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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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Saturday, 10 April 10
VESSELS OPEN N. CHINA WERE SEEN FIXED AT HIGH TEENS FOR TRIP VIA INDONESIA TO INDIA - VISTAAR SINGAPORE
COALspot.com: The BDI indices was almost at same levels was down by only 2.6 pct.
The cape index was down by almost 13 pct, which appears to be s ...
Saturday, 10 April 10
KRISHNAPATNAM PORT GROWS BY ALMOST 100% IN ITS SECOND YEAR OF OPERATIONS
COALspot.com ( Press Release): It has been a year of setting numerous records for Krishnapatnam Port. Krishnapatnam Port is only in its second year ...
Saturday, 10 April 10
TRANS-ASIA SEEKS SEMIRARA, INDO SUPPLIERS FOR COAL POWER PLANT - MANILA STANDARD TODAY
Manila Standard Today reported that, Trans-Asia Oil & Energy Development Corp., a unit of the Phinma Group, will tap Semirara Mining Corp. ...
Thursday, 08 April 10
THE FAR EAST SHIPPING MARKET FIRMING SINCE THE LAST WEEK
Handy
Little fresh interest early this week after the holidays. The BSI saw yest ...
Thursday, 08 April 10
INDONESIAN ENERGY MINISTRY SEEKS LONGER MINING CONTRACTS - THE JAKARTAGLOBE
The Jakarta Globe reported that, Energy Minister Darwin Zahedy Saleh said he would seek to amend the mining law to address investors’ complain ...
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- Metalloyd Limited - United Kingdom
- Iligan Light & Power Inc, Philippines
- Australian Coal Association
- Central Java Power - Indonesia
- IHS Mccloskey Coal Group - USA
- London Commodity Brokers - England
- Bayan Resources Tbk. - Indonesia
- SMC Global Power, Philippines
- Lanco Infratech Ltd - India
- Bhushan Steel Limited - India
- Intertek Mineral Services - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Kobexindo Tractors - Indoneisa
- Videocon Industries ltd - India
- Sical Logistics Limited - India
- PTC India Limited - India
- VISA Power Limited - India
- Singapore Mercantile Exchange
- Deloitte Consulting - India
- Sindya Power Generating Company Private Ltd
- Oldendorff Carriers - Singapore
- Billiton Holdings Pty Ltd - Australia
- Marubeni Corporation - India
- GN Power Mariveles Coal Plant, Philippines
- Central Electricity Authority - India
- PetroVietnam Power Coal Import and Supply Company
- Karaikal Port Pvt Ltd - India
- Madhucon Powers Ltd - India
- International Coal Ventures Pvt Ltd - India
- Mintek Dendrill Indonesia
- Global Coal Blending Company Limited - Australia
- Krishnapatnam Port Company Ltd. - India
- Romanian Commodities Exchange
- Coal and Oil Company - UAE
- Sree Jayajothi Cements Limited - India
- Xindia Steels Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bhoruka Overseas - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Indian Energy Exchange, India
- Interocean Group of Companies - India
- Edison Trading Spa - Italy
- The State Trading Corporation of India Ltd
- Vizag Seaport Private Limited - India
- Ministry of Mines - Canada
- Thiess Contractors Indonesia
- Orica Australia Pty. Ltd.
- Medco Energi Mining Internasional
- Indika Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Uttam Galva Steels Limited - India
- Indogreen Group - Indonesia
- Malabar Cements Ltd - India
- Bhatia International Limited - India
- Mercuria Energy - Indonesia
- Posco Energy - South Korea
- Kartika Selabumi Mining - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Renaissance Capital - South Africa
- McConnell Dowell - Australia
- Eastern Coal Council - USA
- Energy Link Ltd, New Zealand
- Star Paper Mills Limited - India
- Semirara Mining and Power Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Electricity Generating Authority of Thailand
- Tata Chemicals Ltd - India
- Savvy Resources Ltd - HongKong
- Straits Asia Resources Limited - Singapore
- Grasim Industreis Ltd - India
- Bangladesh Power Developement Board
- SMG Consultants - Indonesia
- Simpson Spence & Young - Indonesia
- Parry Sugars Refinery, India
- Therma Luzon, Inc, Philippines
- CNBM International Corporation - China
- Dalmia Cement Bharat India
- Asmin Koalindo Tuhup - Indonesia
- Essar Steel Hazira Ltd - India
- Timah Investasi Mineral - Indoneisa
- Power Finance Corporation Ltd., India
- Larsen & Toubro Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Jorong Barutama Greston.PT - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Manunggal Multi Energi - Indonesia
- Global Green Power PLC Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Meenaskhi Energy Private Limited - India
- Holcim Trading Pte Ltd - Singapore
- Gujarat Sidhee Cement - India
- Indonesian Coal Mining Association
- Price Waterhouse Coopers - Russia
- Makarim & Taira - Indonesia
- Kumho Petrochemical, South Korea
- Bulk Trading Sa - Switzerland
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Merrill Lynch Commodities Europe
- Altura Mining Limited, Indonesia
- Baramulti Group, Indonesia
- Georgia Ports Authority, United States
- Cement Manufacturers Association - India
- Siam City Cement PLC, Thailand
- Heidelberg Cement - Germany
- Salva Resources Pvt Ltd - India
- India Bulls Power Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Economic Council, Georgia
- GMR Energy Limited - India
- Ind-Barath Power Infra Limited - India
- Tamil Nadu electricity Board
- PowerSource Philippines DevCo
- Sarangani Energy Corporation, Philippines
- Anglo American - United Kingdom
- Sakthi Sugars Limited - India
- Binh Thuan Hamico - Vietnam
- Antam Resourcindo - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Ministry of Transport, Egypt
- Mercator Lines Limited - India
- Attock Cement Pakistan Limited
- Minerals Council of Australia
- White Energy Company Limited
- Meralco Power Generation, Philippines
- MS Steel International - UAE
- Trasteel International SA, Italy
- Sojitz Corporation - Japan
- Kapuas Tunggal Persada - Indonesia
- Indian Oil Corporation Limited
- Goldman Sachs - Singapore
- European Bulk Services B.V. - Netherlands
- Orica Mining Services - Indonesia
- Samtan Co., Ltd - South Korea
- Maheswari Brothers Coal Limited - India
- Kaltim Prima Coal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Coastal Gujarat Power Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- The Treasury - Australian Government
- Carbofer General Trading SA - India
- Mjunction Services Limited - India
- Independent Power Producers Association of India
- Gujarat Mineral Development Corp Ltd - India
- Indo Tambangraya Megah - Indonesia
- LBH Netherlands Bv - Netherlands
- Bukit Asam (Persero) Tbk - Indonesia
- Directorate Of Revenue Intelligence - India
- Coalindo Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Planning Commission, India
- South Luzon Thermal Energy Corporation
- IEA Clean Coal Centre - UK
- Karbindo Abesyapradhi - Indoneisa
- Ambuja Cements Ltd - India
- Africa Commodities Group - South Africa
- CIMB Investment Bank - Malaysia
- Maharashtra Electricity Regulatory Commission - India
- Jaiprakash Power Ventures ltd
- Vedanta Resources Plc - India
- GAC Shipping (India) Pvt Ltd
- Globalindo Alam Lestari - Indonesia
- Pendopo Energi Batubara - Indonesia
- Energy Development Corp, Philippines
- Kepco SPC Power Corporation, Philippines
- Agrawal Coal Company - India
- Directorate General of MIneral and Coal - Indonesia
- Bukit Makmur.PT - Indonesia
- Eastern Energy - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Australian Commodity Traders Exchange
- Latin American Coal - Colombia
- Commonwealth Bank - Australia
- Borneo Indobara - Indonesia
- Kideco Jaya Agung - Indonesia
- Parliament of New Zealand
- Toyota Tsusho Corporation, Japan
- San Jose City I Power Corp, Philippines
- Electricity Authority, New Zealand
- Wilmar Investment Holdings
- Kalimantan Lumbung Energi - Indonesia
- Jindal Steel & Power Ltd - India
- PNOC Exploration Corporation - Philippines
- Global Business Power Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Aboitiz Power Corporation - Philippines
- Rio Tinto Coal - Australia
- Wood Mackenzie - Singapore
- GVK Power & Infra Limited - India
- Gujarat Electricity Regulatory Commission - India
- Riau Bara Harum - Indonesia
- Aditya Birla Group - India
- Chamber of Mines of South Africa
- ASAPP Information Group - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Formosa Plastics Group - Taiwan
- The University of Queensland
- Banpu Public Company Limited - Thailand
- Semirara Mining Corp, Philippines
- New Zealand Coal & Carbon
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Thai Mozambique Logistica
- Bharathi Cement Corporation - India
- Ministry of Finance - Indonesia
- Barasentosa Lestari - Indonesia
- Port Waratah Coal Services - Australia
- ICICI Bank Limited - India
- Petron Corporation, Philippines
- Siam City Cement - Thailand
- Neyveli Lignite Corporation Ltd, - India
- Standard Chartered Bank - UAE
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