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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, 03 September 11
TNPL TO BUY 240K MT OF NON-COKING COAL
COALspot.com - Tamil Nadu Newsprint and Papers Limited (TNPL), is seeking to procure 240,000 MT +/- 5 percent of non-coking imported coal with ...
Friday, 02 September 11
CAPESIZE DEMAND LIFTS DRY BULK MARKET ONCE AGAIN - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
In what proves to be the best week of the year for Capesize owners, strong demand has helped propel the dry bulk market to new highs yesterday. The ...
Thursday, 01 September 11
EWP TO BUY 195KT OF VIETNAM COAL
COALspot.com - Korea Midland Power (KOMIPO) has issued an International open bidding for 490kt of sub bituminous coal, according to a bid invitation ...
Thursday, 01 September 11
DRY BULK MARKET TAKES GREAT LEAP FORWARD - NIKOS ROUSSANOGLOU
In what turned out to be a rather hopeful ending of the month, the last day of August saw the dry bulk market’s benchmark, the BDI (Baltic Dry ...
Tuesday, 30 August 11
FAUJI CEMENT CONSUMED MORE THAN 1 MILLION TONS OF LOCAL COAL
Cooper Minerals Inc.based in Vancouver, BC, Canada, is a junior exploration company engaged in the acquisition, exploration and development of miner ...
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- GMR Energy Limited - India
- Barasentosa Lestari - Indonesia
- Indian Oil Corporation Limited
- Pendopo Energi Batubara - Indonesia
- Semirara Mining Corp, Philippines
- Carbofer General Trading SA - India
- ICICI Bank Limited - India
- Wilmar Investment Holdings
- Salva Resources Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Makarim & Taira - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Global Coal Blending Company Limited - Australia
- Toyota Tsusho Corporation, Japan
- Pipit Mutiara Jaya. PT, Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Xindia Steels Limited - India
- CNBM International Corporation - China
- Global Business Power Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Alfred C Toepfer International GmbH - Germany
- Ministry of Finance - Indonesia
- South Luzon Thermal Energy Corporation
- Chettinad Cement Corporation Ltd - India
- Globalindo Alam Lestari - Indonesia
- Bukit Makmur.PT - Indonesia
- PTC India Limited - India
- PNOC Exploration Corporation - Philippines
- Latin American Coal - Colombia
- Central Electricity Authority - India
- Karaikal Port Pvt Ltd - India
- Cement Manufacturers Association - India
- Jorong Barutama Greston.PT - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Eastern Energy - Thailand
- Gujarat Mineral Development Corp Ltd - India
- Malabar Cements Ltd - India
- London Commodity Brokers - England
- Antam Resourcindo - Indonesia
- Parry Sugars Refinery, India
- Anglo American - United Kingdom
- Videocon Industries ltd - India
- Bangladesh Power Developement Board
- Aditya Birla Group - India
- Petron Corporation, Philippines
- MS Steel International - UAE
- Australian Commodity Traders Exchange
- McConnell Dowell - Australia
- Kepco SPC Power Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- LBH Netherlands Bv - Netherlands
- Port Waratah Coal Services - Australia
- Baramulti Group, Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Renaissance Capital - South Africa
- Heidelberg Cement - Germany
- Uttam Galva Steels Limited - India
- Aboitiz Power Corporation - Philippines
- Georgia Ports Authority, United States
- Merrill Lynch Commodities Europe
- Billiton Holdings Pty Ltd - Australia
- Kohat Cement Company Ltd. - Pakistan
- Bhoruka Overseas - Indonesia
- Planning Commission, India
- Sical Logistics Limited - India
- Riau Bara Harum - Indonesia
- Ambuja Cements Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Kaltim Prima Coal - Indonesia
- Metalloyd Limited - United Kingdom
- Marubeni Corporation - India
- Gujarat Sidhee Cement - India
- Lanco Infratech Ltd - India
- Straits Asia Resources Limited - Singapore
- Gujarat Electricity Regulatory Commission - India
- Mercuria Energy - Indonesia
- Goldman Sachs - Singapore
- Thiess Contractors Indonesia
- Directorate Of Revenue Intelligence - India
- India Bulls Power Limited - India
- Vedanta Resources Plc - India
- Cigading International Bulk Terminal - Indonesia
- ASAPP Information Group - India
- Kalimantan Lumbung Energi - Indonesia
- Global Green Power PLC Corporation, Philippines
- Energy Development Corp, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- San Jose City I Power Corp, Philippines
- Kapuas Tunggal Persada - Indonesia
- Orica Australia Pty. Ltd.
- Coalindo Energy - Indonesia
- Indian Energy Exchange, India
- Agrawal Coal Company - India
- Binh Thuan Hamico - Vietnam
- Meralco Power Generation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Minerals Council of Australia
- SN Aboitiz Power Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Manunggal Multi Energi - Indonesia
- The State Trading Corporation of India Ltd
- Indo Tambangraya Megah - Indonesia
- Standard Chartered Bank - UAE
- Holcim Trading Pte Ltd - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Timah Investasi Mineral - Indoneisa
- Kobexindo Tractors - Indoneisa
- Altura Mining Limited, Indonesia
- Bharathi Cement Corporation - India
- International Coal Ventures Pvt Ltd - India
- Madhucon Powers Ltd - India
- Parliament of New Zealand
- Bukit Baiduri Energy - Indonesia
- Attock Cement Pakistan Limited
- Sojitz Corporation - Japan
- Sinarmas Energy and Mining - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bhushan Steel Limited - India
- Kumho Petrochemical, South Korea
- Australian Coal Association
- Jindal Steel & Power Ltd - India
- White Energy Company Limited
- Neyveli Lignite Corporation Ltd, - India
- Jaiprakash Power Ventures ltd
- Economic Council, Georgia
- Tata Chemicals Ltd - India
- GAC Shipping (India) Pvt Ltd
- European Bulk Services B.V. - Netherlands
- Africa Commodities Group - South Africa
- Directorate General of MIneral and Coal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Sree Jayajothi Cements Limited - India
- Ministry of Mines - Canada
- Independent Power Producers Association of India
- Vizag Seaport Private Limited - India
- Larsen & Toubro Limited - India
- Ministry of Transport, Egypt
- IHS Mccloskey Coal Group - USA
- Indogreen Group - Indonesia
- Commonwealth Bank - Australia
- SMC Global Power, Philippines
- Ind-Barath Power Infra Limited - India
- Maheswari Brothers Coal Limited - India
- Banpu Public Company Limited - Thailand
- Borneo Indobara - Indonesia
- CIMB Investment Bank - Malaysia
- Interocean Group of Companies - India
- Chamber of Mines of South Africa
- Central Java Power - Indonesia
- Essar Steel Hazira Ltd - India
- Edison Trading Spa - Italy
- Oldendorff Carriers - Singapore
- Coal and Oil Company - UAE
- OPG Power Generation Pvt Ltd - India
- Tamil Nadu electricity Board
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Semirara Mining and Power Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Sarangani Energy Corporation, Philippines
- Eastern Coal Council - USA
- SMG Consultants - Indonesia
- Mjunction Services Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Star Paper Mills Limited - India
- Romanian Commodities Exchange
- Rio Tinto Coal - Australia
- Price Waterhouse Coopers - Russia
- Coastal Gujarat Power Limited - India
- Siam City Cement PLC, Thailand
- Kartika Selabumi Mining - Indonesia
- Sindya Power Generating Company Private Ltd
- Indika Energy - Indonesia
- Indonesian Coal Mining Association
- Wood Mackenzie - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Trasteel International SA, Italy
- GVK Power & Infra Limited - India
- Power Finance Corporation Ltd., India
- Orica Mining Services - Indonesia
- Electricity Authority, New Zealand
- Mintek Dendrill Indonesia
- Deloitte Consulting - India
- Savvy Resources Ltd - HongKong
- Asmin Koalindo Tuhup - Indonesia
- Posco Energy - South Korea
- PowerSource Philippines DevCo
- IEA Clean Coal Centre - UK
- Samtan Co., Ltd - South Korea
- New Zealand Coal & Carbon
- Mercator Lines Limited - India
- VISA Power Limited - India
- Therma Luzon, Inc, Philippines
- Grasim Industreis Ltd - India
- Electricity Generating Authority of Thailand
- Singapore Mercantile Exchange
- Dalmia Cement Bharat India
- Intertek Mineral Services - Indonesia
- Thai Mozambique Logistica
- Iligan Light & Power Inc, Philippines
- Energy Link Ltd, New Zealand
- Siam City Cement - Thailand
- The University of Queensland
- Formosa Plastics Group - Taiwan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Medco Energi Mining Internasional
- Kideco Jaya Agung - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bhatia International Limited - India
- Bayan Resources Tbk. - Indonesia
- TeaM Sual Corporation - Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- The Treasury - Australian Government
- Ceylon Electricity Board - Sri Lanka
- Sakthi Sugars Limited - India
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