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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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Sunday, 22 January 12
FREIGHT MARKET DROPPED TO THE LOWEST LEVEL SINCE 2008
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ASIAS PREMIER COMPREHENSIVE OPEN CUT MINING CONFERENCE SCHEDULED FOR FEBRUARY 2012
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SAMIN TAN COMPLETES BUMI PLC TAKEOVER - INSIDER STORIES
Insider Stories reported that, Indonesian coking coal miner PT Borneo Lumbung Energi & Metal Tbk (BORN), that is controlled by stellar businessm ...
Thursday, 19 January 12
SOUTHGOBI RESOURCES SELLS MORE THAN FOUR MILLION TONNES OF COAL IN 2011, 58% MORE THAN 2010
COALspot.com - SouthGobi Resources Ltd. (TSX: SGQ, HK: 1878) has successfully complets year 2011 on guidance in terms of coal sales and production.
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- Sindya Power Generating Company Private Ltd
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- Thiess Contractors Indonesia
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- Cement Manufacturers Association - India
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- Meralco Power Generation, Philippines
- Romanian Commodities Exchange
- Thai Mozambique Logistica
- Maheswari Brothers Coal Limited - India
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- Semirara Mining and Power Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
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- Goldman Sachs - Singapore
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- Anglo American - United Kingdom
- Alfred C Toepfer International GmbH - Germany
- Bhatia International Limited - India
- The Treasury - Australian Government
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- Pipit Mutiara Jaya. PT, Indonesia
- GAC Shipping (India) Pvt Ltd
- Straits Asia Resources Limited - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Sarangani Energy Corporation, Philippines
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- Mjunction Services Limited - India
- London Commodity Brokers - England
- Gujarat Electricity Regulatory Commission - India
- Medco Energi Mining Internasional
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- Larsen & Toubro Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Latin American Coal - Colombia
- Ministry of Mines - Canada
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- Edison Trading Spa - Italy
- TeaM Sual Corporation - Philippines
- Petrochimia International Co. Ltd.- Taiwan
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- Petron Corporation, Philippines
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- Intertek Mineral Services - Indonesia
- White Energy Company Limited
- Renaissance Capital - South Africa
- Orica Australia Pty. Ltd.
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- Trasteel International SA, Italy
- Rashtriya Ispat Nigam Limited - India
- Commonwealth Bank - Australia
- Savvy Resources Ltd - HongKong
- Global Business Power Corporation, Philippines
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- Georgia Ports Authority, United States
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- The University of Queensland
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- SMG Consultants - Indonesia
- Coalindo Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Australian Coal Association
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Eastern Coal Council - USA
- Kartika Selabumi Mining - Indonesia
- Coastal Gujarat Power Limited - India
- Miang Besar Coal Terminal - Indonesia
- Metalloyd Limited - United Kingdom
- Grasim Industreis Ltd - India
- Lanco Infratech Ltd - India
- OPG Power Generation Pvt Ltd - India
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- Eastern Energy - Thailand
- Samtan Co., Ltd - South Korea
- Port Waratah Coal Services - Australia
- Economic Council, Georgia
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- Directorate Of Revenue Intelligence - India
- Sinarmas Energy and Mining - Indonesia
- Agrawal Coal Company - India
- CIMB Investment Bank - Malaysia
- Manunggal Multi Energi - Indonesia
- Singapore Mercantile Exchange
- Jindal Steel & Power Ltd - India
- Mintek Dendrill Indonesia
- Australian Commodity Traders Exchange
- Ministry of Finance - Indonesia
- IEA Clean Coal Centre - UK
- Billiton Holdings Pty Ltd - Australia
- Energy Link Ltd, New Zealand
- Star Paper Mills Limited - India
- Gujarat Sidhee Cement - India
- Jorong Barutama Greston.PT - Indonesia
- GVK Power & Infra Limited - India
- Riau Bara Harum - Indonesia
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- MS Steel International - UAE
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- Jaiprakash Power Ventures ltd
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- Tata Chemicals Ltd - India
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- VISA Power Limited - India
- Antam Resourcindo - Indonesia
- Kideco Jaya Agung - Indonesia
- PTC India Limited - India
- Standard Chartered Bank - UAE
- Offshore Bulk Terminal Pte Ltd, Singapore
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- Indian Oil Corporation Limited
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- Parliament of New Zealand
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- GN Power Mariveles Coal Plant, Philippines
- Banpu Public Company Limited - Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Minerals Council of Australia
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- The State Trading Corporation of India Ltd
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- Siam City Cement PLC, Thailand
- New Zealand Coal & Carbon
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- Bank of Tokyo Mitsubishi UFJ Ltd
- Heidelberg Cement - Germany
- Oldendorff Carriers - Singapore
- Kohat Cement Company Ltd. - Pakistan
- AsiaOL BioFuels Corp., Philippines
- Bukit Makmur.PT - Indonesia
- Formosa Plastics Group - Taiwan
- Bhoruka Overseas - Indonesia
- Aditya Birla Group - India
- Planning Commission, India
- San Jose City I Power Corp, Philippines
- LBH Netherlands Bv - Netherlands
- Wilmar Investment Holdings
- International Coal Ventures Pvt Ltd - India
- Price Waterhouse Coopers - Russia
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- Merrill Lynch Commodities Europe
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- McConnell Dowell - Australia
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