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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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Sunday, 14 August 11
SUPRAMAX CHARTER RATES SHARPLY UP - CAPT.REDDY
COALspot.com - The BDI ended positive with gains in Cape and Panamax index. The BDI was up by 1.50 pct and the cape and panamax index was up by almo ...
Saturday, 13 August 11
GMR HAS ENTERED INTO CSPA WITH GEMS TO ACQUIRE 30% STAKE
COALspot.com - GMR Infrastructure Investments (Singapore) Pte Ltd, a subsidiary of GMR Infrastructure, has signed conditional sale and purchase agre ...
Friday, 12 August 11
COAL MINERS WILL ALLOW TO CONSTRUCT MINE MOUTH POWER PLANT
COALspot.com - The government is set to draft a regulation to enable construction of steam-fired power plants (PLTU) by coal mining companies for th ...
Friday, 12 August 11
CAPESIZE DEMAND HELPS LIFTING OF DRY BULK MARKET - HELLENIC SHIPPING NEWS
The dry bulk market has recovered a small fraction of its lost ground this week, with higher returns as a result of increased capesize demand. This ...
Thursday, 11 August 11
INDO TAMBANGRAYA 1H NET PROFIT SOARS 53.09%
Coal miner PT Indo Tambangraya Megah Tbk (ITMG) today reported a 53.09% jump in net profit for the first 6 months of this year on the back of higher ...
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- Coalindo Energy - Indonesia
- Singapore Mercantile Exchange
- Sical Logistics Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Jaiprakash Power Ventures ltd
- Independent Power Producers Association of India
- Bangladesh Power Developement Board
- The Treasury - Australian Government
- Maheswari Brothers Coal Limited - India
- Kapuas Tunggal Persada - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Metalloyd Limited - United Kingdom
- Asia Pacific Energy Resources Ventures Inc, Philippines
- SMC Global Power, Philippines
- Rio Tinto Coal - Australia
- CIMB Investment Bank - Malaysia
- Meralco Power Generation, Philippines
- Sakthi Sugars Limited - India
- Orica Australia Pty. Ltd.
- Port Waratah Coal Services - Australia
- Ministry of Finance - Indonesia
- Energy Development Corp, Philippines
- Indika Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Orica Mining Services - Indonesia
- Binh Thuan Hamico - Vietnam
- Asmin Koalindo Tuhup - Indonesia
- Bukit Makmur.PT - Indonesia
- Carbofer General Trading SA - India
- Banpu Public Company Limited - Thailand
- MS Steel International - UAE
- European Bulk Services B.V. - Netherlands
- Bulk Trading Sa - Switzerland
- Bhushan Steel Limited - India
- Trasteel International SA, Italy
- Wilmar Investment Holdings
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Transport, Egypt
- Therma Luzon, Inc, Philippines
- Aditya Birla Group - India
- Grasim Industreis Ltd - India
- Heidelberg Cement - Germany
- Posco Energy - South Korea
- Leighton Contractors Pty Ltd - Australia
- Bukit Baiduri Energy - Indonesia
- Edison Trading Spa - Italy
- Eastern Coal Council - USA
- Marubeni Corporation - India
- Mercuria Energy - Indonesia
- Dalmia Cement Bharat India
- Formosa Plastics Group - Taiwan
- Bhatia International Limited - India
- White Energy Company Limited
- London Commodity Brokers - England
- Uttam Galva Steels Limited - India
- Samtan Co., Ltd - South Korea
- Kartika Selabumi Mining - Indonesia
- Siam City Cement - Thailand
- Oldendorff Carriers - Singapore
- International Coal Ventures Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Global Business Power Corporation, Philippines
- PTC India Limited - India
- Central Electricity Authority - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Interocean Group of Companies - India
- Bukit Asam (Persero) Tbk - Indonesia
- Indo Tambangraya Megah - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Romanian Commodities Exchange
- Petron Corporation, Philippines
- Baramulti Group, Indonesia
- Chettinad Cement Corporation Ltd - India
- Goldman Sachs - Singapore
- Merrill Lynch Commodities Europe
- Price Waterhouse Coopers - Russia
- Energy Link Ltd, New Zealand
- PetroVietnam Power Coal Import and Supply Company
- Kohat Cement Company Ltd. - Pakistan
- AsiaOL BioFuels Corp., Philippines
- Vedanta Resources Plc - India
- The State Trading Corporation of India Ltd
- Iligan Light & Power Inc, Philippines
- Cement Manufacturers Association - India
- Bahari Cakrawala Sebuku - Indonesia
- Anglo American - United Kingdom
- Tata Chemicals Ltd - India
- Sarangani Energy Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Semirara Mining and Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- ICICI Bank Limited - India
- Antam Resourcindo - Indonesia
- Eastern Energy - Thailand
- Toyota Tsusho Corporation, Japan
- CNBM International Corporation - China
- Georgia Ports Authority, United States
- Maharashtra Electricity Regulatory Commission - India
- Timah Investasi Mineral - Indoneisa
- Billiton Holdings Pty Ltd - Australia
- Bayan Resources Tbk. - Indonesia
- Kaltim Prima Coal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Bharathi Cement Corporation - India
- IEA Clean Coal Centre - UK
- Straits Asia Resources Limited - Singapore
- Madhucon Powers Ltd - India
- Indonesian Coal Mining Association
- Minerals Council of Australia
- Electricity Generating Authority of Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Indian Oil Corporation Limited
- Agrawal Coal Company - India
- Global Coal Blending Company Limited - Australia
- Tamil Nadu electricity Board
- Krishnapatnam Port Company Ltd. - India
- Australian Commodity Traders Exchange
- Kideco Jaya Agung - Indonesia
- Makarim & Taira - Indonesia
- Sindya Power Generating Company Private Ltd
- India Bulls Power Limited - India
- Gujarat Sidhee Cement - India
- Barasentosa Lestari - Indonesia
- Riau Bara Harum - Indonesia
- Economic Council, Georgia
- Savvy Resources Ltd - HongKong
- Electricity Authority, New Zealand
- Malabar Cements Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kobexindo Tractors - Indoneisa
- South Luzon Thermal Energy Corporation
- Africa Commodities Group - South Africa
- Xindia Steels Limited - India
- Sojitz Corporation - Japan
- Kalimantan Lumbung Energi - Indonesia
- Indogreen Group - Indonesia
- Planning Commission, India
- Larsen & Toubro Limited - India
- Borneo Indobara - Indonesia
- Power Finance Corporation Ltd., India
- Latin American Coal - Colombia
- Coastal Gujarat Power Limited - India
- The University of Queensland
- Lanco Infratech Ltd - India
- Ambuja Cements Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Parliament of New Zealand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Intertek Mineral Services - Indonesia
- VISA Power Limited - India
- SMG Consultants - Indonesia
- Globalindo Alam Lestari - Indonesia
- Deloitte Consulting - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bhoruka Overseas - Indonesia
- McConnell Dowell - Australia
- Attock Cement Pakistan Limited
- Alfred C Toepfer International GmbH - Germany
- SN Aboitiz Power Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- GVK Power & Infra Limited - India
- Gujarat Electricity Regulatory Commission - India
- Neyveli Lignite Corporation Ltd, - India
- Medco Energi Mining Internasional
- New Zealand Coal & Carbon
- Indian Energy Exchange, India
- Commonwealth Bank - Australia
- Pendopo Energi Batubara - Indonesia
- GAC Shipping (India) Pvt Ltd
- Miang Besar Coal Terminal - Indonesia
- Semirara Mining Corp, Philippines
- Rashtriya Ispat Nigam Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Kumho Petrochemical, South Korea
- Ind-Barath Power Infra Limited - India
- Manunggal Multi Energi - Indonesia
- Global Green Power PLC Corporation, Philippines
- Vizag Seaport Private Limited - India
- Star Paper Mills Limited - India
- Holcim Trading Pte Ltd - Singapore
- Mintek Dendrill Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Thiess Contractors Indonesia
- PowerSource Philippines DevCo
- IHS Mccloskey Coal Group - USA
- Renaissance Capital - South Africa
- Central Java Power - Indonesia
- Ministry of Mines - Canada
- Mercator Lines Limited - India
- ASAPP Information Group - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mjunction Services Limited - India
- GMR Energy Limited - India
- Coal and Oil Company - UAE
- Videocon Industries ltd - India
- Jindal Steel & Power Ltd - India
- Australian Coal Association
- Chamber of Mines of South Africa
- Standard Chartered Bank - UAE
- Siam City Cement PLC, Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Altura Mining Limited, Indonesia
- Thai Mozambique Logistica
- Directorate Of Revenue Intelligence - India
- GN Power Mariveles Coal Plant, Philippines
- Parry Sugars Refinery, India
- Cigading International Bulk Terminal - Indonesia
- Sree Jayajothi Cements Limited - India
- Wood Mackenzie - Singapore
- Essar Steel Hazira Ltd - India
- Karaikal Port Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Meenaskhi Energy Private Limited - India
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