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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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Thursday, 22 December 11
DRY BULK MARKET KEEPS LOSING TRACTION AHEAD OF HOLIDAY SEASON - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market kept retreating in the middle of the week, as charterers seem to be looking towards the holiday season and the start of the new ye ...
Tuesday, 20 December 11
THE COAL IMPORT INTO CHINA WAS QUIETER AS COAL STOCKS WERE AT HIGH LEVELS - BRS
The BDI ended the week at 1888 points (-1.8%), the BCI corrected to 3572 (-3.4%), the BPI was up at 1,775 (+3.6%), the BSI dropped to 1193 (-3.0%) a ...
Tuesday, 20 December 11
INDIA IMPORTS 66.41 PERCENT MORE COAL FROM INDONESIA LAST MONTH - SOURCES
COALspot.com: Indonesia, the world largest coal exporter, shipped 33.476* mln mt of coal in November, which is slightly higher than its Octobe ...
Monday, 19 December 11
KOPEX COMMITS ADDITIONAL ONE MILLION DOLLAR FOR PT TRANSCOAL MINERGY
COALspot.com - Mining contractor Kopex has agreed to extend a further US$1 million to finance the remainder of the expanded drill program at PT Tran ...
Monday, 19 December 11
PLN WILL NO LONGER BUY COAL FROM TRADERS
COALspot.com - Indonesia's state electricity company PT Perusahaan Listrik Negara will no longer allow traders to become their suppliers, said, its ...
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- Singapore Mercantile Exchange
- Uttam Galva Steels Limited - India
- Formosa Plastics Group - Taiwan
- Indika Energy - Indonesia
- Agrawal Coal Company - India
- Edison Trading Spa - Italy
- Barasentosa Lestari - Indonesia
- Electricity Authority, New Zealand
- Borneo Indobara - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Baramulti Group, Indonesia
- Maheswari Brothers Coal Limited - India
- Kobexindo Tractors - Indoneisa
- Indo Tambangraya Megah - Indonesia
- Vedanta Resources Plc - India
- Independent Power Producers Association of India
- Energy Link Ltd, New Zealand
- India Bulls Power Limited - India
- Medco Energi Mining Internasional
- Jaiprakash Power Ventures ltd
- Mjunction Services Limited - India
- Kideco Jaya Agung - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Bhushan Steel Limited - India
- Ministry of Finance - Indonesia
- Kartika Selabumi Mining - Indonesia
- Petron Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Parliament of New Zealand
- PowerSource Philippines DevCo
- Coal and Oil Company - UAE
- South Luzon Thermal Energy Corporation
- Karbindo Abesyapradhi - Indoneisa
- GVK Power & Infra Limited - India
- Australian Commodity Traders Exchange
- Ministry of Transport, Egypt
- Kaltim Prima Coal - Indonesia
- The University of Queensland
- Central Java Power - Indonesia
- Sakthi Sugars Limited - India
- Global Coal Blending Company Limited - Australia
- Alfred C Toepfer International GmbH - Germany
- Eastern Coal Council - USA
- The Treasury - Australian Government
- Renaissance Capital - South Africa
- Coalindo Energy - Indonesia
- Grasim Industreis Ltd - India
- Indonesian Coal Mining Association
- Chettinad Cement Corporation Ltd - India
- Karaikal Port Pvt Ltd - India
- SMC Global Power, Philippines
- Chamber of Mines of South Africa
- Banpu Public Company Limited - Thailand
- Antam Resourcindo - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Sindya Power Generating Company Private Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bulk Trading Sa - Switzerland
- Bukit Baiduri Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- The State Trading Corporation of India Ltd
- Straits Asia Resources Limited - Singapore
- Ceylon Electricity Board - Sri Lanka
- Globalindo Alam Lestari - Indonesia
- Videocon Industries ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Anglo American - United Kingdom
- Xindia Steels Limited - India
- Sree Jayajothi Cements Limited - India
- Australian Coal Association
- Interocean Group of Companies - India
- Port Waratah Coal Services - Australia
- Salva Resources Pvt Ltd - India
- Mintek Dendrill Indonesia
- Kapuas Tunggal Persada - Indonesia
- Bayan Resources Tbk. - Indonesia
- Power Finance Corporation Ltd., India
- Larsen & Toubro Limited - India
- VISA Power Limited - India
- International Coal Ventures Pvt Ltd - India
- Thai Mozambique Logistica
- PTC India Limited - India
- Toyota Tsusho Corporation, Japan
- Cement Manufacturers Association - India
- IEA Clean Coal Centre - UK
- Sical Logistics Limited - India
- Latin American Coal - Colombia
- Siam City Cement - Thailand
- Kumho Petrochemical, South Korea
- Malabar Cements Ltd - India
- Sojitz Corporation - Japan
- Savvy Resources Ltd - HongKong
- Therma Luzon, Inc, Philippines
- Deloitte Consulting - India
- Marubeni Corporation - India
- Lanco Infratech Ltd - India
- Merrill Lynch Commodities Europe
- Central Electricity Authority - India
- Bhatia International Limited - India
- Orica Mining Services - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Georgia Ports Authority, United States
- Directorate General of MIneral and Coal - Indonesia
- Price Waterhouse Coopers - Russia
- Gujarat Sidhee Cement - India
- European Bulk Services B.V. - Netherlands
- Siam City Cement PLC, Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Economic Council, Georgia
- Bukit Makmur.PT - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Meenaskhi Energy Private Limited - India
- Makarim & Taira - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Bharathi Cement Corporation - India
- Electricity Generating Authority of Thailand
- Krishnapatnam Port Company Ltd. - India
- McConnell Dowell - Australia
- Metalloyd Limited - United Kingdom
- Carbofer General Trading SA - India
- OPG Power Generation Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Aditya Birla Group - India
- Indian Oil Corporation Limited
- Manunggal Multi Energi - Indonesia
- GMR Energy Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Aboitiz Power Corporation - Philippines
- CNBM International Corporation - China
- Mercator Lines Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Indogreen Group - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Essar Steel Hazira Ltd - India
- Minerals Council of Australia
- Semirara Mining Corp, Philippines
- Ministry of Mines - Canada
- Dalmia Cement Bharat India
- Bhoruka Overseas - Indonesia
- Oldendorff Carriers - Singapore
- Orica Australia Pty. Ltd.
- Meralco Power Generation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Goldman Sachs - Singapore
- AsiaOL BioFuels Corp., Philippines
- Directorate Of Revenue Intelligence - India
- Riau Bara Harum - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Attock Cement Pakistan Limited
- Wood Mackenzie - Singapore
- Eastern Energy - Thailand
- SN Aboitiz Power Inc, Philippines
- Tata Chemicals Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Thiess Contractors Indonesia
- Commonwealth Bank - Australia
- Parry Sugars Refinery, India
- Indian Energy Exchange, India
- PNOC Exploration Corporation - Philippines
- New Zealand Coal & Carbon
- Africa Commodities Group - South Africa
- Bahari Cakrawala Sebuku - Indonesia
- SMG Consultants - Indonesia
- CIMB Investment Bank - Malaysia
- Gujarat Electricity Regulatory Commission - India
- Wilmar Investment Holdings
- TNB Fuel Sdn Bhd - Malaysia
- Simpson Spence & Young - Indonesia
- GAC Shipping (India) Pvt Ltd
- Pendopo Energi Batubara - Indonesia
- ICICI Bank Limited - India
- Timah Investasi Mineral - Indoneisa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- MS Steel International - UAE
- Global Green Power PLC Corporation, Philippines
- Bangladesh Power Developement Board
- Posco Energy - South Korea
- Energy Development Corp, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Standard Chartered Bank - UAE
- Romanian Commodities Exchange
- IHS Mccloskey Coal Group - USA
- Binh Thuan Hamico - Vietnam
- Planning Commission, India
- Mercuria Energy - Indonesia
- Altura Mining Limited, Indonesia
- Ambuja Cements Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Iligan Light & Power Inc, Philippines
- Rio Tinto Coal - Australia
- San Jose City I Power Corp, Philippines
- Holcim Trading Pte Ltd - Singapore
- Global Business Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Madhucon Powers Ltd - India
- Rashtriya Ispat Nigam Limited - India
- TeaM Sual Corporation - Philippines
- Maharashtra Electricity Regulatory Commission - India
- Ind-Barath Power Infra Limited - India
- Heidelberg Cement - Germany
- White Energy Company Limited
- Coastal Gujarat Power Limited - India
- Samtan Co., Ltd - South Korea
- Pipit Mutiara Jaya. PT, Indonesia
- London Commodity Brokers - England
- Trasteel International SA, Italy
- Kohat Cement Company Ltd. - Pakistan
- ASAPP Information Group - India
- Vizag Seaport Private Limited - India
- Star Paper Mills Limited - India
- Sinarmas Energy and Mining - Indonesia
- Tamil Nadu electricity Board
- Intertek Mineral Services - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
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