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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, 30 April 11
THE PANAMAX WAS THE BIGGEST GAINER
COALspot.com - The freight market appeared to recover slightly after the Easter holidays. However they market may not move up much and likely to mai ...
Friday, 29 April 11
KOMIPO ISSUES TENDER FOR 710,000 MT OF LCV & HCV COAL
COALspot.com - Korea Midland Power Co. Ltd (KOMIPO) has issued a spot supply tender for supply of total 710,000 MT of thermal coal for delivery betw ...
Friday, 29 April 11
HARUM EYES IDR 2.58 TRILLION COAL TAKEOVER
PT Harum Energy Tbk (HRUM), that is controlled by Indonesian tycoon Kiki Barki, is poised to spend Rp 2.58 trillion (approximately US$ 301.296 mln) ...
Friday, 29 April 11
CHINA'S IMPORTS 27 PERCENT LESS COAL IN Q1 2011 - ICAP SHIPPING
ICAP Shipping reported that, China's coal imports in the first quarter were some 27% down on a year ago at 32.3 Mt (2010: 44.4 Mt). Part of the rea ...
Thursday, 28 April 11
BALTIC DRY INDEX NUDGES UP AFTER DAYS OF LOSSES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
After consecutive falls, the dry bulk freight market, as followed through the Baltic Dry Index, finally caught a breather yesterday, with the BDI ma ...
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- Kartika Selabumi Mining - Indonesia
- Singapore Mercantile Exchange
- Oldendorff Carriers - Singapore
- Posco Energy - South Korea
- Pendopo Energi Batubara - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Parliament of New Zealand
- GAC Shipping (India) Pvt Ltd
- Bhushan Steel Limited - India
- Minerals Council of Australia
- Price Waterhouse Coopers - Russia
- Tata Chemicals Ltd - India
- Bukit Makmur.PT - Indonesia
- Coastal Gujarat Power Limited - India
- VISA Power Limited - India
- Savvy Resources Ltd - HongKong
- SMG Consultants - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Maheswari Brothers Coal Limited - India
- IEA Clean Coal Centre - UK
- SMC Global Power, Philippines
- Port Waratah Coal Services - Australia
- Mercator Lines Limited - India
- PowerSource Philippines DevCo
- TNB Fuel Sdn Bhd - Malaysia
- Ministry of Finance - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Electricity Authority, New Zealand
- Petron Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- AsiaOL BioFuels Corp., Philippines
- Merrill Lynch Commodities Europe
- ICICI Bank Limited - India
- Energy Link Ltd, New Zealand
- Indo Tambangraya Megah - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Simpson Spence & Young - Indonesia
- PNOC Exploration Corporation - Philippines
- Planning Commission, India
- ASAPP Information Group - India
- Toyota Tsusho Corporation, Japan
- Indian Energy Exchange, India
- Banpu Public Company Limited - Thailand
- Therma Luzon, Inc, Philippines
- Coalindo Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Semirara Mining Corp, Philippines
- Timah Investasi Mineral - Indoneisa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kaltim Prima Coal - Indonesia
- San Jose City I Power Corp, Philippines
- Parry Sugars Refinery, India
- Miang Besar Coal Terminal - Indonesia
- Karaikal Port Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Eastern Coal Council - USA
- Africa Commodities Group - South Africa
- Siam City Cement PLC, Thailand
- Indonesian Coal Mining Association
- Agrawal Coal Company - India
- Jaiprakash Power Ventures ltd
- Bayan Resources Tbk. - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Dalmia Cement Bharat India
- Orica Mining Services - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Independent Power Producers Association of India
- Coal and Oil Company - UAE
- Australian Coal Association
- Standard Chartered Bank - UAE
- Semirara Mining and Power Corporation, Philippines
- Global Business Power Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Lanco Infratech Ltd - India
- Iligan Light & Power Inc, Philippines
- The University of Queensland
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Metalloyd Limited - United Kingdom
- Neyveli Lignite Corporation Ltd, - India
- Thai Mozambique Logistica
- Latin American Coal - Colombia
- CNBM International Corporation - China
- Maharashtra Electricity Regulatory Commission - India
- Rashtriya Ispat Nigam Limited - India
- Deloitte Consulting - India
- Globalindo Alam Lestari - Indonesia
- Grasim Industreis Ltd - India
- Altura Mining Limited, Indonesia
- Interocean Group of Companies - India
- Pipit Mutiara Jaya. PT, Indonesia
- Mjunction Services Limited - India
- Ministry of Mines - Canada
- Economic Council, Georgia
- Bhatia International Limited - India
- Malabar Cements Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Power Finance Corporation Ltd., India
- Sree Jayajothi Cements Limited - India
- Mercuria Energy - Indonesia
- Borneo Indobara - Indonesia
- The Treasury - Australian Government
- Xindia Steels Limited - India
- Videocon Industries ltd - India
- Aboitiz Power Corporation - Philippines
- GVK Power & Infra Limited - India
- Riau Bara Harum - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Indika Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- Edison Trading Spa - Italy
- Bank of Tokyo Mitsubishi UFJ Ltd
- Gujarat Electricity Regulatory Commission - India
- Intertek Mineral Services - Indonesia
- Renaissance Capital - South Africa
- LBH Netherlands Bv - Netherlands
- Sical Logistics Limited - India
- Ambuja Cements Ltd - India
- SN Aboitiz Power Inc, Philippines
- Carbofer General Trading SA - India
- Siam City Cement - Thailand
- Mintek Dendrill Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Georgia Ports Authority, United States
- Straits Asia Resources Limited - Singapore
- Attock Cement Pakistan Limited
- International Coal Ventures Pvt Ltd - India
- Thiess Contractors Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Energy Development Corp, Philippines
- Binh Thuan Hamico - Vietnam
- GMR Energy Limited - India
- Ministry of Transport, Egypt
- Antam Resourcindo - Indonesia
- Medco Energi Mining Internasional
- Aditya Birla Group - India
- CIMB Investment Bank - Malaysia
- Cement Manufacturers Association - India
- The State Trading Corporation of India Ltd
- Jindal Steel & Power Ltd - India
- Central Java Power - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Anglo American - United Kingdom
- Larsen & Toubro Limited - India
- Bukit Baiduri Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- South Luzon Thermal Energy Corporation
- Makarim & Taira - Indonesia
- Chamber of Mines of South Africa
- Bulk Trading Sa - Switzerland
- Goldman Sachs - Singapore
- Chettinad Cement Corporation Ltd - India
- Kapuas Tunggal Persada - Indonesia
- IHS Mccloskey Coal Group - USA
- Indogreen Group - Indonesia
- Gujarat Sidhee Cement - India
- Baramulti Group, Indonesia
- Bharathi Cement Corporation - India
- Wood Mackenzie - Singapore
- Sindya Power Generating Company Private Ltd
- Gujarat Mineral Development Corp Ltd - India
- Heidelberg Cement - Germany
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Commonwealth Bank - Australia
- Vedanta Resources Plc - India
- Kumho Petrochemical, South Korea
- Sakthi Sugars Limited - India
- MS Steel International - UAE
- Trasteel International SA, Italy
- Australian Commodity Traders Exchange
- Marubeni Corporation - India
- Jorong Barutama Greston.PT - Indonesia
- Ind-Barath Power Infra Limited - India
- McConnell Dowell - Australia
- Kepco SPC Power Corporation, Philippines
- Eastern Energy - Thailand
- Holcim Trading Pte Ltd - Singapore
- Romanian Commodities Exchange
- Vizag Seaport Private Limited - India
- Bhoruka Overseas - Indonesia
- Indian Oil Corporation Limited
- Tamil Nadu electricity Board
- Manunggal Multi Energi - Indonesia
- Directorate Of Revenue Intelligence - India
- Billiton Holdings Pty Ltd - Australia
- Sinarmas Energy and Mining - Indonesia
- Uttam Galva Steels Limited - India
- Meralco Power Generation, Philippines
- Orica Australia Pty. Ltd.
- Bangladesh Power Developement Board
- Rio Tinto Coal - Australia
- Sojitz Corporation - Japan
- Meenaskhi Energy Private Limited - India
- PTC India Limited - India
- Star Paper Mills Limited - India
- Wilmar Investment Holdings
- New Zealand Coal & Carbon
- Madhucon Powers Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Formosa Plastics Group - Taiwan
- White Energy Company Limited
- Directorate General of MIneral and Coal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- India Bulls Power Limited - India
- London Commodity Brokers - England
- TeaM Sual Corporation - Philippines
- Global Green Power PLC Corporation, Philippines
- Electricity Generating Authority of Thailand
- Barasentosa Lestari - Indonesia
- OPG Power Generation Pvt Ltd - India
- Central Electricity Authority - India
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