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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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Thursday, 26 April 12
TAIPOWER TO BUY 1.15 MILLION TONS OF 5000 GAR COAL
COALspot.com - Taiwan Power Company intends to procure 1.125million tons of sub-bituminous coal for Taipower thermal power plant through open tender ...
Thursday, 26 April 12
TAIPOWER TO BUY 375,000 MT OF 4800 GAR COAL
COALspot.com - Taiwan Power Company intends to procure 375,000 metric tons of low sulfur sub-bituminous coal for Taipower thermal power plant ...
Thursday, 26 April 12
ADK SHIPPED 28,000 TONNES OF COAL THIS MONTH
COALspot.com - Orpheus Energy (ASX:OEG) has announced that four coal barges carrying a total of approximately 28,000 tonnes of ADK (Alam Duta K ...
Thursday, 26 April 12
DRY BULK CARRIERS RENTER FLEET AFTER IDLING, ON MARKETS RECOVERY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market seems to be back on track, not only solidifying the gains of the past couple of weeks, but also racing to new heights, recuperra ...
Thursday, 26 April 12
PANAMAXES AGAIN EARN MORE THAN CAPESIZES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The latest surge of demand for Panamaxes has led the dry bulk market to new higher ground on Monday, with the Baltic Dry Index (BDI) reaching 1,090 ...
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- Vijayanagar Sugar Pvt Ltd - India
- GMR Energy Limited - India
- Samtan Co., Ltd - South Korea
- Kohat Cement Company Ltd. - Pakistan
- Larsen & Toubro Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Economic Council, Georgia
- Sakthi Sugars Limited - India
- Standard Chartered Bank - UAE
- Mjunction Services Limited - India
- Marubeni Corporation - India
- Semirara Mining and Power Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Vizag Seaport Private Limited - India
- Eastern Energy - Thailand
- Straits Asia Resources Limited - Singapore
- Bhoruka Overseas - Indonesia
- San Jose City I Power Corp, Philippines
- Bayan Resources Tbk. - Indonesia
- Attock Cement Pakistan Limited
- Independent Power Producers Association of India
- Orica Mining Services - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Grasim Industreis Ltd - India
- Power Finance Corporation Ltd., India
- Simpson Spence & Young - Indonesia
- Binh Thuan Hamico - Vietnam
- Sinarmas Energy and Mining - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Medco Energi Mining Internasional
- Bank of Tokyo Mitsubishi UFJ Ltd
- McConnell Dowell - Australia
- Gujarat Electricity Regulatory Commission - India
- GVK Power & Infra Limited - India
- Renaissance Capital - South Africa
- Sarangani Energy Corporation, Philippines
- Wood Mackenzie - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- White Energy Company Limited
- Interocean Group of Companies - India
- Leighton Contractors Pty Ltd - Australia
- Ambuja Cements Ltd - India
- CNBM International Corporation - China
- Sree Jayajothi Cements Limited - India
- Cigading International Bulk Terminal - Indonesia
- Semirara Mining Corp, Philippines
- Altura Mining Limited, Indonesia
- Bulk Trading Sa - Switzerland
- Thai Mozambique Logistica
- LBH Netherlands Bv - Netherlands
- Timah Investasi Mineral - Indoneisa
- Coastal Gujarat Power Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bukit Baiduri Energy - Indonesia
- Lanco Infratech Ltd - India
- Siam City Cement - Thailand
- Energy Development Corp, Philippines
- Rashtriya Ispat Nigam Limited - India
- Africa Commodities Group - South Africa
- International Coal Ventures Pvt Ltd - India
- Ministry of Finance - Indonesia
- Global Business Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Banpu Public Company Limited - Thailand
- London Commodity Brokers - England
- Maheswari Brothers Coal Limited - India
- Jaiprakash Power Ventures ltd
- Salva Resources Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Wilmar Investment Holdings
- Formosa Plastics Group - Taiwan
- Kalimantan Lumbung Energi - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- The University of Queensland
- TNB Fuel Sdn Bhd - Malaysia
- GN Power Mariveles Coal Plant, Philippines
- Port Waratah Coal Services - Australia
- Parry Sugars Refinery, India
- VISA Power Limited - India
- Carbofer General Trading SA - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Australian Commodity Traders Exchange
- GAC Shipping (India) Pvt Ltd
- Energy Link Ltd, New Zealand
- Essar Steel Hazira Ltd - India
- Uttam Galva Steels Limited - India
- Globalindo Alam Lestari - Indonesia
- PNOC Exploration Corporation - Philippines
- Star Paper Mills Limited - India
- India Bulls Power Limited - India
- Indika Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Merrill Lynch Commodities Europe
- Heidelberg Cement - Germany
- ASAPP Information Group - India
- Mercuria Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Coalindo Energy - Indonesia
- Planning Commission, India
- Metalloyd Limited - United Kingdom
- Kideco Jaya Agung - Indonesia
- Oldendorff Carriers - Singapore
- European Bulk Services B.V. - Netherlands
- Bhushan Steel Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Central Electricity Authority - India
- Petron Corporation, Philippines
- Makarim & Taira - Indonesia
- Manunggal Multi Energi - Indonesia
- Baramulti Group, Indonesia
- CIMB Investment Bank - Malaysia
- Posco Energy - South Korea
- Vedanta Resources Plc - India
- PetroVietnam Power Coal Import and Supply Company
- ICICI Bank Limited - India
- Coal and Oil Company - UAE
- Savvy Resources Ltd - HongKong
- Alfred C Toepfer International GmbH - Germany
- Sical Logistics Limited - India
- Indogreen Group - Indonesia
- IHS Mccloskey Coal Group - USA
- Meralco Power Generation, Philippines
- Bhatia International Limited - India
- Price Waterhouse Coopers - Russia
- Barasentosa Lestari - Indonesia
- Videocon Industries ltd - India
- Siam City Cement PLC, Thailand
- Romanian Commodities Exchange
- Agrawal Coal Company - India
- PowerSource Philippines DevCo
- Thiess Contractors Indonesia
- IEA Clean Coal Centre - UK
- Indian Energy Exchange, India
- Sindya Power Generating Company Private Ltd
- Singapore Mercantile Exchange
- Gujarat Mineral Development Corp Ltd - India
- Ministry of Mines - Canada
- Goldman Sachs - Singapore
- Australian Coal Association
- Electricity Generating Authority of Thailand
- Borneo Indobara - Indonesia
- Bharathi Cement Corporation - India
- Directorate Of Revenue Intelligence - India
- Cement Manufacturers Association - India
- Commonwealth Bank - Australia
- Minerals Council of Australia
- Karbindo Abesyapradhi - Indoneisa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- New Zealand Coal & Carbon
- Malabar Cements Ltd - India
- Rio Tinto Coal - Australia
- Tamil Nadu electricity Board
- Antam Resourcindo - Indonesia
- Latin American Coal - Colombia
- Edison Trading Spa - Italy
- Anglo American - United Kingdom
- TeaM Sual Corporation - Philippines
- Kumho Petrochemical, South Korea
- Indonesian Coal Mining Association
- Georgia Ports Authority, United States
- Kobexindo Tractors - Indoneisa
- Miang Besar Coal Terminal - Indonesia
- Dalmia Cement Bharat India
- Orica Australia Pty. Ltd.
- Kaltim Prima Coal - Indonesia
- Mintek Dendrill Indonesia
- Global Green Power PLC Corporation, Philippines
- Electricity Authority, New Zealand
- Indian Oil Corporation Limited
- SMC Global Power, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Trasteel International SA, Italy
- Ministry of Transport, Egypt
- Intertek Mineral Services - Indonesia
- Kepco SPC Power Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Xindia Steels Limited - India
- Kapuas Tunggal Persada - Indonesia
- Karaikal Port Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Ind-Barath Power Infra Limited - India
- Riau Bara Harum - Indonesia
- SMG Consultants - Indonesia
- Chettinad Cement Corporation Ltd - India
- South Luzon Thermal Energy Corporation
- Offshore Bulk Terminal Pte Ltd, Singapore
- OPG Power Generation Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Eastern Coal Council - USA
- Central Java Power - Indonesia
- Aboitiz Power Corporation - Philippines
- Madhucon Powers Ltd - India
- Bangladesh Power Developement Board
- Deloitte Consulting - India
- Meenaskhi Energy Private Limited - India
- Billiton Holdings Pty Ltd - Australia
- Indo Tambangraya Megah - Indonesia
- Gujarat Sidhee Cement - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Tata Chemicals Ltd - India
- Toyota Tsusho Corporation, Japan
- Neyveli Lignite Corporation Ltd, - India
- Sojitz Corporation - Japan
- Bukit Makmur.PT - Indonesia
- Chamber of Mines of South Africa
- The Treasury - Australian Government
- Global Coal Blending Company Limited - Australia
- Pendopo Energi Batubara - Indonesia
- MS Steel International - UAE
- SN Aboitiz Power Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- PTC India Limited - India
- Parliament of New Zealand
- The State Trading Corporation of India Ltd
- Mercator Lines Limited - India
- Aditya Birla Group - India
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