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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, 17 April 11
ADARO TO PROPOSE US$75 MILLION DIVIDEND
COALspot.com - One of Indonesia's largest coal miner PT Adaro Energy Tbk (ADRO) is keen to propose a final dividend of US$75 million or Rp 20.17 (U ...
Saturday, 16 April 11
TNPL RECEIVES 1.6MT OF COAL OFFERS - SOURCES
COALspot.com - Tamil Nadu Newsprint and Papers Ltd. has closed its 160,000 MT coal inquiry today.
More than a half a dozen of Indian coal t ...
Friday, 15 April 11
DRY BULK MARKET KEEPS ON FALLING, ON LOW DEMAND AND HIGH SUPPLY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has kept its falling patern this week, with the industry’s benchmark, the Baltic Dry Index (BDI) retreating again yesterda ...
Thursday, 14 April 11
SUPRAS IN N.CHINA GET CLOSE TO $12000 FOR TRIPS VIA INDONESIA TO INDIA - FEARNBULK
Handy
The Atlantic market remains flat - very little new/fresh business and slow activity. Considerable prompt tonnage remains unfixed. The USG pa ...
Wednesday, 13 April 11
CAPESIZE VESSELS ARE DELIVERED AT A PACE OF ONE NEW VESSEL EVERY SECOND DAY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
In a clear sign that it will take a significant rise in global seaborne dry bulk trade in order to be able to absorb the flurry of new building tonn ...
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- TeaM Sual Corporation - Philippines
- Marubeni Corporation - India
- PetroVietnam Power Coal Import and Supply Company
- Cement Manufacturers Association - India
- Globalindo Alam Lestari - Indonesia
- Altura Mining Limited, Indonesia
- Indogreen Group - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Gujarat Electricity Regulatory Commission - India
- Bukit Makmur.PT - Indonesia
- Kepco SPC Power Corporation, Philippines
- Singapore Mercantile Exchange
- Orica Mining Services - Indonesia
- Antam Resourcindo - Indonesia
- Mercuria Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bhatia International Limited - India
- Coastal Gujarat Power Limited - India
- Energy Development Corp, Philippines
- Kideco Jaya Agung - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Tamil Nadu electricity Board
- ASAPP Information Group - India
- SMC Global Power, Philippines
- India Bulls Power Limited - India
- Parry Sugars Refinery, India
- New Zealand Coal & Carbon
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Medco Energi Mining Internasional
- Chamber of Mines of South Africa
- Jaiprakash Power Ventures ltd
- Salva Resources Pvt Ltd - India
- McConnell Dowell - Australia
- Agrawal Coal Company - India
- Rashtriya Ispat Nigam Limited - India
- Lanco Infratech Ltd - India
- Indonesian Coal Mining Association
- Sinarmas Energy and Mining - Indonesia
- Gujarat Sidhee Cement - India
- Power Finance Corporation Ltd., India
- Bangladesh Power Developement Board
- Orica Australia Pty. Ltd.
- Australian Coal Association
- Oldendorff Carriers - Singapore
- Indika Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Semirara Mining Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- SN Aboitiz Power Inc, Philippines
- Thiess Contractors Indonesia
- GVK Power & Infra Limited - India
- Baramulti Group, Indonesia
- Cigading International Bulk Terminal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Bukit Baiduri Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- The State Trading Corporation of India Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Coalindo Energy - Indonesia
- Sical Logistics Limited - India
- Formosa Plastics Group - Taiwan
- Jorong Barutama Greston.PT - Indonesia
- Interocean Group of Companies - India
- Therma Luzon, Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Pendopo Energi Batubara - Indonesia
- Trasteel International SA, Italy
- Romanian Commodities Exchange
- Bulk Trading Sa - Switzerland
- Attock Cement Pakistan Limited
- Bukit Asam (Persero) Tbk - Indonesia
- CIMB Investment Bank - Malaysia
- Timah Investasi Mineral - Indoneisa
- The Treasury - Australian Government
- Sarangani Energy Corporation, Philippines
- MS Steel International - UAE
- Samtan Co., Ltd - South Korea
- Billiton Holdings Pty Ltd - Australia
- Intertek Mineral Services - Indonesia
- Karaikal Port Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Standard Chartered Bank - UAE
- Global Business Power Corporation, Philippines
- Anglo American - United Kingdom
- Georgia Ports Authority, United States
- Sindya Power Generating Company Private Ltd
- Indian Oil Corporation Limited
- Ministry of Finance - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Kobexindo Tractors - Indoneisa
- Independent Power Producers Association of India
- Latin American Coal - Colombia
- Uttam Galva Steels Limited - India
- Heidelberg Cement - Germany
- Ceylon Electricity Board - Sri Lanka
- Iligan Light & Power Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- White Energy Company Limited
- CNBM International Corporation - China
- Pipit Mutiara Jaya. PT, Indonesia
- Mercator Lines Limited - India
- Eastern Energy - Thailand
- Mjunction Services Limited - India
- Planning Commission, India
- Manunggal Multi Energi - Indonesia
- Videocon Industries ltd - India
- Port Waratah Coal Services - Australia
- Neyveli Lignite Corporation Ltd, - India
- Borneo Indobara - Indonesia
- Maheswari Brothers Coal Limited - India
- Riau Bara Harum - Indonesia
- Parliament of New Zealand
- Karbindo Abesyapradhi - Indoneisa
- Grasim Industreis Ltd - India
- Larsen & Toubro Limited - India
- Edison Trading Spa - Italy
- Ministry of Mines - Canada
- Bhoruka Overseas - Indonesia
- Binh Thuan Hamico - Vietnam
- AsiaOL BioFuels Corp., Philippines
- Banpu Public Company Limited - Thailand
- Alfred C Toepfer International GmbH - Germany
- Bhushan Steel Limited - India
- Mintek Dendrill Indonesia
- Bharathi Cement Corporation - India
- Malabar Cements Ltd - India
- Indian Energy Exchange, India
- Directorate Of Revenue Intelligence - India
- Toyota Tsusho Corporation, Japan
- Kartika Selabumi Mining - Indonesia
- Africa Commodities Group - South Africa
- Chettinad Cement Corporation Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Vizag Seaport Private Limited - India
- Aditya Birla Group - India
- Xindia Steels Limited - India
- VISA Power Limited - India
- Makarim & Taira - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Rio Tinto Coal - Australia
- Minerals Council of Australia
- PTC India Limited - India
- Sojitz Corporation - Japan
- Bahari Cakrawala Sebuku - Indonesia
- European Bulk Services B.V. - Netherlands
- Ministry of Transport, Egypt
- Kalimantan Lumbung Energi - Indonesia
- Posco Energy - South Korea
- London Commodity Brokers - England
- Electricity Authority, New Zealand
- South Luzon Thermal Energy Corporation
- Electricity Generating Authority of Thailand
- Essar Steel Hazira Ltd - India
- Leighton Contractors Pty Ltd - Australia
- PowerSource Philippines DevCo
- Carbofer General Trading SA - India
- Krishnapatnam Port Company Ltd. - India
- Indo Tambangraya Megah - Indonesia
- Energy Link Ltd, New Zealand
- Bayan Resources Tbk. - Indonesia
- Petron Corporation, Philippines
- Meralco Power Generation, Philippines
- Siam City Cement PLC, Thailand
- Sree Jayajothi Cements Limited - India
- Wood Mackenzie - Singapore
- Coal and Oil Company - UAE
- Simpson Spence & Young - Indonesia
- Ind-Barath Power Infra Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Thai Mozambique Logistica
- Meenaskhi Energy Private Limited - India
- Global Coal Blending Company Limited - Australia
- GN Power Mariveles Coal Plant, Philippines
- Star Paper Mills Limited - India
- Kumho Petrochemical, South Korea
- Bank of Tokyo Mitsubishi UFJ Ltd
- Jindal Steel & Power Ltd - India
- Merrill Lynch Commodities Europe
- Dalmia Cement Bharat India
- Sakthi Sugars Limited - India
- Price Waterhouse Coopers - Russia
- Savvy Resources Ltd - HongKong
- Madhucon Powers Ltd - India
- Siam City Cement - Thailand
- Economic Council, Georgia
- ICICI Bank Limited - India
- San Jose City I Power Corp, Philippines
- International Coal Ventures Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Straits Asia Resources Limited - Singapore
- Kaltim Prima Coal - Indonesia
- Barasentosa Lestari - Indonesia
- IHS Mccloskey Coal Group - USA
- Central Java Power - Indonesia
- GAC Shipping (India) Pvt Ltd
- Australian Commodity Traders Exchange
- Tata Chemicals Ltd - India
- Ambuja Cements Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- The University of Queensland
- OPG Power Generation Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Vedanta Resources Plc - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Eastern Coal Council - USA
- Wilmar Investment Holdings
- Deloitte Consulting - India
- Commonwealth Bank - Australia
- GMR Energy Limited - India
- Goldman Sachs - Singapore
- Renaissance Capital - South Africa
- SMG Consultants - Indonesia
- Central Electricity Authority - India
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