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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, 30 June 12
THE FREIGHT RATES ARE EXPECTED TO BE STEADY TO FIRM NEXT WEEK - VISTAAR SINGAPORE
COALspot.com – The BDI was up by 2.66 pct (up by 26 points) closing at 1,004 points crossing the 1000 point barrier this week.
The c ...
Friday, 29 June 12
INDONESIAN PRODUCERS ARE PLANNING TO CUT PRODUCTION IF COAL PRICES FALL FURTHER
COALspot.com: Indonesia, the world largest multi grade coal exporter, shipped 31.54* million tons of coal in May 2012, compared to 31.86* mill ...
Friday, 29 June 12
DRY BULK SHIP OWNERS DOING THEIR MATHS BEFORE PLACING NEWBUILDING ORDERS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With oversupply having plagued the dry bulk shipping fleet since the end of 2011, it’s become ever so evident that placing a newbuilding order ...
Thursday, 28 June 12
DRY BULK MARKET HIGHER ON CAPESIZE OPTIMISM - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market inched a bit higher yesterday, as the BDI (Baltic Dry Index) ended up by 0.71% to 988 points. Most ship types were up, with the ...
Wednesday, 27 June 12
DIRECTORATE GENERAL OF MINERAL AND COAL OF INDONESIA INTRODUCES ON-LINE SYSTEM FOR MINING PRODUCTS EXPORT APPROVAL
COALspot.com - Directorate General of Mineral and Coal of Indonesia has released "Clear and Clean" certificate for another 33 coal miners ...
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- Altura Mining Limited, Indonesia
- South Luzon Thermal Energy Corporation
- Ind-Barath Power Infra Limited - India
- TeaM Sual Corporation - Philippines
- Samtan Co., Ltd - South Korea
- Australian Commodity Traders Exchange
- Videocon Industries ltd - India
- Wilmar Investment Holdings
- Orica Australia Pty. Ltd.
- Tamil Nadu electricity Board
- Petrochimia International Co. Ltd.- Taiwan
- Global Business Power Corporation, Philippines
- Wood Mackenzie - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Pipit Mutiara Jaya. PT, Indonesia
- Independent Power Producers Association of India
- Salva Resources Pvt Ltd - India
- Vedanta Resources Plc - India
- Aditya Birla Group - India
- PNOC Exploration Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- New Zealand Coal & Carbon
- Antam Resourcindo - Indonesia
- Kepco SPC Power Corporation, Philippines
- Coalindo Energy - Indonesia
- The University of Queensland
- Energy Development Corp, Philippines
- McConnell Dowell - Australia
- Bhushan Steel Limited - India
- Manunggal Multi Energi - Indonesia
- Heidelberg Cement - Germany
- Attock Cement Pakistan Limited
- Star Paper Mills Limited - India
- Bulk Trading Sa - Switzerland
- European Bulk Services B.V. - Netherlands
- Bukit Asam (Persero) Tbk - Indonesia
- Globalindo Alam Lestari - Indonesia
- Jindal Steel & Power Ltd - India
- Baramulti Group, Indonesia
- Thiess Contractors Indonesia
- Larsen & Toubro Limited - India
- Intertek Mineral Services - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Mercator Lines Limited - India
- Thai Mozambique Logistica
- Binh Thuan Hamico - Vietnam
- Borneo Indobara - Indonesia
- Sojitz Corporation - Japan
- Xindia Steels Limited - India
- Simpson Spence & Young - Indonesia
- Semirara Mining and Power Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Marubeni Corporation - India
- Indonesian Coal Mining Association
- Deloitte Consulting - India
- Aboitiz Power Corporation - Philippines
- Sical Logistics Limited - India
- Tata Chemicals Ltd - India
- Maheswari Brothers Coal Limited - India
- Holcim Trading Pte Ltd - Singapore
- Singapore Mercantile Exchange
- Therma Luzon, Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- IEA Clean Coal Centre - UK
- Minerals Council of Australia
- Kartika Selabumi Mining - Indonesia
- Price Waterhouse Coopers - Russia
- Ceylon Electricity Board - Sri Lanka
- Petron Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Indika Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Barasentosa Lestari - Indonesia
- Parry Sugars Refinery, India
- Vijayanagar Sugar Pvt Ltd - India
- Interocean Group of Companies - India
- Bhatia International Limited - India
- Goldman Sachs - Singapore
- Meralco Power Generation, Philippines
- Indian Oil Corporation Limited
- Merrill Lynch Commodities Europe
- Economic Council, Georgia
- SMG Consultants - Indonesia
- ICICI Bank Limited - India
- Medco Energi Mining Internasional
- LBH Netherlands Bv - Netherlands
- Eastern Coal Council - USA
- TNB Fuel Sdn Bhd - Malaysia
- The State Trading Corporation of India Ltd
- Indo Tambangraya Megah - Indonesia
- Madhucon Powers Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Sarangani Energy Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Jaiprakash Power Ventures ltd
- Australian Coal Association
- Renaissance Capital - South Africa
- Latin American Coal - Colombia
- Makarim & Taira - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Rashtriya Ispat Nigam Limited - India
- Chamber of Mines of South Africa
- Karaikal Port Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- PTC India Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Central Java Power - Indonesia
- Sakthi Sugars Limited - India
- Electricity Generating Authority of Thailand
- Mintek Dendrill Indonesia
- Miang Besar Coal Terminal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Timah Investasi Mineral - Indoneisa
- Maharashtra Electricity Regulatory Commission - India
- Posco Energy - South Korea
- Georgia Ports Authority, United States
- India Bulls Power Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Malabar Cements Ltd - India
- Oldendorff Carriers - Singapore
- Bukit Makmur.PT - Indonesia
- CIMB Investment Bank - Malaysia
- Ministry of Mines - Canada
- CNBM International Corporation - China
- Eastern Energy - Thailand
- Bayan Resources Tbk. - Indonesia
- Romanian Commodities Exchange
- Riau Bara Harum - Indonesia
- Bhoruka Overseas - Indonesia
- Pendopo Energi Batubara - Indonesia
- Anglo American - United Kingdom
- Kalimantan Lumbung Energi - Indonesia
- Dalmia Cement Bharat India
- Orica Mining Services - Indonesia
- ASAPP Information Group - India
- Cigading International Bulk Terminal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mjunction Services Limited - India
- London Commodity Brokers - England
- Electricity Authority, New Zealand
- The Treasury - Australian Government
- Planning Commission, India
- Toyota Tsusho Corporation, Japan
- Essar Steel Hazira Ltd - India
- Kumho Petrochemical, South Korea
- Port Waratah Coal Services - Australia
- Ministry of Finance - Indonesia
- Metalloyd Limited - United Kingdom
- Sindya Power Generating Company Private Ltd
- Kobexindo Tractors - Indoneisa
- Banpu Public Company Limited - Thailand
- Semirara Mining Corp, Philippines
- Global Green Power PLC Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Siam City Cement - Thailand
- Bharathi Cement Corporation - India
- Power Finance Corporation Ltd., India
- GMR Energy Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Savvy Resources Ltd - HongKong
- OPG Power Generation Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Vizag Seaport Private Limited - India
- Energy Link Ltd, New Zealand
- PowerSource Philippines DevCo
- Trasteel International SA, Italy
- Rio Tinto Coal - Australia
- Central Electricity Authority - India
- White Energy Company Limited
- Mercuria Energy - Indonesia
- Gujarat Sidhee Cement - India
- Africa Commodities Group - South Africa
- Directorate Of Revenue Intelligence - India
- Kideco Jaya Agung - Indonesia
- MS Steel International - UAE
- Ministry of Transport, Egypt
- Straits Asia Resources Limited - Singapore
- Coal and Oil Company - UAE
- Kaltim Prima Coal - Indonesia
- Lanco Infratech Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Cement Manufacturers Association - India
- Agrawal Coal Company - India
- Sree Jayajothi Cements Limited - India
- Edison Trading Spa - Italy
- Meenaskhi Energy Private Limited - India
- Global Coal Blending Company Limited - Australia
- Directorate General of MIneral and Coal - Indonesia
- Bangladesh Power Developement Board
- SMC Global Power, Philippines
- Siam City Cement PLC, Thailand
- Ambuja Cements Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Iligan Light & Power Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- San Jose City I Power Corp, Philippines
- Bukit Baiduri Energy - Indonesia
- Parliament of New Zealand
- Grasim Industreis Ltd - India
- GVK Power & Infra Limited - India
- Indian Energy Exchange, India
- Coastal Gujarat Power Limited - India
- Commonwealth Bank - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- GAC Shipping (India) Pvt Ltd
- Standard Chartered Bank - UAE
- Formosa Plastics Group - Taiwan
- Carbofer General Trading SA - India
- Indogreen Group - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Bank of Tokyo Mitsubishi UFJ Ltd
- VISA Power Limited - India
- Sinarmas Energy and Mining - Indonesia
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