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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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Thursday, 24 March 11
DRY BULK MARKET RISES, CAPESIZES GAIN BUT REMAIN LOW EARNERS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market posted modest gains on Wednesday, with the Baltic Dry Index rising to 1,565 points, up by 1.43 percent on the day, led by gains ...
Wednesday, 23 March 11
INDIAS TNPL RECEIVED 1.120 MMTS OF COAL AGAINST ITS 160K MT INQUIRY
COALspot.com - Tamil Nadu Newsprint and Papers Ltd. has closed its inquiry today.
Seven Indian coal traders have submitted price bid to sup ...
Tuesday, 22 March 11
MONNET ISPAT & ENERGY LIMITED ACQUIRES INDONESIAN COAL COMPANY THROUGH ITS SUBSIDIARY MONNET GLOBAL LIMITED
Monnet Global Limited (MGL) acquires PT Sarwa Sembada Karya Bumi, Sumatra & on part exploration the reserves of 65 million tonne on Thermal Coal ...
Tuesday, 22 March 11
RI COAL EXPORTS TO JAPAN MAY BE DIVERTED TO OTHER COUNTRIES - THE JAKARTA POST
The Jakarta Post reported that, Indonesia’s coal exports to Japan will likely be diverted to other countries for several months after the rece ...
Tuesday, 22 March 11
KRISHNAPATNAM PORT SETS ALL INDIA RECORD FOR COAL DISCHARGING
COALspot.com - "Krishnapatnam Port has set an all India record for discharging 71,587 tons of steam coal in just 24 hrs using the conventional ...
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- Karbindo Abesyapradhi - Indoneisa
- Electricity Generating Authority of Thailand
- GAC Shipping (India) Pvt Ltd
- Salva Resources Pvt Ltd - India
- IEA Clean Coal Centre - UK
- European Bulk Services B.V. - Netherlands
- Romanian Commodities Exchange
- Renaissance Capital - South Africa
- Samtan Co., Ltd - South Korea
- Therma Luzon, Inc, Philippines
- Ministry of Transport, Egypt
- Bharathi Cement Corporation - India
- PetroVietnam Power Coal Import and Supply Company
- Port Waratah Coal Services - Australia
- Pendopo Energi Batubara - Indonesia
- Jindal Steel & Power Ltd - India
- Commonwealth Bank - Australia
- Riau Bara Harum - Indonesia
- GMR Energy Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Planning Commission, India
- Thai Mozambique Logistica
- Antam Resourcindo - Indonesia
- The University of Queensland
- Bayan Resources Tbk. - Indonesia
- Coastal Gujarat Power Limited - India
- The Treasury - Australian Government
- Marubeni Corporation - India
- Kartika Selabumi Mining - Indonesia
- Chamber of Mines of South Africa
- Medco Energi Mining Internasional
- PTC India Limited - India
- Ministry of Mines - Canada
- Global Business Power Corporation, Philippines
- Agrawal Coal Company - India
- Semirara Mining Corp, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Mercator Lines Limited - India
- Grasim Industreis Ltd - India
- Jaiprakash Power Ventures ltd
- Petron Corporation, Philippines
- Carbofer General Trading SA - India
- Malabar Cements Ltd - India
- London Commodity Brokers - England
- SN Aboitiz Power Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Merrill Lynch Commodities Europe
- Bukit Baiduri Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Sinarmas Energy and Mining - Indonesia
- Bhushan Steel Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Posco Energy - South Korea
- Parliament of New Zealand
- Metalloyd Limited - United Kingdom
- Kaltim Prima Coal - Indonesia
- Sakthi Sugars Limited - India
- Africa Commodities Group - South Africa
- Semirara Mining and Power Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Timah Investasi Mineral - Indoneisa
- Standard Chartered Bank - UAE
- Global Green Power PLC Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Economic Council, Georgia
- Mjunction Services Limited - India
- Orica Australia Pty. Ltd.
- Bukit Makmur.PT - Indonesia
- CNBM International Corporation - China
- Eastern Coal Council - USA
- Bangladesh Power Developement Board
- Australian Commodity Traders Exchange
- Manunggal Multi Energi - Indonesia
- Straits Asia Resources Limited - Singapore
- Rio Tinto Coal - Australia
- Mercuria Energy - Indonesia
- Power Finance Corporation Ltd., India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bulk Trading Sa - Switzerland
- The State Trading Corporation of India Ltd
- Sical Logistics Limited - India
- Makarim & Taira - Indonesia
- Xindia Steels Limited - India
- Indian Oil Corporation Limited
- Barasentosa Lestari - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Siam City Cement PLC, Thailand
- Attock Cement Pakistan Limited
- Globalindo Alam Lestari - Indonesia
- Mintek Dendrill Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Tamil Nadu electricity Board
- AsiaOL BioFuels Corp., Philippines
- Parry Sugars Refinery, India
- TeaM Sual Corporation - Philippines
- Independent Power Producers Association of India
- Directorate Of Revenue Intelligence - India
- OPG Power Generation Pvt Ltd - India
- VISA Power Limited - India
- Georgia Ports Authority, United States
- Kumho Petrochemical, South Korea
- Sarangani Energy Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Thiess Contractors Indonesia
- Videocon Industries ltd - India
- Savvy Resources Ltd - HongKong
- Indogreen Group - Indonesia
- McConnell Dowell - Australia
- Trasteel International SA, Italy
- PowerSource Philippines DevCo
- Borneo Indobara - Indonesia
- ASAPP Information Group - India
- ICICI Bank Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sojitz Corporation - Japan
- Latin American Coal - Colombia
- Baramulti Group, Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Indian Energy Exchange, India
- Indika Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Electricity Authority, New Zealand
- PNOC Exploration Corporation - Philippines
- Dalmia Cement Bharat India
- Billiton Holdings Pty Ltd - Australia
- Iligan Light & Power Inc, Philippines
- Gujarat Sidhee Cement - India
- Global Coal Blending Company Limited - Australia
- Ind-Barath Power Infra Limited - India
- Rashtriya Ispat Nigam Limited - India
- San Jose City I Power Corp, Philippines
- Wilmar Investment Holdings
- Oldendorff Carriers - Singapore
- Kobexindo Tractors - Indoneisa
- Toyota Tsusho Corporation, Japan
- GVK Power & Infra Limited - India
- Vedanta Resources Plc - India
- Heidelberg Cement - Germany
- Jorong Barutama Greston.PT - Indonesia
- Siam City Cement - Thailand
- Singapore Mercantile Exchange
- Price Waterhouse Coopers - Russia
- International Coal Ventures Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Kideco Jaya Agung - Indonesia
- Tata Chemicals Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Ceylon Electricity Board - Sri Lanka
- Aditya Birla Group - India
- Holcim Trading Pte Ltd - Singapore
- Minerals Council of Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Coal and Oil Company - UAE
- MS Steel International - UAE
- Ministry of Finance - Indonesia
- Vizag Seaport Private Limited - India
- Australian Coal Association
- SMG Consultants - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Simpson Spence & Young - Indonesia
- Essar Steel Hazira Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Altura Mining Limited, Indonesia
- Central Electricity Authority - India
- Binh Thuan Hamico - Vietnam
- Madhucon Powers Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Lanco Infratech Ltd - India
- White Energy Company Limited
- Gujarat Mineral Development Corp Ltd - India
- Bhatia International Limited - India
- India Bulls Power Limited - India
- Orica Mining Services - Indonesia
- Star Paper Mills Limited - India
- Meenaskhi Energy Private Limited - India
- Central Java Power - Indonesia
- Energy Link Ltd, New Zealand
- Sree Jayajothi Cements Limited - India
- Interocean Group of Companies - India
- Wood Mackenzie - Singapore
- Deloitte Consulting - India
- SMC Global Power, Philippines
- Energy Development Corp, Philippines
- CIMB Investment Bank - Malaysia
- New Zealand Coal & Carbon
- Asmin Koalindo Tuhup - Indonesia
- Coalindo Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Formosa Plastics Group - Taiwan
- Miang Besar Coal Terminal - Indonesia
- Cement Manufacturers Association - India
- Meralco Power Generation, Philippines
- Chettinad Cement Corporation Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Bhoruka Overseas - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Kapuas Tunggal Persada - Indonesia
- Ambuja Cements Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Anglo American - United Kingdom
- Directorate General of MIneral and Coal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Karaikal Port Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Edison Trading Spa - Italy
- Eastern Energy - Thailand
- GN Power Mariveles Coal Plant, Philippines
- Goldman Sachs - Singapore
- Larsen & Toubro Limited - India
- Alfred C Toepfer International GmbH - Germany
- Gujarat Electricity Regulatory Commission - India
- Indonesian Coal Mining Association
- Petrochimia International Co. Ltd.- Taiwan
- Maharashtra Electricity Regulatory Commission - India
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