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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, 14 July 12
FREIGHT MARKET SEEMS TO BE QUITE VOLATILE - VISTAAR
COALspot.com - The market seems to be quite volatile with the trend changing almost every week. This week all the segments were down except for Pana ...
Friday, 13 July 12
TRANSCOAL MINERGY HAS RECEIVED PMA STATUS IN INDONESIA
COALspot.com - PT Transcoal Minergy (“TCM”) has received official foreign owned company status from the Capital Investment Coordinating ...
Thursday, 12 July 12
LACK OF CAPESIZE DEMAND DRAGS DRY BULK MARKET LOWER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
A lack of demand for the larger Capesize dry bulk carriers had as a result the fall of the industry’s benchmark, the BDI (Baltic Dry Index), w ...
Thursday, 12 July 12
RIO TINTO'S SENIOR MANAGEMENT CHANGES
COALspot.com - Rio Tinto is making changes to its senior management team as chief financial officer (CFO) Guy Elliott has decided to retire at the e ...
Thursday, 12 July 12
SOUTHGOBI RESOURCES ANNOUNCES NOTICE OF INVESTMENT DISPUTE FILED AGAINST MONGOLIAN GOVERNMENT
Press Release - SouthGobi Resources Ltd. (TSX: SGQ, HK: 1878) (“SouthGobi”) announced today that SGQ Coal Investment Pte. Ltd., a wholly ...
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- Minerals Council of Australia
- Sinarmas Energy and Mining - Indonesia
- Coastal Gujarat Power Limited - India
- Kumho Petrochemical, South Korea
- Siam City Cement - Thailand
- Gujarat Mineral Development Corp Ltd - India
- Antam Resourcindo - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Indonesian Coal Mining Association
- Rashtriya Ispat Nigam Limited - India
- Edison Trading Spa - Italy
- Mjunction Services Limited - India
- Aboitiz Power Corporation - Philippines
- Wilmar Investment Holdings
- Indian Energy Exchange, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- PTC India Limited - India
- Madhucon Powers Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- ASAPP Information Group - India
- Bukit Asam (Persero) Tbk - Indonesia
- Makarim & Taira - Indonesia
- London Commodity Brokers - England
- SMG Consultants - Indonesia
- Pendopo Energi Batubara - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Orica Mining Services - Indonesia
- Independent Power Producers Association of India
- Romanian Commodities Exchange
- Tamil Nadu electricity Board
- Maharashtra Electricity Regulatory Commission - India
- Kideco Jaya Agung - Indonesia
- Savvy Resources Ltd - HongKong
- PetroVietnam Power Coal Import and Supply Company
- Dalmia Cement Bharat India
- Star Paper Mills Limited - India
- Vizag Seaport Private Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Mintek Dendrill Indonesia
- Global Coal Blending Company Limited - Australia
- Bhatia International Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Energy Link Ltd, New Zealand
- Renaissance Capital - South Africa
- Vijayanagar Sugar Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Orica Australia Pty. Ltd.
- Indian Oil Corporation Limited
- Posco Energy - South Korea
- Sindya Power Generating Company Private Ltd
- Xindia Steels Limited - India
- Kartika Selabumi Mining - Indonesia
- Videocon Industries ltd - India
- Gujarat Sidhee Cement - India
- Deloitte Consulting - India
- Global Green Power PLC Corporation, Philippines
- McConnell Dowell - Australia
- Bulk Trading Sa - Switzerland
- Thiess Contractors Indonesia
- Vedanta Resources Plc - India
- Georgia Ports Authority, United States
- Carbofer General Trading SA - India
- Parliament of New Zealand
- Baramulti Group, Indonesia
- Thai Mozambique Logistica
- Indogreen Group - Indonesia
- Toyota Tsusho Corporation, Japan
- Globalindo Alam Lestari - Indonesia
- Siam City Cement PLC, Thailand
- Agrawal Coal Company - India
- New Zealand Coal & Carbon
- ICICI Bank Limited - India
- Essar Steel Hazira Ltd - India
- Indika Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Economic Council, Georgia
- Riau Bara Harum - Indonesia
- Bukit Baiduri Energy - Indonesia
- Lanco Infratech Ltd - India
- Wood Mackenzie - Singapore
- Coalindo Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- IHS Mccloskey Coal Group - USA
- European Bulk Services B.V. - Netherlands
- Samtan Co., Ltd - South Korea
- The University of Queensland
- South Luzon Thermal Energy Corporation
- Larsen & Toubro Limited - India
- VISA Power Limited - India
- Kaltim Prima Coal - Indonesia
- PowerSource Philippines DevCo
- GVK Power & Infra Limited - India
- Ministry of Finance - Indonesia
- Commonwealth Bank - Australia
- Manunggal Multi Energi - Indonesia
- Central Java Power - Indonesia
- Kapuas Tunggal Persada - Indonesia
- GMR Energy Limited - India
- OPG Power Generation Pvt Ltd - India
- Bhushan Steel Limited - India
- San Jose City I Power Corp, Philippines
- CIMB Investment Bank - Malaysia
- Krishnapatnam Port Company Ltd. - India
- Bayan Resources Tbk. - Indonesia
- Singapore Mercantile Exchange
- Interocean Group of Companies - India
- Salva Resources Pvt Ltd - India
- CNBM International Corporation - China
- Australian Coal Association
- Semirara Mining Corp, Philippines
- Indo Tambangraya Megah - Indonesia
- Electricity Generating Authority of Thailand
- Meenaskhi Energy Private Limited - India
- Ministry of Mines - Canada
- Heidelberg Cement - Germany
- Price Waterhouse Coopers - Russia
- Ambuja Cements Ltd - India
- The Treasury - Australian Government
- Eastern Energy - Thailand
- Maheswari Brothers Coal Limited - India
- Global Business Power Corporation, Philippines
- India Bulls Power Limited - India
- Chamber of Mines of South Africa
- Metalloyd Limited - United Kingdom
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Kobexindo Tractors - Indoneisa
- Bharathi Cement Corporation - India
- Aditya Birla Group - India
- Bukit Makmur.PT - Indonesia
- Oldendorff Carriers - Singapore
- Africa Commodities Group - South Africa
- TNB Fuel Sdn Bhd - Malaysia
- Attock Cement Pakistan Limited
- Altura Mining Limited, Indonesia
- Trasteel International SA, Italy
- Bangladesh Power Developement Board
- Coal and Oil Company - UAE
- Merrill Lynch Commodities Europe
- GAC Shipping (India) Pvt Ltd
- Semirara Mining and Power Corporation, Philippines
- MS Steel International - UAE
- AsiaOL BioFuels Corp., Philippines
- Latin American Coal - Colombia
- Parry Sugars Refinery, India
- Medco Energi Mining Internasional
- Jaiprakash Power Ventures ltd
- Ceylon Electricity Board - Sri Lanka
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- The State Trading Corporation of India Ltd
- Energy Development Corp, Philippines
- Billiton Holdings Pty Ltd - Australia
- Kepco SPC Power Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sical Logistics Limited - India
- Alfred C Toepfer International GmbH - Germany
- Port Waratah Coal Services - Australia
- Mercator Lines Limited - India
- Binh Thuan Hamico - Vietnam
- Power Finance Corporation Ltd., India
- SMC Global Power, Philippines
- Mercuria Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Iligan Light & Power Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- Tata Chemicals Ltd - India
- Planning Commission, India
- Marubeni Corporation - India
- GN Power Mariveles Coal Plant, Philippines
- Australian Commodity Traders Exchange
- PNOC Exploration Corporation - Philippines
- Meralco Power Generation, Philippines
- LBH Netherlands Bv - Netherlands
- Eastern Coal Council - USA
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Barasentosa Lestari - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Sojitz Corporation - Japan
- Electricity Authority, New Zealand
- Holcim Trading Pte Ltd - Singapore
- Timah Investasi Mineral - Indoneisa
- TeaM Sual Corporation - Philippines
- Therma Luzon, Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Simpson Spence & Young - Indonesia
- Malabar Cements Ltd - India
- Ind-Barath Power Infra Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Central Electricity Authority - India
- Intertek Mineral Services - Indonesia
- Rio Tinto Coal - Australia
- White Energy Company Limited
- Formosa Plastics Group - Taiwan
- Goldman Sachs - Singapore
- Straits Asia Resources Limited - Singapore
- Cement Manufacturers Association - India
- Borneo Indobara - Indonesia
- Banpu Public Company Limited - Thailand
- Standard Chartered Bank - UAE
- International Coal Ventures Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Directorate Of Revenue Intelligence - India
- IEA Clean Coal Centre - UK
- Grasim Industreis Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Uttam Galva Steels Limited - India
- Anglo American - United Kingdom
- Sakthi Sugars Limited - India
- Petron Corporation, Philippines
- Ministry of Transport, Egypt
- Sree Jayajothi Cements Limited - India
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