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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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Saturday, 28 August 10
THE FUTURES FOR THREE YEARS (2010-2012) WAS FIRM FOR CAPE AND PANAMAX VESSELS - VISTAAR
COALspot.com: The freight market appeared to be heading for correction with the indices coming off during later part of the week. The BDI closed 44 ...
Saturday, 28 August 10
KRISHNAPATNAM PORT SETS AN ALL INDIA COAL DISCHARGE RECORD
COALspot.com: Krishnapatnam Port has established all new record for coal discharged in India using the conventional system of coal unloading for por ...
Friday, 27 August 10
PAKISTAN WILL IMPORT 8 TO 10 PERCENT MORE COAL IN 2011
COALspot.com: Pakistan to import 4 million ton of coal in 2011 up by 8-10 percent compare to this year’s imports. "Pakistan's tota ...
Thursday, 26 August 10
CHARTERERS SWITCHING FROM PANAMAX TO CAPE STEMS DUE TO CAPE FALL
Handy
The activity picked up in the Atlantic with more enquiries seen for short period tonnage for end August/beg September - As the grain season ...
Wednesday, 25 August 10
BUKIT ASAM OUT TO BECOME BIGGEST COAL PRODUCER
The Jakarta Post reported that, State-owned PT Batubara Bukit Asam Tbk intends to become the country's biggest coal producer in 2016 with productio ...
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- PowerSource Philippines DevCo
- Toyota Tsusho Corporation, Japan
- Trasteel International SA, Italy
- Bukit Asam (Persero) Tbk - Indonesia
- Agrawal Coal Company - India
- Intertek Mineral Services - Indonesia
- Makarim & Taira - Indonesia
- Independent Power Producers Association of India
- Indian Oil Corporation Limited
- New Zealand Coal & Carbon
- Bharathi Cement Corporation - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Uttam Galva Steels Limited - India
- Sical Logistics Limited - India
- Sinarmas Energy and Mining - Indonesia
- Directorate Of Revenue Intelligence - India
- Bhoruka Overseas - Indonesia
- Cement Manufacturers Association - India
- Cigading International Bulk Terminal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Formosa Plastics Group - Taiwan
- Energy Link Ltd, New Zealand
- Global Green Power PLC Corporation, Philippines
- Ministry of Mines - Canada
- Latin American Coal - Colombia
- OPG Power Generation Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Goldman Sachs - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Miang Besar Coal Terminal - Indonesia
- Dalmia Cement Bharat India
- Electricity Generating Authority of Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Mercator Lines Limited - India
- Savvy Resources Ltd - HongKong
- Kideco Jaya Agung - Indonesia
- Interocean Group of Companies - India
- Larsen & Toubro Limited - India
- Rio Tinto Coal - Australia
- Orica Australia Pty. Ltd.
- Antam Resourcindo - Indonesia
- CNBM International Corporation - China
- Ceylon Electricity Board - Sri Lanka
- Meenaskhi Energy Private Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Thiess Contractors Indonesia
- Bulk Trading Sa - Switzerland
- Minerals Council of Australia
- Parliament of New Zealand
- Jindal Steel & Power Ltd - India
- Binh Thuan Hamico - Vietnam
- Bukit Makmur.PT - Indonesia
- Therma Luzon, Inc, Philippines
- Wilmar Investment Holdings
- Marubeni Corporation - India
- London Commodity Brokers - England
- Sakthi Sugars Limited - India
- Electricity Authority, New Zealand
- Banpu Public Company Limited - Thailand
- Ambuja Cements Ltd - India
- Aboitiz Power Corporation - Philippines
- Ministry of Finance - Indonesia
- Sindya Power Generating Company Private Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Altura Mining Limited, Indonesia
- Jaiprakash Power Ventures ltd
- Barasentosa Lestari - Indonesia
- ASAPP Information Group - India
- Directorate General of MIneral and Coal - Indonesia
- Straits Asia Resources Limited - Singapore
- Malabar Cements Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Central Java Power - Indonesia
- Posco Energy - South Korea
- Ministry of Transport, Egypt
- Coastal Gujarat Power Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Medco Energi Mining Internasional
- Renaissance Capital - South Africa
- Kobexindo Tractors - Indoneisa
- GMR Energy Limited - India
- Port Waratah Coal Services - Australia
- Wood Mackenzie - Singapore
- Kumho Petrochemical, South Korea
- Eastern Energy - Thailand
- Mintek Dendrill Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bhushan Steel Limited - India
- Bangladesh Power Developement Board
- Mjunction Services Limited - India
- Global Coal Blending Company Limited - Australia
- Indian Energy Exchange, India
- Karbindo Abesyapradhi - Indoneisa
- Oldendorff Carriers - Singapore
- Pendopo Energi Batubara - Indonesia
- Commonwealth Bank - Australia
- Ind-Barath Power Infra Limited - India
- Videocon Industries ltd - India
- McConnell Dowell - Australia
- Coalindo Energy - Indonesia
- ICICI Bank Limited - India
- Bukit Baiduri Energy - Indonesia
- Thai Mozambique Logistica
- Georgia Ports Authority, United States
- Timah Investasi Mineral - Indoneisa
- IEA Clean Coal Centre - UK
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Meralco Power Generation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Siam City Cement PLC, Thailand
- GVK Power & Infra Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kartika Selabumi Mining - Indonesia
- Karaikal Port Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Borneo Indobara - Indonesia
- Aditya Birla Group - India
- Siam City Cement - Thailand
- White Energy Company Limited
- Merrill Lynch Commodities Europe
- The University of Queensland
- Simpson Spence & Young - Indonesia
- South Luzon Thermal Energy Corporation
- Carbofer General Trading SA - India
- Billiton Holdings Pty Ltd - Australia
- Price Waterhouse Coopers - Russia
- Mercuria Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Semirara Mining Corp, Philippines
- Maheswari Brothers Coal Limited - India
- Iligan Light & Power Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- TeaM Sual Corporation - Philippines
- Planning Commission, India
- Baramulti Group, Indonesia
- International Coal Ventures Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Riau Bara Harum - Indonesia
- Bhatia International Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Eastern Coal Council - USA
- Sree Jayajothi Cements Limited - India
- LBH Netherlands Bv - Netherlands
- Orica Mining Services - Indonesia
- Globalindo Alam Lestari - Indonesia
- Vizag Seaport Private Limited - India
- Indonesian Coal Mining Association
- Petrochimia International Co. Ltd.- Taiwan
- Chamber of Mines of South Africa
- Lanco Infratech Ltd - India
- Metalloyd Limited - United Kingdom
- SMG Consultants - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Sarangani Energy Corporation, Philippines
- Vedanta Resources Plc - India
- Anglo American - United Kingdom
- European Bulk Services B.V. - Netherlands
- Romanian Commodities Exchange
- Kepco SPC Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Petron Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- PNOC Exploration Corporation - Philippines
- Semirara Mining and Power Corporation, Philippines
- Indogreen Group - Indonesia
- Bayan Resources Tbk. - Indonesia
- Tamil Nadu electricity Board
- Heidelberg Cement - Germany
- Rashtriya Ispat Nigam Limited - India
- Energy Development Corp, Philippines
- IHS Mccloskey Coal Group - USA
- Neyveli Lignite Corporation Ltd, - India
- Power Finance Corporation Ltd., India
- Australian Commodity Traders Exchange
- Gujarat Electricity Regulatory Commission - India
- Xindia Steels Limited - India
- Sojitz Corporation - Japan
- The State Trading Corporation of India Ltd
- Parry Sugars Refinery, India
- Salva Resources Pvt Ltd - India
- Indika Energy - Indonesia
- CIMB Investment Bank - Malaysia
- India Bulls Power Limited - India
- PTC India Limited - India
- San Jose City I Power Corp, Philippines
- Chettinad Cement Corporation Ltd - India
- Leighton Contractors Pty Ltd - Australia
- MS Steel International - UAE
- Attock Cement Pakistan Limited
- Essar Steel Hazira Ltd - India
- Madhucon Powers Ltd - India
- Standard Chartered Bank - UAE
- Australian Coal Association
- SMC Global Power, Philippines
- AsiaOL BioFuels Corp., Philippines
- Grasim Industreis Ltd - India
- Deloitte Consulting - India
- SN Aboitiz Power Inc, Philippines
- Edison Trading Spa - Italy
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Singapore Mercantile Exchange
- Gujarat Sidhee Cement - India
- Africa Commodities Group - South Africa
- Economic Council, Georgia
- The Treasury - Australian Government
- Samtan Co., Ltd - South Korea
- Pipit Mutiara Jaya. PT, Indonesia
- Tata Chemicals Ltd - India
- Central Electricity Authority - India
- Coal and Oil Company - UAE
- Star Paper Mills Limited - India
- Global Business Power Corporation, Philippines
- VISA Power Limited - India
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