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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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Wednesday, 19 January 11
DRY BULK MARKET HAS BOTTOMED OUT, AS WEATHER IN AUSTRALIA DIALS DOWN - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has finally halted its plunge, after a devastating week of yet more losses. The industry’s benchmark, the Baltic Dry Index ...
Tuesday, 18 January 11
MINISTRY SEEKS COAL FROM INDONESIA - SUNDAY OBSERVER
Sunday Observer reported that, Ministry of Power and Energy is to explore the possibilities of importing quality coal from Indonesia.
Minister Pa ...
Tuesday, 18 January 11
DRY BULK MARKET HAS BOTTOMED OUT, AS WEATHER IN AUSTRALIA DIALS DOWN - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has finally halted its plunge, after a devastating week of yet more losses. The industry’s benchmark, the Baltic Dry Index ...
Sunday, 16 January 11
STANCHART GLOBAL RESEARCH SEES COAL PRICE RISING ON SUPPLY DISRUPTION - BURSA MALAYSIA MARKET NEWS
Bursa Malaysia Market News reported that, Standard Chartered Global Research has upgraded its 2011 forecasts for global thermal coal prices based on ...
Saturday, 15 January 11
SUPRAMAX VESSELS FIXED AROUND $ 8K FOR TRIP VIA INDONESIA TO INDIA - VISTAAR
COALspot.com - The BDI continues to drop and has touched below 1,500 points with the cape index severely affected with the index touching 1,595 poin ...
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- Vijayanagar Sugar Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- GMR Energy Limited - India
- The State Trading Corporation of India Ltd
- Economic Council, Georgia
- Indian Oil Corporation Limited
- Altura Mining Limited, Indonesia
- ICICI Bank Limited - India
- SN Aboitiz Power Inc, Philippines
- Siam City Cement PLC, Thailand
- Larsen & Toubro Limited - India
- Kartika Selabumi Mining - Indonesia
- Ind-Barath Power Infra Limited - India
- Videocon Industries ltd - India
- Karaikal Port Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Bukit Baiduri Energy - Indonesia
- Antam Resourcindo - Indonesia
- Planning Commission, India
- Manunggal Multi Energi - Indonesia
- Meralco Power Generation, Philippines
- London Commodity Brokers - England
- Anglo American - United Kingdom
- Eastern Energy - Thailand
- Bukit Makmur.PT - Indonesia
- Commonwealth Bank - Australia
- Simpson Spence & Young - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Lanco Infratech Ltd - India
- Ministry of Finance - Indonesia
- Minerals Council of Australia
- The University of Queensland
- Ceylon Electricity Board - Sri Lanka
- Kaltim Prima Coal - Indonesia
- South Luzon Thermal Energy Corporation
- Petron Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Wood Mackenzie - Singapore
- Toyota Tsusho Corporation, Japan
- Tamil Nadu electricity Board
- Binh Thuan Hamico - Vietnam
- Oldendorff Carriers - Singapore
- Kumho Petrochemical, South Korea
- European Bulk Services B.V. - Netherlands
- Maharashtra Electricity Regulatory Commission - India
- Indian Energy Exchange, India
- Mjunction Services Limited - India
- Bhatia International Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mercuria Energy - Indonesia
- Orica Australia Pty. Ltd.
- San Jose City I Power Corp, Philippines
- Indo Tambangraya Megah - Indonesia
- Mintek Dendrill Indonesia
- Barasentosa Lestari - Indonesia
- Parry Sugars Refinery, India
- The Treasury - Australian Government
- Samtan Co., Ltd - South Korea
- Vedanta Resources Plc - India
- Meenaskhi Energy Private Limited - India
- CIMB Investment Bank - Malaysia
- White Energy Company Limited
- Sojitz Corporation - Japan
- Merrill Lynch Commodities Europe
- Kapuas Tunggal Persada - Indonesia
- Global Coal Blending Company Limited - Australia
- Grasim Industreis Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indogreen Group - Indonesia
- Mercator Lines Limited - India
- Thai Mozambique Logistica
- MS Steel International - UAE
- Alfred C Toepfer International GmbH - Germany
- SMG Consultants - Indonesia
- Jindal Steel & Power Ltd - India
- Sarangani Energy Corporation, Philippines
- Makarim & Taira - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Ministry of Mines - Canada
- Leighton Contractors Pty Ltd - Australia
- Bhushan Steel Limited - India
- Xindia Steels Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Directorate General of MIneral and Coal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- SMC Global Power, Philippines
- Riau Bara Harum - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Metalloyd Limited - United Kingdom
- Marubeni Corporation - India
- Gujarat Electricity Regulatory Commission - India
- Australian Coal Association
- Africa Commodities Group - South Africa
- Agrawal Coal Company - India
- Sical Logistics Limited - India
- Chettinad Cement Corporation Ltd - India
- Timah Investasi Mineral - Indoneisa
- Bulk Trading Sa - Switzerland
- Uttam Galva Steels Limited - India
- International Coal Ventures Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Medco Energi Mining Internasional
- Holcim Trading Pte Ltd - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Jaiprakash Power Ventures ltd
- Port Waratah Coal Services - Australia
- Madhucon Powers Ltd - India
- Latin American Coal - Colombia
- Directorate Of Revenue Intelligence - India
- Bangladesh Power Developement Board
- Thiess Contractors Indonesia
- Standard Chartered Bank - UAE
- Intertek Mineral Services - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Neyveli Lignite Corporation Ltd, - India
- India Bulls Power Limited - India
- Straits Asia Resources Limited - Singapore
- TeaM Sual Corporation - Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- VISA Power Limited - India
- Energy Link Ltd, New Zealand
- Aboitiz Power Corporation - Philippines
- Therma Luzon, Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Chamber of Mines of South Africa
- OPG Power Generation Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Orica Mining Services - Indonesia
- McConnell Dowell - Australia
- Star Paper Mills Limited - India
- AsiaOL BioFuels Corp., Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Savvy Resources Ltd - HongKong
- Power Finance Corporation Ltd., India
- IHS Mccloskey Coal Group - USA
- Bhoruka Overseas - Indonesia
- Indika Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Salva Resources Pvt Ltd - India
- Eastern Coal Council - USA
- Posco Energy - South Korea
- Global Business Power Corporation, Philippines
- Edison Trading Spa - Italy
- Independent Power Producers Association of India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ministry of Transport, Egypt
- Central Java Power - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Parliament of New Zealand
- GN Power Mariveles Coal Plant, Philippines
- Tata Chemicals Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Siam City Cement - Thailand
- Electricity Generating Authority of Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Pendopo Energi Batubara - Indonesia
- Central Electricity Authority - India
- Sinarmas Energy and Mining - Indonesia
- Heidelberg Cement - Germany
- Global Green Power PLC Corporation, Philippines
- Indonesian Coal Mining Association
- Cigading International Bulk Terminal - Indonesia
- GVK Power & Infra Limited - India
- CNBM International Corporation - China
- Renaissance Capital - South Africa
- Semirara Mining and Power Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Kepco SPC Power Corporation, Philippines
- Cement Manufacturers Association - India
- Gujarat Mineral Development Corp Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Trasteel International SA, Italy
- Coal and Oil Company - UAE
- Electricity Authority, New Zealand
- Rio Tinto Coal - Australia
- Coalindo Energy - Indonesia
- Energy Development Corp, Philippines
- Sakthi Sugars Limited - India
- PNOC Exploration Corporation - Philippines
- Kalimantan Lumbung Energi - Indonesia
- Dalmia Cement Bharat India
- Australian Commodity Traders Exchange
- ASAPP Information Group - India
- Attock Cement Pakistan Limited
- Iligan Light & Power Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Deloitte Consulting - India
- IEA Clean Coal Centre - UK
- Georgia Ports Authority, United States
- Banpu Public Company Limited - Thailand
- GAC Shipping (India) Pvt Ltd
- Borneo Indobara - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bharathi Cement Corporation - India
- Price Waterhouse Coopers - Russia
- Gujarat Sidhee Cement - India
- Kideco Jaya Agung - Indonesia
- Ambuja Cements Ltd - India
- Aditya Birla Group - India
- Singapore Mercantile Exchange
- LBH Netherlands Bv - Netherlands
- Romanian Commodities Exchange
- Malabar Cements Ltd - India
- Carbofer General Trading SA - India
- Formosa Plastics Group - Taiwan
- Goldman Sachs - Singapore
- Maheswari Brothers Coal Limited - India
- PTC India Limited - India
- Wilmar Investment Holdings
- Kobexindo Tractors - Indoneisa
- Baramulti Group, Indonesia
- New Zealand Coal & Carbon
- PowerSource Philippines DevCo
- Interocean Group of Companies - India
- Semirara Mining Corp, Philippines
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