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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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Friday, 01 April 11
DRY BULK MARKET WEAKENS ON SLOWER DEMAND, HOPES FOR MID-TERM REBOUND ON JAPANS RECONSTRUCTION - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market, as reflected in the Baltic Dry Index (BDI) retreated for a third day yesterday, after staying flat on Monday, to end at 1,530 p ...
Wednesday, 30 March 11
CHALLENGER SIGNS OPTION AGREEMENTS TO PURCHASE FOUR COAL PROJECTS IN INDONESIA
Challenger Signs Three Exclusive Option Agreements to Purchase Four Coal Projects in East Kalimantan, Indonesia
Challenger Deep Resources Corp.ha ...
Wednesday, 30 March 11
KPCL TO IMPORT ONE MILLION TONS OF 6300 GAD COAL
COALspot.com - Karnataka Power Corporation a state utility of Karnataka, India called for open tender for supply of one million tons of 6300 Kcal/kg ...
Wednesday, 30 March 11
WIKA GRABS PROJECT FROM ADARO INDONESIA - INSIDER STORIES
One of Indonesia's largest thermal coal PT Adaro Indonesia has finally mandated PT Wijaya Karya Tbk (WIKA) as a contractor to install and manage ov ...
Tuesday, 29 March 11
JAPAN FACTOR RIPPLING THROUGH THE SHIPPING MARKETS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With the world watching the latest developments regarding the nuclear crisis in Japan and the devastating effects of the recent tragedy that struck ...
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- Bukit Baiduri Energy - Indonesia
- Medco Energi Mining Internasional
- VISA Power Limited - India
- Intertek Mineral Services - Indonesia
- IEA Clean Coal Centre - UK
- Indo Tambangraya Megah - Indonesia
- LBH Netherlands Bv - Netherlands
- Coal and Oil Company - UAE
- New Zealand Coal & Carbon
- Videocon Industries ltd - India
- Sindya Power Generating Company Private Ltd
- Billiton Holdings Pty Ltd - Australia
- Makarim & Taira - Indonesia
- Mercator Lines Limited - India
- Central Java Power - Indonesia
- SMG Consultants - Indonesia
- Vedanta Resources Plc - India
- Globalindo Alam Lestari - Indonesia
- Bhoruka Overseas - Indonesia
- Thiess Contractors Indonesia
- Altura Mining Limited, Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Indogreen Group - Indonesia
- Alfred C Toepfer International GmbH - Germany
- McConnell Dowell - Australia
- Kobexindo Tractors - Indoneisa
- Wilmar Investment Holdings
- Salva Resources Pvt Ltd - India
- CNBM International Corporation - China
- Essar Steel Hazira Ltd - India
- Miang Besar Coal Terminal - Indonesia
- OPG Power Generation Pvt Ltd - India
- Commonwealth Bank - Australia
- GVK Power & Infra Limited - India
- Agrawal Coal Company - India
- Gujarat Mineral Development Corp Ltd - India
- Heidelberg Cement - Germany
- Wood Mackenzie - Singapore
- Global Green Power PLC Corporation, Philippines
- Bharathi Cement Corporation - India
- AsiaOL BioFuels Corp., Philippines
- Standard Chartered Bank - UAE
- Orica Australia Pty. Ltd.
- Asmin Koalindo Tuhup - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Ministry of Mines - Canada
- Siam City Cement PLC, Thailand
- Mercuria Energy - Indonesia
- Singapore Mercantile Exchange
- Price Waterhouse Coopers - Russia
- Port Waratah Coal Services - Australia
- Antam Resourcindo - Indonesia
- Semirara Mining Corp, Philippines
- Economic Council, Georgia
- Ambuja Cements Ltd - India
- Independent Power Producers Association of India
- Gujarat Electricity Regulatory Commission - India
- Siam City Cement - Thailand
- Energy Link Ltd, New Zealand
- Marubeni Corporation - India
- Indika Energy - Indonesia
- Gujarat Sidhee Cement - India
- Bangladesh Power Developement Board
- Eastern Coal Council - USA
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Iligan Light & Power Inc, Philippines
- The University of Queensland
- Madhucon Powers Ltd - India
- Deloitte Consulting - India
- Larsen & Toubro Limited - India
- Meralco Power Generation, Philippines
- Tata Chemicals Ltd - India
- Global Coal Blending Company Limited - Australia
- Minerals Council of Australia
- Savvy Resources Ltd - HongKong
- Mintek Dendrill Indonesia
- Goldman Sachs - Singapore
- Uttam Galva Steels Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Anglo American - United Kingdom
- Sinarmas Energy and Mining - Indonesia
- Interocean Group of Companies - India
- Neyveli Lignite Corporation Ltd, - India
- Indonesian Coal Mining Association
- India Bulls Power Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Attock Cement Pakistan Limited
- Directorate General of MIneral and Coal - Indonesia
- Sakthi Sugars Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Electricity Authority, New Zealand
- PTC India Limited - India
- International Coal Ventures Pvt Ltd - India
- Baramulti Group, Indonesia
- Grasim Industreis Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Jindal Steel & Power Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Meenaskhi Energy Private Limited - India
- Ministry of Transport, Egypt
- ICICI Bank Limited - India
- Dalmia Cement Bharat India
- Simpson Spence & Young - Indonesia
- Aboitiz Power Corporation - Philippines
- Kaltim Prima Coal - Indonesia
- The State Trading Corporation of India Ltd
- TeaM Sual Corporation - Philippines
- MS Steel International - UAE
- TNB Fuel Sdn Bhd - Malaysia
- Pipit Mutiara Jaya. PT, Indonesia
- Electricity Generating Authority of Thailand
- ASAPP Information Group - India
- Metalloyd Limited - United Kingdom
- Kideco Jaya Agung - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Global Business Power Corporation, Philippines
- Mjunction Services Limited - India
- Central Electricity Authority - India
- Parry Sugars Refinery, India
- Orica Mining Services - Indonesia
- Riau Bara Harum - Indonesia
- IHS Mccloskey Coal Group - USA
- Binh Thuan Hamico - Vietnam
- Kalimantan Lumbung Energi - Indonesia
- Xindia Steels Limited - India
- Pendopo Energi Batubara - Indonesia
- CIMB Investment Bank - Malaysia
- Bhushan Steel Limited - India
- European Bulk Services B.V. - Netherlands
- Cigading International Bulk Terminal - Indonesia
- SMC Global Power, Philippines
- The Treasury - Australian Government
- Latin American Coal - Colombia
- Directorate Of Revenue Intelligence - India
- Planning Commission, India
- Parliament of New Zealand
- Australian Commodity Traders Exchange
- Indian Oil Corporation Limited
- Holcim Trading Pte Ltd - Singapore
- Sojitz Corporation - Japan
- PowerSource Philippines DevCo
- Straits Asia Resources Limited - Singapore
- Sarangani Energy Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Renaissance Capital - South Africa
- Borneo Indobara - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Petron Corporation, Philippines
- Tamil Nadu electricity Board
- Semirara Mining and Power Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Banpu Public Company Limited - Thailand
- White Energy Company Limited
- GMR Energy Limited - India
- Ministry of Finance - Indonesia
- Coalindo Energy - Indonesia
- Australian Coal Association
- Timah Investasi Mineral - Indoneisa
- Romanian Commodities Exchange
- SN Aboitiz Power Inc, Philippines
- Bulk Trading Sa - Switzerland
- Manunggal Multi Energi - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Maheswari Brothers Coal Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Toyota Tsusho Corporation, Japan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Carbofer General Trading SA - India
- Power Finance Corporation Ltd., India
- Samtan Co., Ltd - South Korea
- Africa Commodities Group - South Africa
- Barasentosa Lestari - Indonesia
- Rio Tinto Coal - Australia
- Karaikal Port Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Ind-Barath Power Infra Limited - India
- Star Paper Mills Limited - India
- Trasteel International SA, Italy
- London Commodity Brokers - England
- Edison Trading Spa - Italy
- Chettinad Cement Corporation Ltd - India
- Posco Energy - South Korea
- Thai Mozambique Logistica
- Sical Logistics Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Georgia Ports Authority, United States
- Bayan Resources Tbk. - Indonesia
- Kumho Petrochemical, South Korea
- Rashtriya Ispat Nigam Limited - India
- Coastal Gujarat Power Limited - India
- Kapuas Tunggal Persada - Indonesia
- Energy Development Corp, Philippines
- South Luzon Thermal Energy Corporation
- Kartika Selabumi Mining - Indonesia
- Bhatia International Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Cement Manufacturers Association - India
- Chamber of Mines of South Africa
- Formosa Plastics Group - Taiwan
- Malabar Cements Ltd - India
- Indian Energy Exchange, India
- Bahari Cakrawala Sebuku - Indonesia
- San Jose City I Power Corp, Philippines
- GAC Shipping (India) Pvt Ltd
- Vizag Seaport Private Limited - India
- Lanco Infratech Ltd - India
- Merrill Lynch Commodities Europe
- Eastern Energy - Thailand
- Jaiprakash Power Ventures ltd
- Aditya Birla Group - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- PNOC Exploration Corporation - Philippines
- Leighton Contractors Pty Ltd - Australia
- Kepco SPC Power Corporation, Philippines
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