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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, 17 August 10
HANDIES AND SUPRAS WOKE UP AGAIN AFTER SEVERAL WEEKS OF LETHARGY - BRS
A spectacular increase in Cape size rates pushed the BDI up more than 20% this week, with demand for prompt tonnage in the Pacific causing a major s ...
Monday, 16 August 10
INDIA'S TNPL TO SUPPORT TNEB WITH COAL SUPPLIES
COALspot.com: TNPL to award 300,000 MT of coal supply contract to Nehel General Trading of India. Tamil Nadu state undertaking , Tamil N ...
Monday, 16 August 10
INDONESIA'S PLN SECURED COAL SUPPLIES, LESS IMPACT BY RAINS
COALspot.com: Indonesian State Electricity Company, PT Perusahaan Listrik Negara (PLN), has secured coal supplies for all of its power plants except ...
Sunday, 15 August 10
THE FREIGHT MARKET IS EXPECTED TO REMAIN FIRM - CAPT REDDY
COALspot.com: The BDI rose by almost 22 pct despite peak holiday season which is usually quite market , where as the BCI up sharply by 46 pct which ...
Saturday, 14 August 10
INDONESIAN THERMAL COAL PRICES EXPECTED TO MOVE UP IN SEPTEMBER 2010 - CHAIRMAN ICMA
COALspot.com: Indonesian Coal Mining Association is expecting, the Indonesian and international coal prices will increase, and will be reached ...
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- Mintek Dendrill Indonesia
- Simpson Spence & Young - Indonesia
- GAC Shipping (India) Pvt Ltd
- Australian Coal Association
- Indonesian Coal Mining Association
- Coastal Gujarat Power Limited - India
- Global Coal Blending Company Limited - Australia
- Chamber of Mines of South Africa
- Essar Steel Hazira Ltd - India
- Riau Bara Harum - Indonesia
- ASAPP Information Group - India
- Bukit Asam (Persero) Tbk - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Videocon Industries ltd - India
- Iligan Light & Power Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Karaikal Port Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Singapore Mercantile Exchange
- Vijayanagar Sugar Pvt Ltd - India
- SMG Consultants - Indonesia
- Electricity Authority, New Zealand
- ICICI Bank Limited - India
- Coalindo Energy - Indonesia
- Ministry of Transport, Egypt
- Independent Power Producers Association of India
- Neyveli Lignite Corporation Ltd, - India
- TeaM Sual Corporation - Philippines
- India Bulls Power Limited - India
- Jindal Steel & Power Ltd - India
- Ambuja Cements Ltd - India
- The University of Queensland
- Sarangani Energy Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Binh Thuan Hamico - Vietnam
- New Zealand Coal & Carbon
- Aboitiz Power Corporation - Philippines
- The State Trading Corporation of India Ltd
- MS Steel International - UAE
- Bangladesh Power Developement Board
- Kaltim Prima Coal - Indonesia
- Economic Council, Georgia
- Malabar Cements Ltd - India
- Cigading International Bulk Terminal - Indonesia
- PowerSource Philippines DevCo
- Global Green Power PLC Corporation, Philippines
- Siam City Cement - Thailand
- Interocean Group of Companies - India
- Maheswari Brothers Coal Limited - India
- Star Paper Mills Limited - India
- Edison Trading Spa - Italy
- Wood Mackenzie - Singapore
- Mjunction Services Limited - India
- Indian Energy Exchange, India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indian Oil Corporation Limited
- Attock Cement Pakistan Limited
- Karbindo Abesyapradhi - Indoneisa
- Electricity Generating Authority of Thailand
- Toyota Tsusho Corporation, Japan
- Renaissance Capital - South Africa
- The Treasury - Australian Government
- Baramulti Group, Indonesia
- Africa Commodities Group - South Africa
- Thai Mozambique Logistica
- TNB Fuel Sdn Bhd - Malaysia
- Petrochimia International Co. Ltd.- Taiwan
- Marubeni Corporation - India
- Savvy Resources Ltd - HongKong
- Barasentosa Lestari - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Bukit Baiduri Energy - Indonesia
- Sical Logistics Limited - India
- IEA Clean Coal Centre - UK
- Globalindo Alam Lestari - Indonesia
- Goldman Sachs - Singapore
- Straits Asia Resources Limited - Singapore
- Kideco Jaya Agung - Indonesia
- Wilmar Investment Holdings
- Central Electricity Authority - India
- Central Java Power - Indonesia
- Formosa Plastics Group - Taiwan
- PTC India Limited - India
- Bhoruka Overseas - Indonesia
- Bayan Resources Tbk. - Indonesia
- GMR Energy Limited - India
- SMC Global Power, Philippines
- Antam Resourcindo - Indonesia
- Bulk Trading Sa - Switzerland
- Banpu Public Company Limited - Thailand
- Billiton Holdings Pty Ltd - Australia
- Directorate General of MIneral and Coal - Indonesia
- VISA Power Limited - India
- Jaiprakash Power Ventures ltd
- Altura Mining Limited, Indonesia
- European Bulk Services B.V. - Netherlands
- Xindia Steels Limited - India
- London Commodity Brokers - England
- Tata Chemicals Ltd - India
- Commonwealth Bank - Australia
- Sojitz Corporation - Japan
- Power Finance Corporation Ltd., India
- Manunggal Multi Energi - Indonesia
- Thiess Contractors Indonesia
- Australian Commodity Traders Exchange
- Sree Jayajothi Cements Limited - India
- Eastern Coal Council - USA
- Gujarat Sidhee Cement - India
- Meralco Power Generation, Philippines
- Anglo American - United Kingdom
- Indogreen Group - Indonesia
- Metalloyd Limited - United Kingdom
- Bhushan Steel Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Directorate Of Revenue Intelligence - India
- CNBM International Corporation - China
- Deloitte Consulting - India
- Georgia Ports Authority, United States
- GN Power Mariveles Coal Plant, Philippines
- Energy Development Corp, Philippines
- Therma Luzon, Inc, Philippines
- Port Waratah Coal Services - Australia
- Rio Tinto Coal - Australia
- Aditya Birla Group - India
- Mercuria Energy - Indonesia
- Bharathi Cement Corporation - India
- Global Business Power Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Medco Energi Mining Internasional
- Bahari Cakrawala Sebuku - Indonesia
- Kumho Petrochemical, South Korea
- Coal and Oil Company - UAE
- Oldendorff Carriers - Singapore
- Intertek Mineral Services - Indonesia
- Price Waterhouse Coopers - Russia
- Salva Resources Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Orica Australia Pty. Ltd.
- Mercator Lines Limited - India
- Sindya Power Generating Company Private Ltd
- Alfred C Toepfer International GmbH - Germany
- Sinarmas Energy and Mining - Indonesia
- Parliament of New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Rashtriya Ispat Nigam Limited - India
- Chettinad Cement Corporation Ltd - India
- PNOC Exploration Corporation - Philippines
- Heidelberg Cement - Germany
- Indika Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Merrill Lynch Commodities Europe
- McConnell Dowell - Australia
- Kalimantan Lumbung Energi - Indonesia
- Eastern Energy - Thailand
- Kapuas Tunggal Persada - Indonesia
- Latin American Coal - Colombia
- Timah Investasi Mineral - Indoneisa
- Ind-Barath Power Infra Limited - India
- Orica Mining Services - Indonesia
- White Energy Company Limited
- Indo Tambangraya Megah - Indonesia
- Ministry of Mines - Canada
- Dalmia Cement Bharat India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bukit Makmur.PT - Indonesia
- Makarim & Taira - Indonesia
- Samtan Co., Ltd - South Korea
- Semirara Mining Corp, Philippines
- Bhatia International Limited - India
- Agrawal Coal Company - India
- Romanian Commodities Exchange
- Jorong Barutama Greston.PT - Indonesia
- Minerals Council of Australia
- South Luzon Thermal Energy Corporation
- Kepco SPC Power Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Vizag Seaport Private Limited - India
- Energy Link Ltd, New Zealand
- Ceylon Electricity Board - Sri Lanka
- Pendopo Energi Batubara - Indonesia
- Posco Energy - South Korea
- IHS Mccloskey Coal Group - USA
- Pipit Mutiara Jaya. PT, Indonesia
- Trasteel International SA, Italy
- OPG Power Generation Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Larsen & Toubro Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Parry Sugars Refinery, India
- Planning Commission, India
- Asmin Koalindo Tuhup - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- SN Aboitiz Power Inc, Philippines
- Standard Chartered Bank - UAE
- Ministry of Finance - Indonesia
- Sakthi Sugars Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Petron Corporation, Philippines
- Uttam Galva Steels Limited - India
- Siam City Cement PLC, Thailand
- GVK Power & Infra Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Lanco Infratech Ltd - India
- Cement Manufacturers Association - India
- Kartika Selabumi Mining - Indonesia
- CIMB Investment Bank - Malaysia
- Carbofer General Trading SA - India
- Borneo Indobara - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Vedanta Resources Plc - India
- Grasim Industreis Ltd - India
- AsiaOL BioFuels Corp., Philippines
- International Coal Ventures Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Madhucon Powers Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Tamil Nadu electricity Board
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