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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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Thursday, 14 October 10
COAL PRICES AT QINHUANGDAO PORT UP - CAPITALVUE
Capitalvue reported that, prices of steam coal yielding 5,500 kilocalories per kilogram (kcal/kg) in Qinhuangdao Port have risen five yuan to 715-72 ...
Thursday, 14 October 10
DRY BULK MARKET MAINTAINS POSITIVE TREND ON FIRMER CHINESE IRON ORE DEMAND
The dry bulk market has kept its upward trend set since last week, with the industry’s main benchmark, the Baltic Dry Index (BDI) rising to 2, ...
Tuesday, 12 October 10
DRY BULK MARKET LOOKING FOR DIRECTION AFTER WEEK OF CAPESIZE GROWTH
The dry bulk market ended Monday unchanged from Friday’s closing, today standing at 2,695 points. In summary, the capesize and the supramax se ...
Tuesday, 12 October 10
COAL SPOT TRADING MAY SOOTH PRICING CONFLICTS - GLOBAL TIMES
Global Times reported that, Tianjin-based Bohai Commodity Exchange launched steam coal for spot trading for the first time Monday. Steam coal is mai ...
Monday, 11 October 10
INDONESIAN POWER PLANTS AND OTHER INDUSTRIES TO BURN 78.97 MLN TONS OF COAL IN 2011
COALspot.com: The Minister of Energy and Mineral Resources of Indonesia has issued a ministerial degree 2360 K/30/MEM/ 2010 related to Domestic mark ...
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- Krishnapatnam Port Company Ltd. - India
- Carbofer General Trading SA - India
- European Bulk Services B.V. - Netherlands
- Kalimantan Lumbung Energi - Indonesia
- Iligan Light & Power Inc, Philippines
- Petron Corporation, Philippines
- IEA Clean Coal Centre - UK
- Intertek Mineral Services - Indonesia
- Power Finance Corporation Ltd., India
- Parry Sugars Refinery, India
- Central Java Power - Indonesia
- SN Aboitiz Power Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Simpson Spence & Young - Indonesia
- Aditya Birla Group - India
- Indian Energy Exchange, India
- Sree Jayajothi Cements Limited - India
- Kobexindo Tractors - Indoneisa
- Thiess Contractors Indonesia
- SMC Global Power, Philippines
- White Energy Company Limited
- Karaikal Port Pvt Ltd - India
- Dalmia Cement Bharat India
- VISA Power Limited - India
- Orica Australia Pty. Ltd.
- Baramulti Group, Indonesia
- Eastern Energy - Thailand
- Bukit Makmur.PT - Indonesia
- Banpu Public Company Limited - Thailand
- Kumho Petrochemical, South Korea
- Rio Tinto Coal - Australia
- Attock Cement Pakistan Limited
- Port Waratah Coal Services - Australia
- Cigading International Bulk Terminal - Indonesia
- Kartika Selabumi Mining - Indonesia
- Coastal Gujarat Power Limited - India
- Posco Energy - South Korea
- Toyota Tsusho Corporation, Japan
- Indonesian Coal Mining Association
- Videocon Industries ltd - India
- Bhatia International Limited - India
- Sarangani Energy Corporation, Philippines
- Energy Link Ltd, New Zealand
- GVK Power & Infra Limited - India
- Mercator Lines Limited - India
- Orica Mining Services - Indonesia
- Larsen & Toubro Limited - India
- Borneo Indobara - Indonesia
- Star Paper Mills Limited - India
- Oldendorff Carriers - Singapore
- Ministry of Transport, Egypt
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Binh Thuan Hamico - Vietnam
- Jindal Steel & Power Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Karbindo Abesyapradhi - Indoneisa
- Kaltim Prima Coal - Indonesia
- Sindya Power Generating Company Private Ltd
- Metalloyd Limited - United Kingdom
- Bangladesh Power Developement Board
- Planning Commission, India
- Therma Luzon, Inc, Philippines
- Electricity Authority, New Zealand
- Bhushan Steel Limited - India
- PTC India Limited - India
- Anglo American - United Kingdom
- Electricity Generating Authority of Thailand
- Billiton Holdings Pty Ltd - Australia
- Neyveli Lignite Corporation Ltd, - India
- PowerSource Philippines DevCo
- Interocean Group of Companies - India
- Coal and Oil Company - UAE
- Antam Resourcindo - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Bulk Trading Sa - Switzerland
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Formosa Plastics Group - Taiwan
- Latin American Coal - Colombia
- Australian Coal Association
- SMG Consultants - Indonesia
- Chettinad Cement Corporation Ltd - India
- Indika Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Pendopo Energi Batubara - Indonesia
- Kepco SPC Power Corporation, Philippines
- Australian Commodity Traders Exchange
- Kapuas Tunggal Persada - Indonesia
- Madhucon Powers Ltd - India
- Barasentosa Lestari - Indonesia
- Indogreen Group - Indonesia
- Minerals Council of Australia
- Georgia Ports Authority, United States
- MS Steel International - UAE
- Kideco Jaya Agung - Indonesia
- IHS Mccloskey Coal Group - USA
- Petrochimia International Co. Ltd.- Taiwan
- Indian Oil Corporation Limited
- Economic Council, Georgia
- Commonwealth Bank - Australia
- Alfred C Toepfer International GmbH - Germany
- Bahari Cakrawala Sebuku - Indonesia
- South Luzon Thermal Energy Corporation
- The Treasury - Australian Government
- Mjunction Services Limited - India
- Sinarmas Energy and Mining - Indonesia
- Standard Chartered Bank - UAE
- Mintek Dendrill Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Manunggal Multi Energi - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GMR Energy Limited - India
- Chamber of Mines of South Africa
- Jorong Barutama Greston.PT - Indonesia
- Cement Manufacturers Association - India
- Renaissance Capital - South Africa
- Miang Besar Coal Terminal - Indonesia
- Malabar Cements Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- Heidelberg Cement - Germany
- Meenaskhi Energy Private Limited - India
- Directorate General of MIneral and Coal - Indonesia
- The State Trading Corporation of India Ltd
- Savvy Resources Ltd - HongKong
- Edison Trading Spa - Italy
- International Coal Ventures Pvt Ltd - India
- McConnell Dowell - Australia
- Global Green Power PLC Corporation, Philippines
- Central Electricity Authority - India
- Bukit Baiduri Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- Jaiprakash Power Ventures ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Indo Tambangraya Megah - Indonesia
- Wilmar Investment Holdings
- Vedanta Resources Plc - India
- Salva Resources Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Gujarat Electricity Regulatory Commission - India
- Eastern Coal Council - USA
- Leighton Contractors Pty Ltd - Australia
- ASAPP Information Group - India
- Goldman Sachs - Singapore
- Deloitte Consulting - India
- Ceylon Electricity Board - Sri Lanka
- Ministry of Mines - Canada
- CNBM International Corporation - China
- Sojitz Corporation - Japan
- Timah Investasi Mineral - Indoneisa
- ICICI Bank Limited - India
- Medco Energi Mining Internasional
- Directorate Of Revenue Intelligence - India
- New Zealand Coal & Carbon
- Semirara Mining Corp, Philippines
- Wood Mackenzie - Singapore
- Tata Chemicals Ltd - India
- Meralco Power Generation, Philippines
- The University of Queensland
- Thai Mozambique Logistica
- Parliament of New Zealand
- Agrawal Coal Company - India
- Marubeni Corporation - India
- Sakthi Sugars Limited - India
- Gujarat Mineral Development Corp Ltd - India
- London Commodity Brokers - England
- Vijayanagar Sugar Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Lanco Infratech Ltd - India
- Altura Mining Limited, Indonesia
- CIMB Investment Bank - Malaysia
- Coalindo Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Straits Asia Resources Limited - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Romanian Commodities Exchange
- India Bulls Power Limited - India
- Ambuja Cements Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Ind-Barath Power Infra Limited - India
- Tamil Nadu electricity Board
- Makarim & Taira - Indonesia
- GAC Shipping (India) Pvt Ltd
- Holcim Trading Pte Ltd - Singapore
- San Jose City I Power Corp, Philippines
- Samtan Co., Ltd - South Korea
- Trasteel International SA, Italy
- Mercuria Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ministry of Finance - Indonesia
- Maheswari Brothers Coal Limited - India
- Aboitiz Power Corporation - Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Bharathi Cement Corporation - India
- Siam City Cement PLC, Thailand
- LBH Netherlands Bv - Netherlands
- Globalindo Alam Lestari - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Vizag Seaport Private Limited - India
- Global Coal Blending Company Limited - Australia
- Essar Steel Hazira Ltd - India
- TeaM Sual Corporation - Philippines
- Siam City Cement - Thailand
- Global Business Power Corporation, Philippines
- Energy Development Corp, Philippines
- Gujarat Sidhee Cement - India
- PetroVietnam Power Coal Import and Supply Company
- Xindia Steels Limited - India
- Singapore Mercantile Exchange
- Price Waterhouse Coopers - Russia
- Sical Logistics Limited - India
- PNOC Exploration Corporation - Philippines
- Grasim Industreis Ltd - India
- Independent Power Producers Association of India
- Africa Commodities Group - South Africa
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