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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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Tuesday, 04 October 11
INDONESIA RAISES COAL BENCHMARK (HBA) FOR FIRST TIME IN 4 MONTHS
COALspot.com - Indonesia raised the monthly reference price for sales in October by 2.56 percent, the first increase since June.
The Ministry of ...
Tuesday, 04 October 11
COAL MINING GROUP WANTS EXPORT TAX, NOT EXCISE - JG
One of the leading English news paper in Indonesia, The Jakarta Globe reported that, the government shall reimpose a duty on coal exports, classifyi ...
Sunday, 02 October 11
INDIAN COAL IMPORTS PICKED UP - CAPT. REDDY
COALspot.com - The BDI dropped by 1 pct and Cape index dropped by 6 pct closing at 1,899 points and 3,136 points respectively. However all other seg ...
Saturday, 01 October 11
2012 TO BE ANOTHER CHALLENGING YEAR - CEO, REMI MARITIME
Shipowners are facing another challenging year in 2012 said Mr. Leonidas Polemis CEO of Remi Maritime Corporation, urging caution towards operating ...
Friday, 30 September 11
MINING BILL CLEARED, FIRMS TO SHARE 26% PROFITS WITH LOCALS - NDTV
NDTV reported that, The Union Cabinet cleared the draft mining bill aimed at regulating mining activities Friday. The bill proposes a profit-sharing ...
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- Mjunction Services Limited - India
- Economic Council, Georgia
- Straits Asia Resources Limited - Singapore
- Price Waterhouse Coopers - Russia
- Uttam Galva Steels Limited - India
- Carbofer General Trading SA - India
- Planning Commission, India
- Ministry of Mines - Canada
- European Bulk Services B.V. - Netherlands
- Manunggal Multi Energi - Indonesia
- CIMB Investment Bank - Malaysia
- Global Business Power Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Kumho Petrochemical, South Korea
- GAC Shipping (India) Pvt Ltd
- Global Coal Blending Company Limited - Australia
- Marubeni Corporation - India
- Indonesian Coal Mining Association
- Neyveli Lignite Corporation Ltd, - India
- Semirara Mining Corp, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Samtan Co., Ltd - South Korea
- Electricity Generating Authority of Thailand
- Malabar Cements Ltd - India
- Wilmar Investment Holdings
- Indogreen Group - Indonesia
- Bhushan Steel Limited - India
- SN Aboitiz Power Inc, Philippines
- Posco Energy - South Korea
- Offshore Bulk Terminal Pte Ltd, Singapore
- Karaikal Port Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Latin American Coal - Colombia
- Meenaskhi Energy Private Limited - India
- Eastern Energy - Thailand
- Grasim Industreis Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- IHS Mccloskey Coal Group - USA
- Globalindo Alam Lestari - Indonesia
- Edison Trading Spa - Italy
- Australian Commodity Traders Exchange
- Toyota Tsusho Corporation, Japan
- Sindya Power Generating Company Private Ltd
- Ministry of Finance - Indonesia
- Coalindo Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- GVK Power & Infra Limited - India
- Kepco SPC Power Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Makarim & Taira - Indonesia
- The University of Queensland
- Gujarat Mineral Development Corp Ltd - India
- Jaiprakash Power Ventures ltd
- Mintek Dendrill Indonesia
- Sree Jayajothi Cements Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Meralco Power Generation, Philippines
- MS Steel International - UAE
- Bulk Trading Sa - Switzerland
- Aditya Birla Group - India
- Attock Cement Pakistan Limited
- Dalmia Cement Bharat India
- VISA Power Limited - India
- Aboitiz Power Corporation - Philippines
- Simpson Spence & Young - Indonesia
- Petron Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Semirara Mining and Power Corporation, Philippines
- Thai Mozambique Logistica
- PTC India Limited - India
- Star Paper Mills Limited - India
- Indian Oil Corporation Limited
- Sical Logistics Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Minerals Council of Australia
- Rashtriya Ispat Nigam Limited - India
- Altura Mining Limited, Indonesia
- The State Trading Corporation of India Ltd
- TNB Fuel Sdn Bhd - Malaysia
- TeaM Sual Corporation - Philippines
- OPG Power Generation Pvt Ltd - India
- Bharathi Cement Corporation - India
- Commonwealth Bank - Australia
- Jorong Barutama Greston.PT - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Binh Thuan Hamico - Vietnam
- Sakthi Sugars Limited - India
- Kartika Selabumi Mining - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Antam Resourcindo - Indonesia
- Interocean Group of Companies - India
- Sarangani Energy Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- AsiaOL BioFuels Corp., Philippines
- Kohat Cement Company Ltd. - Pakistan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Baramulti Group, Indonesia
- Ind-Barath Power Infra Limited - India
- Billiton Holdings Pty Ltd - Australia
- Rio Tinto Coal - Australia
- Oldendorff Carriers - Singapore
- Heidelberg Cement - Germany
- Indika Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Chamber of Mines of South Africa
- Intertek Mineral Services - Indonesia
- IEA Clean Coal Centre - UK
- Timah Investasi Mineral - Indoneisa
- Energy Development Corp, Philippines
- New Zealand Coal & Carbon
- Singapore Mercantile Exchange
- Orica Australia Pty. Ltd.
- SMC Global Power, Philippines
- PowerSource Philippines DevCo
- GMR Energy Limited - India
- Tata Chemicals Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Formosa Plastics Group - Taiwan
- Directorate Of Revenue Intelligence - India
- Central Java Power - Indonesia
- ICICI Bank Limited - India
- Renaissance Capital - South Africa
- Iligan Light & Power Inc, Philippines
- Deloitte Consulting - India
- SMG Consultants - Indonesia
- Port Waratah Coal Services - Australia
- San Jose City I Power Corp, Philippines
- Barasentosa Lestari - Indonesia
- Standard Chartered Bank - UAE
- Karbindo Abesyapradhi - Indoneisa
- Ambuja Cements Ltd - India
- Jindal Steel & Power Ltd - India
- Bhatia International Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Romanian Commodities Exchange
- Ceylon Electricity Board - Sri Lanka
- Tamil Nadu electricity Board
- PNOC Exploration Corporation - Philippines
- Riau Bara Harum - Indonesia
- White Energy Company Limited
- Bangladesh Power Developement Board
- Bayan Resources Tbk. - Indonesia
- Central Electricity Authority - India
- Medco Energi Mining Internasional
- Orica Mining Services - Indonesia
- Kaltim Prima Coal - Indonesia
- Australian Coal Association
- Agrawal Coal Company - India
- Xindia Steels Limited - India
- Essar Steel Hazira Ltd - India
- Parliament of New Zealand
- Trasteel International SA, Italy
- Savvy Resources Ltd - HongKong
- Borneo Indobara - Indonesia
- Siam City Cement PLC, Thailand
- Gujarat Electricity Regulatory Commission - India
- Thiess Contractors Indonesia
- Maheswari Brothers Coal Limited - India
- Mercuria Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Parry Sugars Refinery, India
- Banpu Public Company Limited - Thailand
- GN Power Mariveles Coal Plant, Philippines
- Lanco Infratech Ltd - India
- India Bulls Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- The Treasury - Australian Government
- Cigading International Bulk Terminal - Indonesia
- South Luzon Thermal Energy Corporation
- Gujarat Sidhee Cement - India
- Bhoruka Overseas - Indonesia
- CNBM International Corporation - China
- Vedanta Resources Plc - India
- Vizag Seaport Private Limited - India
- Georgia Ports Authority, United States
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Energy Link Ltd, New Zealand
- Coastal Gujarat Power Limited - India
- Siam City Cement - Thailand
- Larsen & Toubro Limited - India
- McConnell Dowell - Australia
- Wood Mackenzie - Singapore
- Sojitz Corporation - Japan
- Madhucon Powers Ltd - India
- Electricity Authority, New Zealand
- Indo Tambangraya Megah - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Holcim Trading Pte Ltd - Singapore
- LBH Netherlands Bv - Netherlands
- Merrill Lynch Commodities Europe
- Goldman Sachs - Singapore
- Anglo American - United Kingdom
- Global Green Power PLC Corporation, Philippines
- Eastern Coal Council - USA
- Ministry of Transport, Egypt
- ASAPP Information Group - India
- Africa Commodities Group - South Africa
- Independent Power Producers Association of India
- Leighton Contractors Pty Ltd - Australia
- Salva Resources Pvt Ltd - India
- Indian Energy Exchange, India
- Mercator Lines Limited - India
- Videocon Industries ltd - India
- Chettinad Cement Corporation Ltd - India
- Coal and Oil Company - UAE
- Krishnapatnam Port Company Ltd. - India
- Vijayanagar Sugar Pvt Ltd - India
- London Commodity Brokers - England
- Power Finance Corporation Ltd., India
- Cement Manufacturers Association - India
- Bukit Makmur.PT - Indonesia
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