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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, 01 December 11
DRY BULK MARKET RISES TO NEW HEIGHTS ON RENEWED DEMAND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has kept on rising this week, with the industry’s benchmark, the Baltic Dry Index (BDI) climbing to 1,846 points on Wednes ...
Tuesday, 29 November 11
SOUTH AFRICAN COAL INTO CHINA, THE ACTIVITY WAS SLOW - BRS
Capesize
The Capesize market in Atlantic stayed pretty firm last week with transatlantic rounds being fixed in the high twenties. Sentiment was les ...
Tuesday, 29 November 11
GOLDEN GATE BRIDGE OF INDONESIA COLLAPSED AT KUKAR, EAST KALIMANTAN
COALspot.com - A suspension bridge in Indonesia’s east Kalimantan province over the Mahakam river collapsed on Saturday, killing at least elev ...
Tuesday, 29 November 11
BUKIT ASAM SCOUTS RP3 TRILLION PROFIT - INSIDER STORIES
The state-controlled coal miner PT Bukit Asam Tbk (PTBA) expects to post a Rp3 trillion net income this year, reaching its target which is 50% above ...
Tuesday, 29 November 11
DRY BULK MARKET BEGINS WEEK ON HIGHER NOTE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Contrary to what had been the case during the past few weeks, this one began on a high note for the dry bulk market, with the Capesize sector pullin ...
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- Gujarat Sidhee Cement - India
- Global Coal Blending Company Limited - Australia
- Independent Power Producers Association of India
- Directorate General of MIneral and Coal - Indonesia
- Antam Resourcindo - Indonesia
- Billiton Holdings Pty Ltd - Australia
- SN Aboitiz Power Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Bangladesh Power Developement Board
- Barasentosa Lestari - Indonesia
- Mjunction Services Limited - India
- Holcim Trading Pte Ltd - Singapore
- Bhatia International Limited - India
- San Jose City I Power Corp, Philippines
- Bulk Trading Sa - Switzerland
- Carbofer General Trading SA - India
- Miang Besar Coal Terminal - Indonesia
- Petron Corporation, Philippines
- Borneo Indobara - Indonesia
- Minerals Council of Australia
- International Coal Ventures Pvt Ltd - India
- Ministry of Transport, Egypt
- Marubeni Corporation - India
- Aboitiz Power Corporation - Philippines
- India Bulls Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- Madhucon Powers Ltd - India
- Bukit Baiduri Energy - Indonesia
- Larsen & Toubro Limited - India
- Altura Mining Limited, Indonesia
- OPG Power Generation Pvt Ltd - India
- Dalmia Cement Bharat India
- Aditya Birla Group - India
- Siam City Cement - Thailand
- Romanian Commodities Exchange
- Coal and Oil Company - UAE
- Siam City Cement PLC, Thailand
- Riau Bara Harum - Indonesia
- Indonesian Coal Mining Association
- Sree Jayajothi Cements Limited - India
- Sical Logistics Limited - India
- Commonwealth Bank - Australia
- McConnell Dowell - Australia
- Baramulti Group, Indonesia
- Wood Mackenzie - Singapore
- Ambuja Cements Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Essar Steel Hazira Ltd - India
- Sarangani Energy Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Medco Energi Mining Internasional
- Maheswari Brothers Coal Limited - India
- Australian Coal Association
- Alfred C Toepfer International GmbH - Germany
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Formosa Plastics Group - Taiwan
- Attock Cement Pakistan Limited
- Kobexindo Tractors - Indoneisa
- Toyota Tsusho Corporation, Japan
- Global Business Power Corporation, Philippines
- Orica Australia Pty. Ltd.
- Standard Chartered Bank - UAE
- Pendopo Energi Batubara - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Cement Manufacturers Association - India
- Directorate Of Revenue Intelligence - India
- Electricity Authority, New Zealand
- Coalindo Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Ministry of Finance - Indonesia
- Planning Commission, India
- Bhoruka Overseas - Indonesia
- GVK Power & Infra Limited - India
- Indian Oil Corporation Limited
- Chamber of Mines of South Africa
- IEA Clean Coal Centre - UK
- Africa Commodities Group - South Africa
- Port Waratah Coal Services - Australia
- Karbindo Abesyapradhi - Indoneisa
- Vizag Seaport Private Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Videocon Industries ltd - India
- Power Finance Corporation Ltd., India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Energy Link Ltd, New Zealand
- Edison Trading Spa - Italy
- White Energy Company Limited
- Bukit Makmur.PT - Indonesia
- SMC Global Power, Philippines
- Wilmar Investment Holdings
- Thai Mozambique Logistica
- Semirara Mining Corp, Philippines
- Therma Luzon, Inc, Philippines
- Intertek Mineral Services - Indonesia
- Indian Energy Exchange, India
- Mercator Lines Limited - India
- GMR Energy Limited - India
- Singapore Mercantile Exchange
- Vijayanagar Sugar Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Agrawal Coal Company - India
- Deloitte Consulting - India
- Australian Commodity Traders Exchange
- Savvy Resources Ltd - HongKong
- Oldendorff Carriers - Singapore
- TeaM Sual Corporation - Philippines
- Cigading International Bulk Terminal - Indonesia
- Kepco SPC Power Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Uttam Galva Steels Limited - India
- Binh Thuan Hamico - Vietnam
- Chettinad Cement Corporation Ltd - India
- Kaltim Prima Coal - Indonesia
- Indika Energy - Indonesia
- Kumho Petrochemical, South Korea
- Mintek Dendrill Indonesia
- Sojitz Corporation - Japan
- GAC Shipping (India) Pvt Ltd
- IHS Mccloskey Coal Group - USA
- Eastern Energy - Thailand
- Timah Investasi Mineral - Indoneisa
- Sindya Power Generating Company Private Ltd
- Bhushan Steel Limited - India
- Malabar Cements Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Anglo American - United Kingdom
- Leighton Contractors Pty Ltd - Australia
- Ministry of Mines - Canada
- European Bulk Services B.V. - Netherlands
- Trasteel International SA, Italy
- ASAPP Information Group - India
- Global Green Power PLC Corporation, Philippines
- Parliament of New Zealand
- The State Trading Corporation of India Ltd
- Mercuria Energy - Indonesia
- Grasim Industreis Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Jaiprakash Power Ventures ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Xindia Steels Limited - India
- New Zealand Coal & Carbon
- Orica Mining Services - Indonesia
- Rio Tinto Coal - Australia
- Samtan Co., Ltd - South Korea
- Central Java Power - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- TNB Fuel Sdn Bhd - Malaysia
- Thiess Contractors Indonesia
- Tamil Nadu electricity Board
- Pipit Mutiara Jaya. PT, Indonesia
- Globalindo Alam Lestari - Indonesia
- Interocean Group of Companies - India
- Parry Sugars Refinery, India
- Karaikal Port Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Bharathi Cement Corporation - India
- VISA Power Limited - India
- Posco Energy - South Korea
- PNOC Exploration Corporation - Philippines
- Ind-Barath Power Infra Limited - India
- Renaissance Capital - South Africa
- Economic Council, Georgia
- PetroVietnam Power Coal Import and Supply Company
- Heidelberg Cement - Germany
- Eastern Coal Council - USA
- Central Electricity Authority - India
- London Commodity Brokers - England
- Bank of Tokyo Mitsubishi UFJ Ltd
- Vedanta Resources Plc - India
- Lanco Infratech Ltd - India
- SMG Consultants - Indonesia
- Banpu Public Company Limited - Thailand
- Merrill Lynch Commodities Europe
- Indogreen Group - Indonesia
- PowerSource Philippines DevCo
- Iligan Light & Power Inc, Philippines
- Price Waterhouse Coopers - Russia
- Electricity Generating Authority of Thailand
- CNBM International Corporation - China
- Energy Development Corp, Philippines
- Kalimantan Lumbung Energi - Indonesia
- PTC India Limited - India
- Makarim & Taira - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Goldman Sachs - Singapore
- Metalloyd Limited - United Kingdom
- Kartika Selabumi Mining - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Meralco Power Generation, Philippines
- Kideco Jaya Agung - Indonesia
- ICICI Bank Limited - India
- South Luzon Thermal Energy Corporation
- Jindal Steel & Power Ltd - India
- Salva Resources Pvt Ltd - India
- The Treasury - Australian Government
- Georgia Ports Authority, United States
- Bayan Resources Tbk. - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Asmin Koalindo Tuhup - Indonesia
- The University of Queensland
- Coastal Gujarat Power Limited - India
- Tata Chemicals Ltd - India
- Latin American Coal - Colombia
- Krishnapatnam Port Company Ltd. - India
- Indo Tambangraya Megah - Indonesia
- Sakthi Sugars Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Manunggal Multi Energi - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- CIMB Investment Bank - Malaysia
- MS Steel International - UAE
- Straits Asia Resources Limited - Singapore
- Meenaskhi Energy Private Limited - India
- Star Paper Mills Limited - India
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