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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, 08 April 10
NAPOCOR GETS ONE OFFER AT COAL TENDER - ABS CBN
ABS- CBN News reported that, Philippine power producer National Power Corp. (Napocor) is likely to buy 50,000 tons of steam coal from PT Berau Coal ...
Wednesday, 07 April 10
DRY BULK MARKET LOOKING FOR DIRECTION
The dry bulk market has kept a low profile during the past week, as evidenced by the small changes of a usually rather turbulent Baltic Dry Index (B ...
Tuesday, 06 April 10
NEWCASTLE COAL EXPORTS RISE 24%, SHIP QUEUE SHORTENS - BLOOMBERG
Bloomberg reported that, Coal shipments from Australia’s Newcastle port, the world’s biggest export harbor for the fuel used in power st ...
Tuesday, 06 April 10
UAE STEEL TRADERS FEAR LOSSES ON GLOBAL HIKE
A sudden spurt in the price of iron ore in the international market has caught local steel traders and manufacturers and a host of other steel-depen ...
Tuesday, 06 April 10
ASIAN INVESTORS EYE NIGERIA MARITIME INDUSTRY
Investors from the Asian region are considering investing in the Nigerian maritime sector, which has huge opportunities and potential. One of such p ...
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- New Zealand Coal & Carbon
- Straits Asia Resources Limited - Singapore
- Parry Sugars Refinery, India
- Aditya Birla Group - India
- Ceylon Electricity Board - Sri Lanka
- Goldman Sachs - Singapore
- GVK Power & Infra Limited - India
- Indonesian Coal Mining Association
- ICICI Bank Limited - India
- MS Steel International - UAE
- Intertek Mineral Services - Indonesia
- Medco Energi Mining Internasional
- Simpson Spence & Young - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sojitz Corporation - Japan
- Mjunction Services Limited - India
- Trasteel International SA, Italy
- Neyveli Lignite Corporation Ltd, - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- SN Aboitiz Power Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Siam City Cement PLC, Thailand
- PetroVietnam Power Coal Import and Supply Company
- Holcim Trading Pte Ltd - Singapore
- Global Coal Blending Company Limited - Australia
- Wood Mackenzie - Singapore
- Bhushan Steel Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Directorate Of Revenue Intelligence - India
- Uttam Galva Steels Limited - India
- Formosa Plastics Group - Taiwan
- Gujarat Sidhee Cement - India
- South Luzon Thermal Energy Corporation
- TeaM Sual Corporation - Philippines
- Merrill Lynch Commodities Europe
- Chamber of Mines of South Africa
- Rashtriya Ispat Nigam Limited - India
- Electricity Generating Authority of Thailand
- Planning Commission, India
- Savvy Resources Ltd - HongKong
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sree Jayajothi Cements Limited - India
- GAC Shipping (India) Pvt Ltd
- Kideco Jaya Agung - Indonesia
- San Jose City I Power Corp, Philippines
- Ministry of Transport, Egypt
- Indian Oil Corporation Limited
- Thiess Contractors Indonesia
- Semirara Mining and Power Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- CIMB Investment Bank - Malaysia
- Barasentosa Lestari - Indonesia
- Australian Coal Association
- Edison Trading Spa - Italy
- Mintek Dendrill Indonesia
- Wilmar Investment Holdings
- Meralco Power Generation, Philippines
- Antam Resourcindo - Indonesia
- Lanco Infratech Ltd - India
- Pendopo Energi Batubara - Indonesia
- Agrawal Coal Company - India
- Ind-Barath Power Infra Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kumho Petrochemical, South Korea
- Riau Bara Harum - Indonesia
- Latin American Coal - Colombia
- Iligan Light & Power Inc, Philippines
- The State Trading Corporation of India Ltd
- Bharathi Cement Corporation - India
- Posco Energy - South Korea
- Indian Energy Exchange, India
- PNOC Exploration Corporation - Philippines
- The University of Queensland
- White Energy Company Limited
- Global Business Power Corporation, Philippines
- India Bulls Power Limited - India
- London Commodity Brokers - England
- Minerals Council of Australia
- Makarim & Taira - Indonesia
- IEA Clean Coal Centre - UK
- PTC India Limited - India
- Kaltim Prima Coal - Indonesia
- Bangladesh Power Developement Board
- Commonwealth Bank - Australia
- Directorate General of MIneral and Coal - Indonesia
- Coalindo Energy - Indonesia
- Standard Chartered Bank - UAE
- Maheswari Brothers Coal Limited - India
- Coal and Oil Company - UAE
- Eastern Coal Council - USA
- Dalmia Cement Bharat India
- Siam City Cement - Thailand
- Indo Tambangraya Megah - Indonesia
- Tata Chemicals Ltd - India
- Carbofer General Trading SA - India
- Economic Council, Georgia
- Singapore Mercantile Exchange
- Bukit Makmur.PT - Indonesia
- CNBM International Corporation - China
- Ambuja Cements Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Marubeni Corporation - India
- Oldendorff Carriers - Singapore
- Ministry of Finance - Indonesia
- Gujarat Electricity Regulatory Commission - India
- PowerSource Philippines DevCo
- Toyota Tsusho Corporation, Japan
- Videocon Industries ltd - India
- Port Waratah Coal Services - Australia
- Independent Power Producers Association of India
- Jorong Barutama Greston.PT - Indonesia
- Orica Mining Services - Indonesia
- Renaissance Capital - South Africa
- Bukit Baiduri Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Tamil Nadu electricity Board
- Heidelberg Cement - Germany
- Price Waterhouse Coopers - Russia
- European Bulk Services B.V. - Netherlands
- Bhatia International Limited - India
- Essar Steel Hazira Ltd - India
- Cement Manufacturers Association - India
- Malabar Cements Ltd - India
- Vizag Seaport Private Limited - India
- Salva Resources Pvt Ltd - India
- Xindia Steels Limited - India
- Grasim Industreis Ltd - India
- Krishnapatnam Port Company Ltd. - India
- VISA Power Limited - India
- Kepco SPC Power Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- SMG Consultants - Indonesia
- Deloitte Consulting - India
- Metalloyd Limited - United Kingdom
- SMC Global Power, Philippines
- Power Finance Corporation Ltd., India
- Miang Besar Coal Terminal - Indonesia
- OPG Power Generation Pvt Ltd - India
- Africa Commodities Group - South Africa
- Sakthi Sugars Limited - India
- Mercuria Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Sinarmas Energy and Mining - Indonesia
- ASAPP Information Group - India
- Manunggal Multi Energi - Indonesia
- Electricity Authority, New Zealand
- Kalimantan Lumbung Energi - Indonesia
- Jindal Steel & Power Ltd - India
- IHS Mccloskey Coal Group - USA
- Larsen & Toubro Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Samtan Co., Ltd - South Korea
- Mercator Lines Limited - India
- Sarangani Energy Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Banpu Public Company Limited - Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Kapuas Tunggal Persada - Indonesia
- Bayan Resources Tbk. - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Interocean Group of Companies - India
- Jaiprakash Power Ventures ltd
- TNB Fuel Sdn Bhd - Malaysia
- Pipit Mutiara Jaya. PT, Indonesia
- Bulk Trading Sa - Switzerland
- Anglo American - United Kingdom
- Borneo Indobara - Indonesia
- Binh Thuan Hamico - Vietnam
- Karaikal Port Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Cigading International Bulk Terminal - Indonesia
- Baramulti Group, Indonesia
- LBH Netherlands Bv - Netherlands
- The Treasury - Australian Government
- Attock Cement Pakistan Limited
- Romanian Commodities Exchange
- Star Paper Mills Limited - India
- Globalindo Alam Lestari - Indonesia
- Indogreen Group - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Petron Corporation, Philippines
- Indika Energy - Indonesia
- Sical Logistics Limited - India
- Sindya Power Generating Company Private Ltd
- Australian Commodity Traders Exchange
- Bahari Cakrawala Sebuku - Indonesia
- Aboitiz Power Corporation - Philippines
- Kobexindo Tractors - Indoneisa
- Central Java Power - Indonesia
- Energy Link Ltd, New Zealand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Coastal Gujarat Power Limited - India
- Semirara Mining Corp, Philippines
- Eastern Energy - Thailand
- McConnell Dowell - Australia
- Thai Mozambique Logistica
- Georgia Ports Authority, United States
- Orica Australia Pty. Ltd.
- Parliament of New Zealand
- Central Electricity Authority - India
- Rio Tinto Coal - Australia
- Ministry of Mines - Canada
- GMR Energy Limited - India
- Madhucon Powers Ltd - India
- Meenaskhi Energy Private Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Leighton Contractors Pty Ltd - Australia
- Bhoruka Overseas - Indonesia
- Vedanta Resources Plc - India
- Energy Development Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
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