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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, 11 August 12
SUB-BIT INDONESIA COAL SWAPS SEEN MOVING IN THE RIGHT DIRECTION
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for September 2012 delivery gain 1.29 percent W-o-W on Friday (10 August 2012) closing but lost 1 ...
Friday, 10 August 12
DRY BULK MARKET DROWNING FROM TONNAGE OVERSUPPLY - HELLENIC SHIPPING
The dry bulk market has been overflowing with new building vessels, despite the fact that demand is more or less (and minus the seasonal factors) ri ...
Thursday, 09 August 12
3RD ANNUAL SHALE GAS
Press Release - With the North American shale gas boom, IBC’s 3rd Annual Shale Gas explores optimal strategies to monetize Asia’s domest ...
Wednesday, 08 August 12
EXPLOITASI AIMS TO RAISE RP 2.7T FOR ACQUISITION - THE JAKARTA POST
The Jakarta Post reported that, publicly listed coal miner PT Exploitasi Energi Indonesia (CNKO) is seeking to raise Rp 2.7 trillion (US$286.2 milli ...
Tuesday, 07 August 12
2ND ANNUAL FLOATING TERMINALS
Press Release - After a ground breaking and successful launch in 2011, the 2nd Annual Floating Terminals conferenceis back to address innovation, co ...
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- OPG Power Generation Pvt Ltd - India
- Agrawal Coal Company - India
- Kapuas Tunggal Persada - Indonesia
- Ministry of Mines - Canada
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bhoruka Overseas - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Samtan Co., Ltd - South Korea
- South Luzon Thermal Energy Corporation
- Metalloyd Limited - United Kingdom
- IEA Clean Coal Centre - UK
- Power Finance Corporation Ltd., India
- Ministry of Finance - Indonesia
- SMG Consultants - Indonesia
- ICICI Bank Limited - India
- PNOC Exploration Corporation - Philippines
- PTC India Limited - India
- Malabar Cements Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- The University of Queensland
- London Commodity Brokers - England
- San Jose City I Power Corp, Philippines
- Iligan Light & Power Inc, Philippines
- Lanco Infratech Ltd - India
- Deloitte Consulting - India
- Thiess Contractors Indonesia
- Formosa Plastics Group - Taiwan
- Madhucon Powers Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Tamil Nadu electricity Board
- Renaissance Capital - South Africa
- Wood Mackenzie - Singapore
- Aboitiz Power Corporation - Philippines
- Pendopo Energi Batubara - Indonesia
- Parliament of New Zealand
- McConnell Dowell - Australia
- Toyota Tsusho Corporation, Japan
- Billiton Holdings Pty Ltd - Australia
- Sarangani Energy Corporation, Philippines
- Singapore Mercantile Exchange
- Bank of Tokyo Mitsubishi UFJ Ltd
- Cigading International Bulk Terminal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GN Power Mariveles Coal Plant, Philippines
- Global Coal Blending Company Limited - Australia
- TeaM Sual Corporation - Philippines
- Rashtriya Ispat Nigam Limited - India
- Kideco Jaya Agung - Indonesia
- Bharathi Cement Corporation - India
- Mercator Lines Limited - India
- Australian Coal Association
- Central Electricity Authority - India
- Jindal Steel & Power Ltd - India
- Siam City Cement PLC, Thailand
- Oldendorff Carriers - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Kaltim Prima Coal - Indonesia
- SMC Global Power, Philippines
- Gujarat Electricity Regulatory Commission - India
- Global Green Power PLC Corporation, Philippines
- Merrill Lynch Commodities Europe
- Indian Energy Exchange, India
- Xindia Steels Limited - India
- Heidelberg Cement - Germany
- Semirara Mining Corp, Philippines
- Electricity Generating Authority of Thailand
- European Bulk Services B.V. - Netherlands
- Trasteel International SA, Italy
- VISA Power Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Sojitz Corporation - Japan
- Bukit Asam (Persero) Tbk - Indonesia
- The Treasury - Australian Government
- Port Waratah Coal Services - Australia
- LBH Netherlands Bv - Netherlands
- Wilmar Investment Holdings
- Eastern Energy - Thailand
- Bhushan Steel Limited - India
- Siam City Cement - Thailand
- Orica Mining Services - Indonesia
- PowerSource Philippines DevCo
- Salva Resources Pvt Ltd - India
- Indogreen Group - Indonesia
- Sree Jayajothi Cements Limited - India
- Edison Trading Spa - Italy
- Gujarat Sidhee Cement - India
- Marubeni Corporation - India
- Manunggal Multi Energi - Indonesia
- Orica Australia Pty. Ltd.
- Binh Thuan Hamico - Vietnam
- Standard Chartered Bank - UAE
- Karaikal Port Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Kumho Petrochemical, South Korea
- Kalimantan Lumbung Energi - Indonesia
- Posco Energy - South Korea
- Bukit Makmur.PT - Indonesia
- Price Waterhouse Coopers - Russia
- Ambuja Cements Ltd - India
- Indian Oil Corporation Limited
- Antam Resourcindo - Indonesia
- Anglo American - United Kingdom
- Vizag Seaport Private Limited - India
- Riau Bara Harum - Indonesia
- Thai Mozambique Logistica
- Indonesian Coal Mining Association
- Holcim Trading Pte Ltd - Singapore
- Mjunction Services Limited - India
- Neyveli Lignite Corporation Ltd, - India
- New Zealand Coal & Carbon
- IHS Mccloskey Coal Group - USA
- Banpu Public Company Limited - Thailand
- Maharashtra Electricity Regulatory Commission - India
- Independent Power Producers Association of India
- Economic Council, Georgia
- International Coal Ventures Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Larsen & Toubro Limited - India
- Maheswari Brothers Coal Limited - India
- Commonwealth Bank - Australia
- Makarim & Taira - Indonesia
- Straits Asia Resources Limited - Singapore
- Bangladesh Power Developement Board
- The State Trading Corporation of India Ltd
- Grasim Industreis Ltd - India
- Central Java Power - Indonesia
- Uttam Galva Steels Limited - India
- Petron Corporation, Philippines
- Africa Commodities Group - South Africa
- Georgia Ports Authority, United States
- CNBM International Corporation - China
- Energy Link Ltd, New Zealand
- Goldman Sachs - Singapore
- Bukit Baiduri Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Krishnapatnam Port Company Ltd. - India
- Attock Cement Pakistan Limited
- Globalindo Alam Lestari - Indonesia
- Aditya Birla Group - India
- Sical Logistics Limited - India
- Tata Chemicals Ltd - India
- India Bulls Power Limited - India
- Sindya Power Generating Company Private Ltd
- Ind-Barath Power Infra Limited - India
- Minerals Council of Australia
- Baramulti Group, Indonesia
- Chettinad Cement Corporation Ltd - India
- Coastal Gujarat Power Limited - India
- Borneo Indobara - Indonesia
- Latin American Coal - Colombia
- ASAPP Information Group - India
- Videocon Industries ltd - India
- Vedanta Resources Plc - India
- Electricity Authority, New Zealand
- Australian Commodity Traders Exchange
- Meralco Power Generation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Essar Steel Hazira Ltd - India
- Chamber of Mines of South Africa
- Bahari Cakrawala Sebuku - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Romanian Commodities Exchange
- Therma Luzon, Inc, Philippines
- Savvy Resources Ltd - HongKong
- Pipit Mutiara Jaya. PT, Indonesia
- Eastern Coal Council - USA
- GVK Power & Infra Limited - India
- Medco Energi Mining Internasional
- Indika Energy - Indonesia
- White Energy Company Limited
- SN Aboitiz Power Inc, Philippines
- Mercuria Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Meenaskhi Energy Private Limited - India
- Sinarmas Energy and Mining - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Parry Sugars Refinery, India
- Energy Development Corp, Philippines
- Coalindo Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Kobexindo Tractors - Indoneisa
- Carbofer General Trading SA - India
- Rio Tinto Coal - Australia
- Kepco SPC Power Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Interocean Group of Companies - India
- Altura Mining Limited, Indonesia
- Directorate Of Revenue Intelligence - India
- AsiaOL BioFuels Corp., Philippines
- Indo Tambangraya Megah - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Planning Commission, India
- Ministry of Transport, Egypt
- Sakthi Sugars Limited - India
- Bulk Trading Sa - Switzerland
- Coal and Oil Company - UAE
- Mintek Dendrill Indonesia
- Star Paper Mills Limited - India
- Bhatia International Limited - India
- Simpson Spence & Young - Indonesia
- CIMB Investment Bank - Malaysia
- GMR Energy Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- MS Steel International - UAE
- Bayan Resources Tbk. - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Cement Manufacturers Association - India
- Dalmia Cement Bharat India
- Jaiprakash Power Ventures ltd
- Gujarat Mineral Development Corp Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Leighton Contractors Pty Ltd - Australia
- Global Business Power Corporation, Philippines
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