity Generating Authority of Thailand
- Chamber of Mines of South Africa
- Salva Resources Pvt Ltd - India
- Xindia Steels Limited - India
- Indian Energy Exchange, India
- Jindal Steel & Power Ltd - India
- Economic Council, Georgia
- Karbindo Abesyapradhi - Indoneisa
- OPG Power Generation Pvt Ltd - India
- Australian Commodity Traders Exchange
- Carbofer General Trading SA - India
- Bahari Cakrawala Sebuku - Indonesia
- Heidelberg Cement - Germany
- Energy Link Ltd, New Zealand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Global Coal Blending Company Limited - Australia
- Indian Oil Corporation Limited
- Ambuja Cements Ltd - India
- PowerSource Philippines DevCo
- Manunggal Multi Energi - Indonesia
- Simpson Spence & Young - Indonesia
- Star Paper Mills Limited - India
- Africa Commodities Group - South Africa
- India Bulls Power Limited - India
- Ministry of Mines - Canada
- Jorong Barutama Greston.PT - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Renaissance Capital - South Africa
- Directorate Of Revenue Intelligence - India
- Agrawal Coal Company - India
- Directorate General of MIneral and Coal - Indonesia
- MS Steel International - UAE
- Bukit Asam (Persero) Tbk - Indonesia
- Central Electricity Authority - India
- Iligan Light & Power Inc, Philippines
- The University of Queensland
- Independent Power Producers Association of India
- Meralco Power Generation, Philippines
- Therma Luzon, Inc, Philippines
- Kideco Jaya Agung - Indonesia
- ASAPP Information Group - India
- Attock Cement Pakistan Limited
- Alfred C Toepfer International GmbH - Germany
- Sarangani Energy Corporation, Philippines
- Bangladesh Power Developement Board
- McConnell Dowell - Australia
- Gujarat Sidhee Cement - India
- SMG Consultants - Indonesia
- Malabar Cements Ltd - India
- Meenaskhi Energy Private Limited - India
- Jaiprakash Power Ventures ltd
- Global Green Power PLC Corporation, Philippines
- Riau Bara Harum - Indonesia
- Uttam Galva Steels Limited - India
- Madhucon Powers Ltd - India
- Makarim & Taira - Indonesia
- Kumho Petrochemical, South Korea
- Globalindo Alam Lestari - Indonesia
- Sakthi Sugars Limited - India
- Romanian Commodities Exchange
- Krishnapatnam Port Company Ltd. - India
- Samtan Co., Ltd - South Korea
- Gujarat Electricity Regulatory Commission - India
- Timah Investasi Mineral - Indoneisa
- European Bulk Services B.V. - Netherlands
- Australian Coal Association
- Cement Manufacturers Association - India
- LBH Netherlands Bv - Netherlands
- Minerals Council of Australia
- Petrochimia International Co. Ltd.- Taiwan
- PNOC Exploration Corporation - Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Marubeni Corporation - India
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