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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, 07 November 11
CHINA'S COAL IMPORTS STEAM AHEAD
Chinese seaborne coal imports have grown greatly in recent years, up from 39.2mt in 2008 to 167.7mt in 2010, with the result that China became a net ...
Saturday, 05 November 11
DEMAND SLUMP THREATENS MORE PAIN FOR BULK VESSELS - VISTAAR
COALspot.com - The market continued to fall with BDI dropping below 2,000 points by around 10 pct and closing at 1817 points. The cape index also co ...
Saturday, 05 November 11
BERAU STARTS TO EXPLORE BINUNGAN SITE - INSIDER STORIES
Insider Stories reported that, coal miner PT Berau Coal, a 90% owned subsidiary of PT Berau Coal Energy Tbk (BRAU), is busy to hold exploration in B ...
Friday, 04 November 11
INDIAN IRON ORE MARKET REMAINS DEAD - FEARNLEYS
Handy
The Atlantic market kept its strong position from last week. Even with fewer fixtures reported. Fronthauls still around 25k, wit ...
Thursday, 03 November 11
DRY BULK MARKET OFFICIALLY IN THE RED ON LOWER CARGO DEMAND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market kept falling yesterday, on lower iron ore demand, which has caused the industry’s benchmark, the BDI (Baltic Dry Index) to ...
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- Star Paper Mills Limited - India
- Mjunction Services Limited - India
- PowerSource Philippines DevCo
- Coalindo Energy - Indonesia
- Ministry of Transport, Egypt
- Formosa Plastics Group - Taiwan
- Larsen & Toubro Limited - India
- TeaM Sual Corporation - Philippines
- Videocon Industries ltd - India
- Kapuas Tunggal Persada - Indonesia
- Coastal Gujarat Power Limited - India
- ASAPP Information Group - India
- European Bulk Services B.V. - Netherlands
- Banpu Public Company Limited - Thailand
- White Energy Company Limited
- Tamil Nadu electricity Board
- Billiton Holdings Pty Ltd - Australia
- GVK Power & Infra Limited - India
- Ind-Barath Power Infra Limited - India
- Energy Link Ltd, New Zealand
- Bukit Asam (Persero) Tbk - Indonesia
- Semirara Mining Corp, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Central Electricity Authority - India
- Australian Commodity Traders Exchange
- Karbindo Abesyapradhi - Indoneisa
- Marubeni Corporation - India
- Standard Chartered Bank - UAE
- India Bulls Power Limited - India
- Salva Resources Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Independent Power Producers Association of India
- Energy Development Corp, Philippines
- Samtan Co., Ltd - South Korea
- GAC Shipping (India) Pvt Ltd
- Essar Steel Hazira Ltd - India
- Sakthi Sugars Limited - India
- Power Finance Corporation Ltd., India
- Kobexindo Tractors - Indoneisa
- Bayan Resources Tbk. - Indonesia
- Makarim & Taira - Indonesia
- Iligan Light & Power Inc, Philippines
- Baramulti Group, Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Siam City Cement - Thailand
- Goldman Sachs - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- SMC Global Power, Philippines
- Commonwealth Bank - Australia
- Georgia Ports Authority, United States
- New Zealand Coal & Carbon
- Vijayanagar Sugar Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Global Green Power PLC Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Sindya Power Generating Company Private Ltd
- Gujarat Sidhee Cement - India
- Latin American Coal - Colombia
- Wilmar Investment Holdings
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kideco Jaya Agung - Indonesia
- CIMB Investment Bank - Malaysia
- Kartika Selabumi Mining - Indonesia
- VISA Power Limited - India
- Price Waterhouse Coopers - Russia
- PetroVietnam Power Coal Import and Supply Company
- Kalimantan Lumbung Energi - Indonesia
- Romanian Commodities Exchange
- Indika Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- Jindal Steel & Power Ltd - India
- Riau Bara Harum - Indonesia
- Port Waratah Coal Services - Australia
- McConnell Dowell - Australia
- Alfred C Toepfer International GmbH - Germany
- Posco Energy - South Korea
- Krishnapatnam Port Company Ltd. - India
- Borneo Indobara - Indonesia
- Madhucon Powers Ltd - India
- Sical Logistics Limited - India
- Simpson Spence & Young - Indonesia
- Indonesian Coal Mining Association
- Wood Mackenzie - Singapore
- Anglo American - United Kingdom
- Singapore Mercantile Exchange
- Renaissance Capital - South Africa
- Bangladesh Power Developement Board
- Pendopo Energi Batubara - Indonesia
- Thiess Contractors Indonesia
- Vizag Seaport Private Limited - India
- Sree Jayajothi Cements Limited - India
- MS Steel International - UAE
- Savvy Resources Ltd - HongKong
- Planning Commission, India
- GN Power Mariveles Coal Plant, Philippines
- Economic Council, Georgia
- Kepco SPC Power Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Manunggal Multi Energi - Indonesia
- Bhushan Steel Limited - India
- Leighton Contractors Pty Ltd - Australia
- Electricity Authority, New Zealand
- Therma Luzon, Inc, Philippines
- Heidelberg Cement - Germany
- Asmin Koalindo Tuhup - Indonesia
- PTC India Limited - India
- The State Trading Corporation of India Ltd
- Meenaskhi Energy Private Limited - India
- LBH Netherlands Bv - Netherlands
- Straits Asia Resources Limited - Singapore
- Electricity Generating Authority of Thailand
- Ambuja Cements Ltd - India
- Cement Manufacturers Association - India
- Semirara Mining and Power Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Global Coal Blending Company Limited - Australia
- Gujarat Mineral Development Corp Ltd - India
- Coal and Oil Company - UAE
- Directorate Of Revenue Intelligence - India
- Rio Tinto Coal - Australia
- Lanco Infratech Ltd - India
- Agrawal Coal Company - India
- Toyota Tsusho Corporation, Japan
- Indian Oil Corporation Limited
- South Luzon Thermal Energy Corporation
- Orica Australia Pty. Ltd.
- Ministry of Finance - Indonesia
- Orica Mining Services - Indonesia
- Edison Trading Spa - Italy
- Indian Energy Exchange, India
- Cigading International Bulk Terminal - Indonesia
- Bhoruka Overseas - Indonesia
- Kaltim Prima Coal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Uttam Galva Steels Limited - India
- Oldendorff Carriers - Singapore
- Mintek Dendrill Indonesia
- Intertek Mineral Services - Indonesia
- Carbofer General Trading SA - India
- Timah Investasi Mineral - Indoneisa
- Parliament of New Zealand
- Sinarmas Energy and Mining - Indonesia
- Xindia Steels Limited - India
- Minerals Council of Australia
- Barasentosa Lestari - Indonesia
- OPG Power Generation Pvt Ltd - India
- Thai Mozambique Logistica
- Meralco Power Generation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- AsiaOL BioFuels Corp., Philippines
- San Jose City I Power Corp, Philippines
- Deloitte Consulting - India
- Globalindo Alam Lestari - Indonesia
- CNBM International Corporation - China
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Trasteel International SA, Italy
- ICICI Bank Limited - India
- Siam City Cement PLC, Thailand
- Africa Commodities Group - South Africa
- Kumho Petrochemical, South Korea
- Aditya Birla Group - India
- Chamber of Mines of South Africa
- IHS Mccloskey Coal Group - USA
- Eastern Energy - Thailand
- The University of Queensland
- Indo Tambangraya Megah - Indonesia
- Eastern Coal Council - USA
- Merrill Lynch Commodities Europe
- SMG Consultants - Indonesia
- Dalmia Cement Bharat India
- Bulk Trading Sa - Switzerland
- IEA Clean Coal Centre - UK
- Pipit Mutiara Jaya. PT, Indonesia
- Grasim Industreis Ltd - India
- Indogreen Group - Indonesia
- Bukit Baiduri Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Parry Sugars Refinery, India
- Aboitiz Power Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PNOC Exploration Corporation - Philippines
- Global Business Power Corporation, Philippines
- Ministry of Mines - Canada
- The Treasury - Australian Government
- Bhatia International Limited - India
- London Commodity Brokers - England
- Interocean Group of Companies - India
- Bahari Cakrawala Sebuku - Indonesia
- Jaiprakash Power Ventures ltd
- Petron Corporation, Philippines
- Bharathi Cement Corporation - India
- Medco Energi Mining Internasional
- Altura Mining Limited, Indonesia
- Mercuria Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Sojitz Corporation - Japan
- Mercator Lines Limited - India
- International Coal Ventures Pvt Ltd - India
- GMR Energy Limited - India
- Attock Cement Pakistan Limited
- Binh Thuan Hamico - Vietnam
- TNB Fuel Sdn Bhd - Malaysia
- Central Java Power - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Jorong Barutama Greston.PT - Indonesia
- Tata Chemicals Ltd - India
- Malabar Cements Ltd - India
- Australian Coal Association
- Maheswari Brothers Coal Limited - India
- Vedanta Resources Plc - India
- Bukit Makmur.PT - Indonesia
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