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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, 20 July 10
DRY BULK SHIPPING MARKET FINDING SOME SUPPORT, AS OWNERS TAKE CAPE SIZES OFF THE MARKET
With the Baltic Dry Index finally having reached bottom, at least according to market analysts, the dry bulk industry is looking to begin its long r ...
Monday, 19 July 10
INDONESIA EXPORTS 24.49 MILLION TONNES OF COAL IN JUNE 2010
COALspot.com: Indonesia, the world largest coal exporter, exported 141.249 million tons of coal in the first half of this year. In June 2010, Indone ...
Monday, 19 July 10
CHINA ONCE AGAIN DOMINATING SHIPPING FREIGHT RATES, WHILE OVERSUPPLY OF TONNAGE RAISES CONCERN
The ending of the week brought a cheerful note among dry bulk ship owners, as the sinking benchmark of the industry, the Baltic Dry Index (BDI) fina ...
Saturday, 17 July 10
THE DRY BULK MARKET CONTINUED THE DOWNWARD TREND - VISTAAR
COALspot.com: The indices continued the downward trend this week also with BDI at 1,720 points and cape size index at 1676 points and the charter ra ...
Saturday, 17 July 10
BULLISH OUTLOOK FOR COKING COAL - MINING MX & HELLENIC SHIPPING
Mining Mx reported that, the coking coal market has better long-term fundamentals than the iron ore market, according to a recent research rep ...
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- GVK Power & Infra Limited - India
- Coal and Oil Company - UAE
- Sinarmas Energy and Mining - Indonesia
- India Bulls Power Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Jorong Barutama Greston.PT - Indonesia
- GAC Shipping (India) Pvt Ltd
- Electricity Generating Authority of Thailand
- Cement Manufacturers Association - India
- SMG Consultants - Indonesia
- Bulk Trading Sa - Switzerland
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indogreen Group - Indonesia
- Orica Australia Pty. Ltd.
- Eastern Energy - Thailand
- Savvy Resources Ltd - HongKong
- Thiess Contractors Indonesia
- Krishnapatnam Port Company Ltd. - India
- Kepco SPC Power Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- VISA Power Limited - India
- Parliament of New Zealand
- Binh Thuan Hamico - Vietnam
- Posco Energy - South Korea
- Sical Logistics Limited - India
- Siam City Cement PLC, Thailand
- Oldendorff Carriers - Singapore
- Miang Besar Coal Terminal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Globalindo Alam Lestari - Indonesia
- Tata Chemicals Ltd - India
- Economic Council, Georgia
- Borneo Indobara - Indonesia
- PTC India Limited - India
- Bharathi Cement Corporation - India
- Karaikal Port Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Barasentosa Lestari - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Deloitte Consulting - India
- Siam City Cement - Thailand
- Parry Sugars Refinery, India
- GMR Energy Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Australian Commodity Traders Exchange
- Makarim & Taira - Indonesia
- Bhoruka Overseas - Indonesia
- Central Electricity Authority - India
- Semirara Mining Corp, Philippines
- Grasim Industreis Ltd - India
- Uttam Galva Steels Limited - India
- Ceylon Electricity Board - Sri Lanka
- Pipit Mutiara Jaya. PT, Indonesia
- Vedanta Resources Plc - India
- Malabar Cements Ltd - India
- CIMB Investment Bank - Malaysia
- Karbindo Abesyapradhi - Indoneisa
- Bukit Baiduri Energy - Indonesia
- Agrawal Coal Company - India
- Commonwealth Bank - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Independent Power Producers Association of India
- Salva Resources Pvt Ltd - India
- Mercator Lines Limited - India
- Carbofer General Trading SA - India
- McConnell Dowell - Australia
- Energy Development Corp, Philippines
- Metalloyd Limited - United Kingdom
- Heidelberg Cement - Germany
- Planning Commission, India
- Maharashtra Electricity Regulatory Commission - India
- LBH Netherlands Bv - Netherlands
- The University of Queensland
- Bukit Makmur.PT - Indonesia
- Pendopo Energi Batubara - Indonesia
- Georgia Ports Authority, United States
- Renaissance Capital - South Africa
- Africa Commodities Group - South Africa
- TNB Fuel Sdn Bhd - Malaysia
- Australian Coal Association
- Formosa Plastics Group - Taiwan
- Petron Corporation, Philippines
- Medco Energi Mining Internasional
- Central Java Power - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Port Waratah Coal Services - Australia
- Ambuja Cements Ltd - India
- Straits Asia Resources Limited - Singapore
- South Luzon Thermal Energy Corporation
- Cigading International Bulk Terminal - Indonesia
- Wilmar Investment Holdings
- Intertek Mineral Services - Indonesia
- International Coal Ventures Pvt Ltd - India
- Trasteel International SA, Italy
- Gujarat Electricity Regulatory Commission - India
- Global Green Power PLC Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Lanco Infratech Ltd - India
- Antam Resourcindo - Indonesia
- Coastal Gujarat Power Limited - India
- Kaltim Prima Coal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Mintek Dendrill Indonesia
- Mercuria Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Indika Energy - Indonesia
- Merrill Lynch Commodities Europe
- Kapuas Tunggal Persada - Indonesia
- Riau Bara Harum - Indonesia
- Mjunction Services Limited - India
- SN Aboitiz Power Inc, Philippines
- Bhatia International Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Baramulti Group, Indonesia
- Larsen & Toubro Limited - India
- Aboitiz Power Corporation - Philippines
- Rio Tinto Coal - Australia
- Jindal Steel & Power Ltd - India
- Orica Mining Services - Indonesia
- Ministry of Mines - Canada
- Directorate General of MIneral and Coal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Dalmia Cement Bharat India
- Sarangani Energy Corporation, Philippines
- Wood Mackenzie - Singapore
- Bhushan Steel Limited - India
- Videocon Industries ltd - India
- Billiton Holdings Pty Ltd - Australia
- Indian Oil Corporation Limited
- London Commodity Brokers - England
- ASAPP Information Group - India
- Sojitz Corporation - Japan
- Meralco Power Generation, Philippines
- Therma Luzon, Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Banpu Public Company Limited - Thailand
- Asmin Koalindo Tuhup - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indonesian Coal Mining Association
- TeaM Sual Corporation - Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Manunggal Multi Energi - Indonesia
- Price Waterhouse Coopers - Russia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Vizag Seaport Private Limited - India
- White Energy Company Limited
- Tamil Nadu electricity Board
- Gujarat Mineral Development Corp Ltd - India
- Gujarat Sidhee Cement - India
- IHS Mccloskey Coal Group - USA
- SMC Global Power, Philippines
- AsiaOL BioFuels Corp., Philippines
- Energy Link Ltd, New Zealand
- Indian Energy Exchange, India
- Singapore Mercantile Exchange
- Holcim Trading Pte Ltd - Singapore
- Electricity Authority, New Zealand
- Madhucon Powers Ltd - India
- The Treasury - Australian Government
- Altura Mining Limited, Indonesia
- Anglo American - United Kingdom
- Minerals Council of Australia
- Coalindo Energy - Indonesia
- Ministry of Transport, Egypt
- Eastern Coal Council - USA
- Global Coal Blending Company Limited - Australia
- Ministry of Finance - Indonesia
- PNOC Exploration Corporation - Philippines
- Kumho Petrochemical, South Korea
- Marubeni Corporation - India
- Bukit Asam (Persero) Tbk - Indonesia
- Sree Jayajothi Cements Limited - India
- Sindya Power Generating Company Private Ltd
- The State Trading Corporation of India Ltd
- Alfred C Toepfer International GmbH - Germany
- Iligan Light & Power Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Global Business Power Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Essar Steel Hazira Ltd - India
- Toyota Tsusho Corporation, Japan
- Star Paper Mills Limited - India
- Attock Cement Pakistan Limited
- Chamber of Mines of South Africa
- Interocean Group of Companies - India
- Aditya Birla Group - India
- Bangladesh Power Developement Board
- Simpson Spence & Young - Indonesia
- Indo Tambangraya Megah - Indonesia
- Thai Mozambique Logistica
- Kobexindo Tractors - Indoneisa
- Goldman Sachs - Singapore
- Kideco Jaya Agung - Indonesia
- Latin American Coal - Colombia
- CNBM International Corporation - China
- European Bulk Services B.V. - Netherlands
- MS Steel International - UAE
- New Zealand Coal & Carbon
- Timah Investasi Mineral - Indoneisa
- PowerSource Philippines DevCo
- Standard Chartered Bank - UAE
- ICICI Bank Limited - India
- Xindia Steels Limited - India
- Kartika Selabumi Mining - Indonesia
- San Jose City I Power Corp, Philippines
- Sakthi Sugars Limited - India
- Semirara Mining and Power Corporation, Philippines
- Romanian Commodities Exchange
- Maheswari Brothers Coal Limited - India
- Power Finance Corporation Ltd., India
- Edison Trading Spa - Italy
- Bayan Resources Tbk. - Indonesia
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