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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, 10 September 12
DRY BULK MARKET SLOWLY BUT SURELY REACHING CRITICAL STATUS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The radical consequences of the shifts in dry bulk demand and prices, especially for the most sought after commodity, concerning the industry, i.e. ...
Monday, 10 September 12
ORPHEUS ENERGY SECURES INDONESIAN COAL TRADING LICENSE
COALspot.com - Indonesian coal producer, Orpheus Energy (ASX:OEG) has announced today that the Indonesian Ministry of Energy and Mineral Resources h ...
Monday, 10 September 12
A SNAPSHOT ON THE ECONOMIC AND SHIPPING ENVIRONMENT - GOLDEN DESTINY / HELLENIC SHIPPING
The European Central Bank left its interest rate unchanged at 0.75% focusing on pushing down borrowing costs in troubled economies, Spain and Italy. ...
Sunday, 09 September 12
H213 SUB-BIT FOB INDONESIA COAL SWAPS ARE TRADING HIGHER
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for October 2012 delivery lost 0.14 percent W-O-W on 7 September 2012, Friday closing but gained ...
Saturday, 08 September 12
INDO INDIA ROUTE FREIGHT FOR SUPRAMAX REMAINS STRONG - CAPT. REDDY
COALspot.com - The freight market overall remained weak and except for cape index all other sectors were down. The biggest drop was in the Panamax s ...
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- LBH Netherlands Bv - Netherlands
- Borneo Indobara - Indonesia
- Posco Energy - South Korea
- Kohat Cement Company Ltd. - Pakistan
- International Coal Ventures Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Ministry of Finance - Indonesia
- Timah Investasi Mineral - Indoneisa
- Mercator Lines Limited - India
- Price Waterhouse Coopers - Russia
- Mjunction Services Limited - India
- Sarangani Energy Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Electricity Generating Authority of Thailand
- Meralco Power Generation, Philippines
- Singapore Mercantile Exchange
- Parliament of New Zealand
- Makarim & Taira - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Kideco Jaya Agung - Indonesia
- Maheswari Brothers Coal Limited - India
- Therma Luzon, Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Planning Commission, India
- Star Paper Mills Limited - India
- Medco Energi Mining Internasional
- Bhoruka Overseas - Indonesia
- Essar Steel Hazira Ltd - India
- Trasteel International SA, Italy
- Malabar Cements Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Merrill Lynch Commodities Europe
- Metalloyd Limited - United Kingdom
- Siam City Cement PLC, Thailand
- ASAPP Information Group - India
- Coalindo Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bank of Tokyo Mitsubishi UFJ Ltd
- Antam Resourcindo - Indonesia
- Bhushan Steel Limited - India
- Rashtriya Ispat Nigam Limited - India
- Ambuja Cements Ltd - India
- Sakthi Sugars Limited - India
- South Luzon Thermal Energy Corporation
- Standard Chartered Bank - UAE
- Neyveli Lignite Corporation Ltd, - India
- Kaltim Prima Coal - Indonesia
- Kartika Selabumi Mining - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Riau Bara Harum - Indonesia
- Goldman Sachs - Singapore
- Bukit Baiduri Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Romanian Commodities Exchange
- Wilmar Investment Holdings
- Meenaskhi Energy Private Limited - India
- Madhucon Powers Ltd - India
- SN Aboitiz Power Inc, Philippines
- Baramulti Group, Indonesia
- Siam City Cement - Thailand
- Ministry of Transport, Egypt
- Indian Energy Exchange, India
- Billiton Holdings Pty Ltd - Australia
- London Commodity Brokers - England
- Bayan Resources Tbk. - Indonesia
- San Jose City I Power Corp, Philippines
- Dalmia Cement Bharat India
- India Bulls Power Limited - India
- Sojitz Corporation - Japan
- Vedanta Resources Plc - India
- Rio Tinto Coal - Australia
- Uttam Galva Steels Limited - India
- IEA Clean Coal Centre - UK
- Lanco Infratech Ltd - India
- IHS Mccloskey Coal Group - USA
- Directorate Of Revenue Intelligence - India
- Iligan Light & Power Inc, Philippines
- Tata Chemicals Ltd - India
- Cigading International Bulk Terminal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Vijayanagar Sugar Pvt Ltd - India
- SMC Global Power, Philippines
- Samtan Co., Ltd - South Korea
- Commonwealth Bank - Australia
- Larsen & Toubro Limited - India
- Bangladesh Power Developement Board
- Savvy Resources Ltd - HongKong
- New Zealand Coal & Carbon
- Australian Coal Association
- SMG Consultants - Indonesia
- Global Coal Blending Company Limited - Australia
- Sindya Power Generating Company Private Ltd
- Australian Commodity Traders Exchange
- Xindia Steels Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Globalindo Alam Lestari - Indonesia
- PowerSource Philippines DevCo
- Kalimantan Lumbung Energi - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Heidelberg Cement - Germany
- GN Power Mariveles Coal Plant, Philippines
- Ind-Barath Power Infra Limited - India
- Indo Tambangraya Megah - Indonesia
- Bhatia International Limited - India
- Parry Sugars Refinery, India
- Orica Mining Services - Indonesia
- Coastal Gujarat Power Limited - India
- Marubeni Corporation - India
- Bahari Cakrawala Sebuku - Indonesia
- Georgia Ports Authority, United States
- Aboitiz Power Corporation - Philippines
- PetroVietnam Power Coal Import and Supply Company
- Videocon Industries ltd - India
- Economic Council, Georgia
- Thai Mozambique Logistica
- Manunggal Multi Energi - Indonesia
- ICICI Bank Limited - India
- Energy Development Corp, Philippines
- Latin American Coal - Colombia
- Attock Cement Pakistan Limited
- Indogreen Group - Indonesia
- Cement Manufacturers Association - India
- Indian Oil Corporation Limited
- Altura Mining Limited, Indonesia
- Indonesian Coal Mining Association
- Renaissance Capital - South Africa
- Anglo American - United Kingdom
- Directorate General of MIneral and Coal - Indonesia
- Indika Energy - Indonesia
- Minerals Council of Australia
- GAC Shipping (India) Pvt Ltd
- Energy Link Ltd, New Zealand
- European Bulk Services B.V. - Netherlands
- Pendopo Energi Batubara - Indonesia
- Toyota Tsusho Corporation, Japan
- Chettinad Cement Corporation Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Electricity Authority, New Zealand
- Tamil Nadu electricity Board
- PNOC Exploration Corporation - Philippines
- Wood Mackenzie - Singapore
- Bulk Trading Sa - Switzerland
- Karbindo Abesyapradhi - Indoneisa
- Aditya Birla Group - India
- Central Electricity Authority - India
- Gujarat Electricity Regulatory Commission - India
- Mintek Dendrill Indonesia
- VISA Power Limited - India
- Gujarat Sidhee Cement - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- MS Steel International - UAE
- Bharathi Cement Corporation - India
- Sical Logistics Limited - India
- CIMB Investment Bank - Malaysia
- Semirara Mining Corp, Philippines
- CNBM International Corporation - China
- PTC India Limited - India
- Karaikal Port Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Sinarmas Energy and Mining - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- The Treasury - Australian Government
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Deloitte Consulting - India
- Bukit Makmur.PT - Indonesia
- Carbofer General Trading SA - India
- McConnell Dowell - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Binh Thuan Hamico - Vietnam
- Jorong Barutama Greston.PT - Indonesia
- Africa Commodities Group - South Africa
- Grasim Industreis Ltd - India
- Port Waratah Coal Services - Australia
- TeaM Sual Corporation - Philippines
- Edison Trading Spa - Italy
- Kumho Petrochemical, South Korea
- Global Green Power PLC Corporation, Philippines
- Mercuria Energy - Indonesia
- Ministry of Mines - Canada
- Central Java Power - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Intertek Mineral Services - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- The State Trading Corporation of India Ltd
- Orica Australia Pty. Ltd.
- Global Business Power Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Oldendorff Carriers - Singapore
- Formosa Plastics Group - Taiwan
- Straits Asia Resources Limited - Singapore
- Agrawal Coal Company - India
- Simpson Spence & Young - Indonesia
- Coal and Oil Company - UAE
- Power Finance Corporation Ltd., India
- OPG Power Generation Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- The University of Queensland
- Eastern Energy - Thailand
- AsiaOL BioFuels Corp., Philippines
- GVK Power & Infra Limited - India
- Eastern Coal Council - USA
- Thiess Contractors Indonesia
- Chamber of Mines of South Africa
- GMR Energy Limited - India
- Vizag Seaport Private Limited - India
- Alfred C Toepfer International GmbH - Germany
- Independent Power Producers Association of India
- Jindal Steel & Power Ltd - India
- Interocean Group of Companies - India
- Petron Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- White Energy Company Limited
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