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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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Thursday, 24 January 13
DRY BULK MARKET FALLS ON TROPICAL CYCLONE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market has been on the downside during the past couple of days, mainly as a result of the tropical storm which forced ports to close do ...
Tuesday, 22 January 13
PORT OF ANTWERP HANDLES 7.0 PERCENT MORE COAL IN 2012 Y-Y
COALspot.com - The port of Antwerp handled 184,134,516 tonnes of freight last year.
This represents a drop of 1.6% compared with 2011, when the v ...
Monday, 21 January 13
NEWCASTLE PORT SHIPPED 10.21 PERCENT LESS COAL W/E 21 JANUARY 2013
COALspot.com - Newcastle port in Australia has loaded 2,804,152 MT of thermal and coking coal for week ended 0700 hours 21 January 2013, Newca ...
Monday, 21 January 13
PANAMAX DRY BULK CARRIERS AND AFRAMAX TANKERS PROVED TO BE THE "WEAPON OF CHOICE" FOR MOST SHIP OWNERS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
With ship financing getting ever so difficult to procure during the past year or so, ship owners had to get creative in order to persuade banks and ...
Sunday, 20 January 13
Q1 & Q4 SUB-BIT FOB INDONESIA COAL SWAPS: FIRM
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) and CFR South China coal shipment for average Q1’ 2013 delivery have gained 0.81percent and ...
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- Malabar Cements Ltd - India
- Thai Mozambique Logistica
- Asmin Koalindo Tuhup - Indonesia
- Oldendorff Carriers - Singapore
- Eastern Coal Council - USA
- Leighton Contractors Pty Ltd - Australia
- Directorate General of MIneral and Coal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Sojitz Corporation - Japan
- Vijayanagar Sugar Pvt Ltd - India
- ICICI Bank Limited - India
- Bhoruka Overseas - Indonesia
- Agrawal Coal Company - India
- India Bulls Power Limited - India
- Indian Oil Corporation Limited
- Ministry of Transport, Egypt
- Sinarmas Energy and Mining - Indonesia
- Meenaskhi Energy Private Limited - India
- McConnell Dowell - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Goldman Sachs - Singapore
- Ceylon Electricity Board - Sri Lanka
- Power Finance Corporation Ltd., India
- South Luzon Thermal Energy Corporation
- Borneo Indobara - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Straits Asia Resources Limited - Singapore
- Larsen & Toubro Limited - India
- Energy Link Ltd, New Zealand
- Star Paper Mills Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Aditya Birla Group - India
- AsiaOL BioFuels Corp., Philippines
- Bangladesh Power Developement Board
- Manunggal Multi Energi - Indonesia
- Global Green Power PLC Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Eastern Energy - Thailand
- Indian Energy Exchange, India
- Bhatia International Limited - India
- Rashtriya Ispat Nigam Limited - India
- Holcim Trading Pte Ltd - Singapore
- Romanian Commodities Exchange
- Singapore Mercantile Exchange
- GN Power Mariveles Coal Plant, Philippines
- Ambuja Cements Ltd - India
- Parry Sugars Refinery, India
- Vedanta Resources Plc - India
- ASAPP Information Group - India
- Barasentosa Lestari - Indonesia
- Karaikal Port Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Jindal Steel & Power Ltd - India
- VISA Power Limited - India
- Antam Resourcindo - Indonesia
- Bharathi Cement Corporation - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Xindia Steels Limited - India
- Renaissance Capital - South Africa
- Energy Development Corp, Philippines
- European Bulk Services B.V. - Netherlands
- Heidelberg Cement - Germany
- TeaM Sual Corporation - Philippines
- CIMB Investment Bank - Malaysia
- Price Waterhouse Coopers - Russia
- Mercator Lines Limited - India
- Trasteel International SA, Italy
- Tata Chemicals Ltd - India
- Orica Mining Services - Indonesia
- Wood Mackenzie - Singapore
- Ministry of Mines - Canada
- Sarangani Energy Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Central Electricity Authority - India
- Makarim & Taira - Indonesia
- Medco Energi Mining Internasional
- Sical Logistics Limited - India
- Economic Council, Georgia
- Mintek Dendrill Indonesia
- Chettinad Cement Corporation Ltd - India
- Grasim Industreis Ltd - India
- Timah Investasi Mineral - Indoneisa
- Essar Steel Hazira Ltd - India
- White Energy Company Limited
- Gujarat Sidhee Cement - India
- Parliament of New Zealand
- Directorate Of Revenue Intelligence - India
- MS Steel International - UAE
- Petron Corporation, Philippines
- Mjunction Services Limited - India
- Indogreen Group - Indonesia
- Indonesian Coal Mining Association
- Dalmia Cement Bharat India
- Coastal Gujarat Power Limited - India
- Carbofer General Trading SA - India
- Bayan Resources Tbk. - Indonesia
- London Commodity Brokers - England
- Toyota Tsusho Corporation, Japan
- Pendopo Energi Batubara - Indonesia
- International Coal Ventures Pvt Ltd - India
- Indika Energy - Indonesia
- Minerals Council of Australia
- OPG Power Generation Pvt Ltd - India
- Baramulti Group, Indonesia
- Miang Besar Coal Terminal - Indonesia
- Uttam Galva Steels Limited - India
- Salva Resources Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Mercuria Energy - Indonesia
- Vizag Seaport Private Limited - India
- IEA Clean Coal Centre - UK
- SMC Global Power, Philippines
- Samtan Co., Ltd - South Korea
- Lanco Infratech Ltd - India
- Kepco SPC Power Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Electricity Generating Authority of Thailand
- Global Business Power Corporation, Philippines
- Videocon Industries ltd - India
- Independent Power Producers Association of India
- Tamil Nadu electricity Board
- Anglo American - United Kingdom
- Orica Australia Pty. Ltd.
- Semirara Mining and Power Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Siam City Cement PLC, Thailand
- GVK Power & Infra Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- SN Aboitiz Power Inc, Philippines
- Thiess Contractors Indonesia
- Billiton Holdings Pty Ltd - Australia
- Indo Tambangraya Megah - Indonesia
- Kumho Petrochemical, South Korea
- Siam City Cement - Thailand
- Wilmar Investment Holdings
- Binh Thuan Hamico - Vietnam
- Kobexindo Tractors - Indoneisa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- The University of Queensland
- Chamber of Mines of South Africa
- Rio Tinto Coal - Australia
- GMR Energy Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Cement Manufacturers Association - India
- Africa Commodities Group - South Africa
- Cigading International Bulk Terminal - Indonesia
- Iligan Light & Power Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Riau Bara Harum - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Sindya Power Generating Company Private Ltd
- Therma Luzon, Inc, Philippines
- Australian Commodity Traders Exchange
- Commonwealth Bank - Australia
- The Treasury - Australian Government
- Bukit Makmur.PT - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Australian Coal Association
- PNOC Exploration Corporation - Philippines
- Bhushan Steel Limited - India
- Posco Energy - South Korea
- Coal and Oil Company - UAE
- Altura Mining Limited, Indonesia
- SMG Consultants - Indonesia
- Globalindo Alam Lestari - Indonesia
- Interocean Group of Companies - India
- Kapuas Tunggal Persada - Indonesia
- Central Java Power - Indonesia
- Marubeni Corporation - India
- Meralco Power Generation, Philippines
- Edison Trading Spa - Italy
- Bahari Cakrawala Sebuku - Indonesia
- Aboitiz Power Corporation - Philippines
- Sakthi Sugars Limited - India
- Electricity Authority, New Zealand
- Merrill Lynch Commodities Europe
- Standard Chartered Bank - UAE
- New Zealand Coal & Carbon
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Coalindo Energy - Indonesia
- Savvy Resources Ltd - HongKong
- PowerSource Philippines DevCo
- LBH Netherlands Bv - Netherlands
- San Jose City I Power Corp, Philippines
- Kartika Selabumi Mining - Indonesia
- CNBM International Corporation - China
- Sree Jayajothi Cements Limited - India
- Madhucon Powers Ltd - India
- GAC Shipping (India) Pvt Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bulk Trading Sa - Switzerland
- Global Coal Blending Company Limited - Australia
- The State Trading Corporation of India Ltd
- PTC India Limited - India
- Formosa Plastics Group - Taiwan
- Kaltim Prima Coal - Indonesia
- Port Waratah Coal Services - Australia
- Ministry of Finance - Indonesia
- Semirara Mining Corp, Philippines
- Krishnapatnam Port Company Ltd. - India
- Karbindo Abesyapradhi - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- Planning Commission, India
- Latin American Coal - Colombia
- Attock Cement Pakistan Limited
- Gujarat Electricity Regulatory Commission - India
- Banpu Public Company Limited - Thailand
- Georgia Ports Authority, United States
- Kalimantan Lumbung Energi - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Jaiprakash Power Ventures ltd
- Deloitte Consulting - India
- Maheswari Brothers Coal Limited - India
- IHS Mccloskey Coal Group - USA
- Simpson Spence & Young - Indonesia
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