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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, 15 January 13
2ND MYANMAR MINING SUMMIT & OFFICIAL HOST MINISTRY OF MINES TO WELCOME OVER 200 DELEGATES NEXT WEEK
Press Release: The Ministry of Mines is hosting the 2nd Myanmar Mining Summit in Yangon on 21-24 January to unravel the local mining climate, prospe ...
Monday, 14 January 13
NEWCASTLE PORT SHIPPED 2.32 PERCENT LESS COAL W/E 14 JANUARY 2013
COALspot.com - Newcastle port in Australia has loaded 3,123,312 MT of thermal and coking coal for week ended 0700 hours 14 January 2013, Newca ...
Monday, 14 January 13
THE COAL MONGOLIA - 2013 OFFICIALLY IN COOPERATION WITH TOP MINING COMPANIES
Press Release: Mongolian first mining portal site Mining.mn has already started its preparation of the International Conference “COAL MONGOLIA ...
Monday, 14 January 13
NTPC INVITES BIDS FOR 500K MT OF IMPORTED COAL
COALspot.com - NTPC Limited (formerly National Thermal Power Corporation) is the largest Indian state-owned electric utilities company called for a ...
Sunday, 13 January 13
THE FREIGHT MARKET: FAIRLY STEADY - VISTAAR
COALspot.com - The freight market was fairly steady with all the indices up with maximum gain in the Panamax segment. The BDI was up by 7.65 pct clo ...
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- Australian Coal Association
- Ministry of Mines - Canada
- Videocon Industries ltd - India
- Posco Energy - South Korea
- Bayan Resources Tbk. - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Gujarat Mineral Development Corp Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Jindal Steel & Power Ltd - India
- Port Waratah Coal Services - Australia
- Kobexindo Tractors - Indoneisa
- Romanian Commodities Exchange
- Sarangani Energy Corporation, Philippines
- Altura Mining Limited, Indonesia
- New Zealand Coal & Carbon
- Pipit Mutiara Jaya. PT, Indonesia
- Wood Mackenzie - Singapore
- Cigading International Bulk Terminal - Indonesia
- Agrawal Coal Company - India
- Krishnapatnam Port Company Ltd. - India
- Minerals Council of Australia
- Electricity Authority, New Zealand
- Kalimantan Lumbung Energi - Indonesia
- Rio Tinto Coal - Australia
- Therma Luzon, Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Grasim Industreis Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Energy Development Corp, Philippines
- San Jose City I Power Corp, Philippines
- Heidelberg Cement - Germany
- Eastern Energy - Thailand
- Mercator Lines Limited - India
- Wilmar Investment Holdings
- Vedanta Resources Plc - India
- Formosa Plastics Group - Taiwan
- Carbofer General Trading SA - India
- Goldman Sachs - Singapore
- ASAPP Information Group - India
- Ind-Barath Power Infra Limited - India
- Essar Steel Hazira Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Siam City Cement - Thailand
- Attock Cement Pakistan Limited
- Marubeni Corporation - India
- Bulk Trading Sa - Switzerland
- Ministry of Transport, Egypt
- Aboitiz Power Corporation - Philippines
- Antam Resourcindo - Indonesia
- The State Trading Corporation of India Ltd
- Interocean Group of Companies - India
- CNBM International Corporation - China
- Orica Australia Pty. Ltd.
- Thiess Contractors Indonesia
- Mintek Dendrill Indonesia
- Metalloyd Limited - United Kingdom
- Kohat Cement Company Ltd. - Pakistan
- Planning Commission, India
- PowerSource Philippines DevCo
- Indonesian Coal Mining Association
- Uttam Galva Steels Limited - India
- Bukit Makmur.PT - Indonesia
- TeaM Sual Corporation - Philippines
- CIMB Investment Bank - Malaysia
- Dalmia Cement Bharat India
- Mercuria Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Lanco Infratech Ltd - India
- White Energy Company Limited
- Banpu Public Company Limited - Thailand
- Kartika Selabumi Mining - Indonesia
- Bhushan Steel Limited - India
- Tamil Nadu electricity Board
- Oldendorff Carriers - Singapore
- Xindia Steels Limited - India
- IEA Clean Coal Centre - UK
- Directorate General of MIneral and Coal - Indonesia
- Indian Oil Corporation Limited
- Borneo Indobara - Indonesia
- GAC Shipping (India) Pvt Ltd
- Makarim & Taira - Indonesia
- Meenaskhi Energy Private Limited - India
- Energy Link Ltd, New Zealand
- Globalindo Alam Lestari - Indonesia
- Kaltim Prima Coal - Indonesia
- Madhucon Powers Ltd - India
- PTC India Limited - India
- Baramulti Group, Indonesia
- PNOC Exploration Corporation - Philippines
- Sical Logistics Limited - India
- Siam City Cement PLC, Thailand
- Jaiprakash Power Ventures ltd
- IHS Mccloskey Coal Group - USA
- Petron Corporation, Philippines
- Semirara Mining Corp, Philippines
- Riau Bara Harum - Indonesia
- Electricity Generating Authority of Thailand
- SMC Global Power, Philippines
- Coal and Oil Company - UAE
- Latin American Coal - Colombia
- Salva Resources Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- SN Aboitiz Power Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Jorong Barutama Greston.PT - Indonesia
- SMG Consultants - Indonesia
- Medco Energi Mining Internasional
- Africa Commodities Group - South Africa
- Holcim Trading Pte Ltd - Singapore
- Economic Council, Georgia
- Sinarmas Energy and Mining - Indonesia
- Power Finance Corporation Ltd., India
- Simpson Spence & Young - Indonesia
- Kideco Jaya Agung - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Bharathi Cement Corporation - India
- Binh Thuan Hamico - Vietnam
- VISA Power Limited - India
- Bhoruka Overseas - Indonesia
- Chamber of Mines of South Africa
- Barasentosa Lestari - Indonesia
- Sindya Power Generating Company Private Ltd
- Bukit Baiduri Energy - Indonesia
- India Bulls Power Limited - India
- International Coal Ventures Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Mjunction Services Limited - India
- Standard Chartered Bank - UAE
- OPG Power Generation Pvt Ltd - India
- Australian Commodity Traders Exchange
- Bahari Cakrawala Sebuku - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Maharashtra Electricity Regulatory Commission - India
- South Luzon Thermal Energy Corporation
- Independent Power Producers Association of India
- Ministry of Finance - Indonesia
- Eastern Coal Council - USA
- Indogreen Group - Indonesia
- Chettinad Cement Corporation Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Deloitte Consulting - India
- Edison Trading Spa - Italy
- McConnell Dowell - Australia
- Kepco SPC Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Renaissance Capital - South Africa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Star Paper Mills Limited - India
- Bangladesh Power Developement Board
- Central Electricity Authority - India
- Anglo American - United Kingdom
- European Bulk Services B.V. - Netherlands
- Kapuas Tunggal Persada - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Straits Asia Resources Limited - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Gujarat Sidhee Cement - India
- Larsen & Toubro Limited - India
- Samtan Co., Ltd - South Korea
- Billiton Holdings Pty Ltd - Australia
- Indika Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Indo Tambangraya Megah - Indonesia
- GVK Power & Infra Limited - India
- Vizag Seaport Private Limited - India
- Iligan Light & Power Inc, Philippines
- Tata Chemicals Ltd - India
- Trasteel International SA, Italy
- Pendopo Energi Batubara - Indonesia
- Malabar Cements Ltd - India
- Aditya Birla Group - India
- Ambuja Cements Ltd - India
- Sojitz Corporation - Japan
- GMR Energy Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- The University of Queensland
- Thai Mozambique Logistica
- Karbindo Abesyapradhi - Indoneisa
- Sakthi Sugars Limited - India
- Georgia Ports Authority, United States
- Bhatia International Limited - India
- Global Business Power Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Central Java Power - Indonesia
- ICICI Bank Limited - India
- Savvy Resources Ltd - HongKong
- Cement Manufacturers Association - India
- Global Coal Blending Company Limited - Australia
- Directorate Of Revenue Intelligence - India
- Ceylon Electricity Board - Sri Lanka
- London Commodity Brokers - England
- Parry Sugars Refinery, India
- Orica Mining Services - Indonesia
- Price Waterhouse Coopers - Russia
- The Treasury - Australian Government
- Indian Energy Exchange, India
- Intertek Mineral Services - Indonesia
- Coastal Gujarat Power Limited - India
- Meralco Power Generation, Philippines
- Toyota Tsusho Corporation, Japan
- Singapore Mercantile Exchange
- Semirara Mining and Power Corporation, Philippines
- Coalindo Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Merrill Lynch Commodities Europe
- Parliament of New Zealand
- Commonwealth Bank - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Miang Besar Coal Terminal - Indonesia
- Kumho Petrochemical, South Korea
- MS Steel International - UAE
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