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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, 10 January 12
THE 4TH DEEPWATER ASIA CONGRESS 2012 WILL KICK OFF ON MAY 23 - 25
Press release - Based on the past three years’ success, SZ & W Group is excited to announce the 4th Deepwater Asia Congress will be held o ...
Monday, 09 January 12
2012: WHAT WILL IT BRING FOR THE DRY BULK MARKET? - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
A further increase in dry bulk demand could be the remedy for most of the industry's oversupply issues, together of course with the high level of s ...
Sunday, 08 January 12
ICICI OUTLOOK ON INDIAN POWER, MINING,CEMENT, AND SHIPPING SECTORS PERFORMANCE IN 2012
Broking firm, ICICIdirect (India) has come out with report on sectors outlook for 2012. IRIS has collated key highlights for each sector from ...
Sunday, 08 January 12
SUPRAMAX DELIVERY SOUTH CHINA FOR TRIPS VIA INDONESIA WERE REPORTED AROUND $ 7000 PER DAY - VISTAAR
Wish You a Very Happy and Prosperous New year 2012.
COALspot.com - The last report by us was on 16th Dec 2011 and because of holidays this would ...
Sunday, 08 January 12
THARPAK CONSORTIUM FORMED TO DEVELOP MEGA ENERGY COMPLEX IN SINDH PROVINCE, PAKISTAN
Press Release: On January 5th, TharPak, LLC met with officials of the Embassy of Pakistan in Washington DC to introduce and announce the formation o ...
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- Indogreen Group - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- GAC Shipping (India) Pvt Ltd
- Directorate Of Revenue Intelligence - India
- Meralco Power Generation, Philippines
- Singapore Mercantile Exchange
- Bank of Tokyo Mitsubishi UFJ Ltd
- Price Waterhouse Coopers - Russia
- Vedanta Resources Plc - India
- Energy Link Ltd, New Zealand
- Marubeni Corporation - India
- Bulk Trading Sa - Switzerland
- International Coal Ventures Pvt Ltd - India
- Indian Oil Corporation Limited
- Bahari Cakrawala Sebuku - Indonesia
- Aboitiz Power Corporation - Philippines
- OPG Power Generation Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Orica Australia Pty. Ltd.
- Mercator Lines Limited - India
- Attock Cement Pakistan Limited
- Coal and Oil Company - UAE
- Sree Jayajothi Cements Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Toyota Tsusho Corporation, Japan
- Kalimantan Lumbung Energi - Indonesia
- Chettinad Cement Corporation Ltd - India
- IEA Clean Coal Centre - UK
- San Jose City I Power Corp, Philippines
- Parliament of New Zealand
- Renaissance Capital - South Africa
- Ceylon Electricity Board - Sri Lanka
- Commonwealth Bank - Australia
- Jaiprakash Power Ventures ltd
- PTC India Limited - India
- Lanco Infratech Ltd - India
- Miang Besar Coal Terminal - Indonesia
- The Treasury - Australian Government
- Jorong Barutama Greston.PT - Indonesia
- Borneo Indobara - Indonesia
- Orica Mining Services - Indonesia
- Bukit Makmur.PT - Indonesia
- Bhushan Steel Limited - India
- Aditya Birla Group - India
- Baramulti Group, Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Bharathi Cement Corporation - India
- Kideco Jaya Agung - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Parry Sugars Refinery, India
- IHS Mccloskey Coal Group - USA
- Kapuas Tunggal Persada - Indonesia
- Iligan Light & Power Inc, Philippines
- Tata Chemicals Ltd - India
- Ind-Barath Power Infra Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Medco Energi Mining Internasional
- Energy Development Corp, Philippines
- Cigading International Bulk Terminal - Indonesia
- Dalmia Cement Bharat India
- Indo Tambangraya Megah - Indonesia
- Ministry of Finance - Indonesia
- Jindal Steel & Power Ltd - India
- Karaikal Port Pvt Ltd - India
- Economic Council, Georgia
- Krishnapatnam Port Company Ltd. - India
- Independent Power Producers Association of India
- Ambuja Cements Ltd - India
- Manunggal Multi Energi - Indonesia
- Bangladesh Power Developement Board
- Larsen & Toubro Limited - India
- New Zealand Coal & Carbon
- Vijayanagar Sugar Pvt Ltd - India
- Cement Manufacturers Association - India
- Videocon Industries ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Latin American Coal - Colombia
- Siam City Cement PLC, Thailand
- Sindya Power Generating Company Private Ltd
- SMC Global Power, Philippines
- Formosa Plastics Group - Taiwan
- Global Business Power Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Xindia Steels Limited - India
- Metalloyd Limited - United Kingdom
- Samtan Co., Ltd - South Korea
- Kepco SPC Power Corporation, Philippines
- Coalindo Energy - Indonesia
- Madhucon Powers Ltd - India
- VISA Power Limited - India
- Carbofer General Trading SA - India
- Electricity Authority, New Zealand
- Simpson Spence & Young - Indonesia
- GMR Energy Limited - India
- The University of Queensland
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Rio Tinto Coal - Australia
- Romanian Commodities Exchange
- Mjunction Services Limited - India
- Interocean Group of Companies - India
- Eastern Coal Council - USA
- Alfred C Toepfer International GmbH - Germany
- Semirara Mining Corp, Philippines
- Sical Logistics Limited - India
- Binh Thuan Hamico - Vietnam
- Minerals Council of Australia
- Gujarat Mineral Development Corp Ltd - India
- Bhatia International Limited - India
- Australian Commodity Traders Exchange
- Intertek Mineral Services - Indonesia
- Indonesian Coal Mining Association
- Posco Energy - South Korea
- India Bulls Power Limited - India
- Merrill Lynch Commodities Europe
- TNB Fuel Sdn Bhd - Malaysia
- Global Green Power PLC Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Africa Commodities Group - South Africa
- Power Finance Corporation Ltd., India
- Gujarat Electricity Regulatory Commission - India
- ASAPP Information Group - India
- Planning Commission, India
- Mintek Dendrill Indonesia
- Holcim Trading Pte Ltd - Singapore
- Directorate General of MIneral and Coal - Indonesia
- PowerSource Philippines DevCo
- Anglo American - United Kingdom
- Riau Bara Harum - Indonesia
- Heidelberg Cement - Germany
- White Energy Company Limited
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Maheswari Brothers Coal Limited - India
- CNBM International Corporation - China
- Kartika Selabumi Mining - Indonesia
- Sarangani Energy Corporation, Philippines
- London Commodity Brokers - England
- Ministry of Mines - Canada
- SMG Consultants - Indonesia
- South Luzon Thermal Energy Corporation
- Siam City Cement - Thailand
- Therma Luzon, Inc, Philippines
- Sakthi Sugars Limited - India
- Semirara Mining and Power Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Bukit Baiduri Energy - Indonesia
- Petron Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Bayan Resources Tbk. - Indonesia
- Port Waratah Coal Services - Australia
- Indika Energy - Indonesia
- Edison Trading Spa - Italy
- Karbindo Abesyapradhi - Indoneisa
- Timah Investasi Mineral - Indoneisa
- Makarim & Taira - Indonesia
- Australian Coal Association
- Standard Chartered Bank - UAE
- Tamil Nadu electricity Board
- Bhoruka Overseas - Indonesia
- Malabar Cements Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Meenaskhi Energy Private Limited - India
- Indian Energy Exchange, India
- CIMB Investment Bank - Malaysia
- Electricity Generating Authority of Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Salva Resources Pvt Ltd - India
- Mercuria Energy - Indonesia
- Ministry of Transport, Egypt
- Thai Mozambique Logistica
- Essar Steel Hazira Ltd - India
- Coastal Gujarat Power Limited - India
- Central Electricity Authority - India
- Billiton Holdings Pty Ltd - Australia
- Oldendorff Carriers - Singapore
- PNOC Exploration Corporation - Philippines
- Grasim Industreis Ltd - India
- Kumho Petrochemical, South Korea
- Global Coal Blending Company Limited - Australia
- Star Paper Mills Limited - India
- Goldman Sachs - Singapore
- Straits Asia Resources Limited - Singapore
- Eastern Energy - Thailand
- TeaM Sual Corporation - Philippines
- Sinarmas Energy and Mining - Indonesia
- McConnell Dowell - Australia
- GVK Power & Infra Limited - India
- Chamber of Mines of South Africa
- Wood Mackenzie - Singapore
- Globalindo Alam Lestari - Indonesia
- Pendopo Energi Batubara - Indonesia
- Deloitte Consulting - India
- Central Java Power - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Maharashtra Electricity Regulatory Commission - India
- European Bulk Services B.V. - Netherlands
- Trasteel International SA, Italy
- Savvy Resources Ltd - HongKong
- LBH Netherlands Bv - Netherlands
- Vizag Seaport Private Limited - India
- MS Steel International - UAE
- Sojitz Corporation - Japan
- Kaltim Prima Coal - Indonesia
- Altura Mining Limited, Indonesia
- Georgia Ports Authority, United States
- Wilmar Investment Holdings
- ICICI Bank Limited - India
- Rashtriya Ispat Nigam Limited - India
- Banpu Public Company Limited - Thailand
- Agrawal Coal Company - India
- Uttam Galva Steels Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kobexindo Tractors - Indoneisa
- Thiess Contractors Indonesia
- Gujarat Sidhee Cement - India
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