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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, 03 July 11
INDONESIAN GOVERNMENT HAS CLEARED 1509 COAL IUP'S AS CLEAR AND CLEAN
COALspot.com - The Directorate general of mineral & coal of Indonesia has cleared around 1,509 IUP holders (coal mining companies) as "clea ...
Sunday, 03 July 11
MONSOON IN INDIA PUSHED FREIGHTS UP FROM INDONESIA TO WC INDIA - VISTAAR
COALspot.com - The BDI continued to hold closing just 2 points below last week at 1,422 points which was supported by Cape index which was up by 71 ...
Friday, 01 July 11
BEN LINE OPENS A NEW OFFICE IN BERAU
COALspot.com - Ben Line Agencies has announced that it has opened a new office in the busy coal loading port of Berau in East Kalimantan increasing ...
Friday, 01 July 11
CAPESIZE RATES TO REMAIN DEPRESSED IN COMING MONTHS SAYS SHIPPING ORGANIZATION - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
In a recent report, BIMCO reassessed that Capesize freight rates will remain in depressed territory in the coming months. Capesize Time Charter Aver ...
Thursday, 30 June 11
DRY BULK MARKET SHOWS SIGNS OF FURTHER WEAKENING - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market seems to be unable to shake off the additional supply of vessels, an oversupply issue of grave concern that would have occured e ...
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- Goldman Sachs - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Kepco SPC Power Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Commonwealth Bank - Australia
- Standard Chartered Bank - UAE
- Semirara Mining Corp, Philippines
- Indika Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Essar Steel Hazira Ltd - India
- Indogreen Group - Indonesia
- PNOC Exploration Corporation - Philippines
- Global Business Power Corporation, Philippines
- Makarim & Taira - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Petron Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Independent Power Producers Association of India
- Mercator Lines Limited - India
- Semirara Mining and Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Sree Jayajothi Cements Limited - India
- Toyota Tsusho Corporation, Japan
- Bayan Resources Tbk. - Indonesia
- Australian Coal Association
- Global Green Power PLC Corporation, Philippines
- Mercuria Energy - Indonesia
- SMC Global Power, Philippines
- The State Trading Corporation of India Ltd
- Manunggal Multi Energi - Indonesia
- Malabar Cements Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Africa Commodities Group - South Africa
- Indo Tambangraya Megah - Indonesia
- Altura Mining Limited, Indonesia
- Renaissance Capital - South Africa
- Rio Tinto Coal - Australia
- GMR Energy Limited - India
- Xindia Steels Limited - India
- Directorate Of Revenue Intelligence - India
- Coastal Gujarat Power Limited - India
- Iligan Light & Power Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Parry Sugars Refinery, India
- Indian Oil Corporation Limited
- CNBM International Corporation - China
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- The Treasury - Australian Government
- International Coal Ventures Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Posco Energy - South Korea
- Jindal Steel & Power Ltd - India
- Dalmia Cement Bharat India
- Orica Mining Services - Indonesia
- Anglo American - United Kingdom
- Latin American Coal - Colombia
- Sical Logistics Limited - India
- Siam City Cement - Thailand
- Holcim Trading Pte Ltd - Singapore
- Wood Mackenzie - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coal and Oil Company - UAE
- Bhushan Steel Limited - India
- Larsen & Toubro Limited - India
- Price Waterhouse Coopers - Russia
- Energy Development Corp, Philippines
- McConnell Dowell - Australia
- Miang Besar Coal Terminal - Indonesia
- IEA Clean Coal Centre - UK
- Ministry of Finance - Indonesia
- Sakthi Sugars Limited - India
- Aboitiz Power Corporation - Philippines
- IHS Mccloskey Coal Group - USA
- Kobexindo Tractors - Indoneisa
- Merrill Lynch Commodities Europe
- Bangladesh Power Developement Board
- Deloitte Consulting - India
- Central Electricity Authority - India
- Kaltim Prima Coal - Indonesia
- Kideco Jaya Agung - Indonesia
- Coalindo Energy - Indonesia
- VISA Power Limited - India
- ASAPP Information Group - India
- Singapore Mercantile Exchange
- Energy Link Ltd, New Zealand
- Rashtriya Ispat Nigam Limited - India
- ICICI Bank Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Power Finance Corporation Ltd., India
- Minerals Council of Australia
- New Zealand Coal & Carbon
- Eastern Energy - Thailand
- Eastern Coal Council - USA
- Uttam Galva Steels Limited - India
- Madhucon Powers Ltd - India
- South Luzon Thermal Energy Corporation
- Agrawal Coal Company - India
- Billiton Holdings Pty Ltd - Australia
- SN Aboitiz Power Inc, Philippines
- Videocon Industries ltd - India
- Globalindo Alam Lestari - Indonesia
- Chettinad Cement Corporation Ltd - India
- Aditya Birla Group - India
- The University of Queensland
- Karaikal Port Pvt Ltd - India
- Ministry of Transport, Egypt
- Medco Energi Mining Internasional
- San Jose City I Power Corp, Philippines
- Australian Commodity Traders Exchange
- Sojitz Corporation - Japan
- Carbofer General Trading SA - India
- Chamber of Mines of South Africa
- Port Waratah Coal Services - Australia
- Oldendorff Carriers - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Planning Commission, India
- Grasim Industreis Ltd - India
- Central Java Power - Indonesia
- Vizag Seaport Private Limited - India
- Simpson Spence & Young - Indonesia
- Bukit Baiduri Energy - Indonesia
- Romanian Commodities Exchange
- Electricity Generating Authority of Thailand
- Bhatia International Limited - India
- Binh Thuan Hamico - Vietnam
- Tamil Nadu electricity Board
- Sinarmas Energy and Mining - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Heidelberg Cement - Germany
- London Commodity Brokers - England
- European Bulk Services B.V. - Netherlands
- Kartika Selabumi Mining - Indonesia
- Straits Asia Resources Limited - Singapore
- Bharathi Cement Corporation - India
- Wilmar Investment Holdings
- Sindya Power Generating Company Private Ltd
- Alfred C Toepfer International GmbH - Germany
- Parliament of New Zealand
- Bukit Asam (Persero) Tbk - Indonesia
- Barasentosa Lestari - Indonesia
- Meralco Power Generation, Philippines
- Antam Resourcindo - Indonesia
- Samtan Co., Ltd - South Korea
- Kumho Petrochemical, South Korea
- Petrochimia International Co. Ltd.- Taiwan
- Thiess Contractors Indonesia
- Ministry of Mines - Canada
- Indian Energy Exchange, India
- Thai Mozambique Logistica
- White Energy Company Limited
- Ambuja Cements Ltd - India
- TeaM Sual Corporation - Philippines
- Gujarat Electricity Regulatory Commission - India
- Cement Manufacturers Association - India
- Kapuas Tunggal Persada - Indonesia
- Indonesian Coal Mining Association
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Neyveli Lignite Corporation Ltd, - India
- Mintek Dendrill Indonesia
- Riau Bara Harum - Indonesia
- Pendopo Energi Batubara - Indonesia
- Star Paper Mills Limited - India
- India Bulls Power Limited - India
- Maheswari Brothers Coal Limited - India
- Borneo Indobara - Indonesia
- Interocean Group of Companies - India
- LBH Netherlands Bv - Netherlands
- Intertek Mineral Services - Indonesia
- Marubeni Corporation - India
- Attock Cement Pakistan Limited
- Formosa Plastics Group - Taiwan
- Meenaskhi Energy Private Limited - India
- CIMB Investment Bank - Malaysia
- Timah Investasi Mineral - Indoneisa
- SMG Consultants - Indonesia
- Bulk Trading Sa - Switzerland
- PetroVietnam Power Coal Import and Supply Company
- Jorong Barutama Greston.PT - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Edison Trading Spa - Italy
- Electricity Authority, New Zealand
- Siam City Cement PLC, Thailand
- AsiaOL BioFuels Corp., Philippines
- Metalloyd Limited - United Kingdom
- Sarangani Energy Corporation, Philippines
- Tata Chemicals Ltd - India
- MS Steel International - UAE
- PowerSource Philippines DevCo
- Jaiprakash Power Ventures ltd
- Baramulti Group, Indonesia
- Lanco Infratech Ltd - India
- Bukit Makmur.PT - Indonesia
- GAC Shipping (India) Pvt Ltd
- Savvy Resources Ltd - HongKong
- Kohat Cement Company Ltd. - Pakistan
- Vedanta Resources Plc - India
- Maharashtra Electricity Regulatory Commission - India
- Trasteel International SA, Italy
- Ind-Barath Power Infra Limited - India
- Georgia Ports Authority, United States
- Economic Council, Georgia
- Orica Australia Pty. Ltd.
- Banpu Public Company Limited - Thailand
- Leighton Contractors Pty Ltd - Australia
- GVK Power & Infra Limited - India
- PTC India Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bhoruka Overseas - Indonesia
- Global Coal Blending Company Limited - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Mjunction Services Limited - India
- Ceylon Electricity Board - Sri Lanka
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