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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, 12 July 11
DRY BULK MARKET BEGINS WEEK ON RETREAT MODE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
As was evident by the end of the previous week, the dry bulk market’s growth momentum was about to lose steam, something proven yesterday, whe ...
Monday, 11 July 11
REFLECTIONS ON THE FLEET REACHING ONE BILLION TONNES - CLARKSONS / HELLENIC SHIPPING
“A billion gross tonnes of shipping” has a nice ring to it. It presents the industry as a business of substance, with its 85,000 ships w ...
Sunday, 10 July 11
UNTR PROVIDES US$100 MIO TO TTA - INSIDER STORIES
PT United Tractors Tbk (UNTR) agreed to allocate US$100 million to its coal subsidiary dubbed PT Tuah Turangga Agung (TTA).The US$100 million was pa ...
Sunday, 10 July 11
HARDLY ANY CARGO FROM WC INDIA UNTIL END OF MONSOONS - VISTAAR
COALspot.com - The BDI continued to hold last week and firmed up by 27 points with cape and panama index supporting the BDI.
The BDI closed at 1, ...
Sunday, 10 July 11
PTBA INCREASES SHARES IN COAL TRAIN PROJECT - TEMPO INTERACTIVE
TEMPO Interactive reported that, PT Tambang Batubara Bukit Asam (PTBA) is still studying the plan to buy 20 percent of shares in the PT Bukit Asam T ...
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- Miang Besar Coal Terminal - Indonesia
- Orica Australia Pty. Ltd.
- Wood Mackenzie - Singapore
- Sical Logistics Limited - India
- Global Green Power PLC Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Ministry of Mines - Canada
- Sakthi Sugars Limited - India
- Jaiprakash Power Ventures ltd
- Coalindo Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- GAC Shipping (India) Pvt Ltd
- Sojitz Corporation - Japan
- IEA Clean Coal Centre - UK
- Marubeni Corporation - India
- Salva Resources Pvt Ltd - India
- Electricity Authority, New Zealand
- Vizag Seaport Private Limited - India
- Simpson Spence & Young - Indonesia
- Georgia Ports Authority, United States
- Vijayanagar Sugar Pvt Ltd - India
- Ambuja Cements Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Kumho Petrochemical, South Korea
- Meenaskhi Energy Private Limited - India
- Africa Commodities Group - South Africa
- Energy Link Ltd, New Zealand
- London Commodity Brokers - England
- Anglo American - United Kingdom
- Timah Investasi Mineral - Indoneisa
- Siam City Cement PLC, Thailand
- Lanco Infratech Ltd - India
- Directorate Of Revenue Intelligence - India
- Ministry of Transport, Egypt
- Kapuas Tunggal Persada - Indonesia
- The University of Queensland
- San Jose City I Power Corp, Philippines
- Bharathi Cement Corporation - India
- Kobexindo Tractors - Indoneisa
- SMC Global Power, Philippines
- Kaltim Prima Coal - Indonesia
- Altura Mining Limited, Indonesia
- Baramulti Group, Indonesia
- Xindia Steels Limited - India
- Binh Thuan Hamico - Vietnam
- IHS Mccloskey Coal Group - USA
- Indonesian Coal Mining Association
- Wilmar Investment Holdings
- Semirara Mining Corp, Philippines
- Eastern Coal Council - USA
- ASAPP Information Group - India
- Malabar Cements Ltd - India
- Bayan Resources Tbk. - Indonesia
- Tata Chemicals Ltd - India
- Karaikal Port Pvt Ltd - India
- ICICI Bank Limited - India
- Heidelberg Cement - Germany
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mercuria Energy - Indonesia
- CIMB Investment Bank - Malaysia
- Makarim & Taira - Indonesia
- McConnell Dowell - Australia
- Aboitiz Power Corporation - Philippines
- Global Business Power Corporation, Philippines
- Mercator Lines Limited - India
- Billiton Holdings Pty Ltd - Australia
- Bhoruka Overseas - Indonesia
- Vedanta Resources Plc - India
- Indika Energy - Indonesia
- TeaM Sual Corporation - Philippines
- Indian Oil Corporation Limited
- Samtan Co., Ltd - South Korea
- SN Aboitiz Power Inc, Philippines
- PTC India Limited - India
- Grasim Industreis Ltd - India
- Siam City Cement - Thailand
- Latin American Coal - Colombia
- Cigading International Bulk Terminal - Indonesia
- Posco Energy - South Korea
- Therma Luzon, Inc, Philippines
- Merrill Lynch Commodities Europe
- GVK Power & Infra Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Riau Bara Harum - Indonesia
- South Luzon Thermal Energy Corporation
- Pipit Mutiara Jaya. PT, Indonesia
- Oldendorff Carriers - Singapore
- Australian Coal Association
- Gujarat Sidhee Cement - India
- Metalloyd Limited - United Kingdom
- Medco Energi Mining Internasional
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bukit Baiduri Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Global Coal Blending Company Limited - Australia
- Central Java Power - Indonesia
- International Coal Ventures Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Planning Commission, India
- Attock Cement Pakistan Limited
- Economic Council, Georgia
- Star Paper Mills Limited - India
- Bangladesh Power Developement Board
- Toyota Tsusho Corporation, Japan
- Meralco Power Generation, Philippines
- Tamil Nadu electricity Board
- Australian Commodity Traders Exchange
- Indogreen Group - Indonesia
- Globalindo Alam Lestari - Indonesia
- Sindya Power Generating Company Private Ltd
- Price Waterhouse Coopers - Russia
- Chettinad Cement Corporation Ltd - India
- SMG Consultants - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Coastal Gujarat Power Limited - India
- Ceylon Electricity Board - Sri Lanka
- GMR Energy Limited - India
- LBH Netherlands Bv - Netherlands
- Agrawal Coal Company - India
- Formosa Plastics Group - Taiwan
- Rio Tinto Coal - Australia
- Antam Resourcindo - Indonesia
- CNBM International Corporation - China
- Semirara Mining and Power Corporation, Philippines
- Banpu Public Company Limited - Thailand
- India Bulls Power Limited - India
- Bhatia International Limited - India
- Deloitte Consulting - India
- Kalimantan Lumbung Energi - Indonesia
- Sarangani Energy Corporation, Philippines
- Essar Steel Hazira Ltd - India
- New Zealand Coal & Carbon
- Minerals Council of Australia
- Pendopo Energi Batubara - Indonesia
- OPG Power Generation Pvt Ltd - India
- Cement Manufacturers Association - India
- Ind-Barath Power Infra Limited - India
- Interocean Group of Companies - India
- Kartika Selabumi Mining - Indonesia
- Parry Sugars Refinery, India
- GN Power Mariveles Coal Plant, Philippines
- AsiaOL BioFuels Corp., Philippines
- Commonwealth Bank - Australia
- Edison Trading Spa - Italy
- Karbindo Abesyapradhi - Indoneisa
- Carbofer General Trading SA - India
- Central Electricity Authority - India
- Bukit Makmur.PT - Indonesia
- Intertek Mineral Services - Indonesia
- Port Waratah Coal Services - Australia
- Orica Mining Services - Indonesia
- Chamber of Mines of South Africa
- Iligan Light & Power Inc, Philippines
- Power Finance Corporation Ltd., India
- Gujarat Electricity Regulatory Commission - India
- Independent Power Producers Association of India
- Alfred C Toepfer International GmbH - Germany
- Neyveli Lignite Corporation Ltd, - India
- Aditya Birla Group - India
- Savvy Resources Ltd - HongKong
- Mjunction Services Limited - India
- Indian Energy Exchange, India
- Renaissance Capital - South Africa
- Videocon Industries ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indo Tambangraya Megah - Indonesia
- The State Trading Corporation of India Ltd
- Barasentosa Lestari - Indonesia
- Ministry of Finance - Indonesia
- Larsen & Toubro Limited - India
- Bhushan Steel Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Mintek Dendrill Indonesia
- European Bulk Services B.V. - Netherlands
- Holcim Trading Pte Ltd - Singapore
- Sinarmas Energy and Mining - Indonesia
- Kepco SPC Power Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Manunggal Multi Energi - Indonesia
- Eastern Energy - Thailand
- White Energy Company Limited
- Maharashtra Electricity Regulatory Commission - India
- Dalmia Cement Bharat India
- Coal and Oil Company - UAE
- PowerSource Philippines DevCo
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Energy Development Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
- VISA Power Limited - India
- Thiess Contractors Indonesia
- Singapore Mercantile Exchange
- Goldman Sachs - Singapore
- Thai Mozambique Logistica
- Jindal Steel & Power Ltd - India
- Uttam Galva Steels Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Parliament of New Zealand
- Standard Chartered Bank - UAE
- Trasteel International SA, Italy
- Rashtriya Ispat Nigam Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Electricity Generating Authority of Thailand
- Borneo Indobara - Indonesia
- Petron Corporation, Philippines
- MS Steel International - UAE
- Romanian Commodities Exchange
- Kideco Jaya Agung - Indonesia
- PNOC Exploration Corporation - Philippines
- Kohat Cement Company Ltd. - Pakistan
- Bulk Trading Sa - Switzerland
- Bahari Cakrawala Sebuku - Indonesia
- Madhucon Powers Ltd - India
- The Treasury - Australian Government
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