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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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Monday, 12 December 11
DRY BULK MARKET LOOKING FOR BALANCE AS WE ENTER 2012 - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
During the past few months, freight rates for dry bulk carriers, especially Capesizes have increased significantly, providing ship owners with a muc ...
Sunday, 11 December 11
THE PANAMAX INDEX ENDED ON POSITIVE DIRECTION - VISTAAR
COALspot.com - The BDI and Cape index continued the upward trend this week also with BDI up by 3.00 pct closing at 1,922 points and Cape index up by ...
Saturday, 10 December 11
MAHAKAM RIVER RESUMES COAL TRANSPORTATION
COALspot.com - East Kalimantan local government has resumed limited coal barging through Mahakam River after two weeks of suspension following the c ...
Friday, 09 December 11
DRY BULK MARKET REBOUNDS ON HEALTHIER DEMAND OUTLOOK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market edged forward yesterday, at the highest rate of the past couple of weeks, as a result of stonger iron ore demand, backed by lowe ...
Thursday, 08 December 11
INDIA MAY SEE 41% ANNUAL GROWTH OF ITS COAL DEMAND DURING THE NEXT 5 YEARS - ICAP SHIPPING
India’s Ministry of Coal expects that India’s coal demand may face an annual 41% rise during the next 5 years, while its coal deficit is ...
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- Chettinad Cement Corporation Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Singapore Mercantile Exchange
- Vizag Seaport Private Limited - India
- Straits Asia Resources Limited - Singapore
- Georgia Ports Authority, United States
- Ministry of Finance - Indonesia
- Thiess Contractors Indonesia
- Eastern Energy - Thailand
- Bangladesh Power Developement Board
- Mjunction Services Limited - India
- White Energy Company Limited
- Meenaskhi Energy Private Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GVK Power & Infra Limited - India
- Sinarmas Energy and Mining - Indonesia
- GAC Shipping (India) Pvt Ltd
- Wood Mackenzie - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- PowerSource Philippines DevCo
- PetroVietnam Power Coal Import and Supply Company
- GMR Energy Limited - India
- Gujarat Electricity Regulatory Commission - India
- Anglo American - United Kingdom
- Kepco SPC Power Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Bukit Makmur.PT - Indonesia
- Parry Sugars Refinery, India
- Simpson Spence & Young - Indonesia
- Star Paper Mills Limited - India
- Aboitiz Power Corporation - Philippines
- CNBM International Corporation - China
- Agrawal Coal Company - India
- Eastern Coal Council - USA
- TNB Fuel Sdn Bhd - Malaysia
- Africa Commodities Group - South Africa
- South Luzon Thermal Energy Corporation
- Maheswari Brothers Coal Limited - India
- Independent Power Producers Association of India
- Gujarat Sidhee Cement - India
- Bukit Asam (Persero) Tbk - Indonesia
- Sindya Power Generating Company Private Ltd
- Global Green Power PLC Corporation, Philippines
- Petron Corporation, Philippines
- SMC Global Power, Philippines
- Rashtriya Ispat Nigam Limited - India
- VISA Power Limited - India
- Bhushan Steel Limited - India
- Manunggal Multi Energi - Indonesia
- Uttam Galva Steels Limited - India
- Malabar Cements Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- SN Aboitiz Power Inc, Philippines
- Riau Bara Harum - Indonesia
- Aditya Birla Group - India
- Tamil Nadu electricity Board
- International Coal Ventures Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Sojitz Corporation - Japan
- Bayan Resources Tbk. - Indonesia
- Cement Manufacturers Association - India
- Sical Logistics Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Salva Resources Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Ambuja Cements Ltd - India
- ASAPP Information Group - India
- AsiaOL BioFuels Corp., Philippines
- Petrochimia International Co. Ltd.- Taiwan
- India Bulls Power Limited - India
- Indian Energy Exchange, India
- Globalindo Alam Lestari - Indonesia
- Jaiprakash Power Ventures ltd
- Energy Development Corp, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Kaltim Prima Coal - Indonesia
- Intertek Mineral Services - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Ministry of Transport, Egypt
- Videocon Industries ltd - India
- London Commodity Brokers - England
- Alfred C Toepfer International GmbH - Germany
- Indogreen Group - Indonesia
- Wilmar Investment Holdings
- Toyota Tsusho Corporation, Japan
- Marubeni Corporation - India
- Goldman Sachs - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Deloitte Consulting - India
- Orica Australia Pty. Ltd.
- LBH Netherlands Bv - Netherlands
- Neyveli Lignite Corporation Ltd, - India
- The University of Queensland
- Coastal Gujarat Power Limited - India
- Indo Tambangraya Megah - Indonesia
- Renaissance Capital - South Africa
- Trasteel International SA, Italy
- Indonesian Coal Mining Association
- Global Business Power Corporation, Philippines
- Indika Energy - Indonesia
- Sakthi Sugars Limited - India
- Lanco Infratech Ltd - India
- Port Waratah Coal Services - Australia
- Australian Coal Association
- Kohat Cement Company Ltd. - Pakistan
- Cigading International Bulk Terminal - Indonesia
- Baramulti Group, Indonesia
- Directorate Of Revenue Intelligence - India
- Bharathi Cement Corporation - India
- Jindal Steel & Power Ltd - India
- ICICI Bank Limited - India
- Banpu Public Company Limited - Thailand
- Leighton Contractors Pty Ltd - Australia
- Posco Energy - South Korea
- Minerals Council of Australia
- Makarim & Taira - Indonesia
- Mercator Lines Limited - India
- Economic Council, Georgia
- CIMB Investment Bank - Malaysia
- Grasim Industreis Ltd - India
- Chamber of Mines of South Africa
- Barasentosa Lestari - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Larsen & Toubro Limited - India
- Thai Mozambique Logistica
- GN Power Mariveles Coal Plant, Philippines
- Standard Chartered Bank - UAE
- Attock Cement Pakistan Limited
- Mercuria Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Carbofer General Trading SA - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Jorong Barutama Greston.PT - Indonesia
- New Zealand Coal & Carbon
- Central Java Power - Indonesia
- Kobexindo Tractors - Indoneisa
- Vedanta Resources Plc - India
- OPG Power Generation Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- TeaM Sual Corporation - Philippines
- Orica Mining Services - Indonesia
- Bukit Baiduri Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Kumho Petrochemical, South Korea
- Commonwealth Bank - Australia
- Bhatia International Limited - India
- IHS Mccloskey Coal Group - USA
- Altura Mining Limited, Indonesia
- Meralco Power Generation, Philippines
- Edison Trading Spa - Italy
- Madhucon Powers Ltd - India
- Central Electricity Authority - India
- Xindia Steels Limited - India
- Indian Oil Corporation Limited
- Billiton Holdings Pty Ltd - Australia
- Ceylon Electricity Board - Sri Lanka
- Bulk Trading Sa - Switzerland
- Coalindo Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Coal and Oil Company - UAE
- Semirara Mining Corp, Philippines
- Miang Besar Coal Terminal - Indonesia
- Power Finance Corporation Ltd., India
- Metalloyd Limited - United Kingdom
- Medco Energi Mining Internasional
- Mintek Dendrill Indonesia
- Siam City Cement - Thailand
- Semirara Mining and Power Corporation, Philippines
- Heidelberg Cement - Germany
- Binh Thuan Hamico - Vietnam
- McConnell Dowell - Australia
- IEA Clean Coal Centre - UK
- Romanian Commodities Exchange
- Essar Steel Hazira Ltd - India
- Sarangani Energy Corporation, Philippines
- The State Trading Corporation of India Ltd
- Therma Luzon, Inc, Philippines
- The Treasury - Australian Government
- Krishnapatnam Port Company Ltd. - India
- Australian Commodity Traders Exchange
- Energy Link Ltd, New Zealand
- Sree Jayajothi Cements Limited - India
- Karaikal Port Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Ministry of Mines - Canada
- Kideco Jaya Agung - Indonesia
- Borneo Indobara - Indonesia
- Bhoruka Overseas - Indonesia
- Timah Investasi Mineral - Indoneisa
- Tata Chemicals Ltd - India
- Electricity Generating Authority of Thailand
- Siam City Cement PLC, Thailand
- Price Waterhouse Coopers - Russia
- PNOC Exploration Corporation - Philippines
- Latin American Coal - Colombia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kartika Selabumi Mining - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Electricity Authority, New Zealand
- Antam Resourcindo - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PTC India Limited - India
- Interocean Group of Companies - India
- SMG Consultants - Indonesia
- Rio Tinto Coal - Australia
- MS Steel International - UAE
- Planning Commission, India
- Savvy Resources Ltd - HongKong
- Dalmia Cement Bharat India
- Pendopo Energi Batubara - Indonesia
- Parliament of New Zealand
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