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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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Monday, 06 August 12
COAL EXPORTS COULD ADD $2B TO $6B ANNUALLY TO U.S. ECONOMY - HELLENIC SHIPPING
Business groups backing Pacific Northwest coal export proposals on Thursday lauded a new report that claims increased U.S. coal exports could bring ...
Sunday, 05 August 12
SUB-BIT INDONESIA COAL SWAPS ARE WAY UP
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for September 2012 delivery gain 1.36 percent on Friday (3 August 2012) closing W-o-W but gained& ...
Sunday, 05 August 12
INDONESIA'S ADARO TRIMS PRODUCTION FORECAST, CITES BAD ECONOMY - THE JAKARTA GLOBE
The Jakarta globe reported that, Adaro Energy, the country’s second-largest coal producer, has cut its annual production forecast to between ...
Sunday, 05 August 12
DRY BULK FREIGHT MARKET TO STAY WEAK NEXT COUPLE OF WEEKS - VISTAAR
COALspot.com - The freight market continued to soften further in all segments.
The BDI was down by 8.68 pct closing at 852 points. The cape index ...
Friday, 03 August 12
INDIA - LIGHTS OUT! - SALVA
The Indian power sector hit global headlines this week for all the wrong reasons. Firstly, on Monday, over 350 million people lost power across nort ...
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- Trasteel International SA, Italy
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Chettinad Cement Corporation Ltd - India
- OPG Power Generation Pvt Ltd - India
- CNBM International Corporation - China
- Coastal Gujarat Power Limited - India
- Australian Coal Association
- SMC Global Power, Philippines
- Coalindo Energy - Indonesia
- Electricity Generating Authority of Thailand
- Asmin Koalindo Tuhup - Indonesia
- Indika Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Goldman Sachs - Singapore
- Aditya Birla Group - India
- ICICI Bank Limited - India
- Sindya Power Generating Company Private Ltd
- Central Java Power - Indonesia
- Medco Energi Mining Internasional
- Australian Commodity Traders Exchange
- Miang Besar Coal Terminal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Meenaskhi Energy Private Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- MS Steel International - UAE
- Marubeni Corporation - India
- Star Paper Mills Limited - India
- Ministry of Transport, Egypt
- Siam City Cement - Thailand
- Directorate Of Revenue Intelligence - India
- Indo Tambangraya Megah - Indonesia
- Mintek Dendrill Indonesia
- Billiton Holdings Pty Ltd - Australia
- International Coal Ventures Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- PetroVietnam Power Coal Import and Supply Company
- Bukit Asam (Persero) Tbk - Indonesia
- Makarim & Taira - Indonesia
- IEA Clean Coal Centre - UK
- Global Coal Blending Company Limited - Australia
- Mercator Lines Limited - India
- GVK Power & Infra Limited - India
- Gujarat Sidhee Cement - India
- Bhushan Steel Limited - India
- Tamil Nadu electricity Board
- Bhoruka Overseas - Indonesia
- Anglo American - United Kingdom
- Grasim Industreis Ltd - India
- Indian Energy Exchange, India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sojitz Corporation - Japan
- Eastern Coal Council - USA
- Binh Thuan Hamico - Vietnam
- Indonesian Coal Mining Association
- Attock Cement Pakistan Limited
- Wilmar Investment Holdings
- Kohat Cement Company Ltd. - Pakistan
- Mjunction Services Limited - India
- Karbindo Abesyapradhi - Indoneisa
- SMG Consultants - Indonesia
- Merrill Lynch Commodities Europe
- Toyota Tsusho Corporation, Japan
- Bhatia International Limited - India
- The University of Queensland
- Ministry of Mines - Canada
- Indian Oil Corporation Limited
- Orica Mining Services - Indonesia
- SN Aboitiz Power Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Formosa Plastics Group - Taiwan
- Madhucon Powers Ltd - India
- Essar Steel Hazira Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Sakthi Sugars Limited - India
- McConnell Dowell - Australia
- Kalimantan Lumbung Energi - Indonesia
- Chamber of Mines of South Africa
- Uttam Galva Steels Limited - India
- Vizag Seaport Private Limited - India
- Standard Chartered Bank - UAE
- Krishnapatnam Port Company Ltd. - India
- Bayan Resources Tbk. - Indonesia
- Dalmia Cement Bharat India
- Wood Mackenzie - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- IHS Mccloskey Coal Group - USA
- Simpson Spence & Young - Indonesia
- Commonwealth Bank - Australia
- Power Finance Corporation Ltd., India
- Larsen & Toubro Limited - India
- Latin American Coal - Colombia
- GAC Shipping (India) Pvt Ltd
- Sinarmas Energy and Mining - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Kobexindo Tractors - Indoneisa
- Bharathi Cement Corporation - India
- Heidelberg Cement - Germany
- South Luzon Thermal Energy Corporation
- Global Green Power PLC Corporation, Philippines
- Salva Resources Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- GN Power Mariveles Coal Plant, Philippines
- Price Waterhouse Coopers - Russia
- Indogreen Group - Indonesia
- Energy Development Corp, Philippines
- Bukit Baiduri Energy - Indonesia
- Eastern Energy - Thailand
- Cement Manufacturers Association - India
- Petrochimia International Co. Ltd.- Taiwan
- Kumho Petrochemical, South Korea
- Globalindo Alam Lestari - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Energy Link Ltd, New Zealand
- Tata Chemicals Ltd - India
- Kapuas Tunggal Persada - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- AsiaOL BioFuels Corp., Philippines
- Planning Commission, India
- ASAPP Information Group - India
- Sarangani Energy Corporation, Philippines
- Ministry of Finance - Indonesia
- Sical Logistics Limited - India
- Petron Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Independent Power Producers Association of India
- Ceylon Electricity Board - Sri Lanka
- Therma Luzon, Inc, Philippines
- Karaikal Port Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Semirara Mining Corp, Philippines
- Samtan Co., Ltd - South Korea
- Straits Asia Resources Limited - Singapore
- The Treasury - Australian Government
- Singapore Mercantile Exchange
- Jorong Barutama Greston.PT - Indonesia
- Africa Commodities Group - South Africa
- London Commodity Brokers - England
- Leighton Contractors Pty Ltd - Australia
- Iligan Light & Power Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Ambuja Cements Ltd - India
- Metalloyd Limited - United Kingdom
- Borneo Indobara - Indonesia
- Banpu Public Company Limited - Thailand
- Interocean Group of Companies - India
- Kartika Selabumi Mining - Indonesia
- Jaiprakash Power Ventures ltd
- Deloitte Consulting - India
- India Bulls Power Limited - India
- Rashtriya Ispat Nigam Limited - India
- Intertek Mineral Services - Indonesia
- PowerSource Philippines DevCo
- Kideco Jaya Agung - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- San Jose City I Power Corp, Philippines
- Rio Tinto Coal - Australia
- Parliament of New Zealand
- Jindal Steel & Power Ltd - India
- Romanian Commodities Exchange
- Savvy Resources Ltd - HongKong
- Aboitiz Power Corporation - Philippines
- Bangladesh Power Developement Board
- Riau Bara Harum - Indonesia
- GMR Energy Limited - India
- Kepco SPC Power Corporation, Philippines
- Electricity Authority, New Zealand
- Antam Resourcindo - Indonesia
- Kaltim Prima Coal - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Global Business Power Corporation, Philippines
- Economic Council, Georgia
- Minerals Council of Australia
- Edison Trading Spa - Italy
- Central Electricity Authority - India
- Ind-Barath Power Infra Limited - India
- VISA Power Limited - India
- Oldendorff Carriers - Singapore
- Vedanta Resources Plc - India
- Xindia Steels Limited - India
- Mercuria Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- European Bulk Services B.V. - Netherlands
- Port Waratah Coal Services - Australia
- Malabar Cements Ltd - India
- Videocon Industries ltd - India
- Meralco Power Generation, Philippines
- Orica Australia Pty. Ltd.
- Timah Investasi Mineral - Indoneisa
- New Zealand Coal & Carbon
- The State Trading Corporation of India Ltd
- PNOC Exploration Corporation - Philippines
- Georgia Ports Authority, United States
- Barasentosa Lestari - Indonesia
- Thiess Contractors Indonesia
- Bulk Trading Sa - Switzerland
- Coal and Oil Company - UAE
- Parry Sugars Refinery, India
- Agrawal Coal Company - India
- Baramulti Group, Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Directorate General of MIneral and Coal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- White Energy Company Limited
- Thai Mozambique Logistica
- Siam City Cement PLC, Thailand
- Carbofer General Trading SA - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Makmur.PT - Indonesia
- PTC India Limited - India
- Renaissance Capital - South Africa
- Altura Mining Limited, Indonesia
- Lanco Infratech Ltd - India
- Posco Energy - South Korea
- Manunggal Multi Energi - Indonesia
- Gujarat Mineral Development Corp Ltd - India
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