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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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Monday, 24 December 12
CONSTITUTIONAL COURT DECISION MAY FURTHER DELAY THE ISSUANCE OF NEW MINING BUSINESS LICENCES - TJEN SHE SIUNG
COALspot.com - In November 2012 the Constitutional Court of Indonesia issued a decision on amendments to certain provisions under the Mining Law No. ...
Monday, 24 December 12
BUNKER PRICES TO CONTINUE RISING, ALBEIT IN A SLOWER MODE, DURING THE NEXT FEW YEARS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEW
In a recent report, US-based consulting firm Mcquilling Services attempted to forecast the course of bunker prices during the next few years, as thi ...
Sunday, 23 December 12
Q4' 2013 CFR SOUTH CHINA COAL SWAP, US$ 3.40 HIGHER COMPARED TO Q1' 2013 PRICE
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for average Q1’ 2013 delivery gained 1.94 percent M-M and WoW by 1.57percent but lost 0.35 ...
Saturday, 22 December 12
SECOND HAND VESSELS ENJOY HIGH DEMAND AS PRICES ARE ATTRACTIVE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Despite the fact that the year is closing to its end, activity in the second hand vessel market has been more than high. Ship owners are looking to ...
Saturday, 22 December 12
FALL IN CAPE AND PANAMAX RATES DRAG BDI INDEX - VISTAAR
COALspot.com - The freight market further softened this week closing at 700 points (down by 10.71 pct). The cape index continued to fall and w ...
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- Videocon Industries ltd - India
- Mjunction Services Limited - India
- Leighton Contractors Pty Ltd - Australia
- Kepco SPC Power Corporation, Philippines
- Ambuja Cements Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- European Bulk Services B.V. - Netherlands
- Pipit Mutiara Jaya. PT, Indonesia
- Bhushan Steel Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Altura Mining Limited, Indonesia
- Planning Commission, India
- Jindal Steel & Power Ltd - India
- Globalindo Alam Lestari - Indonesia
- PTC India Limited - India
- Posco Energy - South Korea
- Toyota Tsusho Corporation, Japan
- Thiess Contractors Indonesia
- LBH Netherlands Bv - Netherlands
- Kohat Cement Company Ltd. - Pakistan
- Riau Bara Harum - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Gujarat Mineral Development Corp Ltd - India
- Georgia Ports Authority, United States
- Global Coal Blending Company Limited - Australia
- Sical Logistics Limited - India
- Straits Asia Resources Limited - Singapore
- CIMB Investment Bank - Malaysia
- VISA Power Limited - India
- Rashtriya Ispat Nigam Limited - India
- Rio Tinto Coal - Australia
- Anglo American - United Kingdom
- Aditya Birla Group - India
- Minerals Council of Australia
- Chamber of Mines of South Africa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kalimantan Lumbung Energi - Indonesia
- ICICI Bank Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Carbofer General Trading SA - India
- Bharathi Cement Corporation - India
- International Coal Ventures Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- PowerSource Philippines DevCo
- Energy Development Corp, Philippines
- Mintek Dendrill Indonesia
- Petron Corporation, Philippines
- Makarim & Taira - Indonesia
- Mercator Lines Limited - India
- Malabar Cements Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Electricity Generating Authority of Thailand
- Cement Manufacturers Association - India
- Karaikal Port Pvt Ltd - India
- Coal and Oil Company - UAE
- India Bulls Power Limited - India
- Kideco Jaya Agung - Indonesia
- CNBM International Corporation - China
- Bukit Baiduri Energy - Indonesia
- Medco Energi Mining Internasional
- Mercuria Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Savvy Resources Ltd - HongKong
- Maheswari Brothers Coal Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Borneo Indobara - Indonesia
- Coastal Gujarat Power Limited - India
- Energy Link Ltd, New Zealand
- McConnell Dowell - Australia
- Australian Coal Association
- Gujarat Sidhee Cement - India
- Electricity Authority, New Zealand
- Sree Jayajothi Cements Limited - India
- Kartika Selabumi Mining - Indonesia
- Therma Luzon, Inc, Philippines
- Commonwealth Bank - Australia
- Metalloyd Limited - United Kingdom
- Lanco Infratech Ltd - India
- GVK Power & Infra Limited - India
- Banpu Public Company Limited - Thailand
- Interocean Group of Companies - India
- MS Steel International - UAE
- Ministry of Finance - Indonesia
- Timah Investasi Mineral - Indoneisa
- Sindya Power Generating Company Private Ltd
- Chettinad Cement Corporation Ltd - India
- Bangladesh Power Developement Board
- Standard Chartered Bank - UAE
- Global Green Power PLC Corporation, Philippines
- The State Trading Corporation of India Ltd
- OPG Power Generation Pvt Ltd - India
- Baramulti Group, Indonesia
- Wilmar Investment Holdings
- Meralco Power Generation, Philippines
- Wood Mackenzie - Singapore
- The University of Queensland
- Sojitz Corporation - Japan
- GAC Shipping (India) Pvt Ltd
- Thai Mozambique Logistica
- Edison Trading Spa - Italy
- Attock Cement Pakistan Limited
- Eastern Energy - Thailand
- Global Business Power Corporation, Philippines
- Africa Commodities Group - South Africa
- Sinarmas Energy and Mining - Indonesia
- Australian Commodity Traders Exchange
- Cigading International Bulk Terminal - Indonesia
- Independent Power Producers Association of India
- Latin American Coal - Colombia
- PNOC Exploration Corporation - Philippines
- Tamil Nadu electricity Board
- Bayan Resources Tbk. - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Coalindo Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- AsiaOL BioFuels Corp., Philippines
- South Luzon Thermal Energy Corporation
- Jaiprakash Power Ventures ltd
- Iligan Light & Power Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- SMC Global Power, Philippines
- SMG Consultants - Indonesia
- Goldman Sachs - Singapore
- Singapore Mercantile Exchange
- Dalmia Cement Bharat India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Power Finance Corporation Ltd., India
- Directorate Of Revenue Intelligence - India
- Pendopo Energi Batubara - Indonesia
- Indonesian Coal Mining Association
- Indika Energy - Indonesia
- White Energy Company Limited
- TeaM Sual Corporation - Philippines
- Karbindo Abesyapradhi - Indoneisa
- Siam City Cement - Thailand
- Alfred C Toepfer International GmbH - Germany
- San Jose City I Power Corp, Philippines
- IHS Mccloskey Coal Group - USA
- Antam Resourcindo - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Deloitte Consulting - India
- Formosa Plastics Group - Taiwan
- Parliament of New Zealand
- Samtan Co., Ltd - South Korea
- Sakthi Sugars Limited - India
- Manunggal Multi Energi - Indonesia
- Vizag Seaport Private Limited - India
- Star Paper Mills Limited - India
- Oldendorff Carriers - Singapore
- Agrawal Coal Company - India
- Meenaskhi Energy Private Limited - India
- Siam City Cement PLC, Thailand
- New Zealand Coal & Carbon
- IEA Clean Coal Centre - UK
- Kaltim Prima Coal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Central Electricity Authority - India
- Indian Oil Corporation Limited
- Romanian Commodities Exchange
- GMR Energy Limited - India
- Merrill Lynch Commodities Europe
- Salva Resources Pvt Ltd - India
- Xindia Steels Limited - India
- Ministry of Mines - Canada
- Economic Council, Georgia
- Indian Energy Exchange, India
- Trasteel International SA, Italy
- Neyveli Lignite Corporation Ltd, - India
- The Treasury - Australian Government
- Grasim Industreis Ltd - India
- Semirara Mining Corp, Philippines
- Heidelberg Cement - Germany
- Bhatia International Limited - India
- Miang Besar Coal Terminal - Indonesia
- Renaissance Capital - South Africa
- Simpson Spence & Young - Indonesia
- Intertek Mineral Services - Indonesia
- Kobexindo Tractors - Indoneisa
- Larsen & Toubro Limited - India
- Ind-Barath Power Infra Limited - India
- Marubeni Corporation - India
- Tata Chemicals Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Sarangani Energy Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Orica Mining Services - Indonesia
- Binh Thuan Hamico - Vietnam
- Port Waratah Coal Services - Australia
- Central Java Power - Indonesia
- Bukit Makmur.PT - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Holcim Trading Pte Ltd - Singapore
- Parry Sugars Refinery, India
- Eastern Coal Council - USA
- Barasentosa Lestari - Indonesia
- London Commodity Brokers - England
- Indo Tambangraya Megah - Indonesia
- Essar Steel Hazira Ltd - India
- Orica Australia Pty. Ltd.
- Bahari Cakrawala Sebuku - Indonesia
- Madhucon Powers Ltd - India
- Price Waterhouse Coopers - Russia
- Directorate General of MIneral and Coal - Indonesia
- Indogreen Group - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Ceylon Electricity Board - Sri Lanka
- Uttam Galva Steels Limited - India
- ASAPP Information Group - India
- Kumho Petrochemical, South Korea
- SN Aboitiz Power Inc, Philippines
- Vedanta Resources Plc - India
- Billiton Holdings Pty Ltd - Australia
- Ministry of Transport, Egypt
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