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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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Tuesday, 31 January 12
THERE ARE MANY GOOD REASONS FOR COAL IN GERMANY - DR CIESLIK
COALspot.com - "The year 2011 was again marked by many changes on the markets and energy policies, at times in line with expectations, but at o ...
Tuesday, 31 January 12
DRY BULK MARKET KEEPS FALLING FOR WORST MONTH IN YEARS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market didn't manage to put a halt in its downfall, with the industry's benchmark, the BDI (Baltic Dry Index), posting yet another fa ...
Monday, 30 January 12
CHINA'S HUNGER FOR COAL LEAVES DENT IN PENNSYLVANIA'S SUPPLY - THOMAS LESKIN
With the price of heating oil on the rise, one of Pennsylvania's greatest natural resources - coal - is in high demand, and not just locally.
Et ...
Saturday, 28 January 12
WILL FREIGHT MARKET STABILIZE FROM NEXT WEEK?
COALspot.com - The markets continued to soften with BDI at 663 points down by 15.78 pct closing at 726 points and cape index was down by 5.73 pct cl ...
Friday, 27 January 12
DEMOLITION ACTIVITY NEEDS TO INCREASE SIGNIFICANTLY THIS YEAR AS WELL - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The oversupply of vessels in most shipping sectors is so intense that it’s become clear to ship owners that unless they scrap as many of their ...
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- Gujarat Mineral Development Corp Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Global Green Power PLC Corporation, Philippines
- The State Trading Corporation of India Ltd
- Marubeni Corporation - India
- Banpu Public Company Limited - Thailand
- Bangladesh Power Developement Board
- Romanian Commodities Exchange
- TNB Fuel Sdn Bhd - Malaysia
- Trasteel International SA, Italy
- Economic Council, Georgia
- Bhoruka Overseas - Indonesia
- Baramulti Group, Indonesia
- Orica Australia Pty. Ltd.
- Samtan Co., Ltd - South Korea
- Minerals Council of Australia
- Siam City Cement PLC, Thailand
- Edison Trading Spa - Italy
- Sinarmas Energy and Mining - Indonesia
- Timah Investasi Mineral - Indoneisa
- Maharashtra Electricity Regulatory Commission - India
- Borneo Indobara - Indonesia
- South Luzon Thermal Energy Corporation
- Bulk Trading Sa - Switzerland
- Karbindo Abesyapradhi - Indoneisa
- Jindal Steel & Power Ltd - India
- Indian Oil Corporation Limited
- Indonesian Coal Mining Association
- Bukit Baiduri Energy - Indonesia
- Bhatia International Limited - India
- Sical Logistics Limited - India
- Riau Bara Harum - Indonesia
- Sarangani Energy Corporation, Philippines
- Carbofer General Trading SA - India
- Toyota Tsusho Corporation, Japan
- Energy Development Corp, Philippines
- Gujarat Sidhee Cement - India
- Savvy Resources Ltd - HongKong
- Electricity Generating Authority of Thailand
- Tamil Nadu electricity Board
- Intertek Mineral Services - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Indian Energy Exchange, India
- Ceylon Electricity Board - Sri Lanka
- Anglo American - United Kingdom
- Mjunction Services Limited - India
- McConnell Dowell - Australia
- Bharathi Cement Corporation - India
- Kapuas Tunggal Persada - Indonesia
- Australian Commodity Traders Exchange
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kohat Cement Company Ltd. - Pakistan
- San Jose City I Power Corp, Philippines
- Iligan Light & Power Inc, Philippines
- The Treasury - Australian Government
- Mercator Lines Limited - India
- Ministry of Mines - Canada
- Sindya Power Generating Company Private Ltd
- Binh Thuan Hamico - Vietnam
- Kobexindo Tractors - Indoneisa
- Medco Energi Mining Internasional
- GN Power Mariveles Coal Plant, Philippines
- Deloitte Consulting - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Coastal Gujarat Power Limited - India
- Jaiprakash Power Ventures ltd
- Ministry of Transport, Egypt
- Ind-Barath Power Infra Limited - India
- White Energy Company Limited
- VISA Power Limited - India
- Africa Commodities Group - South Africa
- PetroVietnam Power Coal Import and Supply Company
- Siam City Cement - Thailand
- Barasentosa Lestari - Indonesia
- Renaissance Capital - South Africa
- Directorate General of MIneral and Coal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Wood Mackenzie - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Petrochimia International Co. Ltd.- Taiwan
- Uttam Galva Steels Limited - India
- Parliament of New Zealand
- Chamber of Mines of South Africa
- PowerSource Philippines DevCo
- Wilmar Investment Holdings
- The University of Queensland
- Port Waratah Coal Services - Australia
- Meenaskhi Energy Private Limited - India
- Videocon Industries ltd - India
- PTC India Limited - India
- Attock Cement Pakistan Limited
- Vizag Seaport Private Limited - India
- India Bulls Power Limited - India
- Krishnapatnam Port Company Ltd. - India
- Vijayanagar Sugar Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Manunggal Multi Energi - Indonesia
- Energy Link Ltd, New Zealand
- PNOC Exploration Corporation - Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Miang Besar Coal Terminal - Indonesia
- GVK Power & Infra Limited - India
- Larsen & Toubro Limited - India
- CIMB Investment Bank - Malaysia
- Price Waterhouse Coopers - Russia
- Rashtriya Ispat Nigam Limited - India
- Mercuria Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Power Finance Corporation Ltd., India
- Commonwealth Bank - Australia
- Therma Luzon, Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Petron Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Salva Resources Pvt Ltd - India
- Central Java Power - Indonesia
- Eastern Coal Council - USA
- European Bulk Services B.V. - Netherlands
- Aditya Birla Group - India
- Alfred C Toepfer International GmbH - Germany
- Sree Jayajothi Cements Limited - India
- Thai Mozambique Logistica
- Grasim Industreis Ltd - India
- Bayan Resources Tbk. - Indonesia
- Indo Tambangraya Megah - Indonesia
- Parry Sugars Refinery, India
- Posco Energy - South Korea
- Coalindo Energy - Indonesia
- Indogreen Group - Indonesia
- Independent Power Producers Association of India
- Ambuja Cements Ltd - India
- Singapore Mercantile Exchange
- Antam Resourcindo - Indonesia
- Kumho Petrochemical, South Korea
- Jorong Barutama Greston.PT - Indonesia
- Orica Mining Services - Indonesia
- Goldman Sachs - Singapore
- Dalmia Cement Bharat India
- SMG Consultants - Indonesia
- Interocean Group of Companies - India
- Coal and Oil Company - UAE
- London Commodity Brokers - England
- Straits Asia Resources Limited - Singapore
- Directorate Of Revenue Intelligence - India
- Mintek Dendrill Indonesia
- AsiaOL BioFuels Corp., Philippines
- Billiton Holdings Pty Ltd - Australia
- IHS Mccloskey Coal Group - USA
- MS Steel International - UAE
- Kartika Selabumi Mining - Indonesia
- Standard Chartered Bank - UAE
- Georgia Ports Authority, United States
- Oldendorff Carriers - Singapore
- Kaltim Prima Coal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Maheswari Brothers Coal Limited - India
- Metalloyd Limited - United Kingdom
- International Coal Ventures Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Eastern Energy - Thailand
- Chettinad Cement Corporation Ltd - India
- Semirara Mining Corp, Philippines
- Altura Mining Limited, Indonesia
- Sakthi Sugars Limited - India
- Australian Coal Association
- Star Paper Mills Limited - India
- Madhucon Powers Ltd - India
- Electricity Authority, New Zealand
- Aboitiz Power Corporation - Philippines
- Heidelberg Cement - Germany
- IEA Clean Coal Centre - UK
- Cement Manufacturers Association - India
- Merrill Lynch Commodities Europe
- Makarim & Taira - Indonesia
- Kepco SPC Power Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Thiess Contractors Indonesia
- Simpson Spence & Young - Indonesia
- Formosa Plastics Group - Taiwan
- Meralco Power Generation, Philippines
- Xindia Steels Limited - India
- Malabar Cements Ltd - India
- Essar Steel Hazira Ltd - India
- Rio Tinto Coal - Australia
- Bukit Makmur.PT - Indonesia
- Bhushan Steel Limited - India
- Leighton Contractors Pty Ltd - Australia
- CNBM International Corporation - China
- LBH Netherlands Bv - Netherlands
- Global Coal Blending Company Limited - Australia
- Lanco Infratech Ltd - India
- Central Electricity Authority - India
- Planning Commission, India
- Indika Energy - Indonesia
- Vedanta Resources Plc - India
- Ministry of Finance - Indonesia
- Agrawal Coal Company - India
- SN Aboitiz Power Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- ICICI Bank Limited - India
- SMC Global Power, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Sojitz Corporation - Japan
- Karaikal Port Pvt Ltd - India
- New Zealand Coal & Carbon
- Latin American Coal - Colombia
- Pendopo Energi Batubara - Indonesia
- ASAPP Information Group - India
- Tata Chemicals Ltd - India
- GMR Energy Limited - India
- Global Business Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
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