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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, 27 September 11
A STRONG REBOUND FOR THE CAPE MARKET - BRS
A strong rebound for the Cape market, as cargoes continued to flow into the market and tonnage remained tight in the Atlantic, according to Barry Ro ...
Tuesday, 27 September 11
INTRACO SEALS US$25.3 MIO ORDER - INSIDER STORIES
Insider Stories reported that, Heavy equipment distributor PT Intraco Penta Tbk (INTA) obtained a US$25.3 million order on hand of heavy equipments ...
Sunday, 25 September 11
THE CHARTER RATES FOR INDONESIA TO INDIA WAS FIRM - VISTAAR
COALspot.com - The freight market moved up sharply with the cape Index up by 11 pct pushing the BDI by almost 6 pct and closing at 1,920 point ...
Saturday, 24 September 11
GOVT PLANS TO RENEGOTIATE ALL CONTRACTS INCLUDING FREEPORT - JP
The Jakarta Post reported that, the Energy and Mineral Resources Ministry has confirmed plans to renegotiate all mining contracts including those wi ...
Friday, 23 September 11
ICMA TO BUILD UPGRADE FACILITIES TO ANTICIPATE BAN ON LOW-GRADE COAL EXPORT BY 2014
COALspot.com - January to August of this year, Indonesia’s coal production had already reached 235 million tons. Earlier estimates had targete ...
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- Kobexindo Tractors - Indoneisa
- Sarangani Energy Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Interocean Group of Companies - India
- Aditya Birla Group - India
- European Bulk Services B.V. - Netherlands
- Thiess Contractors Indonesia
- Independent Power Producers Association of India
- Minerals Council of Australia
- Agrawal Coal Company - India
- Deloitte Consulting - India
- GMR Energy Limited - India
- Oldendorff Carriers - Singapore
- SN Aboitiz Power Inc, Philippines
- Videocon Industries ltd - India
- CIMB Investment Bank - Malaysia
- India Bulls Power Limited - India
- Miang Besar Coal Terminal - Indonesia
- Orica Australia Pty. Ltd.
- The University of Queensland
- Therma Luzon, Inc, Philippines
- McConnell Dowell - Australia
- Central Java Power - Indonesia
- South Luzon Thermal Energy Corporation
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Standard Chartered Bank - UAE
- Heidelberg Cement - Germany
- International Coal Ventures Pvt Ltd - India
- The Treasury - Australian Government
- Kapuas Tunggal Persada - Indonesia
- SMG Consultants - Indonesia
- Larsen & Toubro Limited - India
- London Commodity Brokers - England
- Medco Energi Mining Internasional
- Pendopo Energi Batubara - Indonesia
- Borneo Indobara - Indonesia
- Antam Resourcindo - Indonesia
- Grasim Industreis Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Electricity Authority, New Zealand
- Kartika Selabumi Mining - Indonesia
- Directorate Of Revenue Intelligence - India
- Bulk Trading Sa - Switzerland
- Formosa Plastics Group - Taiwan
- Ind-Barath Power Infra Limited - India
- Xindia Steels Limited - India
- Merrill Lynch Commodities Europe
- Global Business Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- ASAPP Information Group - India
- Bhatia International Limited - India
- Vizag Seaport Private Limited - India
- Mjunction Services Limited - India
- Planning Commission, India
- Gujarat Mineral Development Corp Ltd - India
- Trasteel International SA, Italy
- Latin American Coal - Colombia
- Siam City Cement PLC, Thailand
- Parry Sugars Refinery, India
- Binh Thuan Hamico - Vietnam
- Meralco Power Generation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Siam City Cement - Thailand
- Commonwealth Bank - Australia
- Holcim Trading Pte Ltd - Singapore
- Australian Coal Association
- Uttam Galva Steels Limited - India
- Sical Logistics Limited - India
- Salva Resources Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- White Energy Company Limited
- Coal and Oil Company - UAE
- Orica Mining Services - Indonesia
- Billiton Holdings Pty Ltd - Australia
- New Zealand Coal & Carbon
- Sakthi Sugars Limited - India
- Barasentosa Lestari - Indonesia
- ICICI Bank Limited - India
- Rio Tinto Coal - Australia
- Australian Commodity Traders Exchange
- Petron Corporation, Philippines
- Indika Energy - Indonesia
- Ministry of Finance - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Maheswari Brothers Coal Limited - India
- Mintek Dendrill Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- GVK Power & Infra Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Port Waratah Coal Services - Australia
- Sinarmas Energy and Mining - Indonesia
- Kumho Petrochemical, South Korea
- Intertek Mineral Services - Indonesia
- Lanco Infratech Ltd - India
- Altura Mining Limited, Indonesia
- Price Waterhouse Coopers - Russia
- Aboitiz Power Corporation - Philippines
- Metalloyd Limited - United Kingdom
- Madhucon Powers Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Manunggal Multi Energi - Indonesia
- The State Trading Corporation of India Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Georgia Ports Authority, United States
- Attock Cement Pakistan Limited
- Parliament of New Zealand
- Central Electricity Authority - India
- Bukit Baiduri Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Globalindo Alam Lestari - Indonesia
- Bhoruka Overseas - Indonesia
- Carbofer General Trading SA - India
- Indogreen Group - Indonesia
- LBH Netherlands Bv - Netherlands
- Sree Jayajothi Cements Limited - India
- Energy Link Ltd, New Zealand
- Directorate General of MIneral and Coal - Indonesia
- OPG Power Generation Pvt Ltd - India
- VISA Power Limited - India
- Bharathi Cement Corporation - India
- Savvy Resources Ltd - HongKong
- IEA Clean Coal Centre - UK
- Cement Manufacturers Association - India
- Indo Tambangraya Megah - Indonesia
- Posco Energy - South Korea
- Pipit Mutiara Jaya. PT, Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Kohat Cement Company Ltd. - Pakistan
- Samtan Co., Ltd - South Korea
- Gujarat Sidhee Cement - India
- Semirara Mining Corp, Philippines
- Kideco Jaya Agung - Indonesia
- IHS Mccloskey Coal Group - USA
- Singapore Mercantile Exchange
- Simpson Spence & Young - Indonesia
- Tamil Nadu electricity Board
- Karbindo Abesyapradhi - Indoneisa
- GAC Shipping (India) Pvt Ltd
- Mercuria Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- Mercator Lines Limited - India
- Coalindo Energy - Indonesia
- Chamber of Mines of South Africa
- Eastern Coal Council - USA
- Wilmar Investment Holdings
- Baramulti Group, Indonesia
- Global Green Power PLC Corporation, Philippines
- Indian Energy Exchange, India
- AsiaOL BioFuels Corp., Philippines
- Chettinad Cement Corporation Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Indian Oil Corporation Limited
- Jaiprakash Power Ventures ltd
- Electricity Generating Authority of Thailand
- PowerSource Philippines DevCo
- TNB Fuel Sdn Bhd - Malaysia
- TeaM Sual Corporation - Philippines
- Energy Development Corp, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bhushan Steel Limited - India
- Indonesian Coal Mining Association
- Ministry of Mines - Canada
- Eastern Energy - Thailand
- Jindal Steel & Power Ltd - India
- Kepco SPC Power Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Economic Council, Georgia
- Thai Mozambique Logistica
- Malabar Cements Ltd - India
- MS Steel International - UAE
- Ministry of Transport, Egypt
- Essar Steel Hazira Ltd - India
- Meenaskhi Energy Private Limited - India
- Sindya Power Generating Company Private Ltd
- Power Finance Corporation Ltd., India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ambuja Cements Ltd - India
- PNOC Exploration Corporation - Philippines
- Goldman Sachs - Singapore
- Africa Commodities Group - South Africa
- Semirara Mining and Power Corporation, Philippines
- SMC Global Power, Philippines
- Riau Bara Harum - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Star Paper Mills Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Dalmia Cement Bharat India
- Bayan Resources Tbk. - Indonesia
- San Jose City I Power Corp, Philippines
- Ceylon Electricity Board - Sri Lanka
- Bangladesh Power Developement Board
- Banpu Public Company Limited - Thailand
- Tata Chemicals Ltd - India
- Sojitz Corporation - Japan
- Neyveli Lignite Corporation Ltd, - India
- Leighton Contractors Pty Ltd - Australia
- Edison Trading Spa - Italy
- Rashtriya Ispat Nigam Limited - India
- Anglo American - United Kingdom
- PTC India Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- CNBM International Corporation - China
- Romanian Commodities Exchange
- Marubeni Corporation - India
- Wood Mackenzie - Singapore
- Asmin Koalindo Tuhup - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Toyota Tsusho Corporation, Japan
- Straits Asia Resources Limited - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Iligan Light & Power Inc, Philippines
- Vedanta Resources Plc - India
- Makarim & Taira - Indonesia
- Renaissance Capital - South Africa
- Cigading International Bulk Terminal - Indonesia
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