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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, 15 October 12
IT'S STRICTLY COME CHARTERING - CLARKSON RESEARCH SERVICES
The charter market is a bit of a dance between ship owner and charterer: one leader, one follower; one step, two steps, turn... The dance is symbiot ...
Sunday, 14 October 12
SUB-BIT INDONESIA COAL AND CFR SOUTH CHINA COAL SWAPS: SOFT
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for December 2012 delivery lost 0.329 percent w- w but gained 0.248 percent d-d on Friday, 12 Oct ...
Sunday, 14 October 12
SUPRAMAX FREIGHT STEADY: PANAMAX FREIGHTS FIRM - VISTAAR
COALspot.com - The shipping market saw some hectic activity in the Cape and panamax sector and quite a lot of fixtures reported.
The BDI was up b ...
Friday, 12 October 12
HOW REAL IS THE THREAT OF PIRACY? - BIMCO
The threat of modern piracy remains serious, regardless of its seasonal variations and the fact that it is chiefly confined to the Indian Ocean, Gul ...
Friday, 12 October 12
INVESTMENT OPPORTUNITIES OCCUR IN THE SECOND HAND VESSEL MARKETS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Although 2012 has by now evolved into one of the most challenging years for global shipping industry, ship owners are scouting the second hand ship ...
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- South Luzon Thermal Energy Corporation
- Vizag Seaport Private Limited - India
- Iligan Light & Power Inc, Philippines
- Semirara Mining Corp, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Wilmar Investment Holdings
- The Treasury - Australian Government
- Global Business Power Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Wood Mackenzie - Singapore
- New Zealand Coal & Carbon
- Ministry of Transport, Egypt
- Edison Trading Spa - Italy
- The University of Queensland
- International Coal Ventures Pvt Ltd - India
- Thai Mozambique Logistica
- Maheswari Brothers Coal Limited - India
- Barasentosa Lestari - Indonesia
- Ind-Barath Power Infra Limited - India
- Electricity Generating Authority of Thailand
- Orica Australia Pty. Ltd.
- Tata Chemicals Ltd - India
- Uttam Galva Steels Limited - India
- Singapore Mercantile Exchange
- Jindal Steel & Power Ltd - India
- Therma Luzon, Inc, Philippines
- Ambuja Cements Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Alfred C Toepfer International GmbH - Germany
- Kaltim Prima Coal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Indian Energy Exchange, India
- Independent Power Producers Association of India
- Goldman Sachs - Singapore
- Larsen & Toubro Limited - India
- Parry Sugars Refinery, India
- GAC Shipping (India) Pvt Ltd
- Savvy Resources Ltd - HongKong
- London Commodity Brokers - England
- Toyota Tsusho Corporation, Japan
- Power Finance Corporation Ltd., India
- IEA Clean Coal Centre - UK
- Global Coal Blending Company Limited - Australia
- IHS Mccloskey Coal Group - USA
- Bukit Baiduri Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Energy Development Corp, Philippines
- Global Green Power PLC Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Carbofer General Trading SA - India
- Mercator Lines Limited - India
- White Energy Company Limited
- Economic Council, Georgia
- Leighton Contractors Pty Ltd - Australia
- Maharashtra Electricity Regulatory Commission - India
- PetroVietnam Power Coal Import and Supply Company
- Xindia Steels Limited - India
- CIMB Investment Bank - Malaysia
- Star Paper Mills Limited - India
- Oldendorff Carriers - Singapore
- San Jose City I Power Corp, Philippines
- Mercuria Energy - Indonesia
- Intertek Mineral Services - Indonesia
- Eastern Coal Council - USA
- Meralco Power Generation, Philippines
- Tamil Nadu electricity Board
- Asmin Koalindo Tuhup - Indonesia
- Siam City Cement PLC, Thailand
- Gujarat Mineral Development Corp Ltd - India
- The State Trading Corporation of India Ltd
- Kideco Jaya Agung - Indonesia
- Videocon Industries ltd - India
- Antam Resourcindo - Indonesia
- Mjunction Services Limited - India
- Vedanta Resources Plc - India
- Straits Asia Resources Limited - Singapore
- Cigading International Bulk Terminal - Indonesia
- Essar Steel Hazira Ltd - India
- Indika Energy - Indonesia
- TeaM Sual Corporation - Philippines
- Indogreen Group - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- European Bulk Services B.V. - Netherlands
- LBH Netherlands Bv - Netherlands
- Georgia Ports Authority, United States
- Sical Logistics Limited - India
- Ministry of Finance - Indonesia
- Bulk Trading Sa - Switzerland
- Bayan Resources Tbk. - Indonesia
- Minerals Council of Australia
- Sakthi Sugars Limited - India
- Eastern Energy - Thailand
- Romanian Commodities Exchange
- Australian Coal Association
- Dalmia Cement Bharat India
- Kobexindo Tractors - Indoneisa
- Coal and Oil Company - UAE
- Sindya Power Generating Company Private Ltd
- Marubeni Corporation - India
- PNOC Exploration Corporation - Philippines
- Chettinad Cement Corporation Ltd - India
- Kepco SPC Power Corporation, Philippines
- Anglo American - United Kingdom
- Madhucon Powers Ltd - India
- Bhoruka Overseas - Indonesia
- Lanco Infratech Ltd - India
- SMC Global Power, Philippines
- Heidelberg Cement - Germany
- Kalimantan Lumbung Energi - Indonesia
- Africa Commodities Group - South Africa
- Globalindo Alam Lestari - Indonesia
- Petron Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Krishnapatnam Port Company Ltd. - India
- Samtan Co., Ltd - South Korea
- Thiess Contractors Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bukit Asam (Persero) Tbk - Indonesia
- ICICI Bank Limited - India
- Formosa Plastics Group - Taiwan
- Indian Oil Corporation Limited
- Indo Tambangraya Megah - Indonesia
- Planning Commission, India
- Karaikal Port Pvt Ltd - India
- Deloitte Consulting - India
- Simpson Spence & Young - Indonesia
- VISA Power Limited - India
- GVK Power & Infra Limited - India
- Price Waterhouse Coopers - Russia
- Latin American Coal - Colombia
- Meenaskhi Energy Private Limited - India
- Riau Bara Harum - Indonesia
- GMR Energy Limited - India
- Rio Tinto Coal - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- McConnell Dowell - Australia
- Electricity Authority, New Zealand
- PowerSource Philippines DevCo
- Gujarat Sidhee Cement - India
- Standard Chartered Bank - UAE
- Aboitiz Power Corporation - Philippines
- Kumho Petrochemical, South Korea
- Parliament of New Zealand
- Metalloyd Limited - United Kingdom
- Semirara Mining and Power Corporation, Philippines
- CNBM International Corporation - China
- Sojitz Corporation - Japan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Banpu Public Company Limited - Thailand
- Binh Thuan Hamico - Vietnam
- Directorate General of MIneral and Coal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Australian Commodity Traders Exchange
- Vijayanagar Sugar Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Merrill Lynch Commodities Europe
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Chamber of Mines of South Africa
- Trasteel International SA, Italy
- Agrawal Coal Company - India
- Pendopo Energi Batubara - Indonesia
- Siam City Cement - Thailand
- Timah Investasi Mineral - Indoneisa
- Commonwealth Bank - Australia
- Bangladesh Power Developement Board
- Petrochimia International Co. Ltd.- Taiwan
- Indonesian Coal Mining Association
- Bahari Cakrawala Sebuku - Indonesia
- ASAPP Information Group - India
- Orica Mining Services - Indonesia
- Sree Jayajothi Cements Limited - India
- Directorate Of Revenue Intelligence - India
- Malabar Cements Ltd - India
- Bhushan Steel Limited - India
- Coastal Gujarat Power Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- India Bulls Power Limited - India
- Jaiprakash Power Ventures ltd
- Interocean Group of Companies - India
- Cement Manufacturers Association - India
- Central Java Power - Indonesia
- Renaissance Capital - South Africa
- Ministry of Mines - Canada
- Salva Resources Pvt Ltd - India
- Coalindo Energy - Indonesia
- Energy Link Ltd, New Zealand
- Bhatia International Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Rashtriya Ispat Nigam Limited - India
- Sinarmas Energy and Mining - Indonesia
- Bukit Makmur.PT - Indonesia
- Central Electricity Authority - India
- Mintek Dendrill Indonesia
- Kartika Selabumi Mining - Indonesia
- SMG Consultants - Indonesia
- Altura Mining Limited, Indonesia
- Aditya Birla Group - India
- Attock Cement Pakistan Limited
- Baramulti Group, Indonesia
- Bharathi Cement Corporation - India
- SN Aboitiz Power Inc, Philippines
- Medco Energi Mining Internasional
- Grasim Industreis Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Sarangani Energy Corporation, Philippines
- Posco Energy - South Korea
- AsiaOL BioFuels Corp., Philippines
- Borneo Indobara - Indonesia
- OPG Power Generation Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- PTC India Limited - India
- Port Waratah Coal Services - Australia
- Makarim & Taira - Indonesia
- MS Steel International - UAE
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