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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, 15 October 11
BENGAL COAL IMPORT TEST - THE TELEGRAPH
The Telegraph reported that, the power position in Bengal improved today but alarm bells are ringing over imported coal stocks that are running out ...
Friday, 14 October 11
CAPE DERIVATIVES MARKET HAS NOT REFLECTED OWNERS EXPECTATIONS' - FEARNBULK
Handy
The Atlantic market continued its upward trend, with fresh cargo entering the market. Skaw Passero to US Gulf climbed US$ 1500 from la ...
Friday, 14 October 11
ADARO BUYS SERVO MEDA FOR RP200 BIO - INSIDER STORIES
Insider Stories reported that, PT Adaro Energy Tbk (ADRO) announced that its subsidiary PT Alam Tri Abadi (ATI), acquired 35% stake in PT Serv ...
Thursday, 13 October 11
DRY BULK MARKETS RALLY CONTINUES, BUT ANALYSTS WARN IT WILL BE SHORTLIVED - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market continued its push forward yesterday, for yet another session, as the BDI (Baltic Dry Index), the industry’s benchmark edg ...
Wednesday, 12 October 11
INDONESIAS COAL RUSH - JOSEPH KIRSCHKE
COALspot.com - Last winter, the Chinese government mobilized thousands of soldiers and reservists of the People’s Liberation Army to the port ...
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- Bharathi Cement Corporation - India
- Electricity Authority, New Zealand
- London Commodity Brokers - England
- Bukit Baiduri Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Coal and Oil Company - UAE
- Siam City Cement - Thailand
- Thai Mozambique Logistica
- Maharashtra Electricity Regulatory Commission - India
- CNBM International Corporation - China
- Straits Asia Resources Limited - Singapore
- Directorate Of Revenue Intelligence - India
- Economic Council, Georgia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mintek Dendrill Indonesia
- Kobexindo Tractors - Indoneisa
- AsiaOL BioFuels Corp., Philippines
- Tata Chemicals Ltd - India
- Posco Energy - South Korea
- Uttam Galva Steels Limited - India
- Banpu Public Company Limited - Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Siam City Cement PLC, Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Medco Energi Mining Internasional
- TeaM Sual Corporation - Philippines
- Simpson Spence & Young - Indonesia
- Pendopo Energi Batubara - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- MS Steel International - UAE
- Minerals Council of Australia
- Makarim & Taira - Indonesia
- Orica Australia Pty. Ltd.
- GMR Energy Limited - India
- Indika Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Australian Coal Association
- IEA Clean Coal Centre - UK
- Bukit Asam (Persero) Tbk - Indonesia
- Videocon Industries ltd - India
- Barasentosa Lestari - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indonesian Coal Mining Association
- Karbindo Abesyapradhi - Indoneisa
- European Bulk Services B.V. - Netherlands
- IHS Mccloskey Coal Group - USA
- Georgia Ports Authority, United States
- Karaikal Port Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Central Java Power - Indonesia
- Tamil Nadu electricity Board
- Meenaskhi Energy Private Limited - India
- Timah Investasi Mineral - Indoneisa
- The State Trading Corporation of India Ltd
- Chamber of Mines of South Africa
- Sree Jayajothi Cements Limited - India
- Rashtriya Ispat Nigam Limited - India
- Eastern Coal Council - USA
- Sakthi Sugars Limited - India
- Rio Tinto Coal - Australia
- Edison Trading Spa - Italy
- Agrawal Coal Company - India
- Aditya Birla Group - India
- Asmin Koalindo Tuhup - Indonesia
- Planning Commission, India
- Bangladesh Power Developement Board
- Therma Luzon, Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Vedanta Resources Plc - India
- McConnell Dowell - Australia
- Price Waterhouse Coopers - Russia
- Alfred C Toepfer International GmbH - Germany
- Sarangani Energy Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- GVK Power & Infra Limited - India
- Bukit Makmur.PT - Indonesia
- LBH Netherlands Bv - Netherlands
- Cigading International Bulk Terminal - Indonesia
- Kartika Selabumi Mining - Indonesia
- Attock Cement Pakistan Limited
- Formosa Plastics Group - Taiwan
- Riau Bara Harum - Indonesia
- Energy Development Corp, Philippines
- New Zealand Coal & Carbon
- Salva Resources Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Maheswari Brothers Coal Limited - India
- Wilmar Investment Holdings
- Sindya Power Generating Company Private Ltd
- Kohat Cement Company Ltd. - Pakistan
- Xindia Steels Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Ministry of Finance - Indonesia
- India Bulls Power Limited - India
- Leighton Contractors Pty Ltd - Australia
- Semirara Mining Corp, Philippines
- Larsen & Toubro Limited - India
- PowerSource Philippines DevCo
- Jaiprakash Power Ventures ltd
- Mercuria Energy - Indonesia
- Merrill Lynch Commodities Europe
- Goldman Sachs - Singapore
- Indogreen Group - Indonesia
- Ministry of Transport, Egypt
- Parry Sugars Refinery, India
- Global Green Power PLC Corporation, Philippines
- Vizag Seaport Private Limited - India
- The University of Queensland
- Interocean Group of Companies - India
- Binh Thuan Hamico - Vietnam
- Petrochimia International Co. Ltd.- Taiwan
- Gujarat Mineral Development Corp Ltd - India
- OPG Power Generation Pvt Ltd - India
- Cement Manufacturers Association - India
- International Coal Ventures Pvt Ltd - India
- Anglo American - United Kingdom
- Global Business Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Manunggal Multi Energi - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Ceylon Electricity Board - Sri Lanka
- Independent Power Producers Association of India
- Samtan Co., Ltd - South Korea
- CIMB Investment Bank - Malaysia
- Grasim Industreis Ltd - India
- Mercator Lines Limited - India
- Savvy Resources Ltd - HongKong
- Jindal Steel & Power Ltd - India
- Semirara Mining and Power Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Bayan Resources Tbk. - Indonesia
- Power Finance Corporation Ltd., India
- PNOC Exploration Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bulk Trading Sa - Switzerland
- SMC Global Power, Philippines
- ICICI Bank Limited - India
- Singapore Mercantile Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kumho Petrochemical, South Korea
- ASAPP Information Group - India
- Billiton Holdings Pty Ltd - Australia
- Central Electricity Authority - India
- Port Waratah Coal Services - Australia
- Parliament of New Zealand
- Intertek Mineral Services - Indonesia
- Borneo Indobara - Indonesia
- Sical Logistics Limited - India
- Sinarmas Energy and Mining - Indonesia
- Petron Corporation, Philippines
- SMG Consultants - Indonesia
- Ministry of Mines - Canada
- Bhushan Steel Limited - India
- Energy Link Ltd, New Zealand
- GAC Shipping (India) Pvt Ltd
- Baramulti Group, Indonesia
- Altura Mining Limited, Indonesia
- Heidelberg Cement - Germany
- Gujarat Sidhee Cement - India
- Electricity Generating Authority of Thailand
- PTC India Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Latin American Coal - Colombia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Malabar Cements Ltd - India
- Trasteel International SA, Italy
- Kideco Jaya Agung - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Commonwealth Bank - Australia
- Standard Chartered Bank - UAE
- Indo Tambangraya Megah - Indonesia
- Oldendorff Carriers - Singapore
- San Jose City I Power Corp, Philippines
- Indian Oil Corporation Limited
- Meralco Power Generation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Coastal Gujarat Power Limited - India
- Thiess Contractors Indonesia
- Essar Steel Hazira Ltd - India
- Mjunction Services Limited - India
- Ind-Barath Power Infra Limited - India
- White Energy Company Limited
- Eastern Energy - Thailand
- Africa Commodities Group - South Africa
- Aboitiz Power Corporation - Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Deloitte Consulting - India
- Renaissance Capital - South Africa
- Australian Commodity Traders Exchange
- Miang Besar Coal Terminal - Indonesia
- Carbofer General Trading SA - India
- Star Paper Mills Limited - India
- Krishnapatnam Port Company Ltd. - India
- Marubeni Corporation - India
- Globalindo Alam Lestari - Indonesia
- Ambuja Cements Ltd - India
- Indian Energy Exchange, India
- Coalindo Energy - Indonesia
- Lanco Infratech Ltd - India
- Romanian Commodities Exchange
- Dalmia Cement Bharat India
- South Luzon Thermal Energy Corporation
- Bhoruka Overseas - Indonesia
- Orica Mining Services - Indonesia
- Toyota Tsusho Corporation, Japan
- The Treasury - Australian Government
- Sojitz Corporation - Japan
- Kapuas Tunggal Persada - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kepco SPC Power Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Wood Mackenzie - Singapore
- Bhatia International Limited - India
- Madhucon Powers Ltd - India
- VISA Power Limited - India
- Iligan Light & Power Inc, Philippines
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