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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, 20 September 11
MTD INAUGURATES ITS COAL TERMINAL IN JAVA ISLAND
Press Release – MTD Group of Malaysia, one of prominent key players in the development of infrastructure in Malaysia, today inaugurated their ...
Tuesday, 20 September 11
DRY BULK MARKET LOSING ITS EDGE, RETREATING AT THE START OF THE WEEK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
After a surge during the past couple of weeks, which saw Capesize earnings boosted and the BDI (Baltic Dry Index) reaching levels of year high and c ...
Monday, 19 September 11
CHINA IMPORTS MORE THAN 10 MMT INDO COAL IN AUGUST 2011
COALspot.com - Indonesian coal exports dropped 1.642 million tons in August compared to July exports. Indonesia exports 29.662 million tons of coal ...
Monday, 19 September 11
INDOMOBIL ENTERING INTO COAL MINING BUSINESS
COALspot.Com- PT Indomobil Sukses Internasional Tbk, part of, one of Indonesia's largest conglomerates, to enter into mining industry ac ...
Sunday, 18 September 11
THE COAL IMPORTS TO INDIA, OUT OF INDONESIA LIKELY TO PICK UP - CAPT. REDDY
COALspot.com - The freight market continued the upward trend until midweek almost touching 2,000 points, however towards second half of the week the ...
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- Bhushan Steel Limited - India
- Siam City Cement - Thailand
- Orica Mining Services - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Baramulti Group, Indonesia
- Ministry of Mines - Canada
- Holcim Trading Pte Ltd - Singapore
- Vizag Seaport Private Limited - India
- Antam Resourcindo - Indonesia
- Jaiprakash Power Ventures ltd
- PetroVietnam Power Coal Import and Supply Company
- London Commodity Brokers - England
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- Planning Commission, India
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- PowerSource Philippines DevCo
- Tata Chemicals Ltd - India
- Thai Mozambique Logistica
- Kapuas Tunggal Persada - Indonesia
- Renaissance Capital - South Africa
- Global Business Power Corporation, Philippines
- Mercuria Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Deloitte Consulting - India
- Manunggal Multi Energi - Indonesia
- Riau Bara Harum - Indonesia
- Central Electricity Authority - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
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- GVK Power & Infra Limited - India
- Power Finance Corporation Ltd., India
- Bukit Asam (Persero) Tbk - Indonesia
- McConnell Dowell - Australia
- Merrill Lynch Commodities Europe
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- Central Java Power - Indonesia
- Savvy Resources Ltd - HongKong
- Sical Logistics Limited - India
- Energy Development Corp, Philippines
- Ind-Barath Power Infra Limited - India
- Banpu Public Company Limited - Thailand
- Parliament of New Zealand
- Australian Commodity Traders Exchange
- GAC Shipping (India) Pvt Ltd
- Krishnapatnam Port Company Ltd. - India
- Uttam Galva Steels Limited - India
- CIMB Investment Bank - Malaysia
- Aboitiz Power Corporation - Philippines
- Sarangani Energy Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Rio Tinto Coal - Australia
- Chettinad Cement Corporation Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Videocon Industries ltd - India
- Kaltim Prima Coal - Indonesia
- Sojitz Corporation - Japan
- Xindia Steels Limited - India
- New Zealand Coal & Carbon
- Cement Manufacturers Association - India
- Kepco SPC Power Corporation, Philippines
- Ministry of Finance - Indonesia
- SMC Global Power, Philippines
- Malabar Cements Ltd - India
- Kumho Petrochemical, South Korea
- SMG Consultants - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Electricity Authority, New Zealand
- Africa Commodities Group - South Africa
- Borneo Indobara - Indonesia
- Economic Council, Georgia
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- Offshore Bulk Terminal Pte Ltd, Singapore
- San Jose City I Power Corp, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Iligan Light & Power Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Gujarat Sidhee Cement - India
- Bukit Baiduri Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Standard Chartered Bank - UAE
- LBH Netherlands Bv - Netherlands
- Semirara Mining Corp, Philippines
- Oldendorff Carriers - Singapore
- Commonwealth Bank - Australia
- Miang Besar Coal Terminal - Indonesia
- Singapore Mercantile Exchange
- Energy Link Ltd, New Zealand
- Global Coal Blending Company Limited - Australia
- MS Steel International - UAE
- Bangladesh Power Developement Board
- Wood Mackenzie - Singapore
- Mercator Lines Limited - India
- White Energy Company Limited
- India Bulls Power Limited - India
- Leighton Contractors Pty Ltd - Australia
- Price Waterhouse Coopers - Russia
- Georgia Ports Authority, United States
- Carbofer General Trading SA - India
- Billiton Holdings Pty Ltd - Australia
- Directorate General of MIneral and Coal - Indonesia
- Wilmar Investment Holdings
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- Metalloyd Limited - United Kingdom
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- Indian Oil Corporation Limited
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- Kideco Jaya Agung - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Interocean Group of Companies - India
- Maheswari Brothers Coal Limited - India
- Bulk Trading Sa - Switzerland
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Attock Cement Pakistan Limited
- Ministry of Transport, Egypt
- Globalindo Alam Lestari - Indonesia
- Electricity Generating Authority of Thailand
- Posco Energy - South Korea
- Directorate Of Revenue Intelligence - India
- The University of Queensland
- VISA Power Limited - India
- Dalmia Cement Bharat India
- Straits Asia Resources Limited - Singapore
- Goldman Sachs - Singapore
- Vedanta Resources Plc - India
- Lanco Infratech Ltd - India
- Chamber of Mines of South Africa
- Aditya Birla Group - India
- Bukit Makmur.PT - Indonesia
- ASAPP Information Group - India
- Kobexindo Tractors - Indoneisa
- Altura Mining Limited, Indonesia
- Mjunction Services Limited - India
- Intertek Mineral Services - Indonesia
- Edison Trading Spa - Italy
- Romanian Commodities Exchange
- Karaikal Port Pvt Ltd - India
- Heidelberg Cement - Germany
- Bhoruka Overseas - Indonesia
- ICICI Bank Limited - India
- Global Green Power PLC Corporation, Philippines
- Grasim Industreis Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Sindya Power Generating Company Private Ltd
- Therma Luzon, Inc, Philippines
- Jindal Steel & Power Ltd - India
- Medco Energi Mining Internasional
- Bayan Resources Tbk. - Indonesia
- PNOC Exploration Corporation - Philippines
- Eastern Coal Council - USA
- Independent Power Producers Association of India
- Petrochimia International Co. Ltd.- Taiwan
- Salva Resources Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Parry Sugars Refinery, India
- Coal and Oil Company - UAE
- Bharathi Cement Corporation - India
- Thiess Contractors Indonesia
- Australian Coal Association
- Eastern Energy - Thailand
- Simpson Spence & Young - Indonesia
- Coalindo Energy - Indonesia
- Indogreen Group - Indonesia
- South Luzon Thermal Energy Corporation
- Siam City Cement PLC, Thailand
- Makarim & Taira - Indonesia
- International Coal Ventures Pvt Ltd - India
- Bhatia International Limited - India
- Agrawal Coal Company - India
- Maharashtra Electricity Regulatory Commission - India
- GMR Energy Limited - India
- Meenaskhi Energy Private Limited - India
- IHS Mccloskey Coal Group - USA
- The Treasury - Australian Government
- Alfred C Toepfer International GmbH - Germany
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Tamil Nadu electricity Board
- Meralco Power Generation, Philippines
- Timah Investasi Mineral - Indoneisa
- Binh Thuan Hamico - Vietnam
- Larsen & Toubro Limited - India
- Anglo American - United Kingdom
- Sree Jayajothi Cements Limited - India
- Indika Energy - Indonesia
- Barasentosa Lestari - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Minerals Council of Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- European Bulk Services B.V. - Netherlands
- Trasteel International SA, Italy
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- CNBM International Corporation - China
- SN Aboitiz Power Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Coastal Gujarat Power Limited - India
- Port Waratah Coal Services - Australia
- Toyota Tsusho Corporation, Japan
- Latin American Coal - Colombia
- Madhucon Powers Ltd - India
- Samtan Co., Ltd - South Korea
- Gujarat Electricity Regulatory Commission - India
- TNB Fuel Sdn Bhd - Malaysia
- Orica Australia Pty. Ltd.
- The State Trading Corporation of India Ltd
- Mintek Dendrill Indonesia
- Sakthi Sugars Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Ambuja Cements Ltd - India
- Indian Energy Exchange, India
- Petron Corporation, Philippines
- Formosa Plastics Group - Taiwan
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