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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, 04 March 11
IRON ORE FROM INDIA HAS BEEN QUIET
Handy
Activity has been gradually rising in the Atlantic but it is mostly confined to the USG market. Short period basis redelivery Atlantic has b ...
Thursday, 03 March 11
TNPL INDIA LOOKING FOR 160,000 MT OF NON-COKING COAL
COALspot.com - Tamil Nadu Newsprint and Papers Ltd. is seeking to import 160,000 plus minus 5 percent metric tons of non-coking coal with Gross Calo ...
Wednesday, 02 March 11
MIXED FORTUNES FOR DRY BULK OWNERS THIS WEEK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Although the dry bulk market has been on the positive side this week, things still look quite uncertain in the near term, with most owners puzzled a ...
Wednesday, 02 March 11
INDIA, 2ND LARGEST IMPORTER OF INDONESIAN COAL IN 2010
COALspot.com: Indonesia, the world largest coal exporter, shipped 24.68 million tons of coal in January 2011, which was 1.19 percent higher Y-o- ...
Tuesday, 01 March 11
GANGAVARAM PORT, AN INDIAN MODERN PORT CREATES RECORD
COALspot.com - Gangavaram Port, the deepest and the most modern port in India creates yet another record by discharging 65349 MT Coking Coal in 24 h ...
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- London Commodity Brokers - England
- Ind-Barath Power Infra Limited - India
- Therma Luzon, Inc, Philippines
- Coalindo Energy - Indonesia
- Central Electricity Authority - India
- Krishnapatnam Port Company Ltd. - India
- Global Coal Blending Company Limited - Australia
- Sinarmas Energy and Mining - Indonesia
- Baramulti Group, Indonesia
- Indonesian Coal Mining Association
- Kapuas Tunggal Persada - Indonesia
- Electricity Generating Authority of Thailand
- Bhatia International Limited - India
- Billiton Holdings Pty Ltd - Australia
- Rashtriya Ispat Nigam Limited - India
- SN Aboitiz Power Inc, Philippines
- IEA Clean Coal Centre - UK
- Carbofer General Trading SA - India
- Alfred C Toepfer International GmbH - Germany
- Vizag Seaport Private Limited - India
- Rio Tinto Coal - Australia
- Xindia Steels Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Kartika Selabumi Mining - Indonesia
- Uttam Galva Steels Limited - India
- Madhucon Powers Ltd - India
- Thiess Contractors Indonesia
- Sakthi Sugars Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Tata Chemicals Ltd - India
- Makarim & Taira - Indonesia
- Trasteel International SA, Italy
- Standard Chartered Bank - UAE
- Riau Bara Harum - Indonesia
- Anglo American - United Kingdom
- Samtan Co., Ltd - South Korea
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bukit Asam (Persero) Tbk - Indonesia
- Karaikal Port Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Essar Steel Hazira Ltd - India
- Attock Cement Pakistan Limited
- Aboitiz Power Corporation - Philippines
- Indika Energy - Indonesia
- Agrawal Coal Company - India
- Dalmia Cement Bharat India
- Aditya Birla Group - India
- Renaissance Capital - South Africa
- Meralco Power Generation, Philippines
- Georgia Ports Authority, United States
- Larsen & Toubro Limited - India
- Kepco SPC Power Corporation, Philippines
- Electricity Authority, New Zealand
- Ministry of Mines - Canada
- Kalimantan Lumbung Energi - Indonesia
- VISA Power Limited - India
- Port Waratah Coal Services - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- ASAPP Information Group - India
- Coal and Oil Company - UAE
- Kideco Jaya Agung - Indonesia
- Romanian Commodities Exchange
- Eastern Coal Council - USA
- Merrill Lynch Commodities Europe
- Jaiprakash Power Ventures ltd
- Eastern Energy - Thailand
- Ambuja Cements Ltd - India
- Planning Commission, India
- Wilmar Investment Holdings
- Ceylon Electricity Board - Sri Lanka
- TeaM Sual Corporation - Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Interocean Group of Companies - India
- Tamil Nadu electricity Board
- Jorong Barutama Greston.PT - Indonesia
- Kaltim Prima Coal - Indonesia
- Sindya Power Generating Company Private Ltd
- Oldendorff Carriers - Singapore
- Pendopo Energi Batubara - Indonesia
- Global Green Power PLC Corporation, Philippines
- PowerSource Philippines DevCo
- Antam Resourcindo - Indonesia
- Salva Resources Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Central Java Power - Indonesia
- Maheswari Brothers Coal Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Semirara Mining and Power Corporation, Philippines
- Singapore Mercantile Exchange
- The Treasury - Australian Government
- White Energy Company Limited
- Bhushan Steel Limited - India
- The State Trading Corporation of India Ltd
- Australian Coal Association
- Australian Commodity Traders Exchange
- Heidelberg Cement - Germany
- Semirara Mining Corp, Philippines
- PTC India Limited - India
- Posco Energy - South Korea
- Kobexindo Tractors - Indoneisa
- Orica Mining Services - Indonesia
- Ministry of Finance - Indonesia
- Bulk Trading Sa - Switzerland
- IHS Mccloskey Coal Group - USA
- Indogreen Group - Indonesia
- CNBM International Corporation - China
- Maharashtra Electricity Regulatory Commission - India
- Latin American Coal - Colombia
- Mercator Lines Limited - India
- Goldman Sachs - Singapore
- Bayan Resources Tbk. - Indonesia
- Bangladesh Power Developement Board
- Altura Mining Limited, Indonesia
- Siam City Cement PLC, Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kumho Petrochemical, South Korea
- Malabar Cements Ltd - India
- Medco Energi Mining Internasional
- Wood Mackenzie - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Africa Commodities Group - South Africa
- Petron Corporation, Philippines
- Independent Power Producers Association of India
- Petrochimia International Co. Ltd.- Taiwan
- India Bulls Power Limited - India
- International Coal Ventures Pvt Ltd - India
- Deloitte Consulting - India
- OPG Power Generation Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Holcim Trading Pte Ltd - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Cement Manufacturers Association - India
- Leighton Contractors Pty Ltd - Australia
- PetroVietnam Power Coal Import and Supply Company
- Energy Development Corp, Philippines
- Mintek Dendrill Indonesia
- McConnell Dowell - Australia
- Cigading International Bulk Terminal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Sarangani Energy Corporation, Philippines
- Chamber of Mines of South Africa
- Parry Sugars Refinery, India
- Miang Besar Coal Terminal - Indonesia
- Jindal Steel & Power Ltd - India
- Price Waterhouse Coopers - Russia
- LBH Netherlands Bv - Netherlands
- GMR Energy Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Metalloyd Limited - United Kingdom
- Indian Energy Exchange, India
- Indo Tambangraya Megah - Indonesia
- Parliament of New Zealand
- Binh Thuan Hamico - Vietnam
- SMC Global Power, Philippines
- Economic Council, Georgia
- Energy Link Ltd, New Zealand
- GAC Shipping (India) Pvt Ltd
- Savvy Resources Ltd - HongKong
- Straits Asia Resources Limited - Singapore
- Chettinad Cement Corporation Ltd - India
- Indian Oil Corporation Limited
- Commonwealth Bank - Australia
- Bhoruka Overseas - Indonesia
- Coastal Gujarat Power Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Edison Trading Spa - Italy
- Borneo Indobara - Indonesia
- Siam City Cement - Thailand
- Directorate General of MIneral and Coal - Indonesia
- New Zealand Coal & Carbon
- Toyota Tsusho Corporation, Japan
- Videocon Industries ltd - India
- San Jose City I Power Corp, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Minerals Council of Australia
- Intertek Mineral Services - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Bukit Baiduri Energy - Indonesia
- Marubeni Corporation - India
- Globalindo Alam Lestari - Indonesia
- Gujarat Sidhee Cement - India
- Meenaskhi Energy Private Limited - India
- Iligan Light & Power Inc, Philippines
- Banpu Public Company Limited - Thailand
- Sical Logistics Limited - India
- Global Business Power Corporation, Philippines
- Vedanta Resources Plc - India
- Star Paper Mills Limited - India
- Lanco Infratech Ltd - India
- Orica Australia Pty. Ltd.
- Asmin Koalindo Tuhup - Indonesia
- Mjunction Services Limited - India
- MS Steel International - UAE
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bharathi Cement Corporation - India
- Simpson Spence & Young - Indonesia
- The University of Queensland
- ICICI Bank Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bukit Makmur.PT - Indonesia
- Formosa Plastics Group - Taiwan
- Kohat Cement Company Ltd. - Pakistan
- PNOC Exploration Corporation - Philippines
- GVK Power & Infra Limited - India
- SMG Consultants - Indonesia
- Manunggal Multi Energi - Indonesia
- Directorate Of Revenue Intelligence - India
- Ministry of Transport, Egypt
- Grasim Industreis Ltd - India
- AsiaOL BioFuels Corp., Philippines
- European Bulk Services B.V. - Netherlands
- Thai Mozambique Logistica
- Power Finance Corporation Ltd., India
- Sree Jayajothi Cements Limited - India
- Mercuria Energy - Indonesia
- Sojitz Corporation - Japan
- CIMB Investment Bank - Malaysia
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