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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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Monday, 14 June 10
S. AFRICA BOOSTS COAL SALES TO INDIA 12%, TRADER SAYS
Bloomberg reported that, South Africa’s Richards Bay, the world’s second-biggest coal export harbor, boosted sales to India by 12 percen ...
Sunday, 13 June 10
THE FUTURES FOR THREE YEARS (2010-2012) WAS AT AROUND CAPE/US$ 29000 PER DAY & PANAMAX/US$ 20500 PER DAY - VISTAAR
COALspot.com: The market continue to soften in all sectors and the most affected was cape size which was down by 16.32 pct. The BDI was down by 14.4 ...
Saturday, 12 June 10
BALTIC EXCHANGE ESTABLISHES ASIA-PACIFIC OFFICE
The London-based Baltic Exchange has today announced it is setting up an Asia-Pacific Representative Office in Singapore, to ensure closer contact w ...
Saturday, 12 June 10
NALCO TO ROPE IN PARTNERS FOR INDONESIA PROJECT
Sify reported that, the public sector National Aluminium Company (Nalco) is set to finalise the terms of its joint venture (JV) agreement with two f ...
Thursday, 10 June 10
CHARTERERS ARE NOT WILLING TO PAY THE RATES AS MARKET SLIDES
DRY BULK
Handy
Atlantic markets are quieter (Posidonia?) with less activity. Nevertheless expect some fresh enquiries f ...
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- Metalloyd Limited - United Kingdom
- Thai Mozambique Logistica
- Port Waratah Coal Services - Australia
- London Commodity Brokers - England
- Pendopo Energi Batubara - Indonesia
- International Coal Ventures Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Semirara Mining Corp, Philippines
- Bukit Baiduri Energy - Indonesia
- Indogreen Group - Indonesia
- Bulk Trading Sa - Switzerland
- Coalindo Energy - Indonesia
- Australian Coal Association
- South Luzon Thermal Energy Corporation
- TeaM Sual Corporation - Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kartika Selabumi Mining - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Bangladesh Power Developement Board
- Toyota Tsusho Corporation, Japan
- Ministry of Finance - Indonesia
- European Bulk Services B.V. - Netherlands
- Carbofer General Trading SA - India
- Sree Jayajothi Cements Limited - India
- IEA Clean Coal Centre - UK
- Holcim Trading Pte Ltd - Singapore
- Price Waterhouse Coopers - Russia
- Pipit Mutiara Jaya. PT, Indonesia
- Sakthi Sugars Limited - India
- Straits Asia Resources Limited - Singapore
- Singapore Mercantile Exchange
- Central Java Power - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Sical Logistics Limited - India
- Attock Cement Pakistan Limited
- Power Finance Corporation Ltd., India
- Edison Trading Spa - Italy
- Essar Steel Hazira Ltd - India
- Indonesian Coal Mining Association
- Miang Besar Coal Terminal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Alfred C Toepfer International GmbH - Germany
- Oldendorff Carriers - Singapore
- Thiess Contractors Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Goldman Sachs - Singapore
- Energy Link Ltd, New Zealand
- Tata Chemicals Ltd - India
- The Treasury - Australian Government
- MS Steel International - UAE
- Gujarat Electricity Regulatory Commission - India
- Iligan Light & Power Inc, Philippines
- Orica Australia Pty. Ltd.
- Planning Commission, India
- Vedanta Resources Plc - India
- Gujarat Sidhee Cement - India
- Trasteel International SA, Italy
- CNBM International Corporation - China
- SMC Global Power, Philippines
- Karaikal Port Pvt Ltd - India
- Eastern Energy - Thailand
- Directorate General of MIneral and Coal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Petron Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Independent Power Producers Association of India
- Coal and Oil Company - UAE
- Lanco Infratech Ltd - India
- Medco Energi Mining Internasional
- McConnell Dowell - Australia
- Chettinad Cement Corporation Ltd - India
- Indo Tambangraya Megah - Indonesia
- Jindal Steel & Power Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Global Green Power PLC Corporation, Philippines
- Altura Mining Limited, Indonesia
- Ceylon Electricity Board - Sri Lanka
- Rio Tinto Coal - Australia
- Mercuria Energy - Indonesia
- Cement Manufacturers Association - India
- Commonwealth Bank - Australia
- Indika Energy - Indonesia
- Deloitte Consulting - India
- AsiaOL BioFuels Corp., Philippines
- Kalimantan Lumbung Energi - Indonesia
- Bayan Resources Tbk. - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ambuja Cements Ltd - India
- Agrawal Coal Company - India
- Economic Council, Georgia
- GMR Energy Limited - India
- Malabar Cements Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Tamil Nadu electricity Board
- Standard Chartered Bank - UAE
- Makarim & Taira - Indonesia
- Ministry of Transport, Egypt
- Antam Resourcindo - Indonesia
- India Bulls Power Limited - India
- Borneo Indobara - Indonesia
- Bharathi Cement Corporation - India
- Eastern Coal Council - USA
- Mintek Dendrill Indonesia
- SMG Consultants - Indonesia
- IHS Mccloskey Coal Group - USA
- Merrill Lynch Commodities Europe
- Aditya Birla Group - India
- The State Trading Corporation of India Ltd
- Siam City Cement PLC, Thailand
- PetroVietnam Power Coal Import and Supply Company
- Mercator Lines Limited - India
- The University of Queensland
- Star Paper Mills Limited - India
- Parliament of New Zealand
- Samtan Co., Ltd - South Korea
- Maharashtra Electricity Regulatory Commission - India
- Xindia Steels Limited - India
- Semirara Mining and Power Corporation, Philippines
- Minerals Council of Australia
- Grasim Industreis Ltd - India
- Interocean Group of Companies - India
- Savvy Resources Ltd - HongKong
- Sojitz Corporation - Japan
- Binh Thuan Hamico - Vietnam
- Africa Commodities Group - South Africa
- Dalmia Cement Bharat India
- San Jose City I Power Corp, Philippines
- Energy Development Corp, Philippines
- Simpson Spence & Young - Indonesia
- New Zealand Coal & Carbon
- OPG Power Generation Pvt Ltd - India
- Parry Sugars Refinery, India
- GAC Shipping (India) Pvt Ltd
- Kobexindo Tractors - Indoneisa
- Electricity Generating Authority of Thailand
- ICICI Bank Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Asmin Koalindo Tuhup - Indonesia
- Romanian Commodities Exchange
- Riau Bara Harum - Indonesia
- Baramulti Group, Indonesia
- Wilmar Investment Holdings
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kumho Petrochemical, South Korea
- Kapuas Tunggal Persada - Indonesia
- Madhucon Powers Ltd - India
- Barasentosa Lestari - Indonesia
- CIMB Investment Bank - Malaysia
- Rashtriya Ispat Nigam Limited - India
- Indian Energy Exchange, India
- PTC India Limited - India
- Kepco SPC Power Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Meralco Power Generation, Philippines
- Global Business Power Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Meenaskhi Energy Private Limited - India
- Jaiprakash Power Ventures ltd
- Kohat Cement Company Ltd. - Pakistan
- Siam City Cement - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- GVK Power & Infra Limited - India
- Larsen & Toubro Limited - India
- Videocon Industries ltd - India
- Globalindo Alam Lestari - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Posco Energy - South Korea
- Ind-Barath Power Infra Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Directorate Of Revenue Intelligence - India
- Central Electricity Authority - India
- Ministry of Mines - Canada
- Global Coal Blending Company Limited - Australia
- Latin American Coal - Colombia
- SN Aboitiz Power Inc, Philippines
- Anglo American - United Kingdom
- Heidelberg Cement - Germany
- VISA Power Limited - India
- Wood Mackenzie - Singapore
- Billiton Holdings Pty Ltd - Australia
- Bhatia International Limited - India
- Kideco Jaya Agung - Indonesia
- White Energy Company Limited
- TNB Fuel Sdn Bhd - Malaysia
- Orica Mining Services - Indonesia
- Bhoruka Overseas - Indonesia
- Bukit Makmur.PT - Indonesia
- Chamber of Mines of South Africa
- Therma Luzon, Inc, Philippines
- Uttam Galva Steels Limited - India
- Electricity Authority, New Zealand
- Maheswari Brothers Coal Limited - India
- Renaissance Capital - South Africa
- PowerSource Philippines DevCo
- Formosa Plastics Group - Taiwan
- Mjunction Services Limited - India
- Marubeni Corporation - India
- Sindya Power Generating Company Private Ltd
- Indian Oil Corporation Limited
- Bhushan Steel Limited - India
- Banpu Public Company Limited - Thailand
- Manunggal Multi Energi - Indonesia
- PNOC Exploration Corporation - Philippines
- Vizag Seaport Private Limited - India
- Aboitiz Power Corporation - Philippines
- ASAPP Information Group - India
- Australian Commodity Traders Exchange
- Kaltim Prima Coal - Indonesia
- Salva Resources Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Coastal Gujarat Power Limited - India
- Georgia Ports Authority, United States
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