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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, 01 November 12
KOMIPO LOOKING FOR 440,000 MT OF 4600 KCAL/KG NAR COAL FOR BORYEONG POWER PLANT
COALspot.com - Korea Midland Power Co. Ltd.(KOMIPO) is inviting bids from coal producers, marketing companies or traders to supply of 440,000 Metric ...
Thursday, 01 November 12
CAPESIZE RATES FALL, DRY BULK MARKET RETREATS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
It was another lackluster session yesterday in the dry bulk markets, with the industry's benchmark, the BDI (Baltic Dry Index) retreating by 1.63 p ...
Thursday, 01 November 12
HANDY : WCI-CHINA RATES ARE AT AROUND USD 5,000 AND ECI-CHINA AROUND USD 4000 - FEARNLEYS AS
Handy
The Atlantic market remains quiet due to a lack of cargoes and an increased supply of ships. Rates from the Continent to east Med were around ...
Tuesday, 30 October 12
COAL PRODUCTION TO RISE BY FIVE PERCENT IN 2013 - TEMPO INTERACTIVE
TEMPO Interactive reported that, Indonesian Coal Mining Association (APBI) chairman Bob Kamandanu has estimated that Indonesian coal production will ...
Tuesday, 30 October 12
NEW BUILDING ORDERING ACTIVITY KEEPS ON RETREATING - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Ship owners have refrained from placing any new orders of vessels during the course of the past few days, according to shipbroker reports. According ...
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- Chettinad Cement Corporation Ltd - India
- London Commodity Brokers - England
- Leighton Contractors Pty Ltd - Australia
- Siam City Cement - Thailand
- Sarangani Energy Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Larsen & Toubro Limited - India
- Chamber of Mines of South Africa
- Lanco Infratech Ltd - India
- Africa Commodities Group - South Africa
- Standard Chartered Bank - UAE
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Energy Link Ltd, New Zealand
- Miang Besar Coal Terminal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Indogreen Group - Indonesia
- Bhushan Steel Limited - India
- Indika Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Minerals Council of Australia
- Power Finance Corporation Ltd., India
- Kapuas Tunggal Persada - Indonesia
- Bayan Resources Tbk. - Indonesia
- SMC Global Power, Philippines
- White Energy Company Limited
- Gujarat Electricity Regulatory Commission - India
- Tata Chemicals Ltd - India
- Australian Commodity Traders Exchange
- Sree Jayajothi Cements Limited - India
- PowerSource Philippines DevCo
- Mintek Dendrill Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Port Waratah Coal Services - Australia
- Jaiprakash Power Ventures ltd
- European Bulk Services B.V. - Netherlands
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Georgia Ports Authority, United States
- Malabar Cements Ltd - India
- Rio Tinto Coal - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Global Green Power PLC Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Cigading International Bulk Terminal - Indonesia
- McConnell Dowell - Australia
- Electricity Authority, New Zealand
- Binh Thuan Hamico - Vietnam
- Bhatia International Limited - India
- Wood Mackenzie - Singapore
- Vizag Seaport Private Limited - India
- Holcim Trading Pte Ltd - Singapore
- Aboitiz Power Corporation - Philippines
- Ind-Barath Power Infra Limited - India
- Global Coal Blending Company Limited - Australia
- Ceylon Electricity Board - Sri Lanka
- Salva Resources Pvt Ltd - India
- Marubeni Corporation - India
- Karaikal Port Pvt Ltd - India
- India Bulls Power Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Madhucon Powers Ltd - India
- Barasentosa Lestari - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Borneo Indobara - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Global Business Power Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- San Jose City I Power Corp, Philippines
- Billiton Holdings Pty Ltd - Australia
- Formosa Plastics Group - Taiwan
- Sinarmas Energy and Mining - Indonesia
- Iligan Light & Power Inc, Philippines
- Sindya Power Generating Company Private Ltd
- GVK Power & Infra Limited - India
- Dalmia Cement Bharat India
- Ministry of Finance - Indonesia
- Meenaskhi Energy Private Limited - India
- Bulk Trading Sa - Switzerland
- Ambuja Cements Ltd - India
- The State Trading Corporation of India Ltd
- Trasteel International SA, Italy
- Intertek Mineral Services - Indonesia
- Singapore Mercantile Exchange
- Krishnapatnam Port Company Ltd. - India
- Kobexindo Tractors - Indoneisa
- Sakthi Sugars Limited - India
- GMR Energy Limited - India
- Gujarat Sidhee Cement - India
- Vedanta Resources Plc - India
- Indo Tambangraya Megah - Indonesia
- Eastern Energy - Thailand
- Directorate General of MIneral and Coal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Interocean Group of Companies - India
- Cement Manufacturers Association - India
- Antam Resourcindo - Indonesia
- Kideco Jaya Agung - Indonesia
- Grasim Industreis Ltd - India
- Electricity Generating Authority of Thailand
- Parliament of New Zealand
- TNB Fuel Sdn Bhd - Malaysia
- Timah Investasi Mineral - Indoneisa
- Directorate Of Revenue Intelligence - India
- Edison Trading Spa - Italy
- Romanian Commodities Exchange
- Simpson Spence & Young - Indonesia
- Jindal Steel & Power Ltd - India
- Sojitz Corporation - Japan
- Aditya Birla Group - India
- Maharashtra Electricity Regulatory Commission - India
- MS Steel International - UAE
- Sical Logistics Limited - India
- AsiaOL BioFuels Corp., Philippines
- Kartika Selabumi Mining - Indonesia
- Siam City Cement PLC, Thailand
- Bhoruka Overseas - Indonesia
- Renaissance Capital - South Africa
- Pendopo Energi Batubara - Indonesia
- Heidelberg Cement - Germany
- Wilmar Investment Holdings
- Medco Energi Mining Internasional
- Rashtriya Ispat Nigam Limited - India
- Bukit Makmur.PT - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Deloitte Consulting - India
- The Treasury - Australian Government
- ASAPP Information Group - India
- Merrill Lynch Commodities Europe
- Orica Mining Services - Indonesia
- VISA Power Limited - India
- Mercuria Energy - Indonesia
- ICICI Bank Limited - India
- South Luzon Thermal Energy Corporation
- Independent Power Producers Association of India
- Planning Commission, India
- Globalindo Alam Lestari - Indonesia
- Agrawal Coal Company - India
- Thai Mozambique Logistica
- Coastal Gujarat Power Limited - India
- Straits Asia Resources Limited - Singapore
- Kaltim Prima Coal - Indonesia
- Xindia Steels Limited - India
- Parry Sugars Refinery, India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- IEA Clean Coal Centre - UK
- Banpu Public Company Limited - Thailand
- Ministry of Transport, Egypt
- Offshore Bulk Terminal Pte Ltd, Singapore
- Riau Bara Harum - Indonesia
- Australian Coal Association
- Posco Energy - South Korea
- Vijayanagar Sugar Pvt Ltd - India
- Indian Energy Exchange, India
- CNBM International Corporation - China
- Star Paper Mills Limited - India
- SMG Consultants - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Central Electricity Authority - India
- Bangladesh Power Developement Board
- Metalloyd Limited - United Kingdom
- Bukit Asam (Persero) Tbk - Indonesia
- Kumho Petrochemical, South Korea
- GAC Shipping (India) Pvt Ltd
- Tamil Nadu electricity Board
- Therma Luzon, Inc, Philippines
- Central Java Power - Indonesia
- Bharathi Cement Corporation - India
- Makarim & Taira - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Baramulti Group, Indonesia
- Semirara Mining Corp, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Eastern Coal Council - USA
- Indonesian Coal Mining Association
- Coal and Oil Company - UAE
- CIMB Investment Bank - Malaysia
- Mjunction Services Limited - India
- Essar Steel Hazira Ltd - India
- Mercator Lines Limited - India
- Altura Mining Limited, Indonesia
- Kepco SPC Power Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Petrochimia International Co. Ltd.- Taiwan
- Anglo American - United Kingdom
- Samtan Co., Ltd - South Korea
- Ministry of Mines - Canada
- Savvy Resources Ltd - HongKong
- Thiess Contractors Indonesia
- Coalindo Energy - Indonesia
- Oldendorff Carriers - Singapore
- Attock Cement Pakistan Limited
- Petron Corporation, Philippines
- New Zealand Coal & Carbon
- Latin American Coal - Colombia
- Energy Development Corp, Philippines
- PNOC Exploration Corporation - Philippines
- Jorong Barutama Greston.PT - Indonesia
- Meralco Power Generation, Philippines
- OPG Power Generation Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Videocon Industries ltd - India
- Carbofer General Trading SA - India
- Maheswari Brothers Coal Limited - India
- Indian Oil Corporation Limited
- Orica Australia Pty. Ltd.
- TeaM Sual Corporation - Philippines
- Uttam Galva Steels Limited - India
- Goldman Sachs - Singapore
- Commonwealth Bank - Australia
- PTC India Limited - India
- SN Aboitiz Power Inc, Philippines
- Economic Council, Georgia
- The University of Queensland
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