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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, 10 March 13
INDIA - INDONESIA SUPRAMAX FREIGHT : FIRM TREND
COALspot.com – This week freight market was raised and remained firm in all segments.
The BDI was up by 6.70 pct closed at 843 points, ...
Sunday, 10 March 13
INDONESIA'S FORESTRY DEPARTMENT IS TO INCREASE BORROW-TO-USE PERMITS (IJIN PINJAM PAKAI) FEE SOON
COALspot.com : Indonesia to increase borrows-to-use permit fees by 33.33 percent. The government of Indonesia is planning to increase the state&rsqu ...
Friday, 08 March 13
EKO SANTOSO BUDIANTO APPOINTED AS PRESDIENT DIRECTOR OF BERAU COAL ENERGY
COALspot.com - PT Berau Coal Energy has appointed Eko Santoso Budianto as new president director, replacing Rosan Roeslani. Berau’s extraordin ...
Friday, 08 March 13
INDONESIAN HBA UP FOR FIVE CONSECUTIVE MONTHS
COALspot.com - The Indonesian government has declared bench mark price for coal has moved upwards in March 2013.
The monthly coal reference ...
Friday, 08 March 13
DRY BULK MARKET ON A RISING TREND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has continued its rising pattern set after China opened up again for business, following the Asian New Year Holidays. As a resul ...
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- Renaissance Capital - South Africa
- OPG Power Generation Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Kepco SPC Power Corporation, Philippines
- Latin American Coal - Colombia
- Siam City Cement PLC, Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Ambuja Cements Ltd - India
- MS Steel International - UAE
- South Luzon Thermal Energy Corporation
- Aditya Birla Group - India
- Meralco Power Generation, Philippines
- Makarim & Taira - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Meenaskhi Energy Private Limited - India
- Malabar Cements Ltd - India
- IEA Clean Coal Centre - UK
- Australian Commodity Traders Exchange
- Samtan Co., Ltd - South Korea
- Minerals Council of Australia
- GAC Shipping (India) Pvt Ltd
- Larsen & Toubro Limited - India
- Edison Trading Spa - Italy
- Port Waratah Coal Services - Australia
- Independent Power Producers Association of India
- Salva Resources Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Indian Oil Corporation Limited
- Xindia Steels Limited - India
- Riau Bara Harum - Indonesia
- Borneo Indobara - Indonesia
- Indonesian Coal Mining Association
- VISA Power Limited - India
- Singapore Mercantile Exchange
- Central Java Power - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Chettinad Cement Corporation Ltd - India
- GMR Energy Limited - India
- Semirara Mining and Power Corporation, Philippines
- Altura Mining Limited, Indonesia
- London Commodity Brokers - England
- Medco Energi Mining Internasional
- Sree Jayajothi Cements Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Indogreen Group - Indonesia
- Vizag Seaport Private Limited - India
- Eastern Energy - Thailand
- Sindya Power Generating Company Private Ltd
- Dalmia Cement Bharat India
- Petron Corporation, Philippines
- Bharathi Cement Corporation - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- LBH Netherlands Bv - Netherlands
- PNOC Exploration Corporation - Philippines
- IHS Mccloskey Coal Group - USA
- Vijayanagar Sugar Pvt Ltd - India
- Coal and Oil Company - UAE
- Sarangani Energy Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- White Energy Company Limited
- Bulk Trading Sa - Switzerland
- European Bulk Services B.V. - Netherlands
- Electricity Authority, New Zealand
- Simpson Spence & Young - Indonesia
- SMG Consultants - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Binh Thuan Hamico - Vietnam
- Kumho Petrochemical, South Korea
- Tamil Nadu electricity Board
- Maharashtra Electricity Regulatory Commission - India
- Energy Link Ltd, New Zealand
- Goldman Sachs - Singapore
- Africa Commodities Group - South Africa
- Billiton Holdings Pty Ltd - Australia
- PTC India Limited - India
- Wilmar Investment Holdings
- Heidelberg Cement - Germany
- Iligan Light & Power Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Alfred C Toepfer International GmbH - Germany
- Krishnapatnam Port Company Ltd. - India
- SMC Global Power, Philippines
- Sinarmas Energy and Mining - Indonesia
- Deloitte Consulting - India
- Maheswari Brothers Coal Limited - India
- The Treasury - Australian Government
- SN Aboitiz Power Inc, Philippines
- Orica Mining Services - Indonesia
- Ministry of Mines - Canada
- Gujarat Sidhee Cement - India
- Central Electricity Authority - India
- Mercator Lines Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Banpu Public Company Limited - Thailand
- Indo Tambangraya Megah - Indonesia
- Planning Commission, India
- PetroVietnam Power Coal Import and Supply Company
- Georgia Ports Authority, United States
- Barasentosa Lestari - Indonesia
- Thiess Contractors Indonesia
- Siam City Cement - Thailand
- Jorong Barutama Greston.PT - Indonesia
- Carbofer General Trading SA - India
- Indian Energy Exchange, India
- Mjunction Services Limited - India
- Globalindo Alam Lestari - Indonesia
- Marubeni Corporation - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Therma Luzon, Inc, Philippines
- Economic Council, Georgia
- Videocon Industries ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- ASAPP Information Group - India
- Semirara Mining Corp, Philippines
- Rashtriya Ispat Nigam Limited - India
- Commonwealth Bank - Australia
- Directorate Of Revenue Intelligence - India
- Standard Chartered Bank - UAE
- ICICI Bank Limited - India
- Australian Coal Association
- GN Power Mariveles Coal Plant, Philippines
- AsiaOL BioFuels Corp., Philippines
- International Coal Ventures Pvt Ltd - India
- Mercuria Energy - Indonesia
- Bangladesh Power Developement Board
- Agrawal Coal Company - India
- Intertek Mineral Services - Indonesia
- Grasim Industreis Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Toyota Tsusho Corporation, Japan
- GVK Power & Infra Limited - India
- Baramulti Group, Indonesia
- Tata Chemicals Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Manunggal Multi Energi - Indonesia
- India Bulls Power Limited - India
- Eastern Coal Council - USA
- Orica Australia Pty. Ltd.
- Global Green Power PLC Corporation, Philippines
- New Zealand Coal & Carbon
- Chamber of Mines of South Africa
- Cigading International Bulk Terminal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Thai Mozambique Logistica
- Coalindo Energy - Indonesia
- Sojitz Corporation - Japan
- Star Paper Mills Limited - India
- Pendopo Energi Batubara - Indonesia
- Aboitiz Power Corporation - Philippines
- Merrill Lynch Commodities Europe
- Lanco Infratech Ltd - India
- Price Waterhouse Coopers - Russia
- Formosa Plastics Group - Taiwan
- Gujarat Electricity Regulatory Commission - India
- Sakthi Sugars Limited - India
- Essar Steel Hazira Ltd - India
- Sical Logistics Limited - India
- Indika Energy - Indonesia
- Rio Tinto Coal - Australia
- Wood Mackenzie - Singapore
- Bhushan Steel Limited - India
- Power Finance Corporation Ltd., India
- Kalimantan Lumbung Energi - Indonesia
- Cement Manufacturers Association - India
- Oldendorff Carriers - Singapore
- PowerSource Philippines DevCo
- Kaltim Prima Coal - Indonesia
- Posco Energy - South Korea
- Ministry of Finance - Indonesia
- Kobexindo Tractors - Indoneisa
- Miang Besar Coal Terminal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Metalloyd Limited - United Kingdom
- Anglo American - United Kingdom
- Attock Cement Pakistan Limited
- The University of Queensland
- CNBM International Corporation - China
- Trasteel International SA, Italy
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Vedanta Resources Plc - India
- The State Trading Corporation of India Ltd
- Directorate General of MIneral and Coal - Indonesia
- Romanian Commodities Exchange
- CIMB Investment Bank - Malaysia
- Karaikal Port Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Mintek Dendrill Indonesia
- Timah Investasi Mineral - Indoneisa
- Straits Asia Resources Limited - Singapore
- San Jose City I Power Corp, Philippines
- McConnell Dowell - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- TeaM Sual Corporation - Philippines
- Bhoruka Overseas - Indonesia
- Ministry of Transport, Egypt
- Madhucon Powers Ltd - India
- Parliament of New Zealand
- Savvy Resources Ltd - HongKong
- Bhatia International Limited - India
- Global Coal Blending Company Limited - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Antam Resourcindo - Indonesia
- Interocean Group of Companies - India
- Coastal Gujarat Power Limited - India
- Bayan Resources Tbk. - Indonesia
- Parry Sugars Refinery, India
- Jaiprakash Power Ventures ltd
- TNB Fuel Sdn Bhd - Malaysia
- Global Business Power Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Energy Development Corp, Philippines
- Electricity Generating Authority of Thailand
- Asmin Koalindo Tuhup - Indonesia
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