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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, 05 December 11
SGX LAUNCHED IHS MCCLOSKEY/XINHUA INFOLINK OTC CFR SOUTH CHINA COAL CONTRACT TODAY
COALspot.com - In order to meet the demand of the coal industry for an effective coal hedging tool with counterparty credit risk mitigation facility ...
Monday, 05 December 11
DRY BULK RATES LOOKING TO EXTEND GAINS THIS WEEK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Capesize dry bulk carrier owners have had a great week, with rates rising for six straight sessions (including the end of the week before that). As ...
Sunday, 04 December 11
SUPRAMAX TRIPS VIA INDONESIA WERE REPORTED AROUND $ 7500 - 8000 PD
COALspot.com - The BDI and Cape index recovered this week. The BDI was up by 3.26 pct and Cape index saw a big jump and closed at 3409 points (up by ...
Saturday, 03 December 11
BORNEO TO SPEND US$600 MIO CAPEX - INSIDER STORIES
Insider Stories reported that, Coking coal miner PT Borneo Lumbung Energi & Metal Tbk (BORN) plans to spend US$600 million capital expenditure ( ...
Friday, 02 December 11
DRY BULK CARRIERS BACK IN THE SPOTLIGHT AS MARKET SPEEDS UP - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With the tanker and container markets suffering dearly, it seems that the tide has once again turned in favor of the dry bulk carriers, despite over ...
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- Jindal Steel & Power Ltd - India
- Altura Mining Limited, Indonesia
- Bukit Makmur.PT - Indonesia
- Grasim Industreis Ltd - India
- Videocon Industries ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Globalindo Alam Lestari - Indonesia
- Straits Asia Resources Limited - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Krishnapatnam Port Company Ltd. - India
- Sojitz Corporation - Japan
- Port Waratah Coal Services - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Eastern Energy - Thailand
- Posco Energy - South Korea
- Interocean Group of Companies - India
- ICICI Bank Limited - India
- Singapore Mercantile Exchange
- Kartika Selabumi Mining - Indonesia
- Mercuria Energy - Indonesia
- Coal and Oil Company - UAE
- Edison Trading Spa - Italy
- Directorate General of MIneral and Coal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Aditya Birla Group - India
- Indian Energy Exchange, India
- Intertek Mineral Services - Indonesia
- The State Trading Corporation of India Ltd
- Parliament of New Zealand
- Savvy Resources Ltd - HongKong
- Medco Energi Mining Internasional
- Indo Tambangraya Megah - Indonesia
- GVK Power & Infra Limited - India
- Semirara Mining and Power Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Romanian Commodities Exchange
- Banpu Public Company Limited - Thailand
- GMR Energy Limited - India
- Petron Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Karaikal Port Pvt Ltd - India
- Commonwealth Bank - Australia
- Metalloyd Limited - United Kingdom
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Price Waterhouse Coopers - Russia
- Kapuas Tunggal Persada - Indonesia
- Bhoruka Overseas - Indonesia
- Aboitiz Power Corporation - Philippines
- Semirara Mining Corp, Philippines
- Renaissance Capital - South Africa
- McConnell Dowell - Australia
- Bhushan Steel Limited - India
- Merrill Lynch Commodities Europe
- Cement Manufacturers Association - India
- Manunggal Multi Energi - Indonesia
- ASAPP Information Group - India
- Georgia Ports Authority, United States
- India Bulls Power Limited - India
- Minerals Council of Australia
- Meenaskhi Energy Private Limited - India
- Antam Resourcindo - Indonesia
- Indika Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- Power Finance Corporation Ltd., India
- Wood Mackenzie - Singapore
- Makarim & Taira - Indonesia
- AsiaOL BioFuels Corp., Philippines
- PowerSource Philippines DevCo
- Bhatia International Limited - India
- Binh Thuan Hamico - Vietnam
- Energy Link Ltd, New Zealand
- Kideco Jaya Agung - Indonesia
- Latin American Coal - Colombia
- Star Paper Mills Limited - India
- Baramulti Group, Indonesia
- Sindya Power Generating Company Private Ltd
- Jaiprakash Power Ventures ltd
- Agrawal Coal Company - India
- CNBM International Corporation - China
- Therma Luzon, Inc, Philippines
- Orica Australia Pty. Ltd.
- Karbindo Abesyapradhi - Indoneisa
- Central Java Power - Indonesia
- Attock Cement Pakistan Limited
- IEA Clean Coal Centre - UK
- Sakthi Sugars Limited - India
- Pendopo Energi Batubara - Indonesia
- Timah Investasi Mineral - Indoneisa
- Wilmar Investment Holdings
- Samtan Co., Ltd - South Korea
- Barasentosa Lestari - Indonesia
- LBH Netherlands Bv - Netherlands
- Australian Commodity Traders Exchange
- Sinarmas Energy and Mining - Indonesia
- Kobexindo Tractors - Indoneisa
- VISA Power Limited - India
- Eastern Coal Council - USA
- Bharathi Cement Corporation - India
- Essar Steel Hazira Ltd - India
- SMC Global Power, Philippines
- IHS Mccloskey Coal Group - USA
- London Commodity Brokers - England
- Rio Tinto Coal - Australia
- Australian Coal Association
- Petrochimia International Co. Ltd.- Taiwan
- Independent Power Producers Association of India
- Billiton Holdings Pty Ltd - Australia
- Coalindo Energy - Indonesia
- Madhucon Powers Ltd - India
- Siam City Cement PLC, Thailand
- Standard Chartered Bank - UAE
- Mjunction Services Limited - India
- SN Aboitiz Power Inc, Philippines
- Uttam Galva Steels Limited - India
- Dalmia Cement Bharat India
- Jorong Barutama Greston.PT - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Economic Council, Georgia
- Iligan Light & Power Inc, Philippines
- Gujarat Sidhee Cement - India
- Carbofer General Trading SA - India
- Ministry of Finance - Indonesia
- Electricity Authority, New Zealand
- Alfred C Toepfer International GmbH - Germany
- Gujarat Electricity Regulatory Commission - India
- Neyveli Lignite Corporation Ltd, - India
- San Jose City I Power Corp, Philippines
- Malabar Cements Ltd - India
- Energy Development Corp, Philippines
- South Luzon Thermal Energy Corporation
- CIMB Investment Bank - Malaysia
- Lanco Infratech Ltd - India
- Formosa Plastics Group - Taiwan
- Indian Oil Corporation Limited
- Anglo American - United Kingdom
- The University of Queensland
- Directorate Of Revenue Intelligence - India
- Bulk Trading Sa - Switzerland
- Larsen & Toubro Limited - India
- MS Steel International - UAE
- Tamil Nadu electricity Board
- TeaM Sual Corporation - Philippines
- Siam City Cement - Thailand
- Sree Jayajothi Cements Limited - India
- Rashtriya Ispat Nigam Limited - India
- PNOC Exploration Corporation - Philippines
- Electricity Generating Authority of Thailand
- White Energy Company Limited
- Mercator Lines Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kohat Cement Company Ltd. - Pakistan
- Chettinad Cement Corporation Ltd - India
- Goldman Sachs - Singapore
- Ministry of Mines - Canada
- Planning Commission, India
- Indogreen Group - Indonesia
- Meralco Power Generation, Philippines
- Global Business Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Cigading International Bulk Terminal - Indonesia
- Sarangani Energy Corporation, Philippines
- Thiess Contractors Indonesia
- Parry Sugars Refinery, India
- Asmin Koalindo Tuhup - Indonesia
- Ambuja Cements Ltd - India
- Sical Logistics Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Marubeni Corporation - India
- New Zealand Coal & Carbon
- Coastal Gujarat Power Limited - India
- Oldendorff Carriers - Singapore
- Riau Bara Harum - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Kepco SPC Power Corporation, Philippines
- Ministry of Transport, Egypt
- Kumho Petrochemical, South Korea
- Simpson Spence & Young - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Heidelberg Cement - Germany
- Xindia Steels Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Tata Chemicals Ltd - India
- International Coal Ventures Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- PTC India Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Bukit Baiduri Energy - Indonesia
- Borneo Indobara - Indonesia
- Ind-Barath Power Infra Limited - India
- Vedanta Resources Plc - India
- Leighton Contractors Pty Ltd - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Gujarat Mineral Development Corp Ltd - India
- SMG Consultants - Indonesia
- Vizag Seaport Private Limited - India
- Toyota Tsusho Corporation, Japan
- Maheswari Brothers Coal Limited - India
- Trasteel International SA, Italy
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Africa Commodities Group - South Africa
- Central Electricity Authority - India
- Deloitte Consulting - India
- OPG Power Generation Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Mintek Dendrill Indonesia
- Ceylon Electricity Board - Sri Lanka
- Bangladesh Power Developement Board
- The Treasury - Australian Government
- Holcim Trading Pte Ltd - Singapore
- Chamber of Mines of South Africa
- Miang Besar Coal Terminal - Indonesia
- Indonesian Coal Mining Association
- European Bulk Services B.V. - Netherlands
- Orica Mining Services - Indonesia
- Thai Mozambique Logistica
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