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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, 02 April 12
BANGLADESH EYEING INDONESIA FOR COAL
COALspot.com - The high level executives of Center for Environmental and Geographic Information Services (CEGIS) of Bangladesh is visiting Ind ...
Monday, 02 April 12
WEEKLY DRY MARKET OVERVIEW - MARIA BERTZELETOU, HELLENIC SHIPPING
The first quarter of the New Year ended with the BDI standing 42% above from the 26 years’ bottom low of 662 points on February 1st, and a pos ...
Saturday, 31 March 12
THE BDI CONTINUED TO MOVE UPWARD - VISTAAR
COALspot.com - The BDI continued to move upward and rose by 2.86 pct closing at 934 points.
The cape index was up by 3.14 pct closing at 1,412 po ...
Saturday, 31 March 12
SRI LANKA IMPORTS 152,555 MT OF INDONESIAN COAL IN FEBRUARY
COALspot.com: Indonesia, the world largest coal exporter, shipped 27.126* million tons of coal in February 2012, compared to 28.21* million to ...
Friday, 30 March 12
RECOND NUMBERS SURROUNDING THE SUPRAMAX DRY BULK MARKET - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Last year proved to be both a record year in the number of deliveries of dry bulkers between 40,000dwt and 64,000dwt, as well as a record year in th ...
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- Leighton Contractors Pty Ltd - Australia
- Kohat Cement Company Ltd. - Pakistan
- Posco Energy - South Korea
- San Jose City I Power Corp, Philippines
- Thiess Contractors Indonesia
- Kideco Jaya Agung - Indonesia
- Semirara Mining and Power Corporation, Philippines
- White Energy Company Limited
- Sical Logistics Limited - India
- Intertek Mineral Services - Indonesia
- Vedanta Resources Plc - India
- Lanco Infratech Ltd - India
- SMG Consultants - Indonesia
- Coalindo Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Grasim Industreis Ltd - India
- Global Coal Blending Company Limited - Australia
- Kepco SPC Power Corporation, Philippines
- Heidelberg Cement - Germany
- Goldman Sachs - Singapore
- Bharathi Cement Corporation - India
- Directorate Of Revenue Intelligence - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Kumho Petrochemical, South Korea
- Sakthi Sugars Limited - India
- Global Business Power Corporation, Philippines
- London Commodity Brokers - England
- Kaltim Prima Coal - Indonesia
- Iligan Light & Power Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Bukit Makmur.PT - Indonesia
- Attock Cement Pakistan Limited
- ICICI Bank Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Parliament of New Zealand
- South Luzon Thermal Energy Corporation
- Mercuria Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Anglo American - United Kingdom
- Aditya Birla Group - India
- Bangladesh Power Developement Board
- Antam Resourcindo - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Mercator Lines Limited - India
- TeaM Sual Corporation - Philippines
- AsiaOL BioFuels Corp., Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Simpson Spence & Young - Indonesia
- Orica Mining Services - Indonesia
- Formosa Plastics Group - Taiwan
- OPG Power Generation Pvt Ltd - India
- Marubeni Corporation - India
- Port Waratah Coal Services - Australia
- The University of Queensland
- Ambuja Cements Ltd - India
- GMR Energy Limited - India
- LBH Netherlands Bv - Netherlands
- Renaissance Capital - South Africa
- Pendopo Energi Batubara - Indonesia
- Bhoruka Overseas - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Straits Asia Resources Limited - Singapore
- Merrill Lynch Commodities Europe
- Romanian Commodities Exchange
- ASAPP Information Group - India
- Edison Trading Spa - Italy
- Eastern Coal Council - USA
- Petrochimia International Co. Ltd.- Taiwan
- Tamil Nadu electricity Board
- Makarim & Taira - Indonesia
- Sindya Power Generating Company Private Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Rio Tinto Coal - Australia
- Madhucon Powers Ltd - India
- Savvy Resources Ltd - HongKong
- Essar Steel Hazira Ltd - India
- Gujarat Sidhee Cement - India
- Altura Mining Limited, Indonesia
- Indogreen Group - Indonesia
- Trasteel International SA, Italy
- CNBM International Corporation - China
- Ind-Barath Power Infra Limited - India
- Meenaskhi Energy Private Limited - India
- India Bulls Power Limited - India
- Riau Bara Harum - Indonesia
- Aboitiz Power Corporation - Philippines
- Deloitte Consulting - India
- Electricity Generating Authority of Thailand
- Therma Luzon, Inc, Philippines
- Ministry of Mines - Canada
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Alfred C Toepfer International GmbH - Germany
- Larsen & Toubro Limited - India
- Mintek Dendrill Indonesia
- Jaiprakash Power Ventures ltd
- Holcim Trading Pte Ltd - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Kobexindo Tractors - Indoneisa
- Timah Investasi Mineral - Indoneisa
- Jindal Steel & Power Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- International Coal Ventures Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Price Waterhouse Coopers - Russia
- Kalimantan Lumbung Energi - Indonesia
- Chamber of Mines of South Africa
- McConnell Dowell - Australia
- Latin American Coal - Colombia
- Xindia Steels Limited - India
- Karaikal Port Pvt Ltd - India
- Sojitz Corporation - Japan
- Videocon Industries ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ceylon Electricity Board - Sri Lanka
- Dalmia Cement Bharat India
- Baramulti Group, Indonesia
- Borneo Indobara - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Maheswari Brothers Coal Limited - India
- Semirara Mining Corp, Philippines
- Sinarmas Energy and Mining - Indonesia
- Cement Manufacturers Association - India
- Bukit Asam (Persero) Tbk - Indonesia
- MS Steel International - UAE
- Energy Link Ltd, New Zealand
- Interocean Group of Companies - India
- Indian Energy Exchange, India
- Singapore Mercantile Exchange
- IEA Clean Coal Centre - UK
- Siam City Cement PLC, Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Neyveli Lignite Corporation Ltd, - India
- Sarangani Energy Corporation, Philippines
- SMC Global Power, Philippines
- Parry Sugars Refinery, India
- Bulk Trading Sa - Switzerland
- Global Green Power PLC Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Australian Commodity Traders Exchange
- Standard Chartered Bank - UAE
- CIMB Investment Bank - Malaysia
- European Bulk Services B.V. - Netherlands
- VISA Power Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Indonesian Coal Mining Association
- Orica Australia Pty. Ltd.
- Meralco Power Generation, Philippines
- Planning Commission, India
- Barasentosa Lestari - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Carbofer General Trading SA - India
- Rashtriya Ispat Nigam Limited - India
- Metalloyd Limited - United Kingdom
- Minerals Council of Australia
- Wood Mackenzie - Singapore
- Agrawal Coal Company - India
- Bhushan Steel Limited - India
- Toyota Tsusho Corporation, Japan
- Central Java Power - Indonesia
- Georgia Ports Authority, United States
- Indika Energy - Indonesia
- Mjunction Services Limited - India
- Salva Resources Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Samtan Co., Ltd - South Korea
- Oldendorff Carriers - Singapore
- New Zealand Coal & Carbon
- PowerSource Philippines DevCo
- Ministry of Transport, Egypt
- Australian Coal Association
- Petron Corporation, Philippines
- Energy Development Corp, Philippines
- Kartika Selabumi Mining - Indonesia
- The Treasury - Australian Government
- Sree Jayajothi Cements Limited - India
- Globalindo Alam Lestari - Indonesia
- GVK Power & Infra Limited - India
- Eastern Energy - Thailand
- Tata Chemicals Ltd - India
- Africa Commodities Group - South Africa
- Banpu Public Company Limited - Thailand
- SN Aboitiz Power Inc, Philippines
- IHS Mccloskey Coal Group - USA
- Indian Oil Corporation Limited
- PetroVietnam Power Coal Import and Supply Company
- Central Electricity Authority - India
- Economic Council, Georgia
- GAC Shipping (India) Pvt Ltd
- Uttam Galva Steels Limited - India
- Wilmar Investment Holdings
- Star Paper Mills Limited - India
- Independent Power Producers Association of India
- PNOC Exploration Corporation - Philippines
- Bhatia International Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Electricity Authority, New Zealand
- GN Power Mariveles Coal Plant, Philippines
- Coal and Oil Company - UAE
- Binh Thuan Hamico - Vietnam
- PTC India Limited - India
- Malabar Cements Ltd - India
- Bukit Baiduri Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Chettinad Cement Corporation Ltd - India
- Vizag Seaport Private Limited - India
- Thai Mozambique Logistica
- Medco Energi Mining Internasional
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ministry of Finance - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Siam City Cement - Thailand
- Commonwealth Bank - Australia
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