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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, 15 January 12
THE FREIGHT MARKET CONTINUED TO BLEED - VISTAAR
COALspot.com - "The markets continued to bleed with BDI touching almost 1000 points , almost reaching the collapse of 2008 levels," said C ...
Saturday, 14 January 12
GOLDEN MINES TO SUPPLY 4 MIO TONS - INSIDER STORIES
Insider Stories reported that, Coal miner under Sinarmas Group PT Golden Energy Mines Tbk (GEMS), a subsidiary of PT Dian Swastatika Sentosa Tbk (DS ...
Friday, 13 January 12
DIFFICULT START OF 2012 FOR DRY BULK MARKET SEEN HARD TO CHANGE IN THE COURSE OF THE YEAR, UNLESS DEMOLITION PICKS UP
The dry bulk market has been on a freefall this week after a rocky start to the new year. Yesterday, the BDI (Baltic Dry Index) the industry's benc ...
Thursday, 12 January 12
DRY BULK MARKET CRASHING AT START OF THE YEAR - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has kept being on freefall mode yesterday, with the industry's benchmark, the BDI (Baltic Dry Index) losing a massive 5.17% on ...
Wednesday, 11 January 12
NEWBUILDING ORDERS DECLINE, AS SHIP OWNERS REALIZE OVERSUPPLY WILL "KILL" THEM - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With 2012 now underway, it will be rather interesting to see how ship owners will play the "newbuilding ordering" card to their favor, as ...
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- PTC India Limited - India
- Ceylon Electricity Board - Sri Lanka
- Coalindo Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Electricity Authority, New Zealand
- Metalloyd Limited - United Kingdom
- Madhucon Powers Ltd - India
- Lanco Infratech Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- OPG Power Generation Pvt Ltd - India
- Mintek Dendrill Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Tata Chemicals Ltd - India
- Altura Mining Limited, Indonesia
- McConnell Dowell - Australia
- Wilmar Investment Holdings
- Indika Energy - Indonesia
- Dalmia Cement Bharat India
- The State Trading Corporation of India Ltd
- SMG Consultants - Indonesia
- Indian Energy Exchange, India
- Banpu Public Company Limited - Thailand
- Deloitte Consulting - India
- Timah Investasi Mineral - Indoneisa
- Anglo American - United Kingdom
- Parliament of New Zealand
- LBH Netherlands Bv - Netherlands
- SMC Global Power, Philippines
- Manunggal Multi Energi - Indonesia
- White Energy Company Limited
- Eastern Energy - Thailand
- Orica Mining Services - Indonesia
- Port Waratah Coal Services - Australia
- Grasim Industreis Ltd - India
- Uttam Galva Steels Limited - India
- Global Green Power PLC Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Jorong Barutama Greston.PT - Indonesia
- ICICI Bank Limited - India
- Indian Oil Corporation Limited
- GMR Energy Limited - India
- Gujarat Sidhee Cement - India
- Sinarmas Energy and Mining - Indonesia
- Carbofer General Trading SA - India
- Indo Tambangraya Megah - Indonesia
- New Zealand Coal & Carbon
- Cigading International Bulk Terminal - Indonesia
- Semirara Mining Corp, Philippines
- Agrawal Coal Company - India
- Aditya Birla Group - India
- Australian Coal Association
- TNB Fuel Sdn Bhd - Malaysia
- Aboitiz Power Corporation - Philippines
- Romanian Commodities Exchange
- Oldendorff Carriers - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Maheswari Brothers Coal Limited - India
- Marubeni Corporation - India
- Straits Asia Resources Limited - Singapore
- Borneo Indobara - Indonesia
- Makarim & Taira - Indonesia
- Chamber of Mines of South Africa
- Gujarat Electricity Regulatory Commission - India
- Vedanta Resources Plc - India
- Baramulti Group, Indonesia
- Edison Trading Spa - Italy
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Commonwealth Bank - Australia
- Latin American Coal - Colombia
- Gujarat Mineral Development Corp Ltd - India
- Riau Bara Harum - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Cement Manufacturers Association - India
- Kobexindo Tractors - Indoneisa
- Energy Development Corp, Philippines
- Parry Sugars Refinery, India
- Siam City Cement PLC, Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Star Paper Mills Limited - India
- Miang Besar Coal Terminal - Indonesia
- Economic Council, Georgia
- The Treasury - Australian Government
- Leighton Contractors Pty Ltd - Australia
- Energy Link Ltd, New Zealand
- Sarangani Energy Corporation, Philippines
- Independent Power Producers Association of India
- Kepco SPC Power Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Ambuja Cements Ltd - India
- Power Finance Corporation Ltd., India
- Holcim Trading Pte Ltd - Singapore
- Bukit Makmur.PT - Indonesia
- Rio Tinto Coal - Australia
- Renaissance Capital - South Africa
- Antam Resourcindo - Indonesia
- Heidelberg Cement - Germany
- Bhatia International Limited - India
- Minerals Council of Australia
- IHS Mccloskey Coal Group - USA
- Sindya Power Generating Company Private Ltd
- Larsen & Toubro Limited - India
- Eastern Coal Council - USA
- Thiess Contractors Indonesia
- Iligan Light & Power Inc, Philippines
- GVK Power & Infra Limited - India
- London Commodity Brokers - England
- Posco Energy - South Korea
- Global Business Power Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Meralco Power Generation, Philippines
- Kartika Selabumi Mining - Indonesia
- Vizag Seaport Private Limited - India
- Bangladesh Power Developement Board
- Offshore Bulk Terminal Pte Ltd, Singapore
- Siam City Cement - Thailand
- Salva Resources Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Standard Chartered Bank - UAE
- Bharathi Cement Corporation - India
- GAC Shipping (India) Pvt Ltd
- Trasteel International SA, Italy
- Medco Energi Mining Internasional
- Intertek Mineral Services - Indonesia
- South Luzon Thermal Energy Corporation
- San Jose City I Power Corp, Philippines
- SN Aboitiz Power Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Africa Commodities Group - South Africa
- Singapore Mercantile Exchange
- Petron Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Simpson Spence & Young - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Orica Australia Pty. Ltd.
- Bhoruka Overseas - Indonesia
- Ind-Barath Power Infra Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Sakthi Sugars Limited - India
- Kaltim Prima Coal - Indonesia
- Sical Logistics Limited - India
- Formosa Plastics Group - Taiwan
- Malabar Cements Ltd - India
- PNOC Exploration Corporation - Philippines
- Essar Steel Hazira Ltd - India
- Kumho Petrochemical, South Korea
- CNBM International Corporation - China
- Toyota Tsusho Corporation, Japan
- Sree Jayajothi Cements Limited - India
- The University of Queensland
- Jindal Steel & Power Ltd - India
- Alfred C Toepfer International GmbH - Germany
- TeaM Sual Corporation - Philippines
- Mercuria Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Coastal Gujarat Power Limited - India
- Ministry of Finance - Indonesia
- Electricity Generating Authority of Thailand
- Ministry of Transport, Egypt
- Xindia Steels Limited - India
- Therma Luzon, Inc, Philippines
- Coal and Oil Company - UAE
- Ministry of Mines - Canada
- Kalimantan Lumbung Energi - Indonesia
- Bulk Trading Sa - Switzerland
- Chettinad Cement Corporation Ltd - India
- Attock Cement Pakistan Limited
- India Bulls Power Limited - India
- Bhushan Steel Limited - India
- Indonesian Coal Mining Association
- Pendopo Energi Batubara - Indonesia
- ASAPP Information Group - India
- Sojitz Corporation - Japan
- Semirara Mining and Power Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Globalindo Alam Lestari - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Binh Thuan Hamico - Vietnam
- Bukit Asam (Persero) Tbk - Indonesia
- MS Steel International - UAE
- Jaiprakash Power Ventures ltd
- Georgia Ports Authority, United States
- Bukit Baiduri Energy - Indonesia
- Wood Mackenzie - Singapore
- Karaikal Port Pvt Ltd - India
- Goldman Sachs - Singapore
- Thai Mozambique Logistica
- Mercator Lines Limited - India
- VISA Power Limited - India
- Meenaskhi Energy Private Limited - India
- Merrill Lynch Commodities Europe
- Tamil Nadu electricity Board
- PowerSource Philippines DevCo
- Price Waterhouse Coopers - Russia
- CIMB Investment Bank - Malaysia
- Central Electricity Authority - India
- Samtan Co., Ltd - South Korea
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Australian Commodity Traders Exchange
- Central Java Power - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Interocean Group of Companies - India
- Mjunction Services Limited - India
- Indogreen Group - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Videocon Industries ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Rashtriya Ispat Nigam Limited - India
- European Bulk Services B.V. - Netherlands
- IEA Clean Coal Centre - UK
- Planning Commission, India
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