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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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Tuesday, 22 November 11
ABM INVESTAMA SETS IPO AT RP 3,750
Insider Stories reported that, Integrated energy company PT ABM Investama Tbk has determined the IPO price at Rp3,750 (approximately US$ 0.415) per ...
Tuesday, 22 November 11
A SURPRISINGLY STRONG WEEK FOR THE CAPES - BRS
Positive gains for most of the segments this week, the exception being the Handysizes. Overall the BDI ended the week at 1,895 points (+3.3% week-on ...
Tuesday, 22 November 11
APPETITE FOR DRY BULK VESSELS SLOWS DOWN AT THE START OF THE WEEK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market was down at the beginning of the week, as demand for Capesize vessels was particularly low. The industry’s benchmark, the ...
Monday, 21 November 11
CAPESIZES DRIVE MARKET LOWER, ANALYSTS DIVIDED ON DRY BULK OUTLOOK IN THE LONG RUN - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market ended the week on a sour note, with the industry’s benchmark heading downwards to 1,895 points, which represented a slight ...
Sunday, 20 November 11
THE FREIGHT MARKETS EXPECTED TO BE FIRM NEXT WEEK - VISTAAR
COALspot.com - The market continued to move up with all sectors gaining except for handy size.
The BDI was up by 3.26 pct and closed at 1895 poin ...
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- Interocean Group of Companies - India
- Maharashtra Electricity Regulatory Commission - India
- Straits Asia Resources Limited - Singapore
- Gujarat Electricity Regulatory Commission - India
- SMC Global Power, Philippines
- PowerSource Philippines DevCo
- Parry Sugars Refinery, India
- Orica Australia Pty. Ltd.
- Energy Development Corp, Philippines
- Port Waratah Coal Services - Australia
- SMG Consultants - Indonesia
- Georgia Ports Authority, United States
- Kapuas Tunggal Persada - Indonesia
- Parliament of New Zealand
- Mintek Dendrill Indonesia
- GAC Shipping (India) Pvt Ltd
- PTC India Limited - India
- Sakthi Sugars Limited - India
- Semirara Mining and Power Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Kalimantan Lumbung Energi - Indonesia
- Planning Commission, India
- AsiaOL BioFuels Corp., Philippines
- Power Finance Corporation Ltd., India
- Australian Coal Association
- The Treasury - Australian Government
- Singapore Mercantile Exchange
- Global Business Power Corporation, Philippines
- Vedanta Resources Plc - India
- Salva Resources Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Ambuja Cements Ltd - India
- Indonesian Coal Mining Association
- Antam Resourcindo - Indonesia
- Agrawal Coal Company - India
- McConnell Dowell - Australia
- Leighton Contractors Pty Ltd - Australia
- Directorate General of MIneral and Coal - Indonesia
- Madhucon Powers Ltd - India
- GMR Energy Limited - India
- Krishnapatnam Port Company Ltd. - India
- Neyveli Lignite Corporation Ltd, - India
- Gujarat Mineral Development Corp Ltd - India
- Price Waterhouse Coopers - Russia
- Mercuria Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Jindal Steel & Power Ltd - India
- CNBM International Corporation - China
- TeaM Sual Corporation - Philippines
- The University of Queensland
- Sinarmas Energy and Mining - Indonesia
- Timah Investasi Mineral - Indoneisa
- Eastern Coal Council - USA
- Ministry of Transport, Egypt
- European Bulk Services B.V. - Netherlands
- Bangladesh Power Developement Board
- Kobexindo Tractors - Indoneisa
- London Commodity Brokers - England
- MS Steel International - UAE
- Karaikal Port Pvt Ltd - India
- Xindia Steels Limited - India
- Eastern Energy - Thailand
- Barasentosa Lestari - Indonesia
- Indika Energy - Indonesia
- Mjunction Services Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Global Green Power PLC Corporation, Philippines
- Chamber of Mines of South Africa
- South Luzon Thermal Energy Corporation
- Sree Jayajothi Cements Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Heidelberg Cement - Germany
- Bukit Makmur.PT - Indonesia
- Indian Oil Corporation Limited
- Ministry of Finance - Indonesia
- Baramulti Group, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Posco Energy - South Korea
- Wood Mackenzie - Singapore
- Coalindo Energy - Indonesia
- Attock Cement Pakistan Limited
- Pipit Mutiara Jaya. PT, Indonesia
- Malabar Cements Ltd - India
- GVK Power & Infra Limited - India
- IEA Clean Coal Centre - UK
- Thiess Contractors Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Central Java Power - Indonesia
- Electricity Authority, New Zealand
- Oldendorff Carriers - Singapore
- Makarim & Taira - Indonesia
- Medco Energi Mining Internasional
- Savvy Resources Ltd - HongKong
- Aditya Birla Group - India
- Manunggal Multi Energi - Indonesia
- OPG Power Generation Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Simpson Spence & Young - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Energy Link Ltd, New Zealand
- Binh Thuan Hamico - Vietnam
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Siam City Cement - Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Mercator Lines Limited - India
- Miang Besar Coal Terminal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Pendopo Energi Batubara - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- White Energy Company Limited
- New Zealand Coal & Carbon
- IHS Mccloskey Coal Group - USA
- Essar Steel Hazira Ltd - India
- Commonwealth Bank - Australia
- Ministry of Mines - Canada
- CIMB Investment Bank - Malaysia
- Coastal Gujarat Power Limited - India
- Aboitiz Power Corporation - Philippines
- Standard Chartered Bank - UAE
- Banpu Public Company Limited - Thailand
- Tata Chemicals Ltd - India
- Sarangani Energy Corporation, Philippines
- Videocon Industries ltd - India
- India Bulls Power Limited - India
- Australian Commodity Traders Exchange
- Maheswari Brothers Coal Limited - India
- Metalloyd Limited - United Kingdom
- The State Trading Corporation of India Ltd
- Vizag Seaport Private Limited - India
- Semirara Mining Corp, Philippines
- Merrill Lynch Commodities Europe
- PNOC Exploration Corporation - Philippines
- Siam City Cement PLC, Thailand
- Kaltim Prima Coal - Indonesia
- Ind-Barath Power Infra Limited - India
- Chettinad Cement Corporation Ltd - India
- Samtan Co., Ltd - South Korea
- Tamil Nadu electricity Board
- Kumho Petrochemical, South Korea
- Dalmia Cement Bharat India
- Uttam Galva Steels Limited - India
- Edison Trading Spa - Italy
- Coal and Oil Company - UAE
- VISA Power Limited - India
- Bhoruka Overseas - Indonesia
- Romanian Commodities Exchange
- Sindya Power Generating Company Private Ltd
- Jaiprakash Power Ventures ltd
- Rashtriya Ispat Nigam Limited - India
- Goldman Sachs - Singapore
- Sojitz Corporation - Japan
- Bayan Resources Tbk. - Indonesia
- Kepco SPC Power Corporation, Philippines
- Deloitte Consulting - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Star Paper Mills Limited - India
- Indo Tambangraya Megah - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Wilmar Investment Holdings
- Larsen & Toubro Limited - India
- Carbofer General Trading SA - India
- Meralco Power Generation, Philippines
- Electricity Generating Authority of Thailand
- Toyota Tsusho Corporation, Japan
- Marubeni Corporation - India
- ASAPP Information Group - India
- ICICI Bank Limited - India
- Sical Logistics Limited - India
- Thai Mozambique Logistica
- Therma Luzon, Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kideco Jaya Agung - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Petron Corporation, Philippines
- Orica Mining Services - Indonesia
- Central Electricity Authority - India
- San Jose City I Power Corp, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bhatia International Limited - India
- Bharathi Cement Corporation - India
- Kartika Selabumi Mining - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Indogreen Group - Indonesia
- Minerals Council of Australia
- Kohat Cement Company Ltd. - Pakistan
- Trasteel International SA, Italy
- International Coal Ventures Pvt Ltd - India
- Grasim Industreis Ltd - India
- Bulk Trading Sa - Switzerland
- Bukit Baiduri Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Bahari Cakrawala Sebuku - Indonesia
- LBH Netherlands Bv - Netherlands
- Cement Manufacturers Association - India
- Borneo Indobara - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Cigading International Bulk Terminal - Indonesia
- Africa Commodities Group - South Africa
- Alfred C Toepfer International GmbH - Germany
- Latin American Coal - Colombia
- Independent Power Producers Association of India
- Ceylon Electricity Board - Sri Lanka
- Formosa Plastics Group - Taiwan
- Altura Mining Limited, Indonesia
- SN Aboitiz Power Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Indian Energy Exchange, India
- Rio Tinto Coal - Australia
- Meenaskhi Energy Private Limited - India
- Anglo American - United Kingdom
- Iligan Light & Power Inc, Philippines
- Renaissance Capital - South Africa
- Riau Bara Harum - Indonesia
- Bhushan Steel Limited - India
- Lanco Infratech Ltd - India
- Economic Council, Georgia
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