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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, 18 August 12
BULK FREIGHT MARKETS CONTINUED THEIR DECLINE IN LINE WITH WEAK DEMAND - VISTAAR
COALspot.com - This week also the indices fell on all segments with BDI touching lowest in almost 3 years.
The BDI closed at 714 points down by 7 ...
Thursday, 16 August 12
PUBLIC PRIVATE PARTNERSHIPS CONFERENCE 2012
Press Release - Asia’s Premier Public Private Partnerships Conference 2012 will showcase commercial opportunities for investors and developers ...
Wednesday, 15 August 12
UT GENERATED RP 3.09 TRILLION NET INCOME
COALspot.com - As of June 2012 Indonesia’s heavy equipment market grew 14%, from 8,448 units to 9,618 units (based on UT’s internal mark ...
Tuesday, 14 August 12
SAKARI ENTERED INTO JV IN CAMBODIA TO EXPLORE COAL OPPORTUNITIES
COALspot.com - Sakari joints hands with The Royal Group of Companies in Cambodia to explore and develop coal opportunities throughout the country.
...
Tuesday, 14 August 12
SAKARI SIGNS HEADS OF AGREEMENT TO ACQUIRE SIX COAL CONCESSIONS IN INDONESIA
COALspot.com - Sakari has signed a Heads of Agreement (HOA) to acquire a 100% interest in up to six IUPs, covering an area of over 29,000 hectares, ...
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- Dalmia Cement Bharat India
- Romanian Commodities Exchange
- Kepco SPC Power Corporation, Philippines
- IEA Clean Coal Centre - UK
- Altura Mining Limited, Indonesia
- Mintek Dendrill Indonesia
- Bharathi Cement Corporation - India
- Bahari Cakrawala Sebuku - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- GMR Energy Limited - India
- Mercator Lines Limited - India
- Bulk Trading Sa - Switzerland
- Indogreen Group - Indonesia
- Bukit Makmur.PT - Indonesia
- Formosa Plastics Group - Taiwan
- Borneo Indobara - Indonesia
- MS Steel International - UAE
- Iligan Light & Power Inc, Philippines
- Planning Commission, India
- Agrawal Coal Company - India
- Lanco Infratech Ltd - India
- Commonwealth Bank - Australia
- Bukit Baiduri Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Medco Energi Mining Internasional
- OPG Power Generation Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Sindya Power Generating Company Private Ltd
- Indonesian Coal Mining Association
- Gujarat Sidhee Cement - India
- Ambuja Cements Ltd - India
- Leighton Contractors Pty Ltd - Australia
- The Treasury - Australian Government
- Essar Steel Hazira Ltd - India
- Vizag Seaport Private Limited - India
- Petron Corporation, Philippines
- Latin American Coal - Colombia
- Cement Manufacturers Association - India
- Krishnapatnam Port Company Ltd. - India
- SN Aboitiz Power Inc, Philippines
- Trasteel International SA, Italy
- Offshore Bulk Terminal Pte Ltd, Singapore
- Simpson Spence & Young - Indonesia
- Attock Cement Pakistan Limited
- Directorate Of Revenue Intelligence - India
- Alfred C Toepfer International GmbH - Germany
- Rio Tinto Coal - Australia
- White Energy Company Limited
- Marubeni Corporation - India
- CIMB Investment Bank - Malaysia
- Larsen & Toubro Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Vedanta Resources Plc - India
- Wood Mackenzie - Singapore
- Uttam Galva Steels Limited - India
- Port Waratah Coal Services - Australia
- PTC India Limited - India
- Metalloyd Limited - United Kingdom
- Siam City Cement - Thailand
- Jindal Steel & Power Ltd - India
- McConnell Dowell - Australia
- Bangladesh Power Developement Board
- Vijayanagar Sugar Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Deloitte Consulting - India
- Maheswari Brothers Coal Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Intertek Mineral Services - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Billiton Holdings Pty Ltd - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Xindia Steels Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Binh Thuan Hamico - Vietnam
- Economic Council, Georgia
- Karaikal Port Pvt Ltd - India
- Interocean Group of Companies - India
- Pipit Mutiara Jaya. PT, Indonesia
- Central Electricity Authority - India
- Electricity Authority, New Zealand
- Global Coal Blending Company Limited - Australia
- GN Power Mariveles Coal Plant, Philippines
- Straits Asia Resources Limited - Singapore
- Indian Energy Exchange, India
- Bhatia International Limited - India
- Indo Tambangraya Megah - Indonesia
- Semirara Mining Corp, Philippines
- Minerals Council of Australia
- Bayan Resources Tbk. - Indonesia
- Videocon Industries ltd - India
- Posco Energy - South Korea
- Antam Resourcindo - Indonesia
- Pendopo Energi Batubara - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Malabar Cements Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ministry of Mines - Canada
- London Commodity Brokers - England
- Ceylon Electricity Board - Sri Lanka
- Orica Australia Pty. Ltd.
- Globalindo Alam Lestari - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Mjunction Services Limited - India
- VISA Power Limited - India
- Independent Power Producers Association of India
- Energy Development Corp, Philippines
- Merrill Lynch Commodities Europe
- Australian Commodity Traders Exchange
- Bukit Asam (Persero) Tbk - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Thiess Contractors Indonesia
- Thai Mozambique Logistica
- Eastern Coal Council - USA
- Aboitiz Power Corporation - Philippines
- Ind-Barath Power Infra Limited - India
- GVK Power & Infra Limited - India
- The University of Queensland
- India Bulls Power Limited - India
- Edison Trading Spa - Italy
- Kartika Selabumi Mining - Indonesia
- Electricity Generating Authority of Thailand
- Global Green Power PLC Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Wilmar Investment Holdings
- Coalindo Energy - Indonesia
- Tata Chemicals Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Riau Bara Harum - Indonesia
- TeaM Sual Corporation - Philippines
- Kideco Jaya Agung - Indonesia
- Jaiprakash Power Ventures ltd
- Baramulti Group, Indonesia
- Ministry of Transport, Egypt
- Sinarmas Energy and Mining - Indonesia
- European Bulk Services B.V. - Netherlands
- Renaissance Capital - South Africa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Georgia Ports Authority, United States
- Makarim & Taira - Indonesia
- Bhushan Steel Limited - India
- Parliament of New Zealand
- Madhucon Powers Ltd - India
- Banpu Public Company Limited - Thailand
- Salva Resources Pvt Ltd - India
- Central Java Power - Indonesia
- SMC Global Power, Philippines
- Indika Energy - Indonesia
- Indian Oil Corporation Limited
- Grasim Industreis Ltd - India
- Kobexindo Tractors - Indoneisa
- GAC Shipping (India) Pvt Ltd
- Power Finance Corporation Ltd., India
- Miang Besar Coal Terminal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Therma Luzon, Inc, Philippines
- Oldendorff Carriers - Singapore
- Global Business Power Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- IHS Mccloskey Coal Group - USA
- Siam City Cement PLC, Thailand
- Orica Mining Services - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Kohat Cement Company Ltd. - Pakistan
- Sree Jayajothi Cements Limited - India
- ASAPP Information Group - India
- Kumho Petrochemical, South Korea
- LBH Netherlands Bv - Netherlands
- AsiaOL BioFuels Corp., Philippines
- Sarangani Energy Corporation, Philippines
- Australian Coal Association
- Africa Commodities Group - South Africa
- Anglo American - United Kingdom
- Price Waterhouse Coopers - Russia
- PowerSource Philippines DevCo
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Chettinad Cement Corporation Ltd - India
- Goldman Sachs - Singapore
- PNOC Exploration Corporation - Philippines
- Sakthi Sugars Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Meenaskhi Energy Private Limited - India
- Toyota Tsusho Corporation, Japan
- Star Paper Mills Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Eastern Energy - Thailand
- South Luzon Thermal Energy Corporation
- Heidelberg Cement - Germany
- San Jose City I Power Corp, Philippines
- Gujarat Electricity Regulatory Commission - India
- SMG Consultants - Indonesia
- The State Trading Corporation of India Ltd
- Energy Link Ltd, New Zealand
- CNBM International Corporation - China
- Ministry of Finance - Indonesia
- Meralco Power Generation, Philippines
- Standard Chartered Bank - UAE
- Sojitz Corporation - Japan
- Singapore Mercantile Exchange
- ICICI Bank Limited - India
- International Coal Ventures Pvt Ltd - India
- Chamber of Mines of South Africa
- Mercuria Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Carbofer General Trading SA - India
- Coal and Oil Company - UAE
- Aditya Birla Group - India
- Parry Sugars Refinery, India
- New Zealand Coal & Carbon
- Holcim Trading Pte Ltd - Singapore
- Tamil Nadu electricity Board
- Timah Investasi Mineral - Indoneisa
- Bhoruka Overseas - Indonesia
- Sical Logistics Limited - India
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