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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, 08 August 09
TWO / THREE YEAR CHARTER RATES FOR SUPRAMAX IS AROUND US$ 15,000-16,000 PER DAY - CAPT. REDDY
COALspot.com (Singapore): The dry bulk market tumbled this week and the BDI dropped by almost 17% and closed at 2,772 points.
The cape and panam ...
Saturday, 08 August 09
SULTAN MINING SIGNS P8-BILLION, 10-YEAR COAL-SUPPLY CONTRACT WITH KEPCO POWER CORP.
COAL developer Sultan Mining and Energy Development Corp. (SMEDC) reported on Thursday that its subsidiary MG Mining and Energy Corp. signed an P8-b ...
Friday, 07 August 09
NEED TO HIKE DOMESTIC PRICES - COAL INDIA
WSJ reported that, The chairman of Coal India Ltd., the country's biggest coal producer, Friday said there was a need to hike domestic coal prices ...
Friday, 07 August 09
INDONESIA COAL NEWS UPDATES
PTBA to Produce 13 Million Tons
President Director of Tambang Batubara Bukit Asam (PTBA), Sukrisno has estimated coal production of the company th ...
Friday, 07 August 09
BALTIC DRY INDEX HAS WORST WEEK SINCE OCTOBER AS DEMAND SLOWS
Bloomberg reported that, The Baltic Dry Index, a measure of shipping costs for commodities, had its worst week since October as Chinese demand for s ...
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- Ministry of Finance - Indonesia
- Mercator Lines Limited - India
- Power Finance Corporation Ltd., India
- Alfred C Toepfer International GmbH - Germany
- Electricity Generating Authority of Thailand
- Price Waterhouse Coopers - Russia
- Toyota Tsusho Corporation, Japan
- Bhushan Steel Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Sree Jayajothi Cements Limited - India
- PTC India Limited - India
- Planning Commission, India
- Agrawal Coal Company - India
- PowerSource Philippines DevCo
- Deloitte Consulting - India
- Rio Tinto Coal - Australia
- Intertek Mineral Services - Indonesia
- Kepco SPC Power Corporation, Philippines
- Petron Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- IEA Clean Coal Centre - UK
- Cigading International Bulk Terminal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Iligan Light & Power Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Straits Asia Resources Limited - Singapore
- Georgia Ports Authority, United States
- Coal and Oil Company - UAE
- Meralco Power Generation, Philippines
- Renaissance Capital - South Africa
- Indonesian Coal Mining Association
- Star Paper Mills Limited - India
- Karaikal Port Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Indian Energy Exchange, India
- Larsen & Toubro Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Chettinad Cement Corporation Ltd - India
- Vedanta Resources Plc - India
- Gujarat Sidhee Cement - India
- Thiess Contractors Indonesia
- GMR Energy Limited - India
- Asmin Koalindo Tuhup - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Maheswari Brothers Coal Limited - India
- Bhoruka Overseas - Indonesia
- Sinarmas Energy and Mining - Indonesia
- GAC Shipping (India) Pvt Ltd
- MS Steel International - UAE
- Global Coal Blending Company Limited - Australia
- Siam City Cement PLC, Thailand
- Marubeni Corporation - India
- PNOC Exploration Corporation - Philippines
- Energy Link Ltd, New Zealand
- International Coal Ventures Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Samtan Co., Ltd - South Korea
- Coastal Gujarat Power Limited - India
- Bukit Makmur.PT - Indonesia
- Orica Australia Pty. Ltd.
- Wilmar Investment Holdings
- Eastern Energy - Thailand
- Dalmia Cement Bharat India
- Jindal Steel & Power Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Central Java Power - Indonesia
- Orica Mining Services - Indonesia
- Meenaskhi Energy Private Limited - India
- Holcim Trading Pte Ltd - Singapore
- South Luzon Thermal Energy Corporation
- OPG Power Generation Pvt Ltd - India
- Aditya Birla Group - India
- Cement Manufacturers Association - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- European Bulk Services B.V. - Netherlands
- Kohat Cement Company Ltd. - Pakistan
- Lanco Infratech Ltd - India
- Ministry of Transport, Egypt
- Savvy Resources Ltd - HongKong
- Grasim Industreis Ltd - India
- Port Waratah Coal Services - Australia
- Central Electricity Authority - India
- Gujarat Electricity Regulatory Commission - India
- Miang Besar Coal Terminal - Indonesia
- Bharathi Cement Corporation - India
- Directorate Of Revenue Intelligence - India
- Sindya Power Generating Company Private Ltd
- Attock Cement Pakistan Limited
- Ministry of Mines - Canada
- Aboitiz Power Corporation - Philippines
- Coalindo Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- Vizag Seaport Private Limited - India
- Australian Coal Association
- Medco Energi Mining Internasional
- Parry Sugars Refinery, India
- Videocon Industries ltd - India
- Banpu Public Company Limited - Thailand
- Mintek Dendrill Indonesia
- Australian Commodity Traders Exchange
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sarangani Energy Corporation, Philippines
- Sical Logistics Limited - India
- Energy Development Corp, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ind-Barath Power Infra Limited - India
- Bulk Trading Sa - Switzerland
- Metalloyd Limited - United Kingdom
- Globalindo Alam Lestari - Indonesia
- Thai Mozambique Logistica
- Uttam Galva Steels Limited - India
- Commonwealth Bank - Australia
- Independent Power Producers Association of India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Romanian Commodities Exchange
- Ambuja Cements Ltd - India
- India Bulls Power Limited - India
- Standard Chartered Bank - UAE
- Mercuria Energy - Indonesia
- Indika Energy - Indonesia
- SMC Global Power, Philippines
- White Energy Company Limited
- Minerals Council of Australia
- Bangladesh Power Developement Board
- Bukit Baiduri Energy - Indonesia
- Altura Mining Limited, Indonesia
- SN Aboitiz Power Inc, Philippines
- Africa Commodities Group - South Africa
- Salva Resources Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Baramulti Group, Indonesia
- Indo Tambangraya Megah - Indonesia
- The State Trading Corporation of India Ltd
- Tata Chemicals Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Therma Luzon, Inc, Philippines
- Bhatia International Limited - India
- TeaM Sual Corporation - Philippines
- Parliament of New Zealand
- Indian Oil Corporation Limited
- Kumho Petrochemical, South Korea
- Heidelberg Cement - Germany
- Carbofer General Trading SA - India
- Bayan Resources Tbk. - Indonesia
- Makarim & Taira - Indonesia
- McConnell Dowell - Australia
- Siam City Cement - Thailand
- GVK Power & Infra Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Kideco Jaya Agung - Indonesia
- Mjunction Services Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Jaiprakash Power Ventures ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- VISA Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- Xindia Steels Limited - India
- Oldendorff Carriers - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Singapore Mercantile Exchange
- ICICI Bank Limited - India
- Merrill Lynch Commodities Europe
- Manunggal Multi Energi - Indonesia
- Global Business Power Corporation, Philippines
- Chamber of Mines of South Africa
- Barasentosa Lestari - Indonesia
- Global Green Power PLC Corporation, Philippines
- Electricity Authority, New Zealand
- Kartika Selabumi Mining - Indonesia
- Kaltim Prima Coal - Indonesia
- Sakthi Sugars Limited - India
- Formosa Plastics Group - Taiwan
- Gujarat Mineral Development Corp Ltd - India
- Posco Energy - South Korea
- Maharashtra Electricity Regulatory Commission - India
- Latin American Coal - Colombia
- The Treasury - Australian Government
- Eastern Coal Council - USA
- Sojitz Corporation - Japan
- Edison Trading Spa - Italy
- Jorong Barutama Greston.PT - Indonesia
- Wood Mackenzie - Singapore
- Borneo Indobara - Indonesia
- LBH Netherlands Bv - Netherlands
- Tamil Nadu electricity Board
- Riau Bara Harum - Indonesia
- The University of Queensland
- London Commodity Brokers - England
- Leighton Contractors Pty Ltd - Australia
- Antam Resourcindo - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Anglo American - United Kingdom
- Billiton Holdings Pty Ltd - Australia
- Interocean Group of Companies - India
- Kapuas Tunggal Persada - Indonesia
- SMG Consultants - Indonesia
- Economic Council, Georgia
- ASAPP Information Group - India
- Trasteel International SA, Italy
- Ceylon Electricity Board - Sri Lanka
- Kobexindo Tractors - Indoneisa
- CNBM International Corporation - China
- New Zealand Coal & Carbon
- Essar Steel Hazira Ltd - India
- Goldman Sachs - Singapore
- Malabar Cements Ltd - India
- CIMB Investment Bank - Malaysia
- Indogreen Group - Indonesia
- IHS Mccloskey Coal Group - USA
- Madhucon Powers Ltd - India
- Rashtriya Ispat Nigam Limited - India
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