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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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Friday, 07 December 12
A NEW PHASE FOR AUSTRALIAN RESOURCES - A FITCH STREET INTERVIEW
This week Matt Jamieson spoke with Andrew Colquhoun in Fitch's Asian sovereign rating team, and Vicky Melbourne, Fitch's commodity analyst based i ...
Friday, 07 December 12
SHIPPING INDUSTRY LOOKING ON YET ANOTHER TOUGH YEAR AS WE APPROACH 2013 - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With shipping finance "on the ropes" as traditional lenders appear to be cutting their losses and tonnage oversupply still the most import ...
Thursday, 06 December 12
PANAMAX : THE POSITIVE VIBES IN THE ATLANTIC REMAINS - FEARNLEYS AS
Handy
The Atlantic market is still depressed with dearth of cargoes and more ships. The trips from Continent to Feast fixed around USD 12k. Trips f ...
Thursday, 06 December 12
STRONG CHINESE DEMAND FOR DRY BULK COMMODITIES EXPECTED FOR 2013 - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
A new analysis from BIMCO released yesterday suggests that 2013 is expected to be a stronger year in terms of China's "hunger" for commod ...
Tuesday, 04 December 12
JATENERGY SIGNS MOU FOR INDONESIAN COAL ASSET
COALspot.com - Jatenergy Limited has announced that its fully-owned Indonesian subsidiary, PT Barata Energy (BE), has signed an exclusive, non-bindi ...
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- Madhucon Powers Ltd - India
- Standard Chartered Bank - UAE
- Bhatia International Limited - India
- Anglo American - United Kingdom
- SMC Global Power, Philippines
- Chettinad Cement Corporation Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Leighton Contractors Pty Ltd - Australia
- SMG Consultants - Indonesia
- McConnell Dowell - Australia
- Toyota Tsusho Corporation, Japan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Electricity Authority, New Zealand
- Port Waratah Coal Services - Australia
- Deloitte Consulting - India
- Ministry of Finance - Indonesia
- Power Finance Corporation Ltd., India
- London Commodity Brokers - England
- Marubeni Corporation - India
- Bukit Asam (Persero) Tbk - Indonesia
- Lanco Infratech Ltd - India
- Uttam Galva Steels Limited - India
- CIMB Investment Bank - Malaysia
- Mercuria Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Iligan Light & Power Inc, Philippines
- Thiess Contractors Indonesia
- European Bulk Services B.V. - Netherlands
- Directorate Of Revenue Intelligence - India
- Rio Tinto Coal - Australia
- Kohat Cement Company Ltd. - Pakistan
- GVK Power & Infra Limited - India
- Banpu Public Company Limited - Thailand
- Essar Steel Hazira Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Jindal Steel & Power Ltd - India
- Meralco Power Generation, Philippines
- Orica Mining Services - Indonesia
- Makarim & Taira - Indonesia
- Xindia Steels Limited - India
- Thai Mozambique Logistica
- Bangladesh Power Developement Board
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Interocean Group of Companies - India
- OPG Power Generation Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Directorate General of MIneral and Coal - Indonesia
- Bhushan Steel Limited - India
- Riau Bara Harum - Indonesia
- Global Green Power PLC Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Dalmia Cement Bharat India
- Parliament of New Zealand
- Bayan Resources Tbk. - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Siam City Cement PLC, Thailand
- Cigading International Bulk Terminal - Indonesia
- ASAPP Information Group - India
- Parry Sugars Refinery, India
- Simpson Spence & Young - Indonesia
- Coalindo Energy - Indonesia
- Baramulti Group, Indonesia
- GMR Energy Limited - India
- Samtan Co., Ltd - South Korea
- Central Java Power - Indonesia
- Globalindo Alam Lestari - Indonesia
- Coal and Oil Company - UAE
- Kideco Jaya Agung - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Orica Australia Pty. Ltd.
- Aditya Birla Group - India
- Jaiprakash Power Ventures ltd
- Medco Energi Mining Internasional
- Vijayanagar Sugar Pvt Ltd - India
- Renaissance Capital - South Africa
- Edison Trading Spa - Italy
- Coastal Gujarat Power Limited - India
- Wilmar Investment Holdings
- SN Aboitiz Power Inc, Philippines
- Barasentosa Lestari - Indonesia
- IEA Clean Coal Centre - UK
- Central Electricity Authority - India
- Australian Coal Association
- GN Power Mariveles Coal Plant, Philippines
- Economic Council, Georgia
- Petron Corporation, Philippines
- Energy Link Ltd, New Zealand
- Aboitiz Power Corporation - Philippines
- Ind-Barath Power Infra Limited - India
- Merrill Lynch Commodities Europe
- Vedanta Resources Plc - India
- Sindya Power Generating Company Private Ltd
- Sical Logistics Limited - India
- Mercator Lines Limited - India
- Gujarat Electricity Regulatory Commission - India
- The University of Queensland
- Trasteel International SA, Italy
- Billiton Holdings Pty Ltd - Australia
- Sojitz Corporation - Japan
- Gujarat Mineral Development Corp Ltd - India
- Grasim Industreis Ltd - India
- Indonesian Coal Mining Association
- Vizag Seaport Private Limited - India
- Sakthi Sugars Limited - India
- Maheswari Brothers Coal Limited - India
- Bulk Trading Sa - Switzerland
- Bhoruka Overseas - Indonesia
- Meenaskhi Energy Private Limited - India
- South Luzon Thermal Energy Corporation
- Energy Development Corp, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- TeaM Sual Corporation - Philippines
- Krishnapatnam Port Company Ltd. - India
- Georgia Ports Authority, United States
- Timah Investasi Mineral - Indoneisa
- Therma Luzon, Inc, Philippines
- Antam Resourcindo - Indonesia
- Eastern Coal Council - USA
- Savvy Resources Ltd - HongKong
- Formosa Plastics Group - Taiwan
- Miang Besar Coal Terminal - Indonesia
- Goldman Sachs - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Agrawal Coal Company - India
- Malabar Cements Ltd - India
- Kumho Petrochemical, South Korea
- Price Waterhouse Coopers - Russia
- San Jose City I Power Corp, Philippines
- Siam City Cement - Thailand
- Chamber of Mines of South Africa
- Petrochimia International Co. Ltd.- Taiwan
- Indogreen Group - Indonesia
- Videocon Industries ltd - India
- PNOC Exploration Corporation - Philippines
- Mintek Dendrill Indonesia
- PTC India Limited - India
- Tamil Nadu electricity Board
- Binh Thuan Hamico - Vietnam
- Intertek Mineral Services - Indonesia
- Wood Mackenzie - Singapore
- PowerSource Philippines DevCo
- Romanian Commodities Exchange
- Ceylon Electricity Board - Sri Lanka
- Asmin Koalindo Tuhup - Indonesia
- Africa Commodities Group - South Africa
- Indo Tambangraya Megah - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- LBH Netherlands Bv - Netherlands
- MS Steel International - UAE
- Kapuas Tunggal Persada - Indonesia
- White Energy Company Limited
- Cement Manufacturers Association - India
- IHS Mccloskey Coal Group - USA
- Indian Energy Exchange, India
- Tata Chemicals Ltd - India
- The State Trading Corporation of India Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Independent Power Producers Association of India
- ICICI Bank Limited - India
- Kartika Selabumi Mining - Indonesia
- Manunggal Multi Energi - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Australian Commodity Traders Exchange
- Bukit Baiduri Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Singapore Mercantile Exchange
- Attock Cement Pakistan Limited
- Ambuja Cements Ltd - India
- Semirara Mining and Power Corporation, Philippines
- The Treasury - Australian Government
- Indian Oil Corporation Limited
- Global Business Power Corporation, Philippines
- Star Paper Mills Limited - India
- Eastern Energy - Thailand
- India Bulls Power Limited - India
- Commonwealth Bank - Australia
- Ministry of Mines - Canada
- Larsen & Toubro Limited - India
- Metalloyd Limited - United Kingdom
- Mjunction Services Limited - India
- Latin American Coal - Colombia
- Electricity Generating Authority of Thailand
- Gujarat Sidhee Cement - India
- VISA Power Limited - India
- Indika Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Sarangani Energy Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Bharathi Cement Corporation - India
- Karaikal Port Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Kalimantan Lumbung Energi - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Oldendorff Carriers - Singapore
- Bukit Makmur.PT - Indonesia
- Pendopo Energi Batubara - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Posco Energy - South Korea
- Minerals Council of Australia
- International Coal Ventures Pvt Ltd - India
- Planning Commission, India
- Borneo Indobara - Indonesia
- Global Coal Blending Company Limited - Australia
- GAC Shipping (India) Pvt Ltd
- Altura Mining Limited, Indonesia
- Salva Resources Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Ministry of Transport, Egypt
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- CNBM International Corporation - China
- Semirara Mining Corp, Philippines
- Carbofer General Trading SA - India
- Holcim Trading Pte Ltd - Singapore
- Heidelberg Cement - Germany
- New Zealand Coal & Carbon
- Rashtriya Ispat Nigam Limited - India
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