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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, 13 September 10
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- Georgia Ports Authority, United States
- Bukit Makmur.PT - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Thai Mozambique Logistica
- Trasteel International SA, Italy
- Rashtriya Ispat Nigam Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Metalloyd Limited - United Kingdom
- Kideco Jaya Agung - Indonesia
- Eastern Coal Council - USA
- Binh Thuan Hamico - Vietnam
- Kapuas Tunggal Persada - Indonesia
- Indika Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Cigading International Bulk Terminal - Indonesia
- Ambuja Cements Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- IEA Clean Coal Centre - UK
- Medco Energi Mining Internasional
- Cement Manufacturers Association - India
- Asmin Koalindo Tuhup - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- San Jose City I Power Corp, Philippines
- Kumho Petrochemical, South Korea
- Kepco SPC Power Corporation, Philippines
- Economic Council, Georgia
- PetroVietnam Power Coal Import and Supply Company
- PNOC Exploration Corporation - Philippines
- SN Aboitiz Power Inc, Philippines
- Iligan Light & Power Inc, Philippines
- Mintek Dendrill Indonesia
- Gujarat Mineral Development Corp Ltd - India
- IHS Mccloskey Coal Group - USA
- Indian Oil Corporation Limited
- Australian Coal Association
- Offshore Bulk Terminal Pte Ltd, Singapore
- Petron Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Wilmar Investment Holdings
- Barasentosa Lestari - Indonesia
- Mercuria Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Vijayanagar Sugar Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Bhushan Steel Limited - India
- Kobexindo Tractors - Indoneisa
- TeaM Sual Corporation - Philippines
- Altura Mining Limited, Indonesia
- Oldendorff Carriers - Singapore
- Energy Link Ltd, New Zealand
- Vedanta Resources Plc - India
- Essar Steel Hazira Ltd - India
- Bukit Baiduri Energy - Indonesia
- Port Waratah Coal Services - Australia
- Malabar Cements Ltd - India
- Siam City Cement PLC, Thailand
- Borneo Indobara - Indonesia
- The State Trading Corporation of India Ltd
- Semirara Mining Corp, Philippines
- Agrawal Coal Company - India
- Manunggal Multi Energi - Indonesia
- International Coal Ventures Pvt Ltd - India
- Sojitz Corporation - Japan
- Orica Mining Services - Indonesia
- Australian Commodity Traders Exchange
- Sarangani Energy Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Coalindo Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Formosa Plastics Group - Taiwan
- Indian Energy Exchange, India
- Riau Bara Harum - Indonesia
- Baramulti Group, Indonesia
- Wood Mackenzie - Singapore
- Larsen & Toubro Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bhatia International Limited - India
- Kartika Selabumi Mining - Indonesia
- Xindia Steels Limited - India
- PowerSource Philippines DevCo
- Karaikal Port Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Antam Resourcindo - Indonesia
- Directorate Of Revenue Intelligence - India
- Power Finance Corporation Ltd., India
- Carbofer General Trading SA - India
- CNBM International Corporation - China
- Bangladesh Power Developement Board
- CIMB Investment Bank - Malaysia
- Salva Resources Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Pendopo Energi Batubara - Indonesia
- Lanco Infratech Ltd - India
- Uttam Galva Steels Limited - India
- New Zealand Coal & Carbon
- Heidelberg Cement - Germany
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Central Java Power - Indonesia
- Sakthi Sugars Limited - India
- Aboitiz Power Corporation - Philippines
- Electricity Authority, New Zealand
- GVK Power & Infra Limited - India
- Simpson Spence & Young - Indonesia
- GAC Shipping (India) Pvt Ltd
- Jindal Steel & Power Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Timah Investasi Mineral - Indoneisa
- Global Green Power PLC Corporation, Philippines
- Romanian Commodities Exchange
- Gujarat Sidhee Cement - India
- LBH Netherlands Bv - Netherlands
- Latin American Coal - Colombia
- Eastern Energy - Thailand
- Makarim & Taira - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Sindya Power Generating Company Private Ltd
- Ministry of Finance - Indonesia
- Parry Sugars Refinery, India
- Mjunction Services Limited - India
- GMR Energy Limited - India
- SMG Consultants - Indonesia
- Independent Power Producers Association of India
- Globalindo Alam Lestari - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Chettinad Cement Corporation Ltd - India
- Kaltim Prima Coal - Indonesia
- Star Paper Mills Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Gujarat Electricity Regulatory Commission - India
- Edison Trading Spa - Italy
- South Luzon Thermal Energy Corporation
- Marubeni Corporation - India
- Therma Luzon, Inc, Philippines
- Bulk Trading Sa - Switzerland
- Kalimantan Lumbung Energi - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- ICICI Bank Limited - India
- Dalmia Cement Bharat India
- Rio Tinto Coal - Australia
- Planning Commission, India
- Semirara Mining and Power Corporation, Philippines
- Thiess Contractors Indonesia
- Commonwealth Bank - Australia
- Mercator Lines Limited - India
- Ministry of Mines - Canada
- PTC India Limited - India
- Bhoruka Overseas - Indonesia
- Standard Chartered Bank - UAE
- Videocon Industries ltd - India
- The University of Queensland
- OPG Power Generation Pvt Ltd - India
- Central Electricity Authority - India
- Grasim Industreis Ltd - India
- Renaissance Capital - South Africa
- Chamber of Mines of South Africa
- Coal and Oil Company - UAE
- Bahari Cakrawala Sebuku - Indonesia
- Anglo American - United Kingdom
- Meralco Power Generation, Philippines
- Bharathi Cement Corporation - India
- India Bulls Power Limited - India
- Africa Commodities Group - South Africa
- Coastal Gujarat Power Limited - India
- Toyota Tsusho Corporation, Japan
- VISA Power Limited - India
- Goldman Sachs - Singapore
- The Treasury - Australian Government
- Minerals Council of Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Jaiprakash Power Ventures ltd
- Energy Development Corp, Philippines
- Global Business Power Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Siam City Cement - Thailand
- MS Steel International - UAE
- Miang Besar Coal Terminal - Indonesia
- Ind-Barath Power Infra Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- London Commodity Brokers - England
- Aditya Birla Group - India
- Orica Australia Pty. Ltd.
- ASAPP Information Group - India
- Straits Asia Resources Limited - Singapore
- Merrill Lynch Commodities Europe
- Price Waterhouse Coopers - Russia
- White Energy Company Limited
- Samtan Co., Ltd - South Korea
- Banpu Public Company Limited - Thailand
- Madhucon Powers Ltd - India
- Attock Cement Pakistan Limited
- Ceylon Electricity Board - Sri Lanka
- European Bulk Services B.V. - Netherlands
- Posco Energy - South Korea
- Tata Chemicals Ltd - India
- Vizag Seaport Private Limited - India
- Holcim Trading Pte Ltd - Singapore
- Alfred C Toepfer International GmbH - Germany
- Interocean Group of Companies - India
- Karbindo Abesyapradhi - Indoneisa
- Singapore Mercantile Exchange
- Indonesian Coal Mining Association
- Electricity Generating Authority of Thailand
- Billiton Holdings Pty Ltd - Australia
- Global Coal Blending Company Limited - Australia
- Jorong Barutama Greston.PT - Indonesia
- Sree Jayajothi Cements Limited - India
- Indogreen Group - Indonesia
- SMC Global Power, Philippines
- Tamil Nadu electricity Board
- McConnell Dowell - Australia
- Deloitte Consulting - India
- Sical Logistics Limited - India
- Parliament of New Zealand
- Ministry of Transport, Egypt
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