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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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Monday, 07 February 11
RBCT SHIPPED 28.67 PERCENT LESS COAL IN JANUARY
COALspot.com - Richards Bay Coal Terminal (RBCT) is the single largest export coal terminal in the world, shipped 4,389,925 MT of coal in January 20 ...
Sunday, 06 February 11
THE PANAMAX & SUPRAMAX FUTURES FOR 2011-2013 WAS AT AROUND US$ 16,500 & US$ 15,000 PER DAY RESPECTIVELY
COALspot.com - With the Chinese new year holidays this week, the market has been fairly quite as expected.
The BDI saw a bigger drop compared to ...
Saturday, 05 February 11
INDONESIAN ENERGY MINISTER HAS SIGNED A DECREE FOR COAL TRANSPORTATION PERMITS ON FRIDAY
COALspot.com - Minister of Energy, Darwin Minister Saleh said, that, he had signed a decree for transportation and sale of coal, which was the ...
Saturday, 05 February 11
ANCHORAGE LOADING POINT MOVED TO MUARA JAWA
COALspot.com - The Ministry of Transportation Republic Indonesia has announced that, the loading point at Muara Berau, East kalimantan h ...
Friday, 04 February 11
PERTAMINA DENIES KAREN AGUSTIAWAN RESIGNS FROM PERTAMINA
COALspot.com - The President Director of PT Pertamina, Karen Agustiawan reportedly will replace Darwin Saleh as Minister of Energy and Mineral Resou ...
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- Lanco Infratech Ltd - India
- Bharathi Cement Corporation - India
- Medco Energi Mining Internasional
- Orica Mining Services - Indonesia
- LBH Netherlands Bv - Netherlands
- Therma Luzon, Inc, Philippines
- European Bulk Services B.V. - Netherlands
- Pendopo Energi Batubara - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Goldman Sachs - Singapore
- White Energy Company Limited
- The Treasury - Australian Government
- Wilmar Investment Holdings
- Central Electricity Authority - India
- Economic Council, Georgia
- Formosa Plastics Group - Taiwan
- Trasteel International SA, Italy
- Kalimantan Lumbung Energi - Indonesia
- Aboitiz Power Corporation - Philippines
- Global Green Power PLC Corporation, Philippines
- Vedanta Resources Plc - India
- Indo Tambangraya Megah - Indonesia
- Singapore Mercantile Exchange
- Timah Investasi Mineral - Indoneisa
- Sakthi Sugars Limited - India
- GVK Power & Infra Limited - India
- GAC Shipping (India) Pvt Ltd
- Karbindo Abesyapradhi - Indoneisa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- MS Steel International - UAE
- The State Trading Corporation of India Ltd
- SMC Global Power, Philippines
- Parliament of New Zealand
- Altura Mining Limited, Indonesia
- Heidelberg Cement - Germany
- Indonesian Coal Mining Association
- Ministry of Finance - Indonesia
- Manunggal Multi Energi - Indonesia
- London Commodity Brokers - England
- Larsen & Toubro Limited - India
- Deloitte Consulting - India
- SMG Consultants - Indonesia
- Minerals Council of Australia
- Orica Australia Pty. Ltd.
- Standard Chartered Bank - UAE
- Simpson Spence & Young - Indonesia
- Eastern Energy - Thailand
- GMR Energy Limited - India
- Kartika Selabumi Mining - Indonesia
- Xindia Steels Limited - India
- PTC India Limited - India
- Dalmia Cement Bharat India
- New Zealand Coal & Carbon
- Petron Corporation, Philippines
- Meralco Power Generation, Philippines
- Metalloyd Limited - United Kingdom
- Vijayanagar Sugar Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Vizag Seaport Private Limited - India
- McConnell Dowell - Australia
- Interocean Group of Companies - India
- Renaissance Capital - South Africa
- Straits Asia Resources Limited - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Kumho Petrochemical, South Korea
- Borneo Indobara - Indonesia
- Globalindo Alam Lestari - Indonesia
- PowerSource Philippines DevCo
- Ind-Barath Power Infra Limited - India
- Jaiprakash Power Ventures ltd
- ICICI Bank Limited - India
- Sojitz Corporation - Japan
- VISA Power Limited - India
- Salva Resources Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Kaltim Prima Coal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Intertek Mineral Services - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Oldendorff Carriers - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Africa Commodities Group - South Africa
- Mercuria Energy - Indonesia
- Parry Sugars Refinery, India
- Essar Steel Hazira Ltd - India
- Energy Link Ltd, New Zealand
- Savvy Resources Ltd - HongKong
- South Luzon Thermal Energy Corporation
- Sree Jayajothi Cements Limited - India
- Ambuja Cements Ltd - India
- Anglo American - United Kingdom
- Leighton Contractors Pty Ltd - Australia
- Indika Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Australian Commodity Traders Exchange
- Sarangani Energy Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Madhucon Powers Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Neyveli Lignite Corporation Ltd, - India
- Mjunction Services Limited - India
- CIMB Investment Bank - Malaysia
- Mercator Lines Limited - India
- OPG Power Generation Pvt Ltd - India
- Eastern Coal Council - USA
- Carbofer General Trading SA - India
- Port Waratah Coal Services - Australia
- Independent Power Producers Association of India
- Videocon Industries ltd - India
- Indian Oil Corporation Limited
- Agrawal Coal Company - India
- The University of Queensland
- Makarim & Taira - Indonesia
- SN Aboitiz Power Inc, Philippines
- Siam City Cement - Thailand
- Price Waterhouse Coopers - Russia
- PetroVietnam Power Coal Import and Supply Company
- Krishnapatnam Port Company Ltd. - India
- Bhoruka Overseas - Indonesia
- Merrill Lynch Commodities Europe
- Gujarat Mineral Development Corp Ltd - India
- Coal and Oil Company - UAE
- Romanian Commodities Exchange
- Chettinad Cement Corporation Ltd - India
- Indogreen Group - Indonesia
- Banpu Public Company Limited - Thailand
- Global Coal Blending Company Limited - Australia
- Gujarat Electricity Regulatory Commission - India
- Malabar Cements Ltd - India
- TeaM Sual Corporation - Philippines
- Directorate Of Revenue Intelligence - India
- ASAPP Information Group - India
- Baramulti Group, Indonesia
- Australian Coal Association
- Chamber of Mines of South Africa
- Georgia Ports Authority, United States
- Iligan Light & Power Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- IHS Mccloskey Coal Group - USA
- Power Finance Corporation Ltd., India
- Bulk Trading Sa - Switzerland
- Electricity Authority, New Zealand
- Jindal Steel & Power Ltd - India
- Central Java Power - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Wood Mackenzie - Singapore
- Ceylon Electricity Board - Sri Lanka
- Edison Trading Spa - Italy
- Electricity Generating Authority of Thailand
- Rio Tinto Coal - Australia
- Semirara Mining and Power Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Maheswari Brothers Coal Limited - India
- Toyota Tsusho Corporation, Japan
- International Coal Ventures Pvt Ltd - India
- Bhatia International Limited - India
- Gujarat Sidhee Cement - India
- Kapuas Tunggal Persada - Indonesia
- IEA Clean Coal Centre - UK
- Bhushan Steel Limited - India
- Riau Bara Harum - Indonesia
- Kideco Jaya Agung - Indonesia
- CNBM International Corporation - China
- Grasim Industreis Ltd - India
- Energy Development Corp, Philippines
- Planning Commission, India
- TNB Fuel Sdn Bhd - Malaysia
- Ministry of Transport, Egypt
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Tata Chemicals Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Aditya Birla Group - India
- AsiaOL BioFuels Corp., Philippines
- Barasentosa Lestari - Indonesia
- Ministry of Mines - Canada
- Bukit Makmur.PT - Indonesia
- Bangladesh Power Developement Board
- Binh Thuan Hamico - Vietnam
- Semirara Mining Corp, Philippines
- Sindya Power Generating Company Private Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Billiton Holdings Pty Ltd - Australia
- Kobexindo Tractors - Indoneisa
- San Jose City I Power Corp, Philippines
- India Bulls Power Limited - India
- Antam Resourcindo - Indonesia
- Global Business Power Corporation, Philippines
- Latin American Coal - Colombia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Thiess Contractors Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Baiduri Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Samtan Co., Ltd - South Korea
- Coalindo Energy - Indonesia
- Indian Energy Exchange, India
- Siam City Cement PLC, Thailand
- Cement Manufacturers Association - India
- Petrochimia International Co. Ltd.- Taiwan
- Holcim Trading Pte Ltd - Singapore
- Uttam Galva Steels Limited - India
- Kepco SPC Power Corporation, Philippines
- Attock Cement Pakistan Limited
- Thai Mozambique Logistica
- Mintek Dendrill Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Sical Logistics Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Commonwealth Bank - Australia
- Tamil Nadu electricity Board
- Posco Energy - South Korea
- Star Paper Mills Limited - India
- PNOC Exploration Corporation - Philippines
- Marubeni Corporation - India
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