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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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Tuesday, 08 March 11
US$ 8 BILLION WORTH OF INFRASTRUCTURE PROJECTS IN PIPELINE IN INDONESIA - WOOD MACKENZIE
India’s Increasing Demand for Thermal Coal Cannot Be Satisfied Without Emerging Coal Areas in Indonesia - Wood Mackenzie
At Coa ...
Tuesday, 08 March 11
INDIA'S VEDANTA TO ACQUIRE COAL MINES IN OVERSEAS
COALspot.com - India's Vedanta group is also looking at long-term off take agreements and possible acquire of coal mines overseas, the official sai ...
Tuesday, 08 March 11
MINERS SAY VALUE-ADDED LAW WILL HURT IN THE LONG RUN - THE JAKARTA GLOBE
The Jakarta Globe reported that, Government plans to require miners to give added value to their exported commodities could end up costing the count ...
Tuesday, 08 March 11
THE PANAMAX MARKET THIS WEEK FIRMED UP - BRS
Underlining the unpredictability of the current market, rates for all dry bulk segments swung up again last week. Stronger exports out of South Amer ...
Sunday, 06 March 11
THE S6 ROUTE MAY CONTINUE TO BE FIRM - VISTAAR
COALspot.com - The freight market was firm this week with all indices up. The BDI , Cape Index and Panamax index was up by almost 9 pct where as Sup ...
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- South Luzon Thermal Energy Corporation
- OPG Power Generation Pvt Ltd - India
- Aditya Birla Group - India
- IEA Clean Coal Centre - UK
- Africa Commodities Group - South Africa
- Global Green Power PLC Corporation, Philippines
- Parry Sugars Refinery, India
- Attock Cement Pakistan Limited
- Agrawal Coal Company - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Renaissance Capital - South Africa
- SN Aboitiz Power Inc, Philippines
- Straits Asia Resources Limited - Singapore
- Indo Tambangraya Megah - Indonesia
- India Bulls Power Limited - India
- Meenaskhi Energy Private Limited - India
- Metalloyd Limited - United Kingdom
- Chettinad Cement Corporation Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Interocean Group of Companies - India
- Ind-Barath Power Infra Limited - India
- London Commodity Brokers - England
- Heidelberg Cement - Germany
- Toyota Tsusho Corporation, Japan
- Videocon Industries ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Goldman Sachs - Singapore
- Mintek Dendrill Indonesia
- Bulk Trading Sa - Switzerland
- Parliament of New Zealand
- Tata Chemicals Ltd - India
- Deloitte Consulting - India
- Bangladesh Power Developement Board
- Ambuja Cements Ltd - India
- SMG Consultants - Indonesia
- Indonesian Coal Mining Association
- Ministry of Mines - Canada
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Salva Resources Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- European Bulk Services B.V. - Netherlands
- Cigading International Bulk Terminal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Bhoruka Overseas - Indonesia
- TeaM Sual Corporation - Philippines
- Baramulti Group, Indonesia
- Kumho Petrochemical, South Korea
- Independent Power Producers Association of India
- Sindya Power Generating Company Private Ltd
- Xindia Steels Limited - India
- New Zealand Coal & Carbon
- Vijayanagar Sugar Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Intertek Mineral Services - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Indian Oil Corporation Limited
- Trasteel International SA, Italy
- AsiaOL BioFuels Corp., Philippines
- Vizag Seaport Private Limited - India
- Australian Coal Association
- PNOC Exploration Corporation - Philippines
- The State Trading Corporation of India Ltd
- Economic Council, Georgia
- Tamil Nadu electricity Board
- Coal and Oil Company - UAE
- Minerals Council of Australia
- Cement Manufacturers Association - India
- Wood Mackenzie - Singapore
- Miang Besar Coal Terminal - Indonesia
- Petron Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Indian Energy Exchange, India
- Coalindo Energy - Indonesia
- Lanco Infratech Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Kideco Jaya Agung - Indonesia
- Dalmia Cement Bharat India
- Riau Bara Harum - Indonesia
- Sical Logistics Limited - India
- Power Finance Corporation Ltd., India
- Kepco SPC Power Corporation, Philippines
- Semirara Mining Corp, Philippines
- Siam City Cement - Thailand
- Gujarat Sidhee Cement - India
- Chamber of Mines of South Africa
- Australian Commodity Traders Exchange
- GVK Power & Infra Limited - India
- Sinarmas Energy and Mining - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Latin American Coal - Colombia
- Binh Thuan Hamico - Vietnam
- Krishnapatnam Port Company Ltd. - India
- McConnell Dowell - Australia
- Sree Jayajothi Cements Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Antam Resourcindo - Indonesia
- Singapore Mercantile Exchange
- Altura Mining Limited, Indonesia
- Bhatia International Limited - India
- Kobexindo Tractors - Indoneisa
- Indogreen Group - Indonesia
- CNBM International Corporation - China
- Sakthi Sugars Limited - India
- Oldendorff Carriers - Singapore
- Port Waratah Coal Services - Australia
- The Treasury - Australian Government
- Jindal Steel & Power Ltd - India
- Medco Energi Mining Internasional
- Anglo American - United Kingdom
- Timah Investasi Mineral - Indoneisa
- Kartika Selabumi Mining - Indonesia
- VISA Power Limited - India
- GMR Energy Limited - India
- Barasentosa Lestari - Indonesia
- Georgia Ports Authority, United States
- LBH Netherlands Bv - Netherlands
- International Coal Ventures Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Banpu Public Company Limited - Thailand
- Electricity Generating Authority of Thailand
- Global Coal Blending Company Limited - Australia
- Malabar Cements Ltd - India
- Edison Trading Spa - Italy
- Merrill Lynch Commodities Europe
- GN Power Mariveles Coal Plant, Philippines
- Rio Tinto Coal - Australia
- Bhushan Steel Limited - India
- Coastal Gujarat Power Limited - India
- Directorate Of Revenue Intelligence - India
- Indika Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Savvy Resources Ltd - HongKong
- Bukit Asam (Persero) Tbk - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- SMC Global Power, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Price Waterhouse Coopers - Russia
- Orica Australia Pty. Ltd.
- Simpson Spence & Young - Indonesia
- CIMB Investment Bank - Malaysia
- The University of Queensland
- Marubeni Corporation - India
- Thiess Contractors Indonesia
- Ministry of Finance - Indonesia
- Karaikal Port Pvt Ltd - India
- Posco Energy - South Korea
- Vedanta Resources Plc - India
- Orica Mining Services - Indonesia
- Bharathi Cement Corporation - India
- Energy Link Ltd, New Zealand
- PTC India Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Larsen & Toubro Limited - India
- Rashtriya Ispat Nigam Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Eastern Coal Council - USA
- Star Paper Mills Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Meralco Power Generation, Philippines
- Bukit Makmur.PT - Indonesia
- Sarangani Energy Corporation, Philippines
- Energy Development Corp, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Global Business Power Corporation, Philippines
- Carbofer General Trading SA - India
- Central Java Power - Indonesia
- Uttam Galva Steels Limited - India
- Electricity Authority, New Zealand
- ICICI Bank Limited - India
- Siam City Cement PLC, Thailand
- Gujarat Mineral Development Corp Ltd - India
- Borneo Indobara - Indonesia
- Ministry of Transport, Egypt
- Aboitiz Power Corporation - Philippines
- IHS Mccloskey Coal Group - USA
- ASAPP Information Group - India
- MS Steel International - UAE
- Semirara Mining and Power Corporation, Philippines
- PowerSource Philippines DevCo
- Romanian Commodities Exchange
- Manunggal Multi Energi - Indonesia
- San Jose City I Power Corp, Philippines
- Makarim & Taira - Indonesia
- Formosa Plastics Group - Taiwan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Grasim Industreis Ltd - India
- Mercuria Energy - Indonesia
- White Energy Company Limited
- Central Electricity Authority - India
- Maharashtra Electricity Regulatory Commission - India
- Therma Luzon, Inc, Philippines
- Maheswari Brothers Coal Limited - India
- Standard Chartered Bank - UAE
- Sojitz Corporation - Japan
- Mercator Lines Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kapuas Tunggal Persada - Indonesia
- Globalindo Alam Lestari - Indonesia
- Kaltim Prima Coal - Indonesia
- Thai Mozambique Logistica
- Alfred C Toepfer International GmbH - Germany
- Jaiprakash Power Ventures ltd
- Mjunction Services Limited - India
- Commonwealth Bank - Australia
- Madhucon Powers Ltd - India
- Samtan Co., Ltd - South Korea
- Eastern Energy - Thailand
- Planning Commission, India
- Petrochimia International Co. Ltd.- Taiwan
- Bayan Resources Tbk. - Indonesia
- Bukit Baiduri Energy - Indonesia
- Wilmar Investment Holdings
- Offshore Bulk Terminal Pte Ltd, Singapore
- Essar Steel Hazira Ltd - India
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