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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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Friday, 31 August 12
ADVERSE SHIPPING MARKET CONDITIONS SHORTENS LIFE SPAN OF VESSELS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The adverse conditions which have been put in place in the world's freight markets, means that ship owners are forced to scrap vessels of a much yo ...
Thursday, 30 August 12
INDO-INDIA, LARGE ECO SUPRA NOW FIXED AT USD 7K FOR DELIVERY SINGAPORE - FEARNLEYS AS
Handy
The Supra market continued its negative trend with little fresh business entering the market. Continent positions fixed around USD 4k for tri ...
Thursday, 30 August 12
DRY BULK MARKET STILL LOOKING OUT FOR BETTER DAYS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With things in China moving slowly this week, as a result of holidays, it’s no surprise that the latest positive trend in the dry bulk market ...
Wednesday, 29 August 12
COLOMBIA'S MINING BOOM: PART TWO - JOSEPH KIRSCHKE
One of the most prominent casualties of Canada's entry into the Colombian mining sector has been a priest named Jose Reynal-Restrepo. Last Septembe ...
Wednesday, 29 August 12
COLOMBIA'S MINING BOOM: PART ONE - JOSEPH KIRSCHKE
COALspot.com - Colombia stands before one of the potentially largest, most diversified mining booms in the world. Untold reserves of gold, coal, cop ...
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- Kobexindo Tractors - Indoneisa
- Semirara Mining Corp, Philippines
- Commonwealth Bank - Australia
- VISA Power Limited - India
- Mjunction Services Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bukit Baiduri Energy - Indonesia
- Central Java Power - Indonesia
- European Bulk Services B.V. - Netherlands
- New Zealand Coal & Carbon
- SMC Global Power, Philippines
- Kartika Selabumi Mining - Indonesia
- Jaiprakash Power Ventures ltd
- Anglo American - United Kingdom
- Chamber of Mines of South Africa
- Malabar Cements Ltd - India
- Bangladesh Power Developement Board
- Thai Mozambique Logistica
- Merrill Lynch Commodities Europe
- Sakthi Sugars Limited - India
- Bulk Trading Sa - Switzerland
- Karbindo Abesyapradhi - Indoneisa
- Indonesian Coal Mining Association
- GAC Shipping (India) Pvt Ltd
- Power Finance Corporation Ltd., India
- International Coal Ventures Pvt Ltd - India
- Uttam Galva Steels Limited - India
- San Jose City I Power Corp, Philippines
- Pendopo Energi Batubara - Indonesia
- Ind-Barath Power Infra Limited - India
- Makarim & Taira - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PNOC Exploration Corporation - Philippines
- Rashtriya Ispat Nigam Limited - India
- India Bulls Power Limited - India
- Aboitiz Power Corporation - Philippines
- Goldman Sachs - Singapore
- Orica Mining Services - Indonesia
- Maheswari Brothers Coal Limited - India
- GN Power Mariveles Coal Plant, Philippines
- McConnell Dowell - Australia
- Latin American Coal - Colombia
- Bank of Tokyo Mitsubishi UFJ Ltd
- MS Steel International - UAE
- Aditya Birla Group - India
- Georgia Ports Authority, United States
- Thiess Contractors Indonesia
- Orica Australia Pty. Ltd.
- Parry Sugars Refinery, India
- PowerSource Philippines DevCo
- Coalindo Energy - Indonesia
- Sojitz Corporation - Japan
- Global Green Power PLC Corporation, Philippines
- Heidelberg Cement - Germany
- Wilmar Investment Holdings
- Neyveli Lignite Corporation Ltd, - India
- Indian Energy Exchange, India
- Edison Trading Spa - Italy
- CNBM International Corporation - China
- SMG Consultants - Indonesia
- Straits Asia Resources Limited - Singapore
- Directorate Of Revenue Intelligence - India
- Star Paper Mills Limited - India
- Mercuria Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Price Waterhouse Coopers - Russia
- Semirara Mining and Power Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Timah Investasi Mineral - Indoneisa
- Grasim Industreis Ltd - India
- Electricity Generating Authority of Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Globalindo Alam Lestari - Indonesia
- Port Waratah Coal Services - Australia
- Eastern Coal Council - USA
- Energy Link Ltd, New Zealand
- Bhushan Steel Limited - India
- ASAPP Information Group - India
- Jindal Steel & Power Ltd - India
- Bharathi Cement Corporation - India
- Marubeni Corporation - India
- Baramulti Group, Indonesia
- Krishnapatnam Port Company Ltd. - India
- GMR Energy Limited - India
- Metalloyd Limited - United Kingdom
- Carbofer General Trading SA - India
- White Energy Company Limited
- Posco Energy - South Korea
- London Commodity Brokers - England
- Coal and Oil Company - UAE
- Rio Tinto Coal - Australia
- Gujarat Electricity Regulatory Commission - India
- Standard Chartered Bank - UAE
- Kapuas Tunggal Persada - Indonesia
- Simpson Spence & Young - Indonesia
- Parliament of New Zealand
- Directorate General of MIneral and Coal - Indonesia
- Miang Besar Coal Terminal - Indonesia
- South Luzon Thermal Energy Corporation
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Therma Luzon, Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Eastern Energy - Thailand
- Bukit Makmur.PT - Indonesia
- Karaikal Port Pvt Ltd - India
- Indika Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Oldendorff Carriers - Singapore
- Lanco Infratech Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Coastal Gujarat Power Limited - India
- ICICI Bank Limited - India
- Interocean Group of Companies - India
- Ceylon Electricity Board - Sri Lanka
- Mercator Lines Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Barasentosa Lestari - Indonesia
- Australian Commodity Traders Exchange
- Cement Manufacturers Association - India
- Kaltim Prima Coal - Indonesia
- Samtan Co., Ltd - South Korea
- Manunggal Multi Energi - Indonesia
- The University of Queensland
- Binh Thuan Hamico - Vietnam
- The Treasury - Australian Government
- Leighton Contractors Pty Ltd - Australia
- Mintek Dendrill Indonesia
- PTC India Limited - India
- Billiton Holdings Pty Ltd - Australia
- Toyota Tsusho Corporation, Japan
- Chettinad Cement Corporation Ltd - India
- Ministry of Transport, Egypt
- Formosa Plastics Group - Taiwan
- Ambuja Cements Ltd - India
- Xindia Steels Limited - India
- Riau Bara Harum - Indonesia
- Borneo Indobara - Indonesia
- Banpu Public Company Limited - Thailand
- The State Trading Corporation of India Ltd
- Meralco Power Generation, Philippines
- Attock Cement Pakistan Limited
- Singapore Mercantile Exchange
- GVK Power & Infra Limited - India
- Sical Logistics Limited - India
- Wood Mackenzie - Singapore
- Global Coal Blending Company Limited - Australia
- Trasteel International SA, Italy
- Economic Council, Georgia
- Gujarat Sidhee Cement - India
- Africa Commodities Group - South Africa
- Essar Steel Hazira Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Videocon Industries ltd - India
- Tamil Nadu electricity Board
- Intertek Mineral Services - Indonesia
- Dalmia Cement Bharat India
- Agrawal Coal Company - India
- Deloitte Consulting - India
- Ministry of Mines - Canada
- Medco Energi Mining Internasional
- Energy Development Corp, Philippines
- Bayan Resources Tbk. - Indonesia
- Independent Power Producers Association of India
- Ministry of Finance - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kideco Jaya Agung - Indonesia
- Bhatia International Limited - India
- Vedanta Resources Plc - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Tata Chemicals Ltd - India
- IEA Clean Coal Centre - UK
- Kohat Cement Company Ltd. - Pakistan
- IHS Mccloskey Coal Group - USA
- Petron Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- SN Aboitiz Power Inc, Philippines
- Altura Mining Limited, Indonesia
- Indian Oil Corporation Limited
- Bahari Cakrawala Sebuku - Indonesia
- Iligan Light & Power Inc, Philippines
- Larsen & Toubro Limited - India
- Planning Commission, India
- Antam Resourcindo - Indonesia
- Savvy Resources Ltd - HongKong
- Siam City Cement PLC, Thailand
- CIMB Investment Bank - Malaysia
- Salva Resources Pvt Ltd - India
- Renaissance Capital - South Africa
- Indo Tambangraya Megah - Indonesia
- Siam City Cement - Thailand
- Indogreen Group - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Kepco SPC Power Corporation, Philippines
- Electricity Authority, New Zealand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- OPG Power Generation Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Minerals Council of Australia
- Madhucon Powers Ltd - India
- Central Electricity Authority - India
- Bhoruka Overseas - Indonesia
- Kumho Petrochemical, South Korea
- Global Business Power Corporation, Philippines
- Australian Coal Association
- Sarangani Energy Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Romanian Commodities Exchange
- Sindya Power Generating Company Private Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PetroVietnam Power Coal Import and Supply Company
- Vizag Seaport Private Limited - India
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