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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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Sunday, 27 May 12
THE FREIGHT MARKET FROM INDONESIA TO INDIA WAS WEAK - VISTAAR
COALspot.com - The BDI continued to fall for the fourth straight week and the BDI fell by 9.38 pct this week closing at 1,034 points.
The Cape Si ...
Sunday, 27 May 12
INDONESIAN SUB-BITUMINOUS COAL SWAPS HEADING TO SOUTH DIRECTION
COALspot.com - Indonesian sub-bituminous coal swaps and CFR South China coal contracts for July deliveries have dropped this week by 5.43 percent an ...
Saturday, 26 May 12
DRY BULK SHIP OWNERS LOOKING TO CUT BACK ON TONNAGE SUPPLY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The oversupply of dry bulk carriers has been the most prominent problem in the market today, pushing down rates and ‘strangling’ profita ...
Thursday, 24 May 12
DRY BULK MARKET RETREATS ON LACK OF CHINA DEMAND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market retreated yesterday on the back of lower Chinese demand for commodities such as coal and iron ore, typically hauled by dry bulk ...
Tuesday, 22 May 12
NEW ONE-YEAR TIME CHARTERS FOR TWO VESSELS OF EXCEL MARITIME CARRIERS LTD.
Excel Maritime Carriers Ltd. (NYSE: EXM), an owner and operator of dry bulk carriers and an international provider of worldwide seaborne transportat ...
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- Cigading International Bulk Terminal - Indonesia
- PNOC Exploration Corporation - Philippines
- Rio Tinto Coal - Australia
- Larsen & Toubro Limited - India
- GVK Power & Infra Limited - India
- Karaikal Port Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Goldman Sachs - Singapore
- Alfred C Toepfer International GmbH - Germany
- Gujarat Mineral Development Corp Ltd - India
- Sojitz Corporation - Japan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Savvy Resources Ltd - HongKong
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Electricity Regulatory Commission - India
- New Zealand Coal & Carbon
- PowerSource Philippines DevCo
- Manunggal Multi Energi - Indonesia
- Ind-Barath Power Infra Limited - India
- Toyota Tsusho Corporation, Japan
- Indian Energy Exchange, India
- Mjunction Services Limited - India
- Sindya Power Generating Company Private Ltd
- Straits Asia Resources Limited - Singapore
- Krishnapatnam Port Company Ltd. - India
- Sical Logistics Limited - India
- Globalindo Alam Lestari - Indonesia
- Petron Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- India Bulls Power Limited - India
- Tata Chemicals Ltd - India
- Videocon Industries ltd - India
- Global Green Power PLC Corporation, Philippines
- Chamber of Mines of South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indian Oil Corporation Limited
- Sakthi Sugars Limited - India
- Commonwealth Bank - Australia
- Siam City Cement PLC, Thailand
- Essar Steel Hazira Ltd - India
- Kartika Selabumi Mining - Indonesia
- Energy Link Ltd, New Zealand
- Romanian Commodities Exchange
- Parliament of New Zealand
- London Commodity Brokers - England
- Asmin Koalindo Tuhup - Indonesia
- Thai Mozambique Logistica
- Ministry of Mines - Canada
- McConnell Dowell - Australia
- SN Aboitiz Power Inc, Philippines
- Mintek Dendrill Indonesia
- Kobexindo Tractors - Indoneisa
- Lanco Infratech Ltd - India
- Global Business Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- Australian Commodity Traders Exchange
- Binh Thuan Hamico - Vietnam
- Kideco Jaya Agung - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Minerals Council of Australia
- Orica Mining Services - Indonesia
- Africa Commodities Group - South Africa
- Sree Jayajothi Cements Limited - India
- PTC India Limited - India
- Timah Investasi Mineral - Indoneisa
- San Jose City I Power Corp, Philippines
- GMR Energy Limited - India
- Deloitte Consulting - India
- Kumho Petrochemical, South Korea
- Directorate General of MIneral and Coal - Indonesia
- South Luzon Thermal Energy Corporation
- Baramulti Group, Indonesia
- Madhucon Powers Ltd - India
- Marubeni Corporation - India
- AsiaOL BioFuels Corp., Philippines
- Carbofer General Trading SA - India
- Vizag Seaport Private Limited - India
- CIMB Investment Bank - Malaysia
- VISA Power Limited - India
- Power Finance Corporation Ltd., India
- LBH Netherlands Bv - Netherlands
- Bangladesh Power Developement Board
- Simpson Spence & Young - Indonesia
- Siam City Cement - Thailand
- Electricity Generating Authority of Thailand
- Central Java Power - Indonesia
- Standard Chartered Bank - UAE
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Oldendorff Carriers - Singapore
- The Treasury - Australian Government
- Ministry of Finance - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Makarim & Taira - Indonesia
- Medco Energi Mining Internasional
- IHS Mccloskey Coal Group - USA
- Gujarat Sidhee Cement - India
- Central Electricity Authority - India
- Vedanta Resources Plc - India
- Electricity Authority, New Zealand
- Indika Energy - Indonesia
- Orica Australia Pty. Ltd.
- Altura Mining Limited, Indonesia
- Indonesian Coal Mining Association
- Economic Council, Georgia
- Meenaskhi Energy Private Limited - India
- Eastern Coal Council - USA
- ICICI Bank Limited - India
- Iligan Light & Power Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Jaiprakash Power Ventures ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Maheswari Brothers Coal Limited - India
- Antam Resourcindo - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Bhoruka Overseas - Indonesia
- Port Waratah Coal Services - Australia
- Meralco Power Generation, Philippines
- Wood Mackenzie - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Latin American Coal - Colombia
- Aditya Birla Group - India
- Coalindo Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Miang Besar Coal Terminal - Indonesia
- Planning Commission, India
- Australian Coal Association
- Coal and Oil Company - UAE
- Thiess Contractors Indonesia
- Formosa Plastics Group - Taiwan
- Georgia Ports Authority, United States
- Trasteel International SA, Italy
- Intertek Mineral Services - Indonesia
- Bulk Trading Sa - Switzerland
- Parry Sugars Refinery, India
- Sarangani Energy Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Kapuas Tunggal Persada - Indonesia
- Dalmia Cement Bharat India
- Malabar Cements Ltd - India
- Grasim Industreis Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Bharathi Cement Corporation - India
- Posco Energy - South Korea
- The University of Queensland
- Bukit Asam (Persero) Tbk - Indonesia
- Interocean Group of Companies - India
- SMG Consultants - Indonesia
- Mercuria Energy - Indonesia
- Heidelberg Cement - Germany
- Singapore Mercantile Exchange
- Bhatia International Limited - India
- Kaltim Prima Coal - Indonesia
- Jindal Steel & Power Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Global Coal Blending Company Limited - Australia
- Tamil Nadu electricity Board
- TNB Fuel Sdn Bhd - Malaysia
- Indogreen Group - Indonesia
- Banpu Public Company Limited - Thailand
- PetroVietnam Power Coal Import and Supply Company
- Edison Trading Spa - Italy
- Renaissance Capital - South Africa
- Sinarmas Energy and Mining - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Bhushan Steel Limited - India
- Agrawal Coal Company - India
- Uttam Galva Steels Limited - India
- European Bulk Services B.V. - Netherlands
- Borneo Indobara - Indonesia
- Xindia Steels Limited - India
- Coastal Gujarat Power Limited - India
- Kepco SPC Power Corporation, Philippines
- Attock Cement Pakistan Limited
- CNBM International Corporation - China
- Price Waterhouse Coopers - Russia
- Mercator Lines Limited - India
- GAC Shipping (India) Pvt Ltd
- Ambuja Cements Ltd - India
- White Energy Company Limited
- SMC Global Power, Philippines
- Wilmar Investment Holdings
- Ministry of Transport, Egypt
- Eastern Energy - Thailand
- International Coal Ventures Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Semirara Mining Corp, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- ASAPP Information Group - India
- Leighton Contractors Pty Ltd - Australia
- Star Paper Mills Limited - India
- IEA Clean Coal Centre - UK
- MS Steel International - UAE
- Bahari Cakrawala Sebuku - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Directorate Of Revenue Intelligence - India
- Chettinad Cement Corporation Ltd - India
- Anglo American - United Kingdom
- The State Trading Corporation of India Ltd
- Bukit Baiduri Energy - Indonesia
- Merrill Lynch Commodities Europe
- Cement Manufacturers Association - India
- Barasentosa Lestari - Indonesia
- Energy Development Corp, Philippines
- Pendopo Energi Batubara - Indonesia
- Independent Power Producers Association of India
- Aboitiz Power Corporation - Philippines
- Kalimantan Lumbung Energi - Indonesia
- Salva Resources Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- TeaM Sual Corporation - Philippines
- Bukit Makmur.PT - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
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