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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, 23 June 10
WILHELMSEN SHIPS SERVICE OPENS NEW OFFICE IN KRISHNAPATNAM PORT INDIA
Wilhelmsen Ships Service has opened a branch office in Krishnapatnam port on the east coast of India according to statement released by company ...
Wednesday, 23 June 10
PTC'S INDONESIAN COAL-MINING FORAY-I: TO INVEST USD 69 MILLION VIA OVERSEAS SPV
Moving ahead with its plans to acquire coal assets abroad, the power trading major, PTC India Limited, has decided to invest a total of USD 69 milli ...
Tuesday, 22 June 10
INDIA HAS REPORTED MORE COAL IMPORTS FROM COLOMBIA
A second consecutive week of sharp corrections for the dry bulk market, although some of the softness could be attributed to Chinese holidays at the ...
Monday, 21 June 10
THE SUPRAMAX INDEX IN THE FAR-EAST (S6 ROUTE) WAS DOWN BY $ 1300 PER DAY - VISTAAR
COALspot.com: The market continued to soften in all sectors last week also with the BDI dropping by 18.07 pct and Cape index by 26.71 pct.
The BD ...
Sunday, 20 June 10
OUR COAL: ITS DEVELOPMENT AND CONTROVERSIAL ISSUES
Indonesia’s production of coal has been growing amazingly. In the mid 1980s, national coal production was less than 1 million tons per annum, ...
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- Bhatia International Limited - India
- Karaikal Port Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Holcim Trading Pte Ltd - Singapore
- Chamber of Mines of South Africa
- Meenaskhi Energy Private Limited - India
- Vedanta Resources Plc - India
- Coalindo Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Straits Asia Resources Limited - Singapore
- Directorate Of Revenue Intelligence - India
- Siam City Cement - Thailand
- Kartika Selabumi Mining - Indonesia
- India Bulls Power Limited - India
- Mintek Dendrill Indonesia
- Tamil Nadu electricity Board
- Leighton Contractors Pty Ltd - Australia
- Maheswari Brothers Coal Limited - India
- Barasentosa Lestari - Indonesia
- Madhucon Powers Ltd - India
- Timah Investasi Mineral - Indoneisa
- Indogreen Group - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Makarim & Taira - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Electricity Authority, New Zealand
- Ministry of Mines - Canada
- IEA Clean Coal Centre - UK
- South Luzon Thermal Energy Corporation
- Indo Tambangraya Megah - Indonesia
- Commonwealth Bank - Australia
- Sakthi Sugars Limited - India
- Uttam Galva Steels Limited - India
- Indonesian Coal Mining Association
- Vijayanagar Sugar Pvt Ltd - India
- Minerals Council of Australia
- Medco Energi Mining Internasional
- Asmin Koalindo Tuhup - Indonesia
- Price Waterhouse Coopers - Russia
- Savvy Resources Ltd - HongKong
- Thiess Contractors Indonesia
- Wilmar Investment Holdings
- Siam City Cement PLC, Thailand
- San Jose City I Power Corp, Philippines
- Indian Oil Corporation Limited
- GMR Energy Limited - India
- Tata Chemicals Ltd - India
- Xindia Steels Limited - India
- Toyota Tsusho Corporation, Japan
- Gujarat Mineral Development Corp Ltd - India
- Vizag Seaport Private Limited - India
- Agrawal Coal Company - India
- Karbindo Abesyapradhi - Indoneisa
- Jaiprakash Power Ventures ltd
- Ceylon Electricity Board - Sri Lanka
- ICICI Bank Limited - India
- PTC India Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Essar Steel Hazira Ltd - India
- Heidelberg Cement - Germany
- Malabar Cements Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Dalmia Cement Bharat India
- Cigading International Bulk Terminal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Energy Development Corp, Philippines
- Trasteel International SA, Italy
- Formosa Plastics Group - Taiwan
- Goldman Sachs - Singapore
- TeaM Sual Corporation - Philippines
- Kapuas Tunggal Persada - Indonesia
- Bangladesh Power Developement Board
- Altura Mining Limited, Indonesia
- Sical Logistics Limited - India
- Central Electricity Authority - India
- Bukit Baiduri Energy - Indonesia
- Larsen & Toubro Limited - India
- Renaissance Capital - South Africa
- Pendopo Energi Batubara - Indonesia
- GVK Power & Infra Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ambuja Cements Ltd - India
- Indika Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Australian Commodity Traders Exchange
- Romanian Commodities Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Grasim Industreis Ltd - India
- Semirara Mining Corp, Philippines
- GAC Shipping (India) Pvt Ltd
- Chettinad Cement Corporation Ltd - India
- London Commodity Brokers - England
- Maharashtra Electricity Regulatory Commission - India
- Samtan Co., Ltd - South Korea
- Antam Resourcindo - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Latin American Coal - Colombia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indian Energy Exchange, India
- Sojitz Corporation - Japan
- Deloitte Consulting - India
- Petrochimia International Co. Ltd.- Taiwan
- Iligan Light & Power Inc, Philippines
- Rio Tinto Coal - Australia
- Power Finance Corporation Ltd., India
- Jorong Barutama Greston.PT - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Thai Mozambique Logistica
- Merrill Lynch Commodities Europe
- IHS Mccloskey Coal Group - USA
- Port Waratah Coal Services - Australia
- Kalimantan Lumbung Energi - Indonesia
- Planning Commission, India
- Kideco Jaya Agung - Indonesia
- Parry Sugars Refinery, India
- Anglo American - United Kingdom
- PowerSource Philippines DevCo
- Australian Coal Association
- Cement Manufacturers Association - India
- Africa Commodities Group - South Africa
- Bukit Asam (Persero) Tbk - Indonesia
- Banpu Public Company Limited - Thailand
- Semirara Mining and Power Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- The State Trading Corporation of India Ltd
- Kobexindo Tractors - Indoneisa
- Ministry of Transport, Egypt
- Neyveli Lignite Corporation Ltd, - India
- ASAPP Information Group - India
- Petron Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Kumho Petrochemical, South Korea
- LBH Netherlands Bv - Netherlands
- Carbofer General Trading SA - India
- Mercator Lines Limited - India
- Bayan Resources Tbk. - Indonesia
- Economic Council, Georgia
- Sindya Power Generating Company Private Ltd
- CNBM International Corporation - China
- Orica Mining Services - Indonesia
- Standard Chartered Bank - UAE
- Globalindo Alam Lestari - Indonesia
- Mjunction Services Limited - India
- Coastal Gujarat Power Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Interocean Group of Companies - India
- McConnell Dowell - Australia
- International Coal Ventures Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Energy Link Ltd, New Zealand
- Parliament of New Zealand
- Mercuria Energy - Indonesia
- Bhushan Steel Limited - India
- Binh Thuan Hamico - Vietnam
- SN Aboitiz Power Inc, Philippines
- Lanco Infratech Ltd - India
- SMC Global Power, Philippines
- Krishnapatnam Port Company Ltd. - India
- Posco Energy - South Korea
- Kepco SPC Power Corporation, Philippines
- Georgia Ports Authority, United States
- Intertek Mineral Services - Indonesia
- Therma Luzon, Inc, Philippines
- Bhoruka Overseas - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- OPG Power Generation Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Bharathi Cement Corporation - India
- White Energy Company Limited
- Wood Mackenzie - Singapore
- MS Steel International - UAE
- Kaltim Prima Coal - Indonesia
- Independent Power Producers Association of India
- Star Paper Mills Limited - India
- Singapore Mercantile Exchange
- Videocon Industries ltd - India
- Sinarmas Energy and Mining - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- CIMB Investment Bank - Malaysia
- Electricity Generating Authority of Thailand
- Manunggal Multi Energi - Indonesia
- Gujarat Sidhee Cement - India
- PNOC Exploration Corporation - Philippines
- Aboitiz Power Corporation - Philippines
- Directorate General of MIneral and Coal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ministry of Finance - Indonesia
- Central Java Power - Indonesia
- Aditya Birla Group - India
- TNB Fuel Sdn Bhd - Malaysia
- Global Business Power Corporation, Philippines
- Borneo Indobara - Indonesia
- Marubeni Corporation - India
- Coal and Oil Company - UAE
- Global Green Power PLC Corporation, Philippines
- Riau Bara Harum - Indonesia
- Oldendorff Carriers - Singapore
- SMG Consultants - Indonesia
- Sarangani Energy Corporation, Philippines
- Bulk Trading Sa - Switzerland
- VISA Power Limited - India
- Meralco Power Generation, Philippines
- Global Coal Blending Company Limited - Australia
- New Zealand Coal & Carbon
- Ind-Barath Power Infra Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Bukit Makmur.PT - Indonesia
- Attock Cement Pakistan Limited
- Baramulti Group, Indonesia
- The University of Queensland
- Eastern Coal Council - USA
- The Treasury - Australian Government
- Jindal Steel & Power Ltd - India
- Eastern Energy - Thailand
- AsiaOL BioFuels Corp., Philippines
- Edison Trading Spa - Italy
- Sree Jayajothi Cements Limited - India
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