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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, 29 November 12
BUMI TO PRODUCE 100 MILLION TONS OF COAL BY 2014
COALspot.com - Expansions on both BUMI’ s subsidiaries, PT Kaltim Prima Coal (KPC) and PT Arutmin Indonesia ( Arutmin) , are ...
Thursday, 29 November 12
PANAMAX : A FAIRLY STEADY MARKET WITH USD 8.5-9K/DAY FOR 2 LADEN LEGS IN ATLANTIC - FEARNLEYS
Handy
The Atlantic market continues to remain quiet due to more supply of ships. Rates from USG to Far East were around USD 18k and Black Sea to Fa ...
Thursday, 29 November 12
DRY BULK MARKET SLIGHTLY HIGHER DESPITE LULL ACTIVITY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market was marginally higher yesterday, according to the industry's benchmark, the Baltic Dry Index (BDI), which rose by 7 points to 1 ...
Wednesday, 28 November 12
NEWBUILDING ORDERING PICKS UP AS SHIP OWNERS LOOK TO CLOSE DEALS BEFORE THE END OF THE YEAR - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Ship owners are active once again in the newbuilding ordering market, as they look to clinch deals ahead of the end of the year. Once again their fo ...
Tuesday, 27 November 12
NEWCASTLE PORT HAS SHIPPED 1.79 MILLION TONS OF COAL W/E 26 NOVEMBER
COALspot.com - Newcastle port in Australia has loaded 1,793,841 MT of thermal and coking coal for week ended 0700 hours 26 November 2012, Newc ...
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- SMC Global Power, Philippines
- Star Paper Mills Limited - India
- Energy Development Corp, Philippines
- Timah Investasi Mineral - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Jorong Barutama Greston.PT - Indonesia
- TeaM Sual Corporation - Philippines
- Maheswari Brothers Coal Limited - India
- GVK Power & Infra Limited - India
- Manunggal Multi Energi - Indonesia
- Trasteel International SA, Italy
- Mercuria Energy - Indonesia
- Makarim & Taira - Indonesia
- Jindal Steel & Power Ltd - India
- Wood Mackenzie - Singapore
- Eastern Coal Council - USA
- PNOC Exploration Corporation - Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- International Coal Ventures Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Global Business Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Kartika Selabumi Mining - Indonesia
- Georgia Ports Authority, United States
- Meenaskhi Energy Private Limited - India
- Neyveli Lignite Corporation Ltd, - India
- San Jose City I Power Corp, Philippines
- Siam City Cement - Thailand
- LBH Netherlands Bv - Netherlands
- Romanian Commodities Exchange
- Baramulti Group, Indonesia
- Central Java Power - Indonesia
- Karaikal Port Pvt Ltd - India
- Ministry of Transport, Egypt
- Kepco SPC Power Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Malabar Cements Ltd - India
- Bharathi Cement Corporation - India
- Carbofer General Trading SA - India
- PTC India Limited - India
- Sakthi Sugars Limited - India
- Sical Logistics Limited - India
- AsiaOL BioFuels Corp., Philippines
- Chettinad Cement Corporation Ltd - India
- Australian Commodity Traders Exchange
- Cement Manufacturers Association - India
- IHS Mccloskey Coal Group - USA
- Dalmia Cement Bharat India
- Africa Commodities Group - South Africa
- Holcim Trading Pte Ltd - Singapore
- Central Electricity Authority - India
- Edison Trading Spa - Italy
- Grasim Industreis Ltd - India
- Iligan Light & Power Inc, Philippines
- PowerSource Philippines DevCo
- SMG Consultants - Indonesia
- Medco Energi Mining Internasional
- Pendopo Energi Batubara - Indonesia
- Straits Asia Resources Limited - Singapore
- Semirara Mining and Power Corporation, Philippines
- Rio Tinto Coal - Australia
- GN Power Mariveles Coal Plant, Philippines
- Australian Coal Association
- McConnell Dowell - Australia
- Indika Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Commonwealth Bank - Australia
- Sindya Power Generating Company Private Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Heidelberg Cement - Germany
- Planning Commission, India
- Bukit Makmur.PT - Indonesia
- Deloitte Consulting - India
- London Commodity Brokers - England
- Vijayanagar Sugar Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Mintek Dendrill Indonesia
- Videocon Industries ltd - India
- Samtan Co., Ltd - South Korea
- Petron Corporation, Philippines
- Aditya Birla Group - India
- Wilmar Investment Holdings
- OPG Power Generation Pvt Ltd - India
- Latin American Coal - Colombia
- Aboitiz Power Corporation - Philippines
- Power Finance Corporation Ltd., India
- GMR Energy Limited - India
- South Luzon Thermal Energy Corporation
- Toyota Tsusho Corporation, Japan
- Meralco Power Generation, Philippines
- Bhatia International Limited - India
- Indonesian Coal Mining Association
- Vedanta Resources Plc - India
- Mjunction Services Limited - India
- IEA Clean Coal Centre - UK
- Kideco Jaya Agung - Indonesia
- Singapore Mercantile Exchange
- India Bulls Power Limited - India
- Gujarat Electricity Regulatory Commission - India
- Antam Resourcindo - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Sojitz Corporation - Japan
- Maharashtra Electricity Regulatory Commission - India
- Sarangani Energy Corporation, Philippines
- Energy Link Ltd, New Zealand
- Indo Tambangraya Megah - Indonesia
- Ambuja Cements Ltd - India
- Mercator Lines Limited - India
- Thiess Contractors Indonesia
- Kaltim Prima Coal - Indonesia
- Simpson Spence & Young - Indonesia
- ASAPP Information Group - India
- Salva Resources Pvt Ltd - India
- Bangladesh Power Developement Board
- Larsen & Toubro Limited - India
- VISA Power Limited - India
- Merrill Lynch Commodities Europe
- Rashtriya Ispat Nigam Limited - India
- Cigading International Bulk Terminal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Marubeni Corporation - India
- Krishnapatnam Port Company Ltd. - India
- GAC Shipping (India) Pvt Ltd
- Indian Oil Corporation Limited
- Xindia Steels Limited - India
- Economic Council, Georgia
- Tata Chemicals Ltd - India
- Bulk Trading Sa - Switzerland
- Essar Steel Hazira Ltd - India
- Ind-Barath Power Infra Limited - India
- Price Waterhouse Coopers - Russia
- Bhushan Steel Limited - India
- Intertek Mineral Services - Indonesia
- New Zealand Coal & Carbon
- Bukit Baiduri Energy - Indonesia
- Minerals Council of Australia
- Ministry of Mines - Canada
- Chamber of Mines of South Africa
- Uttam Galva Steels Limited - India
- Posco Energy - South Korea
- CNBM International Corporation - China
- Banpu Public Company Limited - Thailand
- Jaiprakash Power Ventures ltd
- Tamil Nadu electricity Board
- Electricity Authority, New Zealand
- Kumho Petrochemical, South Korea
- Gujarat Mineral Development Corp Ltd - India
- Borneo Indobara - Indonesia
- Eastern Energy - Thailand
- Oldendorff Carriers - Singapore
- White Energy Company Limited
- Ceylon Electricity Board - Sri Lanka
- Attock Cement Pakistan Limited
- Riau Bara Harum - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Siam City Cement PLC, Thailand
- Vizag Seaport Private Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bayan Resources Tbk. - Indonesia
- Gujarat Sidhee Cement - India
- Barasentosa Lestari - Indonesia
- Ministry of Finance - Indonesia
- Coastal Gujarat Power Limited - India
- Thai Mozambique Logistica
- Miang Besar Coal Terminal - Indonesia
- Renaissance Capital - South Africa
- Coalindo Energy - Indonesia
- Independent Power Producers Association of India
- Global Coal Blending Company Limited - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Coal and Oil Company - UAE
- Asmin Koalindo Tuhup - Indonesia
- Bhoruka Overseas - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- MS Steel International - UAE
- Anglo American - United Kingdom
- Goldman Sachs - Singapore
- ICICI Bank Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Kobexindo Tractors - Indoneisa
- Agrawal Coal Company - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Altura Mining Limited, Indonesia
- Indogreen Group - Indonesia
- Globalindo Alam Lestari - Indonesia
- The Treasury - Australian Government
- Orica Mining Services - Indonesia
- Sinarmas Energy and Mining - Indonesia
- The University of Queensland
- Indian Energy Exchange, India
- Standard Chartered Bank - UAE
- European Bulk Services B.V. - Netherlands
- Electricity Generating Authority of Thailand
- Karbindo Abesyapradhi - Indoneisa
- Lanco Infratech Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Global Green Power PLC Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- The State Trading Corporation of India Ltd
- Semirara Mining Corp, Philippines
- Formosa Plastics Group - Taiwan
- Savvy Resources Ltd - HongKong
- Kalimantan Lumbung Energi - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Kapuas Tunggal Persada - Indonesia
- Madhucon Powers Ltd - India
- Port Waratah Coal Services - Australia
- Directorate Of Revenue Intelligence - India
- Interocean Group of Companies - India
- Alfred C Toepfer International GmbH - Germany
- Binh Thuan Hamico - Vietnam
- Therma Luzon, Inc, Philippines
- Parry Sugars Refinery, India
- Parliament of New Zealand
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