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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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Thursday, 05 April 18
INDONESIA TO POSTPONE NEW COAL, PALM OIL SHIPPING RULES TO 2020 - REUTERS
Indonesia will delay until 2020 trade rules requiring exporters of coal and crude palm oil to use only Indonesian-flagged vessels, government offic ...
Tuesday, 03 April 18
MARKET ANALYSIS - GEORGE LAZARIDIS
In the midst of a relatively quiet week for markets, with disruptions being caused by the Christian holidays, it seems as though we find ourselves ...
Monday, 02 April 18
THE FREIGHT RATES ARE EXPECTED TO BE FLAT TO SOFT, SAYS VISTAAR
The freight market softening to continue. Thursday, March 29, 2018, the Baltic Dry Index decreased by 42 points, reaching 1080 points.
T ...
Monday, 02 April 18
THIESS TO DELIVER $150M SENAKIN CONTRACT EXTENSION
Thiess has secured a $150 million contract extension to provide mine services at Arutmin’s Senakin coal mine in South Kalimantan, Indonesia.
...
Monday, 02 April 18
THIESS SECURES $240M SATUI EXTENSION
The successful implementation of an innovative mining plan by Thiess at the Satui coal mine in South Kalimantan, has resulted in a $240 million con ...
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- Indogreen Group - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Tata Chemicals Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Interocean Group of Companies - India
- Vizag Seaport Private Limited - India
- Metalloyd Limited - United Kingdom
- TNB Fuel Sdn Bhd - Malaysia
- South Luzon Thermal Energy Corporation
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kepco SPC Power Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Indian Oil Corporation Limited
- Pipit Mutiara Jaya. PT, Indonesia
- Holcim Trading Pte Ltd - Singapore
- Banpu Public Company Limited - Thailand
- ICICI Bank Limited - India
- Larsen & Toubro Limited - India
- Siam City Cement - Thailand
- Kohat Cement Company Ltd. - Pakistan
- Makarim & Taira - Indonesia
- Price Waterhouse Coopers - Russia
- Toyota Tsusho Corporation, Japan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- The State Trading Corporation of India Ltd
- CNBM International Corporation - China
- Romanian Commodities Exchange
- New Zealand Coal & Carbon
- Bukit Asam (Persero) Tbk - Indonesia
- Eastern Energy - Thailand
- Star Paper Mills Limited - India
- Power Finance Corporation Ltd., India
- Parry Sugars Refinery, India
- Gujarat Sidhee Cement - India
- Thiess Contractors Indonesia
- Eastern Coal Council - USA
- India Bulls Power Limited - India
- Oldendorff Carriers - Singapore
- IHS Mccloskey Coal Group - USA
- Jaiprakash Power Ventures ltd
- SN Aboitiz Power Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Ministry of Transport, Egypt
- VISA Power Limited - India
- International Coal Ventures Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Parliament of New Zealand
- Jorong Barutama Greston.PT - Indonesia
- Central Java Power - Indonesia
- PTC India Limited - India
- Edison Trading Spa - Italy
- Pendopo Energi Batubara - Indonesia
- The Treasury - Australian Government
- Borneo Indobara - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Mercator Lines Limited - India
- Heidelberg Cement - Germany
- Wilmar Investment Holdings
- Maheswari Brothers Coal Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indika Energy - Indonesia
- Indian Energy Exchange, India
- Bhoruka Overseas - Indonesia
- Karaikal Port Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Videocon Industries ltd - India
- McConnell Dowell - Australia
- Attock Cement Pakistan Limited
- Krishnapatnam Port Company Ltd. - India
- Salva Resources Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Sinarmas Energy and Mining - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Siam City Cement PLC, Thailand
- Wood Mackenzie - Singapore
- Barasentosa Lestari - Indonesia
- Minerals Council of Australia
- London Commodity Brokers - England
- Bukit Baiduri Energy - Indonesia
- ASAPP Information Group - India
- Grasim Industreis Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Cement Manufacturers Association - India
- GAC Shipping (India) Pvt Ltd
- Thai Mozambique Logistica
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Economic Council, Georgia
- Manunggal Multi Energi - Indonesia
- Independent Power Producers Association of India
- Gujarat Mineral Development Corp Ltd - India
- Ministry of Mines - Canada
- Trasteel International SA, Italy
- Bhushan Steel Limited - India
- Binh Thuan Hamico - Vietnam
- Vijayanagar Sugar Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Billiton Holdings Pty Ltd - Australia
- Globalindo Alam Lestari - Indonesia
- Baramulti Group, Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- White Energy Company Limited
- Aditya Birla Group - India
- Malabar Cements Ltd - India
- Agrawal Coal Company - India
- Sindya Power Generating Company Private Ltd
- Vedanta Resources Plc - India
- Therma Luzon, Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Chamber of Mines of South Africa
- Iligan Light & Power Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Goldman Sachs - Singapore
- Madhucon Powers Ltd - India
- Savvy Resources Ltd - HongKong
- Chettinad Cement Corporation Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Indonesian Coal Mining Association
- Electricity Authority, New Zealand
- Mintek Dendrill Indonesia
- European Bulk Services B.V. - Netherlands
- IEA Clean Coal Centre - UK
- Marubeni Corporation - India
- GMR Energy Limited - India
- Bukit Makmur.PT - Indonesia
- Antam Resourcindo - Indonesia
- Planning Commission, India
- Merrill Lynch Commodities Europe
- Africa Commodities Group - South Africa
- Bulk Trading Sa - Switzerland
- Standard Chartered Bank - UAE
- Coalindo Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Renaissance Capital - South Africa
- The University of Queensland
- Sical Logistics Limited - India
- Mjunction Services Limited - India
- Sree Jayajothi Cements Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Aboitiz Power Corporation - Philippines
- Sojitz Corporation - Japan
- Australian Coal Association
- San Jose City I Power Corp, Philippines
- GVK Power & Infra Limited - India
- Directorate Of Revenue Intelligence - India
- OPG Power Generation Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Sakthi Sugars Limited - India
- Global Green Power PLC Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Posco Energy - South Korea
- Asmin Koalindo Tuhup - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Coal and Oil Company - UAE
- Deloitte Consulting - India
- Anglo American - United Kingdom
- Bhatia International Limited - India
- Ceylon Electricity Board - Sri Lanka
- Samtan Co., Ltd - South Korea
- CIMB Investment Bank - Malaysia
- Port Waratah Coal Services - Australia
- Australian Commodity Traders Exchange
- LBH Netherlands Bv - Netherlands
- Coastal Gujarat Power Limited - India
- Intertek Mineral Services - Indonesia
- Singapore Mercantile Exchange
- Bharathi Cement Corporation - India
- Uttam Galva Steels Limited - India
- Central Electricity Authority - India
- SMC Global Power, Philippines
- Georgia Ports Authority, United States
- Rio Tinto Coal - Australia
- Orica Mining Services - Indonesia
- Meralco Power Generation, Philippines
- PowerSource Philippines DevCo
- Ministry of Finance - Indonesia
- Latin American Coal - Colombia
- Orica Australia Pty. Ltd.
- Commonwealth Bank - Australia
- MS Steel International - UAE
- Electricity Generating Authority of Thailand
- Bangladesh Power Developement Board
- GN Power Mariveles Coal Plant, Philippines
- Dalmia Cement Bharat India
- Ambuja Cements Ltd - India
- TeaM Sual Corporation - Philippines
- Karbindo Abesyapradhi - Indoneisa
- Semirara Mining Corp, Philippines
- Bayan Resources Tbk. - Indonesia
- Xindia Steels Limited - India
- Altura Mining Limited, Indonesia
- Formosa Plastics Group - Taiwan
- Essar Steel Hazira Ltd - India
- Meenaskhi Energy Private Limited - India
- PNOC Exploration Corporation - Philippines
- Tamil Nadu electricity Board
- Kumho Petrochemical, South Korea
- Lanco Infratech Ltd - India
- Carbofer General Trading SA - India
- Medco Energi Mining Internasional
- Energy Development Corp, Philippines
- SMG Consultants - Indonesia
- Mercuria Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Indo Tambangraya Megah - Indonesia
- Riau Bara Harum - Indonesia
- Petron Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Straits Asia Resources Limited - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Kideco Jaya Agung - Indonesia
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