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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, 31 August 10
CIL MAY SET UP POWER PLANT TO UTILIZE EXCESS COAL
The Economic Times reported that, the world's largest coal producer Coal India Ltd (CIL) said it may consider setting up power plants in the countr ...
Tuesday, 31 August 10
NALCO SEEKS STAKES IN INDONESIAN COAL MINES
Economic Times reported that, National Aluminium Co. Ltd said on Tuesday it wants to buy stakes in Indonesian coal mines to secure supplies fo ...
Tuesday, 31 August 10
CAPESIZE RATES ON VOLATILE MOVEMENT
With Monday a holiday for London’s stockmarket (Bank Holiday), the dry bulk market took a breather before presenting ship owners and charterer ...
Monday, 30 August 10
MUNDRA PORT BEGINS OPERATIONS AT NEW TERMINAL IN GUJARAT
Economic Times reported that, Adani group firm Mundra Port has commenced operations at its 20-million tonnes port at Dahej in Gujarat, the company s ...
Monday, 30 August 10
DRY BULK MARKET STABILIZES, ALBEIT AT A FALLING NOTE
The dry bulk market’s leading benchmark, the Baltic Dry Index (BDI) ended the week at 2712 points, a marginal weekly loss of 1.6% or 44 points ...
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- CIMB Investment Bank - Malaysia
- Videocon Industries ltd - India
- Xindia Steels Limited - India
- Bharathi Cement Corporation - India
- Orica Australia Pty. Ltd.
- Latin American Coal - Colombia
- Kapuas Tunggal Persada - Indonesia
- Eastern Energy - Thailand
- Baramulti Group, Indonesia
- Cigading International Bulk Terminal - Indonesia
- Eastern Coal Council - USA
- Meenaskhi Energy Private Limited - India
- Billiton Holdings Pty Ltd - Australia
- Essar Steel Hazira Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Indika Energy - Indonesia
- Indonesian Coal Mining Association
- Intertek Mineral Services - Indonesia
- Vizag Seaport Private Limited - India
- Neyveli Lignite Corporation Ltd, - India
- New Zealand Coal & Carbon
- TeaM Sual Corporation - Philippines
- The Treasury - Australian Government
- Australian Coal Association
- Mercuria Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Cement Manufacturers Association - India
- Lanco Infratech Ltd - India
- Thiess Contractors Indonesia
- Global Business Power Corporation, Philippines
- Chamber of Mines of South Africa
- Timah Investasi Mineral - Indoneisa
- The University of Queensland
- Wilmar Investment Holdings
- Singapore Mercantile Exchange
- Grasim Industreis Ltd - India
- Antam Resourcindo - Indonesia
- Samtan Co., Ltd - South Korea
- Ministry of Transport, Egypt
- Banpu Public Company Limited - Thailand
- Anglo American - United Kingdom
- PowerSource Philippines DevCo
- GMR Energy Limited - India
- Commonwealth Bank - Australia
- Alfred C Toepfer International GmbH - Germany
- Attock Cement Pakistan Limited
- Kaltim Prima Coal - Indonesia
- Indian Energy Exchange, India
- Indogreen Group - Indonesia
- Mercator Lines Limited - India
- London Commodity Brokers - England
- Sakthi Sugars Limited - India
- Petron Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- MS Steel International - UAE
- Aboitiz Power Corporation - Philippines
- Price Waterhouse Coopers - Russia
- PetroVietnam Power Coal Import and Supply Company
- Tata Chemicals Ltd - India
- Interocean Group of Companies - India
- Heidelberg Cement - Germany
- Jaiprakash Power Ventures ltd
- Sinarmas Energy and Mining - Indonesia
- Electricity Authority, New Zealand
- TNB Fuel Sdn Bhd - Malaysia
- Africa Commodities Group - South Africa
- India Bulls Power Limited - India
- Bayan Resources Tbk. - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Meralco Power Generation, Philippines
- McConnell Dowell - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Borneo Indobara - Indonesia
- Kobexindo Tractors - Indoneisa
- Therma Luzon, Inc, Philippines
- Ambuja Cements Ltd - India
- Karaikal Port Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Romanian Commodities Exchange
- Vedanta Resources Plc - India
- Coalindo Energy - Indonesia
- SMC Global Power, Philippines
- Ind-Barath Power Infra Limited - India
- Tamil Nadu electricity Board
- Wood Mackenzie - Singapore
- Kartika Selabumi Mining - Indonesia
- Jindal Steel & Power Ltd - India
- Renaissance Capital - South Africa
- Jorong Barutama Greston.PT - Indonesia
- Central Electricity Authority - India
- Ministry of Mines - Canada
- Orica Mining Services - Indonesia
- Star Paper Mills Limited - India
- Posco Energy - South Korea
- Siam City Cement - Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The State Trading Corporation of India Ltd
- Holcim Trading Pte Ltd - Singapore
- ASAPP Information Group - India
- Kepco SPC Power Corporation, Philippines
- White Energy Company Limited
- Petrochimia International Co. Ltd.- Taiwan
- Maheswari Brothers Coal Limited - India
- Salva Resources Pvt Ltd - India
- CNBM International Corporation - China
- Straits Asia Resources Limited - Singapore
- SMG Consultants - Indonesia
- IHS Mccloskey Coal Group - USA
- Indo Tambangraya Megah - Indonesia
- Kideco Jaya Agung - Indonesia
- International Coal Ventures Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Barasentosa Lestari - Indonesia
- ICICI Bank Limited - India
- Formosa Plastics Group - Taiwan
- Semirara Mining Corp, Philippines
- GVK Power & Infra Limited - India
- Madhucon Powers Ltd - India
- Parliament of New Zealand
- Larsen & Toubro Limited - India
- Georgia Ports Authority, United States
- Planning Commission, India
- Sical Logistics Limited - India
- Bulk Trading Sa - Switzerland
- Kohat Cement Company Ltd. - Pakistan
- Bukit Makmur.PT - Indonesia
- Globalindo Alam Lestari - Indonesia
- Rio Tinto Coal - Australia
- Marubeni Corporation - India
- Energy Development Corp, Philippines
- Mintek Dendrill Indonesia
- Sarangani Energy Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Agrawal Coal Company - India
- Global Green Power PLC Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Binh Thuan Hamico - Vietnam
- LBH Netherlands Bv - Netherlands
- Parry Sugars Refinery, India
- Directorate Of Revenue Intelligence - India
- Kalimantan Lumbung Energi - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Medco Energi Mining Internasional
- Ministry of Finance - Indonesia
- Sojitz Corporation - Japan
- Chettinad Cement Corporation Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Independent Power Producers Association of India
- Mjunction Services Limited - India
- Central Java Power - Indonesia
- Bukit Baiduri Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- SN Aboitiz Power Inc, Philippines
- Malabar Cements Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Oldendorff Carriers - Singapore
- Coastal Gujarat Power Limited - India
- Gujarat Electricity Regulatory Commission - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Energy Link Ltd, New Zealand
- Manunggal Multi Energi - Indonesia
- Semirara Mining and Power Corporation, Philippines
- IEA Clean Coal Centre - UK
- Ceylon Electricity Board - Sri Lanka
- Siam City Cement PLC, Thailand
- Maharashtra Electricity Regulatory Commission - India
- VISA Power Limited - India
- Merrill Lynch Commodities Europe
- Dalmia Cement Bharat India
- Minerals Council of Australia
- Port Waratah Coal Services - Australia
- Krishnapatnam Port Company Ltd. - India
- PTC India Limited - India
- Metalloyd Limited - United Kingdom
- San Jose City I Power Corp, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bhushan Steel Limited - India
- OPG Power Generation Pvt Ltd - India
- Deloitte Consulting - India
- Power Finance Corporation Ltd., India
- Makarim & Taira - Indonesia
- Carbofer General Trading SA - India
- Global Coal Blending Company Limited - Australia
- Altura Mining Limited, Indonesia
- Australian Commodity Traders Exchange
- GN Power Mariveles Coal Plant, Philippines
- Goldman Sachs - Singapore
- Iligan Light & Power Inc, Philippines
- Savvy Resources Ltd - HongKong
- Electricity Generating Authority of Thailand
- AsiaOL BioFuels Corp., Philippines
- South Luzon Thermal Energy Corporation
- Pendopo Energi Batubara - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Standard Chartered Bank - UAE
- European Bulk Services B.V. - Netherlands
- Trasteel International SA, Italy
- Gujarat Sidhee Cement - India
- Sindya Power Generating Company Private Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- PNOC Exploration Corporation - Philippines
- Edison Trading Spa - Italy
- Bhoruka Overseas - Indonesia
- Bangladesh Power Developement Board
- Thai Mozambique Logistica
- Indian Oil Corporation Limited
- Coal and Oil Company - UAE
- Aditya Birla Group - India
- Riau Bara Harum - Indonesia
- Uttam Galva Steels Limited - India
- Bhatia International Limited - India
- Economic Council, Georgia
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