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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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Monday, 07 May 12
INDONESIAN HBA FALL AGAIN IN MAY 2012
COALspot.com - Indonesian HBA fall again to lowest level since January 2011 in May 2012. The monthly coal reference price for coal sales in Ma ...
Sunday, 06 May 12
INDONESIAN SUB-BITUMINOUS COAL & CFR SOUTH CHINA SWAPS SLIGHTLY DROP THIS WEEK
COALspot.com - Indonesian sub-bituminous coal swaps and CFR South China coal contracts for June deliveries slightly dropped this week.
According ...
Sunday, 06 May 12
S7 & S8 ROUTES LIKELY TO BE FIRM NEXT WEEK VISTAAR SINGAPORE
COALspot.com - The BDI remained flat this week and was up just by 1 point closing at 1,157 points.
The cape size index was up by 5.14 pct closing ...
Sunday, 06 May 12
EXPORT DUTY ON MINERAL FINALLY TO BECOME EFFECTIVE NEXT WEEK
COALspot.com - Mineral ore exporters of Indonesia ( only IUP holders) are required to obtain recommendation letter from the energy and mineral ...
Friday, 04 May 12
DEMOLITION KEY FOR DRY BULK MARKET RECOVERY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The overflow of newbuilding vessels which “spilled over” into 2012 from 2011 brought the dry bulk market to a near collapse level at the ...
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- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Rio Tinto Coal - Australia
- Port Waratah Coal Services - Australia
- The University of Queensland
- Gujarat Mineral Development Corp Ltd - India
- Sojitz Corporation - Japan
- Deloitte Consulting - India
- ICICI Bank Limited - India
- Alfred C Toepfer International GmbH - Germany
- Kepco SPC Power Corporation, Philippines
- Coalindo Energy - Indonesia
- IEA Clean Coal Centre - UK
- Bulk Trading Sa - Switzerland
- Heidelberg Cement - Germany
- Indian Energy Exchange, India
- Jindal Steel & Power Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Ministry of Finance - Indonesia
- Gujarat Sidhee Cement - India
- Agrawal Coal Company - India
- Sinarmas Energy and Mining - Indonesia
- Australian Commodity Traders Exchange
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Metalloyd Limited - United Kingdom
- Planning Commission, India
- Sree Jayajothi Cements Limited - India
- Ceylon Electricity Board - Sri Lanka
- Kalimantan Lumbung Energi - Indonesia
- Directorate Of Revenue Intelligence - India
- Trasteel International SA, Italy
- Riau Bara Harum - Indonesia
- European Bulk Services B.V. - Netherlands
- Directorate General of MIneral and Coal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Essar Steel Hazira Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Globalindo Alam Lestari - Indonesia
- Attock Cement Pakistan Limited
- Mercator Lines Limited - India
- Vedanta Resources Plc - India
- The State Trading Corporation of India Ltd
- SN Aboitiz Power Inc, Philippines
- PNOC Exploration Corporation - Philippines
- Gujarat Electricity Regulatory Commission - India
- SMG Consultants - Indonesia
- International Coal Ventures Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- New Zealand Coal & Carbon
- Ministry of Mines - Canada
- Tata Chemicals Ltd - India
- India Bulls Power Limited - India
- LBH Netherlands Bv - Netherlands
- Aditya Birla Group - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Eastern Coal Council - USA
- Merrill Lynch Commodities Europe
- Madhucon Powers Ltd - India
- Antam Resourcindo - Indonesia
- Eastern Energy - Thailand
- Cigading International Bulk Terminal - Indonesia
- Aboitiz Power Corporation - Philippines
- Semirara Mining and Power Corporation, Philippines
- Semirara Mining Corp, Philippines
- Borneo Indobara - Indonesia
- Ind-Barath Power Infra Limited - India
- Singapore Mercantile Exchange
- GAC Shipping (India) Pvt Ltd
- Kapuas Tunggal Persada - Indonesia
- Savvy Resources Ltd - HongKong
- Leighton Contractors Pty Ltd - Australia
- VISA Power Limited - India
- Kaltim Prima Coal - Indonesia
- Petron Corporation, Philippines
- Bangladesh Power Developement Board
- Pendopo Energi Batubara - Indonesia
- TeaM Sual Corporation - Philippines
- Ambuja Cements Ltd - India
- Manunggal Multi Energi - Indonesia
- Anglo American - United Kingdom
- Pipit Mutiara Jaya. PT, Indonesia
- Africa Commodities Group - South Africa
- Ministry of Transport, Egypt
- Romanian Commodities Exchange
- Minerals Council of Australia
- PowerSource Philippines DevCo
- TNB Fuel Sdn Bhd - Malaysia
- Bhoruka Overseas - Indonesia
- Makarim & Taira - Indonesia
- Baramulti Group, Indonesia
- White Energy Company Limited
- GMR Energy Limited - India
- Barasentosa Lestari - Indonesia
- Oldendorff Carriers - Singapore
- ASAPP Information Group - India
- Miang Besar Coal Terminal - Indonesia
- Uttam Galva Steels Limited - India
- Sarangani Energy Corporation, Philippines
- Indonesian Coal Mining Association
- Indogreen Group - Indonesia
- Goldman Sachs - Singapore
- AsiaOL BioFuels Corp., Philippines
- Toyota Tsusho Corporation, Japan
- Rashtriya Ispat Nigam Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Sakthi Sugars Limited - India
- Bukit Makmur.PT - Indonesia
- Wood Mackenzie - Singapore
- Energy Link Ltd, New Zealand
- Independent Power Producers Association of India
- Price Waterhouse Coopers - Russia
- Billiton Holdings Pty Ltd - Australia
- Standard Chartered Bank - UAE
- Vijayanagar Sugar Pvt Ltd - India
- PTC India Limited - India
- Siam City Cement - Thailand
- Iligan Light & Power Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Star Paper Mills Limited - India
- Siam City Cement PLC, Thailand
- Asmin Koalindo Tuhup - Indonesia
- Mintek Dendrill Indonesia
- Videocon Industries ltd - India
- Commonwealth Bank - Australia
- GVK Power & Infra Limited - India
- Kumho Petrochemical, South Korea
- Coastal Gujarat Power Limited - India
- Dalmia Cement Bharat India
- Maharashtra Electricity Regulatory Commission - India
- Chettinad Cement Corporation Ltd - India
- Edison Trading Spa - Italy
- The Treasury - Australian Government
- MS Steel International - UAE
- Carbofer General Trading SA - India
- Karaikal Port Pvt Ltd - India
- Medco Energi Mining Internasional
- Larsen & Toubro Limited - India
- Lanco Infratech Ltd - India
- Posco Energy - South Korea
- Malabar Cements Ltd - India
- Power Finance Corporation Ltd., India
- Indo Tambangraya Megah - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Electricity Authority, New Zealand
- CNBM International Corporation - China
- San Jose City I Power Corp, Philippines
- Banpu Public Company Limited - Thailand
- Grasim Industreis Ltd - India
- Meralco Power Generation, Philippines
- CIMB Investment Bank - Malaysia
- Economic Council, Georgia
- Kobexindo Tractors - Indoneisa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Central Java Power - Indonesia
- Latin American Coal - Colombia
- Samtan Co., Ltd - South Korea
- Coal and Oil Company - UAE
- Parliament of New Zealand
- Kideco Jaya Agung - Indonesia
- Orica Australia Pty. Ltd.
- Chamber of Mines of South Africa
- Intertek Mineral Services - Indonesia
- IHS Mccloskey Coal Group - USA
- Indian Oil Corporation Limited
- Maheswari Brothers Coal Limited - India
- Cement Manufacturers Association - India
- Holcim Trading Pte Ltd - Singapore
- Jaiprakash Power Ventures ltd
- Sindya Power Generating Company Private Ltd
- Orica Mining Services - Indonesia
- Therma Luzon, Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Timah Investasi Mineral - Indoneisa
- Georgia Ports Authority, United States
- Global Green Power PLC Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Altura Mining Limited, Indonesia
- Central Electricity Authority - India
- Interocean Group of Companies - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bharathi Cement Corporation - India
- Global Business Power Corporation, Philippines
- Thiess Contractors Indonesia
- Formosa Plastics Group - Taiwan
- Renaissance Capital - South Africa
- McConnell Dowell - Australia
- Energy Development Corp, Philippines
- Krishnapatnam Port Company Ltd. - India
- Salva Resources Pvt Ltd - India
- London Commodity Brokers - England
- Bukit Baiduri Energy - Indonesia
- Marubeni Corporation - India
- PetroVietnam Power Coal Import and Supply Company
- Petrochimia International Co. Ltd.- Taiwan
- Tamil Nadu electricity Board
- Sical Logistics Limited - India
- Global Coal Blending Company Limited - Australia
- Vizag Seaport Private Limited - India
- Electricity Generating Authority of Thailand
- Thai Mozambique Logistica
- SMC Global Power, Philippines
- Mercuria Energy - Indonesia
- Bhushan Steel Limited - India
- Indika Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Mjunction Services Limited - India
- Wilmar Investment Holdings
- Xindia Steels Limited - India
- Parry Sugars Refinery, India
- Australian Coal Association
- Simpson Spence & Young - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Bhatia International Limited - India
- Bayan Resources Tbk. - Indonesia
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