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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, 05 April 12
COAL EXPORT TAX: MATTER OF CONCERN FOR INDIA - SUNIL K KUMBHAT
COALspot.com - Since the issuance of Indonesian Mining law in 2009, miners have increased their activities in exploring , ex ...
Thursday, 05 April 12
AKR COAL FIRST EXPORT SHIPMENT OF COAL SEABORNE
PT Anugrah Karya Raya (AKR Coal) subsidiary of PT AKR Corporindo Tbk., Indonesia’s leading integrated supply chain solutions provider and larg ...
Thursday, 05 April 12
DRY BULK MARKET STALLS AS TREND IS REVERSED - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has halted its month-long rally, with the BDI (Baltic Dry Index) retreating yesterday for a second consecutive session. Industry ...
Wednesday, 04 April 12
OIL MAY JUMP TO $150PB IF IRAN ATTACKED: EXPERT - KUNA / HELLENIC SHIPPING
Prices of oil will not drop below level of $100 per barrel and may jump to $150 pb in the coming two months, according to the prominent Kuwaiti expe ...
Wednesday, 04 April 12
CHURCHILL MINING TO ACCELERATE INTERNATIONAL ARBITRATION AGAINST INDONESIA
Churchill Mining plc (AIM: CHL), advises that notations on the Indonesian Supreme Court's register of cases shows the Supreme Court has rejected th ...
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- IEA Clean Coal Centre - UK
- ASAPP Information Group - India
- Indonesian Coal Mining Association
- Planning Commission, India
- Coalindo Energy - Indonesia
- Medco Energi Mining Internasional
- Formosa Plastics Group - Taiwan
- Power Finance Corporation Ltd., India
- Xindia Steels Limited - India
- Toyota Tsusho Corporation, Japan
- Jindal Steel & Power Ltd - India
- Bhatia International Limited - India
- Semirara Mining and Power Corporation, Philippines
- Thai Mozambique Logistica
- Marubeni Corporation - India
- Bangladesh Power Developement Board
- Ceylon Electricity Board - Sri Lanka
- VISA Power Limited - India
- Holcim Trading Pte Ltd - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Independent Power Producers Association of India
- Australian Coal Association
- Indika Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Siam City Cement - Thailand
- Kapuas Tunggal Persada - Indonesia
- Banpu Public Company Limited - Thailand
- Kumho Petrochemical, South Korea
- Uttam Galva Steels Limited - India
- Vedanta Resources Plc - India
- Ministry of Transport, Egypt
- Agrawal Coal Company - India
- CNBM International Corporation - China
- Malabar Cements Ltd - India
- SN Aboitiz Power Inc, Philippines
- Sojitz Corporation - Japan
- Electricity Generating Authority of Thailand
- Price Waterhouse Coopers - Russia
- Parliament of New Zealand
- India Bulls Power Limited - India
- Intertek Mineral Services - Indonesia
- Heidelberg Cement - Germany
- Ind-Barath Power Infra Limited - India
- Global Business Power Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Mintek Dendrill Indonesia
- Gujarat Electricity Regulatory Commission - India
- London Commodity Brokers - England
- Eastern Coal Council - USA
- Gujarat Mineral Development Corp Ltd - India
- Savvy Resources Ltd - HongKong
- Wilmar Investment Holdings
- Meenaskhi Energy Private Limited - India
- Mercuria Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Parry Sugars Refinery, India
- Bukit Asam (Persero) Tbk - Indonesia
- Singapore Mercantile Exchange
- MS Steel International - UAE
- Standard Chartered Bank - UAE
- Bulk Trading Sa - Switzerland
- Economic Council, Georgia
- Indogreen Group - Indonesia
- IHS Mccloskey Coal Group - USA
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Tamil Nadu electricity Board
- Anglo American - United Kingdom
- Rio Tinto Coal - Australia
- Coastal Gujarat Power Limited - India
- Videocon Industries ltd - India
- Manunggal Multi Energi - Indonesia
- Romanian Commodities Exchange
- The State Trading Corporation of India Ltd
- The Treasury - Australian Government
- Chamber of Mines of South Africa
- Electricity Authority, New Zealand
- Ministry of Finance - Indonesia
- Goldman Sachs - Singapore
- Directorate Of Revenue Intelligence - India
- CIMB Investment Bank - Malaysia
- Meralco Power Generation, Philippines
- Wood Mackenzie - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Directorate General of MIneral and Coal - Indonesia
- Sical Logistics Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- GMR Energy Limited - India
- Sakthi Sugars Limited - India
- Central Java Power - Indonesia
- Orica Mining Services - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Tata Chemicals Ltd - India
- Simpson Spence & Young - Indonesia
- Commonwealth Bank - Australia
- Lanco Infratech Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Iligan Light & Power Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Karbindo Abesyapradhi - Indoneisa
- Bahari Cakrawala Sebuku - Indonesia
- Barasentosa Lestari - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Samtan Co., Ltd - South Korea
- New Zealand Coal & Carbon
- Carbofer General Trading SA - India
- Mercator Lines Limited - India
- McConnell Dowell - Australia
- Riau Bara Harum - Indonesia
- Ministry of Mines - Canada
- Vizag Seaport Private Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Ambuja Cements Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Baramulti Group, Indonesia
- Cement Manufacturers Association - India
- Metalloyd Limited - United Kingdom
- Sindya Power Generating Company Private Ltd
- Kobexindo Tractors - Indoneisa
- Aditya Birla Group - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Gujarat Sidhee Cement - India
- Bharathi Cement Corporation - India
- Antam Resourcindo - Indonesia
- Indian Energy Exchange, India
- Borneo Indobara - Indonesia
- Larsen & Toubro Limited - India
- AsiaOL BioFuels Corp., Philippines
- Bukit Baiduri Energy - Indonesia
- Interocean Group of Companies - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Binh Thuan Hamico - Vietnam
- Sarangani Energy Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Maharashtra Electricity Regulatory Commission - India
- Georgia Ports Authority, United States
- Bhoruka Overseas - Indonesia
- Central Electricity Authority - India
- International Coal Ventures Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Minerals Council of Australia
- Petron Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Aboitiz Power Corporation - Philippines
- Oldendorff Carriers - Singapore
- SMC Global Power, Philippines
- South Luzon Thermal Energy Corporation
- Renaissance Capital - South Africa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Eastern Energy - Thailand
- The University of Queensland
- Dalmia Cement Bharat India
- Star Paper Mills Limited - India
- Timah Investasi Mineral - Indoneisa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Global Green Power PLC Corporation, Philippines
- Energy Development Corp, Philippines
- LBH Netherlands Bv - Netherlands
- Orica Australia Pty. Ltd.
- Billiton Holdings Pty Ltd - Australia
- Thiess Contractors Indonesia
- Jaiprakash Power Ventures ltd
- Therma Luzon, Inc, Philippines
- Energy Link Ltd, New Zealand
- Kartika Selabumi Mining - Indonesia
- Africa Commodities Group - South Africa
- Karaikal Port Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Semirara Mining Corp, Philippines
- Bayan Resources Tbk. - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Latin American Coal - Colombia
- Straits Asia Resources Limited - Singapore
- Sree Jayajothi Cements Limited - India
- Salva Resources Pvt Ltd - India
- Attock Cement Pakistan Limited
- Makarim & Taira - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Chettinad Cement Corporation Ltd - India
- Kepco SPC Power Corporation, Philippines
- Edison Trading Spa - Italy
- Globalindo Alam Lestari - Indonesia
- Essar Steel Hazira Ltd - India
- Kideco Jaya Agung - Indonesia
- White Energy Company Limited
- Bukit Makmur.PT - Indonesia
- Grasim Industreis Ltd - India
- ICICI Bank Limited - India
- SMG Consultants - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PNOC Exploration Corporation - Philippines
- Leighton Contractors Pty Ltd - Australia
- PowerSource Philippines DevCo
- Coal and Oil Company - UAE
- GVK Power & Infra Limited - India
- Trasteel International SA, Italy
- Madhucon Powers Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Indo Tambangraya Megah - Indonesia
- Mjunction Services Limited - India
- Deloitte Consulting - India
- San Jose City I Power Corp, Philippines
- Siam City Cement PLC, Thailand
- Indian Oil Corporation Limited
- OPG Power Generation Pvt Ltd - India
- Bhushan Steel Limited - India
- Port Waratah Coal Services - Australia
- Kaltim Prima Coal - Indonesia
- PTC India Limited - India
- Posco Energy - South Korea
- Australian Commodity Traders Exchange
- European Bulk Services B.V. - Netherlands
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