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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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Friday, 27 July 12
PACIFIC MARKET REMAINED FLAT - FEARNLEYS AS
Handy
The Atlantic market continued its downward trend from last week with what appears to be a summer lull across the board. A trip from the USG t ...
Wednesday, 25 July 12
BUKIT ASAMS H1 REVENUE JUMPED BY 13 PERCENT
COALspot.com - PT Bukit Asam (Persero), Tbk., the state owned coal miner's revenue in H1 2012, has jumped 13 percent to IDR 5.79 trillion (approxim ...
Wednesday, 25 July 12
BUMI RESOURCES MINERALS SECURED PINJAM PAKAI FOR ITS ZINC AND LEAD PROJECT
COALspot.com - PT Bumi Resources Minerals Tbk. ("BRMS" or "the Company") today reported that its 80% owned subsidiary, PT Dairi ...
Tuesday, 24 July 12
SHIP OWNERS WAITING FOR SHIP PRICES TO FALL FURTHER BEFORE MOVING IN MORE AGGRESSIVELY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With the summer season already well under way and many ship owners getting ready for the autumn, the sale & purchasing activity of second hand v ...
Monday, 23 July 12
NTPC INVITES BIDS FOR 2.6 MILLION TONS OF LOW MOISTURE IMPORTED COAL
COALspot.com - India’s largest electricity generator, NTPC Limited, incorporated in 1975 as a public sector company wholly owned by Government ...
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- Sakthi Sugars Limited - India
- Ceylon Electricity Board - Sri Lanka
- Uttam Galva Steels Limited - India
- Bukit Makmur.PT - Indonesia
- South Luzon Thermal Energy Corporation
- Vedanta Resources Plc - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Central Electricity Authority - India
- PTC India Limited - India
- Merrill Lynch Commodities Europe
- Petron Corporation, Philippines
- Attock Cement Pakistan Limited
- Africa Commodities Group - South Africa
- Heidelberg Cement - Germany
- Ministry of Transport, Egypt
- SMC Global Power, Philippines
- Global Business Power Corporation, Philippines
- Ministry of Mines - Canada
- Cigading International Bulk Terminal - Indonesia
- Samtan Co., Ltd - South Korea
- Port Waratah Coal Services - Australia
- Renaissance Capital - South Africa
- Coastal Gujarat Power Limited - India
- Parry Sugars Refinery, India
- Videocon Industries ltd - India
- Wood Mackenzie - Singapore
- AsiaOL BioFuels Corp., Philippines
- Georgia Ports Authority, United States
- Vizag Seaport Private Limited - India
- SMG Consultants - Indonesia
- Standard Chartered Bank - UAE
- Madhucon Powers Ltd - India
- Metalloyd Limited - United Kingdom
- GN Power Mariveles Coal Plant, Philippines
- Edison Trading Spa - Italy
- The Treasury - Australian Government
- Ambuja Cements Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Timah Investasi Mineral - Indoneisa
- ASAPP Information Group - India
- Larsen & Toubro Limited - India
- Gujarat Electricity Regulatory Commission - India
- Directorate General of MIneral and Coal - Indonesia
- Indo Tambangraya Megah - Indonesia
- CIMB Investment Bank - Malaysia
- Meenaskhi Energy Private Limited - India
- Binh Thuan Hamico - Vietnam
- Maheswari Brothers Coal Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Kalimantan Lumbung Energi - Indonesia
- Meralco Power Generation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Power Finance Corporation Ltd., India
- Indian Energy Exchange, India
- Semirara Mining and Power Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Toyota Tsusho Corporation, Japan
- Bhatia International Limited - India
- Kaltim Prima Coal - Indonesia
- IEA Clean Coal Centre - UK
- Gujarat Sidhee Cement - India
- Dalmia Cement Bharat India
- Krishnapatnam Port Company Ltd. - India
- Jindal Steel & Power Ltd - India
- Bangladesh Power Developement Board
- European Bulk Services B.V. - Netherlands
- Electricity Generating Authority of Thailand
- Interocean Group of Companies - India
- Kartika Selabumi Mining - Indonesia
- Salva Resources Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Chamber of Mines of South Africa
- Tamil Nadu electricity Board
- Baramulti Group, Indonesia
- TeaM Sual Corporation - Philippines
- Siam City Cement PLC, Thailand
- Posco Energy - South Korea
- Ind-Barath Power Infra Limited - India
- Sinarmas Energy and Mining - Indonesia
- Deloitte Consulting - India
- Bhoruka Overseas - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Karaikal Port Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Straits Asia Resources Limited - Singapore
- Mjunction Services Limited - India
- Wilmar Investment Holdings
- Borneo Indobara - Indonesia
- GMR Energy Limited - India
- Eastern Energy - Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Antam Resourcindo - Indonesia
- Parliament of New Zealand
- Ministry of Finance - Indonesia
- Lanco Infratech Ltd - India
- Kepco SPC Power Corporation, Philippines
- Latin American Coal - Colombia
- Makarim & Taira - Indonesia
- Aboitiz Power Corporation - Philippines
- Pendopo Energi Batubara - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Billiton Holdings Pty Ltd - Australia
- Independent Power Producers Association of India
- Agrawal Coal Company - India
- Indian Oil Corporation Limited
- Asia Pacific Energy Resources Ventures Inc, Philippines
- VISA Power Limited - India
- Altura Mining Limited, Indonesia
- New Zealand Coal & Carbon
- Therma Luzon, Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Malabar Cements Ltd - India
- Orica Australia Pty. Ltd.
- Leighton Contractors Pty Ltd - Australia
- Gujarat Mineral Development Corp Ltd - India
- Bulk Trading Sa - Switzerland
- Australian Commodity Traders Exchange
- Electricity Authority, New Zealand
- Indonesian Coal Mining Association
- Rashtriya Ispat Nigam Limited - India
- Directorate Of Revenue Intelligence - India
- Oldendorff Carriers - Singapore
- Anglo American - United Kingdom
- Bukit Baiduri Energy - Indonesia
- Orica Mining Services - Indonesia
- Simpson Spence & Young - Indonesia
- Rio Tinto Coal - Australia
- Sical Logistics Limited - India
- Medco Energi Mining Internasional
- LBH Netherlands Bv - Netherlands
- Kapuas Tunggal Persada - Indonesia
- Cement Manufacturers Association - India
- Essar Steel Hazira Ltd - India
- Singapore Mercantile Exchange
- Xindia Steels Limited - India
- San Jose City I Power Corp, Philippines
- IHS Mccloskey Coal Group - USA
- Romanian Commodities Exchange
- Aditya Birla Group - India
- Savvy Resources Ltd - HongKong
- Minerals Council of Australia
- Price Waterhouse Coopers - Russia
- Banpu Public Company Limited - Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- India Bulls Power Limited - India
- Thai Mozambique Logistica
- Jorong Barutama Greston.PT - Indonesia
- Intertek Mineral Services - Indonesia
- Energy Link Ltd, New Zealand
- Sree Jayajothi Cements Limited - India
- Marubeni Corporation - India
- ICICI Bank Limited - India
- Mercator Lines Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Commonwealth Bank - Australia
- Formosa Plastics Group - Taiwan
- Tata Chemicals Ltd - India
- The State Trading Corporation of India Ltd
- Chettinad Cement Corporation Ltd - India
- Miang Besar Coal Terminal - Indonesia
- White Energy Company Limited
- Sindya Power Generating Company Private Ltd
- Kideco Jaya Agung - Indonesia
- Riau Bara Harum - Indonesia
- GVK Power & Infra Limited - India
- CNBM International Corporation - China
- Trasteel International SA, Italy
- Holcim Trading Pte Ltd - Singapore
- Siam City Cement - Thailand
- Grasim Industreis Ltd - India
- Global Green Power PLC Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- The University of Queensland
- Central Java Power - Indonesia
- GAC Shipping (India) Pvt Ltd
- London Commodity Brokers - England
- Iligan Light & Power Inc, Philippines
- Goldman Sachs - Singapore
- Kobexindo Tractors - Indoneisa
- Sarangani Energy Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Mercuria Energy - Indonesia
- McConnell Dowell - Australia
- Karbindo Abesyapradhi - Indoneisa
- Global Coal Blending Company Limited - Australia
- Indogreen Group - Indonesia
- Indika Energy - Indonesia
- Jaiprakash Power Ventures ltd
- PowerSource Philippines DevCo
- Planning Commission, India
- Thiess Contractors Indonesia
- Bayan Resources Tbk. - Indonesia
- Eastern Coal Council - USA
- Sojitz Corporation - Japan
- Energy Development Corp, Philippines
- Mintek Dendrill Indonesia
- SN Aboitiz Power Inc, Philippines
- MS Steel International - UAE
- Bhushan Steel Limited - India
- Coalindo Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Carbofer General Trading SA - India
- PNOC Exploration Corporation - Philippines
- Coal and Oil Company - UAE
- Star Paper Mills Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Asmin Koalindo Tuhup - Indonesia
- Semirara Mining Corp, Philippines
- Bharathi Cement Corporation - India
- Manunggal Multi Energi - Indonesia
- Australian Coal Association
- Barasentosa Lestari - Indonesia
- Economic Council, Georgia
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