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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, 16 June 12
INDONESIAN SUB-BITUMINOUS COAL & CFR SOUTH CHINA COAL CONTRACT SWAPS ARE UNDER PRESSURE
COALspot.com - Indonesian sub-bituminous coal swaps and CFR South China coal contracts for July deliveries seems to be under pressure this week.&nbs ...
Friday, 15 June 12
CAPESIZE - THE LEVELS THAT DID FIX ARE DOWN W-O-W LEVELS - FEARNLEYS
Handy
Another slow-moving market with rates hovering at same level as last week. US Gulf positions fixed USD 25,000 for trips to Cont/Passero and S ...
Thursday, 14 June 12
SMALLER DRY BULK CARRIERS LIKELY TO FACE MORE CHALLENGES; DEMOLITION ACTIVITY SET FOR RECORD YEAR - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
In its latest update on the dry bulk markets, BIMCO said that China is partly “failing to deliver” on raw material imports that can affe ...
Wednesday, 13 June 12
LOW COAL PRICES COULD CHANGE SUPPLY SIDE DYNAMICS - FITCH RATINGS
Fitch Ratings believes that the weakness seen in thermal coal prices in recent months should reverse once demand from major importers recovers, alth ...
Tuesday, 12 June 12
ITACHA RESOURCES BUYS SARANA MARINE - INSIDER STORIES
Insider Stories reported that, coal mining company PT Itacha Resources, a joint venture between Anthoni Salim and Glenn Yusuf, announced that Itacha ...
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- Kobexindo Tractors - Indoneisa
- IEA Clean Coal Centre - UK
- Anglo American - United Kingdom
- Makarim & Taira - Indonesia
- Independent Power Producers Association of India
- Goldman Sachs - Singapore
- Semirara Mining Corp, Philippines
- Pendopo Energi Batubara - Indonesia
- Romanian Commodities Exchange
- The Treasury - Australian Government
- Deloitte Consulting - India
- Siam City Cement PLC, Thailand
- Globalindo Alam Lestari - Indonesia
- SMC Global Power, Philippines
- Eastern Energy - Thailand
- Semirara Mining and Power Corporation, Philippines
- Antam Resourcindo - Indonesia
- Rio Tinto Coal - Australia
- Meralco Power Generation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Sree Jayajothi Cements Limited - India
- AsiaOL BioFuels Corp., Philippines
- India Bulls Power Limited - India
- Bayan Resources Tbk. - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Africa Commodities Group - South Africa
- Samtan Co., Ltd - South Korea
- Karaikal Port Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Riau Bara Harum - Indonesia
- Bharathi Cement Corporation - India
- Malabar Cements Ltd - India
- Bhatia International Limited - India
- Xindia Steels Limited - India
- Therma Luzon, Inc, Philippines
- Manunggal Multi Energi - Indonesia
- New Zealand Coal & Carbon
- Rashtriya Ispat Nigam Limited - India
- Renaissance Capital - South Africa
- Kumho Petrochemical, South Korea
- International Coal Ventures Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Global Green Power PLC Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Commonwealth Bank - Australia
- Trasteel International SA, Italy
- Chamber of Mines of South Africa
- Indo Tambangraya Megah - Indonesia
- Formosa Plastics Group - Taiwan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Medco Energi Mining Internasional
- ASAPP Information Group - India
- PNOC Exploration Corporation - Philippines
- Star Paper Mills Limited - India
- Orica Mining Services - Indonesia
- Bukit Baiduri Energy - Indonesia
- Oldendorff Carriers - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Bhoruka Overseas - Indonesia
- PowerSource Philippines DevCo
- White Energy Company Limited
- Wood Mackenzie - Singapore
- Mercuria Energy - Indonesia
- VISA Power Limited - India
- MS Steel International - UAE
- Videocon Industries ltd - India
- Carbofer General Trading SA - India
- Maheswari Brothers Coal Limited - India
- Barasentosa Lestari - Indonesia
- Australian Commodity Traders Exchange
- GAC Shipping (India) Pvt Ltd
- Kideco Jaya Agung - Indonesia
- Central Java Power - Indonesia
- Metalloyd Limited - United Kingdom
- San Jose City I Power Corp, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- IHS Mccloskey Coal Group - USA
- Marubeni Corporation - India
- Asmin Koalindo Tuhup - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- GMR Energy Limited - India
- Indika Energy - Indonesia
- TeaM Sual Corporation - Philippines
- Bangladesh Power Developement Board
- Economic Council, Georgia
- Standard Chartered Bank - UAE
- LBH Netherlands Bv - Netherlands
- Vedanta Resources Plc - India
- Bulk Trading Sa - Switzerland
- SMG Consultants - Indonesia
- Ministry of Finance - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Mjunction Services Limited - India
- Ind-Barath Power Infra Limited - India
- Singapore Mercantile Exchange
- ICICI Bank Limited - India
- Parliament of New Zealand
- OPG Power Generation Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Iligan Light & Power Inc, Philippines
- Wilmar Investment Holdings
- Merrill Lynch Commodities Europe
- Coalindo Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Coal and Oil Company - UAE
- Miang Besar Coal Terminal - Indonesia
- The University of Queensland
- Aboitiz Power Corporation - Philippines
- Altura Mining Limited, Indonesia
- Edison Trading Spa - Italy
- Alfred C Toepfer International GmbH - Germany
- Indogreen Group - Indonesia
- Toyota Tsusho Corporation, Japan
- Energy Development Corp, Philippines
- Baramulti Group, Indonesia
- Ambuja Cements Ltd - India
- Savvy Resources Ltd - HongKong
- Tata Chemicals Ltd - India
- Orica Australia Pty. Ltd.
- Ceylon Electricity Board - Sri Lanka
- Vizag Seaport Private Limited - India
- CIMB Investment Bank - Malaysia
- Central Electricity Authority - India
- Eastern Coal Council - USA
- Global Business Power Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Ministry of Mines - Canada
- Borneo Indobara - Indonesia
- Intertek Mineral Services - Indonesia
- Uttam Galva Steels Limited - India
- SN Aboitiz Power Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Madhucon Powers Ltd - India
- Sarangani Energy Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Grasim Industreis Ltd - India
- Essar Steel Hazira Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Power Finance Corporation Ltd., India
- Posco Energy - South Korea
- Indonesian Coal Mining Association
- Electricity Generating Authority of Thailand
- Meenaskhi Energy Private Limited - India
- Indian Oil Corporation Limited
- Siam City Cement - Thailand
- Directorate Of Revenue Intelligence - India
- Tamil Nadu electricity Board
- Coastal Gujarat Power Limited - India
- Australian Coal Association
- Mintek Dendrill Indonesia
- Jaiprakash Power Ventures ltd
- Energy Link Ltd, New Zealand
- Minerals Council of Australia
- Planning Commission, India
- Cement Manufacturers Association - India
- Thiess Contractors Indonesia
- Simpson Spence & Young - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Sical Logistics Limited - India
- Port Waratah Coal Services - Australia
- PetroVietnam Power Coal Import and Supply Company
- Kohat Cement Company Ltd. - Pakistan
- European Bulk Services B.V. - Netherlands
- Interocean Group of Companies - India
- Vijayanagar Sugar Pvt Ltd - India
- Indian Energy Exchange, India
- Kepco SPC Power Corporation, Philippines
- Agrawal Coal Company - India
- Kartika Selabumi Mining - Indonesia
- Sakthi Sugars Limited - India
- Dalmia Cement Bharat India
- Latin American Coal - Colombia
- PTC India Limited - India
- The State Trading Corporation of India Ltd
- Cigading International Bulk Terminal - Indonesia
- Gujarat Sidhee Cement - India
- Chettinad Cement Corporation Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Electricity Authority, New Zealand
- Banpu Public Company Limited - Thailand
- Sindya Power Generating Company Private Ltd
- Global Coal Blending Company Limited - Australia
- Larsen & Toubro Limited - India
- CNBM International Corporation - China
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- London Commodity Brokers - England
- Attock Cement Pakistan Limited
- Kaltim Prima Coal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Aditya Birla Group - India
- Ministry of Transport, Egypt
- Gujarat Mineral Development Corp Ltd - India
- Salva Resources Pvt Ltd - India
- Bhushan Steel Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Sojitz Corporation - Japan
- Krishnapatnam Port Company Ltd. - India
- Parry Sugars Refinery, India
- Straits Asia Resources Limited - Singapore
- Heidelberg Cement - Germany
- Petron Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Thai Mozambique Logistica
- Holcim Trading Pte Ltd - Singapore
- GVK Power & Infra Limited - India
- Kapuas Tunggal Persada - Indonesia
- Georgia Ports Authority, United States
- Bahari Cakrawala Sebuku - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- McConnell Dowell - Australia
- Mercator Lines Limited - India
- Lanco Infratech Ltd - India
- Jindal Steel & Power Ltd - India
- Price Waterhouse Coopers - Russia
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