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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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Tuesday, 14 August 12
UNCERTAIN FUTURE FOR DRY BULK PANAMAX SHIPS - DREWRY / HELLENIC SHIPPING
The dry bulk shipping market is in a poor state, with the Capesize segment the worst of all. Unfortunately, the latest analysis from Drewry Maritime ...
Monday, 13 August 12
5TH VIETNAM PORTS AND LOGISTICS 2012
Press Release - Co-hosted by VINAMARINE, the 5th Vietnam Ports and Logistics2012 will feature dedicated sessions on port and transport infrastructur ...
Monday, 13 August 12
ACTIVE DRY BULK FLEET INCREASES BY 8% SO FAR IN 2012 IN TERMS OF TONNAGE CAPACITY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
It’s no wonder that the dry bulk market has been tethering since the start of the year. the overflow of tonnage has been so enormous, that eve ...
Sunday, 12 August 12
COAL FREIGHT RATES FALL FLAT TO SOFT ON OVERSUPPLY, WEAK DEMAND - VISTAAR SINGAPROE
COALspot.com - The BDI continued its fall 10th August.
This week all segments were down including BDI down by 9.15 pct closing at 774 points .The ...
Saturday, 11 August 12
INDONESIAN COAL REFERENCE PRICE HAS LOST 27.78 PERCENT YOY
COALspot.com - Indonesian HBA fell again in August.
The monthly coal reference price for coal sales this month fell 3.32 percent. HBA fell ...
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- Aboitiz Power Corporation - Philippines
- Economic Council, Georgia
- Kalimantan Lumbung Energi - Indonesia
- Central Electricity Authority - India
- Videocon Industries ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Cigading International Bulk Terminal - Indonesia
- Vedanta Resources Plc - India
- Renaissance Capital - South Africa
- Uttam Galva Steels Limited - India
- Bangladesh Power Developement Board
- AsiaOL BioFuels Corp., Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kartika Selabumi Mining - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Mintek Dendrill Indonesia
- Timah Investasi Mineral - Indoneisa
- Therma Luzon, Inc, Philippines
- Makarim & Taira - Indonesia
- Altura Mining Limited, Indonesia
- Bayan Resources Tbk. - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Coal and Oil Company - UAE
- Indonesian Coal Mining Association
- MS Steel International - UAE
- Star Paper Mills Limited - India
- TeaM Sual Corporation - Philippines
- Bharathi Cement Corporation - India
- Dalmia Cement Bharat India
- Kohat Cement Company Ltd. - Pakistan
- Port Waratah Coal Services - Australia
- Energy Development Corp, Philippines
- Ambuja Cements Ltd - India
- Global Coal Blending Company Limited - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Aditya Birla Group - India
- Sojitz Corporation - Japan
- Barasentosa Lestari - Indonesia
- Globalindo Alam Lestari - Indonesia
- Ministry of Transport, Egypt
- Simpson Spence & Young - Indonesia
- Central Java Power - Indonesia
- SN Aboitiz Power Inc, Philippines
- Marubeni Corporation - India
- McConnell Dowell - Australia
- Bukit Makmur.PT - Indonesia
- The State Trading Corporation of India Ltd
- Samtan Co., Ltd - South Korea
- Mercator Lines Limited - India
- Binh Thuan Hamico - Vietnam
- CNBM International Corporation - China
- White Energy Company Limited
- Iligan Light & Power Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Meenaskhi Energy Private Limited - India
- Malabar Cements Ltd - India
- Indika Energy - Indonesia
- Larsen & Toubro Limited - India
- Tamil Nadu electricity Board
- Posco Energy - South Korea
- Alfred C Toepfer International GmbH - Germany
- Australian Coal Association
- India Bulls Power Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Xindia Steels Limited - India
- International Coal Ventures Pvt Ltd - India
- Goldman Sachs - Singapore
- Coalindo Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Formosa Plastics Group - Taiwan
- Maheswari Brothers Coal Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Sakthi Sugars Limited - India
- PowerSource Philippines DevCo
- Wood Mackenzie - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Coastal Gujarat Power Limited - India
- Parry Sugars Refinery, India
- Chettinad Cement Corporation Ltd - India
- Commonwealth Bank - Australia
- Power Finance Corporation Ltd., India
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Sidhee Cement - India
- Bulk Trading Sa - Switzerland
- Semirara Mining Corp, Philippines
- Bukit Baiduri Energy - Indonesia
- Interocean Group of Companies - India
- ICICI Bank Limited - India
- GVK Power & Infra Limited - India
- The University of Queensland
- Gujarat Electricity Regulatory Commission - India
- Indogreen Group - Indonesia
- Eastern Coal Council - USA
- Electricity Authority, New Zealand
- Minerals Council of Australia
- Semirara Mining and Power Corporation, Philippines
- Eastern Energy - Thailand
- Ministry of Mines - Canada
- Toyota Tsusho Corporation, Japan
- Anglo American - United Kingdom
- Independent Power Producers Association of India
- IEA Clean Coal Centre - UK
- Orica Mining Services - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Directorate Of Revenue Intelligence - India
- Georgia Ports Authority, United States
- Siam City Cement PLC, Thailand
- Karaikal Port Pvt Ltd - India
- Mercuria Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- The Treasury - Australian Government
- OPG Power Generation Pvt Ltd - India
- Ministry of Finance - Indonesia
- IHS Mccloskey Coal Group - USA
- Riau Bara Harum - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Medco Energi Mining Internasional
- San Jose City I Power Corp, Philippines
- Savvy Resources Ltd - HongKong
- Sarangani Energy Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Heidelberg Cement - Germany
- PetroVietnam Power Coal Import and Supply Company
- New Zealand Coal & Carbon
- Meralco Power Generation, Philippines
- Australian Commodity Traders Exchange
- Grasim Industreis Ltd - India
- Essar Steel Hazira Ltd - India
- Madhucon Powers Ltd - India
- Price Waterhouse Coopers - Russia
- ASAPP Information Group - India
- Metalloyd Limited - United Kingdom
- Rio Tinto Coal - Australia
- Mjunction Services Limited - India
- Indian Energy Exchange, India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Antam Resourcindo - Indonesia
- Africa Commodities Group - South Africa
- Pendopo Energi Batubara - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Sical Logistics Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Latin American Coal - Colombia
- Electricity Generating Authority of Thailand
- LBH Netherlands Bv - Netherlands
- South Luzon Thermal Energy Corporation
- Krishnapatnam Port Company Ltd. - India
- Asmin Koalindo Tuhup - Indonesia
- Siam City Cement - Thailand
- Intertek Mineral Services - Indonesia
- London Commodity Brokers - England
- Deloitte Consulting - India
- Singapore Mercantile Exchange
- Chamber of Mines of South Africa
- Petron Corporation, Philippines
- Global Business Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Indo Tambangraya Megah - Indonesia
- Sindya Power Generating Company Private Ltd
- Thiess Contractors Indonesia
- PTC India Limited - India
- Salva Resources Pvt Ltd - India
- Borneo Indobara - Indonesia
- Kaltim Prima Coal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Global Green Power PLC Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Ind-Barath Power Infra Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Baramulti Group, Indonesia
- Kumho Petrochemical, South Korea
- Tata Chemicals Ltd - India
- Straits Asia Resources Limited - Singapore
- Agrawal Coal Company - India
- Manunggal Multi Energi - Indonesia
- Carbofer General Trading SA - India
- Ceylon Electricity Board - Sri Lanka
- Cement Manufacturers Association - India
- Kepco SPC Power Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Parliament of New Zealand
- Thai Mozambique Logistica
- Lanco Infratech Ltd - India
- CIMB Investment Bank - Malaysia
- Merrill Lynch Commodities Europe
- GMR Energy Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Standard Chartered Bank - UAE
- Oldendorff Carriers - Singapore
- Banpu Public Company Limited - Thailand
- Orica Australia Pty. Ltd.
- Sree Jayajothi Cements Limited - India
- Vizag Seaport Private Limited - India
- Bhushan Steel Limited - India
- Trasteel International SA, Italy
- Jaiprakash Power Ventures ltd
- Energy Link Ltd, New Zealand
- Miang Besar Coal Terminal - Indonesia
- Attock Cement Pakistan Limited
- SMG Consultants - Indonesia
- Kideco Jaya Agung - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- SMC Global Power, Philippines
- Romanian Commodities Exchange
- Wilmar Investment Holdings
- Edison Trading Spa - Italy
- Indian Oil Corporation Limited
- Bhatia International Limited - India
- Planning Commission, India
- VISA Power Limited - India
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