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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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Monday, 01 March 10
166 MINING COMPANIES THREATEN ENVIRONMENT
Viva News reported that, the Indonesian Forum for the Environment (Walhi) of East Kalimantan reveals that 166 coal mining companies, which are curre ...
Monday, 01 March 10
IRON ORE PRICE NEGOTIATIONS - 80PCT HIKE SEEN BY CHINESE
China Knowledge quoted an insider from a large Chinese steel company said there will be a significant increase in steel prices in the next few month ...
Sunday, 28 February 10
SUPRAMAX CHARTER RATES FOR ONE YEAR IS AROUND US$ 19,000/20,000 PER DAY - VISTAAR SINGAPORE
COALspot.com : The freight market firmed up by almost 10 pct on Supramax and Handy size and about 7 pct on Panamax.
However it was interesting to ...
Sunday, 28 February 10
MINISTRY SEEKS TWO YEAR DELAY TO IMPLEMENT ENVIRONMENT LAW
The Jakarta Post reported that, The ministry of energy and mineral resources has proposed that the government postpone the implementation of the 200 ...
Sunday, 28 February 10
CONTINENTAL TARGETS COAL SALES FROM S AFRICA MINE IN Q2 - MINING WEEKLY
Mining weekly reported that, Junior coal explorer Continental Coal would start coal sales from its Vlakvarkfontein mine, in South Africa, in the sec ...
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- Baramulti Group, Indonesia
- Petron Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Singapore Mercantile Exchange
- Kideco Jaya Agung - Indonesia
- Wilmar Investment Holdings
- Petrochimia International Co. Ltd.- Taiwan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Mjunction Services Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Bangladesh Power Developement Board
- Jindal Steel & Power Ltd - India
- Xindia Steels Limited - India
- Orica Australia Pty. Ltd.
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Standard Chartered Bank - UAE
- Bahari Cakrawala Sebuku - Indonesia
- PNOC Exploration Corporation - Philippines
- San Jose City I Power Corp, Philippines
- Romanian Commodities Exchange
- Maharashtra Electricity Regulatory Commission - India
- Minerals Council of Australia
- Kapuas Tunggal Persada - Indonesia
- Savvy Resources Ltd - HongKong
- Interocean Group of Companies - India
- PowerSource Philippines DevCo
- Bhoruka Overseas - Indonesia
- Trasteel International SA, Italy
- Renaissance Capital - South Africa
- South Luzon Thermal Energy Corporation
- Cement Manufacturers Association - India
- Energy Development Corp, Philippines
- Economic Council, Georgia
- Bukit Asam (Persero) Tbk - Indonesia
- Metalloyd Limited - United Kingdom
- Siam City Cement - Thailand
- Ceylon Electricity Board - Sri Lanka
- London Commodity Brokers - England
- Kumho Petrochemical, South Korea
- Grasim Industreis Ltd - India
- Borneo Indobara - Indonesia
- International Coal Ventures Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Asmin Koalindo Tuhup - Indonesia
- Riau Bara Harum - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ambuja Cements Ltd - India
- Eastern Energy - Thailand
- Kalimantan Lumbung Energi - Indonesia
- Posco Energy - South Korea
- Power Finance Corporation Ltd., India
- Bukit Baiduri Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ministry of Finance - Indonesia
- Price Waterhouse Coopers - Russia
- Manunggal Multi Energi - Indonesia
- Deloitte Consulting - India
- Rashtriya Ispat Nigam Limited - India
- Globalindo Alam Lestari - Indonesia
- Sakthi Sugars Limited - India
- Altura Mining Limited, Indonesia
- Maheswari Brothers Coal Limited - India
- AsiaOL BioFuels Corp., Philippines
- Electricity Generating Authority of Thailand
- Australian Commodity Traders Exchange
- Simpson Spence & Young - Indonesia
- ICICI Bank Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Parliament of New Zealand
- The State Trading Corporation of India Ltd
- Meralco Power Generation, Philippines
- Videocon Industries ltd - India
- The Treasury - Australian Government
- Medco Energi Mining Internasional
- IHS Mccloskey Coal Group - USA
- Latin American Coal - Colombia
- Central Electricity Authority - India
- Miang Besar Coal Terminal - Indonesia
- Coal and Oil Company - UAE
- White Energy Company Limited
- Central Java Power - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- SN Aboitiz Power Inc, Philippines
- Tata Chemicals Ltd - India
- Global Green Power PLC Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Orica Mining Services - Indonesia
- Eastern Coal Council - USA
- TNB Fuel Sdn Bhd - Malaysia
- Indika Energy - Indonesia
- Oldendorff Carriers - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Bhatia International Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Makmur.PT - Indonesia
- Sree Jayajothi Cements Limited - India
- Toyota Tsusho Corporation, Japan
- Energy Link Ltd, New Zealand
- Billiton Holdings Pty Ltd - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indian Oil Corporation Limited
- Tamil Nadu electricity Board
- India Bulls Power Limited - India
- Indonesian Coal Mining Association
- Makarim & Taira - Indonesia
- Krishnapatnam Port Company Ltd. - India
- GAC Shipping (India) Pvt Ltd
- Ministry of Mines - Canada
- Coalindo Energy - Indonesia
- Madhucon Powers Ltd - India
- Vizag Seaport Private Limited - India
- Sinarmas Energy and Mining - Indonesia
- Port Waratah Coal Services - Australia
- Salva Resources Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Bhushan Steel Limited - India
- Kartika Selabumi Mining - Indonesia
- TeaM Sual Corporation - Philippines
- GN Power Mariveles Coal Plant, Philippines
- Gujarat Electricity Regulatory Commission - India
- Carbofer General Trading SA - India
- Marubeni Corporation - India
- Malabar Cements Ltd - India
- SMG Consultants - Indonesia
- Anglo American - United Kingdom
- Kobexindo Tractors - Indoneisa
- Mintek Dendrill Indonesia
- Star Paper Mills Limited - India
- Rio Tinto Coal - Australia
- Aboitiz Power Corporation - Philippines
- Banpu Public Company Limited - Thailand
- MS Steel International - UAE
- Agrawal Coal Company - India
- Africa Commodities Group - South Africa
- Dalmia Cement Bharat India
- Commonwealth Bank - Australia
- Straits Asia Resources Limited - Singapore
- ASAPP Information Group - India
- Directorate General of MIneral and Coal - Indonesia
- Bharathi Cement Corporation - India
- Parry Sugars Refinery, India
- Global Coal Blending Company Limited - Australia
- OPG Power Generation Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Planning Commission, India
- Gujarat Mineral Development Corp Ltd - India
- Chamber of Mines of South Africa
- CIMB Investment Bank - Malaysia
- Binh Thuan Hamico - Vietnam
- Leighton Contractors Pty Ltd - Australia
- Thai Mozambique Logistica
- Semirara Mining and Power Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- GVK Power & Infra Limited - India
- Ind-Barath Power Infra Limited - India
- Indogreen Group - Indonesia
- VISA Power Limited - India
- Heidelberg Cement - Germany
- Ministry of Transport, Egypt
- Wood Mackenzie - Singapore
- Directorate Of Revenue Intelligence - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- IEA Clean Coal Centre - UK
- Gujarat Sidhee Cement - India
- Independent Power Producers Association of India
- McConnell Dowell - Australia
- Neyveli Lignite Corporation Ltd, - India
- Electricity Authority, New Zealand
- PTC India Limited - India
- Kepco SPC Power Corporation, Philippines
- Global Business Power Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Mercator Lines Limited - India
- Karaikal Port Pvt Ltd - India
- Mercuria Energy - Indonesia
- Lanco Infratech Ltd - India
- SMC Global Power, Philippines
- Alfred C Toepfer International GmbH - Germany
- Attock Cement Pakistan Limited
- Pendopo Energi Batubara - Indonesia
- Goldman Sachs - Singapore
- Australian Coal Association
- Antam Resourcindo - Indonesia
- CNBM International Corporation - China
- GMR Energy Limited - India
- The University of Queensland
- Aditya Birla Group - India
- Uttam Galva Steels Limited - India
- Meenaskhi Energy Private Limited - India
- Timah Investasi Mineral - Indoneisa
- Iligan Light & Power Inc, Philippines
- European Bulk Services B.V. - Netherlands
- Essar Steel Hazira Ltd - India
- Larsen & Toubro Limited - India
- Therma Luzon, Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- New Zealand Coal & Carbon
- Semirara Mining Corp, Philippines
- Bayan Resources Tbk. - Indonesia
- Georgia Ports Authority, United States
- Cigading International Bulk Terminal - Indonesia
- Sindya Power Generating Company Private Ltd
- Indian Energy Exchange, India
- Thiess Contractors Indonesia
- Formosa Plastics Group - Taiwan
- Sojitz Corporation - Japan
- Siam City Cement PLC, Thailand
- Kaltim Prima Coal - Indonesia
- Edison Trading Spa - Italy
- Indo Tambangraya Megah - Indonesia
- Vedanta Resources Plc - India
- Sical Logistics Limited - India
- Intertek Mineral Services - Indonesia
- Chettinad Cement Corporation Ltd - India
- Sarangani Energy Corporation, Philippines
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