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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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Saturday, 05 September 09
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- Pipit Mutiara Jaya. PT, Indonesia
- Cigading International Bulk Terminal - Indonesia
- Sojitz Corporation - Japan
- Coastal Gujarat Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- Binh Thuan Hamico - Vietnam
- Dalmia Cement Bharat India
- Rashtriya Ispat Nigam Limited - India
- Price Waterhouse Coopers - Russia
- Kapuas Tunggal Persada - Indonesia
- Georgia Ports Authority, United States
- Krishnapatnam Port Company Ltd. - India
- PowerSource Philippines DevCo
- Pendopo Energi Batubara - Indonesia
- Economic Council, Georgia
- Offshore Bulk Terminal Pte Ltd, Singapore
- European Bulk Services B.V. - Netherlands
- TNB Fuel Sdn Bhd - Malaysia
- CIMB Investment Bank - Malaysia
- Sindya Power Generating Company Private Ltd
- SN Aboitiz Power Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Lanco Infratech Ltd - India
- Larsen & Toubro Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Coal and Oil Company - UAE
- Aboitiz Power Corporation - Philippines
- AsiaOL BioFuels Corp., Philippines
- ASAPP Information Group - India
- Banpu Public Company Limited - Thailand
- Global Coal Blending Company Limited - Australia
- Wood Mackenzie - Singapore
- SMG Consultants - Indonesia
- Eastern Coal Council - USA
- Cement Manufacturers Association - India
- Semirara Mining and Power Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- The University of Queensland
- Timah Investasi Mineral - Indoneisa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ambuja Cements Ltd - India
- Bulk Trading Sa - Switzerland
- Formosa Plastics Group - Taiwan
- London Commodity Brokers - England
- GMR Energy Limited - India
- Kaltim Prima Coal - Indonesia
- South Luzon Thermal Energy Corporation
- LBH Netherlands Bv - Netherlands
- Australian Coal Association
- Minerals Council of Australia
- Bhoruka Overseas - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Deloitte Consulting - India
- Agrawal Coal Company - India
- Indian Oil Corporation Limited
- Oldendorff Carriers - Singapore
- Kideco Jaya Agung - Indonesia
- Ind-Barath Power Infra Limited - India
- Mintek Dendrill Indonesia
- Manunggal Multi Energi - Indonesia
- MS Steel International - UAE
- Savvy Resources Ltd - HongKong
- Maharashtra Electricity Regulatory Commission - India
- Indika Energy - Indonesia
- Parry Sugars Refinery, India
- Kalimantan Lumbung Energi - Indonesia
- Vedanta Resources Plc - India
- Central Electricity Authority - India
- Makarim & Taira - Indonesia
- Carbofer General Trading SA - India
- PetroVietnam Power Coal Import and Supply Company
- Mjunction Services Limited - India
- Heidelberg Cement - Germany
- Merrill Lynch Commodities Europe
- Romanian Commodities Exchange
- Rio Tinto Coal - Australia
- The Treasury - Australian Government
- Africa Commodities Group - South Africa
- Indian Energy Exchange, India
- Renaissance Capital - South Africa
- International Coal Ventures Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Metalloyd Limited - United Kingdom
- Posco Energy - South Korea
- Bukit Asam (Persero) Tbk - Indonesia
- Kepco SPC Power Corporation, Philippines
- IEA Clean Coal Centre - UK
- Barasentosa Lestari - Indonesia
- Ministry of Finance - Indonesia
- Salva Resources Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- VISA Power Limited - India
- Independent Power Producers Association of India
- Borneo Indobara - Indonesia
- Mercator Lines Limited - India
- Trasteel International SA, Italy
- Gujarat Sidhee Cement - India
- Sical Logistics Limited - India
- Miang Besar Coal Terminal - Indonesia
- Videocon Industries ltd - India
- Indonesian Coal Mining Association
- White Energy Company Limited
- Commonwealth Bank - Australia
- Gujarat Mineral Development Corp Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Tamil Nadu electricity Board
- Kartika Selabumi Mining - Indonesia
- Petron Corporation, Philippines
- PTC India Limited - India
- Medco Energi Mining Internasional
- Ceylon Electricity Board - Sri Lanka
- Energy Link Ltd, New Zealand
- Globalindo Alam Lestari - Indonesia
- New Zealand Coal & Carbon
- Vijayanagar Sugar Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Energy Development Corp, Philippines
- SMC Global Power, Philippines
- Thiess Contractors Indonesia
- Bayan Resources Tbk. - Indonesia
- Standard Chartered Bank - UAE
- Goldman Sachs - Singapore
- Karaikal Port Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Alfred C Toepfer International GmbH - Germany
- Jaiprakash Power Ventures ltd
- Electricity Authority, New Zealand
- Thai Mozambique Logistica
- Central Java Power - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Singapore Mercantile Exchange
- Eastern Energy - Thailand
- Directorate Of Revenue Intelligence - India
- Siam City Cement PLC, Thailand
- Edison Trading Spa - Italy
- Sakthi Sugars Limited - India
- Malabar Cements Ltd - India
- Wilmar Investment Holdings
- San Jose City I Power Corp, Philippines
- Maheswari Brothers Coal Limited - India
- CNBM International Corporation - China
- Grasim Industreis Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- TeaM Sual Corporation - Philippines
- Bukit Makmur.PT - Indonesia
- Electricity Generating Authority of Thailand
- Intertek Mineral Services - Indonesia
- Chamber of Mines of South Africa
- Altura Mining Limited, Indonesia
- Riau Bara Harum - Indonesia
- Therma Luzon, Inc, Philippines
- Interocean Group of Companies - India
- Bhatia International Limited - India
- Gujarat Electricity Regulatory Commission - India
- Vizag Seaport Private Limited - India
- Marubeni Corporation - India
- Sarangani Energy Corporation, Philippines
- Global Business Power Corporation, Philippines
- Mercuria Energy - Indonesia
- ICICI Bank Limited - India
- Straits Asia Resources Limited - Singapore
- Parliament of New Zealand
- Indogreen Group - Indonesia
- Meralco Power Generation, Philippines
- Bharathi Cement Corporation - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Leighton Contractors Pty Ltd - Australia
- Orica Mining Services - Indonesia
- Antam Resourcindo - Indonesia
- Global Green Power PLC Corporation, Philippines
- Australian Commodity Traders Exchange
- Anglo American - United Kingdom
- Semirara Mining Corp, Philippines
- Latin American Coal - Colombia
- Jindal Steel & Power Ltd - India
- Siam City Cement - Thailand
- GVK Power & Infra Limited - India
- Xindia Steels Limited - India
- Power Finance Corporation Ltd., India
- PNOC Exploration Corporation - Philippines
- Samtan Co., Ltd - South Korea
- Bangladesh Power Developement Board
- IHS Mccloskey Coal Group - USA
- Essar Steel Hazira Ltd - India
- Ministry of Transport, Egypt
- Ministry of Mines - Canada
- Aditya Birla Group - India
- Meenaskhi Energy Private Limited - India
- Tata Chemicals Ltd - India
- Indo Tambangraya Megah - Indonesia
- McConnell Dowell - Australia
- Karbindo Abesyapradhi - Indoneisa
- Sree Jayajothi Cements Limited - India
- Bukit Baiduri Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Planning Commission, India
- Kumho Petrochemical, South Korea
- Kobexindo Tractors - Indoneisa
- Port Waratah Coal Services - Australia
- Star Paper Mills Limited - India
- Orica Australia Pty. Ltd.
- Simpson Spence & Young - Indonesia
- The State Trading Corporation of India Ltd
- GAC Shipping (India) Pvt Ltd
- Baramulti Group, Indonesia
- Attock Cement Pakistan Limited
- Madhucon Powers Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Coalindo Energy - Indonesia
- India Bulls Power Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Petrochimia International Co. Ltd.- Taiwan
- Chettinad Cement Corporation Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Bhushan Steel Limited - India
- Jorong Barutama Greston.PT - Indonesia
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