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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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Wednesday, 16 November 11
A STRONG WEEK FOR THE CAPES - BRS
A sharp bounce by the Cape market pushed the BDI up by 3% last week. This was despite a softening in the other indices with the Panamax, Supramax an ...
Monday, 14 November 11
BORL SEEKS 660K MT OF LOW SULPHUR COAL
COALspot.com - BORL India has issued a tender for around 660,000 MT of 4500 - 5500 kcal/kg sub-bituminous Coal.
Bharat Oman Refineries Ltd ...
Sunday, 13 November 11
BUNKER PRICES REMAINED FIRM
COALspot.com - The market seemed to recover this week with the BDI and Cape Index up.
The BDI was up by only about 2.86 pct closing at 1835 point ...
Saturday, 12 November 11
COALINDO ENERGY LAUNCHED INDEX FOR 3400 GAR COAL
COALspot.com - PT Coalindo Energy, in cooperation with Argus Media Limited, launched the coal index for low-rank coal with a calorific value of 3,40 ...
Saturday, 12 November 11
BBJ WILL RELEASE A COAL CONTRACT
Jakarta Futures Exchange will soon release a coal futures contracts during the quarter 1 / 2012.
Director of the Jakarta Futures Exchange (BBJ) S ...
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- Offshore Bulk Terminal Pte Ltd, Singapore
- Antam Resourcindo - Indonesia
- Straits Asia Resources Limited - Singapore
- Meralco Power Generation, Philippines
- Indian Oil Corporation Limited
- Price Waterhouse Coopers - Russia
- Holcim Trading Pte Ltd - Singapore
- Iligan Light & Power Inc, Philippines
- White Energy Company Limited
- Pipit Mutiara Jaya. PT, Indonesia
- LBH Netherlands Bv - Netherlands
- Indian Energy Exchange, India
- Sical Logistics Limited - India
- Latin American Coal - Colombia
- Leighton Contractors Pty Ltd - Australia
- Xindia Steels Limited - India
- Sindya Power Generating Company Private Ltd
- Energy Development Corp, Philippines
- Australian Coal Association
- Neyveli Lignite Corporation Ltd, - India
- Minerals Council of Australia
- Rashtriya Ispat Nigam Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- MS Steel International - UAE
- Goldman Sachs - Singapore
- Barasentosa Lestari - Indonesia
- Bulk Trading Sa - Switzerland
- Parry Sugars Refinery, India
- Attock Cement Pakistan Limited
- Madhucon Powers Ltd - India
- The Treasury - Australian Government
- PowerSource Philippines DevCo
- Bayan Resources Tbk. - Indonesia
- Energy Link Ltd, New Zealand
- Therma Luzon, Inc, Philippines
- Commonwealth Bank - Australia
- Trasteel International SA, Italy
- International Coal Ventures Pvt Ltd - India
- Tata Chemicals Ltd - India
- Ministry of Finance - Indonesia
- ICICI Bank Limited - India
- PNOC Exploration Corporation - Philippines
- Edison Trading Spa - Italy
- Binh Thuan Hamico - Vietnam
- Mintek Dendrill Indonesia
- Malabar Cements Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Australian Commodity Traders Exchange
- European Bulk Services B.V. - Netherlands
- Mjunction Services Limited - India
- India Bulls Power Limited - India
- London Commodity Brokers - England
- Electricity Authority, New Zealand
- IHS Mccloskey Coal Group - USA
- Jindal Steel & Power Ltd - India
- Parliament of New Zealand
- Borneo Indobara - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Orica Australia Pty. Ltd.
- Bukit Makmur.PT - Indonesia
- Central Java Power - Indonesia
- Oldendorff Carriers - Singapore
- Agrawal Coal Company - India
- SMC Global Power, Philippines
- Kideco Jaya Agung - Indonesia
- Ambuja Cements Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Indogreen Group - Indonesia
- Wilmar Investment Holdings
- Karaikal Port Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- IEA Clean Coal Centre - UK
- AsiaOL BioFuels Corp., Philippines
- PTC India Limited - India
- Globalindo Alam Lestari - Indonesia
- Medco Energi Mining Internasional
- Metalloyd Limited - United Kingdom
- South Luzon Thermal Energy Corporation
- Maheswari Brothers Coal Limited - India
- Bhoruka Overseas - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Indika Energy - Indonesia
- Videocon Industries ltd - India
- Singapore Mercantile Exchange
- Eastern Energy - Thailand
- Ind-Barath Power Infra Limited - India
- The State Trading Corporation of India Ltd
- Posco Energy - South Korea
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Vedanta Resources Plc - India
- McConnell Dowell - Australia
- Africa Commodities Group - South Africa
- Gujarat Sidhee Cement - India
- TeaM Sual Corporation - Philippines
- Sojitz Corporation - Japan
- Bangladesh Power Developement Board
- Electricity Generating Authority of Thailand
- Directorate Of Revenue Intelligence - India
- Kaltim Prima Coal - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Marubeni Corporation - India
- Dalmia Cement Bharat India
- Baramulti Group, Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Mercuria Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Global Green Power PLC Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Petron Corporation, Philippines
- SMG Consultants - Indonesia
- Star Paper Mills Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Siam City Cement - Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- San Jose City I Power Corp, Philippines
- Standard Chartered Bank - UAE
- Sinarmas Energy and Mining - Indonesia
- Samtan Co., Ltd - South Korea
- Kobexindo Tractors - Indoneisa
- Gujarat Electricity Regulatory Commission - India
- Kumho Petrochemical, South Korea
- Independent Power Producers Association of India
- Lanco Infratech Ltd - India
- Chamber of Mines of South Africa
- GAC Shipping (India) Pvt Ltd
- Cement Manufacturers Association - India
- Thai Mozambique Logistica
- Riau Bara Harum - Indonesia
- Wood Mackenzie - Singapore
- OPG Power Generation Pvt Ltd - India
- Bhushan Steel Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Altura Mining Limited, Indonesia
- Indo Tambangraya Megah - Indonesia
- Vizag Seaport Private Limited - India
- CIMB Investment Bank - Malaysia
- PetroVietnam Power Coal Import and Supply Company
- Coastal Gujarat Power Limited - India
- Global Business Power Corporation, Philippines
- Ministry of Transport, Egypt
- Timah Investasi Mineral - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- CNBM International Corporation - China
- The University of Queensland
- Meenaskhi Energy Private Limited - India
- Siam City Cement PLC, Thailand
- Georgia Ports Authority, United States
- Bahari Cakrawala Sebuku - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Power Finance Corporation Ltd., India
- ASAPP Information Group - India
- Rio Tinto Coal - Australia
- Tamil Nadu electricity Board
- Billiton Holdings Pty Ltd - Australia
- Planning Commission, India
- Savvy Resources Ltd - HongKong
- Deloitte Consulting - India
- Simpson Spence & Young - Indonesia
- Heidelberg Cement - Germany
- Larsen & Toubro Limited - India
- Karbindo Abesyapradhi - Indoneisa
- VISA Power Limited - India
- Kartika Selabumi Mining - Indonesia
- Pendopo Energi Batubara - Indonesia
- Essar Steel Hazira Ltd - India
- Orica Mining Services - Indonesia
- Bhatia International Limited - India
- Thiess Contractors Indonesia
- Renaissance Capital - South Africa
- Merrill Lynch Commodities Europe
- Sarangani Energy Corporation, Philippines
- Ministry of Mines - Canada
- Sree Jayajothi Cements Limited - India
- Formosa Plastics Group - Taiwan
- Semirara Mining and Power Corporation, Philippines
- Bharathi Cement Corporation - India
- Interocean Group of Companies - India
- Banpu Public Company Limited - Thailand
- GVK Power & Infra Limited - India
- Indonesian Coal Mining Association
- Jorong Barutama Greston.PT - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Makarim & Taira - Indonesia
- Salva Resources Pvt Ltd - India
- Coal and Oil Company - UAE
- Carbofer General Trading SA - India
- Aboitiz Power Corporation - Philippines
- Sakthi Sugars Limited - India
- Uttam Galva Steels Limited - India
- Intertek Mineral Services - Indonesia
- Central Electricity Authority - India
- Krishnapatnam Port Company Ltd. - India
- Chettinad Cement Corporation Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Semirara Mining Corp, Philippines
- Anglo American - United Kingdom
- Romanian Commodities Exchange
- New Zealand Coal & Carbon
- Grasim Industreis Ltd - India
- Mercator Lines Limited - India
- Toyota Tsusho Corporation, Japan
- Port Waratah Coal Services - Australia
- Aditya Birla Group - India
- Kepco SPC Power Corporation, Philippines
- GMR Energy Limited - India
- Eastern Coal Council - USA
- Economic Council, Georgia
- Global Coal Blending Company Limited - Australia
- Bukit Baiduri Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Coalindo Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- SN Aboitiz Power Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
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