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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, 23 July 10
THE PANAMAX MARKET HAS CONTINUED ITS SLOW CLIMB - FEARNLEYS
Handy
Continued flat Atlantic markets and over-supply of tonnage across all segments on spot basis. Nevertheless there is more fresh enquiry on Co ...
Friday, 23 July 10
KPMG INDIA FACES COAL DEFICIT OF 50% OF EXPECTED POWER PLANT DEMAND, SAYS - BLOOMBERG
Bloomberg reported that, India may face a coal shortfall of 189 million metric tons a year by 2015, about 50 percent of the power sector’s exp ...
Thursday, 22 July 10
BERAUS IPO NEXT MONTH CAN BECOME THE LARGEST THIS YEAR - THE JAKARTA POST
The Jakarta Post reported that, Indonesia’s fifth largest coal miner PT Berau Coal Energy Tbk will launch its initial public offering (IPO) ne ...
Thursday, 22 July 10
DRY BULK MARKET EDGES HIGHER, BUT RECOVERY IS SLOW
The dry bulk market’s recovery, which started last Friday has sustained its momentum thus far, but the pace of it seems to be an agonizing one ...
Wednesday, 21 July 10
CHARTER RATES FOR BIG SHIPS GO INTO FREEFALL
It is reported that concerns over the slowdown in the mainland construction sector posturing over ore price negotiations and a general summer slowdo ...
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- GN Power Mariveles Coal Plant, Philippines
- Energy Development Corp, Philippines
- PetroVietnam Power Coal Import and Supply Company
- CNBM International Corporation - China
- New Zealand Coal & Carbon
- Merrill Lynch Commodities Europe
- Sarangani Energy Corporation, Philippines
- Siam City Cement PLC, Thailand
- Electricity Generating Authority of Thailand
- Cigading International Bulk Terminal - Indonesia
- Kobexindo Tractors - Indoneisa
- Iligan Light & Power Inc, Philippines
- Grasim Industreis Ltd - India
- GAC Shipping (India) Pvt Ltd
- Posco Energy - South Korea
- Tamil Nadu electricity Board
- Latin American Coal - Colombia
- Commonwealth Bank - Australia
- SN Aboitiz Power Inc, Philippines
- IEA Clean Coal Centre - UK
- Star Paper Mills Limited - India
- Orica Australia Pty. Ltd.
- Marubeni Corporation - India
- London Commodity Brokers - England
- Maharashtra Electricity Regulatory Commission - India
- Australian Commodity Traders Exchange
- Simpson Spence & Young - Indonesia
- Port Waratah Coal Services - Australia
- Petron Corporation, Philippines
- Chamber of Mines of South Africa
- Global Green Power PLC Corporation, Philippines
- Ministry of Transport, Egypt
- Directorate Of Revenue Intelligence - India
- Kepco SPC Power Corporation, Philippines
- Planning Commission, India
- Bangladesh Power Developement Board
- Medco Energi Mining Internasional
- Mercator Lines Limited - India
- Electricity Authority, New Zealand
- Romanian Commodities Exchange
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- CIMB Investment Bank - Malaysia
- GMR Energy Limited - India
- Central Electricity Authority - India
- Agrawal Coal Company - India
- Xindia Steels Limited - India
- Vizag Seaport Private Limited - India
- Energy Link Ltd, New Zealand
- Eastern Energy - Thailand
- Lanco Infratech Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Jorong Barutama Greston.PT - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Coastal Gujarat Power Limited - India
- Alfred C Toepfer International GmbH - Germany
- Coalindo Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- IHS Mccloskey Coal Group - USA
- Oldendorff Carriers - Singapore
- Interocean Group of Companies - India
- Price Waterhouse Coopers - Russia
- Ambuja Cements Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Indika Energy - Indonesia
- Madhucon Powers Ltd - India
- Ind-Barath Power Infra Limited - India
- Ceylon Electricity Board - Sri Lanka
- White Energy Company Limited
- Bhushan Steel Limited - India
- Power Finance Corporation Ltd., India
- Singapore Mercantile Exchange
- Kartika Selabumi Mining - Indonesia
- MS Steel International - UAE
- Mercuria Energy - Indonesia
- Bukit Baiduri Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Makarim & Taira - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Sree Jayajothi Cements Limited - India
- Chettinad Cement Corporation Ltd - India
- McConnell Dowell - Australia
- Meralco Power Generation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- OPG Power Generation Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Therma Luzon, Inc, Philippines
- Samtan Co., Ltd - South Korea
- LBH Netherlands Bv - Netherlands
- The University of Queensland
- Independent Power Producers Association of India
- Kaltim Prima Coal - Indonesia
- Indian Oil Corporation Limited
- Orica Mining Services - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Uttam Galva Steels Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Straits Asia Resources Limited - Singapore
- Jaiprakash Power Ventures ltd
- Thiess Contractors Indonesia
- Pendopo Energi Batubara - Indonesia
- Carbofer General Trading SA - India
- Baramulti Group, Indonesia
- Indogreen Group - Indonesia
- Minerals Council of Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Australian Coal Association
- San Jose City I Power Corp, Philippines
- Jindal Steel & Power Ltd - India
- GVK Power & Infra Limited - India
- Trasteel International SA, Italy
- Thai Mozambique Logistica
- Bukit Makmur.PT - Indonesia
- VISA Power Limited - India
- AsiaOL BioFuels Corp., Philippines
- SMC Global Power, Philippines
- Bharathi Cement Corporation - India
- Parry Sugars Refinery, India
- Formosa Plastics Group - Taiwan
- Banpu Public Company Limited - Thailand
- Central Java Power - Indonesia
- Cement Manufacturers Association - India
- Tata Chemicals Ltd - India
- Wilmar Investment Holdings
- Manunggal Multi Energi - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Kideco Jaya Agung - Indonesia
- Anglo American - United Kingdom
- The Treasury - Australian Government
- SMG Consultants - Indonesia
- International Coal Ventures Pvt Ltd - India
- Malabar Cements Ltd - India
- Metalloyd Limited - United Kingdom
- ICICI Bank Limited - India
- Wood Mackenzie - Singapore
- Kumho Petrochemical, South Korea
- Standard Chartered Bank - UAE
- Georgia Ports Authority, United States
- Sindya Power Generating Company Private Ltd
- India Bulls Power Limited - India
- Gujarat Sidhee Cement - India
- Deloitte Consulting - India
- Salva Resources Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ministry of Finance - Indonesia
- Bulk Trading Sa - Switzerland
- Billiton Holdings Pty Ltd - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Attock Cement Pakistan Limited
- Semirara Mining and Power Corporation, Philippines
- Sojitz Corporation - Japan
- ASAPP Information Group - India
- PowerSource Philippines DevCo
- Edison Trading Spa - Italy
- Barasentosa Lestari - Indonesia
- Bhatia International Limited - India
- PNOC Exploration Corporation - Philippines
- Globalindo Alam Lestari - Indonesia
- Aditya Birla Group - India
- Sakthi Sugars Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Eastern Coal Council - USA
- South Luzon Thermal Energy Corporation
- Rio Tinto Coal - Australia
- Toyota Tsusho Corporation, Japan
- Global Business Power Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Videocon Industries ltd - India
- Indonesian Coal Mining Association
- The State Trading Corporation of India Ltd
- Mjunction Services Limited - India
- Goldman Sachs - Singapore
- Indo Tambangraya Megah - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Vedanta Resources Plc - India
- Krishnapatnam Port Company Ltd. - India
- European Bulk Services B.V. - Netherlands
- Bayan Resources Tbk. - Indonesia
- Altura Mining Limited, Indonesia
- Leighton Contractors Pty Ltd - Australia
- Timah Investasi Mineral - Indoneisa
- TeaM Sual Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Siam City Cement - Thailand
- Heidelberg Cement - Germany
- Borneo Indobara - Indonesia
- Global Coal Blending Company Limited - Australia
- Savvy Resources Ltd - HongKong
- Africa Commodities Group - South Africa
- Bhoruka Overseas - Indonesia
- Karaikal Port Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Economic Council, Georgia
- Sinarmas Energy and Mining - Indonesia
- Dalmia Cement Bharat India
- Neyveli Lignite Corporation Ltd, - India
- Indian Energy Exchange, India
- Intertek Mineral Services - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Sical Logistics Limited - India
- Rashtriya Ispat Nigam Limited - India
- Riau Bara Harum - Indonesia
- PTC India Limited - India
- Ministry of Mines - Canada
- Aboitiz Power Corporation - Philippines
- Meenaskhi Energy Private Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Renaissance Capital - South Africa
- Maheswari Brothers Coal Limited - India
- Parliament of New Zealand
- Binh Thuan Hamico - Vietnam
- Coal and Oil Company - UAE
- Larsen & Toubro Limited - India
- Mintek Dendrill Indonesia
- Semirara Mining Corp, Philippines
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