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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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Friday, 18 November 11
MMTC SEEKS 1.365 MMT OF IMPORTED COAL
COALspot.com - India's MMTC, the largest trading company of India and a major trading company of Asia, has issued a term supply tender for 1.365Mt ...
Friday, 18 November 11
KPC, ARUTMIN OUTPUT REACHED 47.1 MIO TONS - INSIDER STORIES
PT Kaltim Prima Coal (KPC) and PT Arutmin Indonesia, reported 47.1 million tons of coal production in 9M 2011, according to Indiser Stories.
Insi ...
Friday, 18 November 11
THE ATLANTIC SUPRAMAX MARKET EXPERIENCED A STEADY AND FIRM TENDENCY
Handy
The Atlantic Supramax market experienced a steady and firm tendency this week. Especially the North Atlantic and Mediterranean position ...
Friday, 18 November 11
BERAU COAL 9M PROFIT SOARS 194.46% - INSIDER STORIES
Insider Stories reported that, PT Berau Coal Energy Tbk (BRAU), which is 84.7% owned by Bumi Plc, reported a 194.46% jump in net profit by end of Se ...
Thursday, 17 November 11
DRY BULK MARKET INCHES FORWARD AND INTO HIGHER GROUND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market edged higher yesterday, on the back of stronger demand for Capesize vessels and general improvement of sentiment on most of the ...
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- London Commodity Brokers - England
- Maheswari Brothers Coal Limited - India
- Latin American Coal - Colombia
- Jindal Steel & Power Ltd - India
- Independent Power Producers Association of India
- Lanco Infratech Ltd - India
- Bulk Trading Sa - Switzerland
- Salva Resources Pvt Ltd - India
- Malabar Cements Ltd - India
- Commonwealth Bank - Australia
- Oldendorff Carriers - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Energy Link Ltd, New Zealand
- PNOC Exploration Corporation - Philippines
- ASAPP Information Group - India
- Billiton Holdings Pty Ltd - Australia
- Manunggal Multi Energi - Indonesia
- Kartika Selabumi Mining - Indonesia
- Economic Council, Georgia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Aboitiz Power Corporation - Philippines
- Goldman Sachs - Singapore
- Aditya Birla Group - India
- Kalimantan Lumbung Energi - Indonesia
- Ministry of Transport, Egypt
- Leighton Contractors Pty Ltd - Australia
- Port Waratah Coal Services - Australia
- Interocean Group of Companies - India
- Samtan Co., Ltd - South Korea
- Chettinad Cement Corporation Ltd - India
- Karaikal Port Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Central Java Power - Indonesia
- Rio Tinto Coal - Australia
- Orica Mining Services - Indonesia
- Altura Mining Limited, Indonesia
- McConnell Dowell - Australia
- San Jose City I Power Corp, Philippines
- Formosa Plastics Group - Taiwan
- Videocon Industries ltd - India
- South Luzon Thermal Energy Corporation
- Globalindo Alam Lestari - Indonesia
- Straits Asia Resources Limited - Singapore
- Riau Bara Harum - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Wood Mackenzie - Singapore
- SMC Global Power, Philippines
- Makarim & Taira - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Jaiprakash Power Ventures ltd
- IHS Mccloskey Coal Group - USA
- LBH Netherlands Bv - Netherlands
- Power Finance Corporation Ltd., India
- Australian Commodity Traders Exchange
- Sojitz Corporation - Japan
- Bhoruka Overseas - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Kideco Jaya Agung - Indonesia
- The Treasury - Australian Government
- Ministry of Finance - Indonesia
- Planning Commission, India
- Australian Coal Association
- Posco Energy - South Korea
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Standard Chartered Bank - UAE
- Kobexindo Tractors - Indoneisa
- SMG Consultants - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Heidelberg Cement - Germany
- Kepco SPC Power Corporation, Philippines
- Merrill Lynch Commodities Europe
- Indo Tambangraya Megah - Indonesia
- Bangladesh Power Developement Board
- Maharashtra Electricity Regulatory Commission - India
- Kapuas Tunggal Persada - Indonesia
- Central Electricity Authority - India
- Madhucon Powers Ltd - India
- Ministry of Mines - Canada
- Mercuria Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Jorong Barutama Greston.PT - Indonesia
- Grasim Industreis Ltd - India
- Sakthi Sugars Limited - India
- India Bulls Power Limited - India
- Agrawal Coal Company - India
- Toyota Tsusho Corporation, Japan
- AsiaOL BioFuels Corp., Philippines
- The University of Queensland
- Bukit Makmur.PT - Indonesia
- Ind-Barath Power Infra Limited - India
- European Bulk Services B.V. - Netherlands
- GN Power Mariveles Coal Plant, Philippines
- Borneo Indobara - Indonesia
- Metalloyd Limited - United Kingdom
- Global Green Power PLC Corporation, Philippines
- Global Business Power Corporation, Philippines
- Vedanta Resources Plc - India
- Electricity Generating Authority of Thailand
- Price Waterhouse Coopers - Russia
- Siam City Cement PLC, Thailand
- Electricity Authority, New Zealand
- Energy Development Corp, Philippines
- Wilmar Investment Holdings
- Singapore Mercantile Exchange
- TeaM Sual Corporation - Philippines
- Miang Besar Coal Terminal - Indonesia
- Vizag Seaport Private Limited - India
- Sical Logistics Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- New Zealand Coal & Carbon
- CIMB Investment Bank - Malaysia
- Bukit Baiduri Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Kaltim Prima Coal - Indonesia
- ICICI Bank Limited - India
- Mintek Dendrill Indonesia
- Directorate Of Revenue Intelligence - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Barasentosa Lestari - Indonesia
- Indian Oil Corporation Limited
- Carbofer General Trading SA - India
- Indogreen Group - Indonesia
- Cement Manufacturers Association - India
- Coastal Gujarat Power Limited - India
- Gujarat Mineral Development Corp Ltd - India
- OPG Power Generation Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Coal and Oil Company - UAE
- Edison Trading Spa - Italy
- Meenaskhi Energy Private Limited - India
- Krishnapatnam Port Company Ltd. - India
- Renaissance Capital - South Africa
- TNB Fuel Sdn Bhd - Malaysia
- Sindya Power Generating Company Private Ltd
- Global Coal Blending Company Limited - Australia
- VISA Power Limited - India
- Romanian Commodities Exchange
- Medco Energi Mining Internasional
- IEA Clean Coal Centre - UK
- Timah Investasi Mineral - Indoneisa
- Tamil Nadu electricity Board
- Bayan Resources Tbk. - Indonesia
- Indonesian Coal Mining Association
- Larsen & Toubro Limited - India
- White Energy Company Limited
- Uttam Galva Steels Limited - India
- Marubeni Corporation - India
- Parry Sugars Refinery, India
- Xindia Steels Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sree Jayajothi Cements Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- PowerSource Philippines DevCo
- Karbindo Abesyapradhi - Indoneisa
- Rashtriya Ispat Nigam Limited - India
- Trasteel International SA, Italy
- GMR Energy Limited - India
- Antam Resourcindo - Indonesia
- Ambuja Cements Ltd - India
- Banpu Public Company Limited - Thailand
- Sarangani Energy Corporation, Philippines
- Africa Commodities Group - South Africa
- Georgia Ports Authority, United States
- Semirara Mining and Power Corporation, Philippines
- Orica Australia Pty. Ltd.
- CNBM International Corporation - China
- Baramulti Group, Indonesia
- Kumho Petrochemical, South Korea
- Alfred C Toepfer International GmbH - Germany
- Simpson Spence & Young - Indonesia
- Gujarat Electricity Regulatory Commission - India
- GVK Power & Infra Limited - India
- Coalindo Energy - Indonesia
- Anglo American - United Kingdom
- Bhatia International Limited - India
- Essar Steel Hazira Ltd - India
- Semirara Mining Corp, Philippines
- GAC Shipping (India) Pvt Ltd
- Gujarat Sidhee Cement - India
- Petron Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Star Paper Mills Limited - India
- Intertek Mineral Services - Indonesia
- Indian Energy Exchange, India
- Eastern Energy - Thailand
- Attock Cement Pakistan Limited
- Mercator Lines Limited - India
- Meralco Power Generation, Philippines
- Chamber of Mines of South Africa
- Ceylon Electricity Board - Sri Lanka
- Thiess Contractors Indonesia
- MS Steel International - UAE
- Minerals Council of Australia
- Eastern Coal Council - USA
- Deloitte Consulting - India
- The State Trading Corporation of India Ltd
- Tata Chemicals Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Thai Mozambique Logistica
- Bharathi Cement Corporation - India
- International Coal Ventures Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Parliament of New Zealand
- Mjunction Services Limited - India
- Bhushan Steel Limited - India
- PetroVietnam Power Coal Import and Supply Company
- PTC India Limited - India
- Therma Luzon, Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Siam City Cement - Thailand
- Dalmia Cement Bharat India
- Directorate General of MIneral and Coal - Indonesia
- Indika Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
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