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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, 12 October 11
CAPESIZE - A SURPRISE JUMP IN RATES - BRS
There was a surge across all sizes last week, resulting in the BDI gaining 101 points to end the week at 2,000 points (+5.3%). The BCI reached 3,218 ...
Wednesday, 12 October 11
CAPESIZE FREIGHT RATES BOUND TO RETREAT FROM 2011 HIGHS ON THE BACK OF TONNAGE OVERSUPPLY SAYS BIMCO
According to Nikos Roussanoglou, Hellenic Shipping, with the BDI (Baltic Dry Index) breaking yet another 2011 high yesterday and ending the se ...
Tuesday, 11 October 11
GLENCORE, SUITOR FOR BUMI PLC? - INSIDER STORIES
Insider Stories reported that, the largest commodities trader in the world, Glencore International Plc, is considering an opportunity to acquire a m ...
Tuesday, 11 October 11
RENUKA COALINDO BUYS JAMBI COAL
PT Renuka Coalindo Tbk, formerly PT Allbond Makmur Usaha Tbk plans to acquire PT Jambi Prima Coal holder of mining concession in Pauh, Sa ...
Monday, 10 October 11
MOZAMBIQUE CHANNEL TO BE THE NEW PIRACY HOTSPOT FOR THIS YEAR SAYS MARITIME SECURITY EXPERT - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The Mozambique Channel, as well as the entrance to the Persian Gulf, are expected to become some of the new pirate hotspots for piracy, says Richard ...
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- Bulk Trading Sa - Switzerland
- The University of Queensland
- Antam Resourcindo - Indonesia
- ASAPP Information Group - India
- McConnell Dowell - Australia
- Interocean Group of Companies - India
- Binh Thuan Hamico - Vietnam
- Petrochimia International Co. Ltd.- Taiwan
- Minerals Council of Australia
- Electricity Generating Authority of Thailand
- Chamber of Mines of South Africa
- IHS Mccloskey Coal Group - USA
- Coalindo Energy - Indonesia
- Georgia Ports Authority, United States
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bharathi Cement Corporation - India
- Asmin Koalindo Tuhup - Indonesia
- Trasteel International SA, Italy
- Goldman Sachs - Singapore
- London Commodity Brokers - England
- GVK Power & Infra Limited - India
- Bhushan Steel Limited - India
- Semirara Mining Corp, Philippines
- Planning Commission, India
- OPG Power Generation Pvt Ltd - India
- Central Electricity Authority - India
- Grasim Industreis Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Coastal Gujarat Power Limited - India
- Indo Tambangraya Megah - Indonesia
- Thiess Contractors Indonesia
- GAC Shipping (India) Pvt Ltd
- Coal and Oil Company - UAE
- Sindya Power Generating Company Private Ltd
- Bangladesh Power Developement Board
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Mercator Lines Limited - India
- Leighton Contractors Pty Ltd - Australia
- Toyota Tsusho Corporation, Japan
- PowerSource Philippines DevCo
- CIMB Investment Bank - Malaysia
- Gujarat Sidhee Cement - India
- Timah Investasi Mineral - Indoneisa
- Price Waterhouse Coopers - Russia
- Tata Chemicals Ltd - India
- Manunggal Multi Energi - Indonesia
- Kumho Petrochemical, South Korea
- Indogreen Group - Indonesia
- Singapore Mercantile Exchange
- Videocon Industries ltd - India
- Lanco Infratech Ltd - India
- LBH Netherlands Bv - Netherlands
- Jindal Steel & Power Ltd - India
- Straits Asia Resources Limited - Singapore
- Bukit Baiduri Energy - Indonesia
- Australian Commodity Traders Exchange
- Baramulti Group, Indonesia
- Sical Logistics Limited - India
- GMR Energy Limited - India
- Ambuja Cements Ltd - India
- Tamil Nadu electricity Board
- Bahari Cakrawala Sebuku - Indonesia
- SN Aboitiz Power Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Attock Cement Pakistan Limited
- Indian Energy Exchange, India
- Siam City Cement - Thailand
- Gujarat Mineral Development Corp Ltd - India
- TeaM Sual Corporation - Philippines
- Petron Corporation, Philippines
- Aditya Birla Group - India
- Ministry of Finance - Indonesia
- Mjunction Services Limited - India
- Africa Commodities Group - South Africa
- SMC Global Power, Philippines
- Oldendorff Carriers - Singapore
- Madhucon Powers Ltd - India
- Latin American Coal - Colombia
- European Bulk Services B.V. - Netherlands
- Simpson Spence & Young - Indonesia
- Vizag Seaport Private Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Sarangani Energy Corporation, Philippines
- Marubeni Corporation - India
- Uttam Galva Steels Limited - India
- Ministry of Mines - Canada
- Ind-Barath Power Infra Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- VISA Power Limited - India
- Orica Mining Services - Indonesia
- Global Coal Blending Company Limited - Australia
- New Zealand Coal & Carbon
- Power Finance Corporation Ltd., India
- Global Green Power PLC Corporation, Philippines
- Mercuria Energy - Indonesia
- Australian Coal Association
- Asia Pacific Energy Resources Ventures Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Xindia Steels Limited - India
- Carbofer General Trading SA - India
- Neyveli Lignite Corporation Ltd, - India
- Sakthi Sugars Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Kalimantan Lumbung Energi - Indonesia
- Meralco Power Generation, Philippines
- Independent Power Producers Association of India
- Deloitte Consulting - India
- Cement Manufacturers Association - India
- Chettinad Cement Corporation Ltd - India
- Savvy Resources Ltd - HongKong
- Standard Chartered Bank - UAE
- Globalindo Alam Lestari - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Sree Jayajothi Cements Limited - India
- Heidelberg Cement - Germany
- Indika Energy - Indonesia
- Commonwealth Bank - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- PTC India Limited - India
- Essar Steel Hazira Ltd - India
- Orica Australia Pty. Ltd.
- Kepco SPC Power Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Karaikal Port Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Ceylon Electricity Board - Sri Lanka
- Siam City Cement PLC, Thailand
- Global Business Power Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Barasentosa Lestari - Indonesia
- PNOC Exploration Corporation - Philippines
- Merrill Lynch Commodities Europe
- Kideco Jaya Agung - Indonesia
- South Luzon Thermal Energy Corporation
- Kaltim Prima Coal - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Renaissance Capital - South Africa
- Vijayanagar Sugar Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Makarim & Taira - Indonesia
- Indonesian Coal Mining Association
- Iligan Light & Power Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Dalmia Cement Bharat India
- Agrawal Coal Company - India
- Metalloyd Limited - United Kingdom
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Anglo American - United Kingdom
- International Coal Ventures Pvt Ltd - India
- Ministry of Transport, Egypt
- Karbindo Abesyapradhi - Indoneisa
- Kapuas Tunggal Persada - Indonesia
- The Treasury - Australian Government
- Economic Council, Georgia
- Banpu Public Company Limited - Thailand
- Eastern Energy - Thailand
- Bhoruka Overseas - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Samtan Co., Ltd - South Korea
- Intertek Mineral Services - Indonesia
- Pendopo Energi Batubara - Indonesia
- Miang Besar Coal Terminal - Indonesia
- ICICI Bank Limited - India
- Posco Energy - South Korea
- India Bulls Power Limited - India
- Maheswari Brothers Coal Limited - India
- Meenaskhi Energy Private Limited - India
- Kartika Selabumi Mining - Indonesia
- Bukit Makmur.PT - Indonesia
- Star Paper Mills Limited - India
- Central Java Power - Indonesia
- White Energy Company Limited
- Borneo Indobara - Indonesia
- Wood Mackenzie - Singapore
- Edison Trading Spa - Italy
- Energy Link Ltd, New Zealand
- Medco Energi Mining Internasional
- San Jose City I Power Corp, Philippines
- Bhatia International Limited - India
- Port Waratah Coal Services - Australia
- Parliament of New Zealand
- Parry Sugars Refinery, India
- The State Trading Corporation of India Ltd
- Romanian Commodities Exchange
- Salva Resources Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Rashtriya Ispat Nigam Limited - India
- Bayan Resources Tbk. - Indonesia
- Vedanta Resources Plc - India
- Krishnapatnam Port Company Ltd. - India
- Altura Mining Limited, Indonesia
- MS Steel International - UAE
- Gujarat Electricity Regulatory Commission - India
- Directorate Of Revenue Intelligence - India
- Energy Development Corp, Philippines
- IEA Clean Coal Centre - UK
- Jorong Barutama Greston.PT - Indonesia
- Indian Oil Corporation Limited
- Eastern Coal Council - USA
- Sojitz Corporation - Japan
- Electricity Authority, New Zealand
- Semirara Mining and Power Corporation, Philippines
- CNBM International Corporation - China
- Sinarmas Energy and Mining - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Aboitiz Power Corporation - Philippines
- Therma Luzon, Inc, Philippines
- Malabar Cements Ltd - India
- Mintek Dendrill Indonesia
- Rio Tinto Coal - Australia
- Riau Bara Harum - Indonesia
- Wilmar Investment Holdings
- Larsen & Toubro Limited - India
- SMG Consultants - Indonesia
- Thai Mozambique Logistica
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