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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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Wednesday, 19 September 12
CHURCHILL STRENGTHENS LITIGATION TEAM WITH APPOINTMENT OF NICHOLAS SMITH AS MANAGING DIRECTOR
COALspot.com - Churchill Mining PLC (AIM: CHL) has announced that, Mr Nicholas Smith has joined the board of the Company and has been appointed as t ...
Wednesday, 19 September 12
DRY BULK TERMINALS SINGAPORE
Press Release - Dry bulk terminals are used all around the world to handle large quantities of bulk materials, like minerals, grains, etc. In today& ...
Tuesday, 18 September 12
JORC CODE REVISION - EXPOSURE DRAFT RELEASED FOR COMMENT
COALspot.com - The Australasian Joint Ore Reserves Committee (JORC) has today released for public comment the exposure draft of the JORC Code (2012) ...
Monday, 17 September 12
YEAR TO DATE, BUMA PRODUCED 231.1 MILLION BCM OF OVERBURDEN
COALspot.com - PT. Delta Dunia Makmur Tbk has removed 31.5 million bcm (+6.0 percent YoY) overburden in August 2012 totaled 31.5 million bcm ( ...
Sunday, 16 September 12
GLOBAL LOW DEMAND ; INDONESIA COAL AND CFR SOUTH CHINA COAL SWAPS DIP
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for November 2012 delivery lost 1.345 percent W-O-W on Friday, 14 September 2012, closing but gai ...
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- PetroVietnam Power Coal Import and Supply Company
- Minerals Council of Australia
- Coastal Gujarat Power Limited - India
- PTC India Limited - India
- San Jose City I Power Corp, Philippines
- Orica Australia Pty. Ltd.
- Baramulti Group, Indonesia
- Posco Energy - South Korea
- Bayan Resources Tbk. - Indonesia
- Simpson Spence & Young - Indonesia
- Anglo American - United Kingdom
- ASAPP Information Group - India
- Mercator Lines Limited - India
- Uttam Galva Steels Limited - India
- Bhushan Steel Limited - India
- The Treasury - Australian Government
- CIMB Investment Bank - Malaysia
- Siam City Cement - Thailand
- IHS Mccloskey Coal Group - USA
- Bhoruka Overseas - Indonesia
- SN Aboitiz Power Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Vizag Seaport Private Limited - India
- Antam Resourcindo - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Banpu Public Company Limited - Thailand
- Timah Investasi Mineral - Indoneisa
- Iligan Light & Power Inc, Philippines
- Metalloyd Limited - United Kingdom
- Bank of Tokyo Mitsubishi UFJ Ltd
- Gujarat Sidhee Cement - India
- Bhatia International Limited - India
- Kaltim Prima Coal - Indonesia
- Independent Power Producers Association of India
- Central Electricity Authority - India
- Planning Commission, India
- MS Steel International - UAE
- Mercuria Energy - Indonesia
- London Commodity Brokers - England
- Mjunction Services Limited - India
- Savvy Resources Ltd - HongKong
- Pendopo Energi Batubara - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Maharashtra Electricity Regulatory Commission - India
- Karbindo Abesyapradhi - Indoneisa
- New Zealand Coal & Carbon
- Bukit Baiduri Energy - Indonesia
- Grasim Industreis Ltd - India
- TeaM Sual Corporation - Philippines
- Cement Manufacturers Association - India
- Riau Bara Harum - Indonesia
- Directorate Of Revenue Intelligence - India
- Ceylon Electricity Board - Sri Lanka
- Wilmar Investment Holdings
- Georgia Ports Authority, United States
- Gujarat Electricity Regulatory Commission - India
- Globalindo Alam Lestari - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Dalmia Cement Bharat India
- Indian Oil Corporation Limited
- Miang Besar Coal Terminal - Indonesia
- Star Paper Mills Limited - India
- South Luzon Thermal Energy Corporation
- Larsen & Toubro Limited - India
- Barasentosa Lestari - Indonesia
- Bulk Trading Sa - Switzerland
- Alfred C Toepfer International GmbH - Germany
- Eastern Coal Council - USA
- SMG Consultants - Indonesia
- Siam City Cement PLC, Thailand
- Chettinad Cement Corporation Ltd - India
- McConnell Dowell - Australia
- Electricity Authority, New Zealand
- Ministry of Mines - Canada
- Africa Commodities Group - South Africa
- IEA Clean Coal Centre - UK
- Meenaskhi Energy Private Limited - India
- Binh Thuan Hamico - Vietnam
- Edison Trading Spa - Italy
- Sakthi Sugars Limited - India
- Latin American Coal - Colombia
- Indonesian Coal Mining Association
- Madhucon Powers Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Sojitz Corporation - Japan
- Kideco Jaya Agung - Indonesia
- Semirara Mining Corp, Philippines
- Kapuas Tunggal Persada - Indonesia
- Kumho Petrochemical, South Korea
- OPG Power Generation Pvt Ltd - India
- Commonwealth Bank - Australia
- Electricity Generating Authority of Thailand
- Indo Tambangraya Megah - Indonesia
- Wood Mackenzie - Singapore
- PowerSource Philippines DevCo
- Medco Energi Mining Internasional
- Parry Sugars Refinery, India
- Borneo Indobara - Indonesia
- Renaissance Capital - South Africa
- Therma Luzon, Inc, Philippines
- Thai Mozambique Logistica
- Marubeni Corporation - India
- Maheswari Brothers Coal Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Meralco Power Generation, Philippines
- ICICI Bank Limited - India
- Global Green Power PLC Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Vijayanagar Sugar Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Samtan Co., Ltd - South Korea
- Energy Link Ltd, New Zealand
- Petron Corporation, Philippines
- Videocon Industries ltd - India
- Toyota Tsusho Corporation, Japan
- Ambuja Cements Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Merrill Lynch Commodities Europe
- Rashtriya Ispat Nigam Limited - India
- SMC Global Power, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Sindya Power Generating Company Private Ltd
- Bukit Makmur.PT - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Essar Steel Hazira Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Makarim & Taira - Indonesia
- Deloitte Consulting - India
- Altura Mining Limited, Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Sarangani Energy Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Kobexindo Tractors - Indoneisa
- Oldendorff Carriers - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bangladesh Power Developement Board
- Singapore Mercantile Exchange
- Australian Coal Association
- Aditya Birla Group - India
- Central Java Power - Indonesia
- GAC Shipping (India) Pvt Ltd
- Eastern Energy - Thailand
- Attock Cement Pakistan Limited
- Kartika Selabumi Mining - Indonesia
- Power Finance Corporation Ltd., India
- Formosa Plastics Group - Taiwan
- Sical Logistics Limited - India
- GVK Power & Infra Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Tata Chemicals Ltd - India
- Kepco SPC Power Corporation, Philippines
- Indogreen Group - Indonesia
- Interocean Group of Companies - India
- Jindal Steel & Power Ltd - India
- Tamil Nadu electricity Board
- Agrawal Coal Company - India
- Romanian Commodities Exchange
- VISA Power Limited - India
- Salva Resources Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Aboitiz Power Corporation - Philippines
- Indika Energy - Indonesia
- The University of Queensland
- Thiess Contractors Indonesia
- Gujarat Mineral Development Corp Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Straits Asia Resources Limited - Singapore
- Coalindo Energy - Indonesia
- Malabar Cements Ltd - India
- Goldman Sachs - Singapore
- Carbofer General Trading SA - India
- Indian Energy Exchange, India
- GMR Energy Limited - India
- Heidelberg Cement - Germany
- Xindia Steels Limited - India
- Australian Commodity Traders Exchange
- White Energy Company Limited
- Asmin Koalindo Tuhup - Indonesia
- Mintek Dendrill Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Chamber of Mines of South Africa
- PNOC Exploration Corporation - Philippines
- India Bulls Power Limited - India
- International Coal Ventures Pvt Ltd - India
- Bharathi Cement Corporation - India
- Standard Chartered Bank - UAE
- Economic Council, Georgia
- Intertek Mineral Services - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Lanco Infratech Ltd - India
- The State Trading Corporation of India Ltd
- Ministry of Transport, Egypt
- Ministry of Finance - Indonesia
- Global Business Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- European Bulk Services B.V. - Netherlands
- Rio Tinto Coal - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Jaiprakash Power Ventures ltd
- Trasteel International SA, Italy
- Sinarmas Energy and Mining - Indonesia
- Vedanta Resources Plc - India
- Manunggal Multi Energi - Indonesia
- Global Coal Blending Company Limited - Australia
- Parliament of New Zealand
- Coal and Oil Company - UAE
- Energy Development Corp, Philippines
- CNBM International Corporation - China
- Orica Mining Services - Indonesia
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