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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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Thursday, 02 August 12
OIL & GAS COMPANIES TO MEET IN MYANMAR FOR UPDATES ON NEW ROUND OF BIDDING AND INVESTMENT POTENTIAL IN UPSTREAM OIL, GAS, AND POWER GENERATION
Press Release - 2nd MOGP Summit (Myanmar Oil, Gas & Power) will convene in Yangon from 3 – 6 September 2012, to unveil new round of biddin ...
Thursday, 02 August 12
DRY BULK MARKET RATES CONTINUE SLUMP AMID SLOWER DEMAND NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market kept on its downward path Wednesday, as the BDI (Baltic Dry Index) kept retreating to new lows. The index was down by 2.12 perce ...
Monday, 30 July 12
DRY BULK MARKET TO REMAIN UNDER PRESSURE FOR THE REST OF 2012 - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
In an interview with Hellenic Shipping News Worldwide, Mr. Yannis Pachoulis, President of the Hellenic Shipbrokers' Association, remains cautiously ...
Sunday, 29 July 12
FREIGHT MARKET MOMENTUM CONTINUES TO WEAK
COALspot.com - The freight market continued to soft this week with all the segments dropped and the BDI fell below 1,000 points and closed at 933 po ...
Saturday, 28 July 12
CAL 2013 COAL SWAPS ARE HIGHER COMPARED TO SEPT 2012 PRICES
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for September 2012 delivery gain 0.47 percent on Friday (27 July 2012) closing DoD but lost 0.90 ...
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- Uttam Galva Steels Limited - India
- Chettinad Cement Corporation Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Interocean Group of Companies - India
- Marubeni Corporation - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Maharashtra Electricity Regulatory Commission - India
- Bangladesh Power Developement Board
- ASAPP Information Group - India
- Tamil Nadu electricity Board
- AsiaOL BioFuels Corp., Philippines
- PNOC Exploration Corporation - Philippines
- Australian Commodity Traders Exchange
- GMR Energy Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- Romanian Commodities Exchange
- Global Green Power PLC Corporation, Philippines
- CNBM International Corporation - China
- Alfred C Toepfer International GmbH - Germany
- Mintek Dendrill Indonesia
- SN Aboitiz Power Inc, Philippines
- Antam Resourcindo - Indonesia
- Planning Commission, India
- Karaikal Port Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Siam City Cement PLC, Thailand
- Meenaskhi Energy Private Limited - India
- Medco Energi Mining Internasional
- Bayan Resources Tbk. - Indonesia
- Aditya Birla Group - India
- Billiton Holdings Pty Ltd - Australia
- Petron Corporation, Philippines
- Coalindo Energy - Indonesia
- Goldman Sachs - Singapore
- Eastern Energy - Thailand
- Kapuas Tunggal Persada - Indonesia
- Savvy Resources Ltd - HongKong
- Coal and Oil Company - UAE
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- London Commodity Brokers - England
- Anglo American - United Kingdom
- Central Electricity Authority - India
- Standard Chartered Bank - UAE
- MS Steel International - UAE
- Neyveli Lignite Corporation Ltd, - India
- Timah Investasi Mineral - Indoneisa
- Bharathi Cement Corporation - India
- Vizag Seaport Private Limited - India
- Borneo Indobara - Indonesia
- Malabar Cements Ltd - India
- TeaM Sual Corporation - Philippines
- Sojitz Corporation - Japan
- Oldendorff Carriers - Singapore
- PowerSource Philippines DevCo
- Metalloyd Limited - United Kingdom
- Krishnapatnam Port Company Ltd. - India
- Kaltim Prima Coal - Indonesia
- Toyota Tsusho Corporation, Japan
- Tata Chemicals Ltd - India
- Sakthi Sugars Limited - India
- Bhatia International Limited - India
- Jindal Steel & Power Ltd - India
- The Treasury - Australian Government
- Therma Luzon, Inc, Philippines
- Star Paper Mills Limited - India
- European Bulk Services B.V. - Netherlands
- South Luzon Thermal Energy Corporation
- Essar Steel Hazira Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Edison Trading Spa - Italy
- Binh Thuan Hamico - Vietnam
- SMG Consultants - Indonesia
- Wilmar Investment Holdings
- Economic Council, Georgia
- Commonwealth Bank - Australia
- VISA Power Limited - India
- Bhushan Steel Limited - India
- Globalindo Alam Lestari - Indonesia
- Kepco SPC Power Corporation, Philippines
- Ministry of Transport, Egypt
- Gujarat Mineral Development Corp Ltd - India
- Merrill Lynch Commodities Europe
- The University of Queensland
- Global Business Power Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Bulk Trading Sa - Switzerland
- Sarangani Energy Corporation, Philippines
- Electricity Generating Authority of Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Intertek Mineral Services - Indonesia
- Cement Manufacturers Association - India
- Coastal Gujarat Power Limited - India
- Georgia Ports Authority, United States
- Semirara Mining and Power Corporation, Philippines
- India Bulls Power Limited - India
- Orica Mining Services - Indonesia
- San Jose City I Power Corp, Philippines
- Orica Australia Pty. Ltd.
- Iligan Light & Power Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- Indian Energy Exchange, India
- Riau Bara Harum - Indonesia
- Singapore Mercantile Exchange
- Mercuria Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- White Energy Company Limited
- SMC Global Power, Philippines
- Altura Mining Limited, Indonesia
- Chamber of Mines of South Africa
- The State Trading Corporation of India Ltd
- Ind-Barath Power Infra Limited - India
- GVK Power & Infra Limited - India
- Kideco Jaya Agung - Indonesia
- Rio Tinto Coal - Australia
- Samtan Co., Ltd - South Korea
- Videocon Industries ltd - India
- Sical Logistics Limited - India
- Larsen & Toubro Limited - India
- Ambuja Cements Ltd - India
- Energy Link Ltd, New Zealand
- Kohat Cement Company Ltd. - Pakistan
- Rashtriya Ispat Nigam Limited - India
- Baramulti Group, Indonesia
- Price Waterhouse Coopers - Russia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indian Oil Corporation Limited
- Carbofer General Trading SA - India
- Minerals Council of Australia
- Petrochimia International Co. Ltd.- Taiwan
- Directorate Of Revenue Intelligence - India
- Electricity Authority, New Zealand
- GN Power Mariveles Coal Plant, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Bhoruka Overseas - Indonesia
- Posco Energy - South Korea
- Attock Cement Pakistan Limited
- Dalmia Cement Bharat India
- Parry Sugars Refinery, India
- Bukit Makmur.PT - Indonesia
- IHS Mccloskey Coal Group - USA
- McConnell Dowell - Australia
- Latin American Coal - Colombia
- Indonesian Coal Mining Association
- Wood Mackenzie - Singapore
- Xindia Steels Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kobexindo Tractors - Indoneisa
- IEA Clean Coal Centre - UK
- Kumho Petrochemical, South Korea
- Vedanta Resources Plc - India
- PetroVietnam Power Coal Import and Supply Company
- LBH Netherlands Bv - Netherlands
- Thiess Contractors Indonesia
- Thai Mozambique Logistica
- Ministry of Finance - Indonesia
- Parliament of New Zealand
- Indogreen Group - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Straits Asia Resources Limited - Singapore
- Simpson Spence & Young - Indonesia
- Maheswari Brothers Coal Limited - India
- Bukit Baiduri Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Global Coal Blending Company Limited - Australia
- CIMB Investment Bank - Malaysia
- Salva Resources Pvt Ltd - India
- Independent Power Producers Association of India
- Agrawal Coal Company - India
- OPG Power Generation Pvt Ltd - India
- Eastern Coal Council - USA
- Banpu Public Company Limited - Thailand
- Gujarat Electricity Regulatory Commission - India
- Aboitiz Power Corporation - Philippines
- Indika Energy - Indonesia
- Gujarat Sidhee Cement - India
- Africa Commodities Group - South Africa
- GAC Shipping (India) Pvt Ltd
- International Coal Ventures Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Formosa Plastics Group - Taiwan
- PTC India Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- ICICI Bank Limited - India
- Semirara Mining Corp, Philippines
- Sree Jayajothi Cements Limited - India
- Heidelberg Cement - Germany
- Renaissance Capital - South Africa
- Makarim & Taira - Indonesia
- Siam City Cement - Thailand
- Deloitte Consulting - India
- Barasentosa Lestari - Indonesia
- Manunggal Multi Energi - Indonesia
- Ministry of Mines - Canada
- Energy Development Corp, Philippines
- Sinarmas Energy and Mining - Indonesia
- Lanco Infratech Ltd - India
- Port Waratah Coal Services - Australia
- Central Java Power - Indonesia
- Meralco Power Generation, Philippines
- Pendopo Energi Batubara - Indonesia
- Sindya Power Generating Company Private Ltd
- Madhucon Powers Ltd - India
- Grasim Industreis Ltd - India
- Trasteel International SA, Italy
- Mercator Lines Limited - India
- Australian Coal Association
- Power Finance Corporation Ltd., India
- Cigading International Bulk Terminal - Indonesia
- New Zealand Coal & Carbon
- Kartika Selabumi Mining - Indonesia
- Indo Tambangraya Megah - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mjunction Services Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
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