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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, 27 December 11
MINERS MAKE CASE FOR RESUMING CONTRACT NEGOTIATIONS - THE JAKARTA POST
The Jakarta Post reported that, problems with the renegotiation of mining contracts in the country are far from over, as agreements on several cruci ...
Tuesday, 27 December 11
COAL SHIPMENT OF TIANJIN PORT REACHED 6.72 MLN TONNES IN NOVEMBER - STEEL HOME / HELLENIC SHIPPING
Tianjin port shipped 6.72 million tonnes of coal in November, decreasing 600,000 tonnes versus 7.32 million tonnes in October, while up 21.09% or 1. ...
Tuesday, 27 December 11
NEW CLAUSE PUBLISHED FOR SLOW STEAMING - BIMCO
Many owners and operators faced with high bunker prices are considering implementing slow steaming regimes to save fuel and to assist with capacity ...
Monday, 26 December 11
NEW EXPORT TAX PLAN GREETED WITH PRAISE AND CRITICISM - THE JAKARTA POST
The Jakarta Post, one of the Indonesia's leading english news paper reported that, both praise and criticism showered the government’s plan t ...
Sunday, 25 December 11
THERMAL COAL PRICES GAINED UP TO 4.32 PERCENT
COALspot.com - globalCOAL index gained 4.32 percent to US$106.36 per ton in RBCT, benchmark for South Asia and West Europe markets, for the week end ...
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- Anglo American - United Kingdom
- Marubeni Corporation - India
- Xindia Steels Limited - India
- Iligan Light & Power Inc, Philippines
- Mintek Dendrill Indonesia
- Sindya Power Generating Company Private Ltd
- Bukit Makmur.PT - Indonesia
- Chettinad Cement Corporation Ltd - India
- Eastern Energy - Thailand
- White Energy Company Limited
- The State Trading Corporation of India Ltd
- Mercator Lines Limited - India
- Commonwealth Bank - Australia
- Bayan Resources Tbk. - Indonesia
- The University of Queensland
- Tata Chemicals Ltd - India
- LBH Netherlands Bv - Netherlands
- Orica Australia Pty. Ltd.
- CIMB Investment Bank - Malaysia
- Videocon Industries ltd - India
- Simpson Spence & Young - Indonesia
- Posco Energy - South Korea
- Semirara Mining and Power Corporation, Philippines
- Parry Sugars Refinery, India
- Gujarat Sidhee Cement - India
- Altura Mining Limited, Indonesia
- Ind-Barath Power Infra Limited - India
- Georgia Ports Authority, United States
- Mercuria Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Thai Mozambique Logistica
- Kapuas Tunggal Persada - Indonesia
- Thiess Contractors Indonesia
- Tamil Nadu electricity Board
- Asmin Koalindo Tuhup - Indonesia
- Gujarat Electricity Regulatory Commission - India
- PetroVietnam Power Coal Import and Supply Company
- Gujarat Mineral Development Corp Ltd - India
- Sree Jayajothi Cements Limited - India
- Ceylon Electricity Board - Sri Lanka
- Electricity Authority, New Zealand
- International Coal Ventures Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- India Bulls Power Limited - India
- Ministry of Finance - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Carbofer General Trading SA - India
- Coalindo Energy - Indonesia
- Chamber of Mines of South Africa
- Maheswari Brothers Coal Limited - India
- Kaltim Prima Coal - Indonesia
- MS Steel International - UAE
- Energy Link Ltd, New Zealand
- Sakthi Sugars Limited - India
- Wood Mackenzie - Singapore
- Indonesian Coal Mining Association
- PNOC Exploration Corporation - Philippines
- Riau Bara Harum - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Salva Resources Pvt Ltd - India
- Bangladesh Power Developement Board
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Heidelberg Cement - Germany
- Central Java Power - Indonesia
- CNBM International Corporation - China
- Indian Oil Corporation Limited
- Samtan Co., Ltd - South Korea
- Toyota Tsusho Corporation, Japan
- Deloitte Consulting - India
- Krishnapatnam Port Company Ltd. - India
- Kumho Petrochemical, South Korea
- Borneo Indobara - Indonesia
- Bhatia International Limited - India
- Meralco Power Generation, Philippines
- Malabar Cements Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Ministry of Mines - Canada
- The Treasury - Australian Government
- ICICI Bank Limited - India
- Coastal Gujarat Power Limited - India
- Standard Chartered Bank - UAE
- Global Coal Blending Company Limited - Australia
- Binh Thuan Hamico - Vietnam
- Maharashtra Electricity Regulatory Commission - India
- Latin American Coal - Colombia
- Medco Energi Mining Internasional
- SN Aboitiz Power Inc, Philippines
- Meenaskhi Energy Private Limited - India
- Edison Trading Spa - Italy
- Merrill Lynch Commodities Europe
- Petrochimia International Co. Ltd.- Taiwan
- New Zealand Coal & Carbon
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Petron Corporation, Philippines
- Siam City Cement PLC, Thailand
- Interocean Group of Companies - India
- Siam City Cement - Thailand
- IHS Mccloskey Coal Group - USA
- Romanian Commodities Exchange
- Economic Council, Georgia
- Singapore Mercantile Exchange
- Attock Cement Pakistan Limited
- Africa Commodities Group - South Africa
- AsiaOL BioFuels Corp., Philippines
- Kobexindo Tractors - Indoneisa
- Uttam Galva Steels Limited - India
- Essar Steel Hazira Ltd - India
- Manunggal Multi Energi - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Vizag Seaport Private Limited - India
- Vedanta Resources Plc - India
- Goldman Sachs - Singapore
- Price Waterhouse Coopers - Russia
- TNB Fuel Sdn Bhd - Malaysia
- Karbindo Abesyapradhi - Indoneisa
- Rio Tinto Coal - Australia
- Jindal Steel & Power Ltd - India
- GAC Shipping (India) Pvt Ltd
- Directorate Of Revenue Intelligence - India
- European Bulk Services B.V. - Netherlands
- Kohat Cement Company Ltd. - Pakistan
- Madhucon Powers Ltd - India
- PTC India Limited - India
- San Jose City I Power Corp, Philippines
- OPG Power Generation Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Aditya Birla Group - India
- London Commodity Brokers - England
- Central Electricity Authority - India
- GVK Power & Infra Limited - India
- Timah Investasi Mineral - Indoneisa
- Eastern Coal Council - USA
- Kartika Selabumi Mining - Indonesia
- Renaissance Capital - South Africa
- Makarim & Taira - Indonesia
- Australian Coal Association
- Larsen & Toubro Limited - India
- Agrawal Coal Company - India
- Star Paper Mills Limited - India
- Baramulti Group, Indonesia
- Minerals Council of Australia
- Cigading International Bulk Terminal - Indonesia
- Cement Manufacturers Association - India
- Power Finance Corporation Ltd., India
- Kideco Jaya Agung - Indonesia
- Bharathi Cement Corporation - India
- Pipit Mutiara Jaya. PT, Indonesia
- Port Waratah Coal Services - Australia
- Energy Development Corp, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Globalindo Alam Lestari - Indonesia
- Ambuja Cements Ltd - India
- Indian Energy Exchange, India
- Planning Commission, India
- TeaM Sual Corporation - Philippines
- Savvy Resources Ltd - HongKong
- PowerSource Philippines DevCo
- GMR Energy Limited - India
- Miang Besar Coal Terminal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Formosa Plastics Group - Taiwan
- Bhoruka Overseas - Indonesia
- Bhushan Steel Limited - India
- Semirara Mining Corp, Philippines
- Sojitz Corporation - Japan
- Jaiprakash Power Ventures ltd
- GN Power Mariveles Coal Plant, Philippines
- Therma Luzon, Inc, Philippines
- Barasentosa Lestari - Indonesia
- Wilmar Investment Holdings
- Metalloyd Limited - United Kingdom
- Bank of Tokyo Mitsubishi UFJ Ltd
- SMG Consultants - Indonesia
- Australian Commodity Traders Exchange
- Trasteel International SA, Italy
- Orica Mining Services - Indonesia
- Bulk Trading Sa - Switzerland
- Dalmia Cement Bharat India
- IEA Clean Coal Centre - UK
- Intertek Mineral Services - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Sical Logistics Limited - India
- Ministry of Transport, Egypt
- Indo Tambangraya Megah - Indonesia
- Oldendorff Carriers - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Alfred C Toepfer International GmbH - Germany
- Independent Power Producers Association of India
- ASAPP Information Group - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- McConnell Dowell - Australia
- Mjunction Services Limited - India
- Grasim Industreis Ltd - India
- Parliament of New Zealand
- Indogreen Group - Indonesia
- VISA Power Limited - India
- South Luzon Thermal Energy Corporation
- Electricity Generating Authority of Thailand
- Indika Energy - Indonesia
- Banpu Public Company Limited - Thailand
- SMC Global Power, Philippines
- Straits Asia Resources Limited - Singapore
- Bukit Baiduri Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Antam Resourcindo - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Karaikal Port Pvt Ltd - India
- Coal and Oil Company - UAE
- Holcim Trading Pte Ltd - Singapore
- Lanco Infratech Ltd - India
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