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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 June 10
SOUTH AFRICA COAL STAYS NEAR 18-MONTH HIGH ON EUROPEAN DEMAND - BLOOMBERG
Bloomberg Reported that, Prices for coal shipped from South Africa’s Richards Bay, the continent’s biggest export facility for the fuel, ...
Sunday, 06 June 10
THE DOWNWARD TREND FOR S6 AND S7 ROUTE IS LIKELY TO CONTINUE NEXT WEEK - VISTAAR
COALspot.com: "This seemed market heading for corrections with all sectors down", said, Capt. Reddy, MD of Vistaar Shipping Singapore, an ...
Sunday, 06 June 10
STEAM COAL MAY BECOME NEXT BOOMING COMMODITY IN AUSTRALIA - DB
Deutsche Bank predicts that thermal coal could become Australia's next booming commodity. The German investment bank's global thermal coal team ex ...
Friday, 04 June 10
INDO/INDIA AROUND THE MID 20'S LEVEL AND MID TO HIGH 20'S INDIA/CHINA
Handy
After a quiet end to last week, the Atlantic handysize market continued&nb ...
Thursday, 03 June 10
INDO GOVERNMENT TRIES TO CALM BUSINESSES FEARS OVER FOREST - CLEARING MORATORIUM
The Jakarta Globe reported that, as producers of coal and palm oil continued to howl, the government on Tuesday offered reassurances that the develo ...
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- CIMB Investment Bank - Malaysia
- Holcim Trading Pte Ltd - Singapore
- Eastern Coal Council - USA
- IHS Mccloskey Coal Group - USA
- Ind-Barath Power Infra Limited - India
- Rio Tinto Coal - Australia
- PTC India Limited - India
- OPG Power Generation Pvt Ltd - India
- India Bulls Power Limited - India
- GAC Shipping (India) Pvt Ltd
- Borneo Indobara - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Sakthi Sugars Limited - India
- Ceylon Electricity Board - Sri Lanka
- Electricity Generating Authority of Thailand
- Semirara Mining Corp, Philippines
- Aboitiz Power Corporation - Philippines
- LBH Netherlands Bv - Netherlands
- Karaikal Port Pvt Ltd - India
- Central Electricity Authority - India
- Tamil Nadu electricity Board
- ASAPP Information Group - India
- Carbofer General Trading SA - India
- Straits Asia Resources Limited - Singapore
- Trasteel International SA, Italy
- International Coal Ventures Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Lanco Infratech Ltd - India
- Bhatia International Limited - India
- Medco Energi Mining Internasional
- Xindia Steels Limited - India
- Australian Coal Association
- Intertek Mineral Services - Indonesia
- San Jose City I Power Corp, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Samtan Co., Ltd - South Korea
- Directorate Of Revenue Intelligence - India
- GVK Power & Infra Limited - India
- Aditya Birla Group - India
- Formosa Plastics Group - Taiwan
- Mercuria Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Alfred C Toepfer International GmbH - Germany
- Coastal Gujarat Power Limited - India
- Orica Mining Services - Indonesia
- Barasentosa Lestari - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Grasim Industreis Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Oldendorff Carriers - Singapore
- Meralco Power Generation, Philippines
- Chamber of Mines of South Africa
- Indika Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Kumho Petrochemical, South Korea
- Malabar Cements Ltd - India
- Heidelberg Cement - Germany
- Bhushan Steel Limited - India
- Rashtriya Ispat Nigam Limited - India
- Sindya Power Generating Company Private Ltd
- Singapore Mercantile Exchange
- Riau Bara Harum - Indonesia
- Chettinad Cement Corporation Ltd - India
- Jindal Steel & Power Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Directorate General of MIneral and Coal - Indonesia
- Kartika Selabumi Mining - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Binh Thuan Hamico - Vietnam
- PowerSource Philippines DevCo
- Vedanta Resources Plc - India
- Agrawal Coal Company - India
- White Energy Company Limited
- Bharathi Cement Corporation - India
- Sinarmas Energy and Mining - Indonesia
- Vizag Seaport Private Limited - India
- Orica Australia Pty. Ltd.
- CNBM International Corporation - China
- Energy Link Ltd, New Zealand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Australian Commodity Traders Exchange
- Siam City Cement - Thailand
- Wilmar Investment Holdings
- Pipit Mutiara Jaya. PT, Indonesia
- Madhucon Powers Ltd - India
- PNOC Exploration Corporation - Philippines
- Port Waratah Coal Services - Australia
- Uttam Galva Steels Limited - India
- Independent Power Producers Association of India
- Merrill Lynch Commodities Europe
- Power Finance Corporation Ltd., India
- Standard Chartered Bank - UAE
- South Luzon Thermal Energy Corporation
- Kobexindo Tractors - Indoneisa
- Thiess Contractors Indonesia
- Manunggal Multi Energi - Indonesia
- Global Coal Blending Company Limited - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Georgia Ports Authority, United States
- Essar Steel Hazira Ltd - India
- Marubeni Corporation - India
- TeaM Sual Corporation - Philippines
- Mercator Lines Limited - India
- Sojitz Corporation - Japan
- Meenaskhi Energy Private Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mintek Dendrill Indonesia
- Ambuja Cements Ltd - India
- Bhoruka Overseas - Indonesia
- Baramulti Group, Indonesia
- Tata Chemicals Ltd - India
- Gujarat Sidhee Cement - India
- Interocean Group of Companies - India
- Kideco Jaya Agung - Indonesia
- London Commodity Brokers - England
- Altura Mining Limited, Indonesia
- Siam City Cement PLC, Thailand
- GN Power Mariveles Coal Plant, Philippines
- Iligan Light & Power Inc, Philippines
- Global Business Power Corporation, Philippines
- Sical Logistics Limited - India
- Videocon Industries ltd - India
- Miang Besar Coal Terminal - Indonesia
- Indian Oil Corporation Limited
- McConnell Dowell - Australia
- Edison Trading Spa - Italy
- Electricity Authority, New Zealand
- Cement Manufacturers Association - India
- Energy Development Corp, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Bukit Baiduri Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Global Green Power PLC Corporation, Philippines
- Goldman Sachs - Singapore
- Romanian Commodities Exchange
- Coalindo Energy - Indonesia
- Parliament of New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- Sarangani Energy Corporation, Philippines
- Petron Corporation, Philippines
- Ministry of Transport, Egypt
- ICICI Bank Limited - India
- Star Paper Mills Limited - India
- Simpson Spence & Young - Indonesia
- GMR Energy Limited - India
- Thai Mozambique Logistica
- PetroVietnam Power Coal Import and Supply Company
- Indogreen Group - Indonesia
- Globalindo Alam Lestari - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- SMG Consultants - Indonesia
- Eastern Energy - Thailand
- Deloitte Consulting - India
- Wood Mackenzie - Singapore
- Planning Commission, India
- Kalimantan Lumbung Energi - Indonesia
- Bukit Makmur.PT - Indonesia
- Parry Sugars Refinery, India
- Metalloyd Limited - United Kingdom
- Banpu Public Company Limited - Thailand
- Mjunction Services Limited - India
- Leighton Contractors Pty Ltd - Australia
- Makarim & Taira - Indonesia
- Jaiprakash Power Ventures ltd
- New Zealand Coal & Carbon
- Cigading International Bulk Terminal - Indonesia
- Africa Commodities Group - South Africa
- Antam Resourcindo - Indonesia
- The State Trading Corporation of India Ltd
- Renaissance Capital - South Africa
- Bulk Trading Sa - Switzerland
- MS Steel International - UAE
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- VISA Power Limited - India
- Kaltim Prima Coal - Indonesia
- Anglo American - United Kingdom
- SN Aboitiz Power Inc, Philippines
- Salva Resources Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Maheswari Brothers Coal Limited - India
- Central Java Power - Indonesia
- Sree Jayajothi Cements Limited - India
- Price Waterhouse Coopers - Russia
- Gujarat Electricity Regulatory Commission - India
- Billiton Holdings Pty Ltd - Australia
- Semirara Mining and Power Corporation, Philippines
- IEA Clean Coal Centre - UK
- Larsen & Toubro Limited - India
- Ministry of Finance - Indonesia
- Savvy Resources Ltd - HongKong
- Neyveli Lignite Corporation Ltd, - India
- Latin American Coal - Colombia
- Indian Energy Exchange, India
- Economic Council, Georgia
- Kapuas Tunggal Persada - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Timah Investasi Mineral - Indoneisa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coal and Oil Company - UAE
- Posco Energy - South Korea
- SMC Global Power, Philippines
- European Bulk Services B.V. - Netherlands
- Bangladesh Power Developement Board
- Attock Cement Pakistan Limited
- Pendopo Energi Batubara - Indonesia
- The University of Queensland
- Indonesian Coal Mining Association
- Dalmia Cement Bharat India
- Kepco SPC Power Corporation, Philippines
- The Treasury - Australian Government
- Ministry of Mines - Canada
- Commonwealth Bank - Australia
- Minerals Council of Australia
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