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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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Monday, 02 August 10
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Thursday, 29 July 10
GOVT TOO OPTIMISTIC ON IRON, COAL PRICE
Federal government forecasts of continued strength in iron ore and coal prices, which underpin revenue expectations for the proposed new mining tax, ...
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- SMG Consultants - Indonesia
- Billiton Holdings Pty Ltd - Australia
- SMC Global Power, Philippines
- Makarim & Taira - Indonesia
- Semirara Mining Corp, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Baramulti Group, Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Essar Steel Hazira Ltd - India
- Chamber of Mines of South Africa
- Ministry of Mines - Canada
- Therma Luzon, Inc, Philippines
- Madhucon Powers Ltd - India
- Singapore Mercantile Exchange
- Port Waratah Coal Services - Australia
- Bulk Trading Sa - Switzerland
- Kepco SPC Power Corporation, Philippines
- Mjunction Services Limited - India
- ASAPP Information Group - India
- Rashtriya Ispat Nigam Limited - India
- TeaM Sual Corporation - Philippines
- Global Business Power Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Deloitte Consulting - India
- Planning Commission, India
- Star Paper Mills Limited - India
- PNOC Exploration Corporation - Philippines
- Sarangani Energy Corporation, Philippines
- Altura Mining Limited, Indonesia
- Renaissance Capital - South Africa
- Dalmia Cement Bharat India
- Metalloyd Limited - United Kingdom
- IEA Clean Coal Centre - UK
- Sojitz Corporation - Japan
- Iligan Light & Power Inc, Philippines
- Aditya Birla Group - India
- Gujarat Mineral Development Corp Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- SN Aboitiz Power Inc, Philippines
- Bhushan Steel Limited - India
- Economic Council, Georgia
- Orica Australia Pty. Ltd.
- Ambuja Cements Ltd - India
- Barasentosa Lestari - Indonesia
- Heidelberg Cement - Germany
- Manunggal Multi Energi - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Uttam Galva Steels Limited - India
- Coastal Gujarat Power Limited - India
- Mintek Dendrill Indonesia
- Bhoruka Overseas - Indonesia
- Latin American Coal - Colombia
- Globalindo Alam Lestari - Indonesia
- Coalindo Energy - Indonesia
- London Commodity Brokers - England
- Gujarat Electricity Regulatory Commission - India
- OPG Power Generation Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Thai Mozambique Logistica
- Ministry of Transport, Egypt
- Energy Link Ltd, New Zealand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- McConnell Dowell - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Bhatia International Limited - India
- Parry Sugars Refinery, India
- Kalimantan Lumbung Energi - Indonesia
- Savvy Resources Ltd - HongKong
- Interocean Group of Companies - India
- Neyveli Lignite Corporation Ltd, - India
- Riau Bara Harum - Indonesia
- Carbofer General Trading SA - India
- South Luzon Thermal Energy Corporation
- Grasim Industreis Ltd - India
- Indian Oil Corporation Limited
- Salva Resources Pvt Ltd - India
- Georgia Ports Authority, United States
- Straits Asia Resources Limited - Singapore
- Africa Commodities Group - South Africa
- Mercator Lines Limited - India
- CIMB Investment Bank - Malaysia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Formosa Plastics Group - Taiwan
- Bukit Asam (Persero) Tbk - Indonesia
- Electricity Authority, New Zealand
- Bukit Makmur.PT - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Trasteel International SA, Italy
- Attock Cement Pakistan Limited
- Marubeni Corporation - India
- New Zealand Coal & Carbon
- White Energy Company Limited
- Rio Tinto Coal - Australia
- Antam Resourcindo - Indonesia
- Agrawal Coal Company - India
- Sakthi Sugars Limited - India
- Cement Manufacturers Association - India
- Indogreen Group - Indonesia
- Global Green Power PLC Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Orica Mining Services - Indonesia
- Indian Energy Exchange, India
- PowerSource Philippines DevCo
- The Treasury - Australian Government
- MS Steel International - UAE
- Malabar Cements Ltd - India
- Karaikal Port Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Directorate General of MIneral and Coal - Indonesia
- VISA Power Limited - India
- Wood Mackenzie - Singapore
- The University of Queensland
- Aboitiz Power Corporation - Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Semirara Mining and Power Corporation, Philippines
- Goldman Sachs - Singapore
- Energy Development Corp, Philippines
- Anglo American - United Kingdom
- Samtan Co., Ltd - South Korea
- Kartika Selabumi Mining - Indonesia
- Larsen & Toubro Limited - India
- IHS Mccloskey Coal Group - USA
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Jindal Steel & Power Ltd - India
- Videocon Industries ltd - India
- Binh Thuan Hamico - Vietnam
- Edison Trading Spa - Italy
- Sinarmas Energy and Mining - Indonesia
- Siam City Cement - Thailand
- Borneo Indobara - Indonesia
- Petron Corporation, Philippines
- GMR Energy Limited - India
- The State Trading Corporation of India Ltd
- Bukit Baiduri Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- International Coal Ventures Pvt Ltd - India
- Medco Energi Mining Internasional
- PTC India Limited - India
- Minerals Council of Australia
- Central Java Power - Indonesia
- Sindya Power Generating Company Private Ltd
- Siam City Cement PLC, Thailand
- Ministry of Finance - Indonesia
- Tata Chemicals Ltd - India
- European Bulk Services B.V. - Netherlands
- Leighton Contractors Pty Ltd - Australia
- Meralco Power Generation, Philippines
- Standard Chartered Bank - UAE
- Oldendorff Carriers - Singapore
- Romanian Commodities Exchange
- Posco Energy - South Korea
- Banpu Public Company Limited - Thailand
- ICICI Bank Limited - India
- Merrill Lynch Commodities Europe
- Sree Jayajothi Cements Limited - India
- Gujarat Sidhee Cement - India
- Bayan Resources Tbk. - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Eastern Coal Council - USA
- Global Coal Blending Company Limited - Australia
- Electricity Generating Authority of Thailand
- Toyota Tsusho Corporation, Japan
- Bharathi Cement Corporation - India
- Miang Besar Coal Terminal - Indonesia
- Indonesian Coal Mining Association
- Parliament of New Zealand
- Krishnapatnam Port Company Ltd. - India
- Indika Energy - Indonesia
- Independent Power Producers Association of India
- Australian Commodity Traders Exchange
- Timah Investasi Mineral - Indoneisa
- CNBM International Corporation - China
- Bahari Cakrawala Sebuku - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Kaltim Prima Coal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Tamil Nadu electricity Board
- Vedanta Resources Plc - India
- Indo Tambangraya Megah - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Kobexindo Tractors - Indoneisa
- Maharashtra Electricity Regulatory Commission - India
- Wilmar Investment Holdings
- San Jose City I Power Corp, Philippines
- Vizag Seaport Private Limited - India
- Maheswari Brothers Coal Limited - India
- Bangladesh Power Developement Board
- Jaiprakash Power Ventures ltd
- Pendopo Energi Batubara - Indonesia
- Central Electricity Authority - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- GVK Power & Infra Limited - India
- Xindia Steels Limited - India
- Coal and Oil Company - UAE
- Thiess Contractors Indonesia
- Commonwealth Bank - Australia
- Directorate Of Revenue Intelligence - India
- PetroVietnam Power Coal Import and Supply Company
- Ind-Barath Power Infra Limited - India
- Lanco Infratech Ltd - India
- India Bulls Power Limited - India
- Chettinad Cement Corporation Ltd - India
- Intertek Mineral Services - Indonesia
- Price Waterhouse Coopers - Russia
- Australian Coal Association
- Sical Logistics Limited - India
- Power Finance Corporation Ltd., India
- Petrochimia International Co. Ltd.- Taiwan
- Jorong Barutama Greston.PT - Indonesia
- Eastern Energy - Thailand
- Mercuria Energy - Indonesia
- Kumho Petrochemical, South Korea
- Ceylon Electricity Board - Sri Lanka
- Simpson Spence & Young - Indonesia
- Kideco Jaya Agung - Indonesia
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