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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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Wednesday, 25 April 12
CHINA IMPORTS 9.76 MMT AND INDIA IMPORTS 7.03 MMT OF INDONESIAN COAL LAST MONTH
COALspot.com: Indonesia, the world largest coal exporter, shipped 30.64* million tons of coal in March 2012, compared to 27.12* million tons i ...
Monday, 23 April 12
ALTURA ENTERS INTO AGREEMENT TO ACQUIRE 2 COAL PROJECTS IN SOUTH KALIMANTAN
COALspot.com - Altura Mining Limited (ASX: AJM) has announced that it has entered into an agreement to acquire a further two (2) Mining Permits (IUP ...
Sunday, 22 April 12
THE FREIGHT MARKET EXPECTED TO REMAIN FIRM NEXT WEEK - VISTAAR
COALspot.com - The BDI has broken the psychological barrier of 1000 points and closed at 1067 points.
The cape index was slightly down by 2.48 pc ...
Saturday, 21 April 12
INDONESIAN SUB-BITUMINOUS COAL SWAPS DROP 2.61 PERCENT THIS WEEK
COALspot.com - Indonesian sub-bituminous coal swaps fell for a fifth day, according to DSP of SGX AsiaClear OTC Coal Swaps.
CFR South China Coal ...
Friday, 20 April 12
PANAMAXES LEAD DRY BULK MARKET TO HIGHER GROUND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
A rebound of demand for smaller dry bulk carriers has led the industry’s benchmark, the BDI (Baltic Dry Index) above the 1,000-point mark for ...
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- Vijayanagar Sugar Pvt Ltd - India
- Videocon Industries ltd - India
- Bukit Baiduri Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Minerals Council of Australia
- Chamber of Mines of South Africa
- Directorate General of MIneral and Coal - Indonesia
- Karaikal Port Pvt Ltd - India
- MS Steel International - UAE
- IHS Mccloskey Coal Group - USA
- GAC Shipping (India) Pvt Ltd
- Marubeni Corporation - India
- PTC India Limited - India
- Parry Sugars Refinery, India
- Madhucon Powers Ltd - India
- Ambuja Cements Ltd - India
- Singapore Mercantile Exchange
- Kartika Selabumi Mining - Indonesia
- SMG Consultants - Indonesia
- India Bulls Power Limited - India
- Deloitte Consulting - India
- Sakthi Sugars Limited - India
- Mintek Dendrill Indonesia
- Meralco Power Generation, Philippines
- Heidelberg Cement - Germany
- Meenaskhi Energy Private Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Timah Investasi Mineral - Indoneisa
- Medco Energi Mining Internasional
- CIMB Investment Bank - Malaysia
- Kideco Jaya Agung - Indonesia
- Central Electricity Authority - India
- Orica Australia Pty. Ltd.
- Salva Resources Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Commonwealth Bank - Australia
- Globalindo Alam Lestari - Indonesia
- Energy Development Corp, Philippines
- Altura Mining Limited, Indonesia
- Romanian Commodities Exchange
- Rashtriya Ispat Nigam Limited - India
- Electricity Generating Authority of Thailand
- Semirara Mining Corp, Philippines
- Independent Power Producers Association of India
- White Energy Company Limited
- Georgia Ports Authority, United States
- Indo Tambangraya Megah - Indonesia
- Siam City Cement PLC, Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bulk Trading Sa - Switzerland
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- TeaM Sual Corporation - Philippines
- Indian Oil Corporation Limited
- Jaiprakash Power Ventures ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bhatia International Limited - India
- Maheswari Brothers Coal Limited - India
- Ministry of Transport, Egypt
- Riau Bara Harum - Indonesia
- Australian Coal Association
- Australian Commodity Traders Exchange
- Sarangani Energy Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Coastal Gujarat Power Limited - India
- Orica Mining Services - Indonesia
- Toyota Tsusho Corporation, Japan
- PNOC Exploration Corporation - Philippines
- Bayan Resources Tbk. - Indonesia
- IEA Clean Coal Centre - UK
- Eastern Energy - Thailand
- Antam Resourcindo - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Agrawal Coal Company - India
- Economic Council, Georgia
- Aditya Birla Group - India
- Ceylon Electricity Board - Sri Lanka
- Dalmia Cement Bharat India
- Larsen & Toubro Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- CNBM International Corporation - China
- Maharashtra Electricity Regulatory Commission - India
- GMR Energy Limited - India
- Global Coal Blending Company Limited - Australia
- Bangladesh Power Developement Board
- Central Java Power - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Binh Thuan Hamico - Vietnam
- Wilmar Investment Holdings
- Lanco Infratech Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Baramulti Group, Indonesia
- Thai Mozambique Logistica
- ICICI Bank Limited - India
- Cigading International Bulk Terminal - Indonesia
- New Zealand Coal & Carbon
- Posco Energy - South Korea
- ASAPP Information Group - India
- Indika Energy - Indonesia
- Makarim & Taira - Indonesia
- SN Aboitiz Power Inc, Philippines
- Wood Mackenzie - Singapore
- LBH Netherlands Bv - Netherlands
- Bhoruka Overseas - Indonesia
- Indian Energy Exchange, India
- Vedanta Resources Plc - India
- Intertek Mineral Services - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Metalloyd Limited - United Kingdom
- Indonesian Coal Mining Association
- Sindya Power Generating Company Private Ltd
- Tamil Nadu electricity Board
- Anglo American - United Kingdom
- VISA Power Limited - India
- Simpson Spence & Young - Indonesia
- South Luzon Thermal Energy Corporation
- Sical Logistics Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Jindal Steel & Power Ltd - India
- London Commodity Brokers - England
- Petron Corporation, Philippines
- Indogreen Group - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Port Waratah Coal Services - Australia
- Miang Besar Coal Terminal - Indonesia
- Rio Tinto Coal - Australia
- Barasentosa Lestari - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Mjunction Services Limited - India
- McConnell Dowell - Australia
- Standard Chartered Bank - UAE
- Eastern Coal Council - USA
- Directorate Of Revenue Intelligence - India
- Essar Steel Hazira Ltd - India
- Interocean Group of Companies - India
- Xindia Steels Limited - India
- Ministry of Mines - Canada
- Malabar Cements Ltd - India
- Kepco SPC Power Corporation, Philippines
- Cement Manufacturers Association - India
- Ind-Barath Power Infra Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Oldendorff Carriers - Singapore
- Chettinad Cement Corporation Ltd - India
- San Jose City I Power Corp, Philippines
- Mercator Lines Limited - India
- Tata Chemicals Ltd - India
- Planning Commission, India
- Vizag Seaport Private Limited - India
- Manunggal Multi Energi - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Global Green Power PLC Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Electricity Authority, New Zealand
- Star Paper Mills Limited - India
- Bukit Makmur.PT - Indonesia
- Samtan Co., Ltd - South Korea
- Bhushan Steel Limited - India
- Siam City Cement - Thailand
- Edison Trading Spa - Italy
- Sinarmas Energy and Mining - Indonesia
- Savvy Resources Ltd - HongKong
- Thiess Contractors Indonesia
- Borneo Indobara - Indonesia
- Parliament of New Zealand
- Sojitz Corporation - Japan
- European Bulk Services B.V. - Netherlands
- Kapuas Tunggal Persada - Indonesia
- Straits Asia Resources Limited - Singapore
- Coal and Oil Company - UAE
- Goldman Sachs - Singapore
- Formosa Plastics Group - Taiwan
- Attock Cement Pakistan Limited
- Grasim Industreis Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Coalindo Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Iligan Light & Power Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Holcim Trading Pte Ltd - Singapore
- PowerSource Philippines DevCo
- Karbindo Abesyapradhi - Indoneisa
- Sree Jayajothi Cements Limited - India
- Kumho Petrochemical, South Korea
- Alfred C Toepfer International GmbH - Germany
- Gujarat Sidhee Cement - India
- The Treasury - Australian Government
- Africa Commodities Group - South Africa
- Trasteel International SA, Italy
- Banpu Public Company Limited - Thailand
- The State Trading Corporation of India Ltd
- Kobexindo Tractors - Indoneisa
- Ministry of Finance - Indonesia
- Renaissance Capital - South Africa
- Merrill Lynch Commodities Europe
- Bharathi Cement Corporation - India
- Asmin Koalindo Tuhup - Indonesia
- Pendopo Energi Batubara - Indonesia
- Latin American Coal - Colombia
- Bahari Cakrawala Sebuku - Indonesia
- Global Business Power Corporation, Philippines
- GVK Power & Infra Limited - India
- Power Finance Corporation Ltd., India
- Kaltim Prima Coal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Price Waterhouse Coopers - Russia
- SMC Global Power, Philippines
- The University of Queensland
- Mercuria Energy - Indonesia
- Carbofer General Trading SA - India
- Semirara Mining and Power Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Aboitiz Power Corporation - Philippines
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