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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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Wednesday, 30 June 10
U.S. STEAM COAL EXPORTS TO SUPPORT FREIGHT RATES
Booming North American coal exports to China, driven by the country's insatiable need for steel raw materials, will provide support to freight rate ...
Tuesday, 29 June 10
EXPORT LETTER OF CREDIT PLAN DUMPED - THE JAKARTA GLOBE
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Tuesday, 29 June 10
DRY BULK'S DOWNFALL FINALLY SHOWING SIGNS OF STABILIZATION
Although the dry bulk market has begun the week where it left off, that is on a downward note, brokers and charterers appear to be on the consensus ...
Monday, 28 June 10
REVISIONS SHOULD AIM MINERAL AND COAL LAW
VIVAnews reported that, the Consortium of Mineral, Coal and Geothermal-Producing Regional Governments (Minerbapabum) is asking the government to per ...
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- Singapore Mercantile Exchange
- Directorate Of Revenue Intelligence - India
- PTC India Limited - India
- Aditya Birla Group - India
- Goldman Sachs - Singapore
- TeaM Sual Corporation - Philippines
- Videocon Industries ltd - India
- Manunggal Multi Energi - Indonesia
- Eastern Coal Council - USA
- Sindya Power Generating Company Private Ltd
- Ambuja Cements Ltd - India
- Oldendorff Carriers - Singapore
- Africa Commodities Group - South Africa
- Billiton Holdings Pty Ltd - Australia
- Straits Asia Resources Limited - Singapore
- Eastern Energy - Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Tamil Nadu electricity Board
- Tata Chemicals Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Central Java Power - Indonesia
- Cigading International Bulk Terminal - Indonesia
- McConnell Dowell - Australia
- Rio Tinto Coal - Australia
- Indian Energy Exchange, India
- Deloitte Consulting - India
- Anglo American - United Kingdom
- Vizag Seaport Private Limited - India
- Latin American Coal - Colombia
- PNOC Exploration Corporation - Philippines
- Formosa Plastics Group - Taiwan
- Sojitz Corporation - Japan
- Marubeni Corporation - India
- Siam City Cement PLC, Thailand
- Ministry of Transport, Egypt
- Intertek Mineral Services - Indonesia
- Indian Oil Corporation Limited
- TNB Fuel Sdn Bhd - Malaysia
- Edison Trading Spa - Italy
- Wilmar Investment Holdings
- Medco Energi Mining Internasional
- IHS Mccloskey Coal Group - USA
- Mercator Lines Limited - India
- European Bulk Services B.V. - Netherlands
- Vedanta Resources Plc - India
- Banpu Public Company Limited - Thailand
- Bukit Makmur.PT - Indonesia
- Sical Logistics Limited - India
- Australian Commodity Traders Exchange
- Lanco Infratech Ltd - India
- Aboitiz Power Corporation - Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Kaltim Prima Coal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Merrill Lynch Commodities Europe
- Mintek Dendrill Indonesia
- Central Electricity Authority - India
- Gujarat Electricity Regulatory Commission - India
- Electricity Generating Authority of Thailand
- Agrawal Coal Company - India
- Karaikal Port Pvt Ltd - India
- Georgia Ports Authority, United States
- Bhoruka Overseas - Indonesia
- London Commodity Brokers - England
- Bank of Tokyo Mitsubishi UFJ Ltd
- Uttam Galva Steels Limited - India
- Chettinad Cement Corporation Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Borneo Indobara - Indonesia
- Coastal Gujarat Power Limited - India
- Savvy Resources Ltd - HongKong
- Parliament of New Zealand
- Price Waterhouse Coopers - Russia
- Trasteel International SA, Italy
- Kideco Jaya Agung - Indonesia
- Maheswari Brothers Coal Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Mercuria Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Essar Steel Hazira Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Timah Investasi Mineral - Indoneisa
- Toyota Tsusho Corporation, Japan
- Kobexindo Tractors - Indoneisa
- Australian Coal Association
- Posco Energy - South Korea
- Pipit Mutiara Jaya. PT, Indonesia
- Neyveli Lignite Corporation Ltd, - India
- San Jose City I Power Corp, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Renaissance Capital - South Africa
- GAC Shipping (India) Pvt Ltd
- Therma Luzon, Inc, Philippines
- Energy Link Ltd, New Zealand
- Altura Mining Limited, Indonesia
- Global Green Power PLC Corporation, Philippines
- Independent Power Producers Association of India
- Xindia Steels Limited - India
- Meenaskhi Energy Private Limited - India
- Orica Mining Services - Indonesia
- Bulk Trading Sa - Switzerland
- The University of Queensland
- GMR Energy Limited - India
- Kepco SPC Power Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Simpson Spence & Young - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Carbofer General Trading SA - India
- GN Power Mariveles Coal Plant, Philippines
- International Coal Ventures Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- ASAPP Information Group - India
- Port Waratah Coal Services - Australia
- Minerals Council of Australia
- Bukit Asam (Persero) Tbk - Indonesia
- The State Trading Corporation of India Ltd
- Jorong Barutama Greston.PT - Indonesia
- Kumho Petrochemical, South Korea
- CIMB Investment Bank - Malaysia
- Indogreen Group - Indonesia
- Indika Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Meralco Power Generation, Philippines
- IEA Clean Coal Centre - UK
- PowerSource Philippines DevCo
- Mjunction Services Limited - India
- Bharathi Cement Corporation - India
- Madhucon Powers Ltd - India
- Coal and Oil Company - UAE
- Grasim Industreis Ltd - India
- Sarangani Energy Corporation, Philippines
- Thiess Contractors Indonesia
- White Energy Company Limited
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- ICICI Bank Limited - India
- Sinarmas Energy and Mining - Indonesia
- Bukit Baiduri Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Bangladesh Power Developement Board
- VISA Power Limited - India
- Bayan Resources Tbk. - Indonesia
- Planning Commission, India
- Semirara Mining Corp, Philippines
- Larsen & Toubro Limited - India
- SN Aboitiz Power Inc, Philippines
- Sakthi Sugars Limited - India
- Jaiprakash Power Ventures ltd
- India Bulls Power Limited - India
- Romanian Commodities Exchange
- Semirara Mining and Power Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Star Paper Mills Limited - India
- Cement Manufacturers Association - India
- Antam Resourcindo - Indonesia
- Sree Jayajothi Cements Limited - India
- Coalindo Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- LBH Netherlands Bv - Netherlands
- Maharashtra Electricity Regulatory Commission - India
- Jindal Steel & Power Ltd - India
- MS Steel International - UAE
- Binh Thuan Hamico - Vietnam
- Offshore Bulk Terminal Pte Ltd, Singapore
- Chamber of Mines of South Africa
- Krishnapatnam Port Company Ltd. - India
- Pendopo Energi Batubara - Indonesia
- Ministry of Finance - Indonesia
- Salva Resources Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Baramulti Group, Indonesia
- Siam City Cement - Thailand
- Bhatia International Limited - India
- Gujarat Sidhee Cement - India
- Standard Chartered Bank - UAE
- Orica Australia Pty. Ltd.
- CNBM International Corporation - China
- Energy Development Corp, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Barasentosa Lestari - Indonesia
- Dalmia Cement Bharat India
- Ind-Barath Power Infra Limited - India
- AsiaOL BioFuels Corp., Philippines
- Directorate General of MIneral and Coal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Attock Cement Pakistan Limited
- Economic Council, Georgia
- Samtan Co., Ltd - South Korea
- Bhushan Steel Limited - India
- Thai Mozambique Logistica
- Electricity Authority, New Zealand
- Riau Bara Harum - Indonesia
- Global Business Power Corporation, Philippines
- SMC Global Power, Philippines
- Indonesian Coal Mining Association
- Metalloyd Limited - United Kingdom
- Interocean Group of Companies - India
- Rashtriya Ispat Nigam Limited - India
- Petron Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Wood Mackenzie - Singapore
- SMG Consultants - Indonesia
- Power Finance Corporation Ltd., India
- Parry Sugars Refinery, India
- Global Coal Blending Company Limited - Australia
- Heidelberg Cement - Germany
- GVK Power & Infra Limited - India
- Ministry of Mines - Canada
- Malabar Cements Ltd - India
- South Luzon Thermal Energy Corporation
- Commonwealth Bank - Australia
- The Treasury - Australian Government
- Iligan Light & Power Inc, Philippines
- New Zealand Coal & Carbon
- Makarim & Taira - Indonesia
- OPG Power Generation Pvt Ltd - India
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