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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, 26 March 12
WEEKLY DRY MARKET OVERVIEW - MARIA BERTZELETOU, HELLENIC SHIPPING
The Baltic Dry Index follows its upward incline for fourth consecutive week by rising to more than 900 points, up by 37% from the bottom low in the ...
Monday, 26 March 12
GOLDEN MINES FY11 REVENUE JUMPS 209% - INSIDER STORIES
Insider Stories reported that, coal miner PT Golden Energy Mines Tbk (GEMS), that is controlled by Sinar Mas Group, recorded a 209% jump in revenue ...
Saturday, 24 March 12
AUSTRALIA'S MINERAL TAX : BENCHMARK FOR OTHER COUNTRIES - SUNIL K KUMBHAT
COALspot.com - Natural resources rich counties like Australia , Indonesia , South Africa , Brazil etc are going through a spectacular resources boom ...
Saturday, 24 March 12
THE AVERAGE CHARTER RATES WAS AT CAPESIZE $ 4,546 PER DAY VS SUPRAMAX / $ 10,819 PER DAY - VISTAAR
COALspot.com - The BDI crossed 900 points this week closing at 908 points up by 3.89 pct. All other sectors were up except for cape index whic ...
Thursday, 22 March 12
ECI-CHINA HANDY RATES ARE AROUND US$ 8000 - FEARNLEYS
Handy
Another positive trend was seen last week with more cargoes entering the market. Skaw-Passero/US Gulf climbed slowly up to USD 3700, while US ...
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- Ceylon Electricity Board - Sri Lanka
- TeaM Sual Corporation - Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Pendopo Energi Batubara - Indonesia
- Wood Mackenzie - Singapore
- Parry Sugars Refinery, India
- Bangladesh Power Developement Board
- Coastal Gujarat Power Limited - India
- Bharathi Cement Corporation - India
- Price Waterhouse Coopers - Russia
- GAC Shipping (India) Pvt Ltd
- Banpu Public Company Limited - Thailand
- Electricity Generating Authority of Thailand
- Renaissance Capital - South Africa
- GMR Energy Limited - India
- Sinarmas Energy and Mining - Indonesia
- Borneo Indobara - Indonesia
- Wilmar Investment Holdings
- SN Aboitiz Power Inc, Philippines
- Ambuja Cements Ltd - India
- Kumho Petrochemical, South Korea
- Goldman Sachs - Singapore
- Sindya Power Generating Company Private Ltd
- Kohat Cement Company Ltd. - Pakistan
- Chettinad Cement Corporation Ltd - India
- Coalindo Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Posco Energy - South Korea
- Barasentosa Lestari - Indonesia
- Africa Commodities Group - South Africa
- Georgia Ports Authority, United States
- CNBM International Corporation - China
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Makarim & Taira - Indonesia
- Thai Mozambique Logistica
- OPG Power Generation Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Central Java Power - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Ministry of Finance - Indonesia
- Indian Oil Corporation Limited
- Videocon Industries ltd - India
- CIMB Investment Bank - Malaysia
- Bukit Asam (Persero) Tbk - Indonesia
- Kepco SPC Power Corporation, Philippines
- Tamil Nadu electricity Board
- Bukit Baiduri Energy - Indonesia
- Interocean Group of Companies - India
- Miang Besar Coal Terminal - Indonesia
- Merrill Lynch Commodities Europe
- Petron Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Trasteel International SA, Italy
- Krishnapatnam Port Company Ltd. - India
- Metalloyd Limited - United Kingdom
- ASAPP Information Group - India
- Vizag Seaport Private Limited - India
- Indogreen Group - Indonesia
- Cigading International Bulk Terminal - Indonesia
- PNOC Exploration Corporation - Philippines
- Semirara Mining Corp, Philippines
- Dalmia Cement Bharat India
- PTC India Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- McConnell Dowell - Australia
- Coal and Oil Company - UAE
- Kalimantan Lumbung Energi - Indonesia
- Central Electricity Authority - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Madhucon Powers Ltd - India
- Sarangani Energy Corporation, Philippines
- Chamber of Mines of South Africa
- Riau Bara Harum - Indonesia
- Sojitz Corporation - Japan
- Mercuria Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- VISA Power Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- ICICI Bank Limited - India
- Commonwealth Bank - Australia
- The State Trading Corporation of India Ltd
- Savvy Resources Ltd - HongKong
- Uttam Galva Steels Limited - India
- SMG Consultants - Indonesia
- LBH Netherlands Bv - Netherlands
- Orica Mining Services - Indonesia
- Sakthi Sugars Limited - India
- Independent Power Producers Association of India
- Gujarat Mineral Development Corp Ltd - India
- Eastern Coal Council - USA
- Jindal Steel & Power Ltd - India
- Electricity Authority, New Zealand
- Latin American Coal - Colombia
- Kaltim Prima Coal - Indonesia
- Indonesian Coal Mining Association
- Mjunction Services Limited - India
- Lanco Infratech Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Directorate General of MIneral and Coal - Indonesia
- Romanian Commodities Exchange
- Gujarat Sidhee Cement - India
- AsiaOL BioFuels Corp., Philippines
- Agrawal Coal Company - India
- Kartika Selabumi Mining - Indonesia
- Siam City Cement - Thailand
- Kobexindo Tractors - Indoneisa
- Grasim Industreis Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Carbofer General Trading SA - India
- Petrochimia International Co. Ltd.- Taiwan
- SMC Global Power, Philippines
- Power Finance Corporation Ltd., India
- Indika Energy - Indonesia
- Larsen & Toubro Limited - India
- Holcim Trading Pte Ltd - Singapore
- Gujarat Electricity Regulatory Commission - India
- Alfred C Toepfer International GmbH - Germany
- Rashtriya Ispat Nigam Limited - India
- Port Waratah Coal Services - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Altura Mining Limited, Indonesia
- MS Steel International - UAE
- Binh Thuan Hamico - Vietnam
- Singapore Mercantile Exchange
- Standard Chartered Bank - UAE
- Sree Jayajothi Cements Limited - India
- European Bulk Services B.V. - Netherlands
- Bhoruka Overseas - Indonesia
- New Zealand Coal & Carbon
- Bayan Resources Tbk. - Indonesia
- GVK Power & Infra Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- PowerSource Philippines DevCo
- London Commodity Brokers - England
- Medco Energi Mining Internasional
- Jaiprakash Power Ventures ltd
- Meralco Power Generation, Philippines
- Karaikal Port Pvt Ltd - India
- Attock Cement Pakistan Limited
- Indian Energy Exchange, India
- Kideco Jaya Agung - Indonesia
- Bulk Trading Sa - Switzerland
- The University of Queensland
- GN Power Mariveles Coal Plant, Philippines
- Mintek Dendrill Indonesia
- Baramulti Group, Indonesia
- Timah Investasi Mineral - Indoneisa
- Oldendorff Carriers - Singapore
- White Energy Company Limited
- Billiton Holdings Pty Ltd - Australia
- Sical Logistics Limited - India
- Ministry of Mines - Canada
- Karbindo Abesyapradhi - Indoneisa
- Deloitte Consulting - India
- International Coal Ventures Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Maheswari Brothers Coal Limited - India
- Australian Coal Association
- Heidelberg Cement - Germany
- India Bulls Power Limited - India
- Global Business Power Corporation, Philippines
- Rio Tinto Coal - Australia
- Aboitiz Power Corporation - Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Planning Commission, India
- Bhatia International Limited - India
- Iligan Light & Power Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- Economic Council, Georgia
- Directorate Of Revenue Intelligence - India
- Manunggal Multi Energi - Indonesia
- Minerals Council of Australia
- Aditya Birla Group - India
- Asmin Koalindo Tuhup - Indonesia
- IEA Clean Coal Centre - UK
- Jorong Barutama Greston.PT - Indonesia
- Tata Chemicals Ltd - India
- Samtan Co., Ltd - South Korea
- Malabar Cements Ltd - India
- Semirara Mining and Power Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Marubeni Corporation - India
- Ind-Barath Power Infra Limited - India
- Global Green Power PLC Corporation, Philippines
- Eastern Energy - Thailand
- Cement Manufacturers Association - India
- Edison Trading Spa - Italy
- Energy Development Corp, Philippines
- Toyota Tsusho Corporation, Japan
- The Treasury - Australian Government
- Globalindo Alam Lestari - Indonesia
- Energy Link Ltd, New Zealand
- Mercator Lines Limited - India
- Anglo American - United Kingdom
- Antam Resourcindo - Indonesia
- Meenaskhi Energy Private Limited - India
- Formosa Plastics Group - Taiwan
- Vedanta Resources Plc - India
- Simpson Spence & Young - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Parliament of New Zealand
- Orica Australia Pty. Ltd.
- Essar Steel Hazira Ltd - India
- San Jose City I Power Corp, Philippines
- Ministry of Transport, Egypt
- Intertek Mineral Services - Indonesia
- Global Coal Blending Company Limited - Australia
- Star Paper Mills Limited - India
- Straits Asia Resources Limited - Singapore
- Thiess Contractors Indonesia
- Xindia Steels Limited - India
- Siam City Cement PLC, Thailand
- Bhushan Steel Limited - India
- Therma Luzon, Inc, Philippines
- Australian Commodity Traders Exchange
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