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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, 28 January 11
MPM SEEKS 40K TONS OF INDONESIAN COAL
An Indian paper producer Mysore Paper Mills Ltd., based in Bangalore is looking for 40,000 metric tons of non-coking coal of Indonesian o ...
Friday, 28 January 11
TRADING PERMIT DELAYS THREATEN EXPORTS - THE JAKARTA GLOBE
The Jakarta Globe reported that, an ongoing wrangle over licenses for mining traders could hurt investment, a coal mining association chief said on ...
Friday, 28 January 11
DRY BULK MARKET CLOSING IN TOWARDS CRISIS LEVELS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The trials and tribulations of the dry bulk market seem to have no end during the first month of 2011, as the industry’s benchmark, the Baltic ...
Wednesday, 26 January 11
ADANI TO SET-UP RAIL, PORT AND POWER PROJECTS IN INDONESIA - MONEYCONTROL
Moneycontrol reported that, Adani Enterprises, the flagship company of India’s infrastructure conglomerate the Adani Group, today announced th ...
Wednesday, 26 January 11
DRY BULK MARKET TAKES YET ANOTHER NOSEDIVE, CAPESIZES LOOK RATHER UNATTRACTIVE AT THE MOMENT - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The downturn of the dry bulk market sees no boundariers, disproving even those who thought that at least for the capesize market, the worst had pass ...
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- Gujarat Mineral Development Corp Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Madhucon Powers Ltd - India
- CIMB Investment Bank - Malaysia
- Bukit Baiduri Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Africa Commodities Group - South Africa
- Bhoruka Overseas - Indonesia
- Gujarat Sidhee Cement - India
- Global Business Power Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Karaikal Port Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Heidelberg Cement - Germany
- Tamil Nadu electricity Board
- Ind-Barath Power Infra Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- International Coal Ventures Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Formosa Plastics Group - Taiwan
- Pipit Mutiara Jaya. PT, Indonesia
- Global Green Power PLC Corporation, Philippines
- Mintek Dendrill Indonesia
- Rashtriya Ispat Nigam Limited - India
- Deloitte Consulting - India
- Bharathi Cement Corporation - India
- Toyota Tsusho Corporation, Japan
- Jaiprakash Power Ventures ltd
- Indian Oil Corporation Limited
- Dalmia Cement Bharat India
- Kideco Jaya Agung - Indonesia
- Bangladesh Power Developement Board
- Orica Australia Pty. Ltd.
- Lanco Infratech Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- VISA Power Limited - India
- GN Power Mariveles Coal Plant, Philippines
- European Bulk Services B.V. - Netherlands
- Standard Chartered Bank - UAE
- Eastern Coal Council - USA
- Offshore Bulk Terminal Pte Ltd, Singapore
- Barasentosa Lestari - Indonesia
- Indian Energy Exchange, India
- Riau Bara Harum - Indonesia
- Iligan Light & Power Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- PNOC Exploration Corporation - Philippines
- Sinarmas Energy and Mining - Indonesia
- Medco Energi Mining Internasional
- Australian Coal Association
- Karbindo Abesyapradhi - Indoneisa
- Merrill Lynch Commodities Europe
- Petron Corporation, Philippines
- Australian Commodity Traders Exchange
- ASAPP Information Group - India
- Aboitiz Power Corporation - Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Electricity Authority, New Zealand
- Wood Mackenzie - Singapore
- Uttam Galva Steels Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Baramulti Group, Indonesia
- San Jose City I Power Corp, Philippines
- Chettinad Cement Corporation Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Agrawal Coal Company - India
- GVK Power & Infra Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Price Waterhouse Coopers - Russia
- Trasteel International SA, Italy
- Malabar Cements Ltd - India
- Xindia Steels Limited - India
- Directorate Of Revenue Intelligence - India
- Kapuas Tunggal Persada - Indonesia
- SN Aboitiz Power Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- GMR Energy Limited - India
- Parliament of New Zealand
- Economic Council, Georgia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Anglo American - United Kingdom
- Port Waratah Coal Services - Australia
- Krishnapatnam Port Company Ltd. - India
- Thai Mozambique Logistica
- Singapore Mercantile Exchange
- Central Java Power - Indonesia
- Therma Luzon, Inc, Philippines
- IEA Clean Coal Centre - UK
- Indo Tambangraya Megah - Indonesia
- Coal and Oil Company - UAE
- Bank of Tokyo Mitsubishi UFJ Ltd
- Electricity Generating Authority of Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Ambuja Cements Ltd - India
- Carbofer General Trading SA - India
- Kumho Petrochemical, South Korea
- Indonesian Coal Mining Association
- Kobexindo Tractors - Indoneisa
- Interocean Group of Companies - India
- Renaissance Capital - South Africa
- Manunggal Multi Energi - Indonesia
- PTC India Limited - India
- New Zealand Coal & Carbon
- Wilmar Investment Holdings
- Sical Logistics Limited - India
- Latin American Coal - Colombia
- Sindya Power Generating Company Private Ltd
- Indogreen Group - Indonesia
- Antam Resourcindo - Indonesia
- Ministry of Mines - Canada
- Kalimantan Lumbung Energi - Indonesia
- Bayan Resources Tbk. - Indonesia
- Banpu Public Company Limited - Thailand
- Vizag Seaport Private Limited - India
- Ministry of Finance - Indonesia
- Ministry of Transport, Egypt
- Essar Steel Hazira Ltd - India
- Edison Trading Spa - Italy
- Semirara Mining and Power Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Bukit Makmur.PT - Indonesia
- Maheswari Brothers Coal Limited - India
- Bhushan Steel Limited - India
- TeaM Sual Corporation - Philippines
- Energy Development Corp, Philippines
- Kaltim Prima Coal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Central Electricity Authority - India
- Chamber of Mines of South Africa
- Leighton Contractors Pty Ltd - Australia
- Samtan Co., Ltd - South Korea
- Marubeni Corporation - India
- Alfred C Toepfer International GmbH - Germany
- Attock Cement Pakistan Limited
- Georgia Ports Authority, United States
- Energy Link Ltd, New Zealand
- Makarim & Taira - Indonesia
- Eastern Energy - Thailand
- Metalloyd Limited - United Kingdom
- Minerals Council of Australia
- Siam City Cement PLC, Thailand
- Larsen & Toubro Limited - India
- Mercuria Energy - Indonesia
- Sakthi Sugars Limited - India
- Mercator Lines Limited - India
- Binh Thuan Hamico - Vietnam
- Coalindo Energy - Indonesia
- PowerSource Philippines DevCo
- Rio Tinto Coal - Australia
- Star Paper Mills Limited - India
- Posco Energy - South Korea
- White Energy Company Limited
- LBH Netherlands Bv - Netherlands
- The State Trading Corporation of India Ltd
- Mjunction Services Limited - India
- Semirara Mining Corp, Philippines
- Sarangani Energy Corporation, Philippines
- SMC Global Power, Philippines
- CNBM International Corporation - China
- The University of Queensland
- Holcim Trading Pte Ltd - Singapore
- Sojitz Corporation - Japan
- Meenaskhi Energy Private Limited - India
- Indika Energy - Indonesia
- Cement Manufacturers Association - India
- OPG Power Generation Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Independent Power Producers Association of India
- TNB Fuel Sdn Bhd - Malaysia
- Videocon Industries ltd - India
- PetroVietnam Power Coal Import and Supply Company
- AsiaOL BioFuels Corp., Philippines
- Romanian Commodities Exchange
- Petrochimia International Co. Ltd.- Taiwan
- Meralco Power Generation, Philippines
- IHS Mccloskey Coal Group - USA
- Tata Chemicals Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Power Finance Corporation Ltd., India
- Intertek Mineral Services - Indonesia
- London Commodity Brokers - England
- Thiess Contractors Indonesia
- Orica Mining Services - Indonesia
- Siam City Cement - Thailand
- Borneo Indobara - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- ICICI Bank Limited - India
- Parry Sugars Refinery, India
- Jorong Barutama Greston.PT - Indonesia
- Simpson Spence & Young - Indonesia
- SMG Consultants - Indonesia
- Commonwealth Bank - Australia
- Bhatia International Limited - India
- Planning Commission, India
- Bulk Trading Sa - Switzerland
- Straits Asia Resources Limited - Singapore
- Oldendorff Carriers - Singapore
- Altura Mining Limited, Indonesia
- Global Coal Blending Company Limited - Australia
- Asmin Koalindo Tuhup - Indonesia
- MS Steel International - UAE
- India Bulls Power Limited - India
- Vedanta Resources Plc - India
- Coastal Gujarat Power Limited - India
- The Treasury - Australian Government
- Vijayanagar Sugar Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Goldman Sachs - Singapore
- Aditya Birla Group - India
- McConnell Dowell - Australia
- Salva Resources Pvt Ltd - India
- Grasim Industreis Ltd - India
- Savvy Resources Ltd - HongKong
- Jindal Steel & Power Ltd - India
- South Luzon Thermal Energy Corporation
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