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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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Tuesday, 06 August 13
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- Globalindo Alam Lestari - Indonesia
- Kideco Jaya Agung - Indonesia
- GMR Energy Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Maheswari Brothers Coal Limited - India
- Kartika Selabumi Mining - Indonesia
- Carbofer General Trading SA - India
- Bhatia International Limited - India
- Meralco Power Generation, Philippines
- Medco Energi Mining Internasional
- Savvy Resources Ltd - HongKong
- Toyota Tsusho Corporation, Japan
- Banpu Public Company Limited - Thailand
- Rashtriya Ispat Nigam Limited - India
- SMC Global Power, Philippines
- IHS Mccloskey Coal Group - USA
- Karbindo Abesyapradhi - Indoneisa
- AsiaOL BioFuels Corp., Philippines
- Goldman Sachs - Singapore
- Kumho Petrochemical, South Korea
- Gujarat Sidhee Cement - India
- GVK Power & Infra Limited - India
- Petron Corporation, Philippines
- Borneo Indobara - Indonesia
- Central Java Power - Indonesia
- Indian Energy Exchange, India
- Indian Oil Corporation Limited
- Therma Luzon, Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Eastern Coal Council - USA
- San Jose City I Power Corp, Philippines
- Madhucon Powers Ltd - India
- Bulk Trading Sa - Switzerland
- Bukit Asam (Persero) Tbk - Indonesia
- Antam Resourcindo - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sarangani Energy Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Central Electricity Authority - India
- Singapore Mercantile Exchange
- Bharathi Cement Corporation - India
- TeaM Sual Corporation - Philippines
- Indika Energy - Indonesia
- Mercuria Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Dalmia Cement Bharat India
- Pendopo Energi Batubara - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Renaissance Capital - South Africa
- Australian Commodity Traders Exchange
- Electricity Authority, New Zealand
- Gujarat Electricity Regulatory Commission - India
- The State Trading Corporation of India Ltd
- Star Paper Mills Limited - India
- International Coal Ventures Pvt Ltd - India
- Georgia Ports Authority, United States
- Indo Tambangraya Megah - Indonesia
- Riau Bara Harum - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Directorate Of Revenue Intelligence - India
- McConnell Dowell - Australia
- Leighton Contractors Pty Ltd - Australia
- Altura Mining Limited, Indonesia
- OPG Power Generation Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Indogreen Group - Indonesia
- Cement Manufacturers Association - India
- Chettinad Cement Corporation Ltd - India
- Timah Investasi Mineral - Indoneisa
- Independent Power Producers Association of India
- Kalimantan Lumbung Energi - Indonesia
- Agrawal Coal Company - India
- Directorate General of MIneral and Coal - Indonesia
- Simpson Spence & Young - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Iligan Light & Power Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Parliament of New Zealand
- ASAPP Information Group - India
- Maharashtra Electricity Regulatory Commission - India
- Ambuja Cements Ltd - India
- Power Finance Corporation Ltd., India
- Billiton Holdings Pty Ltd - Australia
- The University of Queensland
- Vizag Seaport Private Limited - India
- Malabar Cements Ltd - India
- Romanian Commodities Exchange
- Lanco Infratech Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- ICICI Bank Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Merrill Lynch Commodities Europe
- Grasim Industreis Ltd - India
- Barasentosa Lestari - Indonesia
- Coastal Gujarat Power Limited - India
- Indonesian Coal Mining Association
- MS Steel International - UAE
- Parry Sugars Refinery, India
- Sojitz Corporation - Japan
- Australian Coal Association
- New Zealand Coal & Carbon
- Bhushan Steel Limited - India
- Vedanta Resources Plc - India
- Minerals Council of Australia
- Ministry of Finance - Indonesia
- Economic Council, Georgia
- European Bulk Services B.V. - Netherlands
- Mintek Dendrill Indonesia
- Orica Mining Services - Indonesia
- Samtan Co., Ltd - South Korea
- Latin American Coal - Colombia
- Planning Commission, India
- Kaltim Prima Coal - Indonesia
- Standard Chartered Bank - UAE
- Port Waratah Coal Services - Australia
- Global Green Power PLC Corporation, Philippines
- The Treasury - Australian Government
- Kapuas Tunggal Persada - Indonesia
- Heidelberg Cement - Germany
- Miang Besar Coal Terminal - Indonesia
- Uttam Galva Steels Limited - India
- Aditya Birla Group - India
- Wood Mackenzie - Singapore
- PTC India Limited - India
- Meenaskhi Energy Private Limited - India
- Orica Australia Pty. Ltd.
- Deloitte Consulting - India
- Semirara Mining Corp, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Chamber of Mines of South Africa
- Ind-Barath Power Infra Limited - India
- Anglo American - United Kingdom
- Interocean Group of Companies - India
- CIMB Investment Bank - Malaysia
- Price Waterhouse Coopers - Russia
- Sical Logistics Limited - India
- Wilmar Investment Holdings
- Edison Trading Spa - Italy
- Videocon Industries ltd - India
- LBH Netherlands Bv - Netherlands
- Binh Thuan Hamico - Vietnam
- Thai Mozambique Logistica
- Bangladesh Power Developement Board
- Energy Development Corp, Philippines
- London Commodity Brokers - England
- Jaiprakash Power Ventures ltd
- Manunggal Multi Energi - Indonesia
- Tamil Nadu electricity Board
- Sindya Power Generating Company Private Ltd
- Oldendorff Carriers - Singapore
- IEA Clean Coal Centre - UK
- Tata Chemicals Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Bhoruka Overseas - Indonesia
- India Bulls Power Limited - India
- PowerSource Philippines DevCo
- Commonwealth Bank - Australia
- Posco Energy - South Korea
- Jindal Steel & Power Ltd - India
- Ministry of Transport, Egypt
- Attock Cement Pakistan Limited
- Metalloyd Limited - United Kingdom
- Rio Tinto Coal - Australia
- Trasteel International SA, Italy
- White Energy Company Limited
- Global Coal Blending Company Limited - Australia
- GN Power Mariveles Coal Plant, Philippines
- Formosa Plastics Group - Taiwan
- CNBM International Corporation - China
- Africa Commodities Group - South Africa
- Aboitiz Power Corporation - Philippines
- Eastern Energy - Thailand
- Neyveli Lignite Corporation Ltd, - India
- Energy Link Ltd, New Zealand
- Jorong Barutama Greston.PT - Indonesia
- Sakthi Sugars Limited - India
- Thiess Contractors Indonesia
- Kepco SPC Power Corporation, Philippines
- Coalindo Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Sree Jayajothi Cements Limited - India
- VISA Power Limited - India
- Marubeni Corporation - India
- Mercator Lines Limited - India
- Kobexindo Tractors - Indoneisa
- Asmin Koalindo Tuhup - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Makarim & Taira - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Holcim Trading Pte Ltd - Singapore
- GAC Shipping (India) Pvt Ltd
- SMG Consultants - Indonesia
- Salva Resources Pvt Ltd - India
- Xindia Steels Limited - India
- Siam City Cement PLC, Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Mjunction Services Limited - India
- Ministry of Mines - Canada
- Bukit Baiduri Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Intertek Mineral Services - Indonesia
- Siam City Cement - Thailand
- Baramulti Group, Indonesia
- Essar Steel Hazira Ltd - India
- Bukit Makmur.PT - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Larsen & Toubro Limited - India
- Bayan Resources Tbk. - Indonesia
- Coal and Oil Company - UAE
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