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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, 25 March 10
THE INDIAN MARKET IS STILL FIRM - FEARNLEYS AS
Handy
A sluggish start to the week in the Atlantic with little fresh busin ...
Tuesday, 23 March 10
NINE COMPANIES WIN 20-YEAR COAL CONTRACTS - TEMPO
Tempo Interactive reported that, State Eletricity Company (Perusahaan Listrik Negara) revealed four joint ventures and one company winning coa ...
Monday, 22 March 10
INDONESIA`S MERUKH WINS US$3 BLN SWISS CONTRACT TO SUPPLY COAL - ANTARA
Antara Reported that, Indonesia's PT Merukh Enterprises said it has secured a 30-year contract to supply coal to Swiss buyer Glencore International ...
Monday, 22 March 10
INDIA TO IMPORT COLOMBIAN COAL FOR FIRST TIME AS DEMAND SURGES - BLOOMBERG
Bloomberg reported that, Adani Enterprises Ltd., India’s biggest coal importer, agreed to buy thermal coal from Colombia for the first t ...
Saturday, 20 March 10
NO MAJOR CHANGES ON SUPRAMAX MARKET FOR NEXT COUPLE OF WEEKS - VISTAAR
COALspot.com: “The dry bulk freight market continued to be firm on the Panamax and Supramax and Handy size vessels”, said Capt. Reddy MD ...
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- Asmin Koalindo Tuhup - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Bhoruka Overseas - Indonesia
- Coastal Gujarat Power Limited - India
- San Jose City I Power Corp, Philippines
- Romanian Commodities Exchange
- Wood Mackenzie - Singapore
- Sinarmas Energy and Mining - Indonesia
- Jindal Steel & Power Ltd - India
- Therma Luzon, Inc, Philippines
- VISA Power Limited - India
- Energy Development Corp, Philippines
- Eastern Energy - Thailand
- Karbindo Abesyapradhi - Indoneisa
- Timah Investasi Mineral - Indoneisa
- Global Coal Blending Company Limited - Australia
- Holcim Trading Pte Ltd - Singapore
- Straits Asia Resources Limited - Singapore
- Medco Energi Mining Internasional
- Central Electricity Authority - India
- Latin American Coal - Colombia
- Posco Energy - South Korea
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sakthi Sugars Limited - India
- Global Business Power Corporation, Philippines
- The State Trading Corporation of India Ltd
- Aditya Birla Group - India
- ICICI Bank Limited - India
- Mercator Lines Limited - India
- Directorate Of Revenue Intelligence - India
- Alfred C Toepfer International GmbH - Germany
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Singapore Mercantile Exchange
- Siam City Cement - Thailand
- GN Power Mariveles Coal Plant, Philippines
- Aboitiz Power Corporation - Philippines
- Makarim & Taira - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Sojitz Corporation - Japan
- Eastern Coal Council - USA
- Kartika Selabumi Mining - Indonesia
- Indian Energy Exchange, India
- Rashtriya Ispat Nigam Limited - India
- Toyota Tsusho Corporation, Japan
- Deloitte Consulting - India
- Vizag Seaport Private Limited - India
- Standard Chartered Bank - UAE
- Heidelberg Cement - Germany
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kapuas Tunggal Persada - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Madhucon Powers Ltd - India
- Banpu Public Company Limited - Thailand
- Bukit Baiduri Energy - Indonesia
- Indonesian Coal Mining Association
- Coalindo Energy - Indonesia
- Parry Sugars Refinery, India
- PowerSource Philippines DevCo
- Gujarat Mineral Development Corp Ltd - India
- Interocean Group of Companies - India
- Oldendorff Carriers - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Wilmar Investment Holdings
- Ministry of Mines - Canada
- Indian Oil Corporation Limited
- Bayan Resources Tbk. - Indonesia
- CIMB Investment Bank - Malaysia
- Bharathi Cement Corporation - India
- Formosa Plastics Group - Taiwan
- Bhushan Steel Limited - India
- Kideco Jaya Agung - Indonesia
- PNOC Exploration Corporation - Philippines
- Mjunction Services Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Bukit Makmur.PT - Indonesia
- Georgia Ports Authority, United States
- Indo Tambangraya Megah - Indonesia
- Electricity Authority, New Zealand
- Tata Chemicals Ltd - India
- Trasteel International SA, Italy
- White Energy Company Limited
- Karaikal Port Pvt Ltd - India
- Mintek Dendrill Indonesia
- GMR Energy Limited - India
- Bangladesh Power Developement Board
- Ambuja Cements Ltd - India
- Krishnapatnam Port Company Ltd. - India
- TeaM Sual Corporation - Philippines
- Cigading International Bulk Terminal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Gujarat Sidhee Cement - India
- Rio Tinto Coal - Australia
- Salva Resources Pvt Ltd - India
- Vedanta Resources Plc - India
- Binh Thuan Hamico - Vietnam
- Bulk Trading Sa - Switzerland
- Carbofer General Trading SA - India
- Orica Mining Services - Indonesia
- Simpson Spence & Young - Indonesia
- Mercuria Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Uttam Galva Steels Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indogreen Group - Indonesia
- Samtan Co., Ltd - South Korea
- IHS Mccloskey Coal Group - USA
- Thiess Contractors Indonesia
- LBH Netherlands Bv - Netherlands
- Pipit Mutiara Jaya. PT, Indonesia
- Port Waratah Coal Services - Australia
- Energy Link Ltd, New Zealand
- Xindia Steels Limited - India
- OPG Power Generation Pvt Ltd - India
- Thai Mozambique Logistica
- Attock Cement Pakistan Limited
- Borneo Indobara - Indonesia
- CNBM International Corporation - China
- Star Paper Mills Limited - India
- Metalloyd Limited - United Kingdom
- MS Steel International - UAE
- PetroVietnam Power Coal Import and Supply Company
- Petron Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Bhatia International Limited - India
- Pendopo Energi Batubara - Indonesia
- PTC India Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- ASAPP Information Group - India
- Marubeni Corporation - India
- Barasentosa Lestari - Indonesia
- Africa Commodities Group - South Africa
- Semirara Mining Corp, Philippines
- Renaissance Capital - South Africa
- Essar Steel Hazira Ltd - India
- Meralco Power Generation, Philippines
- Price Waterhouse Coopers - Russia
- Manunggal Multi Energi - Indonesia
- Agrawal Coal Company - India
- Grasim Industreis Ltd - India
- Edison Trading Spa - Italy
- Goldman Sachs - Singapore
- Videocon Industries ltd - India
- Baramulti Group, Indonesia
- Dalmia Cement Bharat India
- Ind-Barath Power Infra Limited - India
- The University of Queensland
- Siam City Cement PLC, Thailand
- Sree Jayajothi Cements Limited - India
- Chamber of Mines of South Africa
- Indika Energy - Indonesia
- Australian Commodity Traders Exchange
- Sindya Power Generating Company Private Ltd
- Australian Coal Association
- GVK Power & Infra Limited - India
- Planning Commission, India
- Electricity Generating Authority of Thailand
- Independent Power Producers Association of India
- Parliament of New Zealand
- Intertek Mineral Services - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Globalindo Alam Lestari - Indonesia
- Minerals Council of Australia
- Kepco SPC Power Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Gujarat Electricity Regulatory Commission - India
- Kumho Petrochemical, South Korea
- Kohat Cement Company Ltd. - Pakistan
- McConnell Dowell - Australia
- Sical Logistics Limited - India
- Orica Australia Pty. Ltd.
- International Coal Ventures Pvt Ltd - India
- The Treasury - Australian Government
- Kalimantan Lumbung Energi - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Meenaskhi Energy Private Limited - India
- Power Finance Corporation Ltd., India
- Antam Resourcindo - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- IEA Clean Coal Centre - UK
- GAC Shipping (India) Pvt Ltd
- Lanco Infratech Ltd - India
- SN Aboitiz Power Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Economic Council, Georgia
- Jaiprakash Power Ventures ltd
- Riau Bara Harum - Indonesia
- Ministry of Finance - Indonesia
- Merrill Lynch Commodities Europe
- London Commodity Brokers - England
- Altura Mining Limited, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Kobexindo Tractors - Indoneisa
- Cement Manufacturers Association - India
- Chettinad Cement Corporation Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Coal and Oil Company - UAE
- Tamil Nadu electricity Board
- SMG Consultants - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- New Zealand Coal & Carbon
- Miang Besar Coal Terminal - Indonesia
- SMC Global Power, Philippines
- Malabar Cements Ltd - India
- India Bulls Power Limited - India
- Kaltim Prima Coal - Indonesia
- Savvy Resources Ltd - HongKong
- Commonwealth Bank - Australia
- Central Java Power - Indonesia
- South Luzon Thermal Energy Corporation
- Ministry of Transport, Egypt
- Anglo American - United Kingdom
- Neyveli Lignite Corporation Ltd, - India
- Sarangani Energy Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Maheswari Brothers Coal Limited - India
- Larsen & Toubro Limited - India
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