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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, 04 March 10
THE INDIAN MARKET WAS STILL STRONG - FEARNRESEARCH
HANDY
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Thursday, 04 March 10
GLOBAL COAL PRICES GETS SUPPORT FROM EM DEMAND
Commodity Online reported that, AP12 coal prices look well supported in 2010 thanks to positive outlook for Chinese coal demand whereas coal demand ...
Thursday, 04 March 10
THREE NEW GLOBAL PRICES INDEXES FOR COKING COAL
Commodity Online reported that, On February 26, Energy Publishing Co. broke new ground in the coal-marketing industry when it began publishing three ...
Tuesday, 02 March 10
INDIA WAS AGAIN THE WINNER IN THE EAST, WITH SUPRAMAXES FIXING CLOSE TO US$40,000/DAY FROM THE WEST COAST
There was little movement in the BDI this week but behind the scenes, the Supramax and Handy size segments posted significant gains, correcting the ...
Tuesday, 02 March 10
INDONESIA'S PROTECTED FORESTS NOW OPEN TO DEVELOPMENT
The Jakarta Globe reported that, President Susilo Bambang Yudhoyono has signed a decree to allow mining, power plants and other projects deemed stra ...
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- Dr Ramakrishna Prasad Power Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- MS Steel International - UAE
- Bhoruka Overseas - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Singapore Mercantile Exchange
- Antam Resourcindo - Indonesia
- Salva Resources Pvt Ltd - India
- Tata Chemicals Ltd - India
- VISA Power Limited - India
- Intertek Mineral Services - Indonesia
- Bulk Trading Sa - Switzerland
- Xindia Steels Limited - India
- Minerals Council of Australia
- Georgia Ports Authority, United States
- Karaikal Port Pvt Ltd - India
- Ambuja Cements Ltd - India
- Vizag Seaport Private Limited - India
- Madhucon Powers Ltd - India
- Kumho Petrochemical, South Korea
- PetroVietnam Power Coal Import and Supply Company
- Ceylon Electricity Board - Sri Lanka
- Toyota Tsusho Corporation, Japan
- Latin American Coal - Colombia
- Baramulti Group, Indonesia
- Holcim Trading Pte Ltd - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sinarmas Energy and Mining - Indonesia
- PTC India Limited - India
- IHS Mccloskey Coal Group - USA
- Petron Corporation, Philippines
- Global Business Power Corporation, Philippines
- Dalmia Cement Bharat India
- Sojitz Corporation - Japan
- Port Waratah Coal Services - Australia
- Maheswari Brothers Coal Limited - India
- AsiaOL BioFuels Corp., Philippines
- Cement Manufacturers Association - India
- Riau Bara Harum - Indonesia
- Samtan Co., Ltd - South Korea
- Kepco SPC Power Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Electricity Generating Authority of Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Eastern Energy - Thailand
- Ministry of Transport, Egypt
- Bukit Baiduri Energy - Indonesia
- Aditya Birla Group - India
- Eastern Coal Council - USA
- Makarim & Taira - Indonesia
- Independent Power Producers Association of India
- Siam City Cement - Thailand
- Lanco Infratech Ltd - India
- Agrawal Coal Company - India
- Vijayanagar Sugar Pvt Ltd - India
- Larsen & Toubro Limited - India
- GMR Energy Limited - India
- Jaiprakash Power Ventures ltd
- Standard Chartered Bank - UAE
- Gujarat Sidhee Cement - India
- Commonwealth Bank - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Energy Development Corp, Philippines
- Bhushan Steel Limited - India
- Renaissance Capital - South Africa
- Vedanta Resources Plc - India
- ASAPP Information Group - India
- Indian Oil Corporation Limited
- The Treasury - Australian Government
- Global Green Power PLC Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Meenaskhi Energy Private Limited - India
- South Luzon Thermal Energy Corporation
- Gujarat Electricity Regulatory Commission - India
- Oldendorff Carriers - Singapore
- Africa Commodities Group - South Africa
- Banpu Public Company Limited - Thailand
- Kalimantan Lumbung Energi - Indonesia
- Electricity Authority, New Zealand
- Wood Mackenzie - Singapore
- Videocon Industries ltd - India
- Uttam Galva Steels Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Meralco Power Generation, Philippines
- Pendopo Energi Batubara - Indonesia
- Iligan Light & Power Inc, Philippines
- Marubeni Corporation - India
- Mjunction Services Limited - India
- CIMB Investment Bank - Malaysia
- Directorate Of Revenue Intelligence - India
- Semirara Mining Corp, Philippines
- PNOC Exploration Corporation - Philippines
- Sarangani Energy Corporation, Philippines
- Coal and Oil Company - UAE
- Jindal Steel & Power Ltd - India
- Trasteel International SA, Italy
- Therma Luzon, Inc, Philippines
- Coalindo Energy - Indonesia
- Edison Trading Spa - Italy
- Asmin Koalindo Tuhup - Indonesia
- Planning Commission, India
- Bukit Makmur.PT - Indonesia
- Metalloyd Limited - United Kingdom
- Bangladesh Power Developement Board
- Krishnapatnam Port Company Ltd. - India
- McConnell Dowell - Australia
- Goldman Sachs - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Sical Logistics Limited - India
- Formosa Plastics Group - Taiwan
- SMG Consultants - Indonesia
- Chamber of Mines of South Africa
- Thai Mozambique Logistica
- Price Waterhouse Coopers - Russia
- LBH Netherlands Bv - Netherlands
- Posco Energy - South Korea
- SMC Global Power, Philippines
- Essar Steel Hazira Ltd - India
- The State Trading Corporation of India Ltd
- GVK Power & Infra Limited - India
- IEA Clean Coal Centre - UK
- Deloitte Consulting - India
- Kohat Cement Company Ltd. - Pakistan
- Barasentosa Lestari - Indonesia
- OPG Power Generation Pvt Ltd - India
- Mintek Dendrill Indonesia
- Coastal Gujarat Power Limited - India
- Merrill Lynch Commodities Europe
- Manunggal Multi Energi - Indonesia
- Rashtriya Ispat Nigam Limited - India
- TeaM Sual Corporation - Philippines
- The University of Queensland
- Interocean Group of Companies - India
- Medco Energi Mining Internasional
- Australian Coal Association
- Kideco Jaya Agung - Indonesia
- Kartika Selabumi Mining - Indonesia
- PowerSource Philippines DevCo
- Grasim Industreis Ltd - India
- Ind-Barath Power Infra Limited - India
- International Coal Ventures Pvt Ltd - India
- Ministry of Mines - Canada
- Altura Mining Limited, Indonesia
- Parry Sugars Refinery, India
- Timah Investasi Mineral - Indoneisa
- Kaltim Prima Coal - Indonesia
- Malabar Cements Ltd - India
- Bayan Resources Tbk. - Indonesia
- San Jose City I Power Corp, Philippines
- Economic Council, Georgia
- Carbofer General Trading SA - India
- Orica Australia Pty. Ltd.
- Wilmar Investment Holdings
- Sree Jayajothi Cements Limited - India
- Mercator Lines Limited - India
- Aboitiz Power Corporation - Philippines
- Directorate General of MIneral and Coal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Miang Besar Coal Terminal - Indonesia
- Mercuria Energy - Indonesia
- Siam City Cement PLC, Thailand
- Straits Asia Resources Limited - Singapore
- Maharashtra Electricity Regulatory Commission - India
- New Zealand Coal & Carbon
- Karbindo Abesyapradhi - Indoneisa
- White Energy Company Limited
- Indian Energy Exchange, India
- Bahari Cakrawala Sebuku - Indonesia
- Simpson Spence & Young - Indonesia
- Chettinad Cement Corporation Ltd - India
- Central Electricity Authority - India
- CNBM International Corporation - China
- Jorong Barutama Greston.PT - Indonesia
- Power Finance Corporation Ltd., India
- TNB Fuel Sdn Bhd - Malaysia
- Billiton Holdings Pty Ltd - Australia
- London Commodity Brokers - England
- Energy Link Ltd, New Zealand
- Attock Cement Pakistan Limited
- Gujarat Mineral Development Corp Ltd - India
- Bharathi Cement Corporation - India
- Tamil Nadu electricity Board
- Thiess Contractors Indonesia
- Australian Commodity Traders Exchange
- Heidelberg Cement - Germany
- Pipit Mutiara Jaya. PT, Indonesia
- Sakthi Sugars Limited - India
- Leighton Contractors Pty Ltd - Australia
- Central Java Power - Indonesia
- Sindya Power Generating Company Private Ltd
- Rio Tinto Coal - Australia
- Kobexindo Tractors - Indoneisa
- Petrochimia International Co. Ltd.- Taiwan
- India Bulls Power Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bhatia International Limited - India
- Star Paper Mills Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Binh Thuan Hamico - Vietnam
- Indo Tambangraya Megah - Indonesia
- Indonesian Coal Mining Association
- Borneo Indobara - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Global Coal Blending Company Limited - Australia
- Indogreen Group - Indonesia
- Orica Mining Services - Indonesia
- Indika Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Romanian Commodities Exchange
- Savvy Resources Ltd - HongKong
- Ministry of Finance - Indonesia
- Parliament of New Zealand
- European Bulk Services B.V. - Netherlands
- Anglo American - United Kingdom
- ICICI Bank Limited - India
- GAC Shipping (India) Pvt Ltd
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