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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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Friday, 06 August 10
KRISHNAPATNAM PORT WINS NON MAJOR PORT AWARD 2ND TIME IN A ROW
COAlspot.com ( Press Release) Krishnapatnam Port, the world-class port on the Indian horizon, took the top honors for the second time in a row, in t ...
Friday, 06 August 10
POLANDS KOPEX GROUP DEVELOPS COAL MINE IN INDONESIA
Polishmarket reported that, Polish mining concern Kopex Group, , is to build the first in Indonesia mechanised underground coal mine. The group is c ...
Thursday, 05 August 10
MORATORIUM MAY HURT NEW PROJECTS: MINING GROUP
The government’s proposed two-year moratorium on issuing new concessions to convert forests and peatlands to other uses may hinder new mining ...
Thursday, 05 August 10
IRON ORE EXPORT BAN COMPOUNDS PROBLEMS OF INDUSTRY - BUSINESS STANDARD
Forex loss of Rs 300 crore (US$ 65.63 million) ; truckers, ports, Railways bear the brunt
The Karnataka government’s move to ban the export ...
Thursday, 05 August 10
DRY BULK LOOKING TO CHINA FOR A NEW RALLY, BUT INDIA COULD BE THIS YEAR'S SURPRISE
The dry bulk market’s rebound has hit a “wall” this week, with the industry’s benchmark, the BDI (Baltic Dry Index) ending i ...
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- ICICI Bank Limited - India
- Karaikal Port Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Power Finance Corporation Ltd., India
- Maharashtra Electricity Regulatory Commission - India
- Karbindo Abesyapradhi - Indoneisa
- SN Aboitiz Power Inc, Philippines
- Coal and Oil Company - UAE
- Chamber of Mines of South Africa
- Salva Resources Pvt Ltd - India
- Sojitz Corporation - Japan
- Bangladesh Power Developement Board
- Banpu Public Company Limited - Thailand
- Parliament of New Zealand
- Gujarat Sidhee Cement - India
- PetroVietnam Power Coal Import and Supply Company
- Mjunction Services Limited - India
- Aditya Birla Group - India
- Kartika Selabumi Mining - Indonesia
- The University of Queensland
- Uttam Galva Steels Limited - India
- Orica Australia Pty. Ltd.
- Bank of Tokyo Mitsubishi UFJ Ltd
- Eastern Coal Council - USA
- Medco Energi Mining Internasional
- Indian Energy Exchange, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- White Energy Company Limited
- Electricity Authority, New Zealand
- Chettinad Cement Corporation Ltd - India
- Bhatia International Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- GAC Shipping (India) Pvt Ltd
- Kaltim Prima Coal - Indonesia
- IEA Clean Coal Centre - UK
- Dalmia Cement Bharat India
- Global Green Power PLC Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Ministry of Finance - Indonesia
- Heidelberg Cement - Germany
- Pipit Mutiara Jaya. PT, Indonesia
- Marubeni Corporation - India
- Directorate General of MIneral and Coal - Indonesia
- Tata Chemicals Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Australian Coal Association
- Bukit Makmur.PT - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Jindal Steel & Power Ltd - India
- CIMB Investment Bank - Malaysia
- Bharathi Cement Corporation - India
- Indogreen Group - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Alfred C Toepfer International GmbH - Germany
- Borneo Indobara - Indonesia
- Bukit Baiduri Energy - Indonesia
- SMG Consultants - Indonesia
- Metalloyd Limited - United Kingdom
- Kideco Jaya Agung - Indonesia
- Parry Sugars Refinery, India
- Ind-Barath Power Infra Limited - India
- San Jose City I Power Corp, Philippines
- Merrill Lynch Commodities Europe
- Billiton Holdings Pty Ltd - Australia
- Coastal Gujarat Power Limited - India
- Larsen & Toubro Limited - India
- McConnell Dowell - Australia
- Indonesian Coal Mining Association
- PTC India Limited - India
- Intertek Mineral Services - Indonesia
- GVK Power & Infra Limited - India
- Indian Oil Corporation Limited
- Bukit Asam (Persero) Tbk - Indonesia
- Tamil Nadu electricity Board
- Kobexindo Tractors - Indoneisa
- Kalimantan Lumbung Energi - Indonesia
- Sindya Power Generating Company Private Ltd
- Ministry of Transport, Egypt
- Binh Thuan Hamico - Vietnam
- GN Power Mariveles Coal Plant, Philippines
- Baramulti Group, Indonesia
- Iligan Light & Power Inc, Philippines
- Anglo American - United Kingdom
- Deloitte Consulting - India
- Price Waterhouse Coopers - Russia
- ASAPP Information Group - India
- Jaiprakash Power Ventures ltd
- Kumho Petrochemical, South Korea
- Oldendorff Carriers - Singapore
- Central Electricity Authority - India
- Altura Mining Limited, Indonesia
- MS Steel International - UAE
- Star Paper Mills Limited - India
- Ministry of Mines - Canada
- Goldman Sachs - Singapore
- Eastern Energy - Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Carbofer General Trading SA - India
- Vizag Seaport Private Limited - India
- Meralco Power Generation, Philippines
- Malabar Cements Ltd - India
- TeaM Sual Corporation - Philippines
- Makarim & Taira - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Thai Mozambique Logistica
- Wilmar Investment Holdings
- Krishnapatnam Port Company Ltd. - India
- Directorate Of Revenue Intelligence - India
- Kepco SPC Power Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Samtan Co., Ltd - South Korea
- Madhucon Powers Ltd - India
- Standard Chartered Bank - UAE
- Holcim Trading Pte Ltd - Singapore
- Mercuria Energy - Indonesia
- SMC Global Power, Philippines
- Sinarmas Energy and Mining - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Riau Bara Harum - Indonesia
- Port Waratah Coal Services - Australia
- Grasim Industreis Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Aboitiz Power Corporation - Philippines
- Antam Resourcindo - Indonesia
- Bayan Resources Tbk. - Indonesia
- IHS Mccloskey Coal Group - USA
- Thiess Contractors Indonesia
- Orica Mining Services - Indonesia
- Savvy Resources Ltd - HongKong
- Central Java Power - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Interocean Group of Companies - India
- Energy Link Ltd, New Zealand
- Jorong Barutama Greston.PT - Indonesia
- Posco Energy - South Korea
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The Treasury - Australian Government
- Australian Commodity Traders Exchange
- Independent Power Producers Association of India
- Maheswari Brothers Coal Limited - India
- Rashtriya Ispat Nigam Limited - India
- Africa Commodities Group - South Africa
- Electricity Generating Authority of Thailand
- Sarangani Energy Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- International Coal Ventures Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Kapuas Tunggal Persada - Indonesia
- Global Coal Blending Company Limited - Australia
- GMR Energy Limited - India
- Romanian Commodities Exchange
- TNB Fuel Sdn Bhd - Malaysia
- Meenaskhi Energy Private Limited - India
- Bhushan Steel Limited - India
- Cigading International Bulk Terminal - Indonesia
- Indika Energy - Indonesia
- Latin American Coal - Colombia
- CNBM International Corporation - China
- Trasteel International SA, Italy
- Neyveli Lignite Corporation Ltd, - India
- PowerSource Philippines DevCo
- Semirara Mining Corp, Philippines
- Simpson Spence & Young - Indonesia
- Manunggal Multi Energi - Indonesia
- Mintek Dendrill Indonesia
- Global Business Power Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Mercator Lines Limited - India
- Edison Trading Spa - Italy
- Attock Cement Pakistan Limited
- India Bulls Power Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- PNOC Exploration Corporation - Philippines
- New Zealand Coal & Carbon
- Singapore Mercantile Exchange
- Siam City Cement PLC, Thailand
- VISA Power Limited - India
- Siam City Cement - Thailand
- Energy Development Corp, Philippines
- Therma Luzon, Inc, Philippines
- Planning Commission, India
- Indo Tambangraya Megah - Indonesia
- Vedanta Resources Plc - India
- Georgia Ports Authority, United States
- Sical Logistics Limited - India
- Xindia Steels Limited - India
- Cement Manufacturers Association - India
- Toyota Tsusho Corporation, Japan
- Lanco Infratech Ltd - India
- Videocon Industries ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- OPG Power Generation Pvt Ltd - India
- Petron Corporation, Philippines
- Sakthi Sugars Limited - India
- Coalindo Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Economic Council, Georgia
- Ambuja Cements Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Renaissance Capital - South Africa
- Commonwealth Bank - Australia
- Wood Mackenzie - Singapore
- Barasentosa Lestari - Indonesia
- Rio Tinto Coal - Australia
- Agrawal Coal Company - India
- South Luzon Thermal Energy Corporation
- London Commodity Brokers - England
- Minerals Council of Australia
- LBH Netherlands Bv - Netherlands
- Leighton Contractors Pty Ltd - Australia
- European Bulk Services B.V. - Netherlands
- The State Trading Corporation of India Ltd
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