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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, 02 July 10
MINERALS RESOURCE TAXATION IN AUSTRALIA - PRESS RELEASE
Press Release : Rio Tinto acknowledges the Australian Government’s announcement that the Resource Super Profits Tax (RSPT) proposal will be re ...
Thursday, 01 July 10
TATA POWER TO RAISE US$300 MILLION THROUGH ITS COAL SPVS TO FUND ADDITIONAL ACQUISITIONS AND / OR REDUCE OUTSTANDING DEBT
Stock Markets Review reported that, Tata Power, India’s largest private power player has signed an agreement to raise US$300 million in Bhira ...
Thursday, 01 July 10
HELLENIC SHIPPING NEWS POLL: THE BDI WILL STAY ABOVE 3,000 POINTS IN THE SECOND HALF OF 2010
When Hellenic Shipping News Worldwide prepared June’s poll asking readers about where do they think that the Baltic Dry Index (BDI) will range ...
Thursday, 01 July 10
PANAMAX MARKETS CONTINUE TO DROP IN ALL BASINS - FEARNLEYS
Handy
Atlantic rates continue to slide with little activity. Supras open in USG get low 30´s to Med and mid 40´s to FEast. Hmax/Supra ...
Wednesday, 30 June 10
PTBA TO SUPPLY ADDITIONAL 180 MLN TONS OF COAL TO PLN FOR 20 YEARS
COALspot.com: Indonesia's state-owned coal mining company PT Tambang Batubara Bukit Asam Tbk (PTBA) has entered into a new contract with state owne ...
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- Coalindo Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Altura Mining Limited, Indonesia
- Gujarat Electricity Regulatory Commission - India
- Borneo Indobara - Indonesia
- CIMB Investment Bank - Malaysia
- Independent Power Producers Association of India
- Jindal Steel & Power Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Grasim Industreis Ltd - India
- Savvy Resources Ltd - HongKong
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- TeaM Sual Corporation - Philippines
- Salva Resources Pvt Ltd - India
- CNBM International Corporation - China
- The State Trading Corporation of India Ltd
- Karaikal Port Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Makarim & Taira - Indonesia
- Mercator Lines Limited - India
- Central Electricity Authority - India
- Directorate General of MIneral and Coal - Indonesia
- Mercuria Energy - Indonesia
- Videocon Industries ltd - India
- ICICI Bank Limited - India
- Xindia Steels Limited - India
- Indo Tambangraya Megah - Indonesia
- Parliament of New Zealand
- Planning Commission, India
- Port Waratah Coal Services - Australia
- Star Paper Mills Limited - India
- Coal and Oil Company - UAE
- SMG Consultants - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Sarangani Energy Corporation, Philippines
- McConnell Dowell - Australia
- Bayan Resources Tbk. - Indonesia
- Timah Investasi Mineral - Indoneisa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Romanian Commodities Exchange
- Gujarat Mineral Development Corp Ltd - India
- SN Aboitiz Power Inc, Philippines
- MS Steel International - UAE
- Malabar Cements Ltd - India
- Petron Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Australian Coal Association
- Sree Jayajothi Cements Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Mjunction Services Limited - India
- Straits Asia Resources Limited - Singapore
- Sinarmas Energy and Mining - Indonesia
- Baramulti Group, Indonesia
- Holcim Trading Pte Ltd - Singapore
- Wilmar Investment Holdings
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Global Business Power Corporation, Philippines
- Merrill Lynch Commodities Europe
- Kaltim Prima Coal - Indonesia
- Ministry of Finance - Indonesia
- Lanco Infratech Ltd - India
- Aditya Birla Group - India
- Thiess Contractors Indonesia
- Kobexindo Tractors - Indoneisa
- Singapore Mercantile Exchange
- Sakthi Sugars Limited - India
- Wood Mackenzie - Singapore
- Directorate Of Revenue Intelligence - India
- Binh Thuan Hamico - Vietnam
- LBH Netherlands Bv - Netherlands
- Indian Oil Corporation Limited
- Iligan Light & Power Inc, Philippines
- New Zealand Coal & Carbon
- Goldman Sachs - Singapore
- Bulk Trading Sa - Switzerland
- Aboitiz Power Corporation - Philippines
- Latin American Coal - Colombia
- Samtan Co., Ltd - South Korea
- Bahari Cakrawala Sebuku - Indonesia
- Semirara Mining Corp, Philippines
- Bhoruka Overseas - Indonesia
- Indian Energy Exchange, India
- Riau Bara Harum - Indonesia
- Banpu Public Company Limited - Thailand
- Parry Sugars Refinery, India
- Posco Energy - South Korea
- Bukit Makmur.PT - Indonesia
- Energy Link Ltd, New Zealand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Vizag Seaport Private Limited - India
- Neyveli Lignite Corporation Ltd, - India
- PNOC Exploration Corporation - Philippines
- Ambuja Cements Ltd - India
- Bhatia International Limited - India
- PowerSource Philippines DevCo
- Trasteel International SA, Italy
- Tamil Nadu electricity Board
- GN Power Mariveles Coal Plant, Philippines
- Global Green Power PLC Corporation, Philippines
- Kumho Petrochemical, South Korea
- Krishnapatnam Port Company Ltd. - India
- Ind-Barath Power Infra Limited - India
- Thai Mozambique Logistica
- Maheswari Brothers Coal Limited - India
- IHS Mccloskey Coal Group - USA
- International Coal Ventures Pvt Ltd - India
- Ministry of Transport, Egypt
- Tata Chemicals Ltd - India
- The Treasury - Australian Government
- Indika Energy - Indonesia
- Medco Energi Mining Internasional
- Standard Chartered Bank - UAE
- Oldendorff Carriers - Singapore
- Anglo American - United Kingdom
- PetroVietnam Power Coal Import and Supply Company
- Metalloyd Limited - United Kingdom
- Kideco Jaya Agung - Indonesia
- Bhushan Steel Limited - India
- Global Coal Blending Company Limited - Australia
- Meenaskhi Energy Private Limited - India
- Marubeni Corporation - India
- Petrochimia International Co. Ltd.- Taiwan
- The University of Queensland
- Vedanta Resources Plc - India
- Antam Resourcindo - Indonesia
- Rio Tinto Coal - Australia
- AsiaOL BioFuels Corp., Philippines
- SMC Global Power, Philippines
- Sical Logistics Limited - India
- Power Finance Corporation Ltd., India
- Coastal Gujarat Power Limited - India
- GMR Energy Limited - India
- Eastern Coal Council - USA
- Alfred C Toepfer International GmbH - Germany
- South Luzon Thermal Energy Corporation
- Bangladesh Power Developement Board
- Bharathi Cement Corporation - India
- Larsen & Toubro Limited - India
- Electricity Authority, New Zealand
- Minerals Council of Australia
- Central Java Power - Indonesia
- Commonwealth Bank - Australia
- Deloitte Consulting - India
- London Commodity Brokers - England
- Economic Council, Georgia
- Bukit Asam (Persero) Tbk - Indonesia
- Interocean Group of Companies - India
- Bukit Baiduri Energy - Indonesia
- Georgia Ports Authority, United States
- Essar Steel Hazira Ltd - India
- Madhucon Powers Ltd - India
- OPG Power Generation Pvt Ltd - India
- Siam City Cement - Thailand
- Rashtriya Ispat Nigam Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Orica Mining Services - Indonesia
- PTC India Limited - India
- GVK Power & Infra Limited - India
- Sindya Power Generating Company Private Ltd
- Siam City Cement PLC, Thailand
- Indogreen Group - Indonesia
- Africa Commodities Group - South Africa
- Agrawal Coal Company - India
- Formosa Plastics Group - Taiwan
- Cement Manufacturers Association - India
- Leighton Contractors Pty Ltd - Australia
- Heidelberg Cement - Germany
- Manunggal Multi Energi - Indonesia
- Eastern Energy - Thailand
- Ministry of Mines - Canada
- GAC Shipping (India) Pvt Ltd
- Indonesian Coal Mining Association
- Semirara Mining and Power Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Renaissance Capital - South Africa
- Carbofer General Trading SA - India
- Therma Luzon, Inc, Philippines
- Sojitz Corporation - Japan
- Kapuas Tunggal Persada - Indonesia
- Gujarat Sidhee Cement - India
- Meralco Power Generation, Philippines
- Kartika Selabumi Mining - Indonesia
- Chamber of Mines of South Africa
- Australian Commodity Traders Exchange
- White Energy Company Limited
- Orica Australia Pty. Ltd.
- San Jose City I Power Corp, Philippines
- Chettinad Cement Corporation Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Edison Trading Spa - Italy
- IEA Clean Coal Centre - UK
- Pendopo Energi Batubara - Indonesia
- Dalmia Cement Bharat India
- Barasentosa Lestari - Indonesia
- Intertek Mineral Services - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Electricity Generating Authority of Thailand
- Uttam Galva Steels Limited - India
- Cigading International Bulk Terminal - Indonesia
- Attock Cement Pakistan Limited
- Mintek Dendrill Indonesia
- Asmin Koalindo Tuhup - Indonesia
- India Bulls Power Limited - India
- Energy Development Corp, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Toyota Tsusho Corporation, Japan
- ASAPP Information Group - India
- Globalindo Alam Lestari - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Jaiprakash Power Ventures ltd
- VISA Power Limited - India
- Kepco SPC Power Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Simpson Spence & Young - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
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