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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, 25 June 10
INDIAS THIRD-LARGEST SHIPPING COMPANY BAGS US$ 31 MILLION DEAL WITH SL
Daily Mirror reported that, Mainboard-listed and India-owned dry bulk shipping firm Mercator Lines says it has won a US$ 31 million contract in Sri ...
Friday, 25 June 10
DEMAND FOR COAL COULD BE GRADUALLY RETURNING - FEARNBULK
Handy
Atlantic markets seeing more activity today (23 June 2010) after a slump the last weeks. Supramax vessels open in USG are achieving low/mid ...
Thursday, 24 June 10
INDONESIAS BUMI DECLARED US$ 57.1 MILLION (AMOUNTING TO 30% OF 2009 NET INCOME) AS DIVIDEND
COALspot.com: PT Bumi Resources, Tbk’s Annual General Meeting (AGM) today was successfully held with a quorum of 75.89% resulting in sharehold ...
Thursday, 24 June 10
CHINA TARGETS 3.6 BILLION MT ANNUAL COAL OUTPUT FOR 2015
At a forum in Beijing entitled "Chinese energy strategy and energy development in the 12th five-year plan period (2011-2015)", He Youguo, ...
Thursday, 24 June 10
DRY BULK MARKET AT LOWEST POINT IN EIGHT MONTHS
The dry bulk market’s demise has failed to turn around so far this week, with the industry’s benchmark, the Baltic Dry Index (BDI), yest ...
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- Grasim Industreis Ltd - India
- AsiaOL BioFuels Corp., Philippines
- India Bulls Power Limited - India
- San Jose City I Power Corp, Philippines
- Bukit Baiduri Energy - Indonesia
- SMC Global Power, Philippines
- Wood Mackenzie - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Mintek Dendrill Indonesia
- Aditya Birla Group - India
- Tata Chemicals Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Coastal Gujarat Power Limited - India
- Kepco SPC Power Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Ministry of Mines - Canada
- Larsen & Toubro Limited - India
- Tamil Nadu electricity Board
- Indonesian Coal Mining Association
- Sarangani Energy Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Parliament of New Zealand
- Mercator Lines Limited - India
- Petron Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Renaissance Capital - South Africa
- Sakthi Sugars Limited - India
- Georgia Ports Authority, United States
- Karbindo Abesyapradhi - Indoneisa
- Global Coal Blending Company Limited - Australia
- The Treasury - Australian Government
- Ceylon Electricity Board - Sri Lanka
- MS Steel International - UAE
- Intertek Mineral Services - Indonesia
- Aboitiz Power Corporation - Philippines
- Maharashtra Electricity Regulatory Commission - India
- Electricity Generating Authority of Thailand
- Anglo American - United Kingdom
- Latin American Coal - Colombia
- Xindia Steels Limited - India
- Altura Mining Limited, Indonesia
- Uttam Galva Steels Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Eastern Energy - Thailand
- Dalmia Cement Bharat India
- Standard Chartered Bank - UAE
- Planning Commission, India
- Metalloyd Limited - United Kingdom
- Barasentosa Lestari - Indonesia
- Attock Cement Pakistan Limited
- Binh Thuan Hamico - Vietnam
- Central Java Power - Indonesia
- Savvy Resources Ltd - HongKong
- Eastern Coal Council - USA
- Neyveli Lignite Corporation Ltd, - India
- Australian Coal Association
- Ind-Barath Power Infra Limited - India
- South Luzon Thermal Energy Corporation
- Star Paper Mills Limited - India
- Borneo Indobara - Indonesia
- Edison Trading Spa - Italy
- Ambuja Cements Ltd - India
- Bhoruka Overseas - Indonesia
- Maheswari Brothers Coal Limited - India
- GVK Power & Infra Limited - India
- Directorate Of Revenue Intelligence - India
- Goldman Sachs - Singapore
- Kaltim Prima Coal - Indonesia
- Indogreen Group - Indonesia
- Energy Development Corp, Philippines
- Independent Power Producers Association of India
- Port Waratah Coal Services - Australia
- Deloitte Consulting - India
- OPG Power Generation Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Miang Besar Coal Terminal - Indonesia
- Wilmar Investment Holdings
- Orica Australia Pty. Ltd.
- Bulk Trading Sa - Switzerland
- ICICI Bank Limited - India
- Commonwealth Bank - Australia
- Globalindo Alam Lestari - Indonesia
- Sical Logistics Limited - India
- Malabar Cements Ltd - India
- Indian Oil Corporation Limited
- VISA Power Limited - India
- IHS Mccloskey Coal Group - USA
- Bangladesh Power Developement Board
- TNB Fuel Sdn Bhd - Malaysia
- Iligan Light & Power Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Toyota Tsusho Corporation, Japan
- Global Business Power Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Siam City Cement PLC, Thailand
- Oldendorff Carriers - Singapore
- Makarim & Taira - Indonesia
- TeaM Sual Corporation - Philippines
- Chamber of Mines of South Africa
- Mercuria Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Offshore Bulk Terminal Pte Ltd, Singapore
- Asmin Koalindo Tuhup - Indonesia
- Bharathi Cement Corporation - India
- Leighton Contractors Pty Ltd - Australia
- Vijayanagar Sugar Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Gujarat Electricity Regulatory Commission - India
- Manunggal Multi Energi - Indonesia
- Interocean Group of Companies - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- The University of Queensland
- Kumho Petrochemical, South Korea
- PowerSource Philippines DevCo
- European Bulk Services B.V. - Netherlands
- Bhatia International Limited - India
- PNOC Exploration Corporation - Philippines
- Bahari Cakrawala Sebuku - Indonesia
- LBH Netherlands Bv - Netherlands
- Baramulti Group, Indonesia
- New Zealand Coal & Carbon
- Heidelberg Cement - Germany
- Kapuas Tunggal Persada - Indonesia
- International Coal Ventures Pvt Ltd - India
- GMR Energy Limited - India
- Lanco Infratech Ltd - India
- Ministry of Finance - Indonesia
- Coalindo Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- Carbofer General Trading SA - India
- Marubeni Corporation - India
- Central Electricity Authority - India
- Australian Commodity Traders Exchange
- Cigading International Bulk Terminal - Indonesia
- Straits Asia Resources Limited - Singapore
- Vedanta Resources Plc - India
- Indian Energy Exchange, India
- Kartika Selabumi Mining - Indonesia
- Formosa Plastics Group - Taiwan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Thiess Contractors Indonesia
- Sree Jayajothi Cements Limited - India
- Videocon Industries ltd - India
- Medco Energi Mining Internasional
- Pipit Mutiara Jaya. PT, Indonesia
- Therma Luzon, Inc, Philippines
- Mjunction Services Limited - India
- Chettinad Cement Corporation Ltd - India
- Antam Resourcindo - Indonesia
- Samtan Co., Ltd - South Korea
- Semirara Mining and Power Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Agrawal Coal Company - India
- Singapore Mercantile Exchange
- Essar Steel Hazira Ltd - India
- IEA Clean Coal Centre - UK
- Power Finance Corporation Ltd., India
- Indika Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Bhushan Steel Limited - India
- Economic Council, Georgia
- London Commodity Brokers - England
- Semirara Mining Corp, Philippines
- Bukit Makmur.PT - Indonesia
- CNBM International Corporation - China
- White Energy Company Limited
- Madhucon Powers Ltd - India
- Banpu Public Company Limited - Thailand
- Sinarmas Energy and Mining - Indonesia
- Africa Commodities Group - South Africa
- SMG Consultants - Indonesia
- Global Green Power PLC Corporation, Philippines
- Minerals Council of Australia
- McConnell Dowell - Australia
- The State Trading Corporation of India Ltd
- Romanian Commodities Exchange
- Alfred C Toepfer International GmbH - Germany
- Jindal Steel & Power Ltd - India
- Electricity Authority, New Zealand
- Ministry of Transport, Egypt
- Riau Bara Harum - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Orica Mining Services - Indonesia
- Kideco Jaya Agung - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Gujarat Sidhee Cement - India
- Timah Investasi Mineral - Indoneisa
- Posco Energy - South Korea
- Salva Resources Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Rio Tinto Coal - Australia
- Indo Tambangraya Megah - Indonesia
- ASAPP Information Group - India
- Kobexindo Tractors - Indoneisa
- PTC India Limited - India
- Sojitz Corporation - Japan
- Thai Mozambique Logistica
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Parry Sugars Refinery, India
- Coal and Oil Company - UAE
- Trasteel International SA, Italy
- Directorate General of MIneral and Coal - Indonesia
- Cement Manufacturers Association - India
- Bukit Asam (Persero) Tbk - Indonesia
- Merrill Lynch Commodities Europe
- Jaiprakash Power Ventures ltd
- Siam City Cement - Thailand
- Meralco Power Generation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Karaikal Port Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Simpson Spence & Young - Indonesia
- SN Aboitiz Power Inc, Philippines
- Energy Link Ltd, New Zealand
- Billiton Holdings Pty Ltd - Australia
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