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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, 19 May 10
DRY BULK FREIGHT RATES' RALLY MAY BE SET TO END
The Baltic Dry Index (BDI) has rallied these past couple of weeks, almost touching the 4,000 point mark. But this positive development for dry bulk ...
Wednesday, 19 May 10
NEWCASTLE WEEKLY EXPORTS RISE; SHIP QUEUE LENGTHENS
Coal shipments from Australia's Newcastle port, the world's biggest export harbor for the fuel used in power stations, rose 2.9 percent last week ...
Tuesday, 18 May 10
THE BDI HIT A FIVE-MONTH HIGH AT THE CLOSE OF LAST WEEK
According to BRS, One of the oldest ship broker, at 3,929 points, the BDI hit a five-month high at the close of last week. The Capesize four time ch ...
Tuesday, 18 May 10
COAL TRADER CHINA QINFA TO BUY TWO BULK CARRIERS FOR 69 MLN USD
China Qinfa Group, a leading non-State-owned coal trader on China's mainland, said Sunday it had signed shipbuilding contracts to pay 69 million U. ...
Monday, 17 May 10
INDONESIA SHIPPED 15.51 PERCENT LESS COAL IN APRIL THAN A MONTH EARLIER
COALspot.com: Indonesia, the world largest coal exporter, shipped 23,331,542 MT of coal in April 2010, compare to 27.61 million tons in ...
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- Bukit Baiduri Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Formosa Plastics Group - Taiwan
- Attock Cement Pakistan Limited
- Gujarat Mineral Development Corp Ltd - India
- Energy Development Corp, Philippines
- SMC Global Power, Philippines
- Sree Jayajothi Cements Limited - India
- Antam Resourcindo - Indonesia
- CIMB Investment Bank - Malaysia
- Marubeni Corporation - India
- Neyveli Lignite Corporation Ltd, - India
- Barasentosa Lestari - Indonesia
- Vedanta Resources Plc - India
- Baramulti Group, Indonesia
- Star Paper Mills Limited - India
- VISA Power Limited - India
- Port Waratah Coal Services - Australia
- Edison Trading Spa - Italy
- Semirara Mining and Power Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Mercuria Energy - Indonesia
- Altura Mining Limited, Indonesia
- Oldendorff Carriers - Singapore
- Indian Energy Exchange, India
- Sindya Power Generating Company Private Ltd
- McConnell Dowell - Australia
- The Treasury - Australian Government
- South Luzon Thermal Energy Corporation
- Indogreen Group - Indonesia
- Ministry of Finance - Indonesia
- Borneo Indobara - Indonesia
- Indika Energy - Indonesia
- Posco Energy - South Korea
- Medco Energi Mining Internasional
- White Energy Company Limited
- Eastern Energy - Thailand
- Bhatia International Limited - India
- Holcim Trading Pte Ltd - Singapore
- TeaM Sual Corporation - Philippines
- Grasim Industreis Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Uttam Galva Steels Limited - India
- Kideco Jaya Agung - Indonesia
- Merrill Lynch Commodities Europe
- Tata Chemicals Ltd - India
- Electricity Authority, New Zealand
- ICICI Bank Limited - India
- Jindal Steel & Power Ltd - India
- Banpu Public Company Limited - Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Central Java Power - Indonesia
- IHS Mccloskey Coal Group - USA
- Rashtriya Ispat Nigam Limited - India
- CNBM International Corporation - China
- Salva Resources Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Siam City Cement PLC, Thailand
- Cigading International Bulk Terminal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- The University of Queensland
- Jorong Barutama Greston.PT - Indonesia
- San Jose City I Power Corp, Philippines
- Rio Tinto Coal - Australia
- GVK Power & Infra Limited - India
- Xindia Steels Limited - India
- Vizag Seaport Private Limited - India
- Ambuja Cements Ltd - India
- Bulk Trading Sa - Switzerland
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Agrawal Coal Company - India
- Anglo American - United Kingdom
- Commonwealth Bank - Australia
- Price Waterhouse Coopers - Russia
- New Zealand Coal & Carbon
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Dalmia Cement Bharat India
- Central Electricity Authority - India
- Kaltim Prima Coal - Indonesia
- Global Coal Blending Company Limited - Australia
- Meenaskhi Energy Private Limited - India
- Karbindo Abesyapradhi - Indoneisa
- MS Steel International - UAE
- Pendopo Energi Batubara - Indonesia
- Bukit Makmur.PT - Indonesia
- Economic Council, Georgia
- Larsen & Toubro Limited - India
- Kobexindo Tractors - Indoneisa
- Meralco Power Generation, Philippines
- Minerals Council of Australia
- Kalimantan Lumbung Energi - Indonesia
- SMG Consultants - Indonesia
- Simpson Spence & Young - Indonesia
- Indo Tambangraya Megah - Indonesia
- Independent Power Producers Association of India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Asmin Koalindo Tuhup - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bhushan Steel Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Africa Commodities Group - South Africa
- Wilmar Investment Holdings
- Siam City Cement - Thailand
- Sinarmas Energy and Mining - Indonesia
- Coal and Oil Company - UAE
- Madhucon Powers Ltd - India
- Chettinad Cement Corporation Ltd - India
- Straits Asia Resources Limited - Singapore
- Makarim & Taira - Indonesia
- Directorate Of Revenue Intelligence - India
- Thiess Contractors Indonesia
- IEA Clean Coal Centre - UK
- Renaissance Capital - South Africa
- Planning Commission, India
- Mjunction Services Limited - India
- Ministry of Transport, Egypt
- GAC Shipping (India) Pvt Ltd
- Bayan Resources Tbk. - Indonesia
- Maheswari Brothers Coal Limited - India
- Global Green Power PLC Corporation, Philippines
- Australian Coal Association
- Sical Logistics Limited - India
- Petron Corporation, Philippines
- Gujarat Sidhee Cement - India
- Krishnapatnam Port Company Ltd. - India
- PTC India Limited - India
- Sarangani Energy Corporation, Philippines
- Mintek Dendrill Indonesia
- Leighton Contractors Pty Ltd - Australia
- Heidelberg Cement - Germany
- The State Trading Corporation of India Ltd
- Goldman Sachs - Singapore
- Carbofer General Trading SA - India
- Kepco SPC Power Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- International Coal Ventures Pvt Ltd - India
- Romanian Commodities Exchange
- Parliament of New Zealand
- Videocon Industries ltd - India
- Kapuas Tunggal Persada - Indonesia
- Tamil Nadu electricity Board
- Coalindo Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Vijayanagar Sugar Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Singapore Mercantile Exchange
- Bangladesh Power Developement Board
- Binh Thuan Hamico - Vietnam
- Timah Investasi Mineral - Indoneisa
- SN Aboitiz Power Inc, Philippines
- Orica Australia Pty. Ltd.
- Bahari Cakrawala Sebuku - Indonesia
- Power Finance Corporation Ltd., India
- Energy Link Ltd, New Zealand
- London Commodity Brokers - England
- Indonesian Coal Mining Association
- Kartika Selabumi Mining - Indonesia
- Mercator Lines Limited - India
- India Bulls Power Limited - India
- Lanco Infratech Ltd - India
- GMR Energy Limited - India
- Chamber of Mines of South Africa
- Parry Sugars Refinery, India
- Australian Commodity Traders Exchange
- Global Business Power Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- LBH Netherlands Bv - Netherlands
- Ministry of Mines - Canada
- Aboitiz Power Corporation - Philippines
- Orica Mining Services - Indonesia
- Interocean Group of Companies - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Coastal Gujarat Power Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- GN Power Mariveles Coal Plant, Philippines
- Semirara Mining Corp, Philippines
- Deloitte Consulting - India
- Maharashtra Electricity Regulatory Commission - India
- Essar Steel Hazira Ltd - India
- Georgia Ports Authority, United States
- Kumho Petrochemical, South Korea
- Sojitz Corporation - Japan
- Wood Mackenzie - Singapore
- Trasteel International SA, Italy
- Miang Besar Coal Terminal - Indonesia
- Latin American Coal - Colombia
- Kohat Cement Company Ltd. - Pakistan
- Malabar Cements Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- PetroVietnam Power Coal Import and Supply Company
- Ind-Barath Power Infra Limited - India
- Savvy Resources Ltd - HongKong
- Toyota Tsusho Corporation, Japan
- Eastern Coal Council - USA
- Standard Chartered Bank - UAE
- Cement Manufacturers Association - India
- Globalindo Alam Lestari - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Bharathi Cement Corporation - India
- Iligan Light & Power Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Metalloyd Limited - United Kingdom
- Petrochimia International Co. Ltd.- Taiwan
- Sakthi Sugars Limited - India
- Riau Bara Harum - Indonesia
- Therma Luzon, Inc, Philippines
- ASAPP Information Group - India
- PNOC Exploration Corporation - Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Aditya Birla Group - India
- OPG Power Generation Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Thai Mozambique Logistica
- Intertek Mineral Services - Indonesia
- PowerSource Philippines DevCo
- Indian Oil Corporation Limited
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