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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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Sunday, 17 January 10
THE FUTURES FOR THREE YEARS (2010 - 2012) FIRMED UP - VISTAAR SINGAPORE
COALspot.com (Singapore): The freight market was a bit mixed with BDI up by about 159 points and closed at 3,299 points.
BDI
The cape index cont ...
Sunday, 17 January 10
NTPC TO DOUBLE CAPACITY BY 2017
NTPC, which will launch its follow-on public offer on February 3, plans to more than double its generating capacity to over 70,000 mega watts by 201 ...
Saturday, 16 January 10
HANDY CONTINUED FIRM CONDITIONS FOR MARKET IN THE ATLANTIC
HANDY
Continued firm conditions for the Handymax / Smax market in the Atlantic with the BSI having a continued upwards momentum. US$ 45,000 ac ...
Friday, 15 January 10
INDONESIA COAL - HEAVY RAINS HAVE LITTLE IMPACT ON COAL OUTPUT
Coal shipments from Indonesia's main coal-producing area are unlikely to be hit by heavy rains during January-February as many miners are prepared ...
Friday, 15 January 10
GOVT BRINGS IN DOMESTIC COAL MARKET OBLIGATION
The Energy and Mineral Resources Ministry has issued a ministerial decree requiring producers of coal and other minerals to allocate a proportion ...
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- Metalloyd Limited - United Kingdom
- Sinarmas Energy and Mining - Indonesia
- Energy Link Ltd, New Zealand
- Eastern Energy - Thailand
- IEA Clean Coal Centre - UK
- Bukit Baiduri Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- ICICI Bank Limited - India
- Bulk Trading Sa - Switzerland
- Medco Energi Mining Internasional
- Savvy Resources Ltd - HongKong
- Cement Manufacturers Association - India
- Alfred C Toepfer International GmbH - Germany
- Timah Investasi Mineral - Indoneisa
- Chettinad Cement Corporation Ltd - India
- London Commodity Brokers - England
- Indonesian Coal Mining Association
- Sree Jayajothi Cements Limited - India
- Ministry of Transport, Egypt
- Bhoruka Overseas - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Power Finance Corporation Ltd., India
- Jorong Barutama Greston.PT - Indonesia
- Carbofer General Trading SA - India
- Kohat Cement Company Ltd. - Pakistan
- Tamil Nadu electricity Board
- Coal and Oil Company - UAE
- MS Steel International - UAE
- Australian Commodity Traders Exchange
- Kalimantan Lumbung Energi - Indonesia
- Manunggal Multi Energi - Indonesia
- Electricity Authority, New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- Jindal Steel & Power Ltd - India
- Kaltim Prima Coal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Essar Steel Hazira Ltd - India
- OPG Power Generation Pvt Ltd - India
- Baramulti Group, Indonesia
- Heidelberg Cement - Germany
- Marubeni Corporation - India
- GN Power Mariveles Coal Plant, Philippines
- Vizag Seaport Private Limited - India
- Sindya Power Generating Company Private Ltd
- PTC India Limited - India
- Cigading International Bulk Terminal - Indonesia
- Intertek Mineral Services - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Ministry of Mines - Canada
- GMR Energy Limited - India
- Edison Trading Spa - Italy
- Petron Corporation, Philippines
- Romanian Commodities Exchange
- Minerals Council of Australia
- Formosa Plastics Group - Taiwan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kobexindo Tractors - Indoneisa
- McConnell Dowell - Australia
- Electricity Generating Authority of Thailand
- Mercator Lines Limited - India
- Eastern Coal Council - USA
- Mercuria Energy - Indonesia
- Makarim & Taira - Indonesia
- Ministry of Finance - Indonesia
- Mintek Dendrill Indonesia
- San Jose City I Power Corp, Philippines
- Sojitz Corporation - Japan
- Ambuja Cements Ltd - India
- Krishnapatnam Port Company Ltd. - India
- India Bulls Power Limited - India
- Maheswari Brothers Coal Limited - India
- International Coal Ventures Pvt Ltd - India
- Singapore Mercantile Exchange
- AsiaOL BioFuels Corp., Philippines
- Wood Mackenzie - Singapore
- Neyveli Lignite Corporation Ltd, - India
- PowerSource Philippines DevCo
- Vijayanagar Sugar Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- LBH Netherlands Bv - Netherlands
- Altura Mining Limited, Indonesia
- European Bulk Services B.V. - Netherlands
- Bhatia International Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Bhushan Steel Limited - India
- Port Waratah Coal Services - Australia
- Chamber of Mines of South Africa
- ASAPP Information Group - India
- Barasentosa Lestari - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Africa Commodities Group - South Africa
- PNOC Exploration Corporation - Philippines
- Gujarat Sidhee Cement - India
- Planning Commission, India
- Therma Luzon, Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Tata Chemicals Ltd - India
- Globalindo Alam Lestari - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Kapuas Tunggal Persada - Indonesia
- South Luzon Thermal Energy Corporation
- Parliament of New Zealand
- SMC Global Power, Philippines
- Larsen & Toubro Limited - India
- Banpu Public Company Limited - Thailand
- Indogreen Group - Indonesia
- Meralco Power Generation, Philippines
- Malabar Cements Ltd - India
- Aboitiz Power Corporation - Philippines
- The Treasury - Australian Government
- The University of Queensland
- Posco Energy - South Korea
- Agrawal Coal Company - India
- Aditya Birla Group - India
- Energy Development Corp, Philippines
- Indian Energy Exchange, India
- SMG Consultants - Indonesia
- Rio Tinto Coal - Australia
- Videocon Industries ltd - India
- Binh Thuan Hamico - Vietnam
- Pendopo Energi Batubara - Indonesia
- CNBM International Corporation - China
- TeaM Sual Corporation - Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Xindia Steels Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Asmin Koalindo Tuhup - Indonesia
- Attock Cement Pakistan Limited
- Riau Bara Harum - Indonesia
- Merrill Lynch Commodities Europe
- Kideco Jaya Agung - Indonesia
- Salva Resources Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Bayan Resources Tbk. - Indonesia
- Meenaskhi Energy Private Limited - India
- Orica Australia Pty. Ltd.
- Global Green Power PLC Corporation, Philippines
- White Energy Company Limited
- Gujarat Mineral Development Corp Ltd - India
- Latin American Coal - Colombia
- Semirara Mining and Power Corporation, Philippines
- Anglo American - United Kingdom
- Offshore Bulk Terminal Pte Ltd, Singapore
- Samtan Co., Ltd - South Korea
- Interocean Group of Companies - India
- Lanco Infratech Ltd - India
- Mjunction Services Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Economic Council, Georgia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GAC Shipping (India) Pvt Ltd
- Jaiprakash Power Ventures ltd
- Wilmar Investment Holdings
- Australian Coal Association
- Price Waterhouse Coopers - Russia
- Iligan Light & Power Inc, Philippines
- Siam City Cement - Thailand
- Ind-Barath Power Infra Limited - India
- The State Trading Corporation of India Ltd
- New Zealand Coal & Carbon
- Karaikal Port Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Independent Power Producers Association of India
- Bangladesh Power Developement Board
- Semirara Mining Corp, Philippines
- Toyota Tsusho Corporation, Japan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Coalindo Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Indika Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Simpson Spence & Young - Indonesia
- Sical Logistics Limited - India
- Renaissance Capital - South Africa
- Oldendorff Carriers - Singapore
- Parry Sugars Refinery, India
- Thiess Contractors Indonesia
- Madhucon Powers Ltd - India
- Sarangani Energy Corporation, Philippines
- Central Java Power - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Commonwealth Bank - Australia
- Sakthi Sugars Limited - India
- Kepco SPC Power Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Global Business Power Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Borneo Indobara - Indonesia
- Grasim Industreis Ltd - India
- Georgia Ports Authority, United States
- Vedanta Resources Plc - India
- Holcim Trading Pte Ltd - Singapore
- Deloitte Consulting - India
- SN Aboitiz Power Inc, Philippines
- CIMB Investment Bank - Malaysia
- Orica Mining Services - Indonesia
- Indo Tambangraya Megah - Indonesia
- Bharathi Cement Corporation - India
- GVK Power & Infra Limited - India
- Coastal Gujarat Power Limited - India
- Directorate Of Revenue Intelligence - India
- Goldman Sachs - Singapore
- Central Electricity Authority - India
- VISA Power Limited - India
- Star Paper Mills Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Uttam Galva Steels Limited - India
- Standard Chartered Bank - UAE
- Thai Mozambique Logistica
- Trasteel International SA, Italy
- Dalmia Cement Bharat India
- Indian Oil Corporation Limited
- Kumho Petrochemical, South Korea
- Miang Besar Coal Terminal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Ceylon Electricity Board - Sri Lanka
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