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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, 13 September 12
FUEL EFFICIENT SHIPS MAY BE MORE EXPENSIVE, BUT THEY MAKE FINANCIAL SENSE SAYS ANALYSIS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The latest trend in shipbuilding is the so called "Eco" ship, i.e. ships which offer much better fuel consumption and are more cost-effect ...
Wednesday, 12 September 12
INDIAS COALGATE: TIME FOR A ROOT CANAL
A recent report from India’s Comptroller and Auditor General (CAG) pertaining to the allocation of coal blocks has created a political storm i ...
Tuesday, 11 September 12
CLOUDY AND POLICY RISK INDONESIAN COAL INDUSTRY
COALspot.com - Bahana Securities in its latest coal outlook, commented on the Indonesian coal market, with economic slowdown in the four largest coa ...
Tuesday, 11 September 12
SHIP OWNERS KEEN ON SECOND HAND VESSEL PURCHASES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With most ship owners back from their summer rest, things are starting to pick up again in the second hand vessel market, with more and more deals b ...
Monday, 10 September 12
TNPL, AN INDIAN PAPER MAKER IS SEEKING FOR 300K MT OF IMPORTED NON-COKING COAL
COALspot.com - Tamil Nadu Newsprint & Papers Ltd. , an Indian paper maker, is seeking 300,000 metric tons ± 5% (In 6 Shipments about 50,0 ...
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- Renaissance Capital - South Africa
- Parry Sugars Refinery, India
- Bukit Asam (Persero) Tbk - Indonesia
- Coastal Gujarat Power Limited - India
- Miang Besar Coal Terminal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Uttam Galva Steels Limited - India
- Leighton Contractors Pty Ltd - Australia
- Coal and Oil Company - UAE
- Kapuas Tunggal Persada - Indonesia
- Wood Mackenzie - Singapore
- Savvy Resources Ltd - HongKong
- Bhoruka Overseas - Indonesia
- PowerSource Philippines DevCo
- Anglo American - United Kingdom
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indika Energy - Indonesia
- Global Business Power Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Globalindo Alam Lestari - Indonesia
- Eastern Energy - Thailand
- Interocean Group of Companies - India
- Makarim & Taira - Indonesia
- Indo Tambangraya Megah - Indonesia
- Sical Logistics Limited - India
- Kartika Selabumi Mining - Indonesia
- Toyota Tsusho Corporation, Japan
- Alfred C Toepfer International GmbH - Germany
- Baramulti Group, Indonesia
- GVK Power & Infra Limited - India
- Power Finance Corporation Ltd., India
- VISA Power Limited - India
- GAC Shipping (India) Pvt Ltd
- Jorong Barutama Greston.PT - Indonesia
- Kepco SPC Power Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Rio Tinto Coal - Australia
- ICICI Bank Limited - India
- Gujarat Sidhee Cement - India
- Bukit Makmur.PT - Indonesia
- Sakthi Sugars Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Carbofer General Trading SA - India
- Aditya Birla Group - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Jaiprakash Power Ventures ltd
- Africa Commodities Group - South Africa
- Merrill Lynch Commodities Europe
- Salva Resources Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Directorate Of Revenue Intelligence - India
- Petron Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Barasentosa Lestari - Indonesia
- Tamil Nadu electricity Board
- Lanco Infratech Ltd - India
- Simpson Spence & Young - Indonesia
- Economic Council, Georgia
- Riau Bara Harum - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Standard Chartered Bank - UAE
- Larsen & Toubro Limited - India
- The State Trading Corporation of India Ltd
- SN Aboitiz Power Inc, Philippines
- McConnell Dowell - Australia
- Port Waratah Coal Services - Australia
- Cigading International Bulk Terminal - Indonesia
- Minerals Council of Australia
- Kobexindo Tractors - Indoneisa
- Mintek Dendrill Indonesia
- MS Steel International - UAE
- Commonwealth Bank - Australia
- Jindal Steel & Power Ltd - India
- Karaikal Port Pvt Ltd - India
- Thiess Contractors Indonesia
- Bulk Trading Sa - Switzerland
- Singapore Mercantile Exchange
- SMC Global Power, Philippines
- India Bulls Power Limited - India
- ASAPP Information Group - India
- Indian Oil Corporation Limited
- CIMB Investment Bank - Malaysia
- European Bulk Services B.V. - Netherlands
- Marubeni Corporation - India
- Mercator Lines Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Videocon Industries ltd - India
- Energy Development Corp, Philippines
- Intertek Mineral Services - Indonesia
- Heidelberg Cement - Germany
- The Treasury - Australian Government
- Sree Jayajothi Cements Limited - India
- Deloitte Consulting - India
- Vijayanagar Sugar Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Oldendorff Carriers - Singapore
- Parliament of New Zealand
- Agrawal Coal Company - India
- Electricity Generating Authority of Thailand
- Chamber of Mines of South Africa
- Banpu Public Company Limited - Thailand
- Energy Link Ltd, New Zealand
- Meenaskhi Energy Private Limited - India
- The University of Queensland
- London Commodity Brokers - England
- Antam Resourcindo - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Romanian Commodities Exchange
- Bukit Baiduri Energy - Indonesia
- Orica Australia Pty. Ltd.
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bhushan Steel Limited - India
- Altura Mining Limited, Indonesia
- Cement Manufacturers Association - India
- Global Green Power PLC Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Ministry of Mines - Canada
- Mjunction Services Limited - India
- Star Paper Mills Limited - India
- Australian Coal Association
- Orica Mining Services - Indonesia
- Ministry of Transport, Egypt
- Price Waterhouse Coopers - Russia
- Maheswari Brothers Coal Limited - India
- White Energy Company Limited
- Bangladesh Power Developement Board
- GMR Energy Limited - India
- Dalmia Cement Bharat India
- Semirara Mining Corp, Philippines
- Ceylon Electricity Board - Sri Lanka
- PetroVietnam Power Coal Import and Supply Company
- Planning Commission, India
- IEA Clean Coal Centre - UK
- Samtan Co., Ltd - South Korea
- Vizag Seaport Private Limited - India
- LBH Netherlands Bv - Netherlands
- Xindia Steels Limited - India
- Sojitz Corporation - Japan
- Gujarat Electricity Regulatory Commission - India
- Billiton Holdings Pty Ltd - Australia
- Trasteel International SA, Italy
- Ambuja Cements Ltd - India
- Wilmar Investment Holdings
- Eastern Coal Council - USA
- Meralco Power Generation, Philippines
- Bhatia International Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Goldman Sachs - Singapore
- Australian Commodity Traders Exchange
- PNOC Exploration Corporation - Philippines
- Bharathi Cement Corporation - India
- Kaltim Prima Coal - Indonesia
- Indian Energy Exchange, India
- Iligan Light & Power Inc, Philippines
- Edison Trading Spa - Italy
- Latin American Coal - Colombia
- Rashtriya Ispat Nigam Limited - India
- Mercuria Energy - Indonesia
- Central Java Power - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- TeaM Sual Corporation - Philippines
- Medco Energi Mining Internasional
- Chettinad Cement Corporation Ltd - India
- Georgia Ports Authority, United States
- TNB Fuel Sdn Bhd - Malaysia
- Kalimantan Lumbung Energi - Indonesia
- South Luzon Thermal Energy Corporation
- Semirara Mining and Power Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Timah Investasi Mineral - Indoneisa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- San Jose City I Power Corp, Philippines
- Madhucon Powers Ltd - India
- OPG Power Generation Pvt Ltd - India
- Grasim Industreis Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Krishnapatnam Port Company Ltd. - India
- Siam City Cement - Thailand
- Coalindo Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Electricity Authority, New Zealand
- PTC India Limited - India
- Bayan Resources Tbk. - Indonesia
- IHS Mccloskey Coal Group - USA
- Pendopo Energi Batubara - Indonesia
- Central Electricity Authority - India
- Thai Mozambique Logistica
- Indonesian Coal Mining Association
- Indogreen Group - Indonesia
- Kumho Petrochemical, South Korea
- Metalloyd Limited - United Kingdom
- Attock Cement Pakistan Limited
- Asmin Koalindo Tuhup - Indonesia
- Straits Asia Resources Limited - Singapore
- Kideco Jaya Agung - Indonesia
- Sarangani Energy Corporation, Philippines
- Essar Steel Hazira Ltd - India
- SMG Consultants - Indonesia
- Formosa Plastics Group - Taiwan
- Tata Chemicals Ltd - India
- Borneo Indobara - Indonesia
- Sindya Power Generating Company Private Ltd
- CNBM International Corporation - China
- Gujarat Mineral Development Corp Ltd - India
- Vedanta Resources Plc - India
- Malabar Cements Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- International Coal Ventures Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Posco Energy - South Korea
- Ind-Barath Power Infra Limited - India
- Independent Power Producers Association of India
- Ministry of Finance - Indonesia
- New Zealand Coal & Carbon
- Siam City Cement PLC, Thailand
- Therma Luzon, Inc, Philippines
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