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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, 15 February 11
INDONESIAN COAL FOR HARYANA THERMAL PLANTS - PUNJAB NEWS LINE
To tide over the recurring coal shortage at thermal plants Haryana Power Generation Corporation Limited (HPGCL) has gone for Malaysian coal for its ...
Tuesday, 15 February 11
TONNAGE OVERSUPPLY TO CHOKE FREIGHT RATES IN THE COMING MONTHS SAYS BIMCO - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
In a new report assessing the dry bulk market, BIMCO’s analysis suggests that freight rates for Capesize vessels are likely to remain depresse ...
Sunday, 13 February 11
COAL MARKETS 2011 TO HIGHLIGHT INDONESIAN COAL AND NEW SOURCES OF COAL SUPPLY
“Over 300 senior decision-makers from coal mining, power and trading companies expected to congregate in Singapore”
Press Release - K ...
Sunday, 13 February 11
YEAR OF RABBIT PUSHING FREIGHT MARKET UP
COALspot.com – “The market finally moved up with firmness in all sectors with some positive signs of markets recovering”, said Cap ...
Friday, 11 February 11
DRY BULK MARKET HEATING UP ON FRESH CARGO DEMAND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market is on a high this week, with owners of smaller vessels turning their attention towards the spot market, in order to take advanta ...
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- Videocon Industries ltd - India
- Merrill Lynch Commodities Europe
- Metalloyd Limited - United Kingdom
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Straits Asia Resources Limited - Singapore
- PNOC Exploration Corporation - Philippines
- Australian Coal Association
- VISA Power Limited - India
- Borneo Indobara - Indonesia
- Deloitte Consulting - India
- Essar Steel Hazira Ltd - India
- Standard Chartered Bank - UAE
- Ceylon Electricity Board - Sri Lanka
- Toyota Tsusho Corporation, Japan
- Maheswari Brothers Coal Limited - India
- Antam Resourcindo - Indonesia
- Salva Resources Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- International Coal Ventures Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Makarim & Taira - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- European Bulk Services B.V. - Netherlands
- Africa Commodities Group - South Africa
- Parry Sugars Refinery, India
- Jorong Barutama Greston.PT - Indonesia
- Indogreen Group - Indonesia
- White Energy Company Limited
- Mintek Dendrill Indonesia
- Tamil Nadu electricity Board
- The Treasury - Australian Government
- CIMB Investment Bank - Malaysia
- Orica Mining Services - Indonesia
- Coastal Gujarat Power Limited - India
- CNBM International Corporation - China
- Pendopo Energi Batubara - Indonesia
- Singapore Mercantile Exchange
- Australian Commodity Traders Exchange
- Bhatia International Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Port Waratah Coal Services - Australia
- Indo Tambangraya Megah - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sical Logistics Limited - India
- Vizag Seaport Private Limited - India
- Kobexindo Tractors - Indoneisa
- Indika Energy - Indonesia
- Commonwealth Bank - Australia
- Timah Investasi Mineral - Indoneisa
- Eastern Energy - Thailand
- SMG Consultants - Indonesia
- Larsen & Toubro Limited - India
- Meralco Power Generation, Philippines
- ASAPP Information Group - India
- Thai Mozambique Logistica
- Orica Australia Pty. Ltd.
- Sree Jayajothi Cements Limited - India
- Holcim Trading Pte Ltd - Singapore
- Cement Manufacturers Association - India
- Indian Oil Corporation Limited
- Kumho Petrochemical, South Korea
- Bhushan Steel Limited - India
- Wood Mackenzie - Singapore
- Romanian Commodities Exchange
- Anglo American - United Kingdom
- OPG Power Generation Pvt Ltd - India
- Interocean Group of Companies - India
- Alfred C Toepfer International GmbH - Germany
- Energy Development Corp, Philippines
- Malabar Cements Ltd - India
- Medco Energi Mining Internasional
- Asmin Koalindo Tuhup - Indonesia
- Chamber of Mines of South Africa
- London Commodity Brokers - England
- Petrochimia International Co. Ltd.- Taiwan
- Barasentosa Lestari - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Renaissance Capital - South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- McConnell Dowell - Australia
- Georgia Ports Authority, United States
- Kaltim Prima Coal - Indonesia
- Oldendorff Carriers - Singapore
- Ambuja Cements Ltd - India
- Attock Cement Pakistan Limited
- Star Paper Mills Limited - India
- Thiess Contractors Indonesia
- Siam City Cement - Thailand
- Maharashtra Electricity Regulatory Commission - India
- Leighton Contractors Pty Ltd - Australia
- The University of Queensland
- Miang Besar Coal Terminal - Indonesia
- GVK Power & Infra Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Bangladesh Power Developement Board
- ICICI Bank Limited - India
- Manunggal Multi Energi - Indonesia
- Dalmia Cement Bharat India
- Bukit Baiduri Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Samtan Co., Ltd - South Korea
- Sakthi Sugars Limited - India
- Siam City Cement PLC, Thailand
- PetroVietnam Power Coal Import and Supply Company
- Ministry of Finance - Indonesia
- Central Java Power - Indonesia
- Independent Power Producers Association of India
- MS Steel International - UAE
- Bukit Asam (Persero) Tbk - Indonesia
- Karaikal Port Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Electricity Generating Authority of Thailand
- Directorate Of Revenue Intelligence - India
- Lanco Infratech Ltd - India
- Aditya Birla Group - India
- Parliament of New Zealand
- Krishnapatnam Port Company Ltd. - India
- Altura Mining Limited, Indonesia
- Indonesian Coal Mining Association
- Mjunction Services Limited - India
- Meenaskhi Energy Private Limited - India
- Planning Commission, India
- Semirara Mining and Power Corporation, Philippines
- Grasim Industreis Ltd - India
- Formosa Plastics Group - Taiwan
- Latin American Coal - Colombia
- Global Green Power PLC Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- LBH Netherlands Bv - Netherlands
- Uttam Galva Steels Limited - India
- Tata Chemicals Ltd - India
- Binh Thuan Hamico - Vietnam
- Banpu Public Company Limited - Thailand
- Intertek Mineral Services - Indonesia
- The State Trading Corporation of India Ltd
- Chettinad Cement Corporation Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- SN Aboitiz Power Inc, Philippines
- IEA Clean Coal Centre - UK
- South Luzon Thermal Energy Corporation
- Sindya Power Generating Company Private Ltd
- PowerSource Philippines DevCo
- Baramulti Group, Indonesia
- Carbofer General Trading SA - India
- Electricity Authority, New Zealand
- Sarangani Energy Corporation, Philippines
- Bharathi Cement Corporation - India
- Kideco Jaya Agung - Indonesia
- Economic Council, Georgia
- Directorate General of MIneral and Coal - Indonesia
- Xindia Steels Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Central Electricity Authority - India
- Mercator Lines Limited - India
- Edison Trading Spa - Italy
- Bhoruka Overseas - Indonesia
- Coalindo Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Iligan Light & Power Inc, Philippines
- Power Finance Corporation Ltd., India
- GAC Shipping (India) Pvt Ltd
- Marubeni Corporation - India
- Riau Bara Harum - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Trasteel International SA, Italy
- Kalimantan Lumbung Energi - Indonesia
- Aboitiz Power Corporation - Philippines
- Cigading International Bulk Terminal - Indonesia
- Bulk Trading Sa - Switzerland
- Eastern Coal Council - USA
- Mercuria Energy - Indonesia
- Ministry of Transport, Egypt
- Ministry of Mines - Canada
- GMR Energy Limited - India
- Coal and Oil Company - UAE
- Wilmar Investment Holdings
- Savvy Resources Ltd - HongKong
- Energy Link Ltd, New Zealand
- Madhucon Powers Ltd - India
- Global Business Power Corporation, Philippines
- Semirara Mining Corp, Philippines
- Goldman Sachs - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Price Waterhouse Coopers - Russia
- Sinarmas Energy and Mining - Indonesia
- Kartika Selabumi Mining - Indonesia
- Global Coal Blending Company Limited - Australia
- Billiton Holdings Pty Ltd - Australia
- Jindal Steel & Power Ltd - India
- Bayan Resources Tbk. - Indonesia
- Rio Tinto Coal - Australia
- Gujarat Electricity Regulatory Commission - India
- Rashtriya Ispat Nigam Limited - India
- Posco Energy - South Korea
- PTC India Limited - India
- Heidelberg Cement - Germany
- Indian Energy Exchange, India
- IHS Mccloskey Coal Group - USA
- New Zealand Coal & Carbon
- Petron Corporation, Philippines
- Agrawal Coal Company - India
- TNB Fuel Sdn Bhd - Malaysia
- Ind-Barath Power Infra Limited - India
- Sojitz Corporation - Japan
- Therma Luzon, Inc, Philippines
- TeaM Sual Corporation - Philippines
- SMC Global Power, Philippines
- AsiaOL BioFuels Corp., Philippines
- India Bulls Power Limited - India
- San Jose City I Power Corp, Philippines
- Vedanta Resources Plc - India
- Minerals Council of Australia
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