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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, 30 September 10
DRY BULK MARKET HEADS SOUTH ONCE MORE WITH MARKET SENTIMENT TAKING A CAUTIOUS APPROACH - HELLENIC SHIPPING
The dry bulk market didn’t manage to maintain the slightly upward momentum it had established during the first two session of the week, with t ...
Wednesday, 29 September 10
MOZAMBIQUE: COAL IN THREE MORE TETE DISTRICTS
All africa reported that, Coal deposits have been confirmed in the districts of Changara, Cahora Bassa and Magoe, in the western Mozambican province ...
Tuesday, 28 September 10
MMTC TO AWARD CONTRACT TO CEPL AND KNOWLEDGE TO SUPPLY 0.835 MILLION TONS OF IMPORTED COAL
COALspot.com: MMTC, India’s state owned trading company has opened three coal purchase tenders today.
According to our market sources, Coas ...
Monday, 27 September 10
DRY BULK: FREIGHT RATES CONTINUE TO FALL ON LOW ACTIVITY - HELLENIC SHIPPING
The dry bulk market didn’t manage to change its fortunes during the past week, with holidays across many Asian countries, predominantly China, ...
Saturday, 25 September 10
INDONESIA HAS EXPORTED 187.656 MILLION TONNES OF COAL IN EIGHT MONTHS
COALspot.com: Indonesia, the world largest coal exporter has exported 187.656 million tons of coal for the period January – August this ...
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- Binh Thuan Hamico - Vietnam
- SN Aboitiz Power Inc, Philippines
- VISA Power Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Carbofer General Trading SA - India
- CIMB Investment Bank - Malaysia
- Pipit Mutiara Jaya. PT, Indonesia
- London Commodity Brokers - England
- Neyveli Lignite Corporation Ltd, - India
- Straits Asia Resources Limited - Singapore
- Parry Sugars Refinery, India
- Makarim & Taira - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Pendopo Energi Batubara - Indonesia
- GAC Shipping (India) Pvt Ltd
- White Energy Company Limited
- Central Electricity Authority - India
- Siam City Cement PLC, Thailand
- Iligan Light & Power Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Commonwealth Bank - Australia
- Bharathi Cement Corporation - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Global Business Power Corporation, Philippines
- Gujarat Sidhee Cement - India
- Antam Resourcindo - Indonesia
- Interocean Group of Companies - India
- Tata Chemicals Ltd - India
- PTC India Limited - India
- LBH Netherlands Bv - Netherlands
- Bank of Tokyo Mitsubishi UFJ Ltd
- ASAPP Information Group - India
- Savvy Resources Ltd - HongKong
- AsiaOL BioFuels Corp., Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Madhucon Powers Ltd - India
- New Zealand Coal & Carbon
- Essar Steel Hazira Ltd - India
- IEA Clean Coal Centre - UK
- Bhushan Steel Limited - India
- Therma Luzon, Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Simpson Spence & Young - Indonesia
- Marubeni Corporation - India
- Altura Mining Limited, Indonesia
- Ceylon Electricity Board - Sri Lanka
- Miang Besar Coal Terminal - Indonesia
- Trasteel International SA, Italy
- Economic Council, Georgia
- Australian Commodity Traders Exchange
- Siam City Cement - Thailand
- Standard Chartered Bank - UAE
- Riau Bara Harum - Indonesia
- SMC Global Power, Philippines
- International Coal Ventures Pvt Ltd - India
- ICICI Bank Limited - India
- Semirara Mining and Power Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Global Green Power PLC Corporation, Philippines
- GVK Power & Infra Limited - India
- Intertek Mineral Services - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Bayan Resources Tbk. - Indonesia
- Power Finance Corporation Ltd., India
- SMG Consultants - Indonesia
- Larsen & Toubro Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Maharashtra Electricity Regulatory Commission - India
- Maheswari Brothers Coal Limited - India
- Timah Investasi Mineral - Indoneisa
- European Bulk Services B.V. - Netherlands
- San Jose City I Power Corp, Philippines
- Chettinad Cement Corporation Ltd - India
- Coal and Oil Company - UAE
- Kumho Petrochemical, South Korea
- Africa Commodities Group - South Africa
- Deloitte Consulting - India
- Independent Power Producers Association of India
- TeaM Sual Corporation - Philippines
- Bhatia International Limited - India
- Oldendorff Carriers - Singapore
- India Bulls Power Limited - India
- Mintek Dendrill Indonesia
- Electricity Generating Authority of Thailand
- Ministry of Finance - Indonesia
- Orica Australia Pty. Ltd.
- Goldman Sachs - Singapore
- Wood Mackenzie - Singapore
- MS Steel International - UAE
- Thai Mozambique Logistica
- Coastal Gujarat Power Limited - India
- Cigading International Bulk Terminal - Indonesia
- Parliament of New Zealand
- Malabar Cements Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Georgia Ports Authority, United States
- Holcim Trading Pte Ltd - Singapore
- Kaltim Prima Coal - Indonesia
- PNOC Exploration Corporation - Philippines
- Bukit Makmur.PT - Indonesia
- Sakthi Sugars Limited - India
- Metalloyd Limited - United Kingdom
- Jindal Steel & Power Ltd - India
- Bhoruka Overseas - Indonesia
- The University of Queensland
- Kideco Jaya Agung - Indonesia
- Indogreen Group - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Dalmia Cement Bharat India
- Ministry of Mines - Canada
- Heidelberg Cement - Germany
- Directorate Of Revenue Intelligence - India
- Bukit Baiduri Energy - Indonesia
- Posco Energy - South Korea
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kepco SPC Power Corporation, Philippines
- Medco Energi Mining Internasional
- The Treasury - Australian Government
- Jaiprakash Power Ventures ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Chamber of Mines of South Africa
- Samtan Co., Ltd - South Korea
- Electricity Authority, New Zealand
- South Luzon Thermal Energy Corporation
- Orica Mining Services - Indonesia
- Port Waratah Coal Services - Australia
- Eastern Energy - Thailand
- Minerals Council of Australia
- Price Waterhouse Coopers - Russia
- Salva Resources Pvt Ltd - India
- Grasim Industreis Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Meenaskhi Energy Private Limited - India
- Sical Logistics Limited - India
- Coalindo Energy - Indonesia
- Borneo Indobara - Indonesia
- Kartika Selabumi Mining - Indonesia
- Sindya Power Generating Company Private Ltd
- Rio Tinto Coal - Australia
- Gujarat Electricity Regulatory Commission - India
- Wilmar Investment Holdings
- CNBM International Corporation - China
- Vedanta Resources Plc - India
- PowerSource Philippines DevCo
- Global Coal Blending Company Limited - Australia
- Planning Commission, India
- Central Java Power - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Indonesian Coal Mining Association
- Barasentosa Lestari - Indonesia
- Indika Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Petrochimia International Co. Ltd.- Taiwan
- Banpu Public Company Limited - Thailand
- Toyota Tsusho Corporation, Japan
- Energy Link Ltd, New Zealand
- Vizag Seaport Private Limited - India
- Sarangani Energy Corporation, Philippines
- Cement Manufacturers Association - India
- Semirara Mining Corp, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Star Paper Mills Limited - India
- Tamil Nadu electricity Board
- Australian Coal Association
- Globalindo Alam Lestari - Indonesia
- Lanco Infratech Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- McConnell Dowell - Australia
- Merrill Lynch Commodities Europe
- Petron Corporation, Philippines
- Videocon Industries ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- GN Power Mariveles Coal Plant, Philippines
- Uttam Galva Steels Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Ambuja Cements Ltd - India
- Bangladesh Power Developement Board
- Romanian Commodities Exchange
- GMR Energy Limited - India
- Sojitz Corporation - Japan
- Anglo American - United Kingdom
- Krishnapatnam Port Company Ltd. - India
- Kapuas Tunggal Persada - Indonesia
- Ministry of Transport, Egypt
- Edison Trading Spa - Italy
- Thiess Contractors Indonesia
- Ind-Barath Power Infra Limited - India
- Xindia Steels Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Sree Jayajothi Cements Limited - India
- Mercator Lines Limited - India
- Mercuria Energy - Indonesia
- Indian Oil Corporation Limited
- Renaissance Capital - South Africa
- Singapore Mercantile Exchange
- Leighton Contractors Pty Ltd - Australia
- Aditya Birla Group - India
- Bulk Trading Sa - Switzerland
- Manunggal Multi Energi - Indonesia
- Indo Tambangraya Megah - Indonesia
- Mjunction Services Limited - India
- Aboitiz Power Corporation - Philippines
- Agrawal Coal Company - India
- Karaikal Port Pvt Ltd - India
- Meralco Power Generation, Philippines
- Attock Cement Pakistan Limited
- Energy Development Corp, Philippines
- The State Trading Corporation of India Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- IHS Mccloskey Coal Group - USA
- Baramulti Group, Indonesia
- Formosa Plastics Group - Taiwan
- Eastern Coal Council - USA
- Latin American Coal - Colombia
- TNB Fuel Sdn Bhd - Malaysia
- Indian Energy Exchange, India
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