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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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Tuesday, 14 September 10
MID HIGH TEENS FROM WCI, AND HIGH TEENS FROM ECI TO CHINA - BRS
A fairly flat market for the dry bulk segments this week, although the Panamaxes jumped on the back of strong grain exports in the Atlantic. It ...
Tuesday, 14 September 10
HIGH CHARTERING ACTIVITY NEEDS TO KEEP UP FOR DRY BULK RATES TO REMAIN HIGH
Last week’s increase of spot chartering activity pushed dry bulk freight rates to new highs, after a less than lackluster summer. As a result, ...
Monday, 13 September 10
GLENCORE BUYS STAKE IN MINER BUMI
The Jakarta globe reported that, Switzerland-based Glencore International, the world’s largest commodities trader, has quietly acquired a $200 ...
Monday, 13 September 10
IT'S JAI INDONESIA FOR OUR POWER FIRMS
Indian power producers have been compelled to look abroad for fuel to run upcoming facilities, as domestic generation is unlikely to be able to meet ...
Monday, 13 September 10
CIL IN TALKS WITH SHIPPING CORP TO FORM JV FOR COAL IMPORTS
Shipping Corporation of India, the largest domestic shipping liner, may form a joint venture with Coal India for coal imports, a top company officia ...
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- Kartika Selabumi Mining - Indonesia
- Kideco Jaya Agung - Indonesia
- Australian Coal Association
- Asmin Koalindo Tuhup - Indonesia
- Bulk Trading Sa - Switzerland
- ICICI Bank Limited - India
- Xindia Steels Limited - India
- Minerals Council of Australia
- VISA Power Limited - India
- Merrill Lynch Commodities Europe
- International Coal Ventures Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Semirara Mining and Power Corporation, Philippines
- Aditya Birla Group - India
- Cigading International Bulk Terminal - Indonesia
- Sindya Power Generating Company Private Ltd
- Maheswari Brothers Coal Limited - India
- Renaissance Capital - South Africa
- Lanco Infratech Ltd - India
- Attock Cement Pakistan Limited
- CIMB Investment Bank - Malaysia
- Vedanta Resources Plc - India
- Neyveli Lignite Corporation Ltd, - India
- Billiton Holdings Pty Ltd - Australia
- Bukit Makmur.PT - Indonesia
- Gujarat Sidhee Cement - India
- Port Waratah Coal Services - Australia
- The University of Queensland
- Wood Mackenzie - Singapore
- Gujarat Electricity Regulatory Commission - India
- Orica Australia Pty. Ltd.
- Global Business Power Corporation, Philippines
- Carbofer General Trading SA - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ministry of Mines - Canada
- GMR Energy Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Vijayanagar Sugar Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Karaikal Port Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- The State Trading Corporation of India Ltd
- Bhatia International Limited - India
- Bhushan Steel Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Trasteel International SA, Italy
- Anglo American - United Kingdom
- Thiess Contractors Indonesia
- White Energy Company Limited
- Therma Luzon, Inc, Philippines
- PowerSource Philippines DevCo
- Directorate General of MIneral and Coal - Indonesia
- The Treasury - Australian Government
- Eastern Energy - Thailand
- Indonesian Coal Mining Association
- Alfred C Toepfer International GmbH - Germany
- Kumho Petrochemical, South Korea
- Coastal Gujarat Power Limited - India
- Videocon Industries ltd - India
- MS Steel International - UAE
- Jaiprakash Power Ventures ltd
- Toyota Tsusho Corporation, Japan
- India Bulls Power Limited - India
- Intertek Mineral Services - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Agrawal Coal Company - India
- Indian Energy Exchange, India
- Kaltim Prima Coal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Essar Steel Hazira Ltd - India
- GAC Shipping (India) Pvt Ltd
- Australian Commodity Traders Exchange
- Bhoruka Overseas - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Bahari Cakrawala Sebuku - Indonesia
- Orica Mining Services - Indonesia
- Tata Chemicals Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Grasim Industreis Ltd - India
- Madhucon Powers Ltd - India
- Kobexindo Tractors - Indoneisa
- Vizag Seaport Private Limited - India
- Electricity Generating Authority of Thailand
- Sree Jayajothi Cements Limited - India
- Chamber of Mines of South Africa
- OPG Power Generation Pvt Ltd - India
- Singapore Mercantile Exchange
- Georgia Ports Authority, United States
- SMG Consultants - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sojitz Corporation - Japan
- Bayan Resources Tbk. - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Mercator Lines Limited - India
- Bangladesh Power Developement Board
- Iligan Light & Power Inc, Philippines
- Ministry of Finance - Indonesia
- Goldman Sachs - Singapore
- GVK Power & Infra Limited - India
- Semirara Mining Corp, Philippines
- Kepco SPC Power Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- AsiaOL BioFuels Corp., Philippines
- Electricity Authority, New Zealand
- Thai Mozambique Logistica
- Borneo Indobara - Indonesia
- Meenaskhi Energy Private Limited - India
- Eastern Coal Council - USA
- Petron Corporation, Philippines
- Planning Commission, India
- Barasentosa Lestari - Indonesia
- Indian Oil Corporation Limited
- TeaM Sual Corporation - Philippines
- SN Aboitiz Power Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- Coalindo Energy - Indonesia
- Independent Power Producers Association of India
- IEA Clean Coal Centre - UK
- PNOC Exploration Corporation - Philippines
- Miang Besar Coal Terminal - Indonesia
- London Commodity Brokers - England
- Economic Council, Georgia
- Marubeni Corporation - India
- Rio Tinto Coal - Australia
- Kapuas Tunggal Persada - Indonesia
- Parry Sugars Refinery, India
- Central Electricity Authority - India
- PTC India Limited - India
- Interocean Group of Companies - India
- Antam Resourcindo - Indonesia
- LBH Netherlands Bv - Netherlands
- Tamil Nadu electricity Board
- Pipit Mutiara Jaya. PT, Indonesia
- Bukit Baiduri Energy - Indonesia
- ASAPP Information Group - India
- Samtan Co., Ltd - South Korea
- Sical Logistics Limited - India
- Aboitiz Power Corporation - Philippines
- Parliament of New Zealand
- GN Power Mariveles Coal Plant, Philippines
- Heidelberg Cement - Germany
- Ind-Barath Power Infra Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Jindal Steel & Power Ltd - India
- Banpu Public Company Limited - Thailand
- Latin American Coal - Colombia
- IHS Mccloskey Coal Group - USA
- Indo Tambangraya Megah - Indonesia
- Uttam Galva Steels Limited - India
- Siam City Cement PLC, Thailand
- Ambuja Cements Ltd - India
- Chettinad Cement Corporation Ltd - India
- Edison Trading Spa - Italy
- Romanian Commodities Exchange
- Global Coal Blending Company Limited - Australia
- Indogreen Group - Indonesia
- Malabar Cements Ltd - India
- Cement Manufacturers Association - India
- Jorong Barutama Greston.PT - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Pendopo Energi Batubara - Indonesia
- Directorate Of Revenue Intelligence - India
- Mjunction Services Limited - India
- Medco Energi Mining Internasional
- Coal and Oil Company - UAE
- Larsen & Toubro Limited - India
- SMC Global Power, Philippines
- Price Waterhouse Coopers - Russia
- Makarim & Taira - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Bharathi Cement Corporation - India
- European Bulk Services B.V. - Netherlands
- Bank of Tokyo Mitsubishi UFJ Ltd
- Siam City Cement - Thailand
- Ministry of Transport, Egypt
- Holcim Trading Pte Ltd - Singapore
- Global Green Power PLC Corporation, Philippines
- Indika Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Manunggal Multi Energi - Indonesia
- Standard Chartered Bank - UAE
- Deloitte Consulting - India
- Kohat Cement Company Ltd. - Pakistan
- Maharashtra Electricity Regulatory Commission - India
- Salva Resources Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Mercuria Energy - Indonesia
- Wilmar Investment Holdings
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Globalindo Alam Lestari - Indonesia
- Meralco Power Generation, Philippines
- Energy Link Ltd, New Zealand
- Simpson Spence & Young - Indonesia
- Africa Commodities Group - South Africa
- Karbindo Abesyapradhi - Indoneisa
- CNBM International Corporation - China
- Power Finance Corporation Ltd., India
- Sakthi Sugars Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Star Paper Mills Limited - India
- Energy Development Corp, Philippines
- Binh Thuan Hamico - Vietnam
- Dalmia Cement Bharat India
- Mintek Dendrill Indonesia
- Central Java Power - Indonesia
- Riau Bara Harum - Indonesia
- Commonwealth Bank - Australia
- McConnell Dowell - Australia
- Sarangani Energy Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Baramulti Group, Indonesia
- Oldendorff Carriers - Singapore
- Altura Mining Limited, Indonesia
- San Jose City I Power Corp, Philippines
- New Zealand Coal & Carbon
- Posco Energy - South Korea
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