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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, 09 September 10
DRY BULK MARKET IS LOOKING TO INCREASE GAINS ON OCTOBER IRON ORE CONTRACTS
The “success” story that the dry bulk market has been displaying during the past couple of weeks is being materialized as we head toward ...
Tuesday, 07 September 10
INDIA IMPORTS 1.63 MLN T OF COAL FOR THE PERIOD 30 AUGUST - 5 SEPTEMBER - SOURCES
COALspot.com: India has imported 1.07 million tons of power plant coal, 0.520 mln tons of coking coal and around 41,000 mt of Anthracite coal for th ...
Tuesday, 07 September 10
GOVERNMENT DECLARED INDONESIAN COAL PRICE REFERENCE DECLINE FOR THIRD-STRAIGHT MONTH
COALspot.com: Indonesian thermal coal price reference, a monthly benchmark price declared by Ministry of Energy and mineral resources of Repub ...
Tuesday, 07 September 10
MERCATOR TO BUY COAL MINE IN INDONESIA THIS FISCAL
Mercator Lines, India’s second-largest shipping company which has diversified into coal mining, will buy a coal mine in Indonesia with more th ...
Monday, 06 September 10
DRY BULK MARKET GAINS 6.05% ON WEEK, BOOSTED BY CAPESIZE VESSELS
The dry bulk market is looking to capitalize last week’s gains of more than 6 percent in this week, as the capesize segment seems to be on a h ...
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- Electricity Generating Authority of Thailand
- International Coal Ventures Pvt Ltd - India
- Agrawal Coal Company - India
- Mintek Dendrill Indonesia
- Attock Cement Pakistan Limited
- ICICI Bank Limited - India
- Siam City Cement PLC, Thailand
- McConnell Dowell - Australia
- Baramulti Group, Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mercator Lines Limited - India
- PTC India Limited - India
- Sinarmas Energy and Mining - Indonesia
- Price Waterhouse Coopers - Russia
- PetroVietnam Power Coal Import and Supply Company
- South Luzon Thermal Energy Corporation
- Salva Resources Pvt Ltd - India
- Indika Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Simpson Spence & Young - Indonesia
- GVK Power & Infra Limited - India
- Merrill Lynch Commodities Europe
- Posco Energy - South Korea
- Samtan Co., Ltd - South Korea
- Central Electricity Authority - India
- Orica Australia Pty. Ltd.
- Heidelberg Cement - Germany
- Bhatia International Limited - India
- New Zealand Coal & Carbon
- Wood Mackenzie - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Kumho Petrochemical, South Korea
- Ministry of Mines - Canada
- The Treasury - Australian Government
- Straits Asia Resources Limited - Singapore
- PowerSource Philippines DevCo
- CIMB Investment Bank - Malaysia
- Deloitte Consulting - India
- Kepco SPC Power Corporation, Philippines
- Indian Energy Exchange, India
- Renaissance Capital - South Africa
- London Commodity Brokers - England
- Gujarat Electricity Regulatory Commission - India
- Vizag Seaport Private Limited - India
- Meenaskhi Energy Private Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Larsen & Toubro Limited - India
- Lanco Infratech Ltd - India
- Globalindo Alam Lestari - Indonesia
- Mjunction Services Limited - India
- The University of Queensland
- Pipit Mutiara Jaya. PT, Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Mercuria Energy - Indonesia
- Semirara Mining Corp, Philippines
- Aditya Birla Group - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sakthi Sugars Limited - India
- Parliament of New Zealand
- Jorong Barutama Greston.PT - Indonesia
- Binh Thuan Hamico - Vietnam
- ASAPP Information Group - India
- Savvy Resources Ltd - HongKong
- IEA Clean Coal Centre - UK
- Sical Logistics Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Directorate General of MIneral and Coal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Carbofer General Trading SA - India
- Xindia Steels Limited - India
- Formosa Plastics Group - Taiwan
- Ceylon Electricity Board - Sri Lanka
- Thai Mozambique Logistica
- Power Finance Corporation Ltd., India
- Chettinad Cement Corporation Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Eastern Energy - Thailand
- Trasteel International SA, Italy
- Indian Oil Corporation Limited
- Gujarat Sidhee Cement - India
- Borneo Indobara - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Port Waratah Coal Services - Australia
- Chamber of Mines of South Africa
- Petrochimia International Co. Ltd.- Taiwan
- LBH Netherlands Bv - Netherlands
- Planning Commission, India
- Ambuja Cements Ltd - India
- Madhucon Powers Ltd - India
- Bhoruka Overseas - Indonesia
- Economic Council, Georgia
- Cigading International Bulk Terminal - Indonesia
- Thiess Contractors Indonesia
- Sojitz Corporation - Japan
- Barasentosa Lestari - Indonesia
- Sarangani Energy Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
- Siam City Cement - Thailand
- Aboitiz Power Corporation - Philippines
- Oldendorff Carriers - Singapore
- Karaikal Port Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Australian Commodity Traders Exchange
- Leighton Contractors Pty Ltd - Australia
- The State Trading Corporation of India Ltd
- Kalimantan Lumbung Energi - Indonesia
- Directorate Of Revenue Intelligence - India
- TNB Fuel Sdn Bhd - Malaysia
- Makarim & Taira - Indonesia
- Dalmia Cement Bharat India
- Bukit Makmur.PT - Indonesia
- GMR Energy Limited - India
- Wilmar Investment Holdings
- OPG Power Generation Pvt Ltd - India
- Central Java Power - Indonesia
- Latin American Coal - Colombia
- Banpu Public Company Limited - Thailand
- Essar Steel Hazira Ltd - India
- Antam Resourcindo - Indonesia
- SMG Consultants - Indonesia
- Cement Manufacturers Association - India
- Maheswari Brothers Coal Limited - India
- Africa Commodities Group - South Africa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Uttam Galva Steels Limited - India
- Kapuas Tunggal Persada - Indonesia
- Interocean Group of Companies - India
- Maharashtra Electricity Regulatory Commission - India
- Sindya Power Generating Company Private Ltd
- Eastern Coal Council - USA
- Petron Corporation, Philippines
- Coastal Gujarat Power Limited - India
- India Bulls Power Limited - India
- Altura Mining Limited, Indonesia
- Global Green Power PLC Corporation, Philippines
- Global Business Power Corporation, Philippines
- Standard Chartered Bank - UAE
- Coalindo Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Ind-Barath Power Infra Limited - India
- Independent Power Producers Association of India
- Kohat Cement Company Ltd. - Pakistan
- Iligan Light & Power Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- TeaM Sual Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- Pendopo Energi Batubara - Indonesia
- Kideco Jaya Agung - Indonesia
- GAC Shipping (India) Pvt Ltd
- Romanian Commodities Exchange
- SN Aboitiz Power Inc, Philippines
- Intertek Mineral Services - Indonesia
- Tata Chemicals Ltd - India
- Riau Bara Harum - Indonesia
- Vedanta Resources Plc - India
- Bukit Baiduri Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Tamil Nadu electricity Board
- Ministry of Finance - Indonesia
- Global Coal Blending Company Limited - Australia
- Bayan Resources Tbk. - Indonesia
- Energy Development Corp, Philippines
- Bharathi Cement Corporation - India
- Electricity Authority, New Zealand
- Therma Luzon, Inc, Philippines
- Bangladesh Power Developement Board
- Indo Tambangraya Megah - Indonesia
- Timah Investasi Mineral - Indoneisa
- Parry Sugars Refinery, India
- Orica Mining Services - Indonesia
- Jaiprakash Power Ventures ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Miang Besar Coal Terminal - Indonesia
- Videocon Industries ltd - India
- AsiaOL BioFuels Corp., Philippines
- SMC Global Power, Philippines
- Grasim Industreis Ltd - India
- Star Paper Mills Limited - India
- Australian Coal Association
- Kaltim Prima Coal - Indonesia
- Bhushan Steel Limited - India
- San Jose City I Power Corp, Philippines
- Manunggal Multi Energi - Indonesia
- Singapore Mercantile Exchange
- CNBM International Corporation - China
- Malabar Cements Ltd - India
- Marubeni Corporation - India
- IHS Mccloskey Coal Group - USA
- Jindal Steel & Power Ltd - India
- Goldman Sachs - Singapore
- Kartika Selabumi Mining - Indonesia
- Anglo American - United Kingdom
- VISA Power Limited - India
- Sree Jayajothi Cements Limited - India
- Rio Tinto Coal - Australia
- Indogreen Group - Indonesia
- Metalloyd Limited - United Kingdom
- Coal and Oil Company - UAE
- Rashtriya Ispat Nigam Limited - India
- Holcim Trading Pte Ltd - Singapore
- Commonwealth Bank - Australia
- Ministry of Transport, Egypt
- Billiton Holdings Pty Ltd - Australia
- MS Steel International - UAE
- Minerals Council of Australia
- Medco Energi Mining Internasional
- European Bulk Services B.V. - Netherlands
- Indonesian Coal Mining Association
- White Energy Company Limited
- Toyota Tsusho Corporation, Japan
- Neyveli Lignite Corporation Ltd, - India
- Meralco Power Generation, Philippines
- Edison Trading Spa - Italy
- Georgia Ports Authority, United States
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