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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, 29 August 12
SECOND HAND VESSELS IN HIGH DEMAND DESPITE SUMMER SEASON - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Despite the slow summer season, ship owners appear to be rather keen in acquiring some modern second hand tonnage at "knock-down" prices. ...
Monday, 27 August 12
BUMI BOOKS $322.1 MILLION NET LOSS IN 1H 2012 IN SPITE OF 8.6 PERCENT INCREASE IN SALES REVENUE
PT Bumi Resources Tbk, the single largest coal producer and exporter in Indonesia announces its first half financial report for the ...
Monday, 27 August 12
OVER 200 FOREIGN COMPANIES AND ENERGY MAJORS EXPECTED AT 2ND MOGP SUMMIT IN YANGON
Singapore based CMT and Machinery & Solutions Co. Ltd (M&S) announce that the 2nd MOGP Summit will be held on 3-6 September at the Sedona ho ...
Sunday, 26 August 12
SOUTH AFRICAN COAL OVERVIEW
South Africa's indigenous energy resource base is dominated by coal.
Internationally, coal is the most widely used primary fuel, accounting for ...
Saturday, 25 August 12
FREIGHT RATES ARE EXPECTED TO BE STEADY NEXT WEEK - VISTAAR
COALspot.com - This week the indices showed some signs of improvement will all the segments moving up except for the handy size.
The BDI was marg ...
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- Sinarmas Energy and Mining - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Marubeni Corporation - India
- Alfred C Toepfer International GmbH - Germany
- Miang Besar Coal Terminal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kalimantan Lumbung Energi - Indonesia
- Central Java Power - Indonesia
- Makarim & Taira - Indonesia
- Interocean Group of Companies - India
- Standard Chartered Bank - UAE
- Medco Energi Mining Internasional
- Bharathi Cement Corporation - India
- CIMB Investment Bank - Malaysia
- Savvy Resources Ltd - HongKong
- Global Green Power PLC Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Binh Thuan Hamico - Vietnam
- Indian Energy Exchange, India
- Coalindo Energy - Indonesia
- Xindia Steels Limited - India
- Samtan Co., Ltd - South Korea
- Agrawal Coal Company - India
- ASAPP Information Group - India
- Independent Power Producers Association of India
- Wilmar Investment Holdings
- Aboitiz Power Corporation - Philippines
- Semirara Mining Corp, Philippines
- Renaissance Capital - South Africa
- Commonwealth Bank - Australia
- Karaikal Port Pvt Ltd - India
- ICICI Bank Limited - India
- Krishnapatnam Port Company Ltd. - India
- Bangladesh Power Developement Board
- Gujarat Mineral Development Corp Ltd - India
- Indonesian Coal Mining Association
- Ambuja Cements Ltd - India
- Trasteel International SA, Italy
- Gujarat Electricity Regulatory Commission - India
- Essar Steel Hazira Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Ministry of Finance - Indonesia
- Tamil Nadu electricity Board
- Kepco SPC Power Corporation, Philippines
- Vedanta Resources Plc - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Goldman Sachs - Singapore
- GMR Energy Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bulk Trading Sa - Switzerland
- New Zealand Coal & Carbon
- Wood Mackenzie - Singapore
- European Bulk Services B.V. - Netherlands
- Vizag Seaport Private Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- PNOC Exploration Corporation - Philippines
- Vijayanagar Sugar Pvt Ltd - India
- McConnell Dowell - Australia
- Chamber of Mines of South Africa
- Bukit Baiduri Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- San Jose City I Power Corp, Philippines
- Chettinad Cement Corporation Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Global Business Power Corporation, Philippines
- GVK Power & Infra Limited - India
- Coal and Oil Company - UAE
- MS Steel International - UAE
- Carbofer General Trading SA - India
- Attock Cement Pakistan Limited
- PTC India Limited - India
- Directorate General of MIneral and Coal - Indonesia
- SMC Global Power, Philippines
- White Energy Company Limited
- Toyota Tsusho Corporation, Japan
- Grasim Industreis Ltd - India
- Rio Tinto Coal - Australia
- Sakthi Sugars Limited - India
- Aditya Birla Group - India
- Bukit Asam (Persero) Tbk - Indonesia
- Therma Luzon, Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Kohat Cement Company Ltd. - Pakistan
- India Bulls Power Limited - India
- Central Electricity Authority - India
- Georgia Ports Authority, United States
- Ceylon Electricity Board - Sri Lanka
- Meralco Power Generation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Sindya Power Generating Company Private Ltd
- Indian Oil Corporation Limited
- Parry Sugars Refinery, India
- Minerals Council of Australia
- Indika Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- Africa Commodities Group - South Africa
- Timah Investasi Mineral - Indoneisa
- Energy Development Corp, Philippines
- Semirara Mining and Power Corporation, Philippines
- Ministry of Mines - Canada
- Australian Coal Association
- Banpu Public Company Limited - Thailand
- Edison Trading Spa - Italy
- Siam City Cement - Thailand
- Directorate Of Revenue Intelligence - India
- Kaltim Prima Coal - Indonesia
- Siam City Cement PLC, Thailand
- Romanian Commodities Exchange
- Kapuas Tunggal Persada - Indonesia
- Electricity Generating Authority of Thailand
- Jindal Steel & Power Ltd - India
- Posco Energy - South Korea
- Energy Link Ltd, New Zealand
- Altura Mining Limited, Indonesia
- Singapore Mercantile Exchange
- South Luzon Thermal Energy Corporation
- Ministry of Transport, Egypt
- Indo Tambangraya Megah - Indonesia
- Anglo American - United Kingdom
- Star Paper Mills Limited - India
- Eastern Coal Council - USA
- Economic Council, Georgia
- Mintek Dendrill Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Leighton Contractors Pty Ltd - Australia
- CNBM International Corporation - China
- VISA Power Limited - India
- Rashtriya Ispat Nigam Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Videocon Industries ltd - India
- Baramulti Group, Indonesia
- Sarangani Energy Corporation, Philippines
- Australian Commodity Traders Exchange
- Gujarat Sidhee Cement - India
- Kartika Selabumi Mining - Indonesia
- IHS Mccloskey Coal Group - USA
- Simpson Spence & Young - Indonesia
- Manunggal Multi Energi - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Petron Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Ind-Barath Power Infra Limited - India
- Sree Jayajothi Cements Limited - India
- Larsen & Toubro Limited - India
- Eastern Energy - Thailand
- The University of Queensland
- IEA Clean Coal Centre - UK
- Indogreen Group - Indonesia
- Madhucon Powers Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Orica Australia Pty. Ltd.
- Tata Chemicals Ltd - India
- Deloitte Consulting - India
- Cement Manufacturers Association - India
- Latin American Coal - Colombia
- Bukit Makmur.PT - Indonesia
- Bhushan Steel Limited - India
- TeaM Sual Corporation - Philippines
- Bhoruka Overseas - Indonesia
- LBH Netherlands Bv - Netherlands
- Planning Commission, India
- Electricity Authority, New Zealand
- Power Finance Corporation Ltd., India
- Mercuria Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Maheswari Brothers Coal Limited - India
- SMG Consultants - Indonesia
- Salva Resources Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Cigading International Bulk Terminal - Indonesia
- Mjunction Services Limited - India
- SN Aboitiz Power Inc, Philippines
- Formosa Plastics Group - Taiwan
- Uttam Galva Steels Limited - India
- Billiton Holdings Pty Ltd - Australia
- Price Waterhouse Coopers - Russia
- Bayan Resources Tbk. - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Thai Mozambique Logistica
- Coastal Gujarat Power Limited - India
- Oldendorff Carriers - Singapore
- The State Trading Corporation of India Ltd
- OPG Power Generation Pvt Ltd - India
- Sical Logistics Limited - India
- Globalindo Alam Lestari - Indonesia
- International Coal Ventures Pvt Ltd - India
- PowerSource Philippines DevCo
- Kumho Petrochemical, South Korea
- Merrill Lynch Commodities Europe
- Antam Resourcindo - Indonesia
- Sojitz Corporation - Japan
- Intertek Mineral Services - Indonesia
- Orica Mining Services - Indonesia
- The Treasury - Australian Government
- Dalmia Cement Bharat India
- Borneo Indobara - Indonesia
- Lanco Infratech Ltd - India
- Heidelberg Cement - Germany
- Port Waratah Coal Services - Australia
- Iligan Light & Power Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Malabar Cements Ltd - India
- Parliament of New Zealand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Riau Bara Harum - Indonesia
- GAC Shipping (India) Pvt Ltd
- Pendopo Energi Batubara - Indonesia
- London Commodity Brokers - England
- Meenaskhi Energy Private Limited - India
- Bhatia International Limited - India
- Straits Asia Resources Limited - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Mercator Lines Limited - India
- Thiess Contractors Indonesia
- Metalloyd Limited - United Kingdom
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