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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, 27 September 12
MINING RE-COMMENCES AT ORPHEUS' B2 EAST KALIMANTAN COAL PROJECT
- B2 project overburden removal completed and coal exposed
- Coal getting has commenced with target production of 30,000tpm
- Orpheus to re ...
Thursday, 27 September 12
HANDY: THE PACIFIC MARKET IS GETTING WEAKER WITH UPCOMING GOLDEN WEEK HOLIDAYS - FEARNLEYS AS
Handy
Yet another week with rates softening in all trades. Especially owners with ships open Continent struggle to find employment paying decent mo ...
Thursday, 27 September 12
DRY BULK MARKET LOSES STEAM - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The rise of the BDI (Baltic Dry Index), the dry bulk industry’s benchmark during the course of the previous week, proved to be short-lived, as ...
Wednesday, 26 September 12
NEWBUILDING ORDERING ACTIVITY REMAINS SUBDUED ON GLOBAL MARKET UNCERTAINTY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Newbuilding ordering activity has been on the down side during the past few weeks, a trend also noticeable during the course of the past few days, a ...
Sunday, 23 September 12
AN ANOTHER UNSTABLE WEEK FOR INDONESIAN COAL SWAPS
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for November 2012 delivery lost 1.10 percent and 0.916 percent WOW and DOD respectively ...
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- Directorate Of Revenue Intelligence - India
- Anglo American - United Kingdom
- Ministry of Finance - Indonesia
- Grasim Industreis Ltd - India
- Therma Luzon, Inc, Philippines
- GVK Power & Infra Limited - India
- Vizag Seaport Private Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Uttam Galva Steels Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Jindal Steel & Power Ltd - India
- Timah Investasi Mineral - Indoneisa
- Karbindo Abesyapradhi - Indoneisa
- Coal and Oil Company - UAE
- Edison Trading Spa - Italy
- Kepco SPC Power Corporation, Philippines
- McConnell Dowell - Australia
- Kalimantan Lumbung Energi - Indonesia
- IHS Mccloskey Coal Group - USA
- Manunggal Multi Energi - Indonesia
- Price Waterhouse Coopers - Russia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Parry Sugars Refinery, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Meenaskhi Energy Private Limited - India
- Energy Link Ltd, New Zealand
- Toyota Tsusho Corporation, Japan
- MS Steel International - UAE
- Posco Energy - South Korea
- Antam Resourcindo - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Global Green Power PLC Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Economic Council, Georgia
- Meralco Power Generation, Philippines
- PTC India Limited - India
- Kideco Jaya Agung - Indonesia
- Siam City Cement PLC, Thailand
- Sree Jayajothi Cements Limited - India
- Indian Oil Corporation Limited
- Sindya Power Generating Company Private Ltd
- TeaM Sual Corporation - Philippines
- Mercator Lines Limited - India
- Heidelberg Cement - Germany
- Binh Thuan Hamico - Vietnam
- Cigading International Bulk Terminal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Oldendorff Carriers - Singapore
- Tamil Nadu electricity Board
- Straits Asia Resources Limited - Singapore
- Mintek Dendrill Indonesia
- Aditya Birla Group - India
- Siam City Cement - Thailand
- Directorate General of MIneral and Coal - Indonesia
- Gujarat Sidhee Cement - India
- Wood Mackenzie - Singapore
- Thiess Contractors Indonesia
- Bharathi Cement Corporation - India
- Indika Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Kapuas Tunggal Persada - Indonesia
- Latin American Coal - Colombia
- Kaltim Prima Coal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Essar Steel Hazira Ltd - India
- India Bulls Power Limited - India
- Malabar Cements Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Intertek Mineral Services - Indonesia
- Kumho Petrochemical, South Korea
- Tata Chemicals Ltd - India
- Simpson Spence & Young - Indonesia
- GAC Shipping (India) Pvt Ltd
- Ceylon Electricity Board - Sri Lanka
- Bangladesh Power Developement Board
- Maharashtra Electricity Regulatory Commission - India
- South Luzon Thermal Energy Corporation
- Coastal Gujarat Power Limited - India
- Indo Tambangraya Megah - Indonesia
- Indonesian Coal Mining Association
- Marubeni Corporation - India
- Interocean Group of Companies - India
- Carbofer General Trading SA - India
- Sical Logistics Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Pendopo Energi Batubara - Indonesia
- Videocon Industries ltd - India
- Energy Development Corp, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sojitz Corporation - Japan
- SMC Global Power, Philippines
- Singapore Mercantile Exchange
- VISA Power Limited - India
- Georgia Ports Authority, United States
- Bhushan Steel Limited - India
- European Bulk Services B.V. - Netherlands
- Central Electricity Authority - India
- Renaissance Capital - South Africa
- AsiaOL BioFuels Corp., Philippines
- SMG Consultants - Indonesia
- Kobexindo Tractors - Indoneisa
- Salva Resources Pvt Ltd - India
- Madhucon Powers Ltd - India
- Star Paper Mills Limited - India
- Neyveli Lignite Corporation Ltd, - India
- CIMB Investment Bank - Malaysia
- The University of Queensland
- Power Finance Corporation Ltd., India
- Coalindo Energy - Indonesia
- Barasentosa Lestari - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Kartika Selabumi Mining - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Attock Cement Pakistan Limited
- Parliament of New Zealand
- PetroVietnam Power Coal Import and Supply Company
- Metalloyd Limited - United Kingdom
- Minerals Council of Australia
- Holcim Trading Pte Ltd - Singapore
- Indogreen Group - Indonesia
- Romanian Commodities Exchange
- Ambuja Cements Ltd - India
- Central Java Power - Indonesia
- Ministry of Transport, Egypt
- Karaikal Port Pvt Ltd - India
- London Commodity Brokers - England
- International Coal Ventures Pvt Ltd - India
- Planning Commission, India
- Thai Mozambique Logistica
- Independent Power Producers Association of India
- Banpu Public Company Limited - Thailand
- Chamber of Mines of South Africa
- Riau Bara Harum - Indonesia
- IEA Clean Coal Centre - UK
- Savvy Resources Ltd - HongKong
- Goldman Sachs - Singapore
- Trasteel International SA, Italy
- Bulk Trading Sa - Switzerland
- Dalmia Cement Bharat India
- Australian Coal Association
- Mercuria Energy - Indonesia
- Altura Mining Limited, Indonesia
- ASAPP Information Group - India
- Merrill Lynch Commodities Europe
- Global Business Power Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- OPG Power Generation Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- LBH Netherlands Bv - Netherlands
- Rio Tinto Coal - Australia
- Ministry of Mines - Canada
- SN Aboitiz Power Inc, Philippines
- Commonwealth Bank - Australia
- ICICI Bank Limited - India
- Sinarmas Energy and Mining - Indonesia
- Australian Commodity Traders Exchange
- Makarim & Taira - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Standard Chartered Bank - UAE
- GN Power Mariveles Coal Plant, Philippines
- Gujarat Electricity Regulatory Commission - India
- The State Trading Corporation of India Ltd
- Global Coal Blending Company Limited - Australia
- Port Waratah Coal Services - Australia
- Electricity Authority, New Zealand
- San Jose City I Power Corp, Philippines
- Jaiprakash Power Ventures ltd
- Bhatia International Limited - India
- Eastern Coal Council - USA
- Medco Energi Mining Internasional
- Petron Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Maheswari Brothers Coal Limited - India
- Bayan Resources Tbk. - Indonesia
- Bukit Makmur.PT - Indonesia
- Orica Mining Services - Indonesia
- New Zealand Coal & Carbon
- Baramulti Group, Indonesia
- Sakthi Sugars Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Semirara Mining Corp, Philippines
- Agrawal Coal Company - India
- Chettinad Cement Corporation Ltd - India
- Iligan Light & Power Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Borneo Indobara - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Petrochimia International Co. Ltd.- Taiwan
- Larsen & Toubro Limited - India
- White Energy Company Limited
- Eastern Energy - Thailand
- Cement Manufacturers Association - India
- Aboitiz Power Corporation - Philippines
- Vedanta Resources Plc - India
- Orica Australia Pty. Ltd.
- Africa Commodities Group - South Africa
- Lanco Infratech Ltd - India
- Deloitte Consulting - India
- GMR Energy Limited - India
- Mjunction Services Limited - India
- PNOC Exploration Corporation - Philippines
- Wilmar Investment Holdings
- The Treasury - Australian Government
- CNBM International Corporation - China
- Leighton Contractors Pty Ltd - Australia
- Samtan Co., Ltd - South Korea
- Bukit Baiduri Energy - Indonesia
- Indian Energy Exchange, India
- PowerSource Philippines DevCo
- Xindia Steels Limited - India
- Alfred C Toepfer International GmbH - Germany
- Rashtriya Ispat Nigam Limited - India
- Electricity Generating Authority of Thailand
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