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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, 08 December 11
HAREDA KRIDA GETS CONTRACT FROM BAYAN - INSIDER STORIES
Insider Stories reported that, coal miner PT Bayan Resources Tbk (BYAN), through its subsidiary dubbed PT Gunungbayan Pratamacoal (GPB), has signed ...
Thursday, 08 December 11
CAPESIZES LIFT DRY BULK MARKET - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Capesize vessels yesterday helped lift the dry bulk market which had been falling since the start of the week on lower cargo demand. As a result the ...
Wednesday, 07 December 11
ABM INVESTAMA EYES RP6.3 TRIO REVENUE - INSIDER STORIES
Insider Stories reported that, an energy integrated company PT ABM Investama Tbk is eyeing a 1.5 folds increase in revenue this year from Rp4. ...
Tuesday, 06 December 11
DRY BULK MARKET ENDS RALLY, STARTS WEEK WITH FALL - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
After a series of increases which saw the dry bulk market’s benchmark, the Baltic Dry Index (BDI) increasing close to 1,900 points and rates o ...
Monday, 05 December 11
THE DECEMBER HBA FELL 11% FROM ITS PEAK AT US$127.05 PER TON IN FEBRUARY 2011
COALspot.com - Ministry of Energy and Mineral Resources of Indonesia has sets the December 2011 coal reference price at US$ 112.67 per ton US$ 3.98 ...
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- European Bulk Services B.V. - Netherlands
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Indika Energy - Indonesia
- Meralco Power Generation, Philippines
- Eastern Energy - Thailand
- The Treasury - Australian Government
- Riau Bara Harum - Indonesia
- Africa Commodities Group - South Africa
- Energy Link Ltd, New Zealand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Maheswari Brothers Coal Limited - India
- Binh Thuan Hamico - Vietnam
- Planning Commission, India
- Thiess Contractors Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Price Waterhouse Coopers - Russia
- Star Paper Mills Limited - India
- Trasteel International SA, Italy
- CNBM International Corporation - China
- MS Steel International - UAE
- International Coal Ventures Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- South Luzon Thermal Energy Corporation
- Global Green Power PLC Corporation, Philippines
- IEA Clean Coal Centre - UK
- Karbindo Abesyapradhi - Indoneisa
- Orica Mining Services - Indonesia
- Straits Asia Resources Limited - Singapore
- Bhatia International Limited - India
- Xindia Steels Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Antam Resourcindo - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Borneo Indobara - Indonesia
- Sarangani Energy Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Ambuja Cements Ltd - India
- Coalindo Energy - Indonesia
- Dalmia Cement Bharat India
- Energy Development Corp, Philippines
- SN Aboitiz Power Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Cement Manufacturers Association - India
- LBH Netherlands Bv - Netherlands
- Interocean Group of Companies - India
- Romanian Commodities Exchange
- White Energy Company Limited
- Aboitiz Power Corporation - Philippines
- Larsen & Toubro Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Wood Mackenzie - Singapore
- IHS Mccloskey Coal Group - USA
- Georgia Ports Authority, United States
- Coastal Gujarat Power Limited - India
- Heidelberg Cement - Germany
- Intertek Mineral Services - Indonesia
- New Zealand Coal & Carbon
- Banpu Public Company Limited - Thailand
- Bulk Trading Sa - Switzerland
- GN Power Mariveles Coal Plant, Philippines
- Kideco Jaya Agung - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Chamber of Mines of South Africa
- PetroVietnam Power Coal Import and Supply Company
- Mintek Dendrill Indonesia
- Global Coal Blending Company Limited - Australia
- Goldman Sachs - Singapore
- Bayan Resources Tbk. - Indonesia
- Bharathi Cement Corporation - India
- GMR Energy Limited - India
- Carbofer General Trading SA - India
- San Jose City I Power Corp, Philippines
- Anglo American - United Kingdom
- Formosa Plastics Group - Taiwan
- Medco Energi Mining Internasional
- Karaikal Port Pvt Ltd - India
- Tamil Nadu electricity Board
- PNOC Exploration Corporation - Philippines
- Sree Jayajothi Cements Limited - India
- Bukit Baiduri Energy - Indonesia
- Sical Logistics Limited - India
- Indo Tambangraya Megah - Indonesia
- Malabar Cements Ltd - India
- Meenaskhi Energy Private Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Neyveli Lignite Corporation Ltd, - India
- Renaissance Capital - South Africa
- Deloitte Consulting - India
- Semirara Mining Corp, Philippines
- Savvy Resources Ltd - HongKong
- Oldendorff Carriers - Singapore
- Attock Cement Pakistan Limited
- Wilmar Investment Holdings
- Metalloyd Limited - United Kingdom
- Aditya Birla Group - India
- Petron Corporation, Philippines
- Vedanta Resources Plc - India
- Mercuria Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Leighton Contractors Pty Ltd - Australia
- ICICI Bank Limited - India
- Mercator Lines Limited - India
- PTC India Limited - India
- Krishnapatnam Port Company Ltd. - India
- Indonesian Coal Mining Association
- Offshore Bulk Terminal Pte Ltd, Singapore
- Manunggal Multi Energi - Indonesia
- Bangladesh Power Developement Board
- Indogreen Group - Indonesia
- Commonwealth Bank - Australia
- TeaM Sual Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- Coal and Oil Company - UAE
- Bukit Asam (Persero) Tbk - Indonesia
- Iligan Light & Power Inc, Philippines
- Ministry of Finance - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Kumho Petrochemical, South Korea
- Gujarat Electricity Regulatory Commission - India
- Australian Commodity Traders Exchange
- Kapuas Tunggal Persada - Indonesia
- Ministry of Mines - Canada
- Uttam Galva Steels Limited - India
- Latin American Coal - Colombia
- Bahari Cakrawala Sebuku - Indonesia
- Salva Resources Pvt Ltd - India
- Videocon Industries ltd - India
- Jindal Steel & Power Ltd - India
- Barasentosa Lestari - Indonesia
- The University of Queensland
- SMG Consultants - Indonesia
- Port Waratah Coal Services - Australia
- Vizag Seaport Private Limited - India
- Marubeni Corporation - India
- Lanco Infratech Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Pendopo Energi Batubara - Indonesia
- McConnell Dowell - Australia
- Posco Energy - South Korea
- Economic Council, Georgia
- Kartika Selabumi Mining - Indonesia
- VISA Power Limited - India
- Altura Mining Limited, Indonesia
- Electricity Generating Authority of Thailand
- Bhushan Steel Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Edison Trading Spa - Italy
- Central Electricity Authority - India
- Bukit Makmur.PT - Indonesia
- Central Java Power - Indonesia
- Ind-Barath Power Infra Limited - India
- GAC Shipping (India) Pvt Ltd
- The State Trading Corporation of India Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Rio Tinto Coal - Australia
- Eastern Coal Council - USA
- Ceylon Electricity Board - Sri Lanka
- Orica Australia Pty. Ltd.
- Siam City Cement - Thailand
- Simpson Spence & Young - Indonesia
- Gujarat Sidhee Cement - India
- Madhucon Powers Ltd - India
- Standard Chartered Bank - UAE
- Australian Coal Association
- Samtan Co., Ltd - South Korea
- London Commodity Brokers - England
- Mjunction Services Limited - India
- Minerals Council of Australia
- Tata Chemicals Ltd - India
- OPG Power Generation Pvt Ltd - India
- GVK Power & Infra Limited - India
- Directorate Of Revenue Intelligence - India
- Billiton Holdings Pty Ltd - Australia
- Jorong Barutama Greston.PT - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- SMC Global Power, Philippines
- Parry Sugars Refinery, India
- Bhoruka Overseas - Indonesia
- Globalindo Alam Lestari - Indonesia
- ASAPP Information Group - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Electricity Authority, New Zealand
- Agrawal Coal Company - India
- Indian Energy Exchange, India
- Independent Power Producers Association of India
- India Bulls Power Limited - India
- Holcim Trading Pte Ltd - Singapore
- Merrill Lynch Commodities Europe
- Kaltim Prima Coal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Grasim Industreis Ltd - India
- Singapore Mercantile Exchange
- Kohat Cement Company Ltd. - Pakistan
- Ministry of Transport, Egypt
- Chettinad Cement Corporation Ltd - India
- Indian Oil Corporation Limited
- Parliament of New Zealand
- Makarim & Taira - Indonesia
- Baramulti Group, Indonesia
- Jaiprakash Power Ventures ltd
- Sindya Power Generating Company Private Ltd
- Siam City Cement PLC, Thailand
- Global Business Power Corporation, Philippines
- Sakthi Sugars Limited - India
- PowerSource Philippines DevCo
- Cigading International Bulk Terminal - Indonesia
- Sojitz Corporation - Japan
- Toyota Tsusho Corporation, Japan
- Kalimantan Lumbung Energi - Indonesia
- CIMB Investment Bank - Malaysia
- Essar Steel Hazira Ltd - India
- Thai Mozambique Logistica
- Power Finance Corporation Ltd., India
- Miang Besar Coal Terminal - Indonesia
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