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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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Thursday, 13 May 10
ACTIVITY ON WEST COAST INDIA IS SLOWING - FEARNLEYS AS
DRY BULK CHARTERING
Handy
Atlantic markets remain firm but more for end May/beg June dates as there seems to be more enquiries for those dates. ...
Thursday, 13 May 10
DRY BULK SHIP OWNERS CHEERFUL AMID MARKET RALLY
China’s appetite for raw materials like iron ore and coal, as well as a series of added factors are boosting demand for dry bulk carriers, hel ...
Wednesday, 12 May 10
BANPU'S Q1 PROFIT SLIDES 43% TO B2.71BN - BANGKOK POST
The Bangkokpost reported that, Banpu Plc posted a first-quarter net profit of 2.71 billion baht, down by 43% from the same period last year.
The ...
Tuesday, 11 May 10
DALRYMPLE BAY COAL EXPORTS HIGHEST SINCE JULY; NEWCASTLE FALLS - BLOOMBERG
Bloomberg reported that, Coal shipments from Australia’s Dalrymple Bay terminal in Queensland state rose to the highest in nine months in Apri ...
Tuesday, 11 May 10
DRY BULK RATES SHOOT UP ON STRONG CARGO DEMAND
The dry bulk industry’s benchmark, the Baltic Dry Index (BDI) has kept its momentum, as predicted by analysts and shipping experts, managing t ...
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- Samtan Co., Ltd - South Korea
- Bulk Trading Sa - Switzerland
- Essar Steel Hazira Ltd - India
- Coal and Oil Company - UAE
- IEA Clean Coal Centre - UK
- Tata Chemicals Ltd - India
- Singapore Mercantile Exchange
- ASAPP Information Group - India
- Economic Council, Georgia
- GVK Power & Infra Limited - India
- Mintek Dendrill Indonesia
- Rio Tinto Coal - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- South Luzon Thermal Energy Corporation
- Straits Asia Resources Limited - Singapore
- Savvy Resources Ltd - HongKong
- Siam City Cement PLC, Thailand
- Independent Power Producers Association of India
- Kaltim Prima Coal - Indonesia
- Edison Trading Spa - Italy
- CNBM International Corporation - China
- Pendopo Energi Batubara - Indonesia
- Trasteel International SA, Italy
- PTC India Limited - India
- Kideco Jaya Agung - Indonesia
- Simpson Spence & Young - Indonesia
- Medco Energi Mining Internasional
- India Bulls Power Limited - India
- AsiaOL BioFuels Corp., Philippines
- SMG Consultants - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Jorong Barutama Greston.PT - Indonesia
- Aboitiz Power Corporation - Philippines
- Port Waratah Coal Services - Australia
- Larsen & Toubro Limited - India
- Kepco SPC Power Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Georgia Ports Authority, United States
- Vedanta Resources Plc - India
- Orica Mining Services - Indonesia
- Kobexindo Tractors - Indoneisa
- Attock Cement Pakistan Limited
- Deloitte Consulting - India
- Binh Thuan Hamico - Vietnam
- Rashtriya Ispat Nigam Limited - India
- Heidelberg Cement - Germany
- Metalloyd Limited - United Kingdom
- Sakthi Sugars Limited - India
- Asmin Koalindo Tuhup - Indonesia
- San Jose City I Power Corp, Philippines
- Sree Jayajothi Cements Limited - India
- Iligan Light & Power Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Riau Bara Harum - Indonesia
- Orica Australia Pty. Ltd.
- The State Trading Corporation of India Ltd
- Indika Energy - Indonesia
- Mercuria Energy - Indonesia
- Salva Resources Pvt Ltd - India
- ICICI Bank Limited - India
- Price Waterhouse Coopers - Russia
- Coastal Gujarat Power Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Central Java Power - Indonesia
- Planning Commission, India
- Indogreen Group - Indonesia
- GMR Energy Limited - India
- Bhoruka Overseas - Indonesia
- Eastern Coal Council - USA
- Ministry of Mines - Canada
- Bukit Makmur.PT - Indonesia
- Chettinad Cement Corporation Ltd - India
- Africa Commodities Group - South Africa
- Wilmar Investment Holdings
- Chamber of Mines of South Africa
- Energy Development Corp, Philippines
- Therma Luzon, Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Romanian Commodities Exchange
- Madhucon Powers Ltd - India
- Karaikal Port Pvt Ltd - India
- Makarim & Taira - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Directorate Of Revenue Intelligence - India
- CIMB Investment Bank - Malaysia
- Meenaskhi Energy Private Limited - India
- Bukit Baiduri Energy - Indonesia
- Oldendorff Carriers - Singapore
- Bhatia International Limited - India
- Parliament of New Zealand
- Videocon Industries ltd - India
- Australian Commodity Traders Exchange
- Latin American Coal - Colombia
- Kalimantan Lumbung Energi - Indonesia
- Wood Mackenzie - Singapore
- Minerals Council of Australia
- Sojitz Corporation - Japan
- Ind-Barath Power Infra Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Semirara Mining Corp, Philippines
- Interocean Group of Companies - India
- Lanco Infratech Ltd - India
- Bhushan Steel Limited - India
- Billiton Holdings Pty Ltd - Australia
- Leighton Contractors Pty Ltd - Australia
- Banpu Public Company Limited - Thailand
- Neyveli Lignite Corporation Ltd, - India
- Goldman Sachs - Singapore
- Global Business Power Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Parry Sugars Refinery, India
- Borneo Indobara - Indonesia
- GAC Shipping (India) Pvt Ltd
- Formosa Plastics Group - Taiwan
- Timah Investasi Mineral - Indoneisa
- Kohat Cement Company Ltd. - Pakistan
- Kumho Petrochemical, South Korea
- PNOC Exploration Corporation - Philippines
- Commonwealth Bank - Australia
- Gujarat Electricity Regulatory Commission - India
- Malabar Cements Ltd - India
- McConnell Dowell - Australia
- Electricity Authority, New Zealand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Carbofer General Trading SA - India
- Bahari Cakrawala Sebuku - Indonesia
- Coalindo Energy - Indonesia
- Uttam Galva Steels Limited - India
- Semirara Mining and Power Corporation, Philippines
- Energy Link Ltd, New Zealand
- Sarangani Energy Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- The University of Queensland
- VISA Power Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- LBH Netherlands Bv - Netherlands
- TeaM Sual Corporation - Philippines
- Antam Resourcindo - Indonesia
- Agrawal Coal Company - India
- Cement Manufacturers Association - India
- Toyota Tsusho Corporation, Japan
- SMC Global Power, Philippines
- Dalmia Cement Bharat India
- Eastern Energy - Thailand
- Australian Coal Association
- Alfred C Toepfer International GmbH - Germany
- Global Green Power PLC Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- MS Steel International - UAE
- Holcim Trading Pte Ltd - Singapore
- Global Coal Blending Company Limited - Australia
- PetroVietnam Power Coal Import and Supply Company
- Grasim Industreis Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Petron Corporation, Philippines
- Central Electricity Authority - India
- Thiess Contractors Indonesia
- Star Paper Mills Limited - India
- Vizag Seaport Private Limited - India
- London Commodity Brokers - England
- Miang Besar Coal Terminal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Baramulti Group, Indonesia
- Jaiprakash Power Ventures ltd
- SN Aboitiz Power Inc, Philippines
- Merrill Lynch Commodities Europe
- Marubeni Corporation - India
- IHS Mccloskey Coal Group - USA
- Xindia Steels Limited - India
- Siam City Cement - Thailand
- Ministry of Finance - Indonesia
- Jindal Steel & Power Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- The Treasury - Australian Government
- Intertek Mineral Services - Indonesia
- Mjunction Services Limited - India
- PowerSource Philippines DevCo
- Aditya Birla Group - India
- Indo Tambangraya Megah - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Power Finance Corporation Ltd., India
- Bayan Resources Tbk. - Indonesia
- Anglo American - United Kingdom
- Indian Oil Corporation Limited
- Standard Chartered Bank - UAE
- Maharashtra Electricity Regulatory Commission - India
- Indian Energy Exchange, India
- Renaissance Capital - South Africa
- Globalindo Alam Lestari - Indonesia
- Meralco Power Generation, Philippines
- Barasentosa Lestari - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Electricity Generating Authority of Thailand
- Sical Logistics Limited - India
- Maheswari Brothers Coal Limited - India
- Ministry of Transport, Egypt
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Kartika Selabumi Mining - Indonesia
- Altura Mining Limited, Indonesia
- New Zealand Coal & Carbon
- Indonesian Coal Mining Association
- White Energy Company Limited
- Kapuas Tunggal Persada - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Tamil Nadu electricity Board
- Posco Energy - South Korea
- Directorate General of MIneral and Coal - Indonesia
- Thai Mozambique Logistica
- Mercator Lines Limited - India
- Ambuja Cements Ltd - India
- Manunggal Multi Energi - Indonesia
- Bharathi Cement Corporation - India
- Bangladesh Power Developement Board
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