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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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Tuesday, 03 July 12
DRY BULK MARKET INCHED FORWARD AT THE START OF THE WEEK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market inched forward at the beginning of the new week, prior to the US holidays regarding the celebration of the 4th of July, which is ...
Monday, 02 July 12
ORPHEUS STRENGTHENS REVENUE STREAM WITH NEW ROYALTY AGREEMENT AT THE B2 COAL PROJECT
Orpheus Energy (ASX:OEG) is pleased to advise that it has executed a life of mine Royalty Agreement with Indonesian mining contractor PT Debbia Mini ...
Monday, 02 July 12
DRY BULK DEMAND TO RISE TO 3.6 BILLION TONNES IN 2012, BUT NEW BUILDING DELIVERIES ARE
In its latest analysis on the dry bulk market fundamentals, DVB Bank said that dry bulk cargo demand is forecast to rise to approximately 3.6 billio ...
Sunday, 01 July 12
AUSTRALIAS CARBON TAX - SUNIL K KUMBHAT
COALspot.com - Climate Change
Climate change and global warming have now become buzzwords the world over. The disastrous consequences for global ...
Sunday, 01 July 12
DSP OF SGX ASIACLEAR OTC COAL SWAP'S THIS WEEKS MOVEMENTS SLIGHTLY POSITIVE
COALspot.com - SGX AsiaClear OTC Coal Swaps have recovered slightly this week and Q4 deliveries are also showing positive direction.
SGX’s ...
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- Globalindo Alam Lestari - Indonesia
- Dalmia Cement Bharat India
- GN Power Mariveles Coal Plant, Philippines
- Indonesian Coal Mining Association
- Chamber of Mines of South Africa
- Interocean Group of Companies - India
- Sakthi Sugars Limited - India
- Ambuja Cements Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Madhucon Powers Ltd - India
- Independent Power Producers Association of India
- IHS Mccloskey Coal Group - USA
- Maheswari Brothers Coal Limited - India
- Ministry of Transport, Egypt
- Gujarat Electricity Regulatory Commission - India
- European Bulk Services B.V. - Netherlands
- Barasentosa Lestari - Indonesia
- Parliament of New Zealand
- Marubeni Corporation - India
- Neyveli Lignite Corporation Ltd, - India
- Alfred C Toepfer International GmbH - Germany
- CIMB Investment Bank - Malaysia
- SN Aboitiz Power Inc, Philippines
- Bangladesh Power Developement Board
- Economic Council, Georgia
- Port Waratah Coal Services - Australia
- Bayan Resources Tbk. - Indonesia
- Antam Resourcindo - Indonesia
- Samtan Co., Ltd - South Korea
- India Bulls Power Limited - India
- Bharathi Cement Corporation - India
- Malabar Cements Ltd - India
- Cement Manufacturers Association - India
- Bukit Asam (Persero) Tbk - Indonesia
- Carbofer General Trading SA - India
- Star Paper Mills Limited - India
- Global Coal Blending Company Limited - Australia
- Romanian Commodities Exchange
- White Energy Company Limited
- GMR Energy Limited - India
- TeaM Sual Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Lanco Infratech Ltd - India
- Sojitz Corporation - Japan
- Bulk Trading Sa - Switzerland
- Kapuas Tunggal Persada - Indonesia
- The State Trading Corporation of India Ltd
- Energy Link Ltd, New Zealand
- Vedanta Resources Plc - India
- Aboitiz Power Corporation - Philippines
- Billiton Holdings Pty Ltd - Australia
- McConnell Dowell - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Coal and Oil Company - UAE
- Wilmar Investment Holdings
- Jaiprakash Power Ventures ltd
- Africa Commodities Group - South Africa
- Global Business Power Corporation, Philippines
- Petron Corporation, Philippines
- Attock Cement Pakistan Limited
- Tamil Nadu electricity Board
- Cigading International Bulk Terminal - Indonesia
- The University of Queensland
- Mintek Dendrill Indonesia
- PNOC Exploration Corporation - Philippines
- Riau Bara Harum - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Mjunction Services Limited - India
- Salva Resources Pvt Ltd - India
- CNBM International Corporation - China
- Mercuria Energy - Indonesia
- Electricity Authority, New Zealand
- Power Finance Corporation Ltd., India
- Rio Tinto Coal - Australia
- Formosa Plastics Group - Taiwan
- Goldman Sachs - Singapore
- PTC India Limited - India
- Uttam Galva Steels Limited - India
- Renaissance Capital - South Africa
- Merrill Lynch Commodities Europe
- PowerSource Philippines DevCo
- Grasim Industreis Ltd - India
- Baramulti Group, Indonesia
- Sinarmas Energy and Mining - Indonesia
- Toyota Tsusho Corporation, Japan
- Central Java Power - Indonesia
- LBH Netherlands Bv - Netherlands
- Medco Energi Mining Internasional
- Borneo Indobara - Indonesia
- South Luzon Thermal Energy Corporation
- Singapore Mercantile Exchange
- VISA Power Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Deloitte Consulting - India
- Aditya Birla Group - India
- Commonwealth Bank - Australia
- Kepco SPC Power Corporation, Philippines
- Semirara Mining Corp, Philippines
- Bhoruka Overseas - Indonesia
- Kartika Selabumi Mining - Indonesia
- Jindal Steel & Power Ltd - India
- Ind-Barath Power Infra Limited - India
- GAC Shipping (India) Pvt Ltd
- Makarim & Taira - Indonesia
- Edison Trading Spa - Italy
- ASAPP Information Group - India
- Kideco Jaya Agung - Indonesia
- Australian Coal Association
- Karaikal Port Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- San Jose City I Power Corp, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Semirara Mining and Power Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Indogreen Group - Indonesia
- Meenaskhi Energy Private Limited - India
- Directorate General of MIneral and Coal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Thiess Contractors Indonesia
- Kaltim Prima Coal - Indonesia
- Indian Oil Corporation Limited
- Tata Chemicals Ltd - India
- Georgia Ports Authority, United States
- Gujarat Sidhee Cement - India
- Wood Mackenzie - Singapore
- ICICI Bank Limited - India
- Coastal Gujarat Power Limited - India
- Holcim Trading Pte Ltd - Singapore
- Latin American Coal - Colombia
- Bukit Makmur.PT - Indonesia
- Kumho Petrochemical, South Korea
- Leighton Contractors Pty Ltd - Australia
- Rashtriya Ispat Nigam Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Eastern Coal Council - USA
- Simpson Spence & Young - Indonesia
- Minerals Council of Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Oldendorff Carriers - Singapore
- SMC Global Power, Philippines
- London Commodity Brokers - England
- Orica Australia Pty. Ltd.
- Energy Development Corp, Philippines
- Posco Energy - South Korea
- AsiaOL BioFuels Corp., Philippines
- Ministry of Mines - Canada
- Siam City Cement PLC, Thailand
- Parry Sugars Refinery, India
- Altura Mining Limited, Indonesia
- Mercator Lines Limited - India
- Planning Commission, India
- Vijayanagar Sugar Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- OPG Power Generation Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Electricity Generating Authority of Thailand
- Price Waterhouse Coopers - Russia
- Meralco Power Generation, Philippines
- Sarangani Energy Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Ministry of Finance - Indonesia
- Banpu Public Company Limited - Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- New Zealand Coal & Carbon
- IEA Clean Coal Centre - UK
- The Treasury - Australian Government
- Bhatia International Limited - India
- Savvy Resources Ltd - HongKong
- Kalimantan Lumbung Energi - Indonesia
- Siam City Cement - Thailand
- Karbindo Abesyapradhi - Indoneisa
- Xindia Steels Limited - India
- Larsen & Toubro Limited - India
- Australian Commodity Traders Exchange
- GVK Power & Infra Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Indo Tambangraya Megah - Indonesia
- Central Electricity Authority - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indika Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Eastern Energy - Thailand
- Intertek Mineral Services - Indonesia
- Directorate Of Revenue Intelligence - India
- Manunggal Multi Energi - Indonesia
- Sree Jayajothi Cements Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indian Energy Exchange, India
- Iligan Light & Power Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Straits Asia Resources Limited - Singapore
- Anglo American - United Kingdom
- Kobexindo Tractors - Indoneisa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Timah Investasi Mineral - Indoneisa
- Therma Luzon, Inc, Philippines
- Bhushan Steel Limited - India
- MS Steel International - UAE
- Bukit Baiduri Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Standard Chartered Bank - UAE
- Ceylon Electricity Board - Sri Lanka
- Heidelberg Cement - Germany
- Agrawal Coal Company - India
- Trasteel International SA, Italy
- Sindya Power Generating Company Private Ltd
- Coalindo Energy - Indonesia
- Sical Logistics Limited - India
- Vizag Seaport Private Limited - India
- SMG Consultants - Indonesia
- Orica Mining Services - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Thai Mozambique Logistica
- Videocon Industries ltd - India
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