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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, 22 November 12
DRY BULK MARKET RISE, BUT OUTLOOK SEEN DIM ON THE BACK OF RECORD NEW BUILDING DELIVERIES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market has been under hefty pressure since the start of the year, as a result of record newbuilding deliveries and below-par demand for ...
Wednesday, 21 November 12
LITTLE IMPACT FROM DISSOLUTION OF BP MIGAS ON INDONESIAN OIL & GAS COMPANIES - FITCH
Fitch Ratings has said that the recent court order to abolish the Indonesian upstream oil and gas regulator, BP Migas, has minimal immediate impact ...
Wednesday, 21 November 12
ORPHEUS ENERGY SECURES FIRST COAL OFF TAKE CONTRACT
COALspot.com - Orpheus Energy Limited (ASX:OEG) has announced that it has signed a coal sales contract with an Indonesian steel manufacturing compan ...
Tuesday, 20 November 12
AUSTRALIAN NEWCASTLE PORT HAS LOADED 13.18 PERCENT LESS COAL W-W
COALspot.com - Newcastle port in Australia has loaded 2,691,731 MT of thermal and coking coal for week ended 0700 hours 19 November 2012, Newc ...
Monday, 19 November 12
GOVT PREPARES TO FACE ANOTHER SUIT ON MINING LAW - THE JAKARTA POST
The government is gearing up to face a complaint on the 2009 Mining Law prepared by the same organization that previously brought down upstream oil ...
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- Pipit Mutiara Jaya. PT, Indonesia
- Planning Commission, India
- London Commodity Brokers - England
- Pendopo Energi Batubara - Indonesia
- Uttam Galva Steels Limited - India
- SMC Global Power, Philippines
- The University of Queensland
- Sical Logistics Limited - India
- Indonesian Coal Mining Association
- Standard Chartered Bank - UAE
- Manunggal Multi Energi - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Globalindo Alam Lestari - Indonesia
- PowerSource Philippines DevCo
- Toyota Tsusho Corporation, Japan
- International Coal Ventures Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Maheswari Brothers Coal Limited - India
- Thiess Contractors Indonesia
- Coal and Oil Company - UAE
- Xindia Steels Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Antam Resourcindo - Indonesia
- Price Waterhouse Coopers - Russia
- LBH Netherlands Bv - Netherlands
- Latin American Coal - Colombia
- Ind-Barath Power Infra Limited - India
- Krishnapatnam Port Company Ltd. - India
- Economic Council, Georgia
- Mjunction Services Limited - India
- White Energy Company Limited
- Wood Mackenzie - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Iligan Light & Power Inc, Philippines
- Rio Tinto Coal - Australia
- Kepco SPC Power Corporation, Philippines
- Indika Energy - Indonesia
- Anglo American - United Kingdom
- AsiaOL BioFuels Corp., Philippines
- Minerals Council of Australia
- Kumho Petrochemical, South Korea
- Mercator Lines Limited - India
- Energy Development Corp, Philippines
- Aboitiz Power Corporation - Philippines
- Electricity Authority, New Zealand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Deloitte Consulting - India
- Ministry of Finance - Indonesia
- Bhushan Steel Limited - India
- Holcim Trading Pte Ltd - Singapore
- Sree Jayajothi Cements Limited - India
- Orica Australia Pty. Ltd.
- Kapuas Tunggal Persada - Indonesia
- PTC India Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Singapore Mercantile Exchange
- Baramulti Group, Indonesia
- Bharathi Cement Corporation - India
- Leighton Contractors Pty Ltd - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- ICICI Bank Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Kaltim Prima Coal - Indonesia
- Therma Luzon, Inc, Philippines
- Karaikal Port Pvt Ltd - India
- The Treasury - Australian Government
- Bhatia International Limited - India
- SN Aboitiz Power Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Australian Coal Association
- Bukit Baiduri Energy - Indonesia
- Central Java Power - Indonesia
- San Jose City I Power Corp, Philippines
- Carbofer General Trading SA - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- SMG Consultants - Indonesia
- Lanco Infratech Ltd - India
- Samtan Co., Ltd - South Korea
- CNBM International Corporation - China
- Georgia Ports Authority, United States
- Salva Resources Pvt Ltd - India
- GVK Power & Infra Limited - India
- Videocon Industries ltd - India
- Intertek Mineral Services - Indonesia
- India Bulls Power Limited - India
- Kartika Selabumi Mining - Indonesia
- Essar Steel Hazira Ltd - India
- IHS Mccloskey Coal Group - USA
- Asmin Koalindo Tuhup - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Kobexindo Tractors - Indoneisa
- South Luzon Thermal Energy Corporation
- CIMB Investment Bank - Malaysia
- Goldman Sachs - Singapore
- Borneo Indobara - Indonesia
- Australian Commodity Traders Exchange
- TeaM Sual Corporation - Philippines
- Merrill Lynch Commodities Europe
- Chettinad Cement Corporation Ltd - India
- Larsen & Toubro Limited - India
- Timah Investasi Mineral - Indoneisa
- Directorate Of Revenue Intelligence - India
- Chamber of Mines of South Africa
- Global Green Power PLC Corporation, Philippines
- Eastern Energy - Thailand
- Port Waratah Coal Services - Australia
- Energy Link Ltd, New Zealand
- Madhucon Powers Ltd - India
- Parry Sugars Refinery, India
- Oldendorff Carriers - Singapore
- Siam City Cement - Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Renaissance Capital - South Africa
- European Bulk Services B.V. - Netherlands
- Power Finance Corporation Ltd., India
- Billiton Holdings Pty Ltd - Australia
- Ministry of Mines - Canada
- Orica Mining Services - Indonesia
- Edison Trading Spa - Italy
- Meenaskhi Energy Private Limited - India
- Alfred C Toepfer International GmbH - Germany
- Tata Chemicals Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Meralco Power Generation, Philippines
- Petron Corporation, Philippines
- Attock Cement Pakistan Limited
- Vizag Seaport Private Limited - India
- New Zealand Coal & Carbon
- Siam City Cement PLC, Thailand
- Grasim Industreis Ltd - India
- Bayan Resources Tbk. - Indonesia
- Wilmar Investment Holdings
- MS Steel International - UAE
- Eastern Coal Council - USA
- Cement Manufacturers Association - India
- Indian Oil Corporation Limited
- Mercuria Energy - Indonesia
- Altura Mining Limited, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Semirara Mining and Power Corporation, Philippines
- McConnell Dowell - Australia
- Tamil Nadu electricity Board
- Global Business Power Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Agrawal Coal Company - India
- IEA Clean Coal Centre - UK
- Thai Mozambique Logistica
- Straits Asia Resources Limited - Singapore
- Sarangani Energy Corporation, Philippines
- Commonwealth Bank - Australia
- GAC Shipping (India) Pvt Ltd
- Coalindo Energy - Indonesia
- Interocean Group of Companies - India
- Mintek Dendrill Indonesia
- Global Coal Blending Company Limited - Australia
- The State Trading Corporation of India Ltd
- Vedanta Resources Plc - India
- Simpson Spence & Young - Indonesia
- Jindal Steel & Power Ltd - India
- Semirara Mining Corp, Philippines
- Aditya Birla Group - India
- Jaiprakash Power Ventures ltd
- PNOC Exploration Corporation - Philippines
- Formosa Plastics Group - Taiwan
- Ceylon Electricity Board - Sri Lanka
- Kideco Jaya Agung - Indonesia
- Sindya Power Generating Company Private Ltd
- Indian Energy Exchange, India
- Independent Power Producers Association of India
- Cigading International Bulk Terminal - Indonesia
- Africa Commodities Group - South Africa
- Star Paper Mills Limited - India
- Banpu Public Company Limited - Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Central Electricity Authority - India
- Romanian Commodities Exchange
- Parliament of New Zealand
- Neyveli Lignite Corporation Ltd, - India
- Heidelberg Cement - Germany
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Medco Energi Mining Internasional
- Sojitz Corporation - Japan
- Bhoruka Overseas - Indonesia
- Makarim & Taira - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Coastal Gujarat Power Limited - India
- Posco Energy - South Korea
- GMR Energy Limited - India
- Bangladesh Power Developement Board
- Trasteel International SA, Italy
- Marubeni Corporation - India
- Electricity Generating Authority of Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Binh Thuan Hamico - Vietnam
- Gujarat Electricity Regulatory Commission - India
- Petrochimia International Co. Ltd.- Taiwan
- Riau Bara Harum - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Rashtriya Ispat Nigam Limited - India
- Metalloyd Limited - United Kingdom
- OPG Power Generation Pvt Ltd - India
- Indogreen Group - Indonesia
- Malabar Cements Ltd - India
- VISA Power Limited - India
- Dalmia Cement Bharat India
- Ministry of Transport, Egypt
- ASAPP Information Group - India
- GN Power Mariveles Coal Plant, Philippines
- Gujarat Sidhee Cement - India
- Barasentosa Lestari - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Sakthi Sugars Limited - India
- Indo Tambangraya Megah - Indonesia
- Bukit Makmur.PT - Indonesia
- Ambuja Cements Ltd - India
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