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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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Saturday, 08 September 12
RIO TINTO COMPLETES ACQUISITION OF BHP BILLITON'S INTERESTS IN RICHARDS BAY MINERALS
Rio Tinto has doubled its holding in Richards Bay Minerals (RBM) following the completion of its acquisition of BHP Billiton’s entire inte ...
Friday, 07 September 12
HBA GAINS $ 1.56 PER MT IN SEPTEMBER
COALspot.com - The Indonesian government’s declared coal reference price has gained US$ 1.56 per MT M-o-M. This is the first gain ...
Thursday, 06 September 12
SOME ANCHORED PANAMAX VESSELS WAITING FOR CARGOS TO COME
Handy
According to Fearnleys weekly report, in the smaller segments Fearnleys sees little to no changes since last week. There are still entering s ...
Thursday, 06 September 12
DRY BULK CARRIERS STILL IN HIGH DEMAND AMONG SHIP OWNERS, BUT NEWBUILDING ACTIVITY SLIDES IN AUGUST - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The slide of the dry bulk market this year hasn't abated ship owners' appetite for dry bulk carriers, as evidenced by the steady interest expresse ...
Tuesday, 04 September 12
SHIP OWNERS' COMPETITION LEADS TO TANKER FIXTURES BELOW OPERATING COSTS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Ship owners operating in the VLCC tanker markets are increasingly finding it difficult to obtain even breakeven rates for their vessels, as competit ...
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- Carbofer General Trading SA - India
- Makarim & Taira - Indonesia
- Australian Commodity Traders Exchange
- Bulk Trading Sa - Switzerland
- Jaiprakash Power Ventures ltd
- Medco Energi Mining Internasional
- Riau Bara Harum - Indonesia
- San Jose City I Power Corp, Philippines
- Aditya Birla Group - India
- Bukit Baiduri Energy - Indonesia
- Indian Energy Exchange, India
- ASAPP Information Group - India
- VISA Power Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- GAC Shipping (India) Pvt Ltd
- Chamber of Mines of South Africa
- Videocon Industries ltd - India
- Marubeni Corporation - India
- Madhucon Powers Ltd - India
- Uttam Galva Steels Limited - India
- Directorate Of Revenue Intelligence - India
- Vizag Seaport Private Limited - India
- Port Waratah Coal Services - Australia
- New Zealand Coal & Carbon
- Sinarmas Energy and Mining - Indonesia
- Renaissance Capital - South Africa
- Global Business Power Corporation, Philippines
- Cement Manufacturers Association - India
- Formosa Plastics Group - Taiwan
- Gujarat Electricity Regulatory Commission - India
- Central Electricity Authority - India
- Malabar Cements Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Tamil Nadu electricity Board
- Oldendorff Carriers - Singapore
- Karaikal Port Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- The State Trading Corporation of India Ltd
- Australian Coal Association
- Alfred C Toepfer International GmbH - Germany
- Kalimantan Lumbung Energi - Indonesia
- Commonwealth Bank - Australia
- ICICI Bank Limited - India
- Economic Council, Georgia
- Kideco Jaya Agung - Indonesia
- Mercuria Energy - Indonesia
- McConnell Dowell - Australia
- Rashtriya Ispat Nigam Limited - India
- Indonesian Coal Mining Association
- Wood Mackenzie - Singapore
- Simpson Spence & Young - Indonesia
- Ministry of Finance - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Orica Australia Pty. Ltd.
- Kepco SPC Power Corporation, Philippines
- Merrill Lynch Commodities Europe
- Bukit Makmur.PT - Indonesia
- Global Green Power PLC Corporation, Philippines
- Singapore Mercantile Exchange
- Mercator Lines Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Goldman Sachs - Singapore
- Romanian Commodities Exchange
- Indogreen Group - Indonesia
- Petron Corporation, Philippines
- SMG Consultants - Indonesia
- Pendopo Energi Batubara - Indonesia
- CNBM International Corporation - China
- Bahari Cakrawala Sebuku - Indonesia
- Toyota Tsusho Corporation, Japan
- Kapuas Tunggal Persada - Indonesia
- Heidelberg Cement - Germany
- Larsen & Toubro Limited - India
- GMR Energy Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Ceylon Electricity Board - Sri Lanka
- Iligan Light & Power Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Thai Mozambique Logistica
- Directorate General of MIneral and Coal - Indonesia
- Essar Steel Hazira Ltd - India
- PowerSource Philippines DevCo
- European Bulk Services B.V. - Netherlands
- Borneo Indobara - Indonesia
- LBH Netherlands Bv - Netherlands
- GVK Power & Infra Limited - India
- Africa Commodities Group - South Africa
- Petrochimia International Co. Ltd.- Taiwan
- Electricity Generating Authority of Thailand
- Billiton Holdings Pty Ltd - Australia
- Eastern Energy - Thailand
- Parry Sugars Refinery, India
- Standard Chartered Bank - UAE
- Wilmar Investment Holdings
- Manunggal Multi Energi - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ambuja Cements Ltd - India
- Kumho Petrochemical, South Korea
- Indo Tambangraya Megah - Indonesia
- Coalindo Energy - Indonesia
- Sakthi Sugars Limited - India
- Siam City Cement - Thailand
- White Energy Company Limited
- Vedanta Resources Plc - India
- Ministry of Transport, Egypt
- Kohat Cement Company Ltd. - Pakistan
- Eastern Coal Council - USA
- Gujarat Sidhee Cement - India
- Power Finance Corporation Ltd., India
- Semirara Mining Corp, Philippines
- Energy Development Corp, Philippines
- Sarangani Energy Corporation, Philippines
- Trasteel International SA, Italy
- Planning Commission, India
- Coastal Gujarat Power Limited - India
- AsiaOL BioFuels Corp., Philippines
- Asmin Koalindo Tuhup - Indonesia
- Latin American Coal - Colombia
- Banpu Public Company Limited - Thailand
- MS Steel International - UAE
- SN Aboitiz Power Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- Kobexindo Tractors - Indoneisa
- Energy Link Ltd, New Zealand
- Star Paper Mills Limited - India
- South Luzon Thermal Energy Corporation
- Bharathi Cement Corporation - India
- Grasim Industreis Ltd - India
- Edison Trading Spa - Italy
- Sree Jayajothi Cements Limited - India
- Georgia Ports Authority, United States
- Independent Power Producers Association of India
- Mintek Dendrill Indonesia
- Altura Mining Limited, Indonesia
- Indika Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Therma Luzon, Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- The University of Queensland
- Thiess Contractors Indonesia
- India Bulls Power Limited - India
- Indian Oil Corporation Limited
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- CIMB Investment Bank - Malaysia
- London Commodity Brokers - England
- Aboitiz Power Corporation - Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Orica Mining Services - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Tata Chemicals Ltd - India
- Parliament of New Zealand
- Interocean Group of Companies - India
- Pipit Mutiara Jaya. PT, Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Central Java Power - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Siam City Cement PLC, Thailand
- Straits Asia Resources Limited - Singapore
- Posco Energy - South Korea
- TeaM Sual Corporation - Philippines
- IEA Clean Coal Centre - UK
- Jorong Barutama Greston.PT - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Samtan Co., Ltd - South Korea
- PetroVietnam Power Coal Import and Supply Company
- Bhushan Steel Limited - India
- Semirara Mining and Power Corporation, Philippines
- SMC Global Power, Philippines
- Lanco Infratech Ltd - India
- Anglo American - United Kingdom
- Chettinad Cement Corporation Ltd - India
- Ministry of Mines - Canada
- GN Power Mariveles Coal Plant, Philippines
- Timah Investasi Mineral - Indoneisa
- Globalindo Alam Lestari - Indonesia
- Kartika Selabumi Mining - Indonesia
- Binh Thuan Hamico - Vietnam
- Baramulti Group, Indonesia
- Bangladesh Power Developement Board
- Price Waterhouse Coopers - Russia
- Sojitz Corporation - Japan
- Global Coal Blending Company Limited - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Xindia Steels Limited - India
- Barasentosa Lestari - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Savvy Resources Ltd - HongKong
- The Treasury - Australian Government
- Deloitte Consulting - India
- Rio Tinto Coal - Australia
- PNOC Exploration Corporation - Philippines
- Ind-Barath Power Infra Limited - India
- Bhoruka Overseas - Indonesia
- Sical Logistics Limited - India
- Metalloyd Limited - United Kingdom
- Antam Resourcindo - Indonesia
- Mjunction Services Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Attock Cement Pakistan Limited
- Agrawal Coal Company - India
- Jindal Steel & Power Ltd - India
- OPG Power Generation Pvt Ltd - India
- Meralco Power Generation, Philippines
- PTC India Limited - India
- International Coal Ventures Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Bhatia International Limited - India
- Intertek Mineral Services - Indonesia
- Meenaskhi Energy Private Limited - India
- Coal and Oil Company - UAE
- IHS Mccloskey Coal Group - USA
- Minerals Council of Australia
- Maheswari Brothers Coal Limited - India
- Dalmia Cement Bharat India
- Electricity Authority, New Zealand
- Leighton Contractors Pty Ltd - Australia
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