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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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Thursday, 15 July 10
IRON ORE PRICING MECHANISMS PUT ON THE SPOT
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- The University of Queensland
- ASAPP Information Group - India
- Interocean Group of Companies - India
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- Petrochimia International Co. Ltd.- Taiwan
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- Thiess Contractors Indonesia
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- Chettinad Cement Corporation Ltd - India
- SMC Global Power, Philippines
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- Rio Tinto Coal - Australia
- European Bulk Services B.V. - Netherlands
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- Minerals Council of Australia
- Kohat Cement Company Ltd. - Pakistan
- TNB Fuel Sdn Bhd - Malaysia
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- Trasteel International SA, Italy
- Intertek Mineral Services - Indonesia
- Energy Link Ltd, New Zealand
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- Indian Energy Exchange, India
- South Luzon Thermal Energy Corporation
- Karbindo Abesyapradhi - Indoneisa
- Electricity Generating Authority of Thailand
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- Vedanta Resources Plc - India
- Tata Chemicals Ltd - India
- Kumho Petrochemical, South Korea
- San Jose City I Power Corp, Philippines
- Heidelberg Cement - Germany
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indika Energy - Indonesia
- India Bulls Power Limited - India
- IEA Clean Coal Centre - UK
- Indogreen Group - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Bukit Makmur.PT - Indonesia
- Samtan Co., Ltd - South Korea
- Merrill Lynch Commodities Europe
- Kepco SPC Power Corporation, Philippines
- Latin American Coal - Colombia
- Thai Mozambique Logistica
- ICICI Bank Limited - India
- Indian Oil Corporation Limited
- Siam City Cement - Thailand
- Alfred C Toepfer International GmbH - Germany
- SN Aboitiz Power Inc, Philippines
- Videocon Industries ltd - India
- Carbofer General Trading SA - India
- Rashtriya Ispat Nigam Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Bharathi Cement Corporation - India
- Semirara Mining and Power Corporation, Philippines
- Sical Logistics Limited - India
- Pendopo Energi Batubara - Indonesia
- Ambuja Cements Ltd - India
- Indonesian Coal Mining Association
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Edison Trading Spa - Italy
- Wilmar Investment Holdings
- Pipit Mutiara Jaya. PT, Indonesia
- Marubeni Corporation - India
- Neyveli Lignite Corporation Ltd, - India
- Global Coal Blending Company Limited - Australia
- CNBM International Corporation - China
- Aditya Birla Group - India
- Bahari Cakrawala Sebuku - Indonesia
- Jaiprakash Power Ventures ltd
- Sojitz Corporation - Japan
- Orica Mining Services - Indonesia
- Salva Resources Pvt Ltd - India
- Australian Commodity Traders Exchange
- Holcim Trading Pte Ltd - Singapore
- Parry Sugars Refinery, India
- Antam Resourcindo - Indonesia
- Barasentosa Lestari - Indonesia
- Global Green Power PLC Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bhushan Steel Limited - India
- Independent Power Producers Association of India
- Makarim & Taira - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Meralco Power Generation, Philippines
- Maheswari Brothers Coal Limited - India
- TeaM Sual Corporation - Philippines
- IHS Mccloskey Coal Group - USA
- Karaikal Port Pvt Ltd - India
- Medco Energi Mining Internasional
- Madhucon Powers Ltd - India
- Xindia Steels Limited - India
- Oldendorff Carriers - Singapore
- The Treasury - Australian Government
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- PTC India Limited - India
- Gujarat Sidhee Cement - India
- Metalloyd Limited - United Kingdom
- Riau Bara Harum - Indonesia
- Eastern Energy - Thailand
- Planning Commission, India
- Larsen & Toubro Limited - India
- Ceylon Electricity Board - Sri Lanka
- Krishnapatnam Port Company Ltd. - India
- Therma Luzon, Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Leighton Contractors Pty Ltd - Australia
- Uttam Galva Steels Limited - India
- Parliament of New Zealand
- Economic Council, Georgia
- McConnell Dowell - Australia
- Central Java Power - Indonesia
- Energy Development Corp, Philippines
- Orica Australia Pty. Ltd.
- International Coal Ventures Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- PNOC Exploration Corporation - Philippines
- Central Electricity Authority - India
- Tamil Nadu electricity Board
- PetroVietnam Power Coal Import and Supply Company
- Bhoruka Overseas - Indonesia
- Jindal Steel & Power Ltd - India
- Altura Mining Limited, Indonesia
- LBH Netherlands Bv - Netherlands
- Gujarat Mineral Development Corp Ltd - India
- Timah Investasi Mineral - Indoneisa
- Star Paper Mills Limited - India
- Gujarat Electricity Regulatory Commission - India
- Commonwealth Bank - Australia
- MS Steel International - UAE
- Kaltim Prima Coal - Indonesia
- CIMB Investment Bank - Malaysia
- Singapore Mercantile Exchange
- Banpu Public Company Limited - Thailand
- Directorate Of Revenue Intelligence - India
- Kapuas Tunggal Persada - Indonesia
- SMG Consultants - Indonesia
- Essar Steel Hazira Ltd - India
- Agrawal Coal Company - India
- Simpson Spence & Young - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Sindya Power Generating Company Private Ltd
- Chamber of Mines of South Africa
- Sinarmas Energy and Mining - Indonesia
- Ministry of Mines - Canada
- Coal and Oil Company - UAE
- Formosa Plastics Group - Taiwan
- Mercuria Energy - Indonesia
- VISA Power Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Eastern Coal Council - USA
- Standard Chartered Bank - UAE
- White Energy Company Limited
- Offshore Bulk Terminal Pte Ltd, Singapore
- Coalindo Energy - Indonesia
- Georgia Ports Authority, United States
- Africa Commodities Group - South Africa
- Savvy Resources Ltd - HongKong
- Malabar Cements Ltd - India
- Posco Energy - South Korea
- OPG Power Generation Pvt Ltd - India
- Cement Manufacturers Association - India
- Siam City Cement PLC, Thailand
- Sarangani Energy Corporation, Philippines
- Renaissance Capital - South Africa
- Mjunction Services Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mercator Lines Limited - India
- Baramulti Group, Indonesia
- Attock Cement Pakistan Limited
- Mintek Dendrill Indonesia
- Maharashtra Electricity Regulatory Commission - India
- London Commodity Brokers - England
- Petron Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Ministry of Finance - Indonesia
- Aboitiz Power Corporation - Philippines
- Bulk Trading Sa - Switzerland
- Directorate General of MIneral and Coal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Coastal Gujarat Power Limited - India
- Bayan Resources Tbk. - Indonesia
- The State Trading Corporation of India Ltd
- Power Finance Corporation Ltd., India
- Vijayanagar Sugar Pvt Ltd - India
- Bangladesh Power Developement Board
- Bhatia International Limited - India
- Wood Mackenzie - Singapore
- Ind-Barath Power Infra Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Kobexindo Tractors - Indoneisa
- Ministry of Transport, Egypt
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- Miang Besar Coal Terminal - Indonesia
- Romanian Commodities Exchange
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- Manunggal Multi Energi - Indonesia
- Grasim Industreis Ltd - India
- Vizag Seaport Private Limited - India
- Port Waratah Coal Services - Australia
- GVK Power & Infra Limited - India
- Global Business Power Corporation, Philippines
- PowerSource Philippines DevCo
- New Zealand Coal & Carbon
- Australian Coal Association
- Jorong Barutama Greston.PT - Indonesia
- Iligan Light & Power Inc, Philippines
- Goldman Sachs - Singapore
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