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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, 08 November 10
INDONESIAN HBA HAS INCREASED TO $ 95.51 PER TON FOR NOVEMBER LOADING
COALspot.com: The Directorate General of Mineral, Coal and Geothermal of Indonesia has been publishing a monthly coal price reference (HBA) since Fe ...
Sunday, 07 November 10
THE SUPRAMAX INDEX IN THE FAR EAST CONTINUED TO BE UNDER PRESSURE - CAPT. REDDY
COALspot.com: The freight market continued to remain soft and all segments were down by almost about 6 pct.
The BDI and Cape Size index was down ...
Saturday, 06 November 10
DRY BULK MARKET LACKING SUPPORT TO SUSTAIN CURRENT LEVELS, BUT PANAMAX OWNERS ARE MORE FORTUNATE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Posting its fifth straight losing session, the dry bulk market benchmark, the BDI (Baltic Dry Index) was down yesterday by another 1.26% to 2510 poi ...
Friday, 05 November 10
RI COAL EXPORT PROSPECTS STILL BRIGHT - THE JAKARTA POST
The Jakarta Post reported that, Indonesia, already the world’s largest exporter of seaborne thermal coal since 2005, will continue to be a maj ...
Thursday, 04 November 10
CAPE SIZE SENTIMENT FOR THIS WEEK WAS NEGATIVE - FEARNBULK
Handy
The Atlantic markets remain flat and lackluster. High volume of tonnage availabi ...
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- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Billiton Holdings Pty Ltd - Australia
- New Zealand Coal & Carbon
- Ministry of Finance - Indonesia
- Heidelberg Cement - Germany
- GN Power Mariveles Coal Plant, Philippines
- Sakthi Sugars Limited - India
- Madhucon Powers Ltd - India
- CIMB Investment Bank - Malaysia
- Medco Energi Mining Internasional
- Posco Energy - South Korea
- Kepco SPC Power Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Karbindo Abesyapradhi - Indoneisa
- Chettinad Cement Corporation Ltd - India
- Bukit Baiduri Energy - Indonesia
- Jaiprakash Power Ventures ltd
- The Treasury - Australian Government
- Price Waterhouse Coopers - Russia
- Marubeni Corporation - India
- Orica Mining Services - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Kalimantan Lumbung Energi - Indonesia
- CNBM International Corporation - China
- Goldman Sachs - Singapore
- Maheswari Brothers Coal Limited - India
- Indika Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Intertek Mineral Services - Indonesia
- Global Business Power Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Directorate General of MIneral and Coal - Indonesia
- Aditya Birla Group - India
- Standard Chartered Bank - UAE
- Indian Oil Corporation Limited
- Ambuja Cements Ltd - India
- Bhatia International Limited - India
- Barasentosa Lestari - Indonesia
- Meenaskhi Energy Private Limited - India
- Kideco Jaya Agung - Indonesia
- Orica Australia Pty. Ltd.
- Coalindo Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Sinarmas Energy and Mining - Indonesia
- Mjunction Services Limited - India
- Tamil Nadu electricity Board
- Kapuas Tunggal Persada - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- McConnell Dowell - Australia
- Eastern Coal Council - USA
- Banpu Public Company Limited - Thailand
- Indian Energy Exchange, India
- Bayan Resources Tbk. - Indonesia
- IEA Clean Coal Centre - UK
- Central Java Power - Indonesia
- Mercator Lines Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Global Coal Blending Company Limited - Australia
- Thiess Contractors Indonesia
- Sical Logistics Limited - India
- Electricity Generating Authority of Thailand
- Bharathi Cement Corporation - India
- Simpson Spence & Young - Indonesia
- London Commodity Brokers - England
- Australian Coal Association
- Semirara Mining and Power Corporation, Philippines
- PTC India Limited - India
- Merrill Lynch Commodities Europe
- Energy Development Corp, Philippines
- OPG Power Generation Pvt Ltd - India
- Romanian Commodities Exchange
- Grasim Industreis Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Maharashtra Electricity Regulatory Commission - India
- Kobexindo Tractors - Indoneisa
- Bahari Cakrawala Sebuku - Indonesia
- The University of Queensland
- LBH Netherlands Bv - Netherlands
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Wilmar Investment Holdings
- Agrawal Coal Company - India
- Georgia Ports Authority, United States
- Edison Trading Spa - Italy
- International Coal Ventures Pvt Ltd - India
- VISA Power Limited - India
- GVK Power & Infra Limited - India
- Altura Mining Limited, Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Bulk Trading Sa - Switzerland
- Samtan Co., Ltd - South Korea
- Global Green Power PLC Corporation, Philippines
- Siam City Cement - Thailand
- Electricity Authority, New Zealand
- Mintek Dendrill Indonesia
- TeaM Sual Corporation - Philippines
- Bukit Makmur.PT - Indonesia
- Petron Corporation, Philippines
- Malabar Cements Ltd - India
- Mercuria Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Tata Chemicals Ltd - India
- Binh Thuan Hamico - Vietnam
- Videocon Industries ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Renaissance Capital - South Africa
- ICICI Bank Limited - India
- Interocean Group of Companies - India
- Power Finance Corporation Ltd., India
- Savvy Resources Ltd - HongKong
- Krishnapatnam Port Company Ltd. - India
- Miang Besar Coal Terminal - Indonesia
- South Luzon Thermal Energy Corporation
- Coastal Gujarat Power Limited - India
- Sarangani Energy Corporation, Philippines
- Central Electricity Authority - India
- Vijayanagar Sugar Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Indo Tambangraya Megah - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Salva Resources Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
- GAC Shipping (India) Pvt Ltd
- Jindal Steel & Power Ltd - India
- Antam Resourcindo - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Ministry of Mines - Canada
- Karaikal Port Pvt Ltd - India
- ASAPP Information Group - India
- Asmin Koalindo Tuhup - Indonesia
- Commonwealth Bank - Australia
- Thai Mozambique Logistica
- Meralco Power Generation, Philippines
- Energy Link Ltd, New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Siam City Cement PLC, Thailand
- Dalmia Cement Bharat India
- Essar Steel Hazira Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Anglo American - United Kingdom
- Vedanta Resources Plc - India
- Eastern Energy - Thailand
- Indogreen Group - Indonesia
- Singapore Mercantile Exchange
- India Bulls Power Limited - India
- Cigading International Bulk Terminal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Formosa Plastics Group - Taiwan
- Alfred C Toepfer International GmbH - Germany
- Gujarat Sidhee Cement - India
- Sojitz Corporation - Japan
- Chamber of Mines of South Africa
- IHS Mccloskey Coal Group - USA
- Cement Manufacturers Association - India
- Minerals Council of Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Parliament of New Zealand
- European Bulk Services B.V. - Netherlands
- Manunggal Multi Energi - Indonesia
- White Energy Company Limited
- Leighton Contractors Pty Ltd - Australia
- Baramulti Group, Indonesia
- SMC Global Power, Philippines
- Attock Cement Pakistan Limited
- Kartika Selabumi Mining - Indonesia
- Port Waratah Coal Services - Australia
- The State Trading Corporation of India Ltd
- Ministry of Transport, Egypt
- SMG Consultants - Indonesia
- Therma Luzon, Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Vizag Seaport Private Limited - India
- Bhushan Steel Limited - India
- San Jose City I Power Corp, Philippines
- Makarim & Taira - Indonesia
- Larsen & Toubro Limited - India
- GMR Energy Limited - India
- Wood Mackenzie - Singapore
- Xindia Steels Limited - India
- Rio Tinto Coal - Australia
- Star Paper Mills Limited - India
- PowerSource Philippines DevCo
- Kohat Cement Company Ltd. - Pakistan
- Lanco Infratech Ltd - India
- Iligan Light & Power Inc, Philippines
- Riau Bara Harum - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Parry Sugars Refinery, India
- Bhoruka Overseas - Indonesia
- PNOC Exploration Corporation - Philippines
- Planning Commission, India
- Economic Council, Georgia
- Deloitte Consulting - India
- Bangladesh Power Developement Board
- Independent Power Producers Association of India
- Oldendorff Carriers - Singapore
- Metalloyd Limited - United Kingdom
- Latin American Coal - Colombia
- Coal and Oil Company - UAE
- Australian Commodity Traders Exchange
- Uttam Galva Steels Limited - India
- Kaltim Prima Coal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Ceylon Electricity Board - Sri Lanka
- Trasteel International SA, Italy
- Toyota Tsusho Corporation, Japan
- Globalindo Alam Lestari - Indonesia
- Indonesian Coal Mining Association
- Carbofer General Trading SA - India
- MS Steel International - UAE
- Kumho Petrochemical, South Korea
- Pendopo Energi Batubara - Indonesia
- Borneo Indobara - Indonesia
- Directorate Of Revenue Intelligence - India
- Africa Commodities Group - South Africa
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