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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, 23 July 11
PANAMAX MARKET FACED A LIMITED ACTIVITY IN ALL BASINS
Handy
Atlantic softening across all segments with little fresh enquiry ex Bsea/Cont/USG and ECSA. Trips to Far east remain healthy. More cargoes ex ...
Friday, 22 July 11
MARUBENI ACQUIRING 42.86% SHARE OF YTL JAWA POWER HOLDINGS
COALspot.com - Japan’s Marubeni Corporation acquisition 42.86% stake in YTL Jawa Power Holdings BV, which owns a 35% equity interest in Indone ...
Thursday, 21 July 11
INDIA IMPORTS 36.033 MILLION TONS OF INDONESIAN COAL TILL JUNE
COALspot.com - Indonesia shipped 28.27 Million tons of coal in June 2011, a 2.3 percent lesser than May export of about 28.962 million tons, I ...
Thursday, 21 July 11
COAL PRICES ARE AT US$ 120 A TONNE
COALspot.com - Indonesian coal production in 2011 is expected to reach 360 million tons or 5.8 percent higher than government's forecasts. The incr ...
Thursday, 21 July 11
DRY BULK RATES EDGE FURTHER DOWN ON WEAK MARKET SENTIMENT - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market fell once again on Wednesday marking the ninth straight day of losses. The industry’s benchmark, the Baltic Dry Index (BDI ...
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- Riau Bara Harum - Indonesia
- Mercuria Energy - Indonesia
- Indian Energy Exchange, India
- TeaM Sual Corporation - Philippines
- Electricity Authority, New Zealand
- SMC Global Power, Philippines
- Interocean Group of Companies - India
- Trasteel International SA, Italy
- Cement Manufacturers Association - India
- Krishnapatnam Port Company Ltd. - India
- Orica Australia Pty. Ltd.
- PetroVietnam Power Coal Import and Supply Company
- The University of Queensland
- Wood Mackenzie - Singapore
- Indo Tambangraya Megah - Indonesia
- Standard Chartered Bank - UAE
- Salva Resources Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Maheswari Brothers Coal Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Sindya Power Generating Company Private Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Bulk Trading Sa - Switzerland
- GAC Shipping (India) Pvt Ltd
- Petron Corporation, Philippines
- Ambuja Cements Ltd - India
- Bukit Makmur.PT - Indonesia
- Kumho Petrochemical, South Korea
- Pendopo Energi Batubara - Indonesia
- Lanco Infratech Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Transport, Egypt
- Siam City Cement PLC, Thailand
- Kepco SPC Power Corporation, Philippines
- Independent Power Producers Association of India
- Kohat Cement Company Ltd. - Pakistan
- Semirara Mining Corp, Philippines
- SN Aboitiz Power Inc, Philippines
- Oldendorff Carriers - Singapore
- Renaissance Capital - South Africa
- Makarim & Taira - Indonesia
- Marubeni Corporation - India
- Toyota Tsusho Corporation, Japan
- Madhucon Powers Ltd - India
- PNOC Exploration Corporation - Philippines
- Mintek Dendrill Indonesia
- Ind-Barath Power Infra Limited - India
- Cigading International Bulk Terminal - Indonesia
- Singapore Mercantile Exchange
- Straits Asia Resources Limited - Singapore
- London Commodity Brokers - England
- Heidelberg Cement - Germany
- Sical Logistics Limited - India
- Intertek Mineral Services - Indonesia
- Coastal Gujarat Power Limited - India
- Kaltim Prima Coal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Coal and Oil Company - UAE
- Bukit Baiduri Energy - Indonesia
- Bhushan Steel Limited - India
- Planning Commission, India
- Vijayanagar Sugar Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Videocon Industries ltd - India
- Parry Sugars Refinery, India
- MS Steel International - UAE
- Kapuas Tunggal Persada - Indonesia
- Ministry of Mines - Canada
- VISA Power Limited - India
- Romanian Commodities Exchange
- Alfred C Toepfer International GmbH - Germany
- Kobexindo Tractors - Indoneisa
- Asmin Koalindo Tuhup - Indonesia
- GMR Energy Limited - India
- European Bulk Services B.V. - Netherlands
- Medco Energi Mining Internasional
- Bhatia International Limited - India
- SMG Consultants - Indonesia
- Tamil Nadu electricity Board
- San Jose City I Power Corp, Philippines
- Vedanta Resources Plc - India
- Electricity Generating Authority of Thailand
- Dalmia Cement Bharat India
- CIMB Investment Bank - Malaysia
- Parliament of New Zealand
- Globalindo Alam Lestari - Indonesia
- India Bulls Power Limited - India
- Global Business Power Corporation, Philippines
- IEA Clean Coal Centre - UK
- Timah Investasi Mineral - Indoneisa
- Miang Besar Coal Terminal - Indonesia
- Mercator Lines Limited - India
- Energy Development Corp, Philippines
- The Treasury - Australian Government
- Kartika Selabumi Mining - Indonesia
- Savvy Resources Ltd - HongKong
- Antam Resourcindo - Indonesia
- Indonesian Coal Mining Association
- Africa Commodities Group - South Africa
- Bhoruka Overseas - Indonesia
- Central Java Power - Indonesia
- Kideco Jaya Agung - Indonesia
- Sree Jayajothi Cements Limited - India
- Baramulti Group, Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Posco Energy - South Korea
- Iligan Light & Power Inc, Philippines
- Uttam Galva Steels Limited - India
- Directorate Of Revenue Intelligence - India
- Jaiprakash Power Ventures ltd
- Star Paper Mills Limited - India
- Therma Luzon, Inc, Philippines
- Latin American Coal - Colombia
- Billiton Holdings Pty Ltd - Australia
- Agrawal Coal Company - India
- Tata Chemicals Ltd - India
- Price Waterhouse Coopers - Russia
- ICICI Bank Limited - India
- Semirara Mining and Power Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Wilmar Investment Holdings
- Bank of Tokyo Mitsubishi UFJ Ltd
- Jindal Steel & Power Ltd - India
- IHS Mccloskey Coal Group - USA
- Vizag Seaport Private Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- The State Trading Corporation of India Ltd
- Australian Commodity Traders Exchange
- New Zealand Coal & Carbon
- Rio Tinto Coal - Australia
- Aboitiz Power Corporation - Philippines
- Meralco Power Generation, Philippines
- Bayan Resources Tbk. - Indonesia
- Aditya Birla Group - India
- Indian Oil Corporation Limited
- Barasentosa Lestari - Indonesia
- Thai Mozambique Logistica
- Gujarat Mineral Development Corp Ltd - India
- Essar Steel Hazira Ltd - India
- Malabar Cements Ltd - India
- Edison Trading Spa - Italy
- Thiess Contractors Indonesia
- Karaikal Port Pvt Ltd - India
- Sojitz Corporation - Japan
- Port Waratah Coal Services - Australia
- PTC India Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Meenaskhi Energy Private Limited - India
- McConnell Dowell - Australia
- Manunggal Multi Energi - Indonesia
- Eastern Coal Council - USA
- Rashtriya Ispat Nigam Limited - India
- White Energy Company Limited
- Georgia Ports Authority, United States
- Formosa Plastics Group - Taiwan
- Economic Council, Georgia
- Borneo Indobara - Indonesia
- Siam City Cement - Thailand
- Central Electricity Authority - India
- Grasim Industreis Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Eastern Energy - Thailand
- Orica Mining Services - Indonesia
- OPG Power Generation Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bharathi Cement Corporation - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sinarmas Energy and Mining - Indonesia
- Deloitte Consulting - India
- Holcim Trading Pte Ltd - Singapore
- Carbofer General Trading SA - India
- CNBM International Corporation - China
- Power Finance Corporation Ltd., India
- Leighton Contractors Pty Ltd - Australia
- Altura Mining Limited, Indonesia
- Binh Thuan Hamico - Vietnam
- Banpu Public Company Limited - Thailand
- Xindia Steels Limited - India
- PowerSource Philippines DevCo
- Indika Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Anglo American - United Kingdom
- International Coal Ventures Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Australian Coal Association
- Chamber of Mines of South Africa
- GVK Power & Infra Limited - India
- Larsen & Toubro Limited - India
- Gujarat Sidhee Cement - India
- Indogreen Group - Indonesia
- ASAPP Information Group - India
- LBH Netherlands Bv - Netherlands
- Commonwealth Bank - Australia
- Chettinad Cement Corporation Ltd - India
- Attock Cement Pakistan Limited
- Gujarat Electricity Regulatory Commission - India
- Merrill Lynch Commodities Europe
- Sarangani Energy Corporation, Philippines
- Ministry of Finance - Indonesia
- Mjunction Services Limited - India
- Coalindo Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Minerals Council of Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Bangladesh Power Developement Board
- Neyveli Lignite Corporation Ltd, - India
- Kalimantan Lumbung Energi - Indonesia
- Goldman Sachs - Singapore
- South Luzon Thermal Energy Corporation
- Energy Link Ltd, New Zealand
- Metalloyd Limited - United Kingdom
- Sakthi Sugars Limited - India
- Simpson Spence & Young - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
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